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拼多多（PDD）与XP Inc.（XP）财务数据对比。点击上方公司名可切换其他公司
拼多多的季度营收约是XP Inc.的1.1倍（$15.2B vs $13.5B），拼多多净利率更高（27.1% vs 0.0%，领先27.1%）
PDD控股是总部位于爱尔兰的跨国企业，旗下拥有中国头部线上零售平台拼多多和跨境电商平台Temu。拼多多主打农业供应链数字化升级，助力农产品直接对接广大消费者需求。
XP Inc.是巴西知名投资管理企业，提供固定收益产品、股票、投资基金、私人养老金产品，同时开展财富管理及其他金融服务。公司主要服务巴西本土客户，在圣保罗、里约热内卢、纽约、迈阿密、伦敦、日内瓦均设有办事处。
PDD vs XP — 直观对比
营收规模更大
PDD
是对方的1.1倍
$13.5B
净利率更高
PDD
高出27.1%
0.0%
损益表 — Q3 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $15.2B | $13.5B |
| 净利润 | $4.1B | $22.0K |
| 毛利率 | 56.7% | — |
| 营业利润率 | 23.1% | 1.1% |
| 净利率 | 27.1% | 0.0% |
| 营收同比 | — | — |
| 净利润同比 | — | — |
| 每股收益（稀释后） | — | $536884.00 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PDDXP
| Q3 25 | $15.2B | $13.5B | ||
| Q2 25 | $14.5B | $8.8B | ||
| Q1 25 | — | $4.3B | ||
| Q3 24 | $14.2B | $12.6B | ||
| Q2 24 | — | $8.3B | ||
| Q1 24 | $12.0B | $4.1B | ||
| Q3 23 | $9.4B | — | ||
| Q2 23 | $7.2B | — |
净利润PDDXP
| Q3 25 | $4.1B | $22.0K | ||
| Q2 25 | $4.3B | $22.0K | ||
| Q1 25 | — | $22.0K | ||
| Q3 24 | $3.6B | $21.0K | ||
| Q2 24 | — | $21.0K | ||
| Q1 24 | $3.9B | $21.0K | ||
| Q3 23 | $2.1B | — | ||
| Q2 23 | $1.8B | — |
毛利率PDDXP
| Q3 25 | 56.7% | — | ||
| Q2 25 | 55.9% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 62.3% | — | ||
| Q3 23 | 61.0% | — | ||
| Q2 23 | 64.3% | — |
营业利润率PDDXP
| Q3 25 | 23.1% | 1.1% | ||
| Q2 25 | 24.8% | 1.0% | ||
| Q1 25 | — | 1.1% | ||
| Q3 24 | 24.5% | 1.0% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | 29.9% | 1.0% | ||
| Q3 23 | 24.2% | — | ||
| Q2 23 | 24.3% | — |
净利率PDDXP
| Q3 25 | 27.1% | 0.0% | ||
| Q2 25 | 29.6% | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q3 24 | 25.1% | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | 32.3% | 0.0% | ||
| Q3 23 | 22.6% | — | ||
| Q2 23 | 25.1% | — |
每股收益（稀释后）PDDXP
| Q3 25 | — | $536884.00 | ||
| Q2 25 | — | $537811.00 | ||
| Q1 25 | — | $539533.00 | ||
| Q3 24 | — | $550958.00 | ||
| Q2 24 | — | $554030.00 | ||
| Q1 24 | — | $556675.00 | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $13.0B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $55.0B | $20.0B |
| 总资产 | $86.2B | $347.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资PDDXP
| Q3 25 | $13.0B | — | ||
| Q2 25 | $8.8B | — | ||
| Q1 25 | — | — | ||
| Q3 24 | $9.3B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $7.7B | — | ||
| Q3 23 | $7.5B | — | ||
| Q2 23 | $4.3B | — |
股东权益PDDXP
| Q3 25 | $55.0B | $20.0B | ||
| Q2 25 | $50.5B | $20.0B | ||
| Q1 25 | — | $20.0B | ||
| Q3 24 | $39.7B | $19.5B | ||
| Q2 24 | — | $19.5B | ||
| Q1 24 | $30.3B | $19.5B | ||
| Q3 23 | $22.2B | — | ||
| Q2 23 | $20.0B | — |
总资产PDDXP
| Q3 25 | $86.2B | $347.5B | ||
| Q2 25 | $79.2B | $347.5B | ||
| Q1 25 | — | $347.5B | ||
| Q3 24 | $66.5B | $249.0B | ||
| Q2 24 | — | $249.0B | ||
| Q1 24 | $52.3B | $249.0B | ||
| Q3 23 | $43.1B | — | ||
| Q2 23 | $37.8B | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $6.4B | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.56× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PDDXP
| Q3 25 | $6.4B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | — | — | ||
| Q3 24 | $3.9B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $2.9B | — | ||
| Q3 23 | $4.5B | — | ||
| Q2 23 | $3.2B | — |
现金转化率PDDXP
| Q3 25 | 1.56× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.75× | — | ||
| Q3 23 | 2.09× | — | ||
| Q2 23 | 1.78× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
