Valuation
26% of the score
100median 56
PDD Holdings Inc. is valued at 1.1x its operating profit, including debt: cheap enough for full points.
60x
50x
35x
25x
18x
12x
8x
1.1x
Full points at 8x or less, none from 60xfull points
PDDPDD Holdings Inc.
$78.47-37% 1Y
$78.47
$73.3052 weeks$138.13
RyuScore
Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
RyuScore 79 out of 100, Strong
Strong. PDD Holdings Inc. scores higher than 91% of the 1,794 companies Ryufin scores.
Carried by valuation and return on capital, held back by cycle position and capital allocation.
Consumer Cyclical median 67 · all companies 57
Return on capital
18% of the score
100median 34
Customers and suppliers fund the business: it runs on no capital of its own.
Return on new capital
16% of the score
100median 49
For every dollar of operating profit earned over 6 years, yearly profit grew by 35 cents. It did so while using less capital than before.
-5%
12%
35%
None at minus 5 cents, full points from 12 centsfull points
Capital allocation
14% of the score
44median 64
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Share countUp 4.5% a year over 5 years: new shares
75%
-3%
4.5%
0 pointsfull points
Assets against salesAssets grew 32% a year, sales 49%
10012%
-2%
-17%
0 pointsfull points
Cycle position
12% of the score
0median 62
Today's operating margin of 22% is 2.24x its normal 9.6%: near a peak, where margins tend to fall back. Normal is half the 10 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
2.2x
A trough earns points, a peak costs themfull points
10 years agonow 22%
Balance sheet
8% of the score
100median 50
What the debt weighs against the profit that has to carry it.
Interest coverOperating profit covers interest 2117x
1001.5x
12x
2116.6x
0 pointsfull points
Earnings quality
6% of the score
77median 90
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
Cash against profitOperating cash flow was 1.20x profit over 3 years
860.7x
1x
1.3x
1.2x
0 pointsfull points
AccrualsCash ran ahead of profit by 1.6% of assets
688%
0%
-8%
-1.6%
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there. Figures as of 2025-12-31, latest annual report FY2025.
Internet Retail
Ranks #1 of 12 by RyuScore