PDD EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
PDD's ev/ebitda is lower than 95% of the last 10 years.
EV/EBITDA History
PDD EV/EBITDA by year
Yearly range of PDD’s ev/ebitda from 2021 to 2026. Over the full period it ranged from 3.9 to 77.6, averaging 18.8.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 3.9 | 5.7 | 7.8 | 4.7 |
| 2025 | 7.1 | 9.7 | 11.7 | 7.1 |
| 2024 | 7.9 | 15.4 | 25.5 | 7.9 |
| 2023 | 16.6 | 23.6 | 32.2 | 31.2 |
| 2022 | 15.4 | 35.4 | 77.6 | 27.1 |
| 2021 | 68.7 | 68.7 | 68.7 | 68.7 |
Get notified when PDD EV/EBITDA crosses a threshold
Free — one alert setup, notifications by push, Telegram, or Discord.
An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is PDD EV/EBITDA High or Low Right Now?
PDD Holdings Inc.'s EV/EBITDA is currently 4.7, which is near historic low relative to its 10-year historical range. The 10-year median EV/EBITDA for PDD is approximately 16.2. See all PDD valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.