PDD HoldingsPDD +8.18%69 PB Ratio is 1.91 as of Jul. 02, 2026, which is 71% below its 10-year median of 6.57. GuruFocus rates PDD with a GF Score™ of 69/100 and a GF Value™ of $153.91 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,072 Retail - Cyclical companies, PDD Holdings ranks worse than 59.89% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-02), PDD Holdings's share price is $82.52. PDD Holdings's Book Value per Share for the quarter that ended in Mar. 2026 was $43.16. Hence, PDD Holdings's PB Ratio of today is 1.91.
Good Sign:
PDD Holdings Inc stock PB Ratio (=1.91) is close to 10-year low of 1.77.
The historical rank and industry rank for PDD Holdings's PB Ratio or its related term are showing as below:
PDD'
s PB Ratio Range Over the Past 10 Years
Min: 1.77 Med: 6.57 Max: 43.87
Current: 1.91
During the past 10 years, PDD Holdings's highest PB Ratio was 43.87. The lowest was 1.77. And the median was 6.57.
PDD's PB Ratio is ranked worse than 59.89% of 1072
companies
in the Retail - Cyclical industry
Industry Median: 1.465
vs PDD: 1.91
During the past 12 months, PDD Holdings's average Book Value Per Share Growth Rate was 34.70% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 47.70% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 43.20% per year.
During the past 10 years, the highest 3-Year average Book Value Per Share Growth Rate of PDD Holdings was 61.80% per year. The lowest was 36.90% per year. And the median was 49.10% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
PDD Holdings PB Ratio Related Terms
PDD Holdings PB Ratio Historical Data
* Premium members only.
The historical data trend for PDD Holdings's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Internet Retail subindustry, PDD Holdings's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
PDD Holdings PB Ratio vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, PDD Holdings's PB Ratio distribution charts can be found below:
* The bar in red indicates where PDD Holdings's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
PDD Holdings's PB Ratio for today is calculated as follows:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
PDD Holdings (PDD) has a PB Ratio of 1.91 as of Jul. 02, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on PDD Holdings and its competitors. This is 71% below median its historical median of 6.57. Over the past decade, PDD Holdings' PB Ratio has ranged from 1.77 to 43.87. According to the industry distribution chart, PDD Holdings ranks #642 out of 1072 companies in the Retail - Cyclical industry, placing it in the top 59.9%.
Is PDD Holdings' PB Ratio too high?
PDD Holdings' current PB Ratio of 1.91 is 71% below median its 10-year median of 6.57. Over the past 10 years, this metric has ranged from a low of 1.77 to a high of 43.87. The Retail - Cyclical industry median PB Ratio is 1.47. PDD Holdings' value of 1.91 is 30.4% above this industry median. Based on the distribution chart, PDD Holdings ranks #642 out of 1072 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, PDD Holdings has a GF Score™ of 69/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PDD Holdings' PB Ratio compare to MELI and DASH?
According to the Retail - Cyclical industry distribution chart, PDD Holdings ranks #642 out of 1072 companies for PB Ratio. This places PDD Holdings in the lower half of its industry. The industry median PB Ratio is 1.47. PDD Holdings' value of 1.91 is 30.4% above this benchmark. Historically, PDD Holdings' own PB Ratio has ranged from 1.77 to 43.87 over the past decade. While the company's 10-year median is 6.57 vs. the industry median of 1.47, PDD Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Retail - Cyclical company?
The median PB Ratio among Retail - Cyclical companies is 1.47, based on 1,072 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. PDD Holdings's current PB Ratio of 1.91 is 30.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on PDD Holdings and its competitors. For the Retail - Cyclical industry, the median PB Ratio is 1.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PDD Holdings's current PB Ratio is 1.91, which is 71% below median its own 10-year median of 6.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PDD Holdings stock overvalued right now?
Based on GuruFocus' analysis, PDD Holdings (PDD) is currently considered Significantly Undervalued. The stock's GF Value™ is $153.91, compared to a current price of $82.52 — trading 46.4% below its estimated fair value. The current PB Ratio is 1.91, which is 71% below median its 10-year median of 6.57 and 30.4% above the Retail - Cyclical industry median of 1.47. PDD Holdings' overall GF Score™ is 69/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For PDD Holdings (PDD), the current PB Ratio is 1.91 as of Jul. 02, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is PDD Holdings (PDD) Overvalued in 2026?
Based on GuruFocus' analysis, PDD Holdings stock appears to be undervalued.
The current stock price of $82.52 is trading 46.4% below its estimated GF Value™ of $153.91.
GuruFocus considers PDD Holdings to be Significantly Undervalued.
Key valuation signals for PDD:
PB Ratio: 1.91 (71% below median its 10-year median of 6.57)
GF Value™: $153.91 vs. price of $82.52 (46.4% below fair value)
Industry Position: 30.4% above the Retail - Cyclical median (#642 of 1072)
No single metric tells the full story. See the PDD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PDD Holdings operates commerce businesses globally. Its main operations are Pinduoduo, a social commerce platform in China, and Temu, a global e-commerce marketplace. PDD also has a community group purchase business in China. PDD has built a network of sourcing, logistics, and fulfillment capabilities that support its underlying businesses. PDD has also started its first-party brand business for global markets.
69GF Score
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