Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
PDD HoldingsPDD +2.64%71 Shiller PE Ratio is 34.99 as of Aug. 19, 2026, which is 14% below its 10-year median of 40.52. GuruFocus rates PDD with a GF Score™ of 71/100 and a GF Value™ of $157.84 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 587 Retail - Cyclical companies, PDD Holdings ranks worse than 77.85% on this metric.
As of today (2026-08-19), PDD Holdings's current share price is $89.57. PDD Holdings's E10 for the fiscal year that ended in Dec25 was $2.56. PDD Holdings's Shiller PE Ratio for today is 34.99.
The historical rank and industry rank for PDD Holdings's Shiller PE Ratio or its related term are showing as below:
PDD'
s Shiller PE Ratio Range Over the Past 10 Years
Min: 34.06 Med: 40.52 Max: 47.09
Current: 34.99
During the past 10 years, PDD Holdings's highest Shiller PE Ratio was 47.09. The lowest was 34.06. And the median was 40.52.
PDD's Shiller PE Ratio is ranked worse than 77.85% of 587
companies
in the Retail - Cyclical industry
Industry Median: 17.69
vs PDD: 34.99
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
PDD Holdings's adjusted earnings per share data of for the fiscal year that ended in Dec25 was $9.371. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $2.56 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
PDD Holdings (NAS:PDD) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
PDD Holdings Shiller PE Ratio Related Terms
PDD Holdings Shiller PE Ratio Historical Data
* Premium members only.
The historical data trend for PDD Holdings's Shiller PE 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.
PDD vs MELI, DASH, SE: Shiller PE Ratio Comparison
For the Internet Retail subindustry, PDD Holdings's Shiller PE Ratio, along with its competitors' market caps and Shiller PE 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 Shiller PE Ratio vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, PDD Holdings's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where PDD Holdings's Shiller PE Ratio falls into.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
PDD Holdings's Shiller PE Ratio for today is calculated as
* 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.
PDD Holdings's E10 for the fiscal year that ended in Dec25 is calculated as:
For example, PDD Holdings's adjusted earnings per share data for the fiscal year that ended in Dec25 was:
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
PDD Holdings (PDD) has a Shiller PE Ratio of 34.99 as of Aug. 19, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on PDD Holdings and its competitors. This is 14% below median its historical median of 40.52. Over the past decade, PDD Holdings' Shiller PE Ratio has ranged from 34.06 to 47.09. According to the industry distribution chart, PDD Holdings ranks #457 out of 587 companies in the Retail - Cyclical industry, placing it in the top 77.9%.
Is PDD Holdings' Shiller PE Ratio too high?
PDD Holdings' current Shiller PE Ratio of 34.99 is 14% below median its 10-year median of 40.52. Over the past 10 years, this metric has ranged from a low of 34.06 to a high of 47.09. The Retail - Cyclical industry median Shiller PE Ratio is 17.69. PDD Holdings' value of 34.99 is 97.8% above this industry median. Based on the distribution chart, PDD Holdings ranks #457 out of 587 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, PDD Holdings has a GF Score™ of 71/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PDD Holdings' Shiller PE Ratio compare to MELI and DASH?
According to the Retail - Cyclical industry distribution chart, PDD Holdings ranks #457 out of 587 companies for Shiller PE Ratio. This places PDD Holdings in the lower half of its industry. The industry median Shiller PE Ratio is 17.69. PDD Holdings' value of 34.99 is 97.8% above this benchmark. Historically, PDD Holdings' own Shiller PE Ratio has ranged from 34.06 to 47.09 over the past decade. While the company's 10-year median is 40.52 vs. the industry median of 17.69, 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 Shiller PE Ratio for a Retail - Cyclical company?
The median Shiller PE Ratio among Retail - Cyclical companies is 17.69, based on 587 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. PDD Holdings's current Shiller PE Ratio of 34.99 is 97.8% 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 Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on PDD Holdings and its competitors. For the Retail - Cyclical industry, the median Shiller PE Ratio is 17.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PDD Holdings's current Shiller PE Ratio is 34.99, which is 14% below median its own 10-year median of 40.52. 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 $157.84, compared to a current price of $89.57 — trading 43.3% below its estimated fair value. The current Shiller PE Ratio is 34.99, which is 14% below median its 10-year median of 40.52 and 97.8% above the Retail - Cyclical industry median of 17.69. PDD Holdings' overall GF Score™ is 71/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For PDD Holdings (PDD), the current Shiller PE Ratio is 34.99 as of Aug. 19, 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 $89.57 is trading 43.3% below its estimated GF Value™ of $157.84.
GuruFocus considers PDD Holdings to be Significantly Undervalued.
Key valuation signals for PDD:
Shiller PE Ratio: 34.99 (14% below median its 10-year median of 40.52)
GF Value™: $157.84 vs. price of $89.57 (43.3% below fair value)
Industry Position: 97.8% above the Retail - Cyclical median (#457 of 587)
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.
71GF Score
Get the complete analysis for PDD
Shiller PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PDD has been successfully added to your 
