R&D expense · 2018–2025
PDD Holdings R&D expense
$2.4B+36.0% · FY2025
PDD Holdings (PDD) reported $2.4B in R&D expense for fiscal 2025, +36.0% year on year.
| Fiscal year | R&D expense | Change | Filing |
|---|---|---|---|
| FY20252025-12-31 | $2.4B | +36.0% | Open → |
| FY20242024-12-31 | $1.7B | +12.4% | Open → |
| FY20232023-12-31 | $1.5B | +2.5% | Open → |
| FY20222022-12-31 | $1.5B | +6.7% | Open → |
| FY20212021-12-31 | $1.4B | +33.6% | Open → |
| FY20202020-12-31 | $1.1B | +90.0% | Open → |
| FY20192019-12-31 | $556M | +242.5% | Open → |
| FY20182018-12-31 | $162M | — | Open → |
R&D expense — Research and development expense is what the company charged to R&D in the income statement for the year. Most companies report no R&D at all — the line is absent rather than zero — so this ranking covers the roughly 40% of filers that do.
Every row links to its own SEC filing · Fiscal year 2025 · Data as of September 25, 2026 · 2018–2025 compound annual growth +46.6%
R&D expense at companies of similar size
Cite this page
Ready-made references for the figures on this page, as published on September 25, 2026.
Wikipedia
{{cite web |title=PDD Holdings R&D expense |url=https://companiesranked.com/en/company/pdd-holdings/research-and-development-expense |website=CompaniesRanked |date=2026-09-25 |language=en}}APA 7
CompaniesRanked. (September 25, 2026). PDD Holdings R&D expense. CompaniesRanked. https://companiesranked.com/en/company/pdd-holdings/research-and-development-expenseBibTeX
@misc{companiesranked-en-company-pdd-holdings-research-and-development-expense-2026,
author = {{CompaniesRanked}},
title = {{PDD Holdings R\&D expense}},
year = {2026},
howpublished = {\url{https://companiesranked.com/en/company/pdd-holdings/research-and-development-expense}},
note = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
urldate = {2026-09-25}
}The filing itself
The numbers above are read from this document: 20-F · 0001104659-26-050727 · April 29, 2026
{{cite web |title=PDD Holdings R&D expense — 20-F (0001104659-26-050727) |url=https://www.sec.gov/Archives/edgar/data/1737806/000110465926050727/pdd-20251231x20f.htm |website=SEC EDGAR |publisher=U.S. Securities and Exchange Commission |date=2026-04-29}}The figures are rebuilt with every data refresh, so the reference carries the publication date. Add your own access date if your style requires one.