Added to YB: 2024-09-10
Pitch date: 2024-09-09
PDD [bullish]
PDD Holdings Inc.
-17.7%
current return
Author Info
No bio for this author
Company Info
PDD Holdings Inc., a multinational commerce group that owns and operates a portfolio of businesses. The company operates Pinduoduo platform, which provides various product categories and interactive shopping experiences; and Temu, an online platform, which enables merchants to streamline their manufacturing and commercial operations.
Market Cap
$801.2B
Pitch Price
$93.01
Price Target
159.00 (+95%)
Dividend
N/A
EV/EBITDA
3.70
P/E
8.72
EV/Sales
0.84
Sector
Broadline Retail
Category
growth
Why PDD Could Be a Value Play in Chinese E-Commerce
PDD: Ecommerce profit pool growing despite headwinds. PDD 34% OPM vs BABA 29%. Est. $12B PF NI (vs $13.6B LTM) at 28% EBIT margin, 20% tax. $240B value ex-cash vs $140B mkt cap. Derating from 20x to 10x PE mirrors BABA. Consider buying PDD, BABA, JD basket at 10x PE for 13% EBIT CAGR exposure.
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