Professional
Added to YB: 2024-02-21
Pitch date: 2023-12-31
PDD [bullish]
PDD Holdings Inc.
-22.19%
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. It operates Pinduoduo platform which provides various product categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverages, consumer electronics, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness, and auto accessories; and Temu, an online platform, which enables merchants to streamline their manufacturing and commercial operations.
Market Cap
$1.2T
Pitch Price
$143.88
Price Target
N/A
Dividend
N/A
EV/EBITDA
7.93
P/E
12.01
EV/Sales
1.82
Sector
Broadline Retail
Category
growth
Baron New Asia Fund Portfolio Holding - PDD Holdings Inc.
PDD captures 20% of China's e-commerce since 2015, 2nd largest. Team purchase model cuts costs, vital moat. Growth from demand for affordable goods, merchants leaving Alibaba, strong execution. Higher take rates fuel revenue. Share to rise on value focus, brands, efficiency. Temu leverages China's manufacturing for global cheap items, may breakeven in US. Expects doubled earnings & FCF in 3yrs, ongoing compounding.
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