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Alibaba vs PDD: revenue, profit, margins and growth compared

Alibaba brought in $148.4B of revenue in fiscal 2026, PDD $61.8B in fiscal 2025. Revenue changed by +8.1% at Alibaba and +14.5% at PDD on the year before, so PDD grew faster. Alibaba kept 10.1% of its revenue as net profit, PDD 22.7%.

Side by side, latest fiscal year

BABAPDD
Fiscal year endedFY2026 (March 31, 2026)FY2025 (December 31, 2025)
Revenue$148.4B$61.8B
Revenue growth+8.1%+14.5%
Net income$15B$14B
Net margin10.1%22.7%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)$0.80$2.36
Cash$19.1B$15.6B
Debtn/an/a
Price to earningsn/an/a
Market value$256.1B$110.4B
Dividend yieldn/an/a
Rank by revenue in sector#5 of 955 · Consumer discretionary#15 of 955 · Consumer discretionary

Over the years

Revenue
BABA FY2019: $56.2BBABA FY2020: $72BBABA FY2021: $109.5BBABA FY2022: $134.6BBABA FY2023: $126.5BBABA FY2024: $130.4BBABA FY2025: $137.3BBABA FY2026: $148.4BPDD FY2018: $1.9BPDD FY2019: $4.3BPDD FY2020: $9.1BPDD FY2020: $14.7BPDD FY2022: $18.9BPDD FY2023: $34.9BPDD FY2024: $54BPDD FY2025: $61.8BFY18FY19FY20FY21FY22FY23FY24FY25FY26
BABA $148.4BPDD $61.8B
Net income
BABA FY2019: $13.1BBABA FY2020: $21.1BBABA FY2021: $23BBABA FY2022: $9.8BBABA FY2023: $10.6BBABA FY2024: $11.1BBABA FY2025: $17.9BBABA FY2026: $15BPDD FY2018: -$1.5BPDD FY2019: -$1BPDD FY2020: -$1.1BPDD FY2020: $1.2BPDD FY2022: $4.6BPDD FY2023: $8.5BPDD FY2024: $15.4BPDD FY2025: $14BFY18FY19FY20FY21FY22FY23FY24FY25FY26
BABA $15BPDD $14B
Net margin
BABA FY2019: 23.3%BABA FY2020: 29.3%BABA FY2021: 21.0%BABA FY2022: 7.3%BABA FY2023: 8.4%BABA FY2024: 8.5%BABA FY2025: 13.1%BABA FY2026: 10.1%PDD FY2018: -77.9%PDD FY2019: -23.1%PDD FY2020: -12.1%PDD FY2020: 8.3%PDD FY2022: 24.2%PDD FY2023: 24.2%PDD FY2024: 28.5%PDD FY2025: 22.7%FY18FY19FY20FY21FY22FY23FY24FY25FY26
BABA 10.1%PDD 22.7%
Revenue growth
BABA FY2020: +28.2%BABA FY2021: +52.1%BABA FY2022: +22.9%BABA FY2023: -6.0%BABA FY2024: +3.1%BABA FY2025: +5.3%BABA FY2026: +8.1%PDD FY2019: +126.9%PDD FY2020: +110.6%PDD FY2020: +61.7%PDD FY2022: +28.4%PDD FY2023: +84.3%PDD FY2024: +54.7%PDD FY2025: +14.5%FY19FY20FY21FY22FY23FY24FY25FY26
BABA +8.1%PDD +14.5%
Free cash flow
PDD FY2018: $1.1BPDD FY2019: $2.1BPDD FY2020: $4.3BFY18FY19FY20
BABAPDD $4.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Alibaba and PDD

Which is bigger by revenue, Alibaba or PDD?

Alibaba is bigger by revenue: $148.4B in fiscal 2026, against $61.8B for PDD in fiscal 2025.

Which keeps more of its revenue as profit, Alibaba or PDD?

Alibaba had a net margin of 10.1% in fiscal 2026; PDD had 22.7% in fiscal 2025.

Which grew revenue faster, Alibaba or PDD?

In their latest fiscal years revenue changed by +8.1% at Alibaba and +14.5% at PDD.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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