PDD Holdings Inc. vs PayPal Holdings, Inc., two Internet Retail stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
PDD Holdings runs Pinduoduo in China and Temu abroad; PayPal runs payments globally. PDD keeps the fatter margin at 22.66% against PayPal's 15%, and earns a hair less on equity, 23.67% to 25.26%, so the two operate at similar quality. Pricing splits them. PDD trades at 32.44 times earnings and 7.68 times book; PayPal at 8.31 and 2.03, a fraction of the cost. PayPal converts far more of its price to cash, 13.51% against PDD's 3.37%. Both run debt-free or nearly so. A buyer pays up for PDD's Chinese and cross-border growth or takes PayPal's proven cash at a single-digit multiple.
Comparison updated 2026-07-11.
| Metric | PDD | PYPL |
|---|---|---|
| Price | $85.11 | $46.33 |
| Market cap | $504.7B | $42.6B |
| Sector | Internet Retail | Internet Retail |
| Stage | Growth | Mature |
| P/E | 36.1 | 8.7 |
| P/B | 8.54 | 2.13 |
| P/S | 8.17 | 1.26 |
| EV/EBITDA | 36.5 | 7.4 |
| Revenue growth | +45.5% | +5.8% |
| Operating margin | 21.6% | 17.8% |
| Net margin | 22.7% | 15.0% |
| Return on equity | 23.7% | 25.3% |
| Return on assets | 15.5% | 6.3% |
| Return on invested capital | 18.4% | 15.4% |
| FCF yield | 3.0% | 12.9% |
| Dividend yield | — | 0.3% |
| Debt / equity | 0.00 | 0.54 |
| Current ratio | 2.43 | 1.26 |
| Altman Z (solvency) | 8.39 | 1.67 |
| Piotroski F (quality) | 5 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.