Pre-tax margin is the percentage of revenue left as profit after every expense except income tax. It is income before income tax divided by revenue, and the table shows both amounts beside the percentage. It sits between operating margin and net margin: it includes interest and other non-operating items but not the tax charge, so the gap down to net margin is the tax burden. Quarterly and annual points each use the amounts filed for that same period, so a single quarter can swing with the seasons.
PDD Holdings Inc. pre-tax margin for fiscal 2025 was 27.69%, a 17.82% decline from fiscal 2024.
PDD Holdings Inc. pre-tax margin for fiscal 2024 was 33.69%, a 16.09% increase from fiscal 2023.
PDD Holdings Inc. pre-tax margin for fiscal 2023 was 29.02%, a 4.50% increase from fiscal 2022.
PDD Holdings Inc. pre-tax margin for fiscal 2022 was 27.78%, a 168.96% increase from fiscal 2021.