PDD
PDD Holdings Inc.
PDD has the edge over RIVN overall, supported by lower modeled downside and stronger fundamentals.
RIVN
Rivian Automotive, Inc.
RIVN offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
PDD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
PDD's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
RIVN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
RIVN's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
PDD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 8.2x | $77.53 | — |
| Cheap | 9.9x | $94.09 | +21% |
| Fair | 17x | $164 | +112% |
| Expensive | 32x | $303 | +291% |
Historical ranges are pointers, not guarantees.
PDD's PE is 8.2x, but its earnings don't support one, so it isn't a reliable read right now.
RIVN PE Valuation
RIVN has no meaningful PE right now: it lost money over the past year.
PDD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect PDD's revenue to grow, but its profitability to weaken.
RIVN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
RIVN has the edge over PDD on the outlook, with more favorable earnings and profitability expectations.
PDD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $9.46 | -4.7% |
| Q1 2026 | $9.81 | -2.4% |
| Q4 2025 | $10.05 | -12% |
| Q3 2025 | $10.35 | -5.9% |
| Q2 2025 | $9.93 | -1.2% |
| Q1 2025 | $10.05 | +23% |
| Q4 2024 | $11.41 | +86% |
| Q3 2024 | $11.00 | +132% |
PDD has the edge over RIVN on earnings quality, reporting a profit while its opponent remains loss making.
RIVN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.25 | +$0.83 |
| Q2 2026 | -$2.58 | +$0.62 |
| Q1 2026 | -$2.92 | +$0.77 |
| Q4 2025 | -$3.07 | +$1.62 |
| Q3 2025 | -$3.08 | +$2.52 |
| Q2 2025 | -$3.20 | +$2.76 |
| Q1 2025 | -$3.69 | +$2.08 |
| Q4 2024 | -$4.69 | +$1.05 |
RIVN is still losing money, but far less than before: $2.25 per share over the past year, against $7.40 at its worst in late 2022.
PDD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $16.9B | +8.1% |
| Q1 2026 | $15.9B | +11% |
| Q4 2025 | $18.6B | +12% |
| Q3 2025 | $16.2B | +9% |
| Q2 2025 | $15.6B | +7.1% |
| Q1 2025 | $14.4B | +10% |
| Q4 2024 | $16.6B | +24% |
| Q3 2024 | $14.9B | +44% |
PDD's revenue has grown year over year every quarter since late 2020: $16.9B last quarter, up 8.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 25% | -0.1 points |
| Q1 2026 | 18% | +1.6 points |
| Q4 2025 | 21% | -2 points |
| Q3 2025 | 23% | -1.3 points |
| Q2 2025 | 25% | -8.7 points |
| Q1 2025 | 17% | -13 points |
| Q4 2024 | 23% | -2.1 points |
| Q3 2024 | 24% | +0.3 points |
PDD has the edge over RIVN on profitability, with a higher operating margin.
RIVN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | +38% |
| Q2 2026 | $1.7B | +27% |
| Q1 2026 | $1.4B | +11% |
| Q4 2025 | $1.3B | -26% |
| Q3 2025 | $1.6B | +78% |
| Q2 2025 | $1.3B | +13% |
| Q1 2025 | $1.2B | +3% |
| Q4 2024 | $1.7B | +32% |
RIVN's revenue is growing: $2.2B last quarter, up 38% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -41% | +22 points |
| Q2 2026 | -50% | +35 points |
| Q1 2026 | -64% | -11 points |
| Q4 2025 | -65% | -27 points |
| Q3 2025 | -63% | +71 points |
| Q2 2025 | -86% | +33 points |
| Q1 2025 | -53% | +70 points |
| Q4 2024 | -38% | +82 points |
RIVN's operating margin was −41% last quarter, up 22 points from the same quarter a year ago, near the top of its range since 2021.
PDD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $3.9B | +19% |
| Q1 2026 | $2.5B | +6% |
| Q4 2025 | $3.6B | -16% |
| Q3 2025 | $6.9B | +66% |
| Q2 2025 | $3.2B | -51% |
| Q1 2025 | $2.3B | -26% |
| Q4 2024 | $4.3B | -21% |
| Q3 2024 | $4.1B | -15% |
PDD has the edge over RIVN on cash generation, producing positive trailing cash flow while its opponent burns cash.
RIVN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.1B | -$703M |
| Q2 2026 | -$849M | -$451M |
| Q1 2026 | -$1.1B | -$549M |
| Q4 2025 | -$1.1B | -234% |
| Q3 2025 | -$421M | +$732M |
| Q2 2025 | -$398M | +$639M |
| Q1 2025 | -$526M | +$997M |
| Q4 2024 | $856M | +$2.3B |
RIVN has burned cash in almost every quarter: −$4.2B over the past year, against −$489M the year before.
PDD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -6.5M shares |
| 1 year | -0.6% | -8.4M shares |
| 3 years | +1% | +15.2M shares |
| 5 years | +3.1% | +43.6M shares |
| Available history | +27% | +311M shares |
PDD has the edge over RIVN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
PDD hasn't bought back shares in the past year.
RIVN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.1% | +121M shares |
| 1 year | +19% | +226M shares |
| 3 years | +52% | +494M shares |
RIVN has 1.4B diluted shares, up 19% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $6M |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
PDD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.9x | Net Cash |
| Q1 2026 | -1.4x | Net Cash |
| Q4 2025 | -1.3x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
| Q3 2024 | -0.4x | Net Cash |
PDD has more cash than debt.
RIVN Net Leverage
RIVN's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
PDD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.2 | Neutral |
| Stochastic | 27.1 | Neutral |
PDD's weekly RSI is 41 (neutral) and its Stochastic is 27 (neutral).
RIVN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.5 | Neutral |
| Stochastic | 25.6 | Neutral |
RIVN's weekly RSI is 41 (neutral) and its Stochastic is 26 (neutral).
PDD PE vs Consumer Cyclical Sector
| Metric | PDD | Sector median | Relative |
|---|---|---|---|
| PE | 8.2x | 18x | 54% below |
| PE % | 2 | 47 | 45 pts below |
PDD is trading at 8.2x earnings, a 54% discount to the Consumer Cyclical sector's median of 18x, though its earnings don't support one.
RIVN PE vs Consumer Cyclical Sector
RIVN has no meaningful PE right now: it lost money over the past year.
PDD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $79.2 | 2.1% below |
| 20 week MA | $82.3 | 5.8% below |
| 50 week MA | $93.3 | 17% below |
| 100 week MA | $104.0 | 25% below |
| 200 week MA | $107.0 | 28% below |
PDD is in a downtrend: it's below all five of its weekly moving averages, and 28% below its 200-week average.
RIVN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.3 | 3.9% below |
| 20 week MA | $15.1 | 15% below |
| 50 week MA | $15.9 | 19% below |
| 100 week MA | $14.7 | 13% below |
| 200 week MA | $15.1 | 15% below |
RIVN is in a downtrend: it's below all five of its weekly moving averages, and 15% below its 200-week average.
PDD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $39.2 | $152.8 | +289% |
| 2021 | $152.8 | $57.7 | -62% |
| 2022 | $57.7 | $84.0 | +46% |
| 2023 | $84.0 | $146.3 | +74% |
| 2024 | $146.3 | $97.5 | -33% |
| 2025 | $97.5 | $115.0 | +18% |
| 2026 YTD | $115.0 | $77.5 | -33% |
PDD has the edge over RIVN on returns for 2026, with the stronger performance.
RIVN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $130.0 | $96.8 | -25% |
| 2022 | $96.8 | $19.1 | -80% |
| 2023 | $19.1 | $23.5 | +23% |
| 2024 | $23.5 | $13.7 | -42% |
| 2025 | $13.7 | $20.9 | +53% |
| 2026 YTD | $20.9 | $12.8 | -39% |
RIVN has finished lower in three of the last five years. It's down 39% so far in 2026.