Booking Holdings vs PDD Holdings: Fair Value & Quality
Both stocks run through our valuation models. Here is how Booking Holdings (BKNG) and PDD Holdings (PDD) compare, as of Aug 13, 2026.
As of Aug 13, 2026, Fair Value Calculator sees PDD Holdings as the more attractively valued of the two: Booking Holdings trades at $213 versus a fair value of $153 (-28%), while PDD Holdings trades at $90.50 versus $224 (+147%).
Booking Holdings
BKNG · USD · Consumer Discretionary
-28%
upside to fair value
overvalued
Price$213
Fair Value$153
Quality88/100
PDD Holdings
PDD · USD · Consumer Discretionary
+147%
upside to fair value
undervalued
Price$90.50
Fair Value$224
Quality66/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Booking HoldingsPDD Holdings
Valuation
24.1×P/E (TTM)9.1×
5.12×P/S (TTM)1.88×
—P/B2.00×
13.6×EV/EBITDA6.7×
0.75×PEG0.80×
0.9%Dividend yield—
$1.58Dividend per share—
Profitability
22%Net margin22%
25%Operating margin18%
226%Return on equity25%
22%Return on assets10%
Growth
16%Revenue growth (YoY)11%
16.3%Avg. growth/yr (3Y)49.0%
31.7%Avg. growth/yr (5Y)48.7%
Balance & size
—Debt / equity0.01×
$142BMarket cap$123B
healthyGrowth qualityhealthy
Booking Holdings leads: 6 to 5 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Booking Holdingsof which business quality 84 · market factors 52PDD Holdingsof which business quality 69 · market factors 38
ProfitabilityMargins and returns on capital today
87
76
Quality GrowthAre margins and returns improving?
43
22
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
92
33
Low VolatilityCalm price path (market factor)
55
79
MomentumPrice trend over the last 3–12 months (market factor)
50
22
52W MomentumDistance to the 52-week high (market factor)
54
19
Net IssuanceBuybacks instead of dilution
100
76
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Booking Holdings
DCF Models$253
Earnings-Based$132
Dividend Discount$28.34
Multiples$153
Growth DCF$231
Economic Profit$113
Growth Earnings$187
14 of 23 models see the stock below the current price.
PDD Holdings
DCF Models$2,071
Earnings-Based$2,406
Multiples$1,051
Asset-Based$195
Growth DCF$1,778
Economic Profit$890
Growth Earnings$3,194
0 of 24 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Booking Holdings
Bear $114Fair Value $153Bull $192
$213 = current price (white tick)
PDD Holdings
Bear $168Fair Value $224Bull $519
$90.50 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Booking Holdings · Consumer Discretionary
Quality score88 · Top 25%
Fair value upside-28% · below median
PDD Holdings · Consumer Discretionary
Quality score66 · Top 25%
Fair value upside+147% · Top 25%
Bottom line
As of Aug 13, 2026, Fair Value Calculator sees PDD Holdings as the more attractively valued of the two: Booking Holdings trades at $213 versus a fair value of $153 (-28%), while PDD Holdings trades at $90.50 versus $224 (+147%).
Booking Holdings has the higher quality score (88/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
