BAIDU INC CL A (BAIDF) Financials

BAIDF

FY2025 annual

Revenue $18.5B +1.2% YoY

Net Income $799.0M -75.5% YoY

Free Cash Flow -$2.2B -220.2% YoY

Operating Cash Flow -$431.0M -114.8% YoY

Market Cap $33.0B as of Sep 4, 2026

Price / Sales 1.8x on $18.5B revenue, FY2025

Price / Earnings 41.4x on $799.0M net income, FY2025

Price / Book 0.9x on $38.1B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 4, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Mar 17, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Mar 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BAIDF SEC filings page.

BAIDU INC CL A (BAIDF) reported $18.5B in revenue for fiscal year 2025, up 1.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BAIDF FY2025 2026-08-30

Baidu's dominant 2025 mechanic is margin compression that turned a previously cash-generative model into one requiring external financing.

FY2025 paired positive net income of $799M with an operating loss of -$833M, indicating that reported earnings included gains or items below operating income rather than reflecting core profitability. Operating cash flow then fell to -$431M and free cash flow to -$2.2B, showing that accounting profit did not translate into cash and that investment spending widened the shortfall.

Gross margin fell from 50.4% in FY2024 to 43.9% in FY2025, while operating margin moved from 16.0% to -4.5%. With revenue broadly stable across those years, the deterioration points to cost or mix pressure, not a volume-led downturn.

The current ratio declined from 3.0x in FY2023 to 1.8x in FY2025, leaving a smaller cushion of current assets against near-term obligations. Total assets reached $64.2B while liabilities reached $22.8B; alongside negative operating cash flow, that combination shows expansion was not funded solely by internally generated cash.

Financial Health Signals

Financial health score not available

BAIDU INC CL A does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Grey Zone

1.84

BAIDU INC CL A scores 1.84, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

1/8

BAIDU INC CL A passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing

$0.54used

For every $1 of reported earnings, BAIDU INC CL A used $0.54 of operating cash (-$431.0M OCF vs $799.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Interest Coverage At Risk

N/A

BAIDU INC CL A reported an operating loss of $833.0M against $398.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$3.5B

YoY+3.4%

QoQ+3.4%

BAIDU INC CL A held $3.5B in cash against $5.9B in long-term debt as of Q4 2025.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Shares Outstanding

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

BAIDF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BAIDF quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$18.5B+1.2%	$18.2B-3.8%	$19.0B+5.7%	$17.9B-8.2%	$19.5B+19.0%	$16.4B+6.4%	$15.4B+3.7%	$14.9B+14.1%	$13.0B+28.3%	$10.2B-0.8%	$10.2B+29.6%	$7.9B+49.8%	$5.3B+47.4%	$3.6B+55.4%	$2.3B
Cost of Revenue	$10.4B+14.4%	$9.1B-1.1%	$9.2B-1.2%	$9.3B-8.2%	$10.1B+19.4%	$8.5B-6.4%	$9.0B+20.0%	$7.5B+13.7%	$6.6B+30.3%	$5.1B+19.9%	$4.2B+39.3%	$3.0B+60.6%	$1.9B+83.1%	$1.0B+67.2%	$619.2M
Gross Profit	$8.1B-11.8%	$9.2B-6.3%	$9.8B+13.1%	$8.7B-8.3%	$9.4B+18.7%	$8.0B+24.3%	$6.4B-12.9%	$7.3B+14.6%	$6.4B+26.3%	$5.1B-15.5%	$6.0B+23.6%	$4.9B+43.8%	$3.4B+32.9%	$2.5B+51.1%	$1.7B
R&D Expenses	$2.9B-3.6%	$3.0B-11.0%	$3.4B+0.8%	$3.4B-13.6%	$3.9B+30.9%	$3.0B+13.4%	$2.6B+14.9%	$2.3B+15.5%	$2.0B+35.9%	$1.5B-6.9%	$1.6B+39.6%	$1.1B+65.9%	$678.4M+83.4%	$369.9M+74.5%	$212.0M
SG&A Expenses	$3.7B+14.2%	$3.2B-2.4%	$3.3B+11.4%	$3.0B-23.3%	$3.9B+40.1%	$2.8B-3.2%	$2.9B+2.3%	$2.8B+38.6%	$2.0B-7.0%	$2.2B-17.7%	$2.6B+57.5%	$1.7B+95.8%	$854.6M+112.9%	$401.5M+49.3%	$269.0M
Operating Income	-$833.0M-128.6%	$2.9B-5.3%	$3.1B+33.4%	$2.3B+39.7%	$1.7B-24.9%	$2.2B+142.6%	$906.0M-59.9%	$2.3B-6.3%	$2.4B+66.5%	$1.4B-19.7%	$1.8B-12.7%	$2.1B+11.6%	$1.8B+4.2%	$1.8B+47.4%	$1.2B
EBITDA	$267.0M-93.0%	$3.8B-6.3%	$4.1B+27.0%	$3.2B+26.1%	$2.5B-17.0%	$3.1B+79.0%	$1.7B-38.9%	$2.8B-33.2%	$4.2B+60.4%	$2.6B-3.4%	$2.7B+1.1%	$2.7B+17.1%	$2.3B+13.4%	$2.0B+50.0%	$1.3B
Interest Expense	$398.0M+2.8%	$387.0M-15.3%	$457.0M+8.3%	$422.0M-21.4%	$537.0M+12.8%	$476.0M+12.0%	$425.0M+55.1%	$274.0M+10.5%	$248.0M+48.7%	$166.7M+3.7%	$160.8M+58.7%	$101.3M+37.2%	$73.9M	N/A	N/A
Income Tax	$180.0M-70.4%	$609.0M+18.5%	$514.0M+37.4%	$374.0M-25.2%	$500.0M-19.7%	$623.0M+123.3%	$279.0M-59.6%	$690.0M+50.0%	$460.0M+9.6%	$419.6M-50.3%	$845.1M+135.0%	$359.6M+19.0%	$302.1M+19.6%	$252.7M+33.8%	$188.9M
Net Income	$799.0M-75.5%	$3.3B+13.8%	$2.9B+161.0%	$1.1B-31.7%	$1.6B-53.4%	$3.4B+1063.5%	$296.0M-92.6%	$4.0B+42.6%	$2.8B+67.8%	$1.7B-67.8%	$5.2B+144.5%	$2.1B+22.3%	$1.7B+3.5%	$1.7B+59.6%	$1.1B

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q2'2010-Q	Q4'1910-K

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

BAIDF Balance Sheet

BAIDF quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$64.2B+9.6%	$58.6B+2.3%	$57.3B+1.1%	$56.7B-4.9%	$59.6B+17.0%	$51.0B+17.8%	$43.3B0.0%	$43.3B+11.9%	$38.7B+47.6%	$26.2B+14.8%	$22.8B+42.1%	$16.1B+37.0%	$11.7B+60.0%	$7.3B+97.7%	$3.7B
Current Assets	$21.7B-6.1%	$23.1B-28.7%	$32.4B+5.1%	$30.9B-7.8%	$33.5B+19.1%	$28.1B+18.2%	$23.8B+5.4%	$22.6B-2.9%	$23.2B+61.7%	$14.4B+19.0%	$12.1B+13.8%	$10.6B+49.3%	$7.1B+27.7%	$5.6B+121.0%	$2.5B
Cash & Equivalents	$3.5B+3.4%	$3.4B-4.3%	$3.6B-53.9%	$7.7B+33.3%	$5.8B+5.5%	$5.5B+14.2%	$4.8B+19.5%	$4.0B+135.9%	$1.7B+1.7%	$1.7B+16.8%	$1.4B-32.9%	$2.1B+36.9%	$1.6B-20.4%	$2.0B+196.2%	$662.5M
Short-Term Investments	$13.0B-7.8%	$14.1B-40.8%	$23.8B+35.6%	$17.5B-22.1%	$22.5B+16.0%	$19.4B+19.4%	$16.2B-0.1%	$16.2B+18.2%	$13.7B+20.8%	$11.4B+27.1%	$8.9B+26.7%	$7.1B+48.8%	$4.7B+43.5%	$3.3B+107.1%	$1.6B
Accounts Receivable	$1.9B+34.0%	$1.4B-9.4%	$1.5B-10.2%	$1.7B+8.6%	$1.6B+17.9%	$1.3B+24.7%	$1.1B+21.7%	$875.0M+24.5%	$703.0M+18.8%	$591.9M-2.4%	$606.3M+2.7%	$590.6M+61.0%	$366.9M+82.3%	$201.2M+111.2%	$95.3M
Long-Term Investments	$6.4B+12.4%	$5.7B-15.4%	$6.8B-15.7%	$8.0B-24.1%	$10.6B-9.6%	$11.7B+17.2%	$10.0B-14.8%	$11.7B+35.3%	$8.7B+31.5%	$6.6B+12.3%	$5.9B+1162.9%	$464.0M+342.5%	$104.9M-18.7%	$129.0M+10.5%	$116.7M
Goodwill	$5.3B+70.0%	$3.1B-2.7%	$3.2B-2.4%	$3.3B-8.1%	$3.5B+4.0%	$3.4B+30.1%	$2.6B-2.8%	$2.7B+11.0%	$2.4B+9.9%	$2.2B-7.0%	$2.4B-15.3%	$2.8B+3.3%	$2.7B+324.3%	$640.5M+64.9%	$388.4M
Total Liabilities	$22.8B+15.4%	$19.8B-2.7%	$20.3B-8.6%	$22.2B-9.3%	$24.5B+13.4%	$21.6B+17.0%	$18.5B+4.2%	$17.7B-5.0%	$18.7B+53.7%	$12.1B+23.5%	$9.8B+35.0%	$7.3B+45.3%	$5.0B+69.1%	$3.0B+165.8%	$1.1B
Current Liabilities	$12.3B+11.3%	$11.1B+3.0%	$10.8B-6.7%	$11.5B-1.2%	$11.7B+11.5%	$10.5B+27.2%	$8.2B-0.3%	$8.3B-34.4%	$12.6B+89.9%	$6.6B+64.8%	$4.0B+23.3%	$3.3B+79.3%	$1.8B+37.9%	$1.3B+88.8%	$700.1M
Non-Current Liabilities	$10.5B+20.7%	$8.7B-9.2%	$9.5B-10.6%	$10.7B-16.7%	$12.8B+15.3%	$11.1B+8.7%	$10.2B+8.1%	$9.4B+56.4%	$6.0B+9.9%	$5.5B-5.2%	$5.8B+44.5%	$4.0B+25.9%	$3.2B+94.3%	$1.6B+295.7%	$414.4M
Long-Term Debt	$5.9B+19.7%	$4.9B-14.6%	$5.8B-14.9%	$6.8B-19.4%	$8.4B+13.4%	$7.4B+19.3%	$6.2B-13.8%	$7.2B+31.8%	$5.5B+15.7%	$4.7B	N/A	N/A	N/A	N/A	N/A
Total Equity	$38.1B+5.5%	$36.1B+5.3%	$34.3B+5.9%	$32.4B-2.4%	$33.2B+18.5%	$28.0B+19.1%	$23.5B-0.8%	$23.7B+33.6%	$17.7B+33.4%	$13.3B+7.3%	$12.4B+49.2%	$8.3B+30.8%	$6.3B+51.8%	$4.2B+72.1%	$2.4B
Retained Earnings	$25.4B+3.0%	$24.7B+8.6%	$22.7B+5.6%	$21.5B-5.6%	$22.8B+9.9%	$20.7B+14.3%	$18.1B-3.5%	$18.8B+19.5%	$15.7B+27.4%	$12.3B+7.1%	$11.5B+50.0%	$7.7B+34.7%	$5.7B+47.8%	$3.9B+78.5%	$2.2B

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q2'2010-Q	Q4'1910-K
Total Assets	$64.2B+9.6%	$58.6B+2.3%	$57.3B+1.1%	$56.7B-4.9%	$59.6B+17.0%	$51.0B+17.8%	$43.1B	$43.3B0.0%
Current Assets	$21.7B-6.1%	$23.1B-28.7%	$32.4B+5.1%	$30.9B-7.8%	$33.5B+19.1%	$28.1B+18.2%	$24.4B	$23.8B+5.4%
Cash & Equivalents	$3.5B+3.4%	$3.4B-4.3%	$3.6B-53.9%	$7.7B+33.3%	$5.8B+5.5%	$5.5B+14.2%	$2.9B	$4.8B+19.5%
Short-Term Investments	$13.0B-7.8%	$14.1B-40.8%	$23.8B+35.6%	$17.5B-22.1%	$22.5B+16.0%	$19.4B+19.4%	$18.7B	$16.2B-0.1%
Accounts Receivable	$1.9B+34.0%	$1.4B-9.4%	$1.5B-10.2%	$1.7B+8.6%	$1.6B+17.9%	$1.3B+24.7%	$949.0M	$1.1B+21.7%
Long-Term Investments	$6.4B+12.4%	$5.7B-15.4%	$6.8B-15.7%	$8.0B-24.1%	$10.6B-9.6%	$11.7B+17.2%	$9.7B	$10.0B-14.8%
Goodwill	$5.3B+70.0%	$3.1B-2.7%	$3.2B-2.4%	$3.3B-8.1%	$3.5B+4.0%	$3.4B+30.1%	$2.7B	$2.6B-2.8%
Total Liabilities	$22.8B+15.4%	$19.8B-2.7%	$20.3B-8.6%	$22.2B-9.3%	$24.5B+13.4%	$21.6B+17.0%	$18.8B	$18.5B+4.2%
Current Liabilities	$12.3B+11.3%	$11.1B+3.0%	$10.8B-6.7%	$11.5B-1.2%	$11.7B+11.5%	$10.5B+27.2%	$8.6B	$8.2B-0.3%
Non-Current Liabilities	$10.5B+20.7%	$8.7B-9.2%	$9.5B-10.6%	$10.7B-16.7%	$12.8B+15.3%	$11.1B+8.7%	$10.2B	$10.2B+8.1%
Long-Term Debt	$5.9B+19.7%	$4.9B-14.6%	$5.8B-14.9%	$6.8B-19.4%	$8.4B+13.4%	$7.4B+19.3%	$6.5B	$6.2B-13.8%
Total Equity	$38.1B+5.5%	$36.1B+5.3%	$34.3B+5.9%	$32.4B-2.4%	$33.2B+18.5%	$28.0B+19.1%	$23.3B	$23.5B-0.8%
Retained Earnings	$25.4B+3.0%	$24.7B+8.6%	$22.7B+5.6%	$21.5B-5.6%	$22.8B+9.9%	$20.7B+14.3%	$17.6B	$18.1B-3.5%

Not reported in any period shown, so not listed: Inventory.

BAIDF Cash Flow Statement

BAIDF quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$431.0M-114.8%	$2.9B-43.6%	$5.2B+35.9%	$3.8B+20.1%	$3.2B-14.9%	$3.7B-9.3%	$4.1B-21.9%	$5.2B+3.5%	$5.1B+57.6%	$3.2B+6.9%	$3.0B+3.7%	$2.9B+26.9%	$2.3B+18.3%	$1.9B+48.2%	$1.3B
Depreciation & Amortization	$1.1B+21.0%	$909.0M-9.1%	$1.0B+10.5%	$905.0M+1.0%	$896.0M+3.1%	$869.0M+7.7%	$807.0M+48.6%	$543.0M-69.6%	$1.8B+52.9%	$1.2B+29.1%	$904.8M+47.4%	$613.9M+40.1%	$438.1M+80.1%	$243.2M+73.0%	$140.6M
Stock-Based Compensation	$517.0M-21.1%	$655.0M-26.7%	$894.0M-9.1%	$984.0M-11.1%	$1.1B+7.4%	$1.0B+27.6%	$808.0M+18.6%	$681.0M+36.5%	$499.0M+96.9%	$253.5M+18.4%	$214.1M+38.0%	$155.2M+82.5%	$85.0M+149.5%	$34.1M+41.1%	$24.2M
Capital Expenditures	$1.7B+54.9%	$1.1B-29.3%	$1.6B+31.2%	$1.2B-29.8%	$1.7B+119.5%	$779.0M-15.6%	$923.0M-27.7%	$1.3B+73.6%	$735.0M+21.8%	$603.4M-25.3%	$807.3M+3.8%	$778.0M+70.9%	$455.4M+22.8%	$370.9M+32.5%	$280.0M
Free Cash Flow	-$2.2B-220.2%	$1.8B-49.9%	$3.6B+38.1%	$2.6B+79.1%	$1.4B-50.6%	$2.9B-7.4%	$3.2B-20.0%	$4.0B-8.4%	$4.3B+66.0%	$2.6B+18.8%	$2.2B+3.7%	$2.1B+15.9%	$1.8B+17.3%	$1.6B+52.5%	$1.0B
Investing Cash Flow	-$3.6B-206.7%	-$1.2B+83.5%	-$7.1B-1140.9%	-$572.0M+88.4%	-$4.9B-16.8%	-$4.2B-47.2%	-$2.9B+42.8%	-$5.0B	N/A	N/A	N/A	N/A	-$3.9B-74.6%	-$2.2B+2.5%	-$2.3B
Financing Cash Flow	$2.5B+230.0%	-$1.9B+5.5%	-$2.0B-115.4%	-$926.0M-125.2%	$3.7B+322.4%	$869.0M+256.3%	-$556.0M-125.3%	$2.2B	N/A	N/A	N/A	N/A	$1.2B-18.5%	$1.5B+296.4%	$385.4M
Share Buybacks	$792.0M-8.5%	$866.0M+29.1%	$671.0M+140.5%	$279.0M-76.6%	$1.2B-40.5%	$2.0B+181.0%	$712.0M+47.7%	$482.0M+81.9%	$265.0M	$0-100.0%	$984.4M	N/A	N/A	N/A	$0

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q2'2010-Q	Q4'1910-K

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

BAIDF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BAIDF quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	43.9%-6.5pp	50.3%-1.3pp	51.7%+3.4pp	48.3%0.0pp	48.3%-0.1pp	48.5%+7.0pp	41.5%-7.9pp	49.4%+0.2pp	49.2%-0.8pp	50.0%-8.7pp	58.6%-2.9pp	61.5%-2.6pp	64.1%-7.0pp	71.1%-2.0pp	73.1%
Operating Margin	-4.5%-20.5pp	16.0%-0.3pp	16.2%+3.4pp	12.9%+4.4pp	8.5%-4.9pp	13.4%+7.5pp	5.9%-9.3pp	15.2%-3.3pp	18.5%+4.3pp	14.2%-3.3pp	17.6%-8.5pp	26.1%-8.9pp	35.0%-14.5pp	49.5%-2.7pp	52.3%
Net Margin	4.3%-13.5pp	17.8%+2.8pp	15.1%+9.0pp	6.1%-2.1pp	8.2%-12.8pp	21.0%+19.1pp	1.9%-25.0pp	27.0%+5.4pp	21.6%+5.1pp	16.5%-34.2pp	50.7%+23.8pp	26.9%-6.0pp	32.9%-14.0pp	46.9%+1.2pp	45.6%
Return on Equity	2.1%-6.9pp	9.0%+0.7pp	8.3%+5.0pp	3.4%-1.5pp	4.8%-7.5pp	12.3%+11.0pp	1.3%-15.7pp	16.9%+1.1pp	15.9%+3.3pp	12.6%-29.3pp	41.9%+16.4pp	25.6%-1.8pp	27.4%-12.8pp	40.1%-3.2pp	43.3%
Return on Assets	1.2%-4.3pp	5.5%+0.6pp	5.0%+3.1pp	1.9%-0.8pp	2.7%-4.1pp	6.8%+6.1pp	0.7%-8.6pp	9.3%+2.0pp	7.3%+0.9pp	6.4%-16.4pp	22.8%+9.5pp	13.2%-1.6pp	14.8%-8.1pp	22.9%-5.5pp	28.4%
Current Ratio	1.76-0.3x	2.09-0.9x	3.01+0.3x	2.67-0.2x	2.86+0.2x	2.68-0.2x	2.89+0.2x	2.73+0.9x	1.84-0.3x	2.16-0.8x	3.00-0.3x	3.25-0.7x	3.90-0.3x	4.21+0.6x	3.60
Debt-to-Equity	0.160.0x	0.140.0x	0.170.0x	0.210.0x	0.250.0x	0.270.0x	0.260.0x	0.300.0x	0.310.0x	0.36-0.4x	0.79-0.1x	0.88+0.1x	0.79+0.1x	0.71+0.2x	0.46
Asset Turnover	0.290.0x	0.310.0x	0.330.0x	0.320.0x	0.330.0x	0.320.0x	0.360.0x	0.340.0x	0.34-0.1x	0.39-0.1x	0.450.0x	0.490.0x	0.450.0x	0.49-0.1x	0.62
FCF Margin	-11.7%-21.5pp	9.8%-9.1pp	18.9%+4.4pp	14.5%+7.1pp	7.4%-10.4pp	17.8%-2.7pp	20.5%-6.1pp	26.6%-6.5pp	33.1%+7.5pp	25.6%+4.2pp	21.4%-5.3pp	26.7%-7.8pp	34.5%-8.9pp	43.4%-0.8pp	44.3%

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q2'2010-Q	Q4'1910-K
Current Ratio	1.76-0.3x	2.09-0.9x	3.01+0.3x	2.67-0.2x	2.86+0.2x	2.68-0.2x	2.85	2.89+0.2x
Debt-to-Equity	0.160.0x	0.140.0x	0.170.0x	0.210.0x	0.250.0x	0.270.0x	0.28	0.260.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Where BAIDU INC CL A Ranks

Frequently Asked Questions

What is BAIDU INC CL A's annual revenue?

BAIDU INC CL A (BAIDF) reported $18.5B in total revenue for fiscal year 2025. This represents a 1.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is BAIDU INC CL A's revenue growing?

BAIDU INC CL A (BAIDF) revenue grew by 1.2% year-over-year, from $18.2B to $18.5B in fiscal year 2025.

Is BAIDU INC CL A profitable?

Yes, BAIDU INC CL A (BAIDF) reported a net income of $799.0M in fiscal year 2025, with a net profit margin of 4.3%.

What is BAIDU INC CL A's EBITDA?

BAIDU INC CL A (BAIDF) had EBITDA of $267.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does BAIDU INC CL A have?

As of fiscal year 2025, BAIDU INC CL A (BAIDF) had $3.5B in cash and equivalents against $5.9B in long-term debt.

What is BAIDU INC CL A's gross margin?

BAIDU INC CL A (BAIDF) had a gross margin of 43.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is BAIDU INC CL A's operating margin?

BAIDU INC CL A (BAIDF) had an operating margin of -4.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is BAIDU INC CL A's net profit margin?

BAIDU INC CL A (BAIDF) had a net profit margin of 4.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is BAIDU INC CL A's return on equity (ROE)?

BAIDU INC CL A (BAIDF) has a return on equity of 2.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is BAIDU INC CL A's free cash flow?

BAIDU INC CL A (BAIDF) recorded an outflow of $2.2B in free cash flow during fiscal year 2025. This represents a -220.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is BAIDU INC CL A's operating cash flow?

BAIDU INC CL A (BAIDF) recorded an outflow of $431.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are BAIDU INC CL A's total assets?

BAIDU INC CL A (BAIDF) had $64.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are BAIDU INC CL A's capital expenditures?

BAIDU INC CL A (BAIDF) invested $1.7B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does BAIDU INC CL A spend on research and development?

BAIDU INC CL A (BAIDF) invested $2.9B in research and development during fiscal year 2025.

Does BAIDU INC CL A buy back shares?

Yes, BAIDU INC CL A (BAIDF) spent $792.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is BAIDU INC CL A's current ratio?

BAIDU INC CL A (BAIDF) had a current ratio of 1.76 as of fiscal year 2025, which is generally considered healthy.

What is BAIDU INC CL A's debt-to-equity ratio?

BAIDU INC CL A (BAIDF) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is BAIDU INC CL A's return on assets (ROA)?

BAIDU INC CL A (BAIDF) had a return on assets of 1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is BAIDU INC CL A's P/E ratio?

BAIDU INC CL A (BAIDF) trades at 41.4x earnings, its market capitalization divided by net income of $799.0M net income, FY2025. The market capitalization is $33.0B as of Sep 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is BAIDU INC CL A's price-to-sales ratio?

BAIDU INC CL A (BAIDF) trades at 1.8x sales, its market capitalization divided by revenue of $18.5B revenue, FY2025. The market capitalization is $33.0B as of Sep 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is BAIDU INC CL A's Altman Z-Score?

BAIDU INC CL A (BAIDF) has an Altman Z-Score of 1.84, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is BAIDU INC CL A's Piotroski F-Score?

BAIDU INC CL A (BAIDF) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are BAIDU INC CL A's earnings high quality?

For every $1 of reported earnings, BAIDU INC CL A (BAIDF) used $0.54 of operating cash (-$431.0M OCF vs $799.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can BAIDU INC CL A cover its interest payments?

BAIDU INC CL A (BAIDF) reported an operating loss of $833.0M against $398.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.