Baidu Inc (BIDU) Financials

BIDU

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 $31.6B as of Sep 9, 2026

Price / Sales 1.7x on $18.5B revenue, FY2025

Price / Earnings 39.6x on $799.0M net income, FY2025

Price / Book 0.8x 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 9, 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 BIDU SEC filings page.

Baidu Inc (BIDU) 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 BIDU FY2025 2026-08-30

Baidu’s 2025 profile shifted from cash-generative operations to accounting profit supported by below-operating items and heavier reinvestment.

With revenue broadly flat, gross margin fell to 43.9% from 50.4%, pointing to mix or cost pressure rather than a volume-led change. Operating cash flow turned negative at -$431M while net income stayed positive at $799M, so reported earnings and cash economics diverged sharply.

Total assets rose to $64.2B as goodwill reached $5.3B, making the asset increase less clearly tied to operating capacity. Operating profitability reversed to -4.5%, despite revenue remaining near prior-year levels.

The liquidity cushion narrowed: the current ratio fell to 1.8x from 3.0x in FY2023, reducing working-capital flexibility. Debt-to-equity remained low at 0.2x, so the deterioration was more about near-term liquidity and operating cash generation than debt burden; free cash flow was -$2.2B against $1.7B of capital expenditures.

Financial Health Signals

Financial Health Score 34/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Baidu Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Baidu Inc has an operating margin of -4.5%, meaning the company loses $5 on every $100 of revenue. This results in a profitability score of 50/100. This is down from 16.0% the prior year.

Growth

Baidu Inc's revenue grew a modest 1.2% year-over-year to $18.5B. This slow but positive growth earns a score of 27/100.

Leverage

Baidu Inc has elevated debt relative to equity (D/E of 0.16), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 6/100, reflecting increased financial risk.

Liquidity

Baidu Inc's current ratio of 1.76 indicates adequate short-term liquidity, earning a score of 52/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Baidu Inc's operations used $431.0M of cash, and capex of $1.7B added to the outflow, for a free cash flow shortfall of $2.2B. This results in a cash flow score of 28/100.

Returns

Baidu Inc's ROE of 2.1% shows moderate profitability relative to equity, earning a score of 41/100. This is down from 9.0% the prior year.

Altman Z-Score Distress

1.81

Baidu Inc scores 1.81, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

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 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 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 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 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.

BIDU 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.

BIDU 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).

BIDU Balance Sheet

BIDU 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.

BIDU Cash Flow Statement

BIDU 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.

BIDU 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.

BIDU 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.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Baidu Inc BIDU	FY2025	$18.5B	$799.0M	4.3%	$31.6B	34/100
Reddit RDDT	FY2025	$2.2B	$530.0M	24.1%	$29.7B	68/100
Pinterest PINS	FY2025	$4.2B	$416.9M	9.9%	$11.6B	70/100
Zillow Group Inc Z	FY2025	$2.6B	$23.0M	0.9%	$7.8B	58/100
Nebius Group NBIS	FY2025	$529.8M	$82.5M	15.6%	$61.5B	61/100

Where Baidu Inc Ranks

Frequently Asked Questions

What is Baidu Inc's annual revenue?

Baidu Inc (BIDU) 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's revenue growing?

Baidu Inc (BIDU) revenue grew by 1.2% year-over-year, from $18.2B to $18.5B in fiscal year 2025.

Is Baidu Inc profitable?

Yes, Baidu Inc (BIDU) reported a net income of $799.0M in fiscal year 2025, with a net profit margin of 4.3%.

What is Baidu Inc's EBITDA?

Baidu Inc (BIDU) had EBITDA of $267.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Baidu Inc have?

As of fiscal year 2025, Baidu Inc (BIDU) had $3.5B in cash and equivalents against $5.9B in long-term debt.

What is Baidu Inc's gross margin?

Baidu Inc (BIDU) 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's operating margin?

Baidu Inc (BIDU) 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's net profit margin?

Baidu Inc (BIDU) 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's return on equity (ROE)?

Baidu Inc (BIDU) 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's free cash flow?

Baidu Inc (BIDU) 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's operating cash flow?

Baidu Inc (BIDU) 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's total assets?

Baidu Inc (BIDU) had $64.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Baidu Inc's capital expenditures?

Baidu Inc (BIDU) invested $1.7B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Baidu Inc spend on research and development?

Baidu Inc (BIDU) invested $2.9B in research and development during fiscal year 2025.

Does Baidu Inc buy back shares?

Yes, Baidu Inc (BIDU) spent $792.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Baidu Inc's current ratio?

Baidu Inc (BIDU) had a current ratio of 1.76 as of fiscal year 2025, which is generally considered healthy.

What is Baidu Inc's debt-to-equity ratio?

Baidu Inc (BIDU) 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's return on assets (ROA)?

Baidu Inc (BIDU) 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's P/E ratio?

Baidu Inc (BIDU) trades at 39.6x earnings, its market capitalization divided by net income of $799.0M net income, FY2025. The market capitalization is $31.6B as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Baidu Inc's price-to-sales ratio?

Baidu Inc (BIDU) trades at 1.7x sales, its market capitalization divided by revenue of $18.5B revenue, FY2025. The market capitalization is $31.6B as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Baidu Inc's Altman Z-Score?

Baidu Inc (BIDU) has an Altman Z-Score of 1.81, placing it in the Distress Zone (elevated bankruptcy 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's Piotroski F-Score?

Baidu Inc (BIDU) 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's earnings high quality?

For every $1 of reported earnings, Baidu Inc (BIDU) 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 cover its interest payments?

Baidu Inc (BIDU) 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.

How financially healthy is Baidu Inc?

Baidu Inc (BIDU) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.