Baidu, Inc. BIDU

Technology SIC 7370 - Services-Computer Programming, Data Processing, Etc. NAICS Professional, Scientific, and Technical Services › Computer Systems Design and Related Services derived Nasdaq

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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.

Valuation FY2025 figures against the last close

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Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $18.46B$18.24B$18.96B$17.93B$19.54B$16.41B$15.43B$14.88B$13.03B$10.16B
Cost of revenue $10.36B$9.06B$9.16B$9.27B$10.09B$8.45B$9.03B$7.53B$6.62B$5.08B
Gross profit $8.10B$9.18B$9.80B$8.66B$9.44B$7.96B$6.40B$7.35B$6.42B$5.08B
R&D $2.92B$3.03B$3.41B$3.38B$3.91B$2.99B$2.63B$2.29B$1.99B$1.46B
SG&A $3.70B$3.24B$3.31B$2.98B$3.88B$2.77B$2.86B$2.80B$2.02B$2.17B
Total operating expenses $19.29B$15.32B$15.88B$15.62B$17.89B$14.21B$14.52B$12.62B$10.62B$8.71B
Operating income -$833.0M$2.91B$3.08B$2.31B$1.65B$2.20B$906.0M$2.26B$2.41B$1.45B
Pre-tax income $960.0M$3.92B$3.55B$1.47B$1.69B$3.54B-$49.0M$3.97B$3.27B$2.09B
Income tax $180.0M$609.0M$514.0M$374.0M$500.0M$623.0M$279.0M$690.0M$460.0M$419.6M
Net income $799.0M$3.25B$2.86B$1.10B$1.60B$3.44B$296.0M$4.01B$2.81B$1.68B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $3.52B$5.23B$5.15B$9.19B$6.91B$5.73B$5.28B$4.28B$1.65B$1.68B
Short-term investments $12.96B$14.06B$23.76B$17.52B$22.48B$19.37B$16.22B$16.23B$13.74B$11.37B
Receivables $1.85B$1.38B$1.53B$1.70B$1.57B$1.33B$1.06B$875.0M$703.0M$591.9M
Total current assets $21.73B$23.13B$32.43B$30.86B$33.47B$28.10B$23.78B$22.56B$23.23B$14.37B
Property, plant and equipment $3.76B$4.12B$3.94B$3.48B$3.61B$2.68B$2.63B$2.60B$1.92B$1.63B
Goodwill $5.26B$3.09B$3.18B$3.26B$3.55B$3.41B$2.62B$2.70B$2.43B$2.21B
Other intangibles $556.0M$106.0M$124.0M$182.0M$265.0M$310.0M$1.13B$1.33B$840.0M$557.7M
Total assets $64.23B$58.61B$57.29B$56.69B$59.64B$50.99B$43.28B$43.28B$38.69B$26.21B
Accounts payable $5.56B$5.68B$5.31B$5.51B$6.49B$5.63B$4.70B$5.15B$4.23B$4.13B
Short-term debt $208.0M$31.0M$384.0M$980.0M$654.0M$462.0M$376.0M$443.0M$191.0M$160.6M
Total current liabilities $12.34B$11.09B$10.77B$11.55B$11.69B$10.48B$8.24B$8.27B$12.61B$6.64B
Long-term debt $5.91B$4.93B$5.78B$6.79B$8.41B$7.42B$6.22B$7.21B$5.47B$4.73B
Total liabilities $22.80B$19.75B$20.30B$22.21B$24.49B$21.59B$18.46B$17.72B$18.65B$12.14B
Retained earnings $25.41B$24.67B$22.71B$21.51B$22.78B$20.73B$18.14B$18.80B$15.73B$12.35B
Total equity $38.09B$36.12B$34.31B$32.40B$33.18B$28.00B$23.50B$23.69B$17.73B$13.29B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$431.0M$2.91B$5.16B$3.79B$3.16B$3.71B$4.09B$5.23B$5.05B$3.21B
Depreciation and amortisation $1.10B$909.0M$1.00B$905.0M$896.0M$869.0M$807.0M$543.0M$585.0M$497.1M
Stock-based compensation $517.0M$655.0M$894.0M$984.0M$1.11B$1.03B$808.0M$681.0M$499.0M$253.5M
Capital expenditure $1.73B$1.11B$1.58B$1.20B$1.71B$779.0M$923.0M$1.28B$735.0M$603.4M
Investing cash flow -$3.59B-$1.17B-$7.10B-$572.0M-$4.93B-$4.22B-$2.87B-$5.01B-$11.82B-$5.17B
Financing cash flow $2.45B-$1.89B-$2.00B-$926.0M$3.67B$869.0M-$556.0M$2.19B$6.85B$2.08B
Buybacks $792.0M$866.0M$671.0M$279.0M$1.19B$2.00B$712.0M$482.0M$265.0M$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-109289.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B 20B Revenue, FY2016: 10.2B Gross profit, FY2016: 5.1B Net income, FY2016: 1.7B Revenue, FY2017: 13B Gross profit, FY2017: 6.4B Net income, FY2017: 2.8B Revenue, FY2018: 14.9B Gross profit, FY2018: 7.3B Net income, FY2018: 4B Revenue, FY2019: 15.4B Gross profit, FY2019: 6.4B Net income, FY2019: 296M Revenue, FY2020: 16.4B Gross profit, FY2020: 8B Net income, FY2020: 3.4B Revenue, FY2021: 19.5B Gross profit, FY2021: 9.4B Net income, FY2021: 1.6B Revenue, FY2022: 17.9B Gross profit, FY2022: 8.7B Net income, FY2022: 1.1B Revenue, FY2023: 19B Gross profit, FY2023: 9.8B Net income, FY2023: 2.9B Revenue, FY2024: 18.2B Gross profit, FY2024: 9.2B Net income, FY2024: 3.3B Revenue, FY2025: 18.5B Gross profit, FY2025: 8.1B Net income, FY2025: 799M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $10.16B $13.03B $14.88B $15.43B $16.41B $19.54B $17.93B $18.96B $18.24B $18.46B
Gross profit $5.08B $6.42B $7.35B $6.40B $7.96B $9.44B $8.66B $9.80B $9.18B $8.10B
Net income $1.68B $2.81B $4.01B $296.0M $3.44B $1.60B $1.10B $2.86B $3.25B $799.0M

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