Baidu, Inc. BIDU
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Market cap
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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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
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