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BIDU

Baidu, Inc.

BIDU

Baidu, Inc. • NASDAQ
$116.88 ▲ 0.46% (+0.54)
Market Cap $39.64 B
52w High $149.51
52w Low $74.71
Dividend Yield 0%
P/E 10.66
Volume 1.16M
Outstanding Shares 339.13M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $31.174B ▼ $27.95B ▲ $-11.232B ▼ -36.03% ▼ $-33.12 ▼ $3.382B ▼
Q2-2025 $32.713B ▲ $11.079B ▲ $7.322B ▼ 22.383% ▼ $21.52 ▼ $10.975B ▼
Q1-2025 $32.452B ▼ $10.457B ▼ $7.717B ▲ 23.78% ▲ $22.48 ▲ $11.746B ▲
Q4-2024 $34.124B ▲ $12.193B ▲ $5.192B ▼ 15.215% ▼ $13.28 ▼ $9.172B ▼
Q3-2024 $33.557B $11.233B $7.632B 22.743% $21.84 $11.034B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $124.815B ▲ $444.072B ▼ $156.473B ▲ $264.528B ▼
Q2-2025 $123.866B ▼ $450.569B ▼ $152.657B ▼ $275.057B ▲
Q1-2025 $141.769B ▲ $453.982B ▲ $163.908B ▲ $269.747B ▲
Q4-2024 $127.44B ▼ $427.78B ▲ $144.168B ▲ $263.62B ▲
Q3-2024 $132.811B $417.316B $138.125B $259.649B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-11.232B ▼ $1.256B ▲ $2.996B ▲ $4.683B ▲ $8.733B ▲ $-2.145B ▲
Q2-2025 $7.322B ▼ $-877M ▲ $-8.541B ▼ $-9.153B ▼ $-18.809B ▼ $-4.677B ▲
Q1-2025 $7.717B ▲ $-6.001B ▼ $-1.205B ▲ $20.499B ▲ $13.287B ▲ $-8.901B ▼
Q4-2024 $5.192B ▲ $2.356B ▼ $-5.637B ▲ $-1.67B ▲ $-4.308B ▲ $23M ▼
Q3-2024 $0 $4.279B $-13.963B $-5.399B $-15.888B $2.634B

Revenue by Products

Product Q4-2018Q2-2020Q4-2020
Product and Service Other
Product and Service Other
 $6.00Bn ▲$16.65Bn ▲$17.59Bn ▲
Online Marketing Service
Online Marketing Service
 $21.20Bn ▲$31.93Bn ▲$0 ▼
Other Revenue IQIYI Content Distribution
Other Revenue IQIYI Content Distribution
 $520.00M ▲$1.46Bn ▲$0 ▼
Other Revenue IQIYI Membership Service
Other Revenue IQIYI Membership Service
 $3.18Bn ▲$8.67Bn ▲$0 ▼
Other Revenue Others
Other Revenue Others
 $0 ▲$6.51Bn ▲$0 ▼
Other Interest Income Earned from Provision of Financial Services
Other Interest Income Earned from Provision of Financial Services
 $0 ▲$0 ▲$0 ▲
Other Revenue Other
Other Revenue Other
 $2.29Bn ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past five years, Baidu’s revenue has grown modestly, but the real story is in profitability. Gross profit has trended upward, and operating income has improved meaningfully after a softer period in 2021. Net income has been volatile, swinging from very strong results to a weaker year in 2022, then recovering solidly in 2023 and 2024. Overall, the business looks more efficient and profitable than it was a few years ago, but earnings can still fluctuate, reflecting both investment cycles and exposure to China’s broader economic environment.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and strengthening. Total assets and shareholder equity have been climbing steadily, suggesting that Baidu has been building its asset base and net worth over time. Debt remains meaningful but has eased slightly from earlier peaks, while equity has grown faster, which points to a healthier capital structure. Cash levels are still substantial, even though they have moved down from the unusually high levels seen a couple of years ago. Overall, Baidu appears to have a robust financial cushion to support ongoing investments and weather industry cycles.

Cash Flow

Cash Flow Baidu consistently generates positive cash from its operations, although the annual level has been a bit up and down. Free cash flow has remained positive every year, which is important because it shows the company can fund its own growth, research, and capital projects without relying entirely on external financing. Capital spending has been steady and fairly sizable, reflecting ongoing investment in data centers, infrastructure, and AI-related capabilities. The slight decline in operating and free cash flow in the most recent year, compared with an exceptionally strong prior year, is worth watching but does not yet suggest a structural problem.

Competitive Edge

Competitive Edge Baidu holds a powerful position in China’s internet and AI landscape. It remains the dominant search engine in the country, which gives it a strong brand, a huge user base, and a rich stream of data that feeds its AI models. On top of search, Baidu has built an ecosystem of services and platforms that deepen user engagement and attract advertisers and enterprise customers. Its leadership in AI public cloud in China, large portfolio of AI patents, and early lead in autonomous driving reinforce its status as a technology heavyweight. At the same time, it faces intense competition from other Chinese tech giants and fast-moving global AI players, and it operates within a complex regulatory environment, all of which can affect its future growth path.

Innovation and R&D

Innovation and R&D Innovation is the core of Baidu’s strategy. The company has developed a full AI stack: foundational models like ERNIE, its own deep learning platform (PaddlePaddle), in-house AI chips (Kunlun), and real-world applications such as autonomous driving and AI cloud services. ERNIE and its newer variants put Baidu at the center of China’s generative AI efforts, while PaddlePaddle helps lock in a large developer community. The Kunlun chip program aims to reduce reliance on foreign hardware and optimize AI performance and costs over time. Apollo, its autonomous driving initiative, and the Apollo Go robotaxi service give Baidu a leading position in self-driving mobility. These are ambitious, multi-year bets with substantial R&D and capital needs; their payoff will depend on successful commercialization, regulatory support, and Baidu’s ability to stay at the technological frontier.

Summary

Baidu has evolved from a search-centric business into a broad AI platform company with multiple engines of potential growth. Financially, it shows modest top-line growth but clear improvement in profitability, a strengthening balance sheet, and consistently positive free cash flow. Strategically, it benefits from a dominant search franchise, deep data resources, and leading positions in AI cloud and autonomous driving, all underpinned by heavy, long-term R&D investment. The main opportunities lie in monetizing its AI models and platforms, scaling robotaxi and other AI-native services, and realizing benefits from in-house chips. Key uncertainties include competitive pressure, the timing and profitability of new AI businesses, and the broader economic and regulatory environment in China. Overall, Baidu appears financially resilient and highly innovation-driven, with outcomes increasingly tied to the success of its AI and autonomous driving initiatives.

NEWS

November 28, 2025 · 12:00 PM UTC

Securities Fraud Investigation Into Baidu, Inc. (BIDU) Announced – Shareholders Who Lost Money Urged to Contact Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm

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November 26, 2025 · 7:10 PM UTC

Baidu, Inc. (BIDU) Shareholders Who Lost Money – Contact Law Offices of Howard G. Smith About Securities Fraud Investigation

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November 26, 2025 · 5:34 PM UTC

Securities Fraud Investigation Into Baidu, Inc. (BIDU) Announced – Shareholders Who Lost Money Urged to Contact The Law Offices of Frank R. Cruz

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November 21, 2025 · 8:30 AM UTC

KraneShares Expands Single-Stock Levered ETF Suite With 2X Investment Exposure to Baidu (KBDU)

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November 18, 2025 · 4:00 AM UTC

Baidu Announces Third Quarter 2025 Results

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