Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
BIDU · Nasdaq · United States · Services-Computer Programming, Data Processing, Etc.
In shortBaidu, Inc. is profitable, burns cash and holds more cash than debt, with revenue shrinking (−3.0% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -4.5% | 2/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 4.3% | 37/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 2.1% | 11/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -1.5% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.76× | 80/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.16× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -2.09× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 3.92 | 72/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -11.7% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | -2.70× | 0/100 |
| Years with positive free cash flow (last 5) | 4 of 5 | 75/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 3 of 5 | 0/100 |
| Revenue growth volatility | 8.2% | 81/100 |
| Operating margin volatility | 8.6% | 31/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 1.4% | 25/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
CNY millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 124,493 | 123,675 | 134,598 | 133,125 | 129,079 |
| Cost of revenue | 64,314 | 63,935 | 65,031 | 66,102 | 72,436 |
| Gross profit | 60,179 | 59,740 | 69,567 | 67,023 | 56,643 |
| Research & development | 24,938 | 23,315 | 24,192 | 22,133 | 20,433 |
| Selling, general & admin | 24,723 | 20,514 | 23,519 | 23,620 | 25,843 |
| Operating income | 10,518 | 15,911 | 21,856 | 21,270 | (5,823) |
| Interest expense | 3,421 | 2,913 | 3,248 | 2,824 | 2,784 |
| Pre-tax income | 10,778 | 10,112 | 25,198 | 28,622 | 6,716 |
| Income tax | 3,187 | 2,578 | 3,649 | 4,447 | 1,259 |
| Net income | 10,226 | 7,559 | 20,315 | 23,760 | 5,589 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 2 reported quarters (10-Q and 10-K filings), in CNY millions. The fourth quarter is derived from the annual report.
The last 2 quarters of Baidu, Inc. are included in the Investor plan. Try free for 7 days →
3.92 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
1/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Mar 17, 2026