Baidu, Inc. (BIDU) Fundamental Analysis
Baidu, Inc. operates in a cyclical, commodity-sensitive industry, so each quarter is best judged against the cycle rather than in isolation. It is solidly profitable, with a latest net margin of 4%. Cash generation is currently a watch item and warrants close attention. The latest filing shows a mixed picture across the four dimensions.
Beat Index assesses Baidu, Inc. across sixteen analysis tabs, spanning revenue and income, margins, cash flow, returns, liquidity and leverage, working capital, intrinsic value, commitments, insider activity, risk, and its latest 20-F reads strongest on balance-sheet strength while flagging revenue growth, profit margins and cash generation for closer review. Every figure is taken as-reported from SEC EDGAR filings, with no vendor adjustments.
At a glance
- PositiveBalance Sheet: Debt/equity 0.2x
- WatchGrowth: Revenue -3% YoY (cycle)
- ConcernCash Generation: Cash burn (negative OCF)
Trend matrix, last 4 quarters
| Dimension | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Growth | Revenue -3% YoY (cycle) | Revenue -1% YoY (cycle) | Revenue up 9% YoY | Revenue -1% YoY (cycle) |
| Profitability | Net margin 4% | Net margin 18% | Net margin 15% | Net margin 6% |
| Cash Generation | Cash burn (negative OCF) | FCF margin 10% | FCF margin 19% | FCF margin 14% |
| Balance Sheet | Debt/equity 0.2x | Debt/equity 0.2x | Debt/equity 0.3x | Debt/equity 0.3x |
Quarterly financials
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | ¥129.08B | ¥133.13B | ¥134.60B | ¥123.67B | ¥124.49B |
| Cash & equivalents | ¥24.61B | ¥24.83B | ¥25.23B | ¥53.16B | ¥36.85B |
| Net income | ¥5.59B | ¥23.76B | ¥20.32B | ¥7.56B | ¥10.23B |
| Operating cash flow | -¥3.01B | ¥21.23B | ¥36.62B | ¥26.17B | ¥20.12B |
| Free cash flow | -¥15.09B | ¥13.10B | ¥25.43B | ¥17.88B | ¥9.23B |
Figures in CNY, as reported to the SEC. Longer history is available in the full analysis.
What's inside the full dashboard
Sixteen analysis tabs, all sourced from SEC filings, no estimates.
- Cash Flow: Free cash flow generation and operating cash flow trends.
- Intrinsic Value: Discounted cash flow (DCF) valuation and enterprise multiples.
- Liquidity & Leverage: Balance-sheet strength: assets, liabilities, debt and liquidity ratios.
- Margins: Gross, operating, and net profit margin analysis.
- Returns: Return on equity, return on assets, and return on invested capital.
- Revenue & Income: Revenue growth, composition, and year-over-year income trends.
- Working Capital: Working-capital efficiency, cash conversion and asset-turnover metrics.
- Risk: Debt levels, liquidity ratios, and financial risk indicators.
- Insider: Insider stock transactions and executive activity.
- Commitments: Operating leases, purchase commitments, and future obligations.
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Live valuation, management commentary, and peer comparison, all sourced directly from SEC filings. Free to access.