Baidu (BIDU) Financials

$127.97 -3.21 (-2.44%)

As of 12:50 PM Eastern

Annual Income Statements for Baidu

This table shows Baidu's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	5,125	1,668	2,808	4,013	295	3,456	1,605	1,096	2,861	3,255	799
Consolidated Net Income / (Loss)	4,938	1,663	2,806	3,287	-329	2,926	1,191	1,092	3,035	3,312	780
Net Income / (Loss) Continuing Operations	4,938	1,663	2,806	3,287	-329	2,926	1,191	1,092	3,035	3,312	780
Total Pre-Tax Income	5,771	2,080	3,266	3,977	-49	3,551	1,691	1,466	3,549	3,921	960
Total Operating Income	1,777	1,441	2,408	2,260	906	2,206	1,651	2,307	3,078	2,914	-833
Total Gross Profit	5,926	5,057	6,406	7,355	6,398	7,985	9,443	8,661	9,798	9,182	8,100
Total Revenue	10,107	10,116	13,014	14,887	15,422	16,469	19,536	17,931	18,958	18,238	18,458
Operating Revenue	9,749	10,116	13,014	14,887	15,422	16,469	19,536	17,931	18,958	18,238	18,458
Total Cost of Revenue	4,180	5,058	6,608	7,531	9,024	8,484	10,092	9,270	9,159	9,056	10,358
Operating Cost of Revenue	4,180	5,058	6,608	7,531	9,024	8,484	10,092	9,270	9,159	9,056	10,358
Total Operating Expenses	4,149	3,617	3,998	5,095	5,493	5,779	7,793	6,355	6,720	6,268	8,933
Selling, General & Admin Expense	2,600	2,161	2,014	2,799	2,859	2,778	3,880	2,974	3,313	3,236	3,695
Research & Development Expense	1,549	1,456	1,984	2,296	2,634	3,001	3,913	3,380	3,407	3,032	2,922
Impairment Charge	-	-	-	-	-	-	-	-	-	-	2,315
Total Other Income / (Expense), net	3,994	640	858	1,717	-954	1,346	41	-841	471	1,007	1,793
Interest Expense	158	166	248	274	425	477	537	422	457	387	398
Interest & Investment Income	360	189	474	636	690	478	725	629	593	996	1,687
Other Income / (Expense), net	3,792	617	632	1,355	-1,219	1,345	-147	-1,047	335	398	504
Income Tax Expense	834	418	460	690	280	625	500	374	514	609	180
Net Income / (Loss) Attributable to Noncontrolling Interest	-188	-5.16	-1.99	-726	-624	-530	-413	-3.62	174	57	-19
Basic Earnings per Share	$2,004.58	$670.89	$169.98	$98.30	$7.10	$81.92	$35.80	$3.63	$9.83	$11.37	$0.35
Weighted Average Basic Shares Outstanding	62.35M	61.93M	62.19M	5.01B	5.00B	4.89B	4.96B	5.01B	5.09B	5.06B	4.93B
Diluted Earnings per Share	$1,998.13	$669.10	$168.88	$97.53	$7.00	$81.22	$35.09	$3.60	$9.70	$11.29	$0.30
Weighted Average Diluted Shares Outstanding	70.07M	69.51M	69.90M	5.63B	5.58B	5.51B	5.63B	5.62B	5.67B	5.60B	5.49B
Weighted Average Basic & Diluted Shares Outstanding	34.61M	34.73M	34.82M	34.93M	34.58M	2.16B	2.76B	2.80B	2.81B	2.76B	2.72B

No quarterly income statements for Baidu are available.

This table details how cash moves in and out of Baidu's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-593	166	18	2,691	662	323	1,747	2,547	-3,896	-135	-1,681
Net Cash From Operating Activities	3,010	3,223	5,037	5,235	4,086	3,722	3,158	3,794	5,157	2,909	-431
Net Cash From Continuing Operating Activities	3,010	3,223	5,037	5,235	4,086	3,722	3,158	3,794	5,157	2,909	-431
Net Income / (Loss) Continuing Operations	4,938	1,663	2,806	3,287	-329	2,926	1,191	1,092	3,035	3,312	780
Consolidated Net Income / (Loss)	4,938	1,663	2,806	3,287	-329	2,926	1,191	1,092	3,035	3,312	780
Depreciation Expense	439	495	584	543	806	888	923	939	1,041	938	1,108
Amortization Expense	453	760	1,343	386	522	781	2,617	1,973	1,981	1,874	1,945
Non-Cash Adjustments To Reconcile Net Income	-3,814	-634	-503	101	3,610	-769	-1,699	244	-932	-1,457	293
Changes in Operating Assets and Liabilities, net	994	940	807	918	-524	-104	126	-454	32	-1,757	-4,557
Net Cash From Investing Activities	-4,814	-5,149	-11,807	-5,016	-2,868	-4,238	-4,934	-572	-7,098	-1,172	-3,594
Net Cash From Continuing Investing Activities	-4,814	-5,149	-11,802	-5,016	-2,868	-4,238	-4,934	-572	-7,098	-1,172	-3,594
Purchase of Property, Plant & Equipment	-801	-601	-733	-1,277	-923	-782	-1,710	-1,201	-1,576	-1,114	-1,726
Acquisitions	-433	-907	-1,479	-2,253	-1,962	-407	-1,981	-18	-31	-17	-362
Purchase of Investments	-27,755	-34,836	-48,557	-50,459	-49,488	-45,630	-31,462	-26,844	-28,660	-41,883	-45,213
Sale and/or Maturity of Investments	24,762	31,772	42,356	47,835	49,572	42,657	30,208	27,562	23,361	42,167	43,822
Other Investing Activities, net	-53	-586	-3,389	1,138	-67	-77	11	-71	-193	-324	-115
Net Cash From Financing Activities	1,184	2,072	6,837	2,195	-556	871	3,671	-926	-1,995	-1,885	2,451
Net Cash From Continuing Financing Activities	1,184	2,072	6,837	2,195	-556	871	3,671	-926	-1,995	-1,885	2,451
Repayment of Debt	-345	-435	-520	-2,386	-350	-730	-2,333	-1,931	-4,137	-4,278	-3,458
Repurchase of Common Equity	-971	0.00	-264	-482	-712	-2,008	-1,190	-279	-671	-866	-792
Issuance of Debt	1,929	1,417	4,138	5,402	527	2,600	3,703	909	2,262	3,230	6,314
Issuance of Preferred Equity	-	-	-	0.00	0.00	257	774	176	49	84	339
Issuance of Common Equity	537	95	621	2,284	58	717	3,226	178	487	5.62	0.00
Other Financing Activities, net	34	995	2,863	-2,623	-79	35	-509	20	15	-60	48
Effect of Exchange Rate Changes	27	21	-48	277	0.14	-33	-148	251	40	13	-107
Cash Interest Paid	132	159	185	230	351	339	399	390	389	306	287
Cash Income Taxes Paid	421	344	506	802	589	555	510	511	516	505	465

No quarterly cash flow statements for Baidu are available.

This table presents Baidu's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	22,510	26,096	38,626	43,311	43,262	51,172	59,636	56,686	57,291	58,606	64,229
Total Current Assets	11,911	14,304	23,196	22,574	23,771	28,199	33,474	30,860	32,431	23,132	21,731
Cash & Equivalents	1,516	1,563	1,701	4,023	4,802	5,503	5,783	7,707	3,554	3,402	3,519
Restricted Cash	15	46	39	319	143	117	1,698	1,643	1,620	1,602	32
Short-Term Investments	8,826	11,320	16,531	16,247	16,213	19,441	22,478	17,520	23,757	14,057	12,964
Accounts Receivable	893	639	727	990	1,294	1,445	1,781	2,489	1,728	1,384	1,855
Other Current Assets	626	480	526	996	1,319	1,693	1,734	1,502	1,772	2,686	3,361
Plant, Property, & Equipment, net	1,618	1,619	1,914	2,606	2,629	2,693	3,613	3,476	3,938	4,124	3,758
Total Noncurrent Assets	8,981	10,172	13,516	18,131	16,862	20,280	22,548	22,350	20,922	31,349	38,739
Long-Term Investments	5,779	6,551	8,636	11,710	9,966	11,725	9,324	8,017	6,755	5,716	6,423
Goodwill	2,344	2,200	2,425	2,698	2,620	3,422	3,547	3,259	3,181	3,094	5,260
Intangible Assets	508	555	839	1,336	230	311	265	182	124	106	556
Noncurrent Deferred & Refundable Income Taxes	153	158	235	338	315	257	372	309	296	300	655
Other Noncurrent Operating Assets	177	318	847	1,423	3,220	4,036	8,493	10,583	10,566	22,133	25,844
Total Liabilities & Shareholders' Equity	22,510	26,096	38,626	43,311	43,262	51,172	59,636	56,686	57,291	58,606	64,229
Total Liabilities	9,689	12,081	18,621	17,730	18,450	21,666	24,493	22,207	20,303	19,751	22,798
Total Current Liabilities	3,974	6,611	12,591	8,275	8,238	10,518	11,689	11,545	10,768	11,091	12,345
Short-Term Debt	171	2,412	7,095	1,456	1,231	2,337	2,303	2,980	2,689	2,617	4,063
Accounts Payable	2,836	3,167	4,247	5,401	5,015	5,851	6,771	5,512	5,312	5,678	5,561
Current Deferred Revenue	968	1,032	208	1,418	1,664	1,966	2,166	1,912	2,103	2,097	1,942
Other Current Liabilities	-	-	-	0.00	328	364	449	1,142	664	698	779
Total Noncurrent Liabilities	5,715	5,471	6,030	9,455	10,211	11,148	12,804	10,648	9,535	8,660	10,454
Long-Term Debt	5,168	4,943	5,495	7,991	8,355	9,280	10,734	9,161	8,079	7,116	8,737
Noncurrent Deferred Revenue	2.65	4.01	0.00	191	145	120	35	48	96	80	132
Noncurrent Deferred & Payable Income Tax Liabilities	524	515	518	597	470	472	516	420	384	530	713
Other Noncurrent Operating Liabilities	19	9.32	17	42	689	731	1,007	1,019	977	934	872
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	601	787	1,691	104	159	477	1,122	1,217	1,333	1,352	1,883
Total Equity & Noncontrolling Interests	12,221	13,228	18,314	25,477	24,653	29,029	34,021	33,262	35,654	37,503	39,548
Total Preferred & Common Equity	12,219	13,231	17,699	23,710	23,489	28,100	33,183	32,401	34,314	36,116	38,085
Total Common Equity	12,219	13,231	17,699	23,710	23,489	28,100	33,183	32,401	34,314	36,116	38,085
Common Stock	975	1,193	1,855	4,867	5,558	7,262	11,595	11,578	12,268	12,547	13,582
Retained Earnings	11,367	12,293	15,702	18,812	18,129	20,807	22,779	21,507	22,710	24,670	25,410
Treasury Stock	-	-	-	-	-	0.00	-1,190	-763	-538	-854	-671
Accumulated Other Comprehensive Income / (Loss)	-123	-256	143	31	-199	31	-1.26	79	-126	-247	-236
Noncontrolling Interest	1.85	-3.30	614	1,767	1,164	930	839	860	1,340	1,387	1,463

No quarterly balance sheets for Baidu are available.

This table displays calculated financial ratios and metrics derived from Baidu's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2,722,014,080.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2,722,014,080.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.29
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	1,520	1,152	2,069	1,868	634	1,817	1,162	1,719	2,633	2,461	-677
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	3.79%	5.67%	5.21%	-1.29%
Earnings before Interest and Taxes (EBIT)	5,570	2,058	3,039	3,615	-314	3,550	1,503	1,260	3,414	3,312	-329
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,462	3,312	4,966	4,544	1,015	5,219	5,043	4,172	6,436	6,123	2,725
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,603	1,287	-1,730	4,193	171	762	-3,365	-618	2,309	-9,280	-8,158
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,025	1,890	5,689	3,364	3,827	4,882	9,410	11,746	12,070	23,811	31,292
Increase / (Decrease) in Invested Capital	-1,082	-135	3,799	-2,325	463	1,055	4,528	2,337	323	11,741	7,481
Book Value per Share	$348.05	$382.33	$509.67	$681.00	$672.36	$812.53	$12.39	$11.72	$12.27	$12.87	$13.78
Tangible Book Value per Share	$266.82	$302.72	$415.67	$565.13	$590.78	$704.59	$10.96	$10.48	$11.09	$11.73	$11.68
Total Capital	18,161	21,370	32,595	35,028	34,398	41,123	48,179	46,619	47,755	48,588	54,230
Total Debt	5,340	7,354	12,590	9,447	9,586	11,617	13,036	12,140	10,767	9,734	12,800
Total Long-Term Debt	5,169	4,943	5,495	7,991	8,355	9,280	10,734	9,161	8,079	7,116	8,737
Net Debt	-10,796	-12,125	-14,316	-22,852	-21,538	-25,169	-26,246	-22,746	-24,918	-15,044	-10,138
Capital Expenditures (CapEx)	796	593	733	1,277	923	782	1,710	1,201	1,576	1,114	1,726
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,249	-2,822	-570	-4,834	-4,394	-5,043	-5,871	-4,575	-4,579	-4,403	-3,066
Debt-free Net Working Capital (DFNWC)	8,107	10,106	17,700	15,755	16,763	20,018	24,088	22,295	24,352	14,659	13,449
Net Working Capital (NWC)	7,937	7,694	10,605	14,299	15,532	17,681	21,785	19,315	21,663	12,042	9,387
Net Nonoperating Expense (NNE)	-3,417	-511	-737	-1,419	962	-1,109	-29	626	-403	-851	-1,457
Net Nonoperating Obligations (NNO)	-10,796	-12,125	-14,316	-22,217	-20,985	-24,625	-25,733	-22,732	-24,918	-15,044	-10,138
Total Depreciation and Amortization (D&A)	892	1,254	1,927	929	1,329	1,669	3,540	2,912	3,022	2,811	3,053
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$309.46	$96.62	$170.27	$240.18	$17.14	$12.56	$5.61	$3.62	$9.82	$1.56	$0.35
Adjusted Weighted Average Basic Shares Outstanding	62.35M	61.93M	62.19M	62.60M	62.47M	4.89B	4.96B	5.01B	5.09B	5.06B	4.93B
Adjusted Diluted Earnings per Share	$308.45	$96.37	$169.16	$238.33	$16.88	$12.44	$5.50	$3.60	$9.70	$1.55	$0.30
Adjusted Weighted Average Diluted Shares Outstanding	70.07M	69.51M	69.90M	70.34M	69.77M	5.51B	5.63B	5.62B	5.67B	5.60B	5.49B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	34.61M	34.73M	34.82M	34.93M	34.58M	2.68B	2.76B	2.80B	2.81B	2.76B	2.72B
Normalized Net Operating Profit after Tax (NOPAT)	1,520	1,152	2,069	1,868	634	1,817	1,162	1,719	2,633	2,461	1,205
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

No quarterly metrics and ratios for Baidu are available.

Financials Breakdown Chart

Baidu Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Baidu's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Baidu's net income appears to be on a downward trend, with a most recent value of $780.34 million in 2025, falling from $4.94 billion in 2015. The previous period was $3.31 billion in 2024. View Baidu's forecast to see where analysts expect Baidu to go next.

Baidu's total operating income in 2025 was -$832.68 million, based on the following breakdown:

Total Gross Profit: $8.10 billion
Total Operating Expenses: $8.93 billion

Over the last 10 years, Baidu's total revenue changed from $10.11 billion in 2015 to $18.46 billion in 2025, a change of 82.6%.

Baidu's total liabilities were at $22.80 billion at the end of 2025, a 15.4% increase from 2024, and a 135.3% increase since 2015.

In the past 10 years, Baidu's cash and equivalents has ranged from $1.52 billion in 2015 to $7.71 billion in 2022, and is currently $3.52 billion as of their latest financial filing in 2025.

Over the last 10 years, Baidu's book value per share changed from 348.05 in 2015 to 13.78 in 2025, a change of -96.0%.

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Financial statements for NASDAQ:BIDU last updated on 3/19/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Baidu (BIDU) Financials

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Baidu Financials - Frequently Asked Questions

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Baidu (BIDU) Financials

Annual Income Statements for Baidu

Quarterly Income Statements for Baidu

Annual Cash Flow Statements for Baidu

Quarterly Cash Flow Statements for Baidu

Annual Balance Sheets for Baidu

Quarterly Balance Sheets for Baidu

Annual Metrics And Ratios for Baidu

Quarterly Metrics And Ratios for Baidu

Financials Breakdown Chart

Baidu Financials - Frequently Asked Questions

When does Baidu's fiscal year end?

How has Baidu's net income changed over the last 10 years?

What is Baidu's operating income?

How has Baidu's revenue changed over the last 10 years?

How much debt does Baidu have?

How much cash does Baidu have?

How has Baidu's book value per share changed over the last 10 years?

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