Baidu, Inc.
BAIDF- Exchange
- OTC
- Industry
- Services-Computer Programming, Data Processing, Etc.
- SEC CIK
- 0001329099
No open-market purchases or sales by Baidu, Inc. insiders were filed in the last 90 days; no institution reported holding it in 13F filings for Q2 2026; no superinvestor holds it.
Other share classesBIDU
- Currency
- CNY
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 8, 2026, 12:49 PM ET
Amounts are in CNY, the currency Baidu, Inc. reports in. Lines marked ≈ US$ convert key figures to US dollars.
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net income for FY2025: CNY 5.59B (4.3% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F |
| Reported | – | – | – | – | – |
| Revenue | CNY 129.1B≈ US$18.0B | CNY 133.1B≈ US$18.5B | CNY 134.6B≈ US$19.0B | CNY 123.7B≈ US$18.4B | CNY 124.5B≈ US$19.3B |
| Cost of revenue | CNY 72.4B | CNY 66.1B | CNY 65.0B | CNY 63.9B | CNY 64.3B |
| Research and development | CNY 20.4B | CNY 22.1B | CNY 24.2B | CNY 23.3B | CNY 24.9B |
| Selling, general and administrative | CNY 25.8B | CNY 23.6B | CNY 23.5B | CNY 20.5B | CNY 24.7B |
| Operating income | CNY -5.82B | CNY 21.3B | CNY 21.9B | CNY 15.9B | CNY 10.5B |
| Interest expense | CNY 2.78B | CNY 2.82B | CNY 3.25B | CNY 2.91B | CNY 3.42B |
| Income tax | CNY 1.26B | CNY 4.45B | CNY 3.65B | CNY 2.58B | CNY 3.19B |
| Net income | CNY 5.59B≈ US$777.7M | CNY 23.8B≈ US$3.30B | CNY 20.3B≈ US$2.87B | CNY 7.56B≈ US$1.13B | CNY 10.2B≈ US$1.59B |
| Margins and growth | |||||
| Operating margin | -4.5% | 16.0% | 16.2% | 12.9% | 8.4% |
| Net margin | 4.3% | 17.8% | 15.1% | 6.1% | 8.2% |
| Revenue growth, year over year | −3.0% | −1.1% | +8.8% | −0.7% | +16.3% |
| Net income growth, year over year | −76.5% | +17.0% | +168.8% | −26.1% | −54.5% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025! | FY2024! | FY2023! | FY2022! | FY2021! |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F |
| Reported | – | – | – | – | – |
| Cash and equivalents | CNY 24.6B | CNY 24.8B | CNY 25.2B | CNY 53.2B | CNY 36.9B |
| Short-term investments | CNY 90.7B | CNY 102.6B | CNY 168.7B | CNY 120.8B | CNY 143.2B |
| Accounts receivable | CNY 13.0B | CNY 10.1B | CNY 10.8B | CNY 11.7B | CNY 9.98B |
| Total current assets | CNY 152.0B | CNY 168.8B | CNY 230.3B | CNY 212.8B | CNY 213.3B |
| Property, plant and equipment | CNY 26.3B | CNY 30.1B | CNY 28.0B | CNY 24.0B | CNY 23.0B |
| Goodwill | CNY 36.8B | CNY 22.6B | CNY 22.6B | CNY 22.5B | CNY 22.6B |
| Intangible assets | CNY 3.89B | CNY 772.0M | CNY 881.0M | CNY 1.25B | CNY 1.69B |
| Total assets | CNY 449.2B≈ US$64.2B | CNY 427.8B≈ US$58.6B | CNY 406.8B≈ US$57.3B | CNY 391.0B≈ US$56.7B | CNY 380.0B≈ US$59.6B |
| Short-term debt | CNY 7.63B | CNY 10.7B | CNY 10.3B | CNY 5.34B | CNY 4.17B |
| Total current liabilities | CNY 86.3B | CNY 81.0B | CNY 76.5B | CNY 79.6B | CNY 74.5B |
| Long-term debt | CNY 41.3B | CNY 36.0B | CNY 41.0B | CNY 46.8B | CNY 53.6B |
| Total liabilities | CNY 159.4B | CNY 144.2B | CNY 144.2B | CNY 153.2B | CNY 156.1B |
| Shareholders' equity | CNY 276.6B | CNY 273.7B | CNY 253.1B | CNY 229.4B | CNY 216.8B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F |
| Reported | – | – | – | – | – |
| Operating cash flow | CNY -3.01B≈ US-$419.3M | CNY 21.2B≈ US$2.95B | CNY 36.6B≈ US$5.17B | CNY 26.2B≈ US$3.90B | CNY 20.1B≈ US$3.12B |
| Capital expenditures | CNY 12.1B | CNY 8.13B | CNY 11.2B | CNY 8.29B | CNY 10.9B |
| Free cash flow | CNY -15.1B≈ US-$2.10B | CNY 13.1B≈ US$1.82B | CNY 25.4B≈ US$3.59B | CNY 17.9B≈ US$2.66B | CNY 9.23B≈ US$1.43B |
| Depreciation and amortization | CNY 7.40B | CNY 6.60B | CNY 7.10B | CNY 6.20B | CNY 5.70B |
| Stock-based compensation | CNY 3.60B | CNY 4.78B | CNY 6.34B | CNY 6.79B | CNY 7.06B |
| Share buybacks | CNY 5.54B | CNY 6.32B | CNY 4.76B | CNY 1.93B | CNY 7.58B |
| Investing cash flow | CNY -25.1B | CNY -8.55B | CNY -50.4B | CNY -3.94B | CNY -31.4B |
| Financing cash flow | CNY 17.1B | CNY -13.8B | CNY -14.2B | CNY -6.39B | CNY 23.4B |
| Net change in cash | CNY -11.8B | CNY -985.0M | CNY -27.7B | CNY 17.6B | CNY 11.1B |
| Ratio | |||||
| Stock-based compensation, % of revenue | 2.8% | 3.6% | 4.7% | 5.5% | 5.7% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
Baidu, Inc. reports no single share count on its 10-K and 10-Q covers. Companies with several share classes report one count per class, which this data doesn't include.
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
- A column marked ! failed an accounting identity (gross profit = revenue − cost of revenue, or assets = liabilities + equity, within 1%). Its numbers are shown as filed.
- ≈ US$ figures convert CNY at FRED H.10 exchange rates (Federal Reserve): the average rate over the period for income and cash flow, and the rate on the period-end date, or the last business day before it, for the balance sheet.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.