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Baidu, Inc.

BIDUNASDAQ

117.49

USD
-0.23
(-0.20%)
Market Closed
-22.54P/E
13Forward P/E
-1.12P/E to S&P500
40.181BMarket CAP
- -Div Yield
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Currency:
in millions
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Income Statement
Revenue
5
14
5
107
239
123
469
1,201
2,304
3,580
5,277
7,902
10,223
10,152
13,035
14,861
15,425
16,404
19,570
COGS
3
4
3
31
88
36
169
326
619
1,035
1,895
3,042
4,229
5,077
6,619
7,518
9,025
8,450
10,110
Gross Profit
2
10
2
76
150
87
299
875
1,685
2,545
3,382
4,860
5,994
5,075
6,417
7,342
6,399
7,954
9,460
Gross Profit Ratio
48.97%
71.91%
44.21%
70.70%
63.00%
70.70%
63.87%
72.85%
73.13%
71.09%
64.09%
61.50%
58.64%
49.99%
49.22%
49.41%
41.49%
48.49%
48.34%
Operating Expenses
4
9
3
42
76
48
139
274
481
771
1,533
2,797
4,197
3,629
4,005
5,086
5,494
5,757
7,807
R&D Expenses
1
1
1
10
19
12
42
109
212
370
678
1,125
1,567
1,461
1,987
2,292
2,634
2,989
3,920
Selling, G&A Exp.
3
7
3
32
56
37
97
165
269
401
855
1,673
2,630
2,169
2,018
2,794
2,859
2,767
3,886
General and Admin. Exp.
- -
- -
3
- -
- -
- -
- -
- -
- -
106
192
336
396
382
- -
- -
- -
- -
- -
Selling and Marketing Exp.
- -
- -
- -
- -
- -
- -
- -
- -
- -
296
663
1,337
2,234
1,786
- -
- -
- -
- -
- -
Other Expenses
0
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
COGS and Expenses
6
13
6
74
164
84
308
600
1,100
1,806
3,428
5,840
8,425
8,706
10,623
12,604
14,519
14,207
17,917
Interest Income
- -
- -
- -
5
7
6
7
10
53
139
216
321
364
337
485
647
870
821
873
Interest Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
17
74
101
160
167
248
274
425
475
538
Depreciation and Amortization
1
1
1
9
25
10
41
67
141
243
438
640
903
1,198
1,806
2,352
3,179
3,480
- -
EBITDA
(0)
3
(0)
49
109
56
212
683
1,384
2,191
2,552
3,225
7,090
3,458
5,327
7,321
4,179
8,020
2,646
EBITDA ratio
(9.86)%
19.09%
(9.85)%
45.89%
45.70%
45.89%
45.18%
56.89%
60.08%
61.21%
48.36%
40.81%
69.36%
34.06%
40.87%
49.26%
27.09%
48.89%
13.52%
Operating Income
(1)
1
(1)
34
75
39
161
601
1,204
1,774
1,849
2,063
1,797
1,446
2,412
2,257
906
2,197
1,653
Operating Income ratio
(22.91)%
9.37%
(22.91)%
31.38%
31.37%
31.38%
34.29%
50.02%
52.25%
49.54%
35.04%
26.10%
17.58%
14.24%
18.50%
15.18%
5.87%
13.39%
8.45%
Total Other Income Exp.(Gains)
0
0
0
6
9
7
10
16
37
147
164
269
4,040
642
859
1,714
(955)
1,341
41
Income Before Tax
(1)
2
(1)
40
84
45
171
616
1,241
1,920
2,013
2,332
5,838
2,088
3,271
3,970
(49)
3,537
1,694
Income Before Tax ratio
(21.89)%
10.63%
(21.90)%
36.93%
35.32%
36.93%
36.40%
51.31%
53.85%
53.64%
38.15%
29.51%
57.10%
20.57%
25.10%
26.72%
(0.32)%
21.56%
8.66%
Income Tax Expense (Gain)
- -
0
- -
2
(2)
2
17
81
189
253
302
359
843
419
460
689
280
623
501
Net Income
(1)
1
(1)
39
86
44
154
535
1,055
1,678
1,738
2,124
5,184
1,674
2,813
4,006
295
3,443
1,608
Net Income Ratio
(21.89)%
10.22%
(21.90)%
36.02%
36.06%
36.02%
32.77%
44.54%
45.78%
46.88%
32.93%
26.88%
50.71%
16.49%
21.58%
26.96%
1.92%
20.99%
8.21%
EPS
(0.01)
0.01
(0.01)
0.12
0.25
0.13
0.44
1.54
3.02
4.79
4.95
6.03
14.70
4.60
8.11
11.43
0.82
10.28
4.50
EPS Diluted
(0.01)
0.01
(0.01)
0.11
0.25
0.13
0.44
1.53
3.02
4.79
4.94
6.01
14.65
4.58
8.06
11.34
0.80
9.95
4.41
Weighted Avg. Shares Outs.
102
110
102
333
339
342
346
348
349
349
350
351
349
347
347
349
348
335
345
Weighted Avg. Shares Outs. Dil.
102
281
102
345
347
347
348
349
350
350
350
352
350
348
350
352
349
346
352
Balance Sheet
Cash and Cash Equivalents
8
24
112
146
186
348
617
1,181
656
1,907
1,601
2,232
1,534
1,568
1,704
4,016
4,802
5,482
5,793
Short-Term Investments
- -
- -
- -
11
33
44
56
57
1,597
3,307
4,747
7,059
8,927
11,360
16,558
16,219
16,216
19,365
22,518
Cash & Short-Term Investments
8
24
112
157
219
392
673
1,238
2,253
5,214
6,348
9,291
10,461
12,928
18,262
20,235
21,018
24,847
28,311
Net Receivables
0
1
3
4
14
17
32
65
119
201
501
701
988
959
4,456
1,323
1,647
1,775
1,784
Inventory
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Other Current Assets
0
0
1
2
3
9
4
30
146
150
259
615
599
468
517
977
1,109
1,466
3,438
Total Current Assets
8
26
116
164
236
418
709
1,332
2,518
5,565
7,108
10,607
12,048
14,355
23,235
22,535
23,775
28,088
33,533
PP&E
1
4
12
25
93
116
146
246
436
624
887
1,402
1,637
1,625
1,917
2,601
3,682
4,184
5,516
Goodwill
- -
- -
1
6
7
7
9
10
384
622
2,786
2,806
2,371
2,208
2,429
2,693
2,621
3,408
3,554
Intangible Assets
- -
2
2
6
19
18
18
18
148
255
600
576
514
557
840
1,334
1,133
2,300
3,128
Goodwill and Intangible Assets
- -
2
3
12
26
26
27
27
532
877
3,386
3,382
2,884
2,765
3,270
4,027
3,753
5,708
6,681
Investments
- -
- -
0
- -
2
2
2
44
117
129
105
464
5,846
6,575
8,651
11,690
9,967
11,679
10,585
Tax Assets
- -
- -
0
1
2
4
5
5
8
9
16
42
155
158
235
338
315
256
373
Other Non-Current Assets
- -
0
10
13
4
12
12
22
98
126
225
159
200
711
1,383
2,045
1,776
1,055
3,053
Total Non-Current Assets
1
6
25
50
127
159
193
344
1,191
1,765
4,618
5,449
10,721
11,834
15,456
20,701
19,494
22,883
26,208
Other Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Assets
9
32
141
214
364
577
902
1,676
3,709
7,330
11,727
16,055
22,769
26,189
38,691
43,236
43,269
50,971
59,741
Accounts Payable
- -
- -
- -
- -
- -
- -
- -
- -
72
611
1,216
2,089
2,716
4,123
4,230
5,141
4,696
- -
6,506
Short-Term Debt
- -
- -
- -
- -
- -
- -
- -
- -
30
354
64
373
173
2,382
1,192
1,453
1,559
2,690
2,757
Tax Payable
- -
- -
1
5
8
12
22
45
- -
68
71
101
51
114
349
340
447
579
- -
Deferred Revenue
1
1
10
19
37
62
95
173
266
391
616
1,082
1,368
1,361
1,419
1,563
1,828
2,080
2,170
Other Current Liabilities
1
6
7
20
49
62
110
214
333
(34)
(74)
(278)
(237)
(1,233)
5,771
104
157
5,707
277
Total Current Liabilities
2
7
16
39
86
125
205
387
700
1,322
1,823
3,266
4,020
6,634
12,612
8,261
8,240
10,477
11,710
Long-Term Debt
- -
- -
- -
- -
- -
- -
1
13
367
1,563
2,853
3,795
5,228
4,960
5,504
7,977
9,000
9,962
11,628
Deferred Revenue
- -
- -
0
0
0
- -
- -
1
3
30
62
6
3
4
11
198
147
120
55
Deferred Tax Liabilities
- -
- -
- -
- -
- -
- -
- -
- -
21
46
198
184
530
516
519
596
470
470
517
Other Non-Current Liabilities
11
26
- -
1
0
- -
- -
- -
24
166
73
328
627
800
1,700
772
754
1,027
1,750
Total Non-Current Liabilities
11
26
0
1
0
- -
1
14
414
1,806
3,186
4,314
6,388
6,281
7,734
9,543
10,372
11,579
13,950
Other Liabilities
22
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Capital Lease Obligations
- -
- -
- -
- -
- -
- -
- -
- -
8
12
14
17
8
1
- -
- -
972
1,081
1,325
Total Liabilities
13
32
16
40
87
125
206
401
1,115
3,128
5,009
7,580
10,408
12,915
20,346
17,804
18,612
22,056
25,660
Preferred Stock
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Common Stock
- -
- -
0
0
0
0
0
0
0
0
0
0
0
0
- -
- -
- -
- -
- -
Retained Earnings
(7)
(6)
0
39
128
290
504
1,057
2,162
3,858
5,704
7,678
11,498
12,337
15,728
18,779
18,132
20,726
- -
Other Compreh. Income(Loss)
(1)
0
(1)
(4)
(11)
(16)
(17)
(18)
(13)
(13)
139
37
(124)
(257)
143
31
(199)
30
- -
Other Total Stockhold. Equity
- -
- -
125
139
160
179
209
236
282
336
505
585
986
1,198
- -
- -
- -
- -
- -
Total Stockholders Equity
(4)
(0)
125
174
277
453
696
1,275
2,430
4,182
6,348
8,301
12,359
13,278
17,729
23,669
23,493
27,989
33,241
Total Liab.&Stockhold. Equity
9
32
141
214
364
577
902
1,676
3,545
7,310
11,357
15,881
22,768
26,193
38,075
41,473
42,105
50,045
58,901
Minority Interest
- -
(0)
- -
- -
- -
- -
- -
- -
164
20
370
175
2
(3)
615
1,764
1,164
926
840
Total Liabilities & Equity
9
32
141
214
364
577
902
1,676
3,709
7,330
11,727
16,055
22,769
26,189
38,691
43,236
43,269
50,971
59,741
Cash Flow Statement
Net Income
(1)
1
(1)
39
86
44
154
535
1,055
1,678
1,738
2,124
5,184
1,674
2,813
4,006
295
3,443
1,608
Depreciation and Amortization
1
1
1
9
25
10
41
67
141
243
438
640
903
1,198
1,806
2,352
3,179
3,480
- -
Deferred Income Tax
- -
- -
- -
- -
(1)
(0)
(2)
(11)
(10)
(9)
55
(112)
348
(2)
(116)
(111)
(100)
18
- -
Stock Based Compensation
- -
- -
1
6
5
7
12
14
24
34
85
155
214
253
499
679
808
1,031
- -
Change in Working Capital
1
2
1
14
14
4
49
113
94
125
160
523
653
811
1,011
477
(960)
(2,789)
(2,938)
Accounts Receivable
- -
- -
(0)
(0)
(6)
(0)
(5)
(19)
(45)
(54)
(128)
(236)
(134)
(34)
(111)
(234)
(255)
(254)
- -
Inventory
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Accounts Payable
- -
- -
- -
- -
- -
- -
- -
- -
- -
125
331
810
1,106
534
784
595
(237)
32
- -
Other Working Capital
- -
- -
1
9
10
(2)
37
18
(49)
129
171
210
22
95
164
123
212
135
93
Other Non-Cash Items
1
2
- -
(0)
(1)
(0)
1
(5)
(4)
(146)
(197)
(442)
(4,310)
(732)
(958)
(2,178)
864
(1,474)
4,494
Cash Provided by Operating Activities
2
7
2
67
128
65
256
713
1,300
1,925
2,279
2,890
2,991
3,203
5,054
5,226
4,087
3,707
3,163
CAPEX
(1)
(3)
(1)
(19)
(80)
(24)
(70)
(148)
(372)
(412)
(608)
(1,030)
(1,197)
(1,512)
(2,144)
(3,249)
(2,746)
(817)
- -
Acquisitions Net
- -
(1)
- -
(6)
(2)
(6)
- -
- -
(309)
(132)
(2,224)
(53)
(597)
40
137
524
(208)
(442)
- -
Purchases of Investments
- -
- -
- -
(11)
(16)
- -
(112)
(440)
(1,821)
(5,329)
(13,995)
(21,776)
(28,075)
(34,960)
(48,637)
(49,118)
(49,496)
(45,450)
- -
Sales/Maturities of Investments
- -
- -
- -
- -
- -
- -
85
404
238
3,664
12,970
19,236
25,046
31,885
42,426
45,969
49,577
42,349
- -
Other Investing Activities
(0)
(0)
(0)
(5)
(2)
(6)
(3)
(2)
(75)
(35)
(147)
(249)
(382)
(1,525)
(5,009)
(1,095)
(1,818)
101
(4,943)
Cash Used for Investing Activities
(1)
(5)
(1)
(38)
(98)
(31)
(97)
(185)
(2,264)
(2,207)
(3,853)
(3,620)
(4,816)
(5,168)
(11,825)
(5,007)
(2,868)
(4,221)
(4,943)
Debt Repayment
- -
- -
- -
- -
- -
- -
- -
- -
- -
(47)
(368)
(68)
(357)
(437)
(1,821)
(3,113)
(1,471)
(1,481)
- -
Common Stock Issued
0
15
- -
- -
- -
- -
- -
- -
- -
16
231
298
543
95
622
2,280
58
714
- -
Common Stock Repurchased
- -
- -
- -
- -
- -
- -
(10)
- -
- -
- -
- -
- -
(982)
- -
(265)
(481)
(712)
(2,000)
- -
Dividends Paid
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
(54)
- -
- -
- -
- -
- -
- -
- -
Other Financing Activities
- -
- -
0
4
6
5
5
19
385
1,558
1,383
1,212
1,993
2,421
8,313
3,506
1,570
3,634
3,678
Cash Used/Provided by Financing Activities
0
15
0
4
6
5
(5)
19
385
1,528
1,246
1,387
1,198
2,079
6,848
2,191
(556)
868
3,678
Effect of Forex Changes on Cash
- -
- -
- -
(4)
(7)
(4)
(6)
(1)
(1)
(2)
(33)
13
28
21
(49)
276
0
(32)
(148)
Net Change In Cash
1
17
1
30
29
35
148
546
(581)
1,244
(362)
670
(599)
135
29
2,687
662
322
1,750
Cash at the End of Period
8
24
8
146
185
167
346
1,181
656
1,907
1,601
2,232
1,534
1,568
1,704
4,334
4,945
5,598
7,494
Cash at the Beginning of Period
7
8
7
115
156
132
198
634
1,237
662
1,963
1,561
2,133
1,433
1,675
1,647
4,283
5,276
5,744
Free Cash Flow
1
4
1
48
48
40
186
565
927
1,513
1,670
1,859
1,794
1,691
2,909
1,977
1,341
2,891
3,163
Forex Rate
0.12
0.12
0.12
0.13
0.14
0.15
0.15
0.15
0.16
0.16
0.17
0.16
0.15
0.14
0.15
0.15
0.14
0.15
0.16