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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Baidu, Inc. is a prominent Chinese technology company that offers various internet-based services, primarily focusing on digital marketing and cloud computing, all delivered through its extensive online platform within the People's Republic of China. The company's operations are segmented into two main divisions: Baidu Core and iQIYI. The Baidu Core segment encompasses a wide array of services, including online marketing derived from search queries and user feeds, comprehensive cloud solutions, and innovative products and services developed from its artificial intelligence initiatives.
How they make money
Baidu generates revenue primarily through online marketing services, where advertisers pay for placement based on cost-per-click or other performance metrics. Additionally, the company earns revenue through its AI cloud services, subscription-based content services via iQIYI, and smart device sales, leveraging its search engine and AI technology ecosystem.
Products & services
Baidu provides internet search, AI-powered cloud computing, autonomous driving technology, online video streaming through iQIYI, and various mobile applications including the Baidu App and ERNIE AI assistant.
Brands & revenue mix
Baidu
Core search and AI brand.
Separate brand revenue is not available in this research.Source
iQIYI
Video streaming platform.
Separate brand revenue is not available in this research.Source
ERNIE
AI assistant and large language model brand.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
The company does not have any single customer that accounts for more than 10% of its total net revenues for the fiscal year ended December 31, 2025.
Suppliers, materials & equipment
Data center and server hardware providers — The company relies on various third-party vendors for server hardware, networking equipment, and data center infrastructure to support its cloud and AI operations.Source
Competitors
Tencent — Competes in online advertising, cloud services, and digital content distribution.Source
Alibaba — Competes in cloud computing, online marketing, and digital media.Source
ByteDance — Competes significantly in the online advertising and short-form video content markets.Source
Strengths
Leading AI technology and search foundation in ChinaSource
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly EPS fell 71.7% versus the same quarter last year.
Review net income and weighted-average shares together. Per-share earnings can change because of operating performance, nonrecurring items or the share denominator.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
28
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
33
Poor
Financial Strength
43
Business Quality / Moat
34
Management
8
Growth Quality
27
Risk / Durability
60
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
26
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
36/100
Building Historical Record
Model Score 36/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Recent buyback activity is present
What to watch
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
Company-specific research
Questions worth answering for BIDU
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•What is driving BIDU's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
•How long can BIDU fund negative free cash flow using its current cash position before it may need more debt or new shares?
•Is BIDU's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•What specifically needs to improve for BIDU to reach sustainable profitability?
•What future growth or profitability would be needed to justify BIDU's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for BIDU
Detected from reported data — verify before acting.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on BIDU.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Leading AI technology and search foundation in China.
+Extensive mobile ecosystem and user base.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Internet Content & Information industry.
−Regulatory and legal risks in the Chinese internet sector.
−Dependence on contractual arrangements with VIEs.
−Intense competition in the AI and advertising markets.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Weak28/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Fair
54
Debt Cost2.9%
Debt Reduction YoY-22.4%
Debt / Equity0.36x
Tap for breakdown →
Revenue
Poor
6
Revenue YoY-1.4%
Revenue CAGR-2.1%
Net Margin-2.9%
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Asset
Fair
63
Asset Growth YoY5.0%
Liquidation/Share$128.13
Net Assets/MCap1.80x
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Capital
Poor
15
Earnings Yield-1.9%
Buyback Yield2.3%
Debt Cost2.9%
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Management
Poor
8
ROIC2.3%
ROE-1.4%
ROA-0.8%
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Moat
Poor
34
EPS Growth-34.4%
FCF/Share Growth—
Rev/Share Growth3.1%
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Valuation
Poor
0
Intrinsic Value—
Value Reference—
MOS—
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Buffett
Poor
30
Revenue6
Moat34
Valuation0
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MOS
Poor
0
MOS %—
Value Reference—
Deep Discount Reference—
Tap for breakdown →
Financial
Fair
50
Interest Coverage3.7x
ROIC2.3%
FCF Yield-8.3%
Tap for breakdown →
Master
Poor
37
Financial50
Valuation0
Debt54
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Resilience
Fair
60
Survival Years7.0 yrs
Current Ratio1.76x
FCF Margin-12.7%
Tap for breakdown →
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Score Changes
5 historical score records available
Previous Score
27
Sep 9, 2026
Change
+0.1
points
Current Score
28
Oct 1, 2026
Category Changes
Revenue+0.4
Debt0
Assets0
Capital+1.0
Management0
Moat0
Valuation0
Buffett0
BIDU increased 0.1 points because overall fundamentals improved.
Projected Score
Projected Score
23
Projected Change
-4.8 points
Preliminary comparable-period financial changes suggest decline of approximately 4.8 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailable
Current Price
$78.65
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Value Reference: —
Deep Discount Reference: —
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$18.94B
$19.22B
$19.82B
$20.04B
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Cost of Revenue
$11.20B
$10.78B
$9.84B
$9.68B
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····
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Gross Profit
$7.74B
$8.43B
$9.98B
$10.36B
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····
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Research & Development
$2.94B
$3.04B
$3.30B
$3.60B
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····
····
····
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SG&A Expenses
$3.49B
$3.85B
$3.52B
$3.50B
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Operating Expenses
$6.43B
$6.89B
$6.81B
$7.10B
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EBITDA
$1.62B
$3.54B
$6.86B
$6.45B
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····
····
····
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Operating Income
$1.31B
$1.54B
$3.17B
$3.25B
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····
····
····
····
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Interest Expense
$375.8M
$414.5M
$420.4M
$483.6M
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····
····
····
····
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····
Income Before Tax
-$506.3M
$999.9M
$4.26B
$3.75B
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····
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····
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Income Tax Expense
$108.1M
$187.4M
$662.1M
$543.3M
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Net Income
-$549.7M
$832.1M
$3.54B
$3.02B
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Basic EPS
$-2.05
$1.75
$9.90
$8.31
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Basic Shares
340M
343M
349M
351M
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Diluted Shares
344M
343M
350M
355M
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Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Weakened
Margins contracted
Cash position declined
Debt increased
Potential Score Impact
Pressure indicators included revenue growth, EPS growth, cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 4.5%. EPS declined 71.7%. Cash declined 17.5%. Total debt increased 23.0%. Net income margin declined by 15.0 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.