Financials Baidu, Inc.

Equities

BIDU

US0567521085

Internet Services

Market Closed - Nasdaq 16:00:00 2024-07-19 EDT 5-day change 1st Jan Change
90.37 USD -0.58% Intraday chart for Baidu, Inc. -8.78% -24.12%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 304,905 481,246 328,960 272,598 295,465 230,362 - -
Enterprise Value (EV) 1 225,303 393,834 231,943 182,338 178,011 78,142 55,885 29,507
P/E ratio 157 x 21.7 x 33.7 x 39.7 x 15.3 x 10.2 x 9.63 x 8.92 x
Yield - - - - - - - -
Capitalization / Revenue 2.84 x 4.49 x 2.64 x 2.2 x 2.2 x 1.65 x 1.54 x 1.46 x
EV / Revenue 2.1 x 3.68 x 1.86 x 1.47 x 1.32 x 0.56 x 0.37 x 0.19 x
EV / EBITDA 12.2 x 14.3 x 9.31 x 6.15 x 4.97 x 2.19 x 1.46 x 0.72 x
EV / FCF 10.2 x 20.6 x 25.1 x 10.2 x 7 x 4.14 x 2.15 x 1.19 x
FCF Yield 9.78% 4.85% 3.98% 9.81% 14.3% 24.2% 46.5% 84.4%
Price to Book 1.86 x 2.66 x 1.54 x 1.23 x 1.22 x 0.84 x 0.76 x 0.69 x
Nbr of stocks (in thousands) 346,499 341,076 348,059 345,542 349,573 350,652 - -
Reference price 2 880.0 1,411 945.1 788.9 845.2 657.0 657.0 657.0
Announcement Date 2/27/20 2/17/21 3/1/22 2/22/23 2/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 107,413 107,074 124,493 123,675 134,598 139,577 149,361 157,901
EBITDA 1 18,416 27,503 24,914 29,663 35,823 35,761 38,185 40,799
EBIT 1 6,307 21,732 10,518 15,911 21,856 23,976 25,995 27,998
Operating Margin 5.87% 20.3% 8.45% 12.87% 16.24% 17.18% 17.4% 17.73%
Earnings before Tax (EBT) 1 -340 23,090 10,778 10,112 25,198 27,995 29,346 32,296
Net income 1 2,057 22,472 10,226 7,559 20,315 22,210 23,568 25,243
Net margin 1.92% 20.99% 8.21% 6.11% 15.09% 15.91% 15.78% 15.99%
EPS 2 5.600 64.98 28.07 19.85 55.08 64.48 68.24 73.67
Free Cash Flow 1 22,030 19,116 9,226 17,884 25,425 18,879 25,993 24,894
FCF margin 20.51% 17.85% 7.41% 14.46% 18.89% 13.53% 17.4% 15.77%
FCF Conversion (EBITDA) 119.62% 69.51% 37.03% 60.29% 70.97% 52.79% 68.07% 61.02%
FCF Conversion (Net income) 1,070.98% 85.07% 90.22% 236.59% 125.15% 85% 110.29% 98.62%
Dividend per Share 2 - - - - - - - -
Announcement Date 2/27/20 2/17/21 3/1/22 2/22/23 2/28/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 33,088 28,411 29,647 32,540 33,077 31,144 34,056 34,447 34,951 31,513 34,401 35,636 37,199 32,724 35,626
EBITDA 1 5,757 5,499 7,054 8,879 8,231 8,145 9,116 9,505 9,057 8,244 8,361 9,151 8,752 8,649 10,263
EBIT 1 1,958 2,601 3,400 5,317 4,593 4,980 5,210 6,274 5,392 5,484 5,990 6,690 6,396 4,923 5,899
Operating Margin 5.92% 9.15% 11.47% 16.34% 13.89% 15.99% 15.3% 18.21% 15.43% 17.4% 17.41% 18.77% 17.19% 15.04% 16.56%
Earnings before Tax (EBT) 1 2,365 -360 3,551 547 6,374 7,575 6,579 8,179 2,865 6,730 6,793 7,371 7,192 5,095 4,566
Net income 1 1,715 -885 3,637 -146 4,953 5,825 5,210 6,681 2,599 5,448 5,237 6,121 5,566 3,227 3,748
Net margin 5.18% -3.11% 12.27% -0.45% 14.97% 18.7% 15.3% 19.4% 7.44% 17.29% 15.22% 17.18% 14.96% 9.86% 10.52%
EPS 2 4.510 -2.870 9.970 -0.8700 13.59 15.92 14.17 18.22 6.770 14.91 15.45 17.27 16.42 15.04 16.40
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 3/1/22 5/26/22 8/30/22 11/22/22 2/22/23 5/16/23 8/22/23 11/21/23 2/28/24 5/16/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 79,602 87,412 97,017 90,260 117,454 152,220 174,478 200,855
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 22,030 19,116 9,226 17,884 25,425 18,879 25,993 24,894
ROE (net income / shareholders' equity) 11.1% 12.7% 9.31% 3.48% 8.7% 8.31% 7.9% 7.7%
ROA (Net income/ Total Assets) 6.07% 6.95% 5.28% 1.96% 5.09% 5.79% 5.87% 5.68%
Assets 1 33,877 323,520 193,535 385,506 398,865 383,753 401,517 444,187
Book Value Per Share 2 472.0 530.0 613.0 639.0 694.0 781.0 861.0 949.0
Cash Flow per Share 2 81.60 70.30 57.20 75.00 103.0 90.20 102.0 110.0
Capex 1 6,428 5,084 10,896 8,286 11,190 10,016 10,304 10,812
Capex / Sales 5.98% 4.75% 8.75% 6.7% 8.31% 7.18% 6.9% 6.85%
Announcement Date 2/27/20 2/17/21 3/1/22 2/22/23 2/28/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
36
Last Close Price
657 CNY
Average target price
1,034 CNY
Spread / Average Target
+57.33%
Consensus
1st Jan change Capi.
-24.12% 31.69B
-23.12% 18.88B
-21.23% 18.76B
-.--% 6.85B
-23.43% 214M
+15.38% 113M
+6.38% 80.22M
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