Baidu market cap is $33.1 b, and annual revenue was ¥102.28 b in FY 2018

Baidu Revenue growth (FY, 2017 - FY, 2018), %21%

Baidu Gross profit (FY, 2018)50.5 B

Baidu Gross profit margin (FY, 2018), %49.4%

Baidu Net income (FY, 2018)22.6 B

Baidu EBIT (FY, 2018)15.5 B

Baidu Cash, 31-Dec-201827.6 B

Baidu EV70.4 B

Baidu revenue was ¥102.28 b in FY, 2018 which is a 20.6% year over year increase from the previous period.

Baidu revenue breakdown by business segment: 75.8% from Baidu Core and 24.2% from iQIYI

CNY | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Revenue | 70.5b | 84.8b | 102.3b |

| 6% | 20% | 21% |

## Cost of goods sold | 35.3b | 43.1b | 51.7b |

## Gross profit | 35.3b | 41.7b | 50.5b |

| 50% | 49% | 49% |

## R&D expense | 10.2b | 12.9b | 15.8b |

## General and administrative expense | 15.1b | 13.1b | 19.2b |

## Operating expense total | 25.2b | 26.1b | 35.0b |

## EBIT | 10.0b | 15.7b | 15.5b |

| 14% | 19% | 15% |

## Interest expense | 1.2b | 1.6b | 1.9b |

## Interest income | 2.3b | 3.2b | 4.5b |

## Pre tax profit | 14.5b | 21.3b | 27.3b |

## Income tax expense | 2.9b | 3.0b | 4.7b |

## Net Income | 11.6b | 18.3b | 22.6b |

CNY | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Cash | 10.9b | 11.1b | 27.6b |

## Accounts Receivable | 4.1b | 4.6b | 6.0b |

## Current Assets | 99.8b | 151.2b | 155.1b |

## PP&E | 11.3b | 12.5b | 17.9b |

## Goodwill | 15.3b | 15.8b | 18.5b |

## Total Assets | 182.0b | 251.7b | 297.6b |

## Short-term debt | 9.8b | 7.8b | 10.0b |

## Current Liabilities | 46.1b | 82.1b | 56.9b |

## Long-term debt | 34.5b | 35.8b | 54.9b |

## Non-Current Liabilities | 38.2b | 39.3b | 65.0b |

## Total Debt | 44.3b | 43.6b | 64.9b |

## Total Liabilities | 84.3b | 121.4b | 121.8b |

## Additional Paid-in Capital | 8.3b | 12.1b | 33.4b |

## Retained Earnings | 85.7b | 102.3b | 129.2b |

## Total Equity | 97.7b | 130.4b | 175.8b |

## Debt to Equity Ratio | 0.5 x | 0.3 x | 0.4 x |

## Debt to Assets Ratio | 0.2 x | 0.2 x | 0.2 x |

## Financial Leverage | 1.9 x | 1.9 x | 1.7 x |

CNY | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|

## Net Income | 11.6b | 18.3b | 22.6b |

## Depreciation and Amortization | 8.3b | 11.7b | 16.2b |

## Accounts Receivable | (238.2m) | (721.0m) | (1.6b) |

## Accounts Payable | 3.7b | 5.1b | 4.1b |

## Cash From Operating Activities | 22.3b | 32.9b | 36.0b |

## Purchases of PP&E | (4.2b) | (4.8b) | (8.8b) |

## Cash From Investing Activities | (35.9b) | (76.9b) | (34.5b) |

## Short-term Borrowings | (1.9b) | (826.0m) | (1.1b) |

## Long-term Borrowings | (1.1b) | (11.0b) | (20.4b) |

## Cash From Financing Activities | 14.4b | 44.6b | 15.1b |

## Net Change in Cash | 938.5m | 186.0m | 18.5b |

## Interest Paid | 1.1b | 758.0m | 5.5b |

## Income Taxes Paid | 2.4b | 3.3b | 1.6b |

CNY | Y, 2018 |
---|---|

## EV/EBIT | 4.5 x |

## EV/CFO | 2 x |

## Revenue/Employee | 2.2m |

## Debt/Equity | 0.4 x |

## Debt/Assets | 0.2 x |

## Financial Leverage | 1.7 x |

Q1, 2014 | Q2, 2014 | Q3, 2014 | Q4, 2014 | FY, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q4, 2015 | FY, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q4, 2016 | FY, 2016 | Q1, 2017 | Q2, 2017 | H1, 2017 | Q3, 2017 | H2, 2017 | Q4, 2017 | FY, 2017 | Q1, 2018 | Jun, 2018 | Q2, 2018 | Sep, 2018 | Q3, 2018 | Dec, 2018 | Q4, 2018 | FY, 2018 | Mar, 2019 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Active Online Marketing Customers | 446 k | 488 k | 516 k | 523 k | 813 k | 524 k | 590 k | 623 k | 555 k | 1.05 m | 587 k | 594 k | 524 k | 452 k | 982 k | 451 k | 470 k | 486 k | 460 k | 775 k | 475 k | 511 k | 522 k | 529 k | 856 k | ||||||

## Revenue per Online Marketing Customer | $3.36 k | $3.90 k | $4.22 k | $4.26 k | $9.57 k | $3.84 k | $4.42 k | $4.45 k | $4.79 k | $9.34 k | $3.94 k | $4.27 k | $4.69 k | $5.10 k | $9.41 k | $4.68 k | $5.53 k | $6.15 k | $6.80 k | $14.37 k | $5.80 k | $6.20 k | $6.30 k | $5.80 k | $13.90 k | ||||||

## Daily Active Users, Baidu App | 148 m | 151 m | 161 m | 174 m | |||||||||||||||||||||||||||

## Daily Active Users, Haokan | 19 m | 22 m | |||||||||||||||||||||||||||||

## Publisher Accounts, Baijiahao | 1.50 m | 1.90 m | 2.10 m | ||||||||||||||||||||||||||||

## Monthly Active Users, Baidu Smart Mini Program | 100 m | 147 m | 181 m | ||||||||||||||||||||||||||||

## Devices, DuerOS | 90 m | 141 m | 200 m | 275 m | |||||||||||||||||||||||||||

## Voice Queries Monthly, DuerOS | 400 m | 800 m | 1.60 b | 2.37 b | |||||||||||||||||||||||||||

## DuerOS Skills | 800 | 1 k | 1.10 k | ||||||||||||||||||||||||||||

## Subscribers, iQIYI | 80.70 m | 87.40 m | 96.80 m | ||||||||||||||||||||||||||||

## Mobile Search MAU | 629 m | 643 m | 657 m | 657 m | 663 m | 667 m | 660 m | 665 m | 665 m | ||||||||||||||||||||||

## Mobile Maps MAU | 304 m | 326 m | 302 m | 302 m | 321 m | 343 m | 348 m | 341 m | 341 m | ||||||||||||||||||||||

## Wallets | 45 m | 53 m | 53 m | 65 m | 80 m | 90 m | 100 m | 100 m | |||||||||||||||||||||||

## Miles per Disengagement | 16.90 | 118.90 |