Baidu Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	29,948	24,606	24,832	25,231	53,156	36,850
Short-Term Investments	86,942	90,661	102,608	169,056	121,218	143,617
Cash & Short-Term Investments	116,890	115,267	127,440	194,287	174,374	180,467
Cash Growth	-17.55%	-9.55%	-34.41%	11.42%	-3.38%	10.97%
Accounts Receivable	14,948	16,781	14,280	16,620	21,135	14,829
Receivables	14,948	16,781	14,280	16,620	21,135	14,829
Inventory	-	6,200	5,989	1,396	1,227	1,477
Prepaid Expenses	-	-	-	728	582	615
Restricted Cash	584	225	11,697	11,503	11,330	10,821
Other Current Assets	22,867	13,497	9,443	5,721	4,202	5,106
Total Current Assets	155,289	151,970	168,849	230,255	212,850	213,315
Property, Plant & Equipment	35,398	34,891	41,000	38,811	34,338	35,092
Long-Term Investments	159,334	168,780	140,256	72,623	78,926	67,332
Goodwill	36,783	36,783	22,586	22,586	22,477	22,605
Other Intangible Assets	10,507	9,854	7,702	7,848	8,095	8,947
Long-Term Accounts Receivable	119	167	137	-	-	-
Long-Term Deferred Tax Assets	5,266	4,582	2,193	2,100	2,129	2,372
Long-Term Deferred Charges	14,578	14,575	14,695	13,377	13,002	10,951
Other Long-Term Assets	32,292	23,081	26,548	19,159	19,156	19,420
Total Assets	449,566	449,157	427,780	406,759	390,973	380,034
Accounts Payable	41,439	3,470	5,347	1,971	1,960	1,307
Accrued Expenses	-	16,581	14,998	16,171	15,156	17,167
Short-Term Debt	3,979	7,626	10,669	10,257	5,343	4,168
Current Portion of Long-Term Debt	21,545	20,784	8,436	8,833	15,209	10,507
Current Portion of Leases	3,398	3,457	3,303	3,108	2,809	2,862
Current Income Taxes Payable	-	2,627	3,527	2,687	3,640	4,430
Current Unearned Revenue	13,488	13,582	15,308	14,933	13,188	13,803
Other Current Liabilities	-	18,201	19,365	18,491	22,325	20,244
Total Current Liabilities	83,849	86,328	80,953	76,451	79,630	74,488
Long-Term Debt	61,273	61,102	51,943	57,357	63,183	68,401
Long-Term Leases	3,941	4,108	4,973	5,040	4,810	5,569
Long-Term Unearned Revenue	958	921	816	681	490	352
Long-Term Deferred Tax Liabilities	5,211	4,985	3,870	2,725	2,898	3,286
Other Long-Term Liabilities	1,986	1,987	1,613	1,897	2,157	3,986
Total Liabilities	157,218	159,431	144,168	144,151	153,168	156,082
Common Stock	268,886	-	-	-	-	-
Additional Paid-In Capital	-	94,979	91,586	87,099	79,855	73,888
Retained Earnings	-	177,694	180,073	161,240	148,341	145,160
Treasury Stock	-	-4,693	-6,236	-3,818	-5,264	-7,581
Comprehensive Income & Other	-	-1,650	-1,803	-895	546	-8
Total Common Equity	268,886	266,330	263,620	243,626	223,478	211,459
Minority Interest	23,462	23,396	19,992	18,982	14,327	12,493
Shareholders' Equity	292,348	289,726	283,612	262,608	237,805	223,952
Total Liabilities & Equity	449,566	449,157	427,780	406,759	390,973	380,034
Total Debt	94,136	97,077	79,324	84,595	91,354	91,507
Net Cash (Debt)	22,754	18,190	48,116	109,692	83,020	88,960
Net Cash Growth	-42.71%	-62.20%	-56.14%	32.13%	-6.68%	11.16%
Net Cash Per Share	66.33	53.03	137.57	309.32	236.44	252.91
Filing Date Shares Outstanding	340.12	340.25	343.77	350.65	349.57	345.54
Total Common Shares Outstanding	340.12	347.03	345.45	350.65	349.57	345.54
Working Capital	71,440	65,642	87,896	153,804	133,220	138,827
Book Value Per Share	790.55	767.45	763.13	694.79	639.29	611.96
Tangible Book Value	221,596	219,693	233,332	213,192	192,906	179,907
Tangible Book Value Per Share	651.51	633.06	675.45	607.99	551.83	520.65
Buildings	-	5,444	5,309	5,146	5,125	4,915
Machinery	-	66,526	58,378	53,671	46,159	42,422
Construction In Progress	-	563	621	285	291	688
Leasehold Improvements	-	505	549	540	490	496

Source: S&P Global Market Intelligence. Standard template. Financial Sources.