Baidu, Inc. (BIDU)
NASDAQ: BIDU · Real-Time Price · USD
86.24
-0.73 (-0.84%)
Sep 29, 2026, 1:57 PM EDT - Market open
Baidu Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Net Income | -3,686 | 5,589 | 23,760 | 20,315 | 7,559 | 10,226 |
Depreciation & Amortization | 14,286 | 14,286 | 14,628 | 14,997 | 14,725 | 16,438 |
Other Amortization | 6,805 | 6,805 | 5,844 | 6,300 | 5,291 | 5,960 |
Loss (Gain) From Sale of Assets | -11 | -11 | -22 | -193 | -926 | -126 |
Asset Writedown & Restructuring Costs | 16,450 | 16,450 | 49 | 160 | 68 | 161 |
Loss (Gain) From Sale of Investments | 488 | 488 | 630 | 910 | 3,058 | 4,445 |
Loss (Gain) on Equity Investments | -3,196 | -3,196 | 691 | 3,799 | 1,910 | 932 |
Stock-Based Compensation | 3,605 | 3,605 | 4,784 | 6,345 | 6,788 | 7,056 |
Provision & Write-off of Bad Debts | 1,984 | 1,984 | 1,074 | 693 | 701 | 989 |
Other Operating Activities | 15,294 | -6,965 | -2,692 | -3,644 | 3,754 | -7,268 |
Change in Accounts Receivable | -4,509 | -4,509 | 327 | 216 | -2,369 | -2,144 |
Change in Accounts Payable | -1,844 | -1,844 | 2,298 | -858 | -1,450 | 7,141 |
Change in Unearned Revenue | -1,874 | -1,874 | 513 | 1,918 | -444 | 593 |
Change in Other Net Operating Assets | -33,821 | -33,821 | -30,650 | -14,343 | -12,495 | -24,281 |
Operating Cash Flow | 9,971 | -3,013 | 21,234 | 36,615 | 26,170 | 20,122 |
Operating Cash Flow Growth | - | - | -42.01% | 39.91% | 30.06% | -16.85% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Capital Expenditures | -22,679 | -12,073 | -8,134 | -11,190 | -8,286 | -10,896 |
Cash Acquisitions | -1,188 | -1,188 | - | -115 | -14 | -12,282 |
Divestitures | - | - | - | - | 270 | - |
Sale (Purchase) of Intangibles | -1,344 | -1,344 | -125 | -105 | -107 | -344 |
Investment in Securities | -10,468 | -9,725 | 2,070 | -41,564 | 4,954 | -7,993 |
Other Investing Activities | -419 | 7 | -51 | 4,049 | -761 | 71 |
Investing Cash Flow | -36,911 | -25,136 | -8,555 | -50,397 | -3,944 | -31,444 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Short-Term Debt Issued | - | 11,996 | 22,454 | 15,928 | 6,273 | 4,487 |
Long-Term Debt Issued | - | 34,648 | 1,120 | 4,545 | 3,449 | 19,746 |
Total Debt Issued | 57,447 | 46,644 | 23,574 | 20,473 | 9,722 | 24,233 |
Short-Term Debt Repaid | - | -15,035 | -22,039 | -11,026 | -5,084 | -3,365 |
Long-Term Debt Repaid | - | -11,316 | -9,072 | -22,540 | -11,451 | -12,028 |
Total Debt Repaid | -33,647 | -26,351 | -31,111 | -33,566 | -16,535 | -15,393 |
Net Debt Issued (Repaid) | 23,800 | 20,293 | -7,537 | -13,093 | -6,813 | 8,840 |
Issuance of Common Stock | 93 | 93 | 47 | 103 | 200 | 20,208 |
Repurchase of Common Stock | -1,693 | -5,536 | -6,324 | -4,764 | -1,925 | -7,581 |
Other Financing Activities | -634 | 2,292 | 55 | 3,592 | 2,148 | 1,929 |
Financing Cash Flow | 21,566 | 17,142 | -13,759 | -14,162 | -6,390 | 23,396 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Foreign Exchange Rate Adjustments | -999 | -751 | 95 | 282 | 1,729 | -943 |
Net Cash Flow | -6,373 | -11,758 | -985 | -27,662 | 17,565 | 11,131 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Free Cash Flow | -12,708 | -15,086 | 13,100 | 25,425 | 17,884 | 9,226 |
Free Cash Flow Growth | - | - | -48.48% | 42.17% | 93.84% | -51.74% |
Free Cash Flow Margin | -9.98% | -11.69% | 9.84% | 18.89% | 14.46% | 7.41% |
Free Cash Flow Per Share | -37.40 | -43.98 | 37.45 | 71.69 | 50.93 | 26.23 |
Levered Free Cash Flow | -2,095 | 16,640 | 27,377 | 28,469 | 20,267 | 16,750 |
Unlevered Free Cash Flow | -516.63 | 18,380 | 29,142 | 30,499 | 22,088 | 18,888 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 Interest Paid | 2,007 | 2,007 | 2,237 | 2,764 | 2,690 | 2,542 |
Cash Income Tax Paid | 3,254 | 3,254 | 3,684 | 3,666 | 3,525 | 3,253 |
Change in Working Capital | -42,048 | -42,048 | -27,512 | -13,067 | -16,758 | -18,691 |