Stocktoria

Baidu, Inc. 9888.HK

HK · Hong Kong Stock Exchange · XHKG · stock · Communication Services · website

Baidu, Inc. statistics & valuation

Market capCN¥273.5B
P / E48.9×
P / S2.1×
P / B1.0×
Net margin4.3%
Return on equity2.1%
FCF margin-12.7%
Net debtCN¥72.5B
Enterprise value USD$38.9B
Earnings yield EBIT/EV3%
Return on capital2.9%
Graham number -37.1%CN¥63.43

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (CN¥63.43); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
6.10% 15.10% 17.80% 4.30% 2022202320242025
Gross margin (%)
48.30% 51.70% 50.30% 43.90% 2022202320242025
Operating margin (%)
12.90% 16.20% 16.00% 8.00% 2022202320242025
Return on equity (%)
3.40% 8.30% 9.00% 2.10% 2022202320242025
Shares outstanding
2.19B 2.19B 2.19B 2.19B 2022202320242025
Net debt (CN¥)
CN¥38.20B CN¥59.36B CN¥54.49B CN¥72.47B 2022202320242025
Share buybacks (CN¥)
CN¥1.93B CN¥4.76B CN¥6.32B CN¥5.54B 2022202320242025
Return on assets (%)
1.90% 5.00% 5.60% 1.20% 2022202320242025
Free cash flow margin (%)
14.40% 18.80% 9.70% -12.70% 2022202320242025
Debt / equity (×)
0.41× 0.35× 0.30× 0.36× 2022202320242025
EPS (CN¥)
CN¥2.48 CN¥6.89 CN¥8.24 CN¥1.47 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Baidu, Inc. trades at about 68.6× earnings — above its 10-year norm (10-year range 10.7×–103.9×, median 53.4×).

10.7× 103.9×

Shaded band = 10-year range (10.7×–103.9×); dot = today's 68.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin43.9%50.3%51.7%48.3%
Operating margin8.0%16.0%16.2%12.9%
Net margin4.3%17.8%15.1%6.1%
FCF margin-12.7%9.7%18.8%14.4%
Return on assets1.2%5.6%5.0%1.9%
Return on equity2.1%9.0%8.3%3.4%
Debt / equity0.23×0.20×0.24×0.28×
Current ratio1.762.093.012.67

Computed from company filings · HK · as of 2025-12-31. Figures in CNY. Facts plus Stocktoria's own computed scores — not investment advice.