Last 47 quarters of trend data · Communication Services · Internet Content & Information
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 13.76 | — | 1.06 | 1.07 | 1.60 | 1.22 | 1.44 | 1.77 | 5.73 | 1.79 | 2.33 | 2.30 | 2.02 |
| — | — | -26.6% | -39.8% | -72.1% | -31.8% | -38.2% | -23.1% | +183.5% | — | -35.5% | — | -67.9% | |
| P/S Ratio | 0.57 | 0.36 | 0.22 | 0.24 | 0.21 | 0.28 | 0.22 | 0.29 | 0.30 | 0.35 | 0.36 | 0.43 | 0.30 |
| — | +30.1% | -0.1% | -16.7% | -28.7% | -20.6% | -37.1% | -31.6% | -0.4% | +10.2% | -19.2% | +6.7% | -23.5% | |
| P/B Ratio | 1.12 | 0.16 | 0.10 | 0.11 | 0.10 | 0.13 | 0.11 | 0.14 | 0.16 | 0.18 | 0.19 | 0.22 | 0.17 |
| — | +17.3% | -11.7% | -20.9% | -35.5% | -27.7% | -41.8% | -36.0% | -4.7% | +3.3% | -15.5% | +6.4% | -28.0% | |
| P/FCF | 5.78 | — | — | — | 318.80 | 3.51 | 1.21 | 2.22 | 1.51 | 1.99 | 1.53 | 2.94 | 1.69 |
| — | — | — | — | +20961.4% | +76.1% | -20.7% | -24.7% | -10.4% | +27.4% | -35.4% | — | -93.8% | |
| EV / EBITDA | 3.63 | — | 4.21 | 3.28 | 3.57 | 2.79 | 2.28 | 3.38 | 3.42 | 3.05 | 3.45 | 3.59 | 3.06 |
| — | — | +84.7% | -3.1% | +4.4% | -8.7% | -34.0% | -5.8% | +11.7% | +40.3% | -2.4% | -5.3% | -62.4% | |
| EV / EBIT | 6.12 | 23.50 | 2.58 | 2.16 | 2.90 | 2.31 | 2.33 | 3.20 | 6.97 | 2.78 | 3.30 | 3.71 | 2.75 |
| — | +917.6% | +10.4% | -32.6% | -58.4% | -16.9% | -29.3% | -13.6% | +153.5% | -82.6% | -46.1% | -94.8% | -66.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Baidu, Inc.'s operating margin was -48.4% in Q3 2025, down 58.4 pp QoQ and down 66.1 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of -3.3% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 19.3% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.3% | 41.2% | 43.9% | 46.1% | 47.2% | 51.1% | 51.7% | 51.5% | 50.2% | 52.7% | 52.5% | 51.3% | 48.8% |
| — | -19.3% | -15.1% | -10.4% | -5.9% | -3.0% | -1.6% | +0.3% | +2.9% | +5.4% | +7.6% | +13.4% | +2.1% | |
| Operating Margin | 16.0% | -48.4% | 10.0% | 13.9% | 11.5% | 17.7% | 17.5% | 17.4% | 15.4% | 18.2% | 15.3% | 16.0% | 13.9% |
| — | -374.2% | -42.8% | -20.2% | -25.6% | -3.1% | +14.5% | +8.8% | +11.1% | +11.5% | +33.4% | +74.7% | +134.7% | |
| Net Margin | 17.8% | -36.0% | 22.4% | 23.8% | 15.2% | 22.7% | 16.2% | 17.3% | 7.4% | 19.4% | 15.3% | 18.7% | 15.0% |
| — | -258.4% | +38.4% | +37.5% | +104.6% | +17.3% | +5.7% | -7.6% | -50.3% | +4422.5% | +24.7% | +700.4% | +188.9% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.7% | -3.8% | 2.5% | 2.7% | 1.8% | 2.8% | 2.0% | 2.1% | 1.0% | 2.6% | 2.1% | 2.4% | 2.1% |
| — | -238.8% | +22.7% | +31.0% | +85.8% | +6.4% | -2.4% | -14.4% | -53.0% | +4205.5% | +30.4% | +709.2% | +176.4% | |
| ROA | 5.7% | -2.5% | 1.6% | 1.8% | 1.2% | 1.8% | 1.3% | 1.3% | 0.6% | 1.6% | 1.3% | 1.5% | 1.3% |
| — | -237.0% | +22.4% | +32.0% | +93.3% | +12.1% | +2.4% | -9.8% | -50.0% | +4436.3% | +35.0% | +728.1% | +183.0% | |
| ROIC | 4.8% | -3.2% | 0.7% | 1.0% | 0.9% | 1.4% | 1.4% | 1.3% | 1.3% | 1.5% | 1.3% | 1.3% | 1.3% |
| — | -330.9% | -49.9% | -21.7% | -30.7% | -9.1% | +10.9% | +0.9% | +1.1% | +6.3% | +39.1% | +79.9% | +139.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has weakened 13.1% YoY to 1.91x, tightening the short-term liquidity position.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.28 | 0.34 | 0.31 | 0.35 | 0.28 | 0.28 | 0.30 | 0.33 | 0.32 | 0.34 | 0.36 | 0.38 | 0.38 |
| — | +22.0% | +1.6% | +5.4% | -13.2% | -17.4% | -15.8% | -12.5% | -16.1% | -18.9% | -13.0% | -6.2% | -6.0% | |
| Debt / EBITDA | 2.21 | — | 16.97 | 15.80 | 13.52 | 10.06 | 10.84 | 12.59 | 11.40 | 10.63 | 12.90 | 10.90 | 14.30 |
| — | — | +56.5% | +25.5% | +18.5% | -5.4% | -16.0% | +15.5% | -20.2% | +4.1% | +0.4% | -21.0% | -48.6% | |
| Current Ratio | 2.09 | 1.91 | 1.85 | 2.29 | 2.09 | 2.19 | 2.32 | 2.79 | 3.01 | 2.82 | 2.83 | 2.94 | 2.67 |
| — | -13.1% | -20.3% | -18.0% | -30.7% | -22.3% | -18.2% | -4.9% | +12.7% | +14.9% | +3.1% | -5.3% | -6.7% | |
| Quick Ratio | 2.01 | 1.91 | 1.85 | 2.29 | 2.01 | 2.19 | 2.32 | 2.79 | 2.99 | 2.82 | 2.83 | 2.94 | 2.66 |
| — | -13.1% | -20.3% | -18.0% | -32.8% | -22.3% | -18.2% | -4.9% | +12.6% | +14.9% | +3.1% | -5.3% | -6.6% | |
| Interest Coverage | 7.53 | -23.92 | 4.67 | 5.63 | 6.09 | 8.80 | 8.01 | 7.16 | 6.97 | 7.36 | 6.38 | 6.19 | 6.22 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Start ComparisonBaidu, Inc.'s current P/E is 13.8x. The average P/E over the last 3 quarters is 1.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Baidu, Inc.'s current operating margin is 16.0%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Baidu, Inc.'s business trajectory between earnings reports.