Baidu, Inc.

BIDUNASDAQCommunication Services● Active

$120.08

$-1.59(-1.30%)

Market Cap$40.8B

P/E Ratio—

52W High$165.3

52W Low$83.3

Avg Volume2.3M

Open$121.37

Beta0.53

Free Cash Flow Financials Revenue

Baidu, Inc. (BIDU) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

BIDU · free cash flow · updated Jun 8, 2026

Core FCF metrics

BIDU · FCF · TTM · margin & CAGR

Free cash flow was −$16.43B for FY2025 (fiscal year ending 2025-12-31), down 225.4% year-over-year The FCF margin was -12.7%.

FY2025 Free Cash Flow−$16.43B▼ -225.4% YoY

Trailing 12M (TTM)−$15.64Btrailing 4 quarters sum

FCF Margin-12.7%−$16.43B ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

BIDU · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$3.01B(13.42B)−$16.43B▼ 225.4%-12.7%

FY2024$21.23B(8.13B)$13.10B▼ 48.3%9.8%

FY2023$36.62B(11.29B)$25.32B▲ +42.4%18.8%

FY2022$26.17B(8.39B)$17.78B▲ +100.1%14.4%

FY2021$20.12B(11.24B)$8.88B▼ 52.9%7.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

BIDU · P/FCF · FCF yield · FCF per share

Baidu, Inc. (BIDU) reported negative free cash flow of −$16.43B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

BIDU · cash flow statement · operating / investing / financing

For FY2025, Baidu, Inc. generated −$3.01B in operating cash flow and spent 13.42B in capital expenditures, yielding −$16.43B in free cash flow.

Operating Activities

−$3.01B

Cash from core business operations

2025-12-31

Investing Activities

−$25.14B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$17.14B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$3.01B) − |CapEx| (13.42B) = FCF (−$16.43B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Communication Services)

BIDU vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Baidu, Inc.YOU

BIDU

−$16.43B-225.4%-12.7%

Loss

About Free Cash Flow & Methodology

Baidu, Inc. (BIDU) reported free cash flow of −$16.43B for FY2025 (fiscal year ending 2025-12-31), down 225.4% year-over-year. The FCF margin was -12.7%.

Based on available data, Baidu, Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $25.32B in FY2023.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

BIDU free cash flow · 8 questions

Baidu, Inc. free cash flow was −$16.43B for FY2025, down 225.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$15.64B.

BIDU free cash flowBIDU FCFBIDU FCF 2025BIDU free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Baidu, Inc. · Baidu, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026