Company Valuation: Baidu, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 328,986 272,598 295,199 215,753 314,132 241,766 - -
Change - -17.14% 8.29% -26.91% 45.6% -23.04% - -
Enterprise Value (EV) 1 231,969 182,338 177,745 147,664 288,152 212,556 205,324 195,699
Change - -21.4% -2.52% -16.92% 95.14% -26.23% -3.4% -4.69%
P/E 33.7x 39.7x 15.3x 9.34x 77.6x 16.5x 13.5x 11.5x
PBR 1.54x 1.23x 1.22x 0.81x 1.17x 0.84x 0.78x 0.73x
PEG - -1.4x 0x 0.5x -0.9x 0x 0.6x 0.6x
Capitalization / Revenue 2.64x 2.2x 2.19x 1.62x 2.43x 1.86x 1.74x 1.59x
EV / Revenue 1.86x 1.47x 1.32x 1.11x 2.23x 1.64x 1.48x 1.29x
EV / EBITDA 9.31x 6.15x 4.96x 4.46x 12.6x 8.75x 7.54x 6.01x
EV / EBIT 22.1x 11.5x 8.13x 6.94x -49.5x 17.3x 14.1x 11.3x
EV / FCF 25.1x 10.2x 6.99x 11.3x -19.1x 29.4x 16.9x 9.21x
FCF Yield 3.98% 9.81% 14.3% 8.87% -5.24% 3.4% 5.92% 10.9%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 28.07 19.85 55.08 65.91 11.78 43.32 52.62 62.13
Distribution rate - - - - - - - -
Net sales 1 124,493 123,675 134,598 133,125 129,079 129,781 138,755 152,245
EBITDA 1 24,914 29,663 35,823 33,078 22,857 24,289 27,233 32,555
EBIT 1 10,518 15,911 21,856 21,270 -5,823 12,290 14,585 17,384
Net income 1 10,226 7,559 20,315 23,760 5,589 14,098 17,333 19,650
Net Debt 1 -97,017 -90,260 -117,454 -68,089 -25,980 -29,210 -36,442 -46,067
Reference price 2 945.20 788.90 844.46 615.39 913.89 712.78 712.78 712.78
Nbr of stocks (in thousands) 348,059 345,542 349,573 350,597 343,731 339,187 - -
Announcement Date 01/03/22 22/02/23 28/02/24 18/02/25 26/02/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.45x1.64x8.75x-.--% 35.71B
16.36x8.04x17.28x0.26% 4,113B
16.07x1.84x7.88x1.21% 20.78B
17.96x2.19x8.62x2.33% 19.78B
7.13x0.26x1.7x3.79% 178M
Average 14.79x 2.79x 8.85x 1.52% 837.83B
Weighted average by Cap. 16.36x 7.92x 17.12x 0.27%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Baidu, Inc.