Company Valuation: Baidu, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 328,986 272,598 295,199 215,753 314,132 271,147 - -
Change - -17.14% 8.29% -26.91% 45.6% -13.68% - -
Enterprise Value (EV) 1 231,969 182,338 177,745 147,664 288,152 240,258 231,793 220,162
Change - -21.4% -2.52% -16.92% 95.14% -16.62% -3.52% -5.02%
P/E 33.7x 39.7x 15.3x 9.34x 77.6x 16.9x 14.6x 12.2x
PBR 1.54x 1.23x 1.22x 0.81x 1.17x 0.93x 0.87x 0.81x
PEG - -1.4x 0x 0.5x -0.9x 0x 0.9x 0.6x
Capitalization / Revenue 2.64x 2.2x 2.19x 1.62x 2.43x 2.04x 1.9x 1.71x
EV / Revenue 1.86x 1.47x 1.32x 1.11x 2.23x 1.8x 1.62x 1.39x
EV / EBITDA 9.31x 6.15x 4.96x 4.46x 12.6x 9.61x 8.27x 6.67x
EV / EBIT 22.1x 11.5x 8.13x 6.94x -49.5x 18.8x 15.5x 12.5x
EV / FCF 25.1x 10.2x 6.99x 11.3x -19.1x 27.3x 17.3x 9.41x
FCF Yield 3.98% 9.81% 14.3% 8.87% -5.24% 3.66% 5.78% 10.6%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 28.07 19.85 55.08 65.91 11.78 47.29 54.57 65.54
Distribution rate - - - - - - - -
Net sales 1 124,493 123,675 134,598 133,125 129,079 133,190 143,025 158,134
EBITDA 1 24,914 29,663 35,823 33,078 22,857 25,002 28,026 33,013
EBIT 1 10,518 15,911 21,856 21,270 -5,823 12,757 14,967 17,665
Net income 1 10,226 7,559 20,315 23,760 5,589 15,603 18,179 20,926
Net Debt 1 -97,017 -90,260 -117,454 -68,089 -25,980 -30,890 -39,355 -50,986
Reference price 2 945.20 788.90 844.46 615.39 913.89 796.90 796.90 796.90
Nbr of stocks (in thousands) 348,059 345,542 349,573 350,597 343,731 340,253 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.85x1.8x9.61x-.--% 39.99B
25.12x8.75x18.76x0.25% 4,347B
16.83x2.11x8.31x2.42% 18.91B
15.65x1.72x7.33x1.27% 19.06B
6.82x0.24x1.59x3.96% 172M
Average 16.25x 2.93x 9.12x 1.58% 884.99B
Weighted average by Cap. 24.97x 8.63x 18.59x 0.26%

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.