Company Valuation: Baidu, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 328,986 272,598 295,199 215,753 314,132 209,817 - -
Change - -17.14% 8.29% -26.91% 45.6% -33.21% - -
Enterprise Value (EV) 1 231,969 182,338 177,745 147,664 288,152 190,106 187,139 162,821
Change - -21.4% -2.52% -16.92% 95.14% -34.03% -1.56% -12.99%
P/E 33.7x 39.7x 15.3x 9.34x 77.6x 17x 13.7x 11.9x
PBR 1.54x 1.23x 1.22x 0.81x 1.17x 0.73x 0.69x 0.65x
PEG - -1.4x 0x 0.5x -0.9x 0x 0.6x 0.8x
Capitalization / Revenue 2.64x 2.2x 2.19x 1.62x 2.43x 1.65x 1.54x 1.41x
EV / Revenue 1.86x 1.47x 1.32x 1.11x 2.23x 1.5x 1.38x 1.09x
EV / EBITDA 9.31x 6.15x 4.96x 4.46x 12.6x 7.79x 7.02x 5.26x
EV / EBIT 22.1x 11.5x 8.13x 6.94x -49.5x 17.4x 14.8x 10.9x
EV / FCF 25.1x 10.2x 6.99x 11.3x -19.1x -15.1x 16.4x 7.32x
FCF Yield 3.98% 9.81% 14.3% 8.87% -5.24% -6.61% 6.08% 13.7%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 28.07 19.85 55.08 65.91 11.78 36.4 45.27 51.96
Distribution rate - - - - - - - -
Net sales 1 124,493 123,675 134,598 133,125 129,079 126,994 135,821 149,062
EBITDA 1 24,914 29,663 35,823 33,078 22,857 24,397 26,657 30,968
EBIT 1 10,518 15,911 21,856 21,270 -5,823 10,902 12,675 14,912
Net income 1 10,226 7,559 20,315 23,760 5,589 12,322 14,840 17,010
Net Debt 1 -97,017 -90,260 -117,454 -68,089 -25,980 -19,712 -22,679 -46,997
Reference price 2 945.20 788.90 844.46 615.39 913.89 618.59 618.59 618.59
Nbr of stocks (in thousands) 348,059 345,542 349,573 350,597 343,731 339,187 - -
Announcement Date 3/1/22 2/22/23 2/28/24 2/18/25 2/26/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.99x1.5x7.79x-.--% 31.19B
16.53x8.1x17.4x0.26% 4,153B
17.02x2.01x9.1x1.15% 23.57B
18.06x2.01x7.88x2.13% 22.36B
Average 17.15x 3.40x 10.54x 0.88% 1,057B
Weighted average by Cap. 16.55x 7.99x 17.23x 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.