Company Valuation: Baidu, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 328,986 272,598 295,199 215,753 314,132 212,681 - -
Change - -17.14% 8.29% -26.91% 45.6% -32.3% - -
Enterprise Value (EV) 1 231,969 182,338 177,745 147,664 288,152 192,970 190,003 165,685
Change - -21.4% -2.52% -16.92% 95.14% -33.03% -1.54% -12.8%
P/E 33.7x 39.7x 15.3x 9.34x 77.6x 17.2x 14x 12.3x
PBR 1.54x 1.23x 1.22x 0.81x 1.17x 0.74x 0.7x 0.66x
PEG - -1.4x 0x 0.5x -0.9x 0x 0.6x 0.9x
Capitalization / Revenue 2.64x 2.2x 2.19x 1.62x 2.43x 1.67x 1.57x 1.43x
EV / Revenue 1.86x 1.47x 1.32x 1.11x 2.23x 1.52x 1.4x 1.11x
EV / EBITDA 9.31x 6.15x 4.96x 4.46x 12.6x 7.92x 7.14x 5.36x
EV / EBIT 22.1x 11.5x 8.13x 6.94x -49.5x 17.6x 15.1x 11.2x
EV / FCF 25.1x 10.2x 6.99x 11.3x -19.1x -15.4x 16.7x 7.45x
FCF Yield 3.98% 9.81% 14.3% 8.87% -5.24% -6.51% 5.99% 13.4%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 28.07 19.85 55.08 65.91 11.78 36.37 44.91 51.11
Distribution rate - - - - - - - -
Net sales 1 124,493 123,675 134,598 133,125 129,079 127,217 135,706 148,983
EBITDA 1 24,914 29,663 35,823 33,078 22,857 24,359 26,628 30,895
EBIT 1 10,518 15,911 21,856 21,270 -5,823 10,945 12,613 14,859
Net income 1 10,226 7,559 20,315 23,760 5,589 12,264 14,609 16,723
Net Debt 1 -97,017 -90,260 -117,454 -68,089 -25,980 -19,712 -22,679 -46,997
Reference price 2 945.20 788.90 844.46 615.39 913.89 627.03 627.03 627.03
Nbr of stocks (in thousands) 348,059 345,542 349,573 350,597 343,731 339,187 - -
Announcement Date 1/3/22 22/2/23 28/2/24 18/2/25 26/2/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.27x1.52x7.93x-.--% 31.69B
16.84x8.24x17.71x0.25% 4,223B
17.04x2.02x9.12x1.15% 23.86B
18.36x2.07x8.13x2.04% 23.27B
12.34x0.22x1.54x2.99% 159M
Average 16.37x 2.82x 8.89x 1.29% 860.46B
Weighted average by Cap. 16.86x 8.12x 17.54x 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.