Baidu, Inc. (BIDU) cash flow statement

NASDAQ · Communication Services · Internet Content & Information · 33,500 employees · CEO Yanhong Li

Price: $76.40 -2.86%
Market cap: $26B
Enterprise value: CN¥262B
Last report: Q2 '26 filed 2026-08-18
Next report: 2026-11-16

In Q2 '26 Baidu, Inc. (BIDU) generated CN¥3.44B of operating cash flow, invested CN¥0 in capital expenditure and kept -CN¥7.95B of free cash flow. Over the last four quarters free cash flow was -CN¥13.3B.

Cash flow

Cash flow	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Operating
Net income	CN¥6.68B	CN¥2.6B	CN¥5.45B	CN¥0	CN¥0	CN¥5.19B	CN¥7.72B	CN¥7.32B	-CN¥11.2B	CN¥1.78B	CN¥3.45B	CN¥2.32B
Depreciation & amortization	CN¥1.97B	CN¥9.64B	CN¥1.62B	CN¥1.69B	CN¥1.76B	CN¥9.66B	CN¥1.95B	CN¥2.13B	CN¥2.29B	CN¥1.76B	CN¥2.2B	CN¥2.42B
Stock-based compensation	CN¥1.28B	CN¥1.64B	CN¥1.14B	CN¥0	CN¥0	CN¥1.09B	CN¥751M	CN¥1.08B	CN¥1.04B	CN¥729M	CN¥563M	CN¥709M
Change in working capital	CN¥0	-CN¥14.1B	CN¥0	CN¥0	CN¥0	-CN¥30.3B	CN¥0	CN¥0	CN¥0	-CN¥38.3B	CN¥0	CN¥0
Other non-cash items	-CN¥398M	CN¥10.9B	-CN¥1.99B	CN¥6.69B	-CN¥1.15B	CN¥16.7B	-CN¥16.4B	-CN¥11.4B	CN¥9.15B	CN¥36.7B	-CN¥3.54B	-CN¥2.01B
Operating cash flow	CN¥9.53B	CN¥10.6B	CN¥6.22B	CN¥8.38B	CN¥610M	CN¥2.36B	-CN¥6B	-CN¥877M	CN¥1.26B	CN¥2.61B	CN¥2.67B	CN¥3.44B
Investing
Capital expenditure	-CN¥3.53B	-CN¥3.66B	-CN¥2.04B	CN¥0	CN¥0	-CN¥2.33B	-CN¥2.9B	-CN¥3.8B	-CN¥3.4B	-CN¥1.31B	-CN¥5.92B	CN¥0
Acquisitions	CN¥0	-CN¥115M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other investing	-CN¥7.87B	-CN¥9.46B	-CN¥1.08B	CN¥14.2B	-CN¥1.99B	-CN¥3.3B	CN¥1.7B	-CN¥4.74B	CN¥6.4B	-CN¥17.1B	CN¥10.9B	-CN¥26.2B
Investing cash flow	-CN¥11.4B	-CN¥13.2B	-CN¥3.12B	CN¥14.2B	-CN¥1.99B	-CN¥5.64B	-CN¥1.21B	-CN¥8.54B	CN¥3B	-CN¥18.4B	CN¥4.94B	-CN¥26.2B
Financing
Share buybacks	CN¥0	-CN¥4.76B	CN¥0	CN¥0	CN¥0	-CN¥6.32B	CN¥0	CN¥0	CN¥0	-CN¥5.38B	CN¥0	-CN¥1.39B
Other financing (incl. tax on vested shares)	-CN¥4.98B	-CN¥2.84B	CN¥2.39B	-CN¥9.08B	-CN¥769M	CN¥4.65B	CN¥20.5B	-CN¥9.15B	CN¥4.68B	CN¥6.4B	-CN¥1.64B	CN¥18.7B
Financing cash flow	-CN¥4.98B	-CN¥7.61B	CN¥2.39B	-CN¥9.08B	-CN¥769M	-CN¥1.67B	CN¥20.5B	-CN¥9.15B	CN¥4.68B	CN¥1.11B	-CN¥1.64B	CN¥17.3B
Summary
FX effect on cash	CN¥158M	-CN¥395M	CN¥169M	CN¥88M	-CN¥115M	CN¥643M	-CN¥6M	-CN¥238M	-CN¥202M	-CN¥305M	-CN¥276M	CN¥212M
Net change in cash	-CN¥6.7B	-CN¥10.6B	CN¥5.66B	CN¥13.6B	-CN¥2.26B	-CN¥4.31B	CN¥13.3B	-CN¥18.8B	CN¥8.73B	-CN¥15B	CN¥5.7B	-CN¥5.32B
Free cash flow (OCF - capex)	CN¥6B	CN¥6.96B	CN¥4.18B	CN¥8.38B	CN¥610M	CN¥23M	-CN¥8.9B	-CN¥4.68B	-CN¥2.15B	CN¥87.6M	-CN¥3.25B	-CN¥7.95B

Cash flow	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Operating
Net income	CN¥11.6B	CN¥18.3B	CN¥22.6B	-CN¥2.29B	CN¥19B	CN¥7.59B	CN¥7.53B	CN¥21.5B	CN¥24.2B	CN¥5.59B
Depreciation & amortization	CN¥8.33B	CN¥11.7B	CN¥16.2B	CN¥22.1B	CN¥22.7B	CN¥22.6B	CN¥20.1B	CN¥21.5B	CN¥20.5B	CN¥21.4B
Stock-based compensation	CN¥1.76B	CN¥3.24B	CN¥4.68B	CN¥5.63B	CN¥6.73B	CN¥7.06B	CN¥6.79B	CN¥6.35B	CN¥4.78B	CN¥3.61B
Deferred income tax	-CN¥13.6M	-CN¥756M	-CN¥761M	-CN¥696M	CN¥115M	-CN¥449M	-CN¥99M	-CN¥163M	CN¥1.04B	-CN¥1.24B
Change in working capital	CN¥5.64B	CN¥6.58B	CN¥3.28B	-CN¥6.69B	-CN¥18.2B	-CN¥18.7B	-CN¥16.8B	-CN¥13.1B	-CN¥27.5B	-CN¥40.9B
Other non-cash items	-CN¥5.05B	-CN¥6.22B	-CN¥10B	CN¥10.4B	-CN¥6.18B	CN¥2.06B	CN¥8.62B	CN¥494M	-CN¥1.77B	CN¥8.58B
Operating cash flow	CN¥22.3B	CN¥32.9B	CN¥36B	CN¥28.5B	CN¥24.2B	CN¥20.1B	CN¥26.2B	CN¥36.6B	CN¥21.2B	-CN¥3.01B
Investing
Capital expenditure	-CN¥10.5B	-CN¥14B	-CN¥22.4B	-CN¥19.1B	-CN¥5.33B	-CN¥11.2B	-CN¥8.39B	-CN¥11.2B	-CN¥8.13B	-CN¥13.1B
Acquisitions	CN¥275M	CN¥892M	CN¥3.6B	-CN¥1.45B	-CN¥2.88B	-CN¥12.3B	CN¥256M	-CN¥115M	CN¥8.44B	CN¥1.15B
Purchases of investments	-CN¥243B	-CN¥316B	-CN¥338B	-CN¥345B	-CN¥297B	-CN¥200B	-CN¥185B	-CN¥203B	-CN¥305B	-CN¥316B
Sales / maturities of investments	CN¥222B	CN¥276B	CN¥316B	CN¥345B	CN¥276B	CN¥193B	CN¥190B	CN¥162B	CN¥299B	CN¥302B
Other investing	-CN¥4.3B	-CN¥23.5B	CN¥5.97B	CN¥31M	CN¥905M	CN¥71M	-CN¥761M	CN¥2.47B	-CN¥2.51B	-CN¥190M
Investing cash flow	-CN¥35.9B	-CN¥76.9B	-CN¥34.5B	-CN¥20B	-CN¥27.6B	-CN¥31.4B	-CN¥3.94B	-CN¥50.4B	-CN¥8.56B	-CN¥25.1B
Financing
Net debt issued / repaid	CN¥6.85B	CN¥23.6B	CN¥20.7B	CN¥1.34B	CN¥12.4B	CN¥8.84B	-CN¥6.81B	-CN¥13.1B	-CN¥7.54B	CN¥19.7B
Share buybacks	CN¥0	-CN¥1.72B	-CN¥3.31B	-CN¥4.96B	-CN¥13.1B	-CN¥7.58B	-CN¥1.93B	-CN¥4.76B	-CN¥6.32B	-CN¥5.39B
Dividends	CN¥0	-CN¥35.9B	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other financing (incl. tax on vested shares)	CN¥6.94B	CN¥54.5B	-CN¥2.33B	-CN¥253M	CN¥6.33B	CN¥1.58B	CN¥2.35B	CN¥3.7B	CN¥102M	CN¥2.7B
Financing cash flow	CN¥14.4B	CN¥44.6B	CN¥15.1B	-CN¥3.87B	CN¥5.67B	CN¥23.4B	-CN¥6.39B	-CN¥14.2B	-CN¥13.8B	CN¥17.1B
Summary
FX effect on cash	CN¥144M	-CN¥316M	CN¥1.9B	CN¥1M	-CN¥212M	-CN¥943M	CN¥1.73B	CN¥282M	CN¥95M	-CN¥751M
Net change in cash	CN¥939M	CN¥186M	CN¥18.5B	CN¥4.61B	CN¥2.1B	CN¥11.1B	CN¥17.6B	-CN¥27.7B	-CN¥985M	-CN¥11.8B
Free cash flow (OCF - capex)	CN¥11.7B	CN¥18.9B	CN¥13.6B	CN¥9.34B	CN¥18.9B	CN¥8.88B	CN¥17.8B	CN¥25.3B	CN¥13.1B	-CN¥16.4B
Income taxes paid	CN¥2.4B	CN¥3.3B	CN¥5.51B	CN¥4.1B	CN¥3.61B	CN¥3.25B	CN¥3.53B	CN¥3.67B	CN¥3.68B	CN¥3.25B
Interest paid	CN¥1.11B	CN¥1.21B	CN¥1.58B	CN¥2.45B	CN¥2.2B	CN¥2.54B	CN¥2.69B	CN¥2.76B	CN¥2.24B	CN¥2.01B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Share count and EPS

quarterly, diluted

The other statements

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02 · Amounts in CNY as reported; price and market cap in USD.