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Side-by-side financial comparison of ALASKA AIR GROUP, INC. (ALK) and Baidu, Inc. (BIDU). Click either name above to swap in a different company.
Baidu, Inc. is the larger business by last-quarter revenue ($5.0B vs $3.3B, roughly 1.5× ALASKA AIR GROUP, INC.). Baidu, Inc. runs the higher net margin — 6.0% vs -5.8%, a 11.8% gap on every dollar of revenue. On growth, Baidu, Inc. posted the faster year-over-year revenue change (14.0% vs 5.2%). Over the past eight quarters, Baidu, Inc.'s revenue compounded faster (7.5% CAGR vs 6.7%).
Alaska Air Group, Inc. is an American airline holding company based in SeaTac, Washington, United States. The group owns two mainline carriers, Alaska Airlines and Hawaiian Airlines, along with a regional airline, Horizon Air. Alaska Airlines in turn wholly owns an aircraft ground handling company, McGee Air Services.
Baidu, Inc. is a Chinese multinational technology company specializing in Internet services and artificial intelligence. It holds a dominant position in China's search engine market, and provides a wide variety of other internet services such as Baidu App, Baidu Baike, iQIYI, and Baidu Tieba.
ALK vs BIDU — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $5.0B |
| Net Profit | $-193.0M | $300.0M |
| Gross Margin | — | 41.0% |
| Operating Margin | — | 4.1% |
| Net Margin | -5.8% | 6.0% |
| Revenue YoY | 5.2% | 14.0% |
| Net Profit YoY | -16.3% | -47.1% |
| EPS (diluted) | $-1.69 | $0.53 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.3B | — | ||
| Q4 25 | $3.6B | $5.0B | ||
| Q3 25 | $3.8B | $4.4B | ||
| Q2 25 | $3.7B | $4.6B | ||
| Q1 25 | $3.1B | $4.5B | ||
| Q4 24 | $3.5B | $4.4B | ||
| Q3 24 | $3.1B | $4.8B | ||
| Q2 24 | $2.9B | $4.7B |
| Q1 26 | $-193.0M | — | ||
| Q4 25 | $21.0M | $300.0M | ||
| Q3 25 | $73.0M | $-1.6B | ||
| Q2 25 | $172.0M | $1.0B | ||
| Q1 25 | $-166.0M | $1.1B | ||
| Q4 24 | $71.0M | $567.0M | ||
| Q3 24 | $236.0M | $1.1B | ||
| Q2 24 | $220.0M | $768.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 41.0% | ||
| Q3 25 | — | 41.2% | ||
| Q2 25 | — | 43.9% | ||
| Q1 25 | — | 46.1% | ||
| Q4 24 | — | 49.9% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 51.7% |
| Q1 26 | — | — | ||
| Q4 25 | 2.1% | 4.1% | ||
| Q3 25 | 3.9% | -48.4% | ||
| Q2 25 | 7.5% | 10.0% | ||
| Q1 25 | -6.3% | 13.9% | ||
| Q4 24 | 2.1% | 11.1% | ||
| Q3 24 | 11.1% | 17.6% | ||
| Q2 24 | 11.1% | 17.5% |
| Q1 26 | -5.8% | — | ||
| Q4 25 | 0.6% | 6.0% | ||
| Q3 25 | 1.9% | -36.3% | ||
| Q2 25 | 4.6% | 22.2% | ||
| Q1 25 | -5.3% | 24.1% | ||
| Q4 24 | 2.0% | 12.8% | ||
| Q3 24 | 7.7% | 23.2% | ||
| Q2 24 | 7.6% | 16.4% |
| Q1 26 | $-1.69 | — | ||
| Q4 25 | $0.14 | $0.53 | ||
| Q3 25 | $0.62 | $-4.76 | ||
| Q2 25 | $1.42 | $2.84 | ||
| Q1 25 | $-1.35 | $2.98 | ||
| Q4 24 | $0.58 | $1.95 | ||
| Q3 24 | $1.84 | $3.08 | ||
| Q2 24 | $1.71 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $451.0M | $16.5B |
| Total DebtLower is stronger | $5.3B | $5.9B |
| Stockholders' EquityBook value | $3.7B | $38.1B |
| Total Assets | $20.3B | $64.2B |
| Debt / EquityLower = less leverage | 1.43× | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $451.0M | — | ||
| Q4 25 | $627.0M | $16.5B | ||
| Q3 25 | $2.3B | $17.5B | ||
| Q2 25 | $2.1B | $17.3B | ||
| Q1 25 | $2.5B | $19.5B | ||
| Q4 24 | $2.5B | $17.5B | ||
| Q3 24 | $2.5B | $18.9B | ||
| Q2 24 | $2.5B | — |
| Q1 26 | $5.3B | — | ||
| Q4 25 | $4.8B | $5.9B | ||
| Q3 25 | $5.0B | $2.5B | ||
| Q2 25 | $4.9B | $2.4B | ||
| Q1 25 | $4.8B | $2.3B | ||
| Q4 24 | $4.5B | $4.9B | ||
| Q3 24 | $4.6B | $2.1B | ||
| Q2 24 | $2.7B | — |
| Q1 26 | $3.7B | — | ||
| Q4 25 | $4.1B | $38.1B | ||
| Q3 25 | $4.0B | $38.6B | ||
| Q2 25 | $3.9B | $39.8B | ||
| Q1 25 | $4.1B | $38.6B | ||
| Q4 24 | $4.4B | $36.1B | ||
| Q3 24 | $4.5B | $38.5B | ||
| Q2 24 | $4.2B | — |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $20.4B | $64.2B | ||
| Q3 25 | $20.0B | $62.4B | ||
| Q2 25 | $19.9B | $62.9B | ||
| Q1 25 | $19.8B | $62.6B | ||
| Q4 24 | $19.8B | $58.6B | ||
| Q3 24 | $19.6B | $59.5B | ||
| Q2 24 | $15.3B | — |
| Q1 26 | 1.43× | — | ||
| Q4 25 | 1.17× | 0.16× | ||
| Q3 25 | 1.24× | 0.07× | ||
| Q2 25 | 1.26× | 0.06× | ||
| Q1 25 | 1.16× | 0.06× | ||
| Q4 24 | 1.04× | 0.14× | ||
| Q3 24 | 1.03× | 0.05× | ||
| Q2 24 | 0.63× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $229.0M | $1.5B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 10.2% | — |
| Cash ConversionOCF / Net Profit | — | 5.08× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $229.0M | — | ||
| Q4 25 | $185.0M | $1.5B | ||
| Q3 25 | $229.0M | — | ||
| Q2 25 | $376.0M | $-6.3B | ||
| Q1 25 | $459.0M | — | ||
| Q4 24 | $274.0M | $4.0B | ||
| Q3 24 | $318.0M | — | ||
| Q2 24 | $580.0M | $5.3B |
| Q1 26 | 10.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 8.81× | 5.08× | ||
| Q3 25 | 3.14× | — | ||
| Q2 25 | 2.19× | -6.26× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.86× | 7.12× | ||
| Q3 24 | 1.35× | — | ||
| Q2 24 | 2.64× | 6.88× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALK
| Passenger revenue | $2.9B | 88% |
| Loyalty program other revenue | $227.0M | 7% |
| Cargo and other revenue | $153.0M | 5% |
BIDU
| Legacy Business | $1.8B | 35% |
| Baidu Core AI-powered Business | $1.6B | 32% |
| Other | $1.3B | 26% |
| Others | $357.5M | 7% |
