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Side-by-side financial comparison of Baidu, Inc. (BIDU) and Carnival (CCL). Click either name above to swap in a different company.
Carnival is the larger business by last-quarter revenue ($6.3B vs $5.0B, roughly 1.3× Baidu, Inc.). Carnival runs the higher net margin — 6.6% vs 6.0%, a 0.7% gap on every dollar of revenue. On growth, Baidu, Inc. posted the faster year-over-year revenue change (14.0% vs 6.6%). Over the past eight quarters, Carnival's revenue compounded faster (8.2% CAGR vs 7.5%).
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.
CarnivalCCLEarnings & Financial Report
Carnival is the world's largest leisure travel group specializing in cruise operations. It owns multiple globally recognized cruise brands, serving millions of passengers yearly, offering all-inclusive vacation experiences covering accommodation, catering, entertainment, and shore excursions across global popular destinations.
BIDU vs CCL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.0B | $6.3B |
| Net Profit | $300.0M | $421.0M |
| Gross Margin | 41.0% | — |
| Operating Margin | 4.1% | 11.6% |
| Net Margin | 6.0% | 6.6% |
| Revenue YoY | 14.0% | 6.6% |
| Net Profit YoY | -47.1% | 38.9% |
| EPS (diluted) | $0.53 | $0.33 |
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.
| Q4 25 | $5.0B | $6.3B | ||
| Q3 25 | $4.4B | $8.2B | ||
| Q2 25 | $4.6B | $6.3B | ||
| Q1 25 | $4.5B | $5.8B | ||
| Q4 24 | $4.4B | $5.9B | ||
| Q3 24 | $4.8B | $7.9B | ||
| Q2 24 | $4.7B | $5.8B | ||
| Q1 24 | $4.4B | $5.4B |
| Q4 25 | $300.0M | $421.0M | ||
| Q3 25 | $-1.6B | $1.9B | ||
| Q2 25 | $1.0B | $565.0M | ||
| Q1 25 | $1.1B | $-78.0M | ||
| Q4 24 | $567.0M | $303.0M | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $768.0M | $92.0M | ||
| Q1 24 | $811.0M | $-214.0M |
| Q4 25 | 41.0% | — | ||
| Q3 25 | 41.2% | 46.2% | ||
| Q2 25 | 43.9% | 38.6% | ||
| Q1 25 | 46.1% | 35.2% | ||
| Q4 24 | 49.9% | 35.5% | ||
| Q3 24 | 51.1% | 45.5% | ||
| Q2 24 | 51.7% | 34.3% | ||
| Q1 24 | 51.5% | 31.5% |
| Q4 25 | 4.1% | 11.6% | ||
| Q3 25 | -48.4% | 27.9% | ||
| Q2 25 | 10.0% | 14.8% | ||
| Q1 25 | 13.9% | 9.3% | ||
| Q4 24 | 11.1% | 9.4% | ||
| Q3 24 | 17.6% | 27.6% | ||
| Q2 24 | 17.5% | 9.7% | ||
| Q1 24 | 17.4% | 5.1% |
| Q4 25 | 6.0% | 6.6% | ||
| Q3 25 | -36.3% | 22.7% | ||
| Q2 25 | 22.2% | 8.9% | ||
| Q1 25 | 24.1% | -1.3% | ||
| Q4 24 | 12.8% | 5.1% | ||
| Q3 24 | 23.2% | 22.0% | ||
| Q2 24 | 16.4% | 1.6% | ||
| Q1 24 | 18.6% | -4.0% |
| Q4 25 | $0.53 | $0.33 | ||
| Q3 25 | $-4.76 | $1.33 | ||
| Q2 25 | $2.84 | $0.42 | ||
| Q1 25 | $2.98 | $-0.06 | ||
| Q4 24 | $1.95 | $0.28 | ||
| Q3 24 | $3.08 | $1.26 | ||
| Q2 24 | — | $0.07 | ||
| Q1 24 | $2.07 | $-0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $16.5B | $1.9B |
| Total DebtLower is stronger | $5.9B | $27.4B |
| Stockholders' EquityBook value | $38.1B | $12.3B |
| Total Assets | $64.2B | $51.7B |
| Debt / EquityLower = less leverage | 0.16× | 2.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.5B | $1.9B | ||
| Q3 25 | $17.5B | $1.8B | ||
| Q2 25 | $17.3B | $2.1B | ||
| Q1 25 | $19.5B | $833.0M | ||
| Q4 24 | $17.5B | $1.2B | ||
| Q3 24 | $18.9B | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $2.2B |
| Q4 25 | $5.9B | $27.4B | ||
| Q3 25 | $2.5B | $27.2B | ||
| Q2 25 | $2.4B | $28.0B | ||
| Q1 25 | $2.3B | $27.7B | ||
| Q4 24 | $4.9B | $28.2B | ||
| Q3 24 | $2.1B | $29.6B | ||
| Q2 24 | — | $30.2B | ||
| Q1 24 | — | $31.6B |
| Q4 25 | $38.1B | $12.3B | ||
| Q3 25 | $38.6B | $11.9B | ||
| Q2 25 | $39.8B | $10.0B | ||
| Q1 25 | $38.6B | $9.2B | ||
| Q4 24 | $36.1B | $9.3B | ||
| Q3 24 | $38.5B | $8.6B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.7B |
| Q4 25 | $64.2B | $51.7B | ||
| Q3 25 | $62.4B | $50.8B | ||
| Q2 25 | $62.9B | $51.2B | ||
| Q1 25 | $62.6B | $48.5B | ||
| Q4 24 | $58.6B | $49.1B | ||
| Q3 24 | $59.5B | $49.8B | ||
| Q2 24 | — | $49.6B | ||
| Q1 24 | — | $49.8B |
| Q4 25 | 0.16× | 2.23× | ||
| Q3 25 | 0.07× | 2.28× | ||
| Q2 25 | 0.06× | 2.79× | ||
| Q1 25 | 0.06× | 3.02× | ||
| Q4 24 | 0.14× | 3.05× | ||
| Q3 24 | 0.05× | 3.45× | ||
| Q2 24 | — | 4.43× | ||
| Q1 24 | — | 4.72× |
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 | $1.5B | $1.5B |
| Free Cash FlowOCF − Capex | — | $12.0M |
| FCF MarginFCF / Revenue | — | 0.2% |
| Capex IntensityCapex / Revenue | — | 23.8% |
| Cash ConversionOCF / Net Profit | 5.08× | 3.61× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $1.5B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | $-6.3B | $2.4B | ||
| Q1 25 | — | $925.0M | ||
| Q4 24 | $4.0B | $911.0M | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | $5.3B | $2.0B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | — | $12.0M | ||
| Q3 25 | — | $736.0M | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $318.0M | ||
| Q4 24 | — | $319.0M | ||
| Q3 24 | — | $628.0M | ||
| Q2 24 | — | $720.0M | ||
| Q1 24 | — | $-370.0M |
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 9.0% | ||
| Q2 25 | — | 24.4% | ||
| Q1 25 | — | 5.5% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 8.0% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | -6.8% |
| Q4 25 | — | 23.8% | ||
| Q3 25 | — | 7.9% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 10.4% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | — | 7.3% | ||
| Q2 24 | — | 22.8% | ||
| Q1 24 | — | 39.5% |
| Q4 25 | 5.08× | 3.61× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | -6.26× | 4.23× | ||
| Q1 25 | — | — | ||
| Q4 24 | 7.12× | 3.01× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | 6.88× | 22.16× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BIDU
| Legacy Business | $1.8B | 35% |
| Baidu Core AI-powered Business | $1.6B | 32% |
| Other | $1.3B | 26% |
| Others | $357.5M | 7% |
CCL
| Cruise Passenger Ticket | $4.1B | 64% |
| Other | $2.2B | 34% |
| Cruise | $90.0M | 1% |
| Tour And Other | $29.0M | 0% |
