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Side-by-side financial comparison of Baidu, Inc. (BIDU) and CoreWeave, Inc. (CRWV). Click either name above to swap in a different company.
Baidu, Inc. is the larger business by last-quarter revenue ($5.0B vs $1.6B, roughly 3.2× CoreWeave, Inc.). Baidu, Inc. runs the higher net margin — 6.0% vs -28.7%, a 34.7% gap on every dollar of revenue.
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.
CoreWeave, Inc. is an American artificial intelligence (AI) cloud-computing company based in Livingston, New Jersey. It specializes in providing cloud-based graphics processing unit (GPU) infrastructure to AI developers and enterprises, and also develops its own chip management software.
BIDU vs CRWV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.0B | $1.6B |
| Net Profit | $300.0M | $-451.7M |
| Gross Margin | 41.0% | 67.6% |
| Operating Margin | 4.1% | -5.7% |
| Net Margin | 6.0% | -28.7% |
| Revenue YoY | 14.0% | — |
| Net Profit YoY | -47.1% | — |
| EPS (diluted) | $0.53 | $-0.50 |
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 | $1.6B | ||
| Q3 25 | $4.4B | $1.4B | ||
| Q2 25 | $4.6B | $1.2B | ||
| Q1 25 | $4.5B | $981.6M | ||
| Q4 24 | $4.4B | — | ||
| Q3 24 | $4.8B | $583.9M | ||
| Q2 24 | $4.7B | $395.4M | ||
| Q1 24 | $4.4B | — |
| Q4 25 | $300.0M | $-451.7M | ||
| Q3 25 | $-1.6B | $-110.1M | ||
| Q2 25 | $1.0B | $-290.5M | ||
| Q1 25 | $1.1B | $-314.6M | ||
| Q4 24 | $567.0M | — | ||
| Q3 24 | $1.1B | $-359.8M | ||
| Q2 24 | $768.0M | $-323.0M | ||
| Q1 24 | $811.0M | — |
| Q4 25 | 41.0% | 67.6% | ||
| Q3 25 | 41.2% | 73.0% | ||
| Q2 25 | 43.9% | 74.2% | ||
| Q1 25 | 46.1% | 73.3% | ||
| Q4 24 | 49.9% | — | ||
| Q3 24 | 51.1% | 75.5% | ||
| Q2 24 | 51.7% | 72.5% | ||
| Q1 24 | 51.5% | — |
| Q4 25 | 4.1% | -5.7% | ||
| Q3 25 | -48.4% | 3.8% | ||
| Q2 25 | 10.0% | 1.6% | ||
| Q1 25 | 13.9% | -2.8% | ||
| Q4 24 | 11.1% | — | ||
| Q3 24 | 17.6% | 20.1% | ||
| Q2 24 | 17.5% | 19.7% | ||
| Q1 24 | 17.4% | — |
| Q4 25 | 6.0% | -28.7% | ||
| Q3 25 | -36.3% | -8.1% | ||
| Q2 25 | 22.2% | -24.0% | ||
| Q1 25 | 24.1% | -32.1% | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 23.2% | -61.6% | ||
| Q2 24 | 16.4% | -81.7% | ||
| Q1 24 | 18.6% | — |
| Q4 25 | $0.53 | $-0.50 | ||
| Q3 25 | $-4.76 | $-0.22 | ||
| Q2 25 | $2.84 | $-0.60 | ||
| Q1 25 | $2.98 | $-1.49 | ||
| Q4 24 | $1.95 | — | ||
| Q3 24 | $3.08 | $-1.82 | ||
| Q2 24 | — | $-1.62 | ||
| Q1 24 | $2.07 | — |
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 | $3.2B |
| Total DebtLower is stronger | $5.9B | $21.4B |
| Stockholders' EquityBook value | $38.1B | $3.3B |
| Total Assets | $64.2B | $49.3B |
| Debt / EquityLower = less leverage | 0.16× | 6.41× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.5B | $3.2B | ||
| Q3 25 | $17.5B | $1.9B | ||
| Q2 25 | $17.3B | $1.2B | ||
| Q1 25 | $19.5B | $1.3B | ||
| Q4 24 | $17.5B | — | ||
| Q3 24 | $18.9B | $1.4B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | — |
| Q4 25 | $5.9B | $21.4B | ||
| Q3 25 | $2.5B | $14.0B | ||
| Q2 25 | $2.4B | $11.1B | ||
| Q1 25 | $2.3B | $8.7B | ||
| Q4 24 | $4.9B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $38.1B | $3.3B | ||
| Q3 25 | $38.6B | $3.9B | ||
| Q2 25 | $39.8B | $2.7B | ||
| Q1 25 | $38.6B | $1.9B | ||
| Q4 24 | $36.1B | — | ||
| Q3 24 | $38.5B | $-344.0M | ||
| Q2 24 | — | $-1.0B | ||
| Q1 24 | — | — |
| Q4 25 | $64.2B | $49.3B | ||
| Q3 25 | $62.4B | $32.9B | ||
| Q2 25 | $62.9B | $26.2B | ||
| Q1 25 | $62.6B | $21.9B | ||
| Q4 24 | $58.6B | — | ||
| Q3 24 | $59.5B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.16× | 6.41× | ||
| Q3 25 | 0.07× | 3.62× | ||
| Q2 25 | 0.06× | 4.16× | ||
| Q1 25 | 0.06× | 4.57× | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.05× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.6B |
| Free Cash FlowOCF − Capex | — | $-2.5B |
| FCF MarginFCF / Revenue | — | -159.1% |
| Capex IntensityCapex / Revenue | — | 258.3% |
| Cash ConversionOCF / Net Profit | 5.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-7.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $-6.3B | $-251.3M | ||
| Q1 25 | — | $61.2M | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $-2.5B | ||
| Q3 25 | — | $-699.8M | ||
| Q2 25 | — | $-2.7B | ||
| Q1 25 | — | $-1.3B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -159.1% | ||
| Q3 25 | — | -51.3% | ||
| Q2 25 | — | -223.0% | ||
| Q1 25 | — | -137.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 258.3% | ||
| Q3 25 | — | 175.1% | ||
| Q2 25 | — | 202.3% | ||
| Q1 25 | — | 143.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 5.08× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -6.26× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 7.12× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.88× | — | ||
| 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% |
CRWV
| US | $1.4B | 92% |
| Non Us | $129.3M | 8% |
