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Side-by-side financial comparison of Baidu, Inc. (BIDU) and PG&E Corporation (PCG). Click either name above to swap in a different company.
PG&E Corporation is the larger business by last-quarter revenue ($6.9B vs $5.0B, roughly 1.4× Baidu, Inc.). PG&E Corporation runs the higher net margin — 12.9% vs 6.0%, a 6.9% gap on every dollar of revenue. On growth, PG&E Corporation posted the faster year-over-year revenue change (15.0% vs 14.0%). Over the past eight quarters, Baidu, Inc.'s revenue compounded faster (7.5% CAGR vs 7.2%).
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.
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
BIDU vs PCG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.0B | $6.9B |
| Net Profit | $300.0M | $885.0M |
| Gross Margin | 41.0% | — |
| Operating Margin | 4.1% | 21.4% |
| Net Margin | 6.0% | 12.9% |
| Revenue YoY | 14.0% | 15.0% |
| Net Profit YoY | -47.1% | 39.6% |
| EPS (diluted) | $0.53 | $0.39 |
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 | — | $6.9B | ||
| Q4 25 | $5.0B | $6.8B | ||
| Q3 25 | $4.4B | $6.3B | ||
| Q2 25 | $4.6B | $5.9B | ||
| Q1 25 | $4.5B | $6.0B | ||
| Q4 24 | $4.4B | $6.6B | ||
| Q3 24 | $4.8B | $5.9B | ||
| Q2 24 | $4.7B | $6.0B |
| Q1 26 | — | $885.0M | ||
| Q4 25 | $300.0M | $670.0M | ||
| Q3 25 | $-1.6B | $850.0M | ||
| Q2 25 | $1.0B | $549.0M | ||
| Q1 25 | $1.1B | $634.0M | ||
| Q4 24 | $567.0M | $674.0M | ||
| Q3 24 | $1.1B | $579.0M | ||
| Q2 24 | $768.0M | $524.0M |
| 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 | — | 21.4% | ||
| Q4 25 | 4.1% | 18.0% | ||
| Q3 25 | -48.4% | 19.3% | ||
| Q2 25 | 10.0% | 18.6% | ||
| Q1 25 | 13.9% | 20.4% | ||
| Q4 24 | 11.1% | 15.4% | ||
| Q3 24 | 17.6% | 17.3% | ||
| Q2 24 | 17.5% | 18.9% |
| Q1 26 | — | 12.9% | ||
| Q4 25 | 6.0% | 9.8% | ||
| Q3 25 | -36.3% | 13.6% | ||
| Q2 25 | 22.2% | 9.3% | ||
| Q1 25 | 24.1% | 10.6% | ||
| Q4 24 | 12.8% | 10.2% | ||
| Q3 24 | 23.2% | 9.7% | ||
| Q2 24 | 16.4% | 8.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | $0.53 | $0.29 | ||
| Q3 25 | $-4.76 | $0.37 | ||
| Q2 25 | $2.84 | $0.24 | ||
| Q1 25 | $2.98 | $0.28 | ||
| Q4 24 | $1.95 | $0.30 | ||
| Q3 24 | $3.08 | $0.27 | ||
| Q2 24 | — | $0.24 |
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 | — |
| Total DebtLower is stronger | $5.9B | — |
| Stockholders' EquityBook value | $38.1B | — |
| Total Assets | $64.2B | — |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $16.5B | $713.0M | ||
| Q3 25 | $17.5B | $404.0M | ||
| Q2 25 | $17.3B | $494.0M | ||
| Q1 25 | $19.5B | $2.0B | ||
| Q4 24 | $17.5B | $940.0M | ||
| Q3 24 | $18.9B | $895.0M | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | $5.9B | $57.4B | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $4.9B | $53.6B | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $38.1B | $32.5B | ||
| Q3 25 | $38.6B | $32.0B | ||
| Q2 25 | $39.8B | $31.2B | ||
| Q1 25 | $38.6B | $30.7B | ||
| Q4 24 | $36.1B | $30.1B | ||
| Q3 24 | $38.5B | $26.8B | ||
| Q2 24 | — | $26.3B |
| Q1 26 | — | — | ||
| Q4 25 | $64.2B | $141.6B | ||
| Q3 25 | $62.4B | $138.2B | ||
| Q2 25 | $62.9B | $136.4B | ||
| Q1 25 | $62.6B | $135.4B | ||
| Q4 24 | $58.6B | $133.7B | ||
| Q3 24 | $59.5B | $132.3B | ||
| Q2 24 | — | $130.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.16× | 1.76× | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.06× | — | ||
| Q1 25 | 0.06× | — | ||
| Q4 24 | 0.14× | 1.78× | ||
| Q3 24 | 0.05× | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 5.08× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $2.0B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | $-6.3B | $1.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | $4.0B | $1.9B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | $5.3B | $711.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-80.0M | ||
| Q2 25 | — | $-2.0B | ||
| Q1 25 | — | $213.0M | ||
| Q4 24 | — | $-896.0M | ||
| Q3 24 | — | $526.0M | ||
| Q2 24 | — | $-1.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | -17.6% | ||
| Q3 25 | — | -1.3% | ||
| Q2 25 | — | -34.0% | ||
| Q1 25 | — | 3.6% | ||
| Q4 24 | — | -13.5% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | -26.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 46.4% | ||
| Q3 25 | — | 46.9% | ||
| Q2 25 | — | 52.0% | ||
| Q1 25 | — | 44.0% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 43.8% | ||
| Q2 24 | — | 38.4% |
| Q1 26 | — | — | ||
| Q4 25 | 5.08× | 2.93× | ||
| Q3 25 | — | 3.35× | ||
| Q2 25 | -6.26× | 1.93× | ||
| Q1 25 | — | 4.49× | ||
| Q4 24 | 7.12× | 2.87× | ||
| Q3 24 | — | 5.41× | ||
| Q2 24 | 6.88× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
