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Side-by-side financial comparison of Baidu, Inc. (BIDU) and Sea Ltd (SE). Click either name above to swap in a different company.
Sea Ltd is the larger business by last-quarter revenue ($22.9B vs $5.0B, roughly 4.6× Baidu, Inc.). Sea Ltd runs the higher net margin — 7.0% vs 6.0%, a 1.1% gap on every dollar of revenue. On growth, Sea Ltd posted the faster year-over-year revenue change (363.4% vs 14.0%). Over the past eight quarters, Sea Ltd's revenue compounded faster (147.8% 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.
Sea Limited is a tech conglomerate headquartered in Singapore. It is listed on the New York Stock Exchange, with revenue of US$16.8 billion (2024). Sea currently functions as a holding company for Garena, Monee and Shopee, the largest e-commerce platform in Southeast Asia.
BIDU vs SE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.0B | $22.9B |
| Net Profit | $300.0M | $1.6B |
| Gross Margin | 41.0% | 44.7% |
| Operating Margin | 4.1% | 8.7% |
| Net Margin | 6.0% | 7.0% |
| Revenue YoY | 14.0% | 363.4% |
| Net Profit YoY | -47.1% | — |
| EPS (diluted) | $0.53 | $2.52 |
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 | $22.9B | ||
| Q3 25 | $4.4B | $6.0B | ||
| Q2 25 | $4.6B | $5.3B | ||
| Q1 25 | $4.5B | $4.8B | ||
| Q4 24 | $4.4B | $5.0B | ||
| Q3 24 | $4.8B | $4.3B | ||
| Q2 24 | $4.7B | $3.8B | ||
| Q1 24 | $4.4B | $3.7B |
| Q4 25 | $300.0M | $1.6B | ||
| Q3 25 | $-1.6B | $375.0M | ||
| Q2 25 | $1.0B | $414.2M | ||
| Q1 25 | $1.1B | $-7.8M | ||
| Q4 24 | $567.0M | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $768.0M | — | ||
| Q1 24 | $811.0M | $-23.0M |
| Q4 25 | 41.0% | 44.7% | ||
| Q3 25 | 41.2% | 43.4% | ||
| Q2 25 | 43.9% | 45.8% | ||
| Q1 25 | 46.1% | 46.2% | ||
| Q4 24 | 49.9% | — | ||
| Q3 24 | 51.1% | — | ||
| Q2 24 | 51.7% | — | ||
| Q1 24 | 51.5% | 41.6% |
| Q4 25 | 4.1% | 8.7% | ||
| Q3 25 | -48.4% | 8.0% | ||
| Q2 25 | 10.0% | 9.3% | ||
| Q1 25 | 13.9% | 9.4% | ||
| Q4 24 | 11.1% | — | ||
| Q3 24 | 17.6% | — | ||
| Q2 24 | 17.5% | — | ||
| Q1 24 | 17.4% | 1.9% |
| Q4 25 | 6.0% | 7.0% | ||
| Q3 25 | -36.3% | 6.3% | ||
| Q2 25 | 22.2% | 7.9% | ||
| Q1 25 | 24.1% | -0.2% | ||
| Q4 24 | 12.8% | — | ||
| Q3 24 | 23.2% | — | ||
| Q2 24 | 16.4% | — | ||
| Q1 24 | 18.6% | -0.6% |
| Q4 25 | $0.53 | $2.52 | ||
| Q3 25 | $-4.76 | $0.59 | ||
| Q2 25 | $2.84 | $0.65 | ||
| Q1 25 | $2.98 | $0.65 | ||
| Q4 24 | $1.95 | — | ||
| Q3 24 | $3.08 | — | ||
| Q2 24 | — | — | ||
| 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 | $10.6B |
| Total DebtLower is stronger | $5.9B | — |
| Stockholders' EquityBook value | $38.1B | $12.6B |
| Total Assets | $64.2B | $29.4B |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.5B | $10.6B | ||
| Q3 25 | $17.5B | — | ||
| Q2 25 | $17.3B | — | ||
| Q1 25 | $19.5B | — | ||
| Q4 24 | $17.5B | $8.6B | ||
| Q3 24 | $18.9B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $5.9B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $4.9B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $38.1B | $12.6B | ||
| Q3 25 | $38.6B | — | ||
| Q2 25 | $39.8B | — | ||
| Q1 25 | $38.6B | — | ||
| Q4 24 | $36.1B | $8.4B | ||
| Q3 24 | $38.5B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $64.2B | $29.4B | ||
| Q3 25 | $62.4B | — | ||
| Q2 25 | $62.9B | — | ||
| Q1 25 | $62.6B | — | ||
| Q4 24 | $58.6B | $22.6B | ||
| Q3 24 | $59.5B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.16× | — | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.06× | — | ||
| Q1 25 | 0.06× | — | ||
| 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 | $5.0B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 5.08× | 3.12× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $5.0B | ||
| Q3 25 | — | $3.5B | ||
| Q2 25 | $-6.3B | $2.4B | ||
| Q1 25 | — | $756.9M | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | — | $468.5M |
| Q4 25 | 5.08× | 3.12× | ||
| Q3 25 | — | 9.46× | ||
| Q2 25 | -6.26× | 5.73× | ||
| 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% |
SE
Segment breakdown not available.
