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Side-by-side financial comparison of Baidu, Inc. (BIDU) and Ulta Beauty (ULTA). Click either name above to swap in a different company.
Baidu, Inc. is the larger business by last-quarter revenue ($5.0B vs $2.9B, roughly 1.8× Ulta Beauty). Ulta Beauty runs the higher net margin — 8.1% vs 6.0%, a 2.1% gap on every dollar of revenue. On growth, Baidu, Inc. posted the faster year-over-year revenue change (14.0% vs 12.9%). 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.
Ulta Beauty, Inc., formerly known as Ulta Salon, Cosmetics & Fragrance Inc. and before 2000 as Ulta3, is an American chain of cosmetic stores headquartered in Bolingbrook, Illinois. Ulta Beauty carries both high- and low-end cosmetics, fragrances, nail products, bath and body products, beauty tools and haircare products. Each location has a beauty salon available to the public.
BIDU vs ULTA — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.0B | $2.9B |
| Net Profit | $300.0M | $230.9M |
| Gross Margin | 41.0% | 40.4% |
| Operating Margin | 4.1% | 10.8% |
| Net Margin | 6.0% | 8.1% |
| Revenue YoY | 14.0% | 12.9% |
| Net Profit YoY | -47.1% | -4.7% |
| EPS (diluted) | $0.53 | $5.14 |
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 | $2.9B | ||
| Q3 25 | $4.4B | $2.8B | ||
| Q2 25 | $4.6B | $2.8B | ||
| Q1 25 | $4.5B | — | ||
| Q4 24 | $4.4B | $2.5B | ||
| Q3 24 | $4.8B | $2.6B | ||
| Q2 24 | $4.7B | $2.7B | ||
| Q1 24 | $4.4B | $3.6B |
| Q4 25 | $300.0M | $230.9M | ||
| Q3 25 | $-1.6B | $260.9M | ||
| Q2 25 | $1.0B | $305.1M | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $567.0M | $242.2M | ||
| Q3 24 | $1.1B | $252.6M | ||
| Q2 24 | $768.0M | $313.1M | ||
| Q1 24 | $811.0M | $394.4M |
| Q4 25 | 41.0% | 40.4% | ||
| Q3 25 | 41.2% | 39.2% | ||
| Q2 25 | 43.9% | 39.1% | ||
| Q1 25 | 46.1% | — | ||
| Q4 24 | 49.9% | 39.7% | ||
| Q3 24 | 51.1% | 38.3% | ||
| Q2 24 | 51.7% | 39.2% | ||
| Q1 24 | 51.5% | 37.7% |
| Q4 25 | 4.1% | 10.8% | ||
| Q3 25 | -48.4% | 12.4% | ||
| Q2 25 | 10.0% | 14.1% | ||
| Q1 25 | 13.9% | — | ||
| Q4 24 | 11.1% | 12.6% | ||
| Q3 24 | 17.6% | 12.9% | ||
| Q2 24 | 17.5% | 14.7% | ||
| Q1 24 | 17.4% | 14.5% |
| Q4 25 | 6.0% | 8.1% | ||
| Q3 25 | -36.3% | 9.4% | ||
| Q2 25 | 22.2% | 10.7% | ||
| Q1 25 | 24.1% | — | ||
| Q4 24 | 12.8% | 9.6% | ||
| Q3 24 | 23.2% | 9.9% | ||
| Q2 24 | 16.4% | 11.5% | ||
| Q1 24 | 18.6% | 11.1% |
| Q4 25 | $0.53 | $5.14 | ||
| Q3 25 | $-4.76 | $5.78 | ||
| Q2 25 | $2.84 | $6.70 | ||
| Q1 25 | $2.98 | — | ||
| Q4 24 | $1.95 | $5.14 | ||
| Q3 24 | $3.08 | $5.30 | ||
| Q2 24 | — | $6.47 | ||
| Q1 24 | $2.07 | $8.06 |
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 | $204.9M |
| Total DebtLower is stronger | $5.9B | — |
| Stockholders' EquityBook value | $38.1B | $2.6B |
| Total Assets | $64.2B | $7.0B |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.5B | $204.9M | ||
| Q3 25 | $17.5B | $242.7M | ||
| Q2 25 | $17.3B | $454.6M | ||
| Q1 25 | $19.5B | — | ||
| Q4 24 | $17.5B | $177.8M | ||
| Q3 24 | $18.9B | $414.0M | ||
| Q2 24 | — | $524.6M | ||
| Q1 24 | — | $766.6M |
| 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 | $2.6B | ||
| Q3 25 | $38.6B | $2.6B | ||
| Q2 25 | $39.8B | $2.4B | ||
| Q1 25 | $38.6B | — | ||
| Q4 24 | $36.1B | $2.3B | ||
| Q3 24 | $38.5B | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
| Q4 25 | $64.2B | $7.0B | ||
| Q3 25 | $62.4B | $6.6B | ||
| Q2 25 | $62.9B | $6.0B | ||
| Q1 25 | $62.6B | — | ||
| Q4 24 | $58.6B | $6.0B | ||
| Q3 24 | $59.5B | $5.7B | ||
| Q2 24 | — | $5.6B | ||
| Q1 24 | — | $5.7B |
| 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 | $5.6M |
| Free Cash FlowOCF − Capex | — | $-81.6M |
| FCF MarginFCF / Revenue | — | -2.9% |
| Capex IntensityCapex / Revenue | — | 3.1% |
| Cash ConversionOCF / Net Profit | 5.08× | 0.02× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-92.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $5.6M | ||
| Q3 25 | — | $96.5M | ||
| Q2 25 | $-6.3B | $220.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | $4.0B | $-56.8M | ||
| Q3 24 | — | $199.5M | ||
| Q2 24 | $5.3B | $159.3M | ||
| Q1 24 | — | $1.1B |
| Q4 25 | — | $-81.6M | ||
| Q3 25 | — | $19.6M | ||
| Q2 25 | — | $141.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-171.1M | ||
| Q3 24 | — | $104.3M | ||
| Q2 24 | — | $68.3M | ||
| Q1 24 | — | $994.0M |
| Q4 25 | — | -2.9% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 4.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -6.8% | ||
| Q3 24 | — | 4.1% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 28.0% |
| Q4 25 | — | 3.1% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 3.5% |
| Q4 25 | 5.08× | 0.02× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | -6.26× | 0.72× | ||
| Q1 25 | — | — | ||
| Q4 24 | 7.12× | -0.23× | ||
| Q3 24 | — | 0.79× | ||
| Q2 24 | 6.88× | 0.51× | ||
| Q1 24 | — | 2.84× |
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% |
ULTA
Segment breakdown not available.
