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百度（BIDU）与Cincinnati Financial（CINF）财务数据对比。点击上方公司名可切换其他公司
百度的季度营收约是Cincinnati Financial的1.8倍（$5.0B vs $2.8B），Cincinnati Financial净利率更高（9.6% vs 6.0%，领先3.6%），百度同比增速更快（14.0% vs -1.7%），过去两年百度的营收复合增速更高（7.5% vs 5.2%）
百度是中国头部跨国科技企业，深耕互联网服务与人工智能赛道，在中国搜索引擎市场占据主导地位。旗下拥有百度APP、百度百科、百度贴吧等多元产品矩阵，同时运营视频平台爱奇艺，可为海量用户提供覆盖多场景的优质数字服务。
辛辛那提金融公司主营财产与意外伤害保险，通过旗下辛辛那提保险公司、辛辛那提赔偿公司及辛辛那提意外伤害保险公司运营核心业务。目前该公司在美国国内财险保费市场占比达1.01%，按市场份额计算位列美国第20大保险公司。
BIDU vs CINF — 直观对比
营收规模更大
BIDU
是对方的1.8倍
$2.8B
营收增速更快
BIDU
高出15.7%
-1.7%
净利率更高
CINF
高出3.6%
6.0%
两年增速更快
BIDU
近两年复合增速
5.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.0B | $2.8B |
| 净利润 | $300.0M | $274.0M |
| 毛利率 | 41.0% | — |
| 营业利润率 | 4.1% | — |
| 净利率 | 6.0% | 9.6% |
| 营收同比 | 14.0% | -1.7% |
| 净利润同比 | -47.1% | 404.4% |
| 每股收益（稀释后） | $0.53 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BIDUCINF
| Q1 26 | — | $2.8B | ||
| Q4 25 | $5.0B | $3.1B | ||
| Q3 25 | $4.4B | $3.7B | ||
| Q2 25 | $4.6B | $3.2B | ||
| Q1 25 | $4.5B | $2.6B | ||
| Q4 24 | $4.4B | $2.5B | ||
| Q3 24 | $4.8B | $3.3B | ||
| Q2 24 | $4.7B | $2.5B |
净利润BIDUCINF
| Q1 26 | — | $274.0M | ||
| Q4 25 | $300.0M | $676.0M | ||
| Q3 25 | $-1.6B | $1.1B | ||
| Q2 25 | $1.0B | $685.0M | ||
| Q1 25 | $1.1B | $-90.0M | ||
| Q4 24 | $567.0M | $405.0M | ||
| Q3 24 | $1.1B | $820.0M | ||
| Q2 24 | $768.0M | $312.0M |
毛利率BIDUCINF
| 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% | — |
营业利润率BIDUCINF
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | 27.2% | ||
| Q3 25 | -48.4% | 37.9% | ||
| Q2 25 | 10.0% | 26.3% | ||
| Q1 25 | 13.9% | -5.0% | ||
| Q4 24 | 11.1% | 18.9% | ||
| Q3 24 | 17.6% | 31.3% | ||
| Q2 24 | 17.5% | 15.2% |
净利率BIDUCINF
| Q1 26 | — | 9.6% | ||
| Q4 25 | 6.0% | 21.9% | ||
| Q3 25 | -36.3% | 30.1% | ||
| Q2 25 | 22.2% | 21.1% | ||
| Q1 25 | 24.1% | -3.5% | ||
| Q4 24 | 12.8% | 16.0% | ||
| Q3 24 | 23.2% | 24.7% | ||
| Q2 24 | 16.4% | 12.3% |
每股收益（稀释后）BIDUCINF
| Q1 26 | — | — | ||
| Q4 25 | $0.53 | $4.29 | ||
| Q3 25 | $-4.76 | $7.11 | ||
| Q2 25 | $2.84 | $4.34 | ||
| Q1 25 | $2.98 | $-0.57 | ||
| Q4 24 | $1.95 | $2.57 | ||
| Q3 24 | $3.08 | $5.20 | ||
| Q2 24 | — | $1.98 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $16.5B | $1.2B |
| 总债务越低越好 | $5.9B | $816.0M |
| 股东权益账面价值 | $38.1B | $15.7B |
| 总资产 | $64.2B | $41.2B |
| 负债/权益比越低杠杆越低 | 0.16× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资BIDUCINF
| Q1 26 | — | $1.2B | ||
| Q4 25 | $16.5B | $148.0M | ||
| Q3 25 | $17.5B | $1.6B | ||
| Q2 25 | $17.3B | $1.1B | ||
| Q1 25 | $19.5B | $1.1B | ||
| Q4 24 | $17.5B | $1.3B | ||
| Q3 24 | $18.9B | $1.8B | ||
| Q2 24 | — | $771.0M |
总债务BIDUCINF
| Q1 26 | — | $816.0M | ||
| Q4 25 | $5.9B | $861.0M | ||
| Q3 25 | $2.5B | $858.0M | ||
| Q2 25 | $2.4B | $859.0M | ||
| Q1 25 | $2.3B | $853.0M | ||
| Q4 24 | $4.9B | $850.0M | ||
| Q3 24 | $2.1B | $849.0M | ||
| Q2 24 | — | $849.0M |
股东权益BIDUCINF
| Q1 26 | — | $15.7B | ||
| Q4 25 | $38.1B | $15.9B | ||
| Q3 25 | $38.6B | $15.4B | ||
| Q2 25 | $39.8B | $14.3B | ||
| Q1 25 | $38.6B | $13.7B | ||
| Q4 24 | $36.1B | $13.9B | ||
| Q3 24 | $38.5B | $13.8B | ||
| Q2 24 | — | $12.8B |
总资产BIDUCINF
| Q1 26 | — | $41.2B | ||
| Q4 25 | $64.2B | $41.0B | ||
| Q3 25 | $62.4B | $40.6B | ||
| Q2 25 | $62.9B | $38.8B | ||
| Q1 25 | $62.6B | $37.3B | ||
| Q4 24 | $58.6B | $36.5B | ||
| Q3 24 | $59.5B | $37.0B | ||
| Q2 24 | — | $34.8B |
负债/权益比BIDUCINF
| Q1 26 | — | 0.05× | ||
| Q4 25 | 0.16× | 0.05× | ||
| Q3 25 | 0.07× | 0.06× | ||
| Q2 25 | 0.06× | 0.06× | ||
| Q1 25 | 0.06× | 0.06× | ||
| Q4 24 | 0.14× | 0.06× | ||
| Q3 24 | 0.05× | 0.06× | ||
| Q2 24 | — | 0.07× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.5B | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 5.08× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BIDUCINF
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $947.0M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | $-6.3B | $741.0M | ||
| Q1 25 | — | $310.0M | ||
| Q4 24 | $4.0B | $642.0M | ||
| Q3 24 | — | $912.0M | ||
| Q2 24 | $5.3B | $742.0M |
自由现金流BIDUCINF
| Q1 26 | — | — | ||
| Q4 25 | — | $939.0M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $737.0M | ||
| Q1 25 | — | $307.0M | ||
| Q4 24 | — | $638.0M | ||
| Q3 24 | — | $906.0M | ||
| Q2 24 | — | $737.0M |
自由现金流率BIDUCINF
| Q1 26 | — | — | ||
| Q4 25 | — | 30.4% | ||
| Q3 25 | — | 29.8% | ||
| Q2 25 | — | 22.7% | ||
| Q1 25 | — | 12.0% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | — | 27.3% | ||
| Q2 24 | — | 29.0% |
资本支出强度BIDUCINF
| Q1 26 | — | — | ||
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.2% |
现金转化率BIDUCINF
| Q1 26 | — | — | ||
| Q4 25 | 5.08× | 1.40× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | -6.26× | 1.08× | ||
| Q1 25 | — | — | ||
| Q4 24 | 7.12× | 1.59× | ||
| Q3 24 | — | 1.11× | ||
| Q2 24 | 6.88× | 2.38× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BIDU
| Legacy Business | $1.8B | 35% |
| Baidu Core AI-powered Business | $1.6B | 32% |
| Other | $1.3B | 26% |
| Others | $357.5M | 7% |
CINF
| Property casualty | $2.6B | 93% |
| Life | $105.0M | 4% |
| Other | $92.0M | 3% |
| Fee revenues | $1.0M | 0% |
