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百度（BIDU）与FirstEnergy（FE）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FirstEnergy的1.3倍（$5.0B vs $3.8B），百度净利率更高（6.0% vs -1.3%，领先7.2%），FirstEnergy同比增速更快（19.6% vs 14.0%），过去两年FirstEnergy的营收复合增速更高（7.5% vs 7.5%）
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。
FirstEnergy Corp是总部位于美国俄亥俄州阿克伦市的电力公用事业企业，主营电力供应、电网运营相关业务，于1997年由俄亥俄爱迪生公司与森特里奥尔能源公司合并组建，是美国中西部地区颇具影响力的公共事业服务商。
BIDU vs FE — 直观对比
营收规模更大
BIDU
是对方的1.3倍
$3.8B
营收增速更快
FE
高出5.6%
14.0%
净利率更高
BIDU
高出7.2%
-1.3%
两年增速更快
FE
近两年复合增速
7.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.0B | $3.8B |
| 净利润 | $300.0M | $-49.0M |
| 毛利率 | 41.0% | — |
| 营业利润率 | 4.1% | -0.6% |
| 净利率 | 6.0% | -1.3% |
| 营收同比 | 14.0% | 19.6% |
| 净利润同比 | -47.1% | -118.8% |
| 每股收益（稀释后） | $0.53 | $-0.08 |
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BIDUFE
| Q4 25 | $5.0B | $3.8B | ||
| Q3 25 | $4.4B | $4.1B | ||
| Q2 25 | $4.6B | $3.4B | ||
| Q1 25 | $4.5B | $3.8B | ||
| Q4 24 | $4.4B | $3.2B | ||
| Q3 24 | $4.8B | $3.7B | ||
| Q2 24 | $4.7B | $3.3B | ||
| Q1 24 | $4.4B | $3.3B |
净利润BIDUFE
| Q4 25 | $300.0M | $-49.0M | ||
| Q3 25 | $-1.6B | $441.0M | ||
| Q2 25 | $1.0B | $268.0M | ||
| Q1 25 | $1.1B | $360.0M | ||
| Q4 24 | $567.0M | $261.0M | ||
| Q3 24 | $1.1B | $419.0M | ||
| Q2 24 | $768.0M | $45.0M | ||
| Q1 24 | $811.0M | $253.0M |
毛利率BIDUFE
| 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 24 | 51.5% | — |
营业利润率BIDUFE
| Q4 25 | 4.1% | -0.6% | ||
| Q3 25 | -48.4% | 20.0% | ||
| Q2 25 | 10.0% | 19.1% | ||
| Q1 25 | 13.9% | 20.0% | ||
| Q4 24 | 11.1% | 19.3% | ||
| Q3 24 | 17.6% | 19.5% | ||
| Q2 24 | 17.5% | 12.9% | ||
| Q1 24 | 17.4% | 18.6% |
净利率BIDUFE
| Q4 25 | 6.0% | -1.3% | ||
| Q3 25 | -36.3% | 10.6% | ||
| Q2 25 | 22.2% | 7.9% | ||
| Q1 25 | 24.1% | 9.6% | ||
| Q4 24 | 12.8% | 8.2% | ||
| Q3 24 | 23.2% | 11.2% | ||
| Q2 24 | 16.4% | 1.4% | ||
| Q1 24 | 18.6% | 7.7% |
每股收益（稀释后）BIDUFE
| Q4 25 | $0.53 | $-0.08 | ||
| Q3 25 | $-4.76 | $0.76 | ||
| Q2 25 | $2.84 | $0.46 | ||
| Q1 25 | $2.98 | $0.62 | ||
| Q4 24 | $1.95 | $0.45 | ||
| Q3 24 | $3.08 | $0.73 | ||
| Q2 24 | — | $0.08 | ||
| Q1 24 | $2.07 | $0.44 |
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 | $57.0M |
| 总债务越低越好 | $5.9B | $25.5B |
| 股东权益账面价值 | $38.1B | $12.5B |
| 总资产 | $64.2B | $55.9B |
| 负债/权益比越低杠杆越低 | 0.16× | 2.04× |
8季度趋势，按日历期对齐
现金及短期投资BIDUFE
| Q4 25 | $16.5B | $57.0M | ||
| Q3 25 | $17.5B | $1.4B | ||
| Q2 25 | $17.3B | $569.0M | ||
| Q1 25 | $19.5B | $132.0M | ||
| Q4 24 | $17.5B | $111.0M | ||
| Q3 24 | $18.9B | $439.0M | ||
| Q2 24 | — | $60.0M | ||
| Q1 24 | — | $888.0M |
总债务BIDUFE
| Q4 25 | $5.9B | $25.5B | ||
| Q3 25 | $2.5B | $25.5B | ||
| Q2 25 | $2.4B | $23.7B | ||
| Q1 25 | $2.3B | $21.2B | ||
| Q4 24 | $4.9B | $22.5B | ||
| Q3 24 | $2.1B | $21.6B | ||
| Q2 24 | — | $20.8B | ||
| Q1 24 | — | $21.7B |
股东权益BIDUFE
| Q4 25 | $38.1B | $12.5B | ||
| Q3 25 | $38.6B | $12.8B | ||
| Q2 25 | $39.8B | $12.9B | ||
| Q1 25 | $38.6B | $12.6B | ||
| Q4 24 | $36.1B | $12.5B | ||
| Q3 24 | $38.5B | $12.4B | ||
| Q2 24 | — | $12.5B | ||
| Q1 24 | — | $12.4B |
总资产BIDUFE
| Q4 25 | $64.2B | $55.9B | ||
| Q3 25 | $62.4B | $55.9B | ||
| Q2 25 | $62.9B | $54.2B | ||
| Q1 25 | $62.6B | $52.8B | ||
| Q4 24 | $58.6B | $52.0B | ||
| Q3 24 | $59.5B | $50.8B | ||
| Q2 24 | — | $51.0B | ||
| Q1 24 | — | $51.3B |
负债/权益比BIDUFE
| Q4 25 | 0.16× | 2.04× | ||
| Q3 25 | 0.07× | 1.99× | ||
| Q2 25 | 0.06× | 1.85× | ||
| Q1 25 | 0.06× | 1.69× | ||
| Q4 24 | 0.14× | 1.81× | ||
| Q3 24 | 0.05× | 1.74× | ||
| Q2 24 | — | 1.67× | ||
| Q1 24 | — | 1.75× |
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 | $1.1B |
| 自由现金流经营现金流 - 资本支出 | — | $-30.0M |
| 自由现金流率自由现金流/营收 | — | -0.8% |
| 资本支出强度资本支出/营收 | — | 30.7% |
| 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 | — | $-1.0B |
8季度趋势，按日历期对齐
经营现金流BIDUFE
| Q4 25 | $1.5B | $1.1B | ||
| Q3 25 | — | $845.0M | ||
| Q2 25 | $-6.3B | $1.1B | ||
| Q1 25 | — | $637.0M | ||
| Q4 24 | $4.0B | $1.0B | ||
| Q3 24 | — | $775.0M | ||
| Q2 24 | $5.3B | $1.1B | ||
| Q1 24 | — | $-40.0M |
自由现金流BIDUFE
| Q4 25 | — | $-30.0M | ||
| Q3 25 | — | $-471.0M | ||
| Q2 25 | — | $-136.0M | ||
| Q1 25 | — | $-368.0M | ||
| Q4 24 | — | $-250.0M | ||
| Q3 24 | — | $-229.0M | ||
| Q2 24 | — | $170.0M | ||
| Q1 24 | — | $-830.0M |
自由现金流率BIDUFE
| Q4 25 | — | -0.8% | ||
| Q3 25 | — | -11.4% | ||
| Q2 25 | — | -4.0% | ||
| Q1 25 | — | -9.8% | ||
| Q4 24 | — | -7.9% | ||
| Q3 24 | — | -6.1% | ||
| Q2 24 | — | 5.2% | ||
| Q1 24 | — | -25.3% |
资本支出强度BIDUFE
| Q4 25 | — | 30.7% | ||
| Q3 25 | — | 31.7% | ||
| Q2 25 | — | 36.0% | ||
| Q1 25 | — | 26.7% | ||
| Q4 24 | — | 40.7% | ||
| Q3 24 | — | 26.9% | ||
| Q2 24 | — | 28.7% | ||
| Q1 24 | — | 24.0% |
现金转化率BIDUFE
| Q4 25 | 5.08× | — | ||
| Q3 25 | — | 1.92× | ||
| Q2 25 | -6.26× | 4.04× | ||
| Q1 25 | — | 1.77× | ||
| Q4 24 | 7.12× | 4.00× | ||
| Q3 24 | — | 1.85× | ||
| Q2 24 | 6.88× | 24.71× | ||
| Q1 24 | — | -0.16× |
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% |
FE
| Integrated Segment | $1.4B | 37% |
| Other | $1.4B | 36% |
| Stand Alone Transmission Segment | $466.0M | 12% |
| Industrial Customers | $167.0M | 4% |
| Mid Atlantic Interstate Transmission LLC | $118.0M | 3% |
| Transmission | $105.0M | 3% |
| Transmission Segment | $68.0M | 2% |
| Tr AIL | $63.0M | 2% |
| Internal Customers | $10.0M | 0% |
| Wholesale Sales | $6.0M | 0% |
