vs
百度（BIDU）与诺斯罗普·格鲁曼（NOC）财务数据对比。点击上方公司名可切换其他公司
诺斯罗普·格鲁曼的季度营收约是百度的2.0倍（$9.9B vs $5.0B），诺斯罗普·格鲁曼净利率更高（8.9% vs 6.0%，领先2.9%），百度同比增速更快（14.0% vs 4.4%），过去两年百度的营收复合增速更高（7.5% vs -1.7%）
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。
诺斯罗普·格鲁曼是总部位于美国弗吉尼亚州西福尔斯彻奇的航空航天及防务企业，研发制造航空、防务、任务系统、航天领域的相关产品与系统，是美国联邦政府第五大承包商，获得的订单金额占美国联邦政府面向承包商总支出的2%以上。
BIDU vs NOC — 直观对比
营收规模更大
NOC
是对方的2.0倍
$5.0B
营收增速更快
BIDU
高出9.6%
4.4%
净利率更高
NOC
高出2.9%
6.0%
两年增速更快
BIDU
近两年复合增速
-1.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.0B | $9.9B |
| 净利润 | $300.0M | $875.0M |
| 毛利率 | 41.0% | — |
| 营业利润率 | 4.1% | 1.9% |
| 净利率 | 6.0% | 8.9% |
| 营收同比 | 14.0% | 4.4% |
| 净利润同比 | -47.1% | 81.9% |
| 每股收益（稀释后） | $0.53 | $6.14 |
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BIDUNOC
| Q1 26 | — | $9.9B | ||
| Q4 25 | $5.0B | $11.7B | ||
| Q3 25 | $4.4B | $10.4B | ||
| Q2 25 | $4.6B | $10.4B | ||
| Q1 25 | $4.5B | $9.5B | ||
| Q4 24 | $4.4B | $10.7B | ||
| Q3 24 | $4.8B | $10.0B | ||
| Q2 24 | $4.7B | $10.2B |
净利润BIDUNOC
| Q1 26 | — | $875.0M | ||
| Q4 25 | $300.0M | $1.4B | ||
| Q3 25 | $-1.6B | $1.1B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.1B | $481.0M | ||
| Q4 24 | $567.0M | $1.3B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $768.0M | $940.0M |
毛利率BIDUNOC
| 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BIDUNOC
| Q1 26 | — | 1.9% | ||
| Q4 25 | 4.1% | 10.9% | ||
| Q3 25 | -48.4% | 11.9% | ||
| Q2 25 | 10.0% | 13.8% | ||
| Q1 25 | 13.9% | 6.1% | ||
| Q4 24 | 11.1% | 10.2% | ||
| Q3 24 | 17.6% | 11.2% | ||
| Q2 24 | 17.5% | 10.7% |
净利率BIDUNOC
| Q1 26 | — | 8.9% | ||
| Q4 25 | 6.0% | 12.2% | ||
| Q3 25 | -36.3% | 10.6% | ||
| Q2 25 | 22.2% | 11.3% | ||
| Q1 25 | 24.1% | 5.1% | ||
| Q4 24 | 12.8% | 11.8% | ||
| Q3 24 | 23.2% | 10.3% | ||
| Q2 24 | 16.4% | 9.2% |
每股收益（稀释后）BIDUNOC
| Q1 26 | — | $6.14 | ||
| Q4 25 | $0.53 | $9.94 | ||
| Q3 25 | $-4.76 | $7.67 | ||
| Q2 25 | $2.84 | $8.15 | ||
| Q1 25 | $2.98 | $3.32 | ||
| Q4 24 | $1.95 | $8.66 | ||
| Q3 24 | $3.08 | $7.00 | ||
| Q2 24 | — | $6.36 |
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 | $2.1B |
| 总债务越低越好 | $5.9B | — |
| 股东权益账面价值 | $38.1B | $17.1B |
| 总资产 | $64.2B | $50.0B |
| 负债/权益比越低杠杆越低 | 0.16× | — |
8季度趋势，按日历期对齐
现金及短期投资BIDUNOC
| Q1 26 | — | $2.1B | ||
| Q4 25 | $16.5B | $4.4B | ||
| Q3 25 | $17.5B | $2.0B | ||
| Q2 25 | $17.3B | $1.9B | ||
| Q1 25 | $19.5B | $1.7B | ||
| Q4 24 | $17.5B | $4.4B | ||
| Q3 24 | $18.9B | $3.3B | ||
| Q2 24 | — | $3.3B |
总债务BIDUNOC
| Q1 26 | — | — | ||
| Q4 25 | $5.9B | $15.2B | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $4.9B | $14.7B | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | — | — |
股东权益BIDUNOC
| Q1 26 | — | $17.1B | ||
| Q4 25 | $38.1B | $16.7B | ||
| Q3 25 | $38.6B | $16.0B | ||
| Q2 25 | $39.8B | $15.5B | ||
| Q1 25 | $38.6B | $15.0B | ||
| Q4 24 | $36.1B | $15.3B | ||
| Q3 24 | $38.5B | $14.7B | ||
| Q2 24 | — | $14.3B |
总资产BIDUNOC
| Q1 26 | — | $50.0B | ||
| Q4 25 | $64.2B | $51.4B | ||
| Q3 25 | $62.4B | $49.3B | ||
| Q2 25 | $62.9B | $49.5B | ||
| Q1 25 | $62.6B | $48.5B | ||
| Q4 24 | $58.6B | $49.4B | ||
| Q3 24 | $59.5B | $48.3B | ||
| Q2 24 | — | $47.7B |
负债/权益比BIDUNOC
| Q1 26 | — | — | ||
| Q4 25 | 0.16× | 0.91× | ||
| Q3 25 | 0.07× | — | ||
| Q2 25 | 0.06× | — | ||
| Q1 25 | 0.06× | — | ||
| Q4 24 | 0.14× | 0.96× | ||
| Q3 24 | 0.05× | — | ||
| Q2 24 | — | — |
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 | $-1.7B |
| 自由现金流经营现金流 - 资本支出 | — | $-1.8B |
| 自由现金流率自由现金流/营收 | — | -18.4% |
| 资本支出强度资本支出/营收 | — | 1.7% |
| 现金转化率经营现金流/净利润 | 5.08× | -1.89× |
| 过去12个月自由现金流最近4个季度 | — | $3.3B |
8季度趋势，按日历期对齐
经营现金流BIDUNOC
| Q1 26 | — | $-1.7B | ||
| Q4 25 | $1.5B | $3.9B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | $-6.3B | $868.0M | ||
| Q1 25 | — | $-1.6B | ||
| Q4 24 | $4.0B | $2.6B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | $5.3B | $1.4B |
自由现金流BIDUNOC
| Q1 26 | — | $-1.8B | ||
| Q4 25 | — | $3.2B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $637.0M | ||
| Q1 25 | — | $-1.8B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $730.0M | ||
| Q2 24 | — | $1.1B |
自由现金流率BIDUNOC
| Q1 26 | — | -18.4% | ||
| Q4 25 | — | 27.6% | ||
| Q3 25 | — | 12.1% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | -19.2% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | — | 7.3% | ||
| Q2 24 | — | 10.8% |
资本支出强度BIDUNOC
| Q1 26 | — | 1.7% | ||
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | — | 7.6% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 3.1% |
现金转化率BIDUNOC
| Q1 26 | — | -1.89× | ||
| Q4 25 | 5.08× | 2.73× | ||
| Q3 25 | — | 1.42× | ||
| Q2 25 | -6.26× | 0.74× | ||
| Q1 25 | — | -3.25× | ||
| Q4 24 | 7.12× | 2.04× | ||
| Q3 24 | — | 1.06× | ||
| Q2 24 | 6.88× | 1.52× |
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% |
NOC
| Aeronautics Systems | $3.3B | 33% |
| Mission Systems | $2.9B | 29% |
| Space Systems | $2.5B | 25% |
| Other | $1.3B | 13% |
