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百度（BIDU）与皇家加勒比集团（RCL）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皇家加勒比集团的1.2倍（$5.0B vs $4.3B），皇家加勒比集团净利率更高（17.7% vs 6.0%，领先11.7%），百度同比增速更快（14.0% vs 13.3%），过去两年百度的营收复合增速更高（7.5% vs 6.9%）
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。
皇家加勒比集团前身为皇家加勒比邮轮有限公司，是仅次于嘉年华公司的全球第二大邮轮运营商。集团总部位于美国佛罗里达州迈阿密，在利比里亚注册，目前全资拥有皇家加勒比国际游轮、名人邮轮、银海邮轮三大品牌，还持有途易邮轮50%的股份。
BIDU vs RCL — 直观对比
营收规模更大
BIDU
是对方的1.2倍
$4.3B
营收增速更快
BIDU
高出0.7%
13.3%
净利率更高
RCL
高出11.7%
6.0%
两年增速更快
BIDU
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.0B | $4.3B |
| 净利润 | $300.0M | $753.0M |
| 毛利率 | 41.0% | 47.4% |
| 营业利润率 | 4.1% | 21.9% |
| 净利率 | 6.0% | 17.7% |
| 营收同比 | 14.0% | 13.3% |
| 净利润同比 | -47.1% | 36.4% |
| 每股收益（稀释后） | $0.53 | $2.76 |
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BIDURCL
| Q4 25 | $5.0B | $4.3B | ||
| Q3 25 | $4.4B | $5.1B | ||
| Q2 25 | $4.6B | $4.5B | ||
| Q1 25 | $4.5B | $4.0B | ||
| Q4 24 | $4.4B | $3.8B | ||
| Q3 24 | $4.8B | $4.9B | ||
| Q2 24 | $4.7B | $4.1B | ||
| Q1 24 | $4.4B | $3.7B |
净利润BIDURCL
| Q4 25 | $300.0M | $753.0M | ||
| Q3 25 | $-1.6B | $1.6B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.1B | $730.0M | ||
| Q4 24 | $567.0M | $552.0M | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $768.0M | $854.0M | ||
| Q1 24 | $811.0M | $360.0M |
毛利率BIDURCL
| Q4 25 | 41.0% | 47.4% | ||
| Q3 25 | 41.2% | 51.8% | ||
| Q2 25 | 43.9% | 49.7% | ||
| Q1 25 | 46.1% | 48.0% | ||
| Q4 24 | 49.9% | 45.4% | ||
| Q3 24 | 51.1% | 51.1% | ||
| Q2 24 | 51.7% | 47.6% | ||
| Q1 24 | 51.5% | 44.8% |
营业利润率BIDURCL
| Q4 25 | 4.1% | 21.9% | ||
| Q3 25 | -48.4% | 33.1% | ||
| Q2 25 | 10.0% | 29.3% | ||
| Q1 25 | 13.9% | 23.6% | ||
| Q4 24 | 11.1% | 16.6% | ||
| Q3 24 | 17.6% | 33.4% | ||
| Q2 24 | 17.5% | 26.7% | ||
| Q1 24 | 17.4% | 20.1% |
净利率BIDURCL
| Q4 25 | 6.0% | 17.7% | ||
| Q3 25 | -36.3% | 30.6% | ||
| Q2 25 | 22.2% | 26.7% | ||
| Q1 25 | 24.1% | 18.3% | ||
| Q4 24 | 12.8% | 14.7% | ||
| Q3 24 | 23.2% | 22.7% | ||
| Q2 24 | 16.4% | 20.8% | ||
| Q1 24 | 18.6% | 9.7% |
每股收益（稀释后）BIDURCL
| Q4 25 | $0.53 | $2.76 | ||
| Q3 25 | $-4.76 | $5.74 | ||
| Q2 25 | $2.84 | $4.41 | ||
| Q1 25 | $2.98 | $2.70 | ||
| Q4 24 | $1.95 | $2.27 | ||
| Q3 24 | $3.08 | $4.21 | ||
| Q2 24 | — | $3.11 | ||
| Q1 24 | $2.07 | $1.35 |
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 | $825.0M |
| 总债务越低越好 | $5.9B | $18.2B |
| 股东权益账面价值 | $38.1B | $10.0B |
| 总资产 | $64.2B | $41.6B |
| 负债/权益比越低杠杆越低 | 0.16× | 1.81× |
8季度趋势，按日历期对齐
现金及短期投资BIDURCL
| Q4 25 | $16.5B | $825.0M | ||
| Q3 25 | $17.5B | $432.0M | ||
| Q2 25 | $17.3B | $735.0M | ||
| Q1 25 | $19.5B | $386.0M | ||
| Q4 24 | $17.5B | $388.0M | ||
| Q3 24 | $18.9B | $418.0M | ||
| Q2 24 | — | $391.0M | ||
| Q1 24 | — | $437.0M |
总债务BIDURCL
| Q4 25 | $5.9B | $18.2B | ||
| Q3 25 | $2.5B | $17.2B | ||
| Q2 25 | $2.4B | $17.6B | ||
| Q1 25 | $2.3B | $18.0B | ||
| Q4 24 | $4.9B | $18.5B | ||
| Q3 24 | $2.1B | $19.0B | ||
| Q2 24 | — | $19.8B | ||
| Q1 24 | — | $18.9B |
股东权益BIDURCL
| Q4 25 | $38.1B | $10.0B | ||
| Q3 25 | $38.6B | $10.1B | ||
| Q2 25 | $39.8B | $9.2B | ||
| Q1 25 | $38.6B | $8.0B | ||
| Q4 24 | $36.1B | $7.6B | ||
| Q3 24 | $38.5B | $7.0B | ||
| Q2 24 | — | $6.0B | ||
| Q1 24 | — | $5.2B |
总资产BIDURCL
| Q4 25 | $64.2B | $41.6B | ||
| Q3 25 | $62.4B | $40.1B | ||
| Q2 25 | $62.9B | $38.5B | ||
| Q1 25 | $62.6B | $37.5B | ||
| Q4 24 | $58.6B | $37.1B | ||
| Q3 24 | $59.5B | $37.1B | ||
| Q2 24 | — | $37.0B | ||
| Q1 24 | — | $35.2B |
负债/权益比BIDURCL
| Q4 25 | 0.16× | 1.81× | ||
| Q3 25 | 0.07× | 1.70× | ||
| Q2 25 | 0.06× | 1.92× | ||
| Q1 25 | 0.06× | 2.26× | ||
| Q4 24 | 0.14× | 2.44× | ||
| Q3 24 | 0.05× | 2.69× | ||
| Q2 24 | — | 3.29× | ||
| Q1 24 | — | 3.66× |
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 | $1.6B |
| 自由现金流经营现金流 - 资本支出 | — | $116.0M |
| 自由现金流率自由现金流/营收 | — | 2.7% |
| 资本支出强度资本支出/营收 | — | 35.4% |
| 现金转化率经营现金流/净利润 | 5.08× | 2.16× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流BIDURCL
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $-6.3B | $1.7B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | $4.0B | $1.5B | ||
| Q3 24 | — | $897.0M | ||
| Q2 24 | $5.3B | $1.6B | ||
| Q1 24 | — | $1.3B |
自由现金流BIDURCL
| Q4 25 | — | $116.0M | ||
| Q3 25 | — | $-989.0M | ||
| Q2 25 | — | $910.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $915.0M | ||
| Q3 24 | — | $563.0M | ||
| Q2 24 | — | $-567.0M | ||
| Q1 24 | — | $1.1B |
自由现金流率BIDURCL
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | 20.1% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | -13.8% | ||
| Q1 24 | — | 29.1% |
资本支出强度BIDURCL
| Q4 25 | — | 35.4% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 52.1% | ||
| Q1 24 | — | 6.5% |
现金转化率BIDURCL
| Q4 25 | 5.08× | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | -6.26× | 1.44× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | 7.12× | 2.66× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | 6.88× | 1.84× | ||
| Q1 24 | — | 3.69× |
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% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
