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Baidu total debt 2003–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
Baidu's total debt was 112.94B CNY on 30 June 2026, up 23.0% on a year before. At the end of fiscal year 2025 it was 97.08B CNY.
Last updated 12 Nov 2026 · Next report 16 Nov 2026
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Jun 2026 | 112.94B | +22.97% | 166.48B | 53.54B | 0.42 |
| FY2025 | 31 Dec 2025 | 97.08B | +22.38% | 115.27B | 18.19B | 0.36 |
| FY2024 | 31 Dec 2024 | 79.32B | -6.23% | 127.44B | 48.12B | 0.30 |
| FY2023 | 31 Dec 2023 | 84.60B | -7.40% | 193.90B | 109.31B | 0.35 |
| FY2022 | 31 Dec 2022 | 91.35B | -0.17% | 174.00B | 82.64B | 0.41 |
| FY2021 | 31 Dec 2021 | 91.51B | +10.80% | 180.09B | 88.59B | 0.43 |
| FY2020 | 31 Dec 2020 | 82.59B | +12.31% | 162.18B | 79.60B | 0.45 |
| FY2019 | 31 Dec 2019 | 73.53B | +13.30% | 146.37B | 72.83B | 0.45 |
| FY2018 | 31 Dec 2018 | 64.90B | +48.98% | 139.26B | 74.36B | 0.40 |
| FY2017 | 31 Dec 2017 | 43.57B | -1.58% | 118.82B | 75.25B | 0.38 |
| FY2016 | 31 Dec 2016 | 44.27B | +26.22% | 89.84B | 45.58B | 0.48 |
| FY2015 | 31 Dec 2015 | 35.07B | +35.54% | 67.93B | 32.86B | 0.44 |
| FY2014 | 31 Dec 2014 | 25.87B | +46.53% | 56.55B | 30.68B | 0.50 |
| FY2013 | 31 Dec 2013 | 17.66B | +47.88% | 38.43B | 20.77B | 0.46 |
| FY2012 | 31 Dec 2012 | 11.94B | +373.77% | 32.48B | 20.54B | 0.46 |
| FY2011 | 31 Dec 2011 | 2.52B | +2,830.80% | 14.18B | 11.66B | 0.16 |
| FY2010 | 31 Dec 2010 | 86.00M | +1,972.29% | 8.16B | 8.07B | 0.01 |
| FY2009 | 31 Dec 2009 | 4.15M | — | 4.58B | 4.58B | 0.00 |
| FY2008 | 31 Dec 2008 | 0.00 | — | 2.66B | 2.66B | 0.00 |
| FY2007 | 31 Dec 2007 | 0.00 | — | 1.60B | 1.60B | 0.00 |
| FY2006 | 31 Dec 2006 | 0.00 | — | 1.23B | 1.23B | 0.00 |
| FY2005 | 31 Dec 2005 | 0.00 | — | 904.17M | 904.17M | 0.00 |
| FY2004 | 31 Dec 2004 | 0.00 | — | 200.20M | 200.20M | — |
| FY2003 | 31 Dec 2003 | 0.00 | — | 62.82M | 62.82M | — |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | 112.94B | +22.97% | 166.48B | 53.54B | 0.42 |
| Q1 FY2026 | 31 Mar 2026 | 13.63B | -86.65% | 17.01B | 3.38B | 0.35 |
| Q4 FY2025 | 31 Dec 2025 | 97.08B | +22.38% | 115.27B | 18.19B | 0.36 |
| Q3 FY2025 | 30 Sept 2025 | 97.24B | +25.70% | 124.82B | 27.58B | 0.37 |
| Q2 FY2025 | 30 Jun 2025 | 91.84B | +10.92% | 123.87B | 32.02B | 0.33 |
| Q1 FY2025 | 31 Mar 2025 | 102.05B | +14.16% | 141.77B | 39.72B | 0.38 |
| Q4 FY2024 | 31 Dec 2024 | 79.32B | -6.23% | 127.44B | 48.12B | 0.30 |
| Q3 FY2024 | 30 Sept 2024 | 77.36B | -11.59% | 132.81B | 55.46B | 0.30 |
| Q2 FY2024 | 30 Jun 2024 | 82.80B | -9.28% | 150.36B | 67.56B | 0.33 |
| Q1 FY2024 | 31 Mar 2024 | 89.40B | -5.33% | 180.20B | 90.80B | 0.36 |
| Q4 FY2023 | 31 Dec 2023 | 84.60B | -7.40% | 193.90B | 109.31B | 0.35 |
| Q3 FY2023 | 30 Sept 2023 | 87.49B | -8.37% | 191.27B | 103.77B | 0.36 |
| Q2 FY2023 | 30 Jun 2023 | 91.27B | -4.45% | 190.16B | 98.89B | 0.39 |
| Q1 FY2023 | 31 Mar 2023 | 94.43B | +3.11% | 182.77B | 88.34B | 0.41 |
| Q4 FY2022 | 31 Dec 2022 | 91.35B | -0.17% | 174.00B | 82.64B | 0.41 |
| Q3 FY2022 | 30 Sept 2022 | 95.49B | -1.34% | 173.31B | 77.82B | 0.44 |
| Q2 FY2022 | 30 Jun 2022 | 95.51B | +7.08% | 178.29B | 82.77B | 0.44 |
| Q1 FY2022 | 31 Mar 2022 | 91.58B | +10.77% | 180.00B | 88.42B | 0.43 |
| Q4 FY2021 | 31 Dec 2021 | 91.51B | +10.80% | 180.09B | 88.59B | 0.43 |
| Q3 FY2021 | 30 Sept 2021 | 96.78B | +25.03% | 183.83B | 87.05B | 0.46 |
| Q2 FY2021 | 30 Jun 2021 | 89.20B | +15.59% | 169.28B | 80.08B | 0.39 |
| Q1 FY2021 | 31 Mar 2021 | 82.68B | +10.56% | 162.34B | 79.66B | 0.36 |
| Q4 FY2020 | 31 Dec 2020 | 82.59B | +12.31% | 162.18B | 79.60B | 0.45 |
| Q3 FY2020 | 30 Sept 2020 | 77.41B | +2.90% | 145.30B | 67.89B | 0.44 |
| Q2 FY2020 | 30 Jun 2020 | 77.17B | +6.09% | 152.52B | 75.35B | 0.47 |
| Q1 FY2020 | 31 Mar 2020 | 74.78B | +5.42% | 145.68B | 70.89B | 0.46 |
| Q4 FY2019 | 31 Dec 2019 | 73.53B | +13.30% | 146.37B | 72.83B | 0.45 |
| Q3 FY2019 | 30 Sept 2019 | 75.22B | +52.73% | 134.80B | 59.58B | 0.48 |
| Q2 FY2019 | 30 Jun 2019 | 72.74B | +33.99% | 135.09B | 62.35B | 0.44 |
| Q1 FY2019 | 31 Mar 2019 | 70.94B | +40.27% | 141.45B | 70.52B | 0.43 |
| Q4 FY2018 | 31 Dec 2018 | 64.90B | +48.98% | 139.26B | 74.36B | 0.40 |
| Q3 FY2018 | 30 Sept 2018 | 49.25B | -16.23% | 104.49B | 55.24B | 0.31 |
| Q2 FY2018 | 30 Jun 2018 | 54.29B | +4.70% | 127.58B | 73.30B | 0.36 |
| Q1 FY2018 | 31 Mar 2018 | 50.57B | -30.11% | 110.46B | 59.89B | 0.41 |
| Q4 FY2017 | 31 Dec 2017 | 43.57B | -1.58% | 118.82B | 75.25B | 0.38 |
| Q3 FY2017 | 30 Sept 2017 | 58.79B | +48.07% | 129.58B | 70.79B | 0.54 |
| Q2 FY2017 | 30 Jun 2017 | 51.85B | +32.53% | 117.15B | 65.30B | 0.53 |
| Q1 FY2017 | 31 Mar 2017 | 72.36B | +106.99% | 106.74B | 34.38B | 0.77 |
| Q4 FY2016 | 31 Dec 2016 | 44.27B | +26.22% | 89.84B | 45.58B | 0.48 |
| Q3 FY2016 | 30 Sept 2016 | 39.71B | +5.93% | 78.36B | 38.66B | 0.45 |
| Q2 FY2016 | 30 Jun 2016 | 39.13B | +8.82% | 75.81B | 36.69B | 0.46 |
| Q1 FY2016 | 31 Mar 2016 | 34.96B | +35.22% | 71.35B | 36.39B | 0.42 |
| Q4 FY2015 | 31 Dec 2015 | 35.07B | +35.54% | 67.93B | 32.86B | 0.44 |
| Q3 FY2015 | 30 Sept 2015 | 37.48B | +55.14% | 70.14B | 32.66B | 0.67 |
| Q2 FY2015 | 30 Jun 2015 | 35.96B | +47.55% | 74.96B | 39.00B | 0.60 |
| Q1 FY2015 | 31 Mar 2015 | 25.85B | +42.81% | 58.04B | 32.18B | 0.47 |
| Q4 FY2014 | 31 Dec 2014 | 25.87B | +46.53% | 56.55B | 30.68B | 0.50 |
| Q3 FY2014 | 30 Sept 2014 | 24.16B | +35.39% | 51.35B | 27.19B | 0.50 |
| Q2 FY2014 | 30 Jun 2014 | 24.37B | +106.50% | 48.66B | 24.29B | 0.55 |
| Q1 FY2014 | 31 Mar 2014 | 18.10B | +52.17% | 39.68B | 21.57B | 0.45 |
| Q4 FY2013 | 31 Dec 2013 | 17.66B | +47.88% | 38.43B | 20.77B | 0.46 |
| Q3 FY2013 | 30 Sept 2013 | 17.84B | +644.60% | 43.30B | 25.46B | 0.51 |
| Q2 FY2013 | 30 Jun 2013 | 11.80B | +394.27% | 34.07B | 22.27B | 0.38 |
| Q1 FY2013 | 31 Mar 2013 | 11.90B | +402.31% | 33.82B | 21.92B | 0.42 |
| Q4 FY2012 | 31 Dec 2012 | 11.94B | +373.77% | 32.48B | 20.54B | 0.46 |
| Q3 FY2012 | 30 Sept 2012 | 2.40B | — | 21.29B | 18.89B | 0.10 |
| Q2 FY2012 | 30 Jun 2012 | 2.39B | +786.65% | 18.26B | 15.87B | 0.12 |
| Q1 FY2012 | 31 Mar 2012 | 2.37B | +774.12% | 16.12B | 13.75B | 0.14 |
| Q4 FY2011 | 31 Dec 2011 | 2.52B | — | 14.18B | 11.66B | 0.16 |
| Q2 FY2011 | 30 Jun 2011 | 269.27M | +6,388.43% | 10.27B | 10.00B | 0.02 |
| Q1 FY2011 | 31 Mar 2011 | 270.97M | — | 8.64B | 8.37B | 0.03 |
| Q2 FY2010 | 30 Jun 2010 | 4.15M | — | 5.91B | 5.91B | 0.00 |
| Q1 FY2010 | 31 Mar 2010 | 0.00 | — | 4.91B | 4.91B | 0.00 |
| Q4 FY2009 | 31 Dec 2009 | 0.00 | — | 4.59B | 4.59B | 0.00 |
| Q3 FY2009 | 30 Sept 2009 | 0.00 | — | 3.96B | 3.96B | 0.00 |
| Q2 FY2009 | 30 Jun 2009 | 0.00 | — | 3.35B | 3.35B | 0.00 |
| Q1 FY2009 | 31 Mar 2009 | 0.00 | — | 2.77B | 2.77B | 0.00 |
| Q4 FY2008 | 31 Dec 2008 | 0.00 | — | 2.67B | 2.67B | 0.00 |
| Q3 FY2008 | 30 Sept 2008 | 0.00 | — | 2.29B | 2.29B | 0.00 |
| Q2 FY2008 | 30 Jun 2008 | 0.00 | — | 1.92B | 1.92B | 0.00 |
| Q1 FY2008 | 31 Mar 2008 | 0.00 | — | 1.67B | 1.67B | 0.00 |
| Q4 FY2007 | 31 Dec 2007 | 0.00 | — | 1.60B | 1.60B | 0.00 |
| Q3 FY2007 | 30 Sept 2007 | 0.00 | — | 1.43B | 1.43B | 0.00 |
| Q2 FY2007 | 30 Jun 2007 | 0.00 | -100.00% | 1.34B | 1.34B | 0.00 |
| Q1 FY2007 | 31 Mar 2007 | 0.00 | -100.00% | 1.17B | 1.17B | 0.00 |
| Q4 FY2006 | 31 Dec 2006 | 0.00 | — | 1.23B | 1.23B | 0.00 |
| Q3 FY2006 | 30 Sept 2006 | 0.00 | -100.00% | 1.09B | 1.09B | 0.00 |
| Q2 FY2006 | 30 Jun 2006 | 7.00M | — | 1.06B | 1.06B | 0.01 |
| Q1 FY2006 | 31 Mar 2006 | 6.99M | — | 975.31M | 968.32M | 0.01 |
| Q4 FY2005 | 31 Dec 2005 | 0.00 | — | 904.17M | 904.17M | 0.00 |
| Q3 FY2005 | 30 Sept 2005 | 57.38M | — | 966.47M | 909.09M | 0.06 |
| Q2 FY2005 | 30 Jun 2005 | 0.00 | — | 210.70M | 210.70M | 0.00 |
| Q1 FY2005 | 31 Mar 2005 | 0.00 | — | 194.26M | 194.26M | 0.00 |
| Q4 FY2004 | 31 Dec 2004 | 0.00 | — | 200.20M | 200.20M | — |
| Q4 FY2003 | 31 Dec 2003 | 0.00 | — | 62.82M | 62.82M | — |
Figures in CNY at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about Baidu's debt
Source: Financial Modeling Prep