Baidu vs Spotify Technology
Baidu and Spotify Technology are similar in size: $17.96bn and $19.43bn of revenue in their latest fiscal years. Spotify Technology grew faster (14.6% against -2.9%). Spotify Technology kept more of each dollar of sales as profit: a net margin of 12.9% against 4.3%. Spotify Technology carries less debt relative to equity (0.0% against 18.4%).
| Latest fiscal year | BaiduBIDU, 2025 | Spotify TechnologySPOT, 2025 |
|---|---|---|
| Revenue | $17.96bn | $19.43bn |
| Revenue growth | -2.9% | 14.6% |
| Net income | $778m | $2.50bn |
| Operating margin | -4.5% | 12.8% |
| Net margin | 4.3% | 12.9% |
| Return on equity | 2.1% | 32.3% |
| Free cash flow | −$2.10bn | $3.25bn |
| Cash | $3.52bn | $6.17bn |
| Total debt | $7.00bn | $0 |
| Debt to equity | 18.4% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $770m | $496m |
| Employees | — | — |
| Market value | $26.23bn | $125.94bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | 60 (Moderate) | — |
| Insider trades, 12 months | 0 buys, 1 sales | 0 buys, 72 sales |