BIDU vs GDS
Baidu, Inc. and GDS Holdings Limited, side by side — 10 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | BIDU | GDS |
|---|---|---|
| Revenue | ¥129.1B | ¥11.4B |
| Net income | ¥5.6B | ¥949.6M |
| Gross margin | 43.9% | 22.6% |
| Net margin | 4.3% | 8.3% |
| Return on equity | 2.1% | 3.9% |
| Diluted EPS | — | — |
| Dividend / share | — | — |
| Payout ratio | — | — |
| Free cash flow | ¥-15.1B | ¥-1.3B |
| Equity | ¥266.3B | ¥25.8B |
| Net debt / equity | 0.07× | 0.45× |
| Current ratio | 1.76× | 2.60× |
| Revenue CAGR 5y | 3.8% | 14.8% |
| Profit CAGR 5y | −24.3% | — |
BIDU bills 11.3× the revenue of GDS, and GDS keeps more of each dollar of revenue as profit (8.3% against 4.3%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | BIDU | GDS |
|---|---|---|
| FY2025 | ¥129.1B | ¥11.4B |
| FY2024 | ¥133.1B | ¥10.3B |
| FY2023 | ¥134.6B | ¥9.8B |
| FY2022 | ¥123.7B | ¥9.3B |
| FY2021 | ¥124.5B | ¥7.8B |
| FY2020 | ¥107.1B | ¥5.7B |
| FY2019 | ¥107.4B | ¥4.1B |
| FY2018 | ¥102.3B | ¥2.8B |
| FY2017 | ¥84.8B | ¥1.6B |
| FY2016 | ¥70.5B | ¥1.1B |
Net income by year
Bottom line
| Fiscal year | BIDU | GDS |
|---|---|---|
| FY2025 | ¥5.6B | ¥949.6M |
| FY2024 | ¥23.8B | ¥3.4B |
| FY2023 | ¥20.3B | ¥-4.3B |
| FY2022 | ¥7.6B | ¥-1.3B |
| FY2021 | ¥10.2B | ¥-1.2B |
| FY2020 | ¥22.5B | ¥-666.4M |
| FY2019 | ¥2.1B | ¥-442.1M |
| FY2018 | ¥27.6B | ¥-430.3M |
| FY2017 | ¥18.3B | ¥-326.9M |
| FY2016 | ¥11.6B | ¥-276.4M |
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