BIDU vs GDS
Baidu, Inc. and GDS Holdings Ltd., side by side — 10 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | BIDU | GDS |
|---|---|---|
| Revenue | CNY 129.1B | CNY 11.4B |
| Net income | CNY 5.6B | CNY 949.6M |
| Gross margin | 43.9% | 22.6% |
| Net margin | 4.2% | 8.4% |
| Return on equity | 2.1% | 3.9% |
| Diluted EPS | · | CNY 0.55 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY -15.1B | CNY -1.3B |
| Equity | CNY 266.3B | CNY 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 (8.4% against 4.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | BIDU | GDS |
|---|---|---|
| FY2025 | CNY 129.1B | CNY 11.4B |
| FY2024 | CNY 133.1B | CNY 10.3B |
| FY2023 | CNY 134.6B | CNY 9.8B |
| FY2022 | CNY 123.7B | CNY 9.3B |
| FY2021 | CNY 124.5B | CNY 7.8B |
| FY2020 | CNY 107.1B | CNY 5.7B |
| FY2019 | CNY 107.4B | CNY 4.1B |
| FY2018 | CNY 102.3B | CNY 2.8B |
| FY2017 | CNY 84.8B | CNY 1.6B |
| FY2016 | CNY 70.5B | CNY 1.1B |
Bottom line
| Fiscal year | BIDU | GDS |
|---|---|---|
| FY2025 | CNY 5.6B | CNY 949.6M |
| FY2024 | CNY 23.8B | CNY 3.4B |
| FY2023 | CNY 20.3B | CNY -4.3B |
| FY2022 | CNY 7.6B | CNY -1.3B |
| FY2021 | CNY 10.2B | CNY -1.2B |
| FY2020 | CNY 22.5B | CNY -666.4M |
| FY2019 | CNY 2.1B | CNY -442.1M |
| FY2018 | CNY 27.6B | CNY -430.3M |
| FY2017 | CNY 18.3B | CNY -326.9M |
| FY2016 | CNY 11.6B | CNY -276.4M |
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 117,646,726,000 | BIDU |
| FY2024 | +CNY 122,802,932,000 | BIDU |
| FY2023 | +CNY 124,815,552,000 | BIDU |
| FY2022 | +CNY 114,406,899,000 | BIDU |
| FY2021 | +CNY 116,674,319,000 | BIDU |
| FY2020 | +CNY 101,335,028,000 | BIDU |
| FY2019 | +CNY 103,290,595,000 | BIDU |
| FY2018 | +CNY 99,484,923,000 | BIDU |
| FY2017 | +CNY 83,192,834,000 | BIDU |
| FY2016 | +CNY 69,493,040,000 | BIDU |
| FY2015 | +CNY 65,678,364,000 | BIDU |
| FY2014 | +CNY 48,583,981,000 | BIDU |
BIDU has reported the higher revenue in every one of these 12 fiscal years. The gap has widened since the earliest year compared.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −4.2 pp | GDS |
| FY2024 | −13.8 pp | GDS |
| FY2023 | +59.8 pp | BIDU |
| FY2022 | +19.8 pp | BIDU |
| FY2021 | +21.3 pp | BIDU |
| FY2020 | +29.4 pp | BIDU |
| FY2019 | +8.6 pp | BIDU |
| FY2018 | +37.5 pp | BIDU |
| FY2017 | +43.1 pp | BIDU |
| FY2016 | +43.6 pp | BIDU |
| FY2015 | +66.5 pp | BIDU |
| FY2014 | +54.7 pp | BIDU |
The higher net margin has changed hands between BIDU and GDS over this period.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
GDS's net margin has been more volatile than BIDU's over the 12 comparable fiscal years — 18.0 percentage points of standard deviation against 13.5.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between BIDU and GDS over these 12 fiscal years — BIDU led in 10 and GDS in 2.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
GDS's return on equity has been more volatile than BIDU's over the 9 comparable fiscal years — 9.5 percentage points of standard deviation against 6.3.
9 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between BIDU and GDS over these 9 fiscal years — BIDU led in 7 and GDS in 2.
9 of 19 comparable fiscal years — a year missing data on either side is not counted.