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Baidu vs Snap: revenue, profit, margins and growth compared

Baidu brought in $18.5B of revenue in fiscal 2025, Snap $5.9B in fiscal 2025. Revenue changed by +1.2% at Baidu and +10.6% at Snap on the year before, so Snap grew faster. Baidu kept 4.3% of its revenue as net profit, Snap -7.8%. Free cash flow was -$2.2B at Baidu and $437.2M at Snap.

Side by side, latest fiscal year

BIDUSNAP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$18.5B$5.9B
Revenue growth+1.2%+10.6%
Net income$799M-$460.5M
Net margin4.3%-7.8%
Free cash flow-$2.2B$437.2M
Free cash flow margin-11.7%7.4%
Earnings per share (diluted)n/a-$0.27
Cash$3.5B$1B
Debt$5.9B$3.5B
Price to earningsn/an/a
Market value$29.7B$9B
Dividend yieldn/an/a
Rank by revenue in sector#40 of 731 · Technology#86 of 731 · Technology

Over the years

Revenue
BIDU FY2018: $14.9BBIDU FY2019: $15.4BBIDU FY2020: $16.4BBIDU FY2021: $19.5BBIDU FY2022: $17.9BBIDU FY2023: $19BBIDU FY2024: $18.2BBIDU FY2025: $18.5BSNAP FY2018: $1.2BSNAP FY2019: $1.7BSNAP FY2020: $2.5BSNAP FY2021: $4.1BSNAP FY2022: $4.6BSNAP FY2023: $4.6BSNAP FY2024: $5.4BSNAP FY2025: $5.9BFY18FY19FY20FY21FY22FY23FY24FY25
BIDU $18.5BSNAP $5.9B
Net income
BIDU FY2018: $4BBIDU FY2019: $296MBIDU FY2020: $3.4BBIDU FY2021: $1.6BBIDU FY2022: $1.1BBIDU FY2023: $2.9BBIDU FY2024: $3.3BBIDU FY2025: $799MSNAP FY2018: -$1.3BSNAP FY2019: -$1BSNAP FY2020: -$944.8MSNAP FY2021: -$488MSNAP FY2022: -$1.4BSNAP FY2023: -$1.3BSNAP FY2024: -$697.9MSNAP FY2025: -$460.5MFY18FY19FY20FY21FY22FY23FY24FY25
BIDU $799MSNAP -$460.5M
Net margin
BIDU FY2018: 27.0%BIDU FY2019: 1.9%BIDU FY2020: 21.0%BIDU FY2021: 8.2%BIDU FY2022: 6.1%BIDU FY2023: 15.1%BIDU FY2024: 17.8%BIDU FY2025: 4.3%SNAP FY2018: -106.4%SNAP FY2019: -60.3%SNAP FY2020: -37.7%SNAP FY2021: -11.9%SNAP FY2022: -31.1%SNAP FY2023: -28.7%SNAP FY2024: -13.0%SNAP FY2025: -7.8%FY18FY19FY20FY21FY22FY23FY24FY25
BIDU 4.3%SNAP -7.8%
Revenue growth
BIDU FY2019: +3.7%BIDU FY2020: +6.4%BIDU FY2021: +19.0%BIDU FY2022: -8.2%BIDU FY2023: +5.7%BIDU FY2024: -3.8%BIDU FY2025: +1.2%SNAP FY2019: +45.3%SNAP FY2020: +46.1%SNAP FY2021: +64.2%SNAP FY2022: +11.8%SNAP FY2023: +0.1%SNAP FY2024: +16.4%SNAP FY2025: +10.6%FY19FY20FY21FY22FY23FY24FY25
BIDU +1.2%SNAP +10.6%
Free cash flow
BIDU FY2018: $4BBIDU FY2019: $3.2BBIDU FY2020: $2.9BBIDU FY2021: $1.4BBIDU FY2022: $2.6BBIDU FY2023: $3.6BBIDU FY2024: $1.8BBIDU FY2025: -$2.2BSNAP FY2018: -$810.2MSNAP FY2019: -$341.4MSNAP FY2020: -$225.5MSNAP FY2021: $223MSNAP FY2022: $55.3MSNAP FY2023: $34.8MSNAP FY2024: $218.7MSNAP FY2025: $437.2MFY18FY19FY20FY21FY22FY23FY24FY25
BIDU -$2.2BSNAP $437.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Baidu and Snap

Which is bigger by revenue, Baidu or Snap?

Baidu is bigger by revenue: $18.5B in fiscal 2025, against $5.9B for Snap in fiscal 2025.

Which keeps more of its revenue as profit, Baidu or Snap?

Baidu had a net margin of 4.3% in fiscal 2025; Snap had -7.8% in fiscal 2025.

Which grew revenue faster, Baidu or Snap?

In their latest fiscal years revenue changed by +1.2% at Baidu and +10.6% at Snap.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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