Baidu, Inc (89888) Fair Value & Analysis
Communication Services · HK · Market cap HK$299B (≈ $38.1B) · ISIN KYG070341048
What is Baidu, Inc really worth?
Below-average quality, and trading another 185% above our fair value of HK$28.84.
Risks
Fair value as of: Aug 21, 2026
From 17 valuation models · updated 15 days ago
Fair value updated Aug 21, 2026, revised from HK$39.68 to HK$28.84 (−27.3%) since Aug 13, 2026. Share price −14.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (HK$36.05). The favourable scenario is already priced in.
- Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (3 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
39‑month range HK$71.05 – HK$142.60 · fair‑value band HK$28.84 – HK$36.05 · the HK$82.25 price screens above the HK$28.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 21, 2026.
Analysis
Baidu, Inc (89888) currently trades at HK$82.25, while our model-based Fair Value estimate is HK$28.84, implying the stock looks roughly 185.2% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Communication Services sector. Bull case: the Dividend Discount group reads highest at a median of HK$170.07 per share, and 4 of the 17 models we run sit above the HK$82.25 price. Bear case: the Economic Profit group reads lowest at HK$18.76, and 13 of the 17 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Baidu, Inc generated revenue of HK$129B at a net margin of 1.0%. Revenue declined 1.2% year over year. It earns a return on equity of 0.3%. Net debt stands at HK$72.2B. Fundamentals as of Aug 21, 2026
Our scenario range runs from HK$28.84 (bear case) to HK$36.05 (bull case); at HK$82.25, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 43% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at −6% fair-value upside, at −65%, 89888 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$12.05 per share, which is 41.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 17 models by family
Widest divergence: Dividend Discount (HK$170.07) versus Economic Profit (HK$18.76). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 38 · Market factors (momentum, volatility) 34
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Baidu, Inc. provides internet content, value-added telecommunication-based, internet map, and online audio and video services in the People's Republic of China. It operates in two segments, Baidu General Business and iQIYI. The Baidu General Business segment offers products and services for mobile ecosystem, AI cloud, and intelligent driving.
Full company description
Baidu, Inc. provides internet content, value-added telecommunication-based, internet map, and online audio and video services in the People's Republic of China. It operates in two segments, Baidu General Business and iQIYI. The Baidu General Business segment offers products and services for mobile ecosystem, AI cloud, and intelligent driving. This segment operates Baidu App that enables users to access search, feed, content, and other services through mobile devices; and Haokan, which offers a range of various user generated and professionally produced short videos. It also provides a portfolio of knowledge and information products, including Baidu Wiki, which features columns and videos, such as encyclopedia of intangible cultural heritage, digital museum and recorder of history; Baidu Knows, an online community where users can pose questions to other users, such as individuals, professionals, and enterprises; Baidu Experience, an online platform where users share daily knowledge and experience; ERNIE Bot, new AI-native product that serves as a multi-round conversational AI assistant on both PC and mobile; and Baidu Post, a social media that allows users to post text, image, audio and video content, and reply to original curation forming valuable discussion groups, as well as livestreaming services, including live streaming and AI-powered digital human livestreaming. In addition, the company offers DuerOS smart assistant for the Chinese language; Apollo Go autonomous ride-hailing service; online marketing services; Baidu Maps, a voice-enabled mobile app providing users with travel-related services; and AI chips. The iQIYI segment produces and distributes professionally produced content. This segment offers online entertainment video services, including online videos, experience services, online games, comics, and others. The company was incorporated in 2000 and is headquartered in Beijing, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Baidu, Inc reported revenue of HK$126B in FY2025 versus HK$124B in FY2021, a compound +0.2%/yr. Reported net income was HK$5.4B in FY2025, compounding −14.6%/yr from FY2021.
of which total revenue +8.7 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
89888 screens 185% overvalued. Compare with Alphabet Inc →
Peer Group
Internet Content & Information · 153 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Internet Content & Information median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Internet Content & Information stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Alphabet Inc GOOGL | $340.65 | $145.14 | −57% |
| Meta Platforms, Inc META | $571.10 | $534.91 | −6% |
| Tencent Holdings 0700 | HK$455.20 | HK$449.03 | −1% |
| Spotify Technology S.A SPOT | $547.51 | $211.87 | −61% |
| Reddit, Inc RDDT | $153.29 | $39.59 | −74% |
| Kuaishou Technology, an investment holding company, 81024 | HK$34.50 | HK$63.28 | +83% |
| NAVER Corporation 035420 | 213,500 KRW | 231,585 KRW | +8% |
| Tencent Music Entertainment Group 1698 | HK$35.14 | HK$66.77 | +90% |
| REA Group REA | A$177.42 | A$88.53 | −50% |
| Pinterest, Inc PINS | $23.19 | $14.38 | −38% |
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