NASDAQ · Communication Services

Baidu, Inc.

BIDU · Internet Content & Information

$127.84

▲ 1.97 (1.57%)

Data cached · refreshes every 10 min

Mr. Market is currently offering Baidu, Inc. at $127.84.

The business passes only 3 of 7 of Graham's defensive criteria — well below his required standard.

Overall Grade

Defensive

Enterprising

Profitability C

Gross Profit Margin 43.9%

Operating Margin 8.0%

Net Income Margin 4.3%

Fin. Health B

Years to Pay Off Debt 17.4 yrs

Working Capital vs Long-Term Debt $4.5B

Working Capital $65.6B

Valuation A

Margin of Safety 74.8%

Price-to-Book 0.13x

Cash Flow F

Free Cash Flow -$16.4B

CapEx % of Net Income 240.1%

Owner Earnings $40.4B

3/7

Graham Score

Speculative

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Market Data

Market Cap $43.5B

Enterprise Value $347.9B

P/E (TTM) 74.33

Dividend Yield N/A

Exchange NASDAQ

Key Margins

Gross Profit 43.9%

Operating Margin 8.0%

Net Margin 4.3%

Company Info

Sector Communication Services

Industry Internet Content & Information

Employees 33500

Country China

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Baidu, Inc. at $127.84.

The business passes only 3 of 7 of Graham's defensive criteria — well below his required standard.

At $127.84, the stock trades below its Graham Number of $506.45 — suggesting a margin of safety exists.

The margin of safety of 74.8% exceeds Graham's recommended 33% threshold — a rare opportunity.

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign..

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

About Baidu, Inc.

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.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022
Gross Profit %	43.9% ▼	50.3%	51.7%	48.3%
Operating Margin %	8.0% ▼	16.0%	16.2%	12.9%
Net Income %	4.3% ▼	17.8%	15.1%	6.1%
Diluted EPS	11.76 ▼	65.92	55.12	19.84

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$449.2B	$427.8B	$406.8B	$391.0B	N/A
Total Debt	$97.1B ↑	$79.3B	$84.6B	$91.4B	N/A
Working Capital	$65.6B ▼	$87.9B	$153.8B	$133.2B	N/A
Years to Pay Debt	17.37	3.34	4.16	12.09	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	-$16.4B ▼	$13.0B	$25.3B	$17.8B	N/A
Owner Earnings	$40.4B	$52.5B	$53.1B	$36.0B	N/A
CapEx % of Net Income	240.1%	34.8%	55.6%	111.0%	N/A

Income Statement

	2025	2024	2023	2022
Tax Effect Of Unusual Items	-3,446,784	166,780	86,275	-378,420
Tax Rate For Calcs	0	0	0	0
Normalized EBITDA	49,283,000	50,891,000	49,308,000	34,593,000
Total Unusual Items	-18,432,000	1,076,000	595,000	-1,484,000
Total Unusual Items Excluding Goodwill	-18,432,000	1,076,000	595,000	-1,484,000
Net Income From Continuing Operation Net Minority Interest	5,589,000	23,760,000	20,315,000	7,559,000
Reconciled Depreciation	21,351,000	20,521,000	21,457,000	20,084,000
Reconciled Cost Of Revenue	72,436,000	66,102,000	65,031,000	63,935,000
EBITDA	30,851,000	51,967,000	49,903,000	33,109,000
EBIT	9,500,000	31,446,000	28,446,000	13,025,000
Net Interest Income	5,818,000	5,138,000	4,761,000	3,332,000
Interest Expense	2,784,000	2,824,000	3,248,000	2,913,000
Interest Income	8,602,000	7,962,000	8,009,000	6,245,000
Normalized Income	20,574,216	22,850,780	19,806,275	8,664,580
Net Income From Continuing And Discontinued Operation	5,589,000	23,760,000	20,315,000	7,559,000
Total Expenses	118,712,000	111,855,000	112,742,000	107,764,000
Total Operating Income As Reported	-5,823,000	21,270,000	21,856,000	15,911,000
Diluted Average Shares	343,000	349,750	354,625	351,125
Basic Average Shares	340,750	348,750	350,875	347,750
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	4,043,000	23,067,000	19,554,000	6,968,000
Average Dilution Earnings	-620,000	-105,000	-44,000	0
Net Income Common Stockholders	4,663,000	23,172,000	19,598,000	6,968,000
Otherunder Preferred Stock Dividend	926,000	588,000	717,000	591,000
Net Income	5,589,000	23,760,000	20,315,000	7,559,000
Minority Interests	132,000	-415,000	-1,234,000	25,000
Net Income Including Noncontrolling Interests	5,457,000	24,175,000	21,549,000	7,534,000
Net Income Continuous Operations	5,457,000	24,175,000	21,549,000	7,534,000
Tax Provision	1,259,000	4,447,000	3,649,000	2,578,000
Pretax Income	6,716,000	28,622,000	25,198,000	10,112,000
Other Income Expense	-9,469,000	2,214,000	-1,419,000	-9,131,000
Other Non Operating Income Expenses	5,767,000	1,829,000	1,785,000	-5,737,000
Special Income Charges	-16,190,000	0	0
Impairment Of Capital Assets	16,190,000	0	0
Earnings From Equity Interest	3,196,000	-691,000	-3,799,000	-1,910,000
Gain On Sale Of Security	-2,242,000	1,076,000	595,000	-1,484,000
Net Non Operating Interest Income Expense	5,818,000	5,138,000	4,761,000	3,332,000
Interest Expense Non Operating	2,784,000	2,824,000	3,248,000	2,913,000
Interest Income Non Operating	8,602,000	7,962,000	8,009,000	6,245,000
Operating Income	10,367,000	21,270,000	21,856,000	15,911,000
Operating Expense	46,276,000	45,753,000	47,711,000	43,829,000
Research And Development	20,433,000	22,133,000	24,192,000	23,315,000
Selling General And Administration	25,843,000	23,620,000	23,519,000	20,514,000
Gross Profit	56,643,000	67,023,000	69,567,000	59,740,000
Cost Of Revenue	72,436,000	66,102,000	65,031,000	63,935,000
Total Revenue	129,079,000	133,125,000	134,598,000	123,675,000
Operating Revenue	129,079,000	133,125,000	134,598,000	74,711,000

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number	125,568	41,183	41,183	49,409
Ordinary Shares Number	2,722,014	2,763,575	2,805,191	2,796,585
Share Issued	2,847,582	2,804,757	2,846,374	2,845,994
Net Debt	64,906,000	46,216,000	51,216,000	30,579,000
Total Debt	97,077,000	79,324,000	84,595,000	91,354,000
Tangible Book Value	205,119,000	218,637,000	199,815,000	179,904,000
Invested Capital	355,842,000	334,668,000	320,073,000	307,213,000
Working Capital	65,642,000	87,896,000	153,804,000	133,220,000
Net Tangible Assets	205,119,000	218,637,000	199,815,000	179,904,000
Capital Lease Obligations	7,565,000	8,276,000	8,148,000	7,619,000
Common Stock Equity	266,330,000	263,620,000	243,626,000	223,478,000
Total Capitalization	327,432,000	315,563,000	300,983,000	286,661,000
Total Equity Gross Minority Interest	289,726,000	283,612,000	262,608,000	237,805,000
Minority Interest	23,396,000	19,992,000	18,982,000	14,327,000
Stockholders Equity	266,330,000	263,620,000	243,626,000	223,478,000
Gains Losses Not Affecting Retained Earnings	-1,650,000	-1,803,000	-895,000	546,000
Treasury Stock	4,693,000	6,236,000	3,818,000	5,264,000
Retained Earnings	177,694,000	180,073,000	161,240,000	148,341,000
Additional Paid In Capital	94,979,000	91,586,000	87,099,000	79,855,000
Total Liabilities Net Minority Interest	159,431,000	144,168,000	144,151,000	153,168,000
Total Non Current Liabilities Net Minority Interest	73,103,000	63,215,000	67,700,000	73,538,000
Other Non Current Liabilities	1,951,000	1,557,000	1,820,000	2,058,000
Preferred Securities Outside Stock Equity					7,148,000
Dueto Related Parties Non Current	36,000	56,000	77,000	99,000
Non Current Deferred Liabilities	5,906,000	4,686,000	3,406,000	3,388,000
Non Current Deferred Revenue	921,000	816,000	681,000	490,000
Non Current Deferred Taxes Liabilities	4,985,000	3,870,000	2,725,000	2,898,000
Long Term Debt And Capital Lease Obligation	65,210,000	56,916,000	62,397,000	67,993,000
Long Term Capital Lease Obligation	4,108,000	4,973,000	5,040,000	4,810,000
Long Term Debt	61,102,000	51,943,000	57,357,000	63,183,000
Current Liabilities	86,328,000	80,953,000	76,451,000	79,630,000
Current Deferred Liabilities	13,582,000	15,308,000	16,326,000	14,347,000
Current Deferred Revenue	13,582,000	15,308,000	16,326,000	14,347,000
Current Debt And Capital Lease Obligation	31,867,000	22,408,000	22,198,000	23,361,000
Current Capital Lease Obligation	3,457,000	3,303,000	3,108,000	2,809,000
Current Debt	28,410,000	19,105,000	19,090,000	20,552,000
Other Current Borrowings	28,410,000	19,105,000	19,090,000	20,552,000
Payables And Accrued Expenses	40,879,000	43,237,000	37,927,000	41,922,000
Current Accrued Expenses	34,764,000	33,263,000	30,119,000	30,184,000
Interest Payable		335,000	347,000	452,000	538,000
Payables	6,115,000	9,974,000	7,808,000	11,738,000
Other Payable	1,500,000	4,653,000	3,518,000	3,031,000
Dueto Related Parties Current	1,988,000	1,794,000	1,603,000	5,067,000
Total Tax Payable	2,627,000	3,527,000	2,687,000	3,640,000
Total Assets	449,157,000	427,780,000	406,759,000	390,973,000
Total Non Current Assets	297,187,000	258,931,000	176,504,000	178,123,000
Other Non Current Assets	27,556,000	16,815,000	5,766,000	2,839,000
Non Current Prepaid Assets	0	13,547,000	13,198,000	16,257,000
Non Current Deferred Assets	4,582,000	2,193,000	2,100,000	2,129,000
Non Current Deferred Taxes Assets	4,582,000	2,193,000	2,100,000	2,129,000
Duefrom Related Parties Non Current	167,000	137,000	195,000	60,000
Non Current Accounts Receivable	167,000	137,000	195,000	60,000
Investments And Advances	168,780,000	140,256,000	72,623,000	78,926,000
Investmentin Financial Assets	144,199,000	118,358,000	46,993,000	48,370,000
Available For Sale Securities	144,199,000	118,358,000	46,993,000	48,370,000
Long Term Equity Investment	24,581,000	21,898,000	25,630,000	30,556,000
Investments In Other Ventures Under Equity Method	24,581,000	21,898,000	25,630,000	30,556,000
Goodwill And Other Intangible Assets	61,211,000	44,983,000	43,811,000	43,574,000
Other Intangible Assets	24,428,000	22,397,000	21,225,000	21,097,000
Goodwill	36,783,000	22,586,000	22,586,000	22,477,000
Net PPE	34,891,000	41,000,000	38,811,000	34,338,000
Accumulated Depreciation	-51,104,000	-38,977,000	-35,899,000	-32,287,000
Gross PPE	85,995,000	79,977,000	74,710,000	66,625,000
Leases	505,000	549,000	540,000	490,000
Construction In Progress	563,000	621,000	285,000	291,000
Other Properties	8,610,000	10,898,000	10,851,000	10,365,000
Machinery Furniture Equipment	66,526,000	58,378,000	53,671,000	46,159,000
Buildings And Improvements	9,791,000	9,531,000	9,363,000	9,320,000
Current Assets	151,970,000	168,849,000	230,255,000	212,850,000
Other Current Assets	5,102,000	4,133,000	3,112,000	1,615,000
Restricted Cash	225,000	11,697,000	11,503,000	11,330,000
Prepaid Assets	8,395,000	5,310,000	3,723,000	3,548,000
Inventory	6,200,000	5,989,000	1,396,000	1,227,000
Receivables	16,781,000	14,280,000	16,620,000	21,135,000
Other Receivables	3,048,000	3,386,000	4,348,000	3,970,000
Duefrom Related Parties Current	761,000	790,000	1,424,000	5,432,000
Accounts Receivable	12,972,000	10,104,000	10,848,000	11,733,000
Allowance For Doubtful Accounts Receivable	-5,001,000	-3,517,000	-3,176,000	-2,554,000
Gross Accounts Receivable	17,973,000	13,621,000	14,024,000	14,287,000
Cash Cash Equivalents And Short Term Investments	115,267,000	127,440,000	193,901,000	173,995,000
Other Short Term Investments	90,661,000	102,608,000	168,670,000	120,839,000
Cash And Cash Equivalents	24,606,000	24,832,000	25,231,000	53,156,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	-16,430,000	12,975,000	25,320,000	17,777,000
Repurchase Of Capital Stock	-5,536,000	-6,324,000	-4,764,000	-1,925,000
Repayment Of Debt	-26,351,000	-31,111,000	-33,566,000	-16,535,000
Issuance Of Debt	46,644,000	23,574,000	20,473,000	9,722,000
Issuance Of Capital Stock			0	0	19,873,000
Capital Expenditure	-13,417,000	-8,259,000	-11,295,000	-8,393,000
Interest Paid Supplemental Data	2,007,000	2,237,000	2,764,000	2,690,000
Income Tax Paid Supplemental Data	3,254,000	3,684,000	3,666,000	3,525,000
End Cash Position	24,831,000	36,589,000	37,574,000	65,236,000
Beginning Cash Position	36,589,000	37,574,000	65,236,000	47,671,000
Effect Of Exchange Rate Changes	-751,000	95,000	282,000	1,729,000
Changes In Cash	-11,007,000	-1,080,000	-27,944,000	15,836,000
Financing Cash Flow	17,142,000	-13,759,000	-14,162,000	-6,390,000
Cash Flow From Continuing Financing Activities	17,142,000	-13,759,000	-14,162,000	-6,390,000
Net Other Financing Charges	2,292,000	55,000	3,592,000	2,148,000
Proceeds From Stock Option Exercised	93,000	47,000	103,000	200,000
Net Common Stock Issuance	-5,536,000	-6,324,000	-4,764,000	-1,925,000
Common Stock Payments	-5,536,000	-6,324,000	-4,764,000	-1,925,000
Common Stock Issuance			0	0	19,873,000
Net Issuance Payments Of Debt	20,293,000	-7,537,000	-13,093,000	-6,813,000
Net Short Term Debt Issuance	-3,039,000	415,000	4,902,000	1,189,000
Short Term Debt Payments	-15,035,000	-22,039,000	-11,026,000	-5,084,000
Short Term Debt Issuance	11,996,000	22,454,000	15,928,000	6,273,000
Net Long Term Debt Issuance	23,332,000	-7,952,000	-17,995,000	-8,002,000
Long Term Debt Payments	-11,316,000	-9,072,000	-22,540,000	-11,451,000
Long Term Debt Issuance	34,648,000	1,120,000	4,545,000	3,449,000
Investing Cash Flow	-25,136,000	-8,555,000	-50,397,000	-3,944,000
Cash Flow From Continuing Investing Activities	-25,136,000	-8,555,000	-50,397,000	-3,944,000
Net Other Investing Changes	-806,000	-2,366,000	2,577,000	-761,000
Net Investment Purchase And Sale	-13,044,000	-6,368,000	-46,961,000	6,598,000
Sale Of Investment	302,488,000	298,554,000	155,032,000	188,119,000
Purchase Of Investment	-315,532,000	-304,922,000	-201,993,000	-181,521,000
Net Business Purchase And Sale	2,131,000	8,438,000	5,282,000	-1,388,000
Sale Of Business	3,965,000	9,233,000	6,884,000	2,254,000
Purchase Of Business	-1,834,000	-795,000	-1,602,000	-3,642,000
Net Intangibles Purchase And Sale	-1,344,000	-125,000	-105,000	-107,000
Purchase Of Intangibles	-1,344,000	-125,000	-105,000	-107,000
Net PPE Purchase And Sale	-12,073,000	-8,134,000	-11,190,000	-8,286,000
Purchase Of PPE	-12,073,000	-8,134,000	-11,190,000	-8,286,000
Operating Cash Flow	-3,013,000	21,234,000	36,615,000	26,170,000
Cash Flow From Continuing Operating Activities	-3,013,000	21,234,000	36,615,000	26,170,000
Change In Working Capital	-42,048,000	-27,512,000	-13,067,000	-16,758,000
Change In Other Working Capital	-1,874,000	513,000	1,918,000	-444,000
Change In Other Current Assets	-33,984,000	-30,522,000	-14,000,000	-12,570,000
Change In Payables And Accrued Expense	-1,687,000	2,390,000	-1,005,000	-1,639,000
Change In Payable	-1,687,000	2,390,000	-1,005,000	-1,639,000
Change In Account Payable	-1,844,000	2,298,000	-858,000	-1,450,000
Change In Receivables	-4,503,000	107,000	20,000	-2,105,000
Changes In Account Receivables	-4,509,000	327,000	216,000	-2,369,000
Other Non Cash Items	1,893,000	-1,549,000	-950,000	-132,000
Stock Based Compensation	3,605,000	4,784,000	6,345,000	6,788,000
Provisionand Write Offof Assets	1,984,000	1,074,000	693,000	701,000
Asset Impairment Charge	16,678,000	630,000	910,000	3,058,000
Deferred Tax	-1,271,000	1,040,000	-163,000	-99,000
Deferred Income Tax	-1,271,000	1,040,000	-163,000	-99,000
Depreciation Amortization Depletion	21,351,000	20,521,000	21,457,000	20,084,000
Depreciation And Amortization	21,351,000	20,521,000	21,457,000	20,084,000
Amortization Cash Flow	13,605,000	13,677,000	14,067,000	13,607,000
Amortization Of Intangibles	13,605,000	13,677,000	14,067,000	13,607,000
Depreciation	7,746,000	6,844,000	7,390,000	6,477,000
Operating Gains Losses	-10,662,000	-1,929,000	-159,000	4,994,000
Earnings Losses From Equity Investments	-3,196,000	691,000	3,799,000	1,910,000
Gain Loss On Investment Securities	-7,455,000	-2,598,000	-3,765,000	4,010,000
Gain Loss On Sale Of PPE	-11,000	-44,000	-36,000	-58,000
Gain Loss On Sale Of Business	0	22,000	-157,000	-868,000
Net Income From Continuing Operations	5,457,000	24,175,000	21,549,000	7,534,000

These metrics estimate what Baidu, Inc. is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$506.45

Margin of Safety

74.8%

Market Cap ÷ Company Value

1.13

P/B Ratio

0.13

Warren's Owner Earnings

$40.4B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

3/7 — Speculative Investor

✅ Adequate Size

$129.1B

vs > $1.5B revenue

❌ Strong Financial Condition

1.76x

vs Current Ratio > 2.0x

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

❌ Dividend Record

No dividend

vs Uninterrupted dividends

❌ Earnings Growth

-40.7% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

74.3x

vs P/E ≤ 15.0x

✅ Moderate Price-to-Book

0.13x P/B (P/E×P/B: 9.8)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

$-27.16

Negative NCAV — liabilities exceed current assets. Common in capital-return businesses (buybacks, debt-funded dividends) and capital-intensive industries. Not automatically a warning sign.

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

$419.25

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	240.1%	34.8%	55.6%	111.0%	N/A
Repurchase of Capital Stock	-$5.5B	-$6.3B	-$4.8B	-$1.9B	N/A
Free Cash Flow	-$16.4B ▼	$13.0B ▼	$25.3B ▲	$17.8B •	N/A •
Warren's Owner Earnings	$40.4B	$52.5B	$53.1B	$36.0B	N/A

Peers & Industry Comparison

Internet Content & Information — Auto-detected peers

Company	Price	Market Cap	P/E	Gross Margin	Net Margin	Revenue
BIDU	$127.84	$43.5B	74.33	43.9%	4.3%	$129.1B
GOOGL Alphabet Inc.	$383.09	$4,641.3B	29.2	60.4%	37.9%	$422.5B
META Meta Platforms, Inc.	$610.87	$1,550.6B	22.2	81.9%	32.8%	$215.0B
SNAP Snap Inc.	$6.16	$10.4B	N/A	55.0%	-7.8%	$5.9B
PINS Pinterest, Inc.	$20.57	$13.2B	33.7	80.1%	9.9%	$4.2B

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

3.23%

Moderate — some alignment with shareholders

Return on Equity (ROE)

2.1%

Weak — poor returns on equity

Return on Assets (ROA)

1.2%

Poor — assets are not generating adequate returns

Share Buybacks (Latest Year)

$5.5B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+22.4% YoY

Debt is growing — management is leveraging up

Leadership Team

Yanhong Li

Co-Founder, Chairman & CEO

Age 56

Haijian He

Chief Financial Officer

Age 42

Dou Shen

Executive VP & President of Baidu AI Cloud Group

Age 45

Rong Luo

Executive Vice President of Baidu Mobile Ecosystem Group

Age 43

Zhenyu Li

Senior Vice President and GM of IDG

Age 49

Top Institutional Holders

Institution	% Owned	Shares
Primecap Management Company	4.04%	11,103,600
Morgan Stanley	0.99%	2,709,426
Robeco Institutional Asset Management B.V.	0.54%	1,474,077
UBS Group AG	0.52%	1,429,249
Susquehanna International Group, LLP	0.52%	1,425,180
Dimensional Fund Advisors LP	0.45%	1,238,437
Capital World Investors	0.43%	1,182,857
ARK Investment Management, LLC	0.42%	1,157,878

Risk Analysis

Beta (Market Risk)

0.52

Low volatility — more stable than the market

Short Interest

2.4% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.34x

Conservative balance sheet — low financial risk

Current Ratio