Stock

ind Avg
P/E
13.8
26.8
Price/Book
1.5
3.4
Price/Sales
1.6
5.1
Revenue Growth (3 years) 25.7
9.8
EPS Growth (3 Years)
-1.1
32.7
Operating Margin
22.6
26.9
Net margin
11.4
19
ROE
11.4
12.8
Debt/Equity
0
1

Debt/Equity
ROE
Net margin
Operating Margin
EPS Growth (3 Years)
Revenue Growth (3 years)
Price/Sales
Price/Book
P/E
-5

10

15

20

25

30

ind Avg
Stock

30

35

Income

SOHU
2007

2011

Baidu
2007

Revenue
188.93
429.05
515.24
612.78
852.09
Net Income
Profit Margin
32.71
163.84
204.39
230.53
254.3
Operating Income
Operating Margin
0.173133 0.381867 0.396689 0.376204 0.298443

1,744.43
Revenue
Rev USD
278.9344
Op USD
87.48929
547.15
Operating Income
Operating Margin
0.313655

Cash Flow

Cash Flow
2011

Income
2008

2010

2009

2010

2009

2008

2007

Operating
Investing
Financing
Net Change in Cash

2011
Operating
Investing
Financing
Net Change in Cash

SOHU Revenue vs. General Market

2500

Revenue (millions of USD)

2000
Baidu Revenue

1500

SINA Revenue
Renren Revenue
1000

KUTV Revenue
YOKU Revenue

500

0
2007

SOHU Revenue

2008

2009
Year

2010

2011

Income
2008

2009

2010

2011

3,198.25

4,447.78

7,915.07

14,500.79

511.4002
711.2 1265.62 2318.676
175.3687 256.6299 633.0073 1211.508
1,096.74

1,604.94

3,958.77

7,576.66

0.342919 0.360841 0.500156

0.5225

SINA

2007

2008

2009

Rev USD
246.1
369.59
358.57
51.01
74.58
37.2
Operating Income
Operating Margin
0.207273 0.201791 0.103745

Cash Flow
2010

2009

2008

2007

2011

2010

2009

Operating
Investing
Financing
Net Change in Cash

SOHU Operating Margin vs. General Market

1

Baidu Revenue
SINA Revenue
Renren Revenue
KUTV Revenue
YOKU Revenue
SOHU Revenue

Operating Margin

0.5
0
2007
-0.5

2008

2009

-1

2010

2011

Baidu Operating Margin

SINA Operating Margin
Renren Operating Margin

-1.5

KUTV Operating Margin

-2

Yoku Operating Margin

-2.5

SOHU Operating Margin

-3
-3.5
-4
Year

Income

Renren
2007

2010

2011

2008

2009

2010

2011

402.62

482.83

76.53

117.97

-33.66

-2.73

7.68

-30.27

0.239034

-0.06971

Revenue
13.78
Operating Income -8.31
Operating Margin
-0.60305

46.68

96.24

-0.05848 0.100353

-0.25659

2008

2007

Cash Flow
2011
Operating
Investing
Financing
Net Change in Cash

Market

Baidu Operating Margin

SINA Operating Margin
Renren Operating Margin
KUTV Operating Margin
Yoku Operating Margin
SOHU Operating Margin

2010

2009

2008

2007

Income

KUTV

Income

Revenue
Net Income
2007
Profit Margin 60.53
Operating Income -43.5
Operating Margin
-0.71865

2008

2009

2010

2011

1.04

16.56

19.22

2.6

-6.65

-53.61

-49.57

-6.39423

-3.23732

-2.57908

2009

2008

2007

Cash Flow

Revenue
Net Income
Profit Margin
Operating Income
Operating Margin

Cash Flow
2011

Operating
Investing
Financing
Net Change in Cash

2010

Operating
Investing
Financing
Net Change in Cash

Yoku
2007

2008

2009

2010

2011

1.78

33.02

153.63

387.1

897.62

-88.21

-202.96

-175.26

-154.22

-183.29

Operating Margin
-49.5562

-6.14658

-1.14079

-0.3984

-0.2042

2011

2010

2009

2008

2007

Net Income
Profit Margin

Net Change in Cash

Cash

SOHU
Cash Flow

BIDU
2007

2008

2009

2010

2011

91.43
Operating
-49.74
Investing
-47.49
Financing
Net Change in Cash-2.05

218.36

235.02

284.42

370.45

-27.02

-79.65

-229.81

-305.78

-7.39

93.67

49.02

-36.76

191.72

249.36

114.61

54.22

2007

2008

214.33

1,007.01

SOHU Cash Flow vs. General Market

3000

Cash (Millions of USD)

2000

1000

0
2007

2008

2009

-1000

-2000

Year

2010

2011

SINA
2009

2010

2011

2007

2008

2009

2010

2011

1,822.77

3,601.60

-3,654.49

108.49

111.65

363.1

-102.8

-129.64

eral Market

Investing Activities
Financing Activities
Operating Activities
Baidu Net Change in Cash
SINA Net Change in Cash
Renren Net Change in Cash
KUTV Net Change in Cash
Yoku Net Change in Cash
SOHU Net Change in Cash

Renren
2007

KUTV
2008

2009

2010

2011

2007

2008

47.87

38.95

45.69

148.58

-8.62

-6.51

Yoku
2009

2010

2011

2007

2008

2009

2010

2011

-9.73

-22.45

-0.54

116.83

-68.84

212.69

1,509.82

481.12

Online games

435,508

Wireless

52,015

Others

22,394

Brand advertising

279,189

Search and others

62,981

Subtotal of online advertising revenues

342,170

SOHU Produc
Subtotal of online
advertising revenues
29%

Search and others

5%
Brand advertising
23%

SOHU Products and Services

otal of online
ising revenues

Brand advertising

Online games
37%

Others
2%

Wireless
4%