Google

Return*
on*
Assets

2010
2011
2012
2013
Return'on'Assets
17.30%
15.00%
12.99%
12.69%
Sales*Efficiency *******0.596 **********0.581 **********0.603 **********0.584
Operating*Efficiency
29.02%
25.81%
21.53%
21.71%

Baidu

Return'on'Assets
41.34%
39.02%
30.57%
18.69%
Sales*Efficiency *******0.920 **********0.843 **********0.646 **********0.548
Operating*Efficiency
44.93%
46.26%
47.30%
34.12%

Google

Total'Leverage
'''''''''1.20
Interest*Efficiency *******1.000
Leverage *********1.20

''''''''''''1.24
**********0.995
************1.25

''''''''''''1.27
**********0.994
************1.28

''''''''''''1.28
**********0.995
************1.29

Baidu

Total'Leverage
'''''''''1.30
Interest*Efficiency *******0.991
Leverage *********1.31

''''''''''''1.38
**********0.990
************1.39

''''''''''''1.57
**********0.991
************1.58

''''''''''''1.66
**********0.965
************1.72

Total*Leverage

=
Return*
on*
Equity

Google

20.7%

18.7%

16.5%

16.2%

Baidu

53.6%

53.7%

48.0%

31.0%