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Bilibili Inc.

Rank #251Op. Leverage

BILI · Nasdaq · Communication Services

Bilibili Inc. (BILI) — Rank #251 by gross profitability (GP/assets 0.27) · ROE 7.7% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001723690 · all metrics point-in-time as of the filing date.

About

Bilibili Inc. provides online entertainment services for the young generations in the People's Republic of China.

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It offers a range of digital content, including professional user generated videos (PUGV), mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, comics on Bilibili Comic, PUGV content in fan charging program and premium courses, and Bilibili premium courses and community-based avatar decoration. The company also provides advertising services; and IP derivatives and other services. In addition, it engages in the business and technology development activities; e-commerce business; and video, comics, and game distribution activities. Bilibili Inc.

was founded in 2009 and is headquartered in Shanghai, the People's Republic of China.

Industry
Internet Content & Information
Sector
Communication Services
State
E9
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Price History

BILI-81.9% · -29.0% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$6.38B

P/E (annual)

5.7

P/S (annual)

0.2

P/B

0.4

P/OCF (annual)

0.9

Shareholder Yield

—

Employees

8,287

Industry

Internet Content & Information

Exchange

Nasdaq

Signal Flags

1 green
Deferred revenue growingRevenue and deferred revenue both growing — retention signal

Quality Profile

Profitability

1/1 pass
GP / assets
0.27
Return on equity
7.7%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.65
Current ratio
1.36×
Net cash
$13.76B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
3.9%

Growth

1/1 pass
Revenue growth
13.1%
Piotroski F-Score
N/A
Share dilution
—

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

N/A
0.5xmed 1.0x2.0x

P / GP

Price / gross profit per share

N/A
2.3xmed 5.0x6.0x

Operating margin expansion and free cash flow are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.27

Primary signal (Novy-Marx).

12th of 13 SIC 7374 peers

Return on equity

7.7%

Gross margin

36.6%

10th of 13 SIC 7374 peers

Revenue growth (YoY)

13.1%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

11.5%

Revenue CAGR (5Y)

20.4%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.65

10th of 11 SIC 7374 peers (best = lowest)

Current ratio

1.36×

8th of 13 SIC 7374 peers

Quick ratio

0.98×

Net cash

$13.76B

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$6.63B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

4.56

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

3.9%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20202025
Hypergrowth
Startup
Op. Leverage
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