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BILIBilibili Inc.
$15.01$6.3B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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BILI logo

Bilibili Inc.

BILI
NASDAQ · Gaming & Multimedia
$15.01
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$6.3B
P/E38.9x
52W High$36.40
Volume2.7M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Profitability Inflection Amidst Decelerating Growth and SBC Dilution

Bilibili has executed a decisive pivot from a cash-burning growth model to profitability, with operating income swinging from a loss of $1.3 billion in 2023Q4 to a profit of $371.8 million in 2026Q2, driven by structural margin expansion and operating leverage...

GrowthDecelerating
ProfitabilityModerate
ValuationReview
TechnicalsWeak
Explore valuation models
MARKET ACTION

BILI price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

10/12 Beats

EPS beat 10 of last 12 quarters

02

Valuation risk

+33% Peers

P/E is 33% above peer median

03

Market leadership

RS 13 · Lag

Laggard (Underperforming 87% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 12
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth has decelerated to 7.9% in 2026Q2, but gross margins have expanded significantly from a low of 23.1% in 2023Q2 to 37.7%, indicating a successful shift toward monetization and cost discipline.

Analyst Consensus+91.0% target
Buy(24 analysts)
20 Buy4 Hold0 Sell

The Bull Case

Upside Catalysts

Strong ACG community platform

Bilibili is a leading platform for anime, comics, and games (ACG) enthusiasts in Southeast Asia, offering a vibrant community for content creation and engagement.

New game pipeline potential

The upcoming game pipeline could be transformative for Bilibili, presenting significant growth opportunities in the gaming sector.

Premium content and exclusives

Bilibili offers premium content and exclusive benefits, attracting a dedicated user base and enhancing monetization potential.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
BILI-43.08%
S&P 500 (^GSPC)+12.39%
1-Year Return
BILI-41.75%
S&P 500 (^GSPC)+15.77%
3-Year Return
BILI+11.76%
S&P 500 (^GSPC)+77.30%
5-Year Return
BILI-79.81%
S&P 500 (^GSPC)+70.33%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
38.9x
Forward P/EExpansion
2.2x
EV/EBITDA100th %ile
12.0x
FCF YieldCash Flow
12.6%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
38.9x
9.5x
100th· High
EV/EBITDA
12.0x
2.5x
100th· High
Price/FCF
8.0x
2.1x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$16.09+7.2%
Base (Fair)$24.12+61.9%
Bull$31.15+107.5%
$16.09 Bear$24.12 Base$31.15 Bull
Current Market Price: $15.01
Trades at a 37.8% discount to Base DCF ($24.12)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$30.35B+13.1% YoY
Net income
$1.19B+188.6% YoY
Free cash flow
$5.32B+24.9% YoY
Operating margin
3.7%+8.7 pts YoY
ROIC (TTM)7.7%
Avg ROIC 5Y-
ROE (TTM)8%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate10/12 (83%)
Revenue Beat Rate9/12 (75%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 27, 2026
$0.23+0.0%
vs $0.23
$1.2B+0.2%
vs $1.2B
Q2 2026
May 19, 2026
$0.19+11.8%
vs $0.17
$1.1B-0.3%
vs $1.1B
Q2 2026
Mar 5, 2026
$0.28+3.7%
vs $0.27
$1.2B+2.3%
vs $1.2B
Q4 2025
Nov 13, 2025
$0.24+16.2%
vs $0.21
$1.1B-5.8%
vs $1.1B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·Sep 9, 2026
Bilibili Inc. Announces Completion of US$500 Million Marketed Convertible Senior Notes Offering, Concurrent Equity Placement and Concurrent Delta Repurchase

SHANGHAI, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced the completion of its previously announced offering (the “Marketed Notes Offering”) of US$500 million in aggregate principal amount of convertible senior notes due 2031 (the “Notes”) and its concurrent repurchase of approximately US$100 million of its Class Z ordinary shares. The Company has also been informed by the relevant financial institutions that the concurrent placement of borrowed Class Z ordinary shares to facilitate hedging by certain investors in the Notes, together with the secondary placement of Class Z ordinary shares by a subsidiary of Tencent Holdings Limited (together with its subsidiaries, “Tencent”), was completed today. The closing of the subscription by Tencent for an additional US$200 million in aggregate principal amount of the Notes and the Company's repurchase of approximately US$200 million of its shares from Tencent remain subject to independent shareholder approval at an extraordinary general meeting of the Company and other customary closing conditions.

Schaeffers Research·Sep 8, 2026
Dow Dragged Over 500 Points on Surging Crude Prices

Major Indexes are moving lower as crude prices and geopolitical tensions continue to rise

GlobeNewsWire·Sep 4, 2026
Bilibili Inc. Announces Pricing of Offerings of US$700 Million Convertible Senior Notes, Concurrent Equity Placement and Concurrent Share Repurchases

SHANGHAI, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced the pricing of its offerings (the “Notes Offerings”) of US$700 million in aggregate principal amount of convertible senior notes due 2031 (the “Notes”), including US$200 million of the principal amount of the Notes subscribed for in the Tencent Notes Subscription (as described below). The Notes have been made available only to non-U.S. persons that are “qualified institutional buyers” (as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)) outside the United States in compliance with Regulation S under the Securities Act.

GlobeNewsWire·Sep 4, 2026
Bilibili Inc. Announces Proposed Offerings of US$700 Million Convertible Senior Notes, Concurrent Equity Placement and Concurrent Share Repurchases

SHANGHAI, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI and HKEX: 9626), an iconic brand and a leading video community for young generations in China, today announced the proposed offerings (the “Notes Offerings”) of US$700 million in aggregate principal amount of convertible senior notes due 2031 (the “Notes”), subject to market conditions and other factors, including US$200 million of the principal amount of the Notes subscribed for in the Tencent Notes Subscription (as described below). The Notes are initially available only to non-U.S. persons that are “qualified institutional buyers” (as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)) outside the United States in compliance with Regulation S under the Securities Act.

Filtered for Bilibili Inc.More Headlines
04

Compare before deciding

Benchmark BILI against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Bilibili Inc. (BILI)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
BILI logoBILIBilibili Inc.Current
$15.01$6.3B38.9313.1%3.93%8.05%—
IQ logoIQiQIYI, Inc.
$1.01$973.96M-32.31-6.62%-3.08%-4.76%—
HUYA logoHUYAHUYA Inc.
$2.32$531.06M-32.476.96%-1.6%-2.29%—
DOYU logoDOYUDouYu International Holdings Limited
$4.67$140.94M-34.47-10.58%-0.89%-1.63%—
MOMO logoMOMOHello Group Inc.
$4.93$771.77M7.17-1.85%11.04%10.14%—
NFLX logoNFLXNetflix, Inc.
$71.36$297.14B28.2115.85%28.22%47.96%—

Compare BILI vs Peers

Bilibili Inc. (BILI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs IQ

Most directly comparable listed peer for BILI.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare BILI against a more recognizable public peer.

Peer Set

Compare Top 5

vs IQ, HUYA, DOYU, MOMO

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BILI Frequently Asked Questions

Bilibili Inc. (BILI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Bilibili Inc.'s revenue?

Bilibili Inc. (BILI) reported $29.99B in revenue for fiscal year 2025. This represents a 22796% increase from $131.0M in 2015.

How fast is Bilibili Inc. growing?

Bilibili Inc. (BILI) grew revenue by 13.1% over the past year. This is steady growth.

Is BILI profitable?

Yes, Bilibili Inc. (BILI) is profitable, generating $642.6M in net income for fiscal year 2025 (3.9% net margin).

Dividend & Returns
What is BILI's return on equity?

Bilibili Inc. (BILI) has a return on equity (ROE) of 8.0%. This is below average, suggesting room for improvement.

What is Bilibili Inc.'s free cash flow?

Bilibili Inc. (BILI) generated $3.29B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in BILI back in 2015?

Total return calculator · dividends reinvested · 11+ years of data

See returns →