Bilibili Inc. (BILI) Financial Ratios
11 years of historical data (2015–2025) · Technology · Electronic Gaming & Multimedia
EV/EBITDA
↑
13.98
↑+505% vs avg
5yr avg: 2.31
30Y Low2.1·High2.5
P/FCF
↑
9.19
↑+381% vs avg
5yr avg: 1.91
30Y Low1.8·High2.1
P/B Ratio
↓
3.33
↑+467% vs avg
5yr avg: 0.59
30Y Low0.3·High3.8
ROE
↑
8.0%
↓+133% vs avg
5yr avg: -24.1%
30Y Low-76%·High8%
Debt/EBITDA
↓
2.91
↓-21% vs avg
5yr avg: 3.68
30Y Low2.9·High4.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BILI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Bilibili Inc. trades at 45.0x earnings, 374% above its 5-year average of 9.5x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a premium of 55%. On a free-cash-flow basis, the stock trades at 9.2x P/FCF, 381% above the 5-year average of 1.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $7.2B | $10.9B | $7.5B | $5.0B | $8.2B | $17.6B | $29.6B | $6.0B | $3.4B | — | — |
| Enterprise Value | $6.8B | $8.3B | $2.4B | $5.5B | $13.6B | $29.3B | $33.6B | $4.6B | $-139865013 | — | — |
| P/E Ratio → | 45.01 | 9.49 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.61 | 0.36 | 0.28 | 0.22 | 0.37 | 0.91 | 2.47 | 0.89 | 0.82 | — | — |
| P/B Ratio | 3.33 | 0.70 | 0.53 | 0.35 | 0.54 | 0.81 | 3.81 | 0.79 | 0.47 | — | — |
| P/FCF | 9.19 | 2.05 | 1.77 | — | — | — | — | — | — | — | — |
| P/OCF | 6.84 | 1.53 | 1.25 | 18.86 | — | — | 39.36 | 30.93 | 4.61 | — | — |
P/E links to full P/E history page with 30-year chart
BILI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Bilibili Inc.'s enterprise value stands at 14.0x EBITDA, 505% above its 5-year average of 2.3x. The Technology sector median is 16.7x, placing the stock at a 16% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.27 | 0.09 | 0.24 | 0.62 | 1.51 | 2.80 | 0.67 | -0.03 | — | — |
| EV / EBITDA | 13.98 | 2.51 | 2.11 | — | — | — | — | — | — | — | — |
| EV / EBIT | 41.17 | 6.12 | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 1.56 | 0.57 | — | — | — | — | — | — | — | — |
BILI Profitability
Margins and return-on-capital ratios measuring operating efficiency
Bilibili Inc. earns an operating margin of 3.7%. Operating margins have expanded from -22.5% to 3.7% over the past 3 years, signaling improving operational efficiency. ROE of 8.0% is modest. ROIC of 7.7% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.6% | 36.6% | 32.7% | 24.2% | 17.6% | 20.9% | 23.7% | 17.6% | 20.7% | 22.2% | -47.7% |
| Operating Margin | 3.7% | 3.7% | -5.0% | -22.5% | -38.2% | -33.2% | -26.2% | -22.1% | -17.7% | -9.1% | -171.0% |
| Net Profit Margin | 3.9% | 3.9% | -5.0% | -21.4% | -34.3% | -35.1% | -25.1% | -19.0% | -13.4% | -7.4% | -173.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.0% | 8.0% | -9.4% | -32.5% | -40.6% | -46.2% | -39.1% | -17.4% | -11.9% | -10.2% | -76.2% |
| ROA | 3.2% | 3.2% | -4.1% | -12.9% | -16.0% | -17.9% | -15.3% | -9.9% | -7.9% | -6.5% | -54.8% |
| ROIC | 7.7% | 7.7% | -8.4% | -21.4% | -23.2% | -21.4% | -26.4% | -22.8% | -22.0% | -13.7% | -101.6% |
| ROCE | 5.8% | 5.8% | -8.1% | -25.5% | -25.8% | -22.8% | -22.7% | -16.2% | -15.7% | -12.4% | -75.0% |
BILI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Bilibili Inc. carries a Debt/EBITDA ratio of 2.9x, which is moderately leveraged (roughly in line with the sector average of 2.9x). The company holds a net cash position — cash of $12.2B exceeds total debt of $9.6B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 9.0x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.62 | 0.62 | 0.36 | 0.53 | 1.02 | 0.89 | 1.10 | 0.46 | — | — | — |
| Debt / EBITDA | 2.91 | 2.91 | 4.45 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.17 | -0.36 | 0.03 | 0.35 | 0.54 | 0.50 | -0.19 | -0.49 | -0.37 | -0.25 |
| Net Debt / EBITDA | -0.78 | -0.78 | -4.41 | — | — | — | — | — | — | -9.52 | — |
| Debt / FCF | — | -0.49 | -1.20 | — | — | — | — | — | — | — | — |
| Interest Coverage | 9.02 | 9.02 | -14.70 | -27.70 | -28.51 | -42.18 | -26.64 | -26.24 | — | — | — |
Net cash position: cash ($12.2B) exceeds total debt ($9.6B)
BILI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.36x means Bilibili Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.03x to 1.36x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.36 | 1.36 | 1.34 | 1.03 | 1.43 | 3.02 | 2.13 | 2.42 | 1.99 | 1.54 | 2.23 |
| Quick Ratio | 1.36 | 1.36 | 1.32 | 1.02 | 1.40 | 2.97 | 2.11 | 2.40 | 1.96 | 1.53 | 2.22 |
| Cash Ratio | 1.19 | 1.19 | 1.13 | 0.84 | 1.15 | 2.51 | 1.73 | 1.89 | 1.59 | 0.91 | 1.77 |
| Asset Turnover | — | 0.74 | 0.82 | 0.68 | 0.52 | 0.37 | 0.50 | 0.44 | 0.39 | 0.71 | 0.24 |
| Inventory Turnover | — | — | 61.26 | 70.90 | 35.11 | 27.87 | 50.89 | 70.76 | 48.19 | 192.29 | 115.45 |
| Days Sales Outstanding | — | 15.26 | 16.69 | 25.50 | 22.14 | 26.03 | 32.05 | 40.11 | 28.68 | 58.10 | 77.19 |
BILI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Bilibili Inc. returns 1.7% to shareholders annually primarily through share buybacks. The earnings yield of 2.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 10.5% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 10.9% | 48.7% | 56.5% | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.7% | 7.5% | 1.6% | 0.0% | 4.2% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 1.7% | 7.5% | 1.6% | 0.0% | 4.2% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $444M | $416M | $413M | $346M | $380M | $346M | $323M | $233M | $316M | $58M |
Peer Comparison
Compare BILI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BILIYou | $7B | 45.0 | 14.0 | 9.2 | 36.6% | 3.7% | 8.0% | 7.7% | 2.9 |
 IQ | $984M | -32.9 | 1.4 | 685.8 | 21.1% | 6.0% | -0.2% | 0.7% | 1.2 |
 HUYA | $517M | -31.9 | — | — | 13.4% | -2.5% | -1.8% | -2.3% | — |
 DOYU | $142M | -35.1 | -18.6 | — | 12.8% | 0.3% | -0.9% | 0.5% | 0.2 |
 MOMO | $874M | 8.0 | 0.4 | 8.8 | 37.8% | 13.1% | 7.1% | 11.5% | 0.1 |
 NFLX | $328B | 30.6 | 11.1 | 34.7 | 48.5% | 29.5% | 42.8% | 29.8% | 0.5 |
 SNAP | $8B | -17.2 | — | 18.0 | 55.0% | -9.0% | -19.5% | -6.9% | — |
 PINS | $13B | 33.3 | 37.0 | 10.8 | 80.1% | 7.6% | 8.8% | 6.1% | 0.8 |
 RDDT | $33B | 66.7 | 71.0 | 48.9 | 91.2% | 20.1% | 20.9% | 18.4% | 0.1 |
 SPOT | $96B | 38.9 | 35.3 | 29.3 | 32.0% | 12.8% | 31.9% | 40.5% | 1.0 |
 BABA | $250B | 16.5 | 16.7 | — | 39.8% | 5.8% | 9.4% | 3.8% | 2.4 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 11 years · Updated daily
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BILI — Frequently Asked Questions
Quick answers to the most common questions about buying BILI stock.
What is Bilibili Inc.'s P/E ratio?
Bilibili Inc.'s current P/E ratio is 45.0x. The historical average is 9.5x. This places it at the 100th percentile of its historical range.
What is Bilibili Inc.'s EV/EBITDA?
Bilibili Inc.'s current EV/EBITDA is 14.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.3x.
What is Bilibili Inc.'s ROE?
Bilibili Inc.'s return on equity (ROE) is 8.0%. The historical average is -29.0%.
Is BILI stock overvalued?
Based on historical data, Bilibili Inc. is trading at a P/E of 45.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Bilibili Inc.'s profit margins?
Bilibili Inc. has 36.6% gross margin and 3.7% operating margin.
How much debt does Bilibili Inc. have?
Bilibili Inc.'s Debt/EBITDA ratio is 2.9x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.