Bilibili (BILI) AI Stock Analysis

• Market Cap: $12.01B
• Dividend Yield: N/A
• Average Volume (3M): 3.69M
• Price to Earnings (P/E): 392.7
• Beta (1Y): 1.04
• Revenue Growth: 22.89%
• EPS Growth: N/A
• Country: US
• Employees: 8,088
• Sector: Communication Services
• Sector Strength: 97
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): 0.18
• Shares Outstanding: 332,615,900
• 10 Day Avg. Volume: 2,913,702
• 30 Day Avg. Volume: 3,690,719
• PEG Ratio: 0.57
• Price to Book (P/B): 3.90
• Price to Sales (P/S): 2.05
• P/FCF Ratio: 12.92
• Enterprise Value/Market Cap: 0.64
• Enterprise Value/Revenue: 0.27
• Enterprise Value/Gross Profit: 0.79
• Enterprise Value/Ebitda: -656.49
• 1Y Price Target: $27.73
• Price Target Upside: -2.74% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 12

• Rating: 68 Neutral
• Price Target: $28.00 ▼(-1.79% Downside)

Bilibili's overall stock score is driven by strong earnings call results and positive technical indicators. Financial performance shows revenue growth and improved cash flow, but profitability challenges persist. Valuation is impacted by negative earnings, but the company's strategic initiatives and user engagement provide a positive outlook.

Positive Factors

Revenue Growth

Strong revenue growth, driven by games and advertising, indicates robust demand and effective monetization strategies, supporting long-term expansion.

User Engagement

Increasing user engagement reflects the platform's growing influence and appeal, crucial for sustaining revenue growth and competitive positioning.

Cash Flow Improvement

Positive free cash flow indicates improved operational efficiencies and financial health, enhancing Bilibili's ability to invest in growth initiatives.

Negative Factors

Profitability Challenges

Persistent profitability issues, despite revenue growth, highlight challenges in cost management and achieving sustainable margins.

Negative Return on Equity

Negative return on equity suggests inefficiencies in generating returns from shareholders' investments, impacting long-term investor confidence.

Stable Operating Expenses

Stable operating expenses without significant reduction indicate limited progress in cost-efficiency, affecting profitability improvements.

Bilibili Business Overview & Revenue Model

Company Description

Bilibili Inc. provides online entertainment services for the young generations in the People's Republic of China. Its platform offers a range of content, including video services, mobile games, and value-added service, as well as ACG-related comic and audio content. The company's video services include professional user generated videos, occupationally generated videos, and live broadcasting. Bilibili Inc. was founded in 2009 and is headquartered in Shanghai, the People's Republic of China.

How the Company Makes Money

Bilibili generates revenue through multiple streams, primarily including advertising, premium membership subscriptions, and mobile gaming. Advertising revenue is earned through display and video ads on the platform, targeting its large user base. The premium membership service, known as 'Bilibili VIP,' offers subscribers exclusive content and features for a fee. Additionally, Bilibili has a significant presence in mobile gaming, where it collaborates with game developers to publish popular titles and shares revenue from in-game purchases. Other revenue streams include e-commerce partnerships and live broadcasting services, where users can gift virtual items to streamers, generating income for both the platform and its content creators. Strategic partnerships with various media companies and game developers also contribute to its financial success.

Bilibili Financial Statement Overview

Summary

Bilibili shows strong revenue growth and improved cash flow generation. However, challenges remain with profitability due to negative profit margins and net losses. The balance sheet indicates moderate leverage and a stable equity position, but the negative return on equity is a concern.

Income Statement

Bilibili's revenue showed strong growth with a 19.1% increase from 2023 to TTM. However, the company is facing challenges with profitability as indicated by a negative EBIT margin of -5.0% and a negative net profit margin of -5.0% for TTM. The gross profit margin stands at 32.7%, showing ability to cover costs, but not enough to offset operating expenses leading to negative net income.

Balance Sheet

The company has a relatively balanced capital structure with a debt-to-equity ratio of 0.34, indicating moderate leverage. The equity ratio is 43.2%, suggesting a stable asset base funded by equity. However, the return on equity is negative due to net losses, which is a concern for investors looking for profitability.

Cash Flow

Bilibili's free cash flow turned positive in the TTM, indicating improved cash-generating ability. The operating cash flow to net income ratio is strong at 1.77, showing effective cash conversion. The free cash flow to net income ratio also improved, suggesting operational efficiencies despite net income losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	28.17B	26.83B	22.53B	21.90B	19.38B	12.00B
Gross Profit	9.71B	8.77B	5.44B	3.85B	4.04B	2.84B
EBITDA	-11.63M	1.19B	-1.67B	-3.59B	-3.95B	-1.07B
Net Income	-607.36M	-1.35B	-4.82B	-7.51B	-6.81B	-3.01B
Balance Sheet
Total Assets	33.28B	32.70B	33.16B	41.83B	52.05B	23.87B
Cash, Cash Equivalents and Short-Term Investments	17.53B	16.68B	15.12B	19.60B	30.32B	12.81B
Total Debt	5.30B	5.15B	7.64B	15.54B	19.22B	8.59B
Total Liabilities	18.90B	18.59B	18.75B	26.59B	30.34B	16.08B
Stockholders Equity	14.39B	14.11B	14.39B	15.24B	21.70B	7.60B
Cash Flow
Free Cash Flow	3.11B	4.26B	-1.06B	-6.65B	-6.33B	-1.49B
Operating Cash Flow	3.05B	6.01B	266.62M	-3.91B	-2.65B	753.10M
Investing Cash Flow	-6.14B	-138.09M	1.76B	10.61B	-24.58B	-8.91B
Financing Cash Flow	143.28M	-2.83B	-5.07B	-4.35B	30.39B	8.34B

Bilibili Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 28.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BILI, the sentiment is Positive. The current price of 28.51 is above the 20-day moving average (MA) of 26.58, above the 50-day MA of 24.56, and above the 200-day MA of 20.62, indicating a bullish trend. The MACD of 1.17 indicates Negative momentum. The RSI at 63.65 is Neutral, neither overbought nor oversold. The STOCH value of 78.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BILI.

Bilibili Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NTES	80 Outperform	$93.38B	20.56	24.36%	1.91%	2.86%	19.96%
EA	75 Outperform	$50.29B	50.62	15.46%	0.38%	2.68%	-6.15%
RBLX	74 Outperform	$92.55B	―	-401.21%	―	27.39%	16.59%
BILI	68 Neutral	$12.01B	392.70	1.58%	―	22.89%	―
SOHU	63 Neutral	$466.62M	3.68	12.12%	―	-8.50%	―
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
TTWO	60 Neutral	$47.11B	―	-89.29%	―	7.33%	-7.46%

Bilibili Corporate Events

Bilibili Announces Share Issuance Changes in September 2025

On September 26, 2025, Bilibili Inc. announced a series of changes in its issued shares, primarily involving the issuance of Class Z ordinary shares as part of its 2018 Share Incentive Plan. These changes, which occurred between September 16 and September 25, 2025, reflect the company’s ongoing efforts to incentivize eligible participants through share options, potentially impacting its market positioning by aligning employee interests with shareholder value.

Bilibili Grants Over 2 Million RSUs to Employees

On September 25, 2025, Bilibili Inc. announced the grant of 2,077,820 restricted share units (RSUs) to 151 employees under its Second Amended and Restated 2018 Share Incentive Plan. This grant represents approximately 0.50% of the company’s total shares and aims to enhance employee loyalty and performance by aligning their interests with those of the company’s shareholders. The RSUs will vest over a period from September 25, 2026, to September 25, 2029, and are subject to clawback conditions in certain circumstances. The initiative is designed to motivate and retain key personnel, thereby supporting the company’s operational success and shareholder value.

Bilibili Reports Strong Revenue Growth and Profitability in H1 2025

Bilibili Inc. reported strong financial performance for the first half of 2025, with net revenues increasing by 21.6% year-over-year to RMB 14.34 billion. This growth was driven by significant increases in mobile games and advertising revenues, with mobile games revenue rising by 68% and advertising revenue by 20%. The company achieved a net profit of RMB 207.6 million and an adjusted net profit of RMB 922.8 million, reflecting improved operating efficiency and expanding gross margins. Bilibili’s user engagement also grew, with daily active users averaging 108 million and monthly active users reaching 365.2 million, demonstrating its growing influence among China’s Gen Z+ audience. The company plans to continue focusing on delivering high-quality content and community experiences to drive sustainable profitability and long-term value for stakeholders.

Bilibili Announces Share Issuance Under Incentive Plan

On September 16, 2025, Bilibili Inc. announced changes in its issued shares, involving the issuance of new Class Z ordinary shares as part of its 2018 Share Incentive Plan. These changes, which occurred from September 2 to September 8, 2025, reflect the company’s ongoing efforts to incentivize participants through share options, potentially impacting its market positioning and stakeholder interests.

Bilibili Updates Share Capital Movements for August 2025

On September 5, 2025, Bilibili Inc. submitted a monthly return form to The Stock Exchange of Hong Kong Limited, detailing the movements in its authorized share capital and issued shares for August 2025. The report highlighted that there were no changes in the authorized share capital, while the issued shares of Class Z ordinary shares increased by 113,936, reflecting the company’s ongoing adjustments in its share structure. This update provides stakeholders with transparency regarding Bilibili’s financial and operational status, potentially impacting investor confidence and market positioning.

Bilibili Announces Share Structure Changes on August 26, 2025

On August 26, 2025, Bilibili Inc. announced changes in its share structure, issuing new Class Z ordinary shares as part of its share incentive plans. This move reflects the company’s strategy to incentivize participants and directors, potentially impacting its market positioning by aligning interests with stakeholders.

Bilibili Reports Stable Share Capital Movements for July 2025

On August 7, 2025, Bilibili Inc. submitted a monthly return form to The Stock Exchange of Hong Kong Limited, detailing movements in its authorized share capital and issued shares for July 2025. The report indicates no changes in the number of authorized or issued shares for both Class Y and Class Z shares during the month, reflecting stability in the company’s equity structure. This stability can be seen as a sign of consistent operational strategy, which may reassure stakeholders about the company’s financial health and strategic direction.

Bilibili Reports June 2025 Share Capital Movements

On July 8, 2025, Bilibili Inc. submitted a monthly return form to The Stock Exchange of Hong Kong Limited, detailing movements in its authorized share capital and issued shares for June 2025. The report indicates a decrease in the number of issued shares for both Class Y and Class Z ordinary shares, reflecting changes in the company’s equity structure. This adjustment in share capital may impact Bilibili’s market positioning and stakeholder interests, as it reflects ongoing strategic financial management.