Bilibili (BILI) AI Stock Analysis

• Market Cap: $10.73B
• Dividend Yield: N/A
• Average Volume (3M): 2.92M
• Price to Earnings (P/E): 98.7
• Beta (1Y): 1.11
• Revenue Growth: 16.84%
• EPS Growth: N/A
• Country: US
• Employees: 8,088
• Sector: Communication Services
• Sector Strength: 97
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): 0.25
• Shares Outstanding: 332,973,000
• 10 Day Avg. Volume: 2,811,817
• 30 Day Avg. Volume: 2,924,544
• 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: 1.01
• Enterprise Value/Revenue: 0.37
• Enterprise Value/Gross Profit: 1.03
• Enterprise Value/Ebitda: 12.55
• 1Y Price Target: $30.17
• Price Target Upside: 19.20% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): 0.8
• Revenue Forecast (FY): $4.25B

• Rating: 62 Neutral
• Price Target: $29.00 ▲(14.58% Upside)

Bilibili's overall score is driven by strong earnings call results and financial performance improvements, particularly in revenue and cash flow. However, high valuation metrics and technical indicators suggest caution. The company's profitability challenges and high P/E ratio are significant risks.

Positive Factors

User Engagement Growth

Strong user engagement growth indicates a robust platform appeal and potential for increased monetization, supporting long-term revenue growth.

Advertising Revenue Surge

The surge in advertising revenue reflects effective monetization strategies, enhancing profitability and providing a stable revenue stream.

AI-Driven Innovation

AI-driven innovation positions Bilibili as a leader in tech adoption, potentially expanding user base and improving content accessibility.

Negative Factors

Profitability Challenges

Ongoing profitability challenges with negative margins could hinder long-term financial stability and investor confidence.

Decline in Game Revenue

A decline in game revenue suggests potential issues in a key revenue segment, impacting overall growth and diversification efforts.

High Valuation Concerns

High valuation metrics may deter investment, reflecting market skepticism about future growth potential amidst profitability issues.

Bilibili Business Overview & Revenue Model

Company Description

Bilibili Inc. (BILI) is a Chinese online entertainment platform that specializes in video sharing, live streaming, and gaming. Founded in 2009, Bilibili caters primarily to younger audiences, offering a wide range of content including anime, comics, and games, as well as user-generated videos. The platform features various sectors such as mobile gaming, e-commerce, and live broadcasting, and is known for its unique 'bullet comments' feature that allows viewers to post comments that appear on the video screen in real-time, enhancing user engagement.

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, the company faces challenges with profitability due to negative profit margins and net losses. The balance sheet is stable with moderate leverage, but the negative return on equity is concerning.

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	29.38B	26.83B	22.53B	21.90B	19.38B	12.00B
Gross Profit	10.55B	8.77B	5.44B	3.85B	4.04B	2.84B
EBITDA	863.01M	1.19B	-1.67B	-3.59B	-3.95B	-1.07B
Net Income	220.34M	-1.35B	-4.82B	-7.51B	-6.81B	-3.01B
Balance Sheet
Total Assets	38.79B	32.70B	33.16B	41.83B	52.05B	23.87B
Cash, Cash Equivalents and Short-Term Investments	22.29B	16.68B	15.12B	19.60B	30.32B	12.81B
Total Debt	9.82B	5.15B	7.64B	15.54B	19.22B	8.59B
Total Liabilities	24.64B	18.59B	18.75B	26.59B	30.34B	16.08B
Stockholders Equity	14.16B	14.11B	14.39B	15.24B	21.70B	7.60B
Cash Flow
Free Cash Flow	3.29B	4.26B	-1.06B	-6.65B	-6.33B	-1.49B
Operating Cash Flow	3.29B	6.01B	266.62M	-3.91B	-2.65B	753.10M
Investing Cash Flow	-7.18B	-138.09M	1.76B	10.61B	-24.58B	-8.91B
Financing Cash Flow	4.30B	-2.83B	-5.07B	-4.35B	30.39B	8.34B

Bilibili Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 25.31
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BILI, the sentiment is Negative. The current price of 25.31 is below the 20-day moving average (MA) of 28.16, below the 50-day MA of 27.78, and above the 200-day MA of 22.39, indicating a neutral trend. The MACD of -0.78 indicates Positive momentum. The RSI at 29.80 is Positive, neither overbought nor oversold. The STOCH value of 12.52 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BILI.

Bilibili Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NTES	76 Outperform	$85.03B	18.88	24.36%	2.16%	2.86%	19.96%
EA	68 Neutral	$50.27B	58.99	13.20%	0.38%	-1.45%	-11.99%
BILI	62 Neutral	$10.73B	98.67	5.30%	―	16.84%	―
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
SOHU	56 Neutral	$430.54M	3.43	14.73%	―	-4.80%	―
TTWO	50 Neutral	$44.43B	―	-86.61%	―	13.98%	-6.71%
RBLX	48 Neutral	$68.35B	―	-324.24%	―	32.70%	12.57%

Bilibili Corporate Events

Bilibili Reports Strong Q3 2025 Financial Growth and Management Change

Bilibili Inc. reported its financial results for the third quarter of 2025, showing significant growth in user engagement and financial performance. The company achieved a net profit of RMB469.4 million, a substantial turnaround from a net loss in the same period of 2024, driven by a 5% increase in total revenues and a 23% rise in advertising revenues. The company’s strategic focus on enhancing monetization efficiency and reducing operating expenses contributed to a 233% increase in adjusted net profit. Additionally, Bilibili announced a change in its joint company secretary, with Ms. Lai Ying Tung taking over the role effective November 13, 2025.

Bilibili Reports Stable Share Structure for October 2025

On November 7, 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 October 2025. The report indicates that there were no changes in the number of authorized or issued shares during this period, reflecting stability in the company’s share structure.

Bilibili Reports Share Capital Movements for September 2025

On October 9, 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 September 2025. The report highlights a decrease in Class Y shares and an increase in Class Z shares, reflecting adjustments in the company’s share structure. This update is significant for stakeholders as it indicates Bilibili’s ongoing efforts to manage its equity structure, potentially impacting its market positioning and investor relations.

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.