Bilibili (BILI) AI Stock Analysis

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Bilibili

(NASDAQ:BILI)

Rating:68Neutral

Price Target:

$28.00

▲(24.72% Upside)

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

Advertising Performance

Advertising continues to build momentum, supported by AI-driven ad tech upgrades that are enhancing efficiency and driving robust performance-based revenue growth.

Revenue Growth

Bilibili delivered a solid performance with revenue growing 20% year-over-year, driven by strong performances in gaming and advertising.

Negative Factors

Gaming Revenue Decline

Game revenue is expected to decline due to a high base, with reduced outlook for the second half of the year upon games and VAS weakness.

Valuation Concerns

Despite the increase in price target, the stock's valuation appears high within the China internet space.

Bilibili (BILI) vs. SPDR S&P 500 ETF (SPY)

Market Cap

$9.41B

Dividend YieldN/A

Average Volume (3M)3.09M

Price to Earnings (P/E)313.2

Beta (1Y)1.03

Revenue Growth22.89%

EPS GrowthN/A

CountryUS

Employees8,088

SectorCommunication Services

Sector Strength90

IndustryElectronic Gaming & Multimedia

Share Statistics

EPS (TTM)0.18

Shares Outstanding331,680,360

10 Day Avg. Volume3,797,544

30 Day Avg. Volume3,093,720

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market Cap0.81

Enterprise Value/Revenue0.27

Enterprise Value/Gross Profit0.79

Enterprise Value/Ebitda8.78

Forecast

1Y Price Target

$26.94

Price Target Upside20.00% Upside

Rating ConsensusModerate Buy

Number of Analyst Covering11

Bilibili Business Overview & Revenue Model

Company DescriptionBilibili 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 MoneyBilibili 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 Key Performance Indicators (KPIs)

Any

Total Daily Active Users

Total Daily Active Users
Measures the number of users engaging with the platform each day, indicating the platform's popularity, user retention, and potential for ad revenue growth.

Chart InsightsBilibili's Total Daily Active Users have shown consistent growth, reaching 107 million by Q1 2025. This aligns with the company's strong revenue growth and increased user engagement highlighted in the latest earnings call. The surge in game and advertising revenues, coupled with strategic investments in content and AI-driven advertising, are driving user retention and platform engagement. Despite increased marketing expenses, Bilibili's focus on its Gen Z+ user base and innovative content strategies suggests sustained growth potential in the competitive digital entertainment space.

Data provided by:

Main Street Data

Bilibili Earnings Call Summary

Earnings Call Date:Aug 21, 2025

(Q2-2025)

% Change Since: |

Next Earnings Date:Nov 13, 2025

Earnings Call Sentiment Positive

The earnings call reflects a robust performance from Bilibili with strong revenue growth in key segments like games and advertising. User engagement metrics are favorable, and profitability has improved significantly. Despite stable operating expenses, the highlights clearly outweigh the lowlights.

Q2-2025 Updates

Positive Updates

Strong Revenue Growth

Total net revenues for the second quarter grew by 20% year-over-year to RMB 7.3 billion, driven by the Core Games and Advertising businesses.

Games Revenue Surge

Games revenues increased by 60% year-over-year to RMB 1.6 billion, significantly boosted by new seasons of popular titles.

Advertising Revenue Boost

Advertising revenues rose 20% year-over-year to RMB 2.4 billion, supported by AI integration that improved app efficiency.

Impressive User Engagement

Daily active users (DAUs) reached 109 million, up 7% year-over-year, with an increase in average daily time spent to 105 minutes.

Successful Offline Event

Bilibili World and Bilibili Macro Link attracted over 400,000 participants, marking a 60% increase from last year.

Improved Profitability

Achieved GAAP net profit of RMB 218 million and adjusted net profit of RMB 561 million, with a gross margin expansion to 36.5% from 29.9%.

AI-Driven Content and Ads

AI-related content watch time grew 61% year-over-year, and AI advertiser demand increased by about 150%.

Share Repurchase Program

Repurchased approximately 5.6 million Class Z ordinary shares for a total of HKD 783 million or USD 100 million.

Negative Updates

Stable Operating Expenses

Total operating expenses remained stable at RMB 2.4 billion, indicating a need for further cost-efficiency improvements.

Company Guidance

During the Bilibili Second Quarter 2025 Financial Results and Business Update Conference Call, the company reported a 20% year-over-year increase in total net revenues, reaching RMB 7.3 billion, primarily driven by a 60% rise in games revenue and a 20% increase in advertising revenue. The gross profit surged by 46%, with a gross margin improving to 36.5% from 29.9% the previous year. The company achieved a GAAP net profit of RMB 218 million and an adjusted net profit of RMB 561 million. User engagement metrics also rose, with daily active users (DAUs) hitting 109 million, an increase of 7% year-over-year, and monthly active users (MAUs) reaching 363 million, up 8%. The average daily time spent on the platform was 105 minutes, a 6-minute increase from the previous year, indicative of the company's focus on high-quality, engaging content. The call highlighted the company's plans to continue investing in monetization initiatives and AI integration to drive sustainable growth and profitability.

Bilibili Financial Statement Overview

Summary

Bilibili demonstrates significant revenue growth of 19.1% and improved cash flow generation, with positive free cash flow. However, profitability remains a challenge with negative profit margins and net losses impacting return on equity. The balance sheet shows moderate leverage and a stable equity position.

Income Statement

Neutral

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

Positive

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

Positive

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	869.58M	1.19B	-1.67B	-5.02B	-3.95B	-1.07B
Net Income	-607.36M	-1.35B	-4.82B	-7.51B	-6.81B	-3.05B
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	1.27B	4.26B	-1.06B	-6.65B	-6.33B	-1.49B
Operating Cash Flow	1.30B	6.01B	266.62M	-3.91B	-2.65B	753.10M
Investing Cash Flow	-2.20B	-138.09M	1.76B	10.61B	-24.58B	-8.91B
Financing Cash Flow	250.78M	-2.83B	-5.07B	-4.35B	30.39B	8.34B

Bilibili Technical Analysis

Technical Analysis Sentiment

Neutral

Last Price22.45

Price Trends

50DMA

22.78

Negative

100DMA

20.37

Positive

200DMA

19.88

Positive

Market Momentum

MACD

0.18

Positive

RSI

43.62

Neutral

STOCH

5.94

Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BILI, the sentiment is Neutral. The current price of 22.45 is below the 20-day moving average (MA) of 23.50, below the 50-day MA of 22.78, and above the 200-day MA of 19.88, indicating a neutral trend. The MACD of 0.18 indicates Positive momentum. The RSI at 43.62 is Neutral, neither overbought nor oversold. The STOCH value of 5.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BILI.

Bilibili Risk Analysis

Bilibili disclosed 105 risk factors in its most recent earnings report. Bilibili reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added 0 New Risks

Bilibili Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NTES	80 Outperform	$87.07B	17.89	24.36%	2.14%	2.86%	19.96%
EA	77 Outperform	$43.09B	43.37	15.46%	0.44%	2.68%	-6.15%
RBLX	72 Outperform	$86.49B	―	-401.21%	―	27.39%	16.59%
BILI	68 Neutral	$9.41B	313.22	1.58%	―	22.89%	―
Sector *	60 Neutral	$43.56B	4.52	-12.81%	4.07%	1.87%	-43.08%
PLTK	59 Neutral	$1.38B	16.14	-220.61%	10.75%	4.98%	-60.29%
TTWO	55 Neutral	$42.58B	―	-89.29%	―	7.33%	-7.46%

* Communication Services Sector Average

Performance Comparison

BILI

Bilibili

22.45

8.22

57.77%

Electronic Arts

172.60

23.10

15.45%

NTES

NetEase

135.07

56.75

72.46%

TTWO

Take-Two

232.03

71.53

44.57%

PLTK

Playtika Holding

3.72

-3.38

-47.61%

RBLX

Roblox

122.70

79.13

181.62%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 21, 2025