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Side-by-side financial comparison of Bilibili Inc. (BILI) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
Bilibili Inc. is the larger business by last-quarter revenue ($1.3B vs $792.0M, roughly 1.6× Global Business Travel Group, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 6.0%, a 4.5% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 26.2%). Over the past eight quarters, Bilibili Inc.'s revenue compounded faster (27.3% CAGR vs 13.9%).
Bilibili, nicknamed B Site, is a Chinese online video sharing website based in Shanghai where users can submit, view, and add overlaid commentary on videos.
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
BILI vs GBTG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $792.0M |
| Net Profit | $75.7M | $83.0M |
| Gross Margin | 37.0% | — |
| Operating Margin | 5.8% | 3.7% |
| Net Margin | 6.0% | 10.5% |
| Revenue YoY | 26.2% | 34.0% |
| Net Profit YoY | 143.0% | 692.9% |
| EPS (diluted) | $1.14 | $0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.3B | $792.0M | ||
| Q3 25 | $1.1B | $674.0M | ||
| Q2 25 | $1.0B | $631.0M | ||
| Q1 25 | $965.1M | $621.0M | ||
| Q4 24 | $1.0B | $591.0M | ||
| Q3 24 | $1.0B | $597.0M | ||
| Q2 24 | $843.1M | $625.0M | ||
| Q1 24 | $784.5M | $610.0M |
| Q4 25 | $75.7M | $83.0M | ||
| Q3 25 | $65.9M | $-62.0M | ||
| Q2 25 | $30.5M | $15.0M | ||
| Q1 25 | $-1.5M | $75.0M | ||
| Q4 24 | $-176.0M | $-14.0M | ||
| Q3 24 | $11.4M | $-128.0M | ||
| Q2 24 | $83.7M | $27.0M | ||
| Q1 24 | $-105.9M | $-19.0M |
| Q4 25 | 37.0% | — | ||
| Q3 25 | 36.7% | — | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 36.3% | — | ||
| Q4 24 | 36.2% | — | ||
| Q3 24 | 34.9% | — | ||
| Q2 24 | 29.9% | — | ||
| Q1 24 | 28.3% | — |
| Q4 25 | 5.8% | 3.7% | ||
| Q3 25 | 4.6% | 1.8% | ||
| Q2 25 | 3.4% | 5.4% | ||
| Q1 25 | 0.2% | 8.9% | ||
| Q4 24 | -16.0% | 5.1% | ||
| Q3 24 | 0.9% | 4.5% | ||
| Q2 24 | 9.5% | 6.7% | ||
| Q1 24 | -14.5% | 2.6% |
| Q4 25 | 6.0% | 10.5% | ||
| Q3 25 | 6.1% | -9.2% | ||
| Q2 25 | 3.0% | 2.4% | ||
| Q1 25 | -0.2% | 12.1% | ||
| Q4 24 | -17.5% | -2.4% | ||
| Q3 24 | 1.1% | -21.4% | ||
| Q2 24 | 9.9% | 4.3% | ||
| Q1 24 | -13.5% | -3.1% |
| Q4 25 | $1.14 | $0.16 | ||
| Q3 25 | $1.05 | $-0.13 | ||
| Q2 25 | $0.51 | $0.03 | ||
| Q1 25 | $0.00 | $0.16 | ||
| Q4 24 | $0.21 | $-0.04 | ||
| Q3 24 | $-0.03 | $-0.28 | ||
| Q2 24 | $-0.20 | $0.06 | ||
| Q1 24 | $-1.80 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.7B | $434.0M |
| Total DebtLower is stronger | $1.4B | $1.4B |
| Stockholders' EquityBook value | $2.2B | $1.6B |
| Total Assets | $5.9B | $4.9B |
| Debt / EquityLower = less leverage | 0.62× | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $434.0M | ||
| Q3 25 | $2.4B | $427.0M | ||
| Q2 25 | — | $601.0M | ||
| Q1 25 | $1.9B | $552.0M | ||
| Q4 24 | $1.8B | $536.0M | ||
| Q3 24 | $11.7B | $524.0M | ||
| Q2 24 | — | $515.0M | ||
| Q1 24 | $1.1B | $475.0M |
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | $700.3M | $1.4B | ||
| Q4 24 | $662.5M | $1.4B | ||
| Q3 24 | $4.3B | $1.4B | ||
| Q2 24 | — | — | ||
| Q1 24 | $684.5M | — |
| Q4 25 | $2.2B | $1.6B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | $2.0B | $1.1B | ||
| Q4 24 | $1.9B | $1.1B | ||
| Q3 24 | $13.7B | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | $1.9B | $1.2B |
| Q4 25 | $5.9B | $4.9B | ||
| Q3 25 | $5.6B | $4.8B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | $4.6B | $3.8B | ||
| Q4 24 | $4.5B | $3.6B | ||
| Q3 24 | $32.0B | $3.8B | ||
| Q2 24 | — | $3.8B | ||
| Q1 24 | $4.2B | $3.8B |
| Q4 25 | 0.62× | 0.88× | ||
| Q3 25 | 0.65× | 0.91× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | 0.35× | 1.23× | ||
| Q4 24 | 0.34× | 1.32× | ||
| Q3 24 | 0.31× | 1.26× | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.36× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $263.1M | $52.0M |
| Free Cash FlowOCF − Capex | — | $13.0M |
| FCF MarginFCF / Revenue | — | 1.6% |
| Capex IntensityCapex / Revenue | — | 4.9% |
| Cash ConversionOCF / Net Profit | 3.47× | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | — | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $263.1M | $52.0M | ||
| Q3 25 | $283.2M | $71.0M | ||
| Q2 25 | $277.7M | $57.0M | ||
| Q1 25 | $179.4M | $53.0M | ||
| Q4 24 | $191.9M | $65.0M | ||
| Q3 24 | $2.2B | $85.0M | ||
| Q2 24 | — | $73.0M | ||
| Q1 24 | $88.3M | $49.0M |
| Q4 25 | — | $13.0M | ||
| Q3 25 | — | $38.0M | ||
| Q2 25 | — | $27.0M | ||
| Q1 25 | $174.5M | $26.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $49.0M | ||
| Q1 24 | — | $24.0M |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | 18.1% | 4.2% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 9.9% | ||
| Q2 24 | — | 7.8% | ||
| Q1 24 | — | 3.9% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 4.9% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | 0.5% | 4.3% | ||
| Q4 24 | — | 5.4% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 4.1% |
| Q4 25 | 3.47× | 0.63× | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 9.11× | 3.80× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | 195.23× | — | ||
| Q2 24 | — | 2.70× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BILI
| Value-added services (VAS) | $466.4M | 37% |
| Advertising | $435.0M | 34% |
| Mobile games | $220.3M | 17% |
| Other | $80.8M | 6% |
| IP derivatives and others | $68.2M | 5% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
