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Side-by-side financial comparison of Bilibili Inc. (BILI) and Graham Holdings Co (GHC). Click either name above to swap in a different company.
Bilibili Inc. is the larger business by last-quarter revenue ($1.3B vs $1.3B, roughly 1.0× Graham Holdings Co). Graham Holdings Co runs the higher net margin — 8.7% vs 6.0%, a 2.7% gap on every dollar of revenue. On growth, Bilibili Inc. posted the faster year-over-year revenue change (26.2% vs 0.4%). Over the past eight quarters, Bilibili Inc.'s revenue compounded faster (27.3% CAGR vs 4.2%).
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.
Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.
BILI vs GHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.3B |
| Net Profit | $75.7M | $108.7M |
| Gross Margin | 37.0% | — |
| Operating Margin | 5.8% | 3.8% |
| Net Margin | 6.0% | 8.7% |
| Revenue YoY | 26.2% | 0.4% |
| Net Profit YoY | 143.0% | -80.2% |
| EPS (diluted) | $1.14 | $24.76 |
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 | $1.3B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $965.1M | $1.2B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $843.1M | $1.2B | ||
| Q1 24 | $784.5M | $1.2B |
| Q4 25 | $75.7M | $108.7M | ||
| Q3 25 | $65.9M | $122.9M | ||
| Q2 25 | $30.5M | $36.7M | ||
| Q1 25 | $-1.5M | $23.9M | ||
| Q4 24 | $-176.0M | $548.8M | ||
| Q3 24 | $11.4M | $72.5M | ||
| Q2 24 | $83.7M | $-21.0M | ||
| Q1 24 | $-105.9M | $124.4M |
| 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% | 3.8% | ||
| Q3 25 | 4.6% | 5.2% | ||
| Q2 25 | 3.4% | 6.0% | ||
| Q1 25 | 0.2% | 4.1% | ||
| Q4 24 | -16.0% | 5.8% | ||
| Q3 24 | 0.9% | 6.8% | ||
| Q2 24 | 9.5% | 2.2% | ||
| Q1 24 | -14.5% | 3.1% |
| Q4 25 | 6.0% | 8.7% | ||
| Q3 25 | 6.1% | 9.6% | ||
| Q2 25 | 3.0% | 3.0% | ||
| Q1 25 | -0.2% | 2.0% | ||
| Q4 24 | -17.5% | 44.1% | ||
| Q3 24 | 1.1% | 6.0% | ||
| Q2 24 | 9.9% | -1.8% | ||
| Q1 24 | -13.5% | 10.8% |
| Q4 25 | $1.14 | $24.76 | ||
| Q3 25 | $1.05 | $27.91 | ||
| Q2 25 | $0.51 | $8.35 | ||
| Q1 25 | $0.00 | $5.45 | ||
| Q4 24 | $0.21 | $124.05 | ||
| Q3 24 | $-0.03 | $16.42 | ||
| Q2 24 | $-0.20 | $-4.79 | ||
| Q1 24 | $-1.80 | $27.72 |
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 | $267.0M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $2.2B | $4.8B |
| Total Assets | $5.9B | $8.4B |
| Debt / EquityLower = less leverage | 0.62× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $267.0M | ||
| Q3 25 | $2.4B | $190.8M | ||
| Q2 25 | — | $176.2M | ||
| Q1 25 | $1.9B | $156.7M | ||
| Q4 24 | $1.8B | $260.9M | ||
| Q3 24 | $11.7B | $244.4M | ||
| Q2 24 | — | $140.7M | ||
| Q1 24 | $1.1B | $130.9M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $700.3M | — | ||
| Q4 24 | $662.5M | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $684.5M | — |
| Q4 25 | $2.2B | $4.8B | ||
| Q3 25 | $2.1B | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | $2.0B | $4.3B | ||
| Q4 24 | $1.9B | $4.3B | ||
| Q3 24 | $13.7B | $4.0B | ||
| Q2 24 | — | $4.0B | ||
| Q1 24 | $1.9B | $4.0B |
| Q4 25 | $5.9B | $8.4B | ||
| Q3 25 | $5.6B | $7.9B | ||
| Q2 25 | — | $7.6B | ||
| Q1 25 | $4.6B | $7.6B | ||
| Q4 24 | $4.5B | $7.7B | ||
| Q3 24 | $32.0B | $7.4B | ||
| Q2 24 | — | $7.2B | ||
| Q1 24 | $4.2B | $7.3B |
| Q4 25 | 0.62× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.31× | — | ||
| 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 | $28.3M |
| Free Cash FlowOCF − Capex | — | $5.0M |
| FCF MarginFCF / Revenue | — | 0.4% |
| Capex IntensityCapex / Revenue | — | 1.9% |
| Cash ConversionOCF / Net Profit | 3.47× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | $275.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $263.1M | $28.3M | ||
| Q3 25 | $283.2M | $178.1M | ||
| Q2 25 | $277.7M | $94.8M | ||
| Q1 25 | $179.4M | $46.0M | ||
| Q4 24 | $191.9M | $116.3M | ||
| Q3 24 | $2.2B | $237.6M | ||
| Q2 24 | — | $52.0M | ||
| Q1 24 | $88.3M | $1.1M |
| Q4 25 | — | $5.0M | ||
| Q3 25 | — | $161.8M | ||
| Q2 25 | — | $78.0M | ||
| Q1 25 | $174.5M | $30.5M | ||
| Q4 24 | — | $91.1M | ||
| Q3 24 | — | $219.4M | ||
| Q2 24 | — | $33.7M | ||
| Q1 24 | — | $-20.2M |
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 12.6% | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | 18.1% | 2.6% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 18.2% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | -1.8% |
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | 0.5% | 1.3% | ||
| Q4 24 | — | 2.0% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.8% |
| Q4 25 | 3.47× | 0.26× | ||
| Q3 25 | 4.30× | 1.45× | ||
| Q2 25 | 9.11× | 2.58× | ||
| Q1 25 | — | 1.93× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | 195.23× | 3.28× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.01× |
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% |
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
