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Side-by-side financial comparison of Bilibili Inc. (BILI) and KeyCorp (KEY). Click either name above to swap in a different company.
KeyCorp is the larger business by last-quarter revenue ($2.0B vs $1.3B, roughly 1.6× Bilibili Inc.). KeyCorp runs the higher net margin — 25.4% vs 6.0%, a 19.5% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 26.2%). Over the past eight quarters, Bilibili Inc.'s revenue compounded faster (27.3% CAGR vs 14.4%).
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.
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
BILI vs KEY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $2.0B |
| Net Profit | $75.7M | $510.0M |
| Gross Margin | 37.0% | — |
| Operating Margin | 5.8% | 32.3% |
| Net Margin | 6.0% | 25.4% |
| Revenue YoY | 26.2% | 131.8% |
| Net Profit YoY | 143.0% | 309.0% |
| EPS (diluted) | $1.14 | $0.43 |
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 | $2.0B | ||
| Q3 25 | $1.1B | $1.9B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $965.1M | $1.8B | ||
| Q4 24 | $1.0B | $865.0M | ||
| Q3 24 | $1.0B | $695.0M | ||
| Q2 24 | $843.1M | $1.5B | ||
| Q1 24 | $784.5M | $1.5B |
| Q4 25 | $75.7M | $510.0M | ||
| Q3 25 | $65.9M | $489.0M | ||
| Q2 25 | $30.5M | $425.0M | ||
| Q1 25 | $-1.5M | $405.0M | ||
| Q4 24 | $-176.0M | $-244.0M | ||
| Q3 24 | $11.4M | $-410.0M | ||
| Q2 24 | $83.7M | $274.0M | ||
| Q1 24 | $-105.9M | $219.0M |
| 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% | 32.3% | ||
| Q3 25 | 4.6% | 31.8% | ||
| Q2 25 | 3.4% | 29.3% | ||
| Q1 25 | 0.2% | 29.0% | ||
| Q4 24 | -16.0% | -92.6% | ||
| Q3 24 | 0.9% | -72.8% | ||
| Q2 24 | 9.5% | 22.0% | ||
| Q1 24 | -14.5% | 18.1% |
| Q4 25 | 6.0% | 25.4% | ||
| Q3 25 | 6.1% | 25.8% | ||
| Q2 25 | 3.0% | 23.1% | ||
| Q1 25 | -0.2% | 22.8% | ||
| Q4 24 | -17.5% | -54.7% | ||
| Q3 24 | 1.1% | -59.0% | ||
| Q2 24 | 9.9% | 18.0% | ||
| Q1 24 | -13.5% | 14.3% |
| Q4 25 | $1.14 | $0.43 | ||
| Q3 25 | $1.05 | $0.41 | ||
| Q2 25 | $0.51 | $0.35 | ||
| Q1 25 | $0.00 | $0.33 | ||
| Q4 24 | $0.21 | $-0.30 | ||
| Q3 24 | $-0.03 | $-0.47 | ||
| Q2 24 | $-0.20 | $0.25 | ||
| Q1 24 | $-1.80 | $0.20 |
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 | $10.2B |
| Total DebtLower is stronger | $1.4B | $9.9B |
| Stockholders' EquityBook value | $2.2B | $20.4B |
| Total Assets | $5.9B | $184.4B |
| Debt / EquityLower = less leverage | 0.62× | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $10.2B | ||
| Q3 25 | $2.4B | $13.3B | ||
| Q2 25 | — | $11.6B | ||
| Q1 25 | $1.9B | $15.3B | ||
| Q4 24 | $1.8B | $17.5B | ||
| Q3 24 | $11.7B | $22.8B | ||
| Q2 24 | — | $15.5B | ||
| Q1 24 | $1.1B | $13.2B |
| Q4 25 | $1.4B | $9.9B | ||
| Q3 25 | $1.4B | $10.9B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | $700.3M | $12.4B | ||
| Q4 24 | $662.5M | $12.1B | ||
| Q3 24 | $4.3B | $15.7B | ||
| Q2 24 | — | $16.9B | ||
| Q1 24 | $684.5M | $20.8B |
| Q4 25 | $2.2B | $20.4B | ||
| Q3 25 | $2.1B | $20.1B | ||
| Q2 25 | — | $19.5B | ||
| Q1 25 | $2.0B | $19.0B | ||
| Q4 24 | $1.9B | $18.2B | ||
| Q3 24 | $13.7B | $16.9B | ||
| Q2 24 | — | $14.8B | ||
| Q1 24 | $1.9B | $14.5B |
| Q4 25 | $5.9B | $184.4B | ||
| Q3 25 | $5.6B | $187.4B | ||
| Q2 25 | — | $185.5B | ||
| Q1 25 | $4.6B | $188.7B | ||
| Q4 24 | $4.5B | $187.2B | ||
| Q3 24 | $32.0B | $189.8B | ||
| Q2 24 | — | $187.4B | ||
| Q1 24 | $4.2B | $187.5B |
| Q4 25 | 0.62× | 0.49× | ||
| Q3 25 | 0.65× | 0.54× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | 0.35× | 0.65× | ||
| Q4 24 | 0.34× | 0.67× | ||
| Q3 24 | 0.31× | 0.93× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | 0.36× | 1.43× |
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 | $2.2B |
| Free Cash FlowOCF − Capex | — | $2.1B |
| FCF MarginFCF / Revenue | — | 104.8% |
| Capex IntensityCapex / Revenue | — | 5.3% |
| Cash ConversionOCF / Net Profit | 3.47× | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | — | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $263.1M | $2.2B | ||
| Q3 25 | $283.2M | $396.0M | ||
| Q2 25 | $277.7M | $1.2B | ||
| Q1 25 | $179.4M | $-140.0M | ||
| Q4 24 | $191.9M | $664.0M | ||
| Q3 24 | $2.2B | $-1.2B | ||
| Q2 24 | — | $-217.0M | ||
| Q1 24 | $88.3M | $359.0M |
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $367.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | $174.5M | $-150.0M | ||
| Q4 24 | — | $599.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-230.0M | ||
| Q1 24 | — | $347.0M |
| Q4 25 | — | 104.8% | ||
| Q3 25 | — | 19.4% | ||
| Q2 25 | — | 65.8% | ||
| Q1 25 | 18.1% | -8.5% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | — | -175.8% | ||
| Q2 24 | — | -15.1% | ||
| Q1 24 | — | 22.6% |
| Q4 25 | — | 5.3% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | 0.5% | 0.6% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | 3.47× | 4.33× | ||
| Q3 25 | 4.30× | 0.81× | ||
| Q2 25 | 9.11× | 2.90× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | 195.23× | — | ||
| Q2 24 | — | -0.79× | ||
| Q1 24 | — | 1.64× |
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% |
KEY
Segment breakdown not available.
