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Side-by-side financial comparison of Bilibili Inc. (BILI) and Lineage, Inc. (LINE). Click either name above to swap in a different company.
Lineage, Inc. is the larger business by last-quarter revenue ($1.4B vs $1.3B, roughly 1.1× Bilibili Inc.). Bilibili Inc. runs the higher net margin — 6.0% vs -7.3%, a 13.2% gap on every dollar of revenue. On growth, Bilibili Inc. posted the faster year-over-year revenue change (26.2% vs 3.1%).
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.
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
BILI vs LINE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.4B |
| Net Profit | $75.7M | $-100.0M |
| Gross Margin | 37.0% | 32.3% |
| Operating Margin | 5.8% | 2.5% |
| Net Margin | 6.0% | -7.3% |
| Revenue YoY | 26.2% | 3.1% |
| Net Profit YoY | 143.0% | 79.4% |
| EPS (diluted) | $1.14 | $-0.44 |
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 | — | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $965.1M | $1.3B | ||
| Q4 24 | $1.0B | $1.3B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $843.1M | $1.3B | ||
| Q1 24 | $784.5M | $1.3B |
| Q4 25 | $75.7M | — | ||
| Q3 25 | $65.9M | $-100.0M | ||
| Q2 25 | $30.5M | $-6.0M | ||
| Q1 25 | $-1.5M | $0 | ||
| Q4 24 | $-176.0M | $-71.0M | ||
| Q3 24 | $11.4M | $-485.0M | ||
| Q2 24 | $83.7M | $-68.0M | ||
| Q1 24 | $-105.9M | $-40.0M |
| Q4 25 | 37.0% | — | ||
| Q3 25 | 36.7% | 32.3% | ||
| Q2 25 | 36.5% | 31.9% | ||
| Q1 25 | 36.3% | 32.2% | ||
| Q4 24 | 36.2% | 32.3% | ||
| Q3 24 | 34.9% | 32.8% | ||
| Q2 24 | 29.9% | 33.4% | ||
| Q1 24 | 28.3% | 33.4% |
| Q4 25 | 5.8% | — | ||
| Q3 25 | 4.6% | 2.5% | ||
| Q2 25 | 3.4% | 1.7% | ||
| Q1 25 | 0.2% | 4.3% | ||
| Q4 24 | -16.0% | -1.6% | ||
| Q3 24 | 0.9% | -38.6% | ||
| Q2 24 | 9.5% | 5.5% | ||
| Q1 24 | -14.5% | 7.6% |
| Q4 25 | 6.0% | — | ||
| Q3 25 | 6.1% | -7.3% | ||
| Q2 25 | 3.0% | -0.4% | ||
| Q1 25 | -0.2% | — | ||
| Q4 24 | -17.5% | -5.3% | ||
| Q3 24 | 1.1% | -36.3% | ||
| Q2 24 | 9.9% | -5.1% | ||
| Q1 24 | -13.5% | -3.0% |
| Q4 25 | $1.14 | — | ||
| Q3 25 | $1.05 | $-0.44 | ||
| Q2 25 | $0.51 | $-0.03 | ||
| Q1 25 | $0.00 | $0.01 | ||
| Q4 24 | $0.21 | $-0.52 | ||
| Q3 24 | $-0.03 | $-2.44 | ||
| Q2 24 | $-0.20 | $-0.46 | ||
| Q1 24 | $-1.80 | $-0.28 |
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 | — |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $2.2B | $8.4B |
| Total Assets | $5.9B | $19.2B |
| Debt / EquityLower = less leverage | 0.62× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.8B | $173.0M | ||
| Q3 24 | $11.7B | $409.0M | ||
| Q2 24 | — | $73.0M | ||
| Q1 24 | $1.1B | — |
| 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 | — | ||
| Q3 25 | $2.1B | $8.4B | ||
| Q2 25 | — | $8.6B | ||
| Q1 25 | $2.0B | $8.6B | ||
| Q4 24 | $1.9B | $8.6B | ||
| Q3 24 | $13.7B | $9.0B | ||
| Q2 24 | — | $4.9B | ||
| Q1 24 | $1.9B | $5.6B |
| Q4 25 | $5.9B | — | ||
| Q3 25 | $5.6B | $19.2B | ||
| Q2 25 | — | $19.4B | ||
| Q1 25 | $4.6B | $18.8B | ||
| Q4 24 | $4.5B | $18.7B | ||
| Q3 24 | $32.0B | $19.3B | ||
| Q2 24 | — | $18.8B | ||
| Q1 24 | $4.2B | — |
| 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 | $230.0M |
| Free Cash FlowOCF − Capex | — | $35.0M |
| FCF MarginFCF / Revenue | — | 2.5% |
| Capex IntensityCapex / Revenue | — | 14.2% |
| Cash ConversionOCF / Net Profit | 3.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $263.1M | — | ||
| Q3 25 | $283.2M | $230.0M | ||
| Q2 25 | $277.7M | $258.0M | ||
| Q1 25 | $179.4M | $139.0M | ||
| Q4 24 | $191.9M | — | ||
| Q3 24 | $2.2B | $186.0M | ||
| Q2 24 | — | $155.0M | ||
| Q1 24 | $88.3M | $105.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $35.0M | ||
| Q2 25 | — | $95.0M | ||
| Q1 25 | $174.5M | $-12.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $33.0M | ||
| Q2 24 | — | $-31.0M | ||
| Q1 24 | — | $-42.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | 18.1% | -0.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | -2.3% | ||
| Q1 24 | — | -3.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 14.2% | ||
| Q2 25 | — | 12.1% | ||
| Q1 25 | 0.5% | 11.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | 13.9% | ||
| Q1 24 | — | 11.1% |
| Q4 25 | 3.47× | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 9.11× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 195.23× | — | ||
| Q2 24 | — | — | ||
| 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% |
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
