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Side-by-side financial comparison of Bilibili Inc. (BILI) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
Bilibili Inc. is the larger business by last-quarter revenue ($1.3B vs $1.2B, roughly 1.0× MARRIOTT VACATIONS WORLDWIDE Corp). Bilibili Inc. runs the higher net margin — 6.0% vs -35.0%, a 41.0% gap on every dollar of revenue. On growth, Bilibili Inc. posted the faster year-over-year revenue change (26.2% vs -0.7%). Over the past eight quarters, Bilibili Inc.'s revenue compounded faster (27.3% CAGR vs 5.2%).
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.
Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vaca...
BILI vs VAC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.2B |
| Net Profit | $75.7M | $-431.0M |
| Gross Margin | 37.0% | — |
| Operating Margin | 5.8% | — |
| Net Margin | 6.0% | -35.0% |
| Revenue YoY | 26.2% | -0.7% |
| Net Profit YoY | 143.0% | -962.0% |
| EPS (diluted) | $1.14 | $-12.00 |
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 | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $965.1M | $1.1B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $843.1M | $1.1B | ||
| Q1 24 | $784.5M | $1.1B |
| Q4 25 | $75.7M | $-431.0M | ||
| Q3 25 | $65.9M | $-2.0M | ||
| Q2 25 | $30.5M | $69.0M | ||
| Q1 25 | $-1.5M | $56.0M | ||
| Q4 24 | $-176.0M | $50.0M | ||
| Q3 24 | $11.4M | $84.0M | ||
| Q2 24 | $83.7M | $37.0M | ||
| Q1 24 | $-105.9M | $47.0M |
| 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% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | -16.0% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 9.5% | — | ||
| Q1 24 | -14.5% | — |
| Q4 25 | 6.0% | -35.0% | ||
| Q3 25 | 6.1% | -0.2% | ||
| Q2 25 | 3.0% | 6.0% | ||
| Q1 25 | -0.2% | 5.0% | ||
| Q4 24 | -17.5% | 4.0% | ||
| Q3 24 | 1.1% | 6.9% | ||
| Q2 24 | 9.9% | 3.5% | ||
| Q1 24 | -13.5% | 4.2% |
| Q4 25 | $1.14 | $-12.00 | ||
| Q3 25 | $1.05 | $-0.07 | ||
| Q2 25 | $0.51 | $1.77 | ||
| Q1 25 | $0.00 | $1.46 | ||
| Q4 24 | $0.21 | $1.29 | ||
| Q3 24 | $-0.03 | $2.12 | ||
| Q2 24 | $-0.20 | $0.98 | ||
| Q1 24 | $-1.80 | $1.22 |
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 | $406.0M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $2.2B | $2.0B |
| Total Assets | $5.9B | $9.8B |
| Debt / EquityLower = less leverage | 0.62× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $406.0M | ||
| Q3 25 | $2.4B | $474.0M | ||
| Q2 25 | — | $205.0M | ||
| Q1 25 | $1.9B | $196.0M | ||
| Q4 24 | $1.8B | $197.0M | ||
| Q3 24 | $11.7B | $197.0M | ||
| Q2 24 | — | $206.0M | ||
| Q1 24 | $1.1B | $237.0M |
| 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 | $2.0B | ||
| Q3 25 | $2.1B | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | $2.0B | $2.4B | ||
| Q4 24 | $1.9B | $2.4B | ||
| Q3 24 | $13.7B | $2.4B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | $1.9B | $2.4B |
| Q4 25 | $5.9B | $9.8B | ||
| Q3 25 | $5.6B | $10.1B | ||
| Q2 25 | — | $9.9B | ||
| Q1 25 | $4.6B | $9.9B | ||
| Q4 24 | $4.5B | $9.8B | ||
| Q3 24 | $32.0B | $9.7B | ||
| Q2 24 | — | $9.6B | ||
| Q1 24 | $4.2B | $9.9B |
| 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 | $6.0M |
| Free Cash FlowOCF − Capex | — | $-6.0M |
| FCF MarginFCF / Revenue | — | -0.5% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 3.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $263.1M | $6.0M | ||
| Q3 25 | $283.2M | $62.0M | ||
| Q2 25 | $277.7M | $-48.0M | ||
| Q1 25 | $179.4M | $8.0M | ||
| Q4 24 | $191.9M | $100.0M | ||
| Q3 24 | $2.2B | $72.0M | ||
| Q2 24 | — | $30.0M | ||
| Q1 24 | $88.3M | $3.0M |
| Q4 25 | — | $-6.0M | ||
| Q3 25 | — | $51.0M | ||
| Q2 25 | — | $-68.0M | ||
| Q1 25 | $174.5M | $-6.0M | ||
| Q4 24 | — | $86.0M | ||
| Q3 24 | — | $58.0M | ||
| Q2 24 | — | $17.0M | ||
| Q1 24 | — | $-13.0M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 4.3% | ||
| Q2 25 | — | -5.9% | ||
| Q1 25 | 18.1% | -0.5% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | -1.2% |
| Q4 25 | — | 1.0% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | 0.5% | 1.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | 3.47× | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 9.11× | -0.70× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | 195.23× | 0.86× | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | — | 0.06× |
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% |
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
