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Side-by-side financial comparison of Bilibili Inc. (BILI) and WATSCO INC (WSO). Click either name above to swap in a different company.
WATSCO INC is the larger business by last-quarter revenue ($1.6B vs $1.3B, roughly 1.2× Bilibili Inc.). Bilibili Inc. runs the higher net margin — 6.0% vs 4.5%, a 1.4% gap on every dollar of revenue. On growth, Bilibili Inc. posted the faster year-over-year revenue change (26.2% vs -10.0%). Over the past eight quarters, Bilibili Inc.'s revenue compounded faster (27.3% CAGR vs 0.4%).
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.
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
BILI vs WSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $1.6B |
| Net Profit | $75.7M | $71.7M |
| Gross Margin | 37.0% | 27.1% |
| Operating Margin | 5.8% | 6.4% |
| Net Margin | 6.0% | 4.5% |
| Revenue YoY | 26.2% | -10.0% |
| Net Profit YoY | 143.0% | -25.9% |
| EPS (diluted) | $1.14 | $1.82 |
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 | $1.6B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.0B | $2.1B | ||
| Q1 25 | $965.1M | $1.5B | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $1.0B | $2.2B | ||
| Q2 24 | $843.1M | $2.1B | ||
| Q1 24 | $784.5M | $1.6B |
| Q4 25 | $75.7M | $71.7M | ||
| Q3 25 | $65.9M | $161.6M | ||
| Q2 25 | $30.5M | $183.6M | ||
| Q1 25 | $-1.5M | $80.1M | ||
| Q4 24 | $-176.0M | $96.8M | ||
| Q3 24 | $11.4M | $171.0M | ||
| Q2 24 | $83.7M | $181.4M | ||
| Q1 24 | $-105.9M | $87.0M |
| Q4 25 | 37.0% | 27.1% | ||
| Q3 25 | 36.7% | 27.5% | ||
| Q2 25 | 36.5% | 29.3% | ||
| Q1 25 | 36.3% | 28.1% | ||
| Q4 24 | 36.2% | 26.7% | ||
| Q3 24 | 34.9% | 26.2% | ||
| Q2 24 | 29.9% | 27.1% | ||
| Q1 24 | 28.3% | 27.5% |
| Q4 25 | 5.8% | 6.4% | ||
| Q3 25 | 4.6% | 11.4% | ||
| Q2 25 | 3.4% | 13.2% | ||
| Q1 25 | 0.2% | 7.3% | ||
| Q4 24 | -16.0% | 7.8% | ||
| Q3 24 | 0.9% | 11.6% | ||
| Q2 24 | 9.5% | 12.6% | ||
| Q1 24 | -14.5% | 8.1% |
| Q4 25 | 6.0% | 4.5% | ||
| Q3 25 | 6.1% | 7.8% | ||
| Q2 25 | 3.0% | 8.9% | ||
| Q1 25 | -0.2% | 5.2% | ||
| Q4 24 | -17.5% | 5.5% | ||
| Q3 24 | 1.1% | 7.9% | ||
| Q2 24 | 9.9% | 8.5% | ||
| Q1 24 | -13.5% | 5.6% |
| Q4 25 | $1.14 | $1.82 | ||
| Q3 25 | $1.05 | $3.98 | ||
| Q2 25 | $0.51 | $4.52 | ||
| Q1 25 | $0.00 | $1.93 | ||
| Q4 24 | $0.21 | $2.42 | ||
| Q3 24 | $-0.03 | $4.22 | ||
| Q2 24 | $-0.20 | $4.49 | ||
| Q1 24 | $-1.80 | $2.17 |
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 | $733.3M |
| Total DebtLower is stronger | $1.4B | $361.6M |
| Stockholders' EquityBook value | $2.2B | $2.8B |
| Total Assets | $5.9B | $4.4B |
| Debt / EquityLower = less leverage | 0.62× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $733.3M | ||
| Q3 25 | $2.4B | $524.3M | ||
| Q2 25 | — | $293.0M | ||
| Q1 25 | $1.9B | $431.8M | ||
| Q4 24 | $1.8B | $781.9M | ||
| Q3 24 | $11.7B | $550.0M | ||
| Q2 24 | — | $424.9M | ||
| Q1 24 | $1.1B | $478.9M |
| Q4 25 | $1.4B | $361.6M | ||
| Q3 25 | $1.4B | $340.8M | ||
| Q2 25 | — | $338.7M | ||
| Q1 25 | $700.3M | $346.4M | ||
| Q4 24 | $662.5M | $337.2M | ||
| Q3 24 | $4.3B | $321.0M | ||
| Q2 24 | — | $307.1M | ||
| Q1 24 | $684.5M | $306.3M |
| Q4 25 | $2.2B | $2.8B | ||
| Q3 25 | $2.1B | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | $2.0B | $2.7B | ||
| Q4 24 | $1.9B | $2.7B | ||
| Q3 24 | $13.7B | $2.7B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | $1.9B | $2.5B |
| Q4 25 | $5.9B | $4.4B | ||
| Q3 25 | $5.6B | $4.6B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | $4.6B | $4.5B | ||
| Q4 24 | $4.5B | $4.5B | ||
| Q3 24 | $32.0B | $4.5B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | $4.2B | $4.4B |
| Q4 25 | 0.62× | 0.13× | ||
| Q3 25 | 0.65× | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | 0.35× | 0.13× | ||
| Q4 24 | 0.34× | 0.13× | ||
| Q3 24 | 0.31× | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | 0.36× | 0.12× |
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 | $399.8M |
| Free Cash FlowOCF − Capex | — | $388.5M |
| FCF MarginFCF / Revenue | — | 24.6% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | 3.47× | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | — | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $263.1M | $399.8M | ||
| Q3 25 | $283.2M | $354.9M | ||
| Q2 25 | $277.7M | $-7.4M | ||
| Q1 25 | $179.4M | $-177.6M | ||
| Q4 24 | $191.9M | $378.9M | ||
| Q3 24 | $2.2B | $232.8M | ||
| Q2 24 | — | $57.7M | ||
| Q1 24 | $88.3M | $103.7M |
| Q4 25 | — | $388.5M | ||
| Q3 25 | — | $346.1M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | $174.5M | $-185.2M | ||
| Q4 24 | — | $370.9M | ||
| Q3 24 | — | $223.0M | ||
| Q2 24 | — | $51.3M | ||
| Q1 24 | — | $97.9M |
| Q4 25 | — | 24.6% | ||
| Q3 25 | — | 16.7% | ||
| Q2 25 | — | -0.7% | ||
| Q1 25 | 18.1% | -12.1% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 6.3% |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | 0.5% | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.4% |
| Q4 25 | 3.47× | 5.57× | ||
| Q3 25 | 4.30× | 2.20× | ||
| Q2 25 | 9.11× | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | 195.23× | 1.36× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 1.19× |
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% |
WSO
Segment breakdown not available.
