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Side-by-side financial comparison of Bilibili Inc. (BILI) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
Bilibili Inc. is the larger business by last-quarter revenue ($1.3B vs $654.0M, roughly 1.9× ZILLOW GROUP, INC.). Bilibili Inc. runs the higher net margin — 6.0% vs 0.5%, a 5.5% gap on every dollar of revenue. On growth, Bilibili Inc. posted the faster year-over-year revenue change (26.2% vs 18.1%). Over the past eight quarters, Bilibili Inc.'s revenue compounded faster (27.3% CAGR vs 11.2%).
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.
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current technology leadership advisor.
BILI vs ZG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $654.0M |
| Net Profit | $75.7M | $3.0M |
| Gross Margin | 37.0% | 72.8% |
| Operating Margin | 5.8% | -1.7% |
| Net Margin | 6.0% | 0.5% |
| Revenue YoY | 26.2% | 18.1% |
| Net Profit YoY | 143.0% | 105.8% |
| EPS (diluted) | $1.14 | $0.01 |
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 | $654.0M | ||
| Q3 25 | $1.1B | $676.0M | ||
| Q2 25 | $1.0B | $655.0M | ||
| Q1 25 | $965.1M | $598.0M | ||
| Q4 24 | $1.0B | $554.0M | ||
| Q3 24 | $1.0B | $581.0M | ||
| Q2 24 | $843.1M | $572.0M | ||
| Q1 24 | $784.5M | $529.0M |
| Q4 25 | $75.7M | $3.0M | ||
| Q3 25 | $65.9M | $10.0M | ||
| Q2 25 | $30.5M | $2.0M | ||
| Q1 25 | $-1.5M | $8.0M | ||
| Q4 24 | $-176.0M | $-52.0M | ||
| Q3 24 | $11.4M | $-20.0M | ||
| Q2 24 | $83.7M | $-17.0M | ||
| Q1 24 | $-105.9M | $-23.0M |
| Q4 25 | 37.0% | 72.8% | ||
| Q3 25 | 36.7% | 72.6% | ||
| Q2 25 | 36.5% | 74.7% | ||
| Q1 25 | 36.3% | 76.8% | ||
| Q4 24 | 36.2% | 75.8% | ||
| Q3 24 | 34.9% | 75.9% | ||
| Q2 24 | 29.9% | 77.3% | ||
| Q1 24 | 28.3% | 76.7% |
| Q4 25 | 5.8% | -1.7% | ||
| Q3 25 | 4.6% | -0.4% | ||
| Q2 25 | 3.4% | -1.7% | ||
| Q1 25 | 0.2% | -1.5% | ||
| Q4 24 | -16.0% | -12.5% | ||
| Q3 24 | 0.9% | -7.7% | ||
| Q2 24 | 9.5% | -6.6% | ||
| Q1 24 | -14.5% | -8.5% |
| Q4 25 | 6.0% | 0.5% | ||
| Q3 25 | 6.1% | 1.5% | ||
| Q2 25 | 3.0% | 0.3% | ||
| Q1 25 | -0.2% | 1.3% | ||
| Q4 24 | -17.5% | -9.4% | ||
| Q3 24 | 1.1% | -3.4% | ||
| Q2 24 | 9.9% | -3.0% | ||
| Q1 24 | -13.5% | -4.3% |
| Q4 25 | $1.14 | $0.01 | ||
| Q3 25 | $1.05 | $0.04 | ||
| Q2 25 | $0.51 | $0.01 | ||
| Q1 25 | $0.00 | $0.03 | ||
| Q4 24 | $0.21 | $-0.23 | ||
| Q3 24 | $-0.03 | $-0.08 | ||
| Q2 24 | $-0.20 | $-0.07 | ||
| Q1 24 | $-1.80 | $-0.10 |
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 | $768.0M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $2.2B | $4.9B |
| Total Assets | $5.9B | $5.7B |
| Debt / EquityLower = less leverage | 0.62× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.7B | $768.0M | ||
| Q3 25 | $2.4B | $874.0M | ||
| Q2 25 | — | $587.0M | ||
| Q1 25 | $1.9B | $914.0M | ||
| Q4 24 | $1.8B | $1.1B | ||
| Q3 24 | $11.7B | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | $1.1B | $1.4B |
| 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 | $4.9B | ||
| Q3 25 | $2.1B | $5.0B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | $2.0B | $4.8B | ||
| Q4 24 | $1.9B | $4.8B | ||
| Q3 24 | $13.7B | $4.7B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | $1.9B | $4.7B |
| Q4 25 | $5.9B | $5.7B | ||
| Q3 25 | $5.6B | $5.7B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | $4.6B | $5.7B | ||
| Q4 24 | $4.5B | $5.8B | ||
| Q3 24 | $32.0B | $6.2B | ||
| Q2 24 | — | $6.6B | ||
| Q1 24 | $4.2B | $6.8B |
| 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 | $72.0M |
| Free Cash FlowOCF − Capex | — | $44.0M |
| FCF MarginFCF / Revenue | — | 6.7% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | 3.47× | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $263.1M | $72.0M | ||
| Q3 25 | $283.2M | $105.0M | ||
| Q2 25 | $277.7M | $87.0M | ||
| Q1 25 | $179.4M | $104.0M | ||
| Q4 24 | $191.9M | $122.0M | ||
| Q3 24 | $2.2B | $171.0M | ||
| Q2 24 | — | $55.0M | ||
| Q1 24 | $88.3M | $80.0M |
| Q4 25 | — | $44.0M | ||
| Q3 25 | — | $73.0M | ||
| Q2 25 | — | $50.0M | ||
| Q1 25 | $174.5M | $68.0M | ||
| Q4 24 | — | $88.0M | ||
| Q3 24 | — | $138.0M | ||
| Q2 24 | — | $18.0M | ||
| Q1 24 | — | $41.0M |
| Q4 25 | — | 6.7% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | 18.1% | 11.4% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 23.8% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 7.8% |
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | 0.5% | 6.0% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | 7.4% |
| Q4 25 | 3.47× | 24.00× | ||
| Q3 25 | 4.30× | 10.50× | ||
| Q2 25 | 9.11× | 43.50× | ||
| Q1 25 | — | 13.00× | ||
| 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% |
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
