vs
哔哩哔哩（BILI）与Deckers Brands（DECK）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是哔哩哔哩的1.5倍（$2.0B vs $1.3B），Deckers Brands净利率更高（24.6% vs 6.0%，领先18.6%），哔哩哔哩同比增速更快（26.2% vs 7.1%），过去两年Deckers Brands的营收复合增速更高（42.8% vs 27.3%）
哔哩哔哩（常被网友称为“B站”）是总部位于上海的中国知名在线视频平台，用户可在平台上传、观看各类视频内容，还能发送实时弹幕与其他观众互动，是国内深受年轻群体喜爱的文化社区。
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
BILI vs DECK — 直观对比
营收规模更大
DECK
是对方的1.5倍
$1.3B
营收增速更快
BILI
高出19.0%
7.1%
净利率更高
DECK
高出18.6%
6.0%
两年增速更快
DECK
近两年复合增速
27.3%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.0B |
| 净利润 | $75.7M | $481.1M |
| 毛利率 | 37.0% | 59.8% |
| 营业利润率 | 5.8% | 31.4% |
| 净利率 | 6.0% | 24.6% |
| 营收同比 | 26.2% | 7.1% |
| 净利润同比 | 143.0% | 5.3% |
| 每股收益（稀释后） | $1.14 | $3.33 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BILIDECK
| Q4 25 | $1.3B | $2.0B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.0B | $964.5M | ||
| Q1 25 | $965.1M | $1.0B | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $1.0B | $1.3B | ||
| Q2 24 | $843.1M | $825.3M | ||
| Q1 24 | $784.5M | $959.8M |
净利润BILIDECK
| Q4 25 | $75.7M | $481.1M | ||
| Q3 25 | $65.9M | $268.2M | ||
| Q2 25 | $30.5M | $139.2M | ||
| Q1 25 | $-1.5M | $151.4M | ||
| Q4 24 | $-176.0M | $456.7M | ||
| Q3 24 | $11.4M | $242.3M | ||
| Q2 24 | $83.7M | $115.6M | ||
| Q1 24 | $-105.9M | $127.5M |
毛利率BILIDECK
| Q4 25 | 37.0% | 59.8% | ||
| Q3 25 | 36.7% | 56.2% | ||
| Q2 25 | 36.5% | 55.8% | ||
| Q1 25 | 36.3% | 56.7% | ||
| Q4 24 | 36.2% | 60.3% | ||
| Q3 24 | 34.9% | 55.9% | ||
| Q2 24 | 29.9% | 56.9% | ||
| Q1 24 | 28.3% | 56.2% |
营业利润率BILIDECK
| Q4 25 | 5.8% | 31.4% | ||
| Q3 25 | 4.6% | 22.8% | ||
| Q2 25 | 3.4% | 17.1% | ||
| Q1 25 | 0.2% | 17.0% | ||
| Q4 24 | -16.0% | 31.0% | ||
| Q3 24 | 0.9% | 23.3% | ||
| Q2 24 | 9.5% | 16.1% | ||
| Q1 24 | -14.5% | 15.0% |
净利率BILIDECK
| Q4 25 | 6.0% | 24.6% | ||
| Q3 25 | 6.1% | 18.7% | ||
| Q2 25 | 3.0% | 14.4% | ||
| Q1 25 | -0.2% | 14.8% | ||
| Q4 24 | -17.5% | 25.0% | ||
| Q3 24 | 1.1% | 18.5% | ||
| Q2 24 | 9.9% | 14.0% | ||
| Q1 24 | -13.5% | 13.3% |
每股收益（稀释后）BILIDECK
| Q4 25 | $1.14 | $3.33 | ||
| Q3 25 | $1.05 | $1.82 | ||
| Q2 25 | $0.51 | $0.93 | ||
| Q1 25 | $0.00 | $-2.78 | ||
| Q4 24 | $0.21 | $3.00 | ||
| Q3 24 | $-0.03 | $1.59 | ||
| Q2 24 | $-0.20 | $4.52 | ||
| Q1 24 | $-1.80 | $4.82 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.7B | $2.1B |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.2B | $2.6B |
| 总资产 | $5.9B | $4.1B |
| 负债/权益比越低杠杆越低 | 0.62× | — |
8季度趋势，按日历期对齐
现金及短期投资BILIDECK
| Q4 25 | $2.7B | $2.1B | ||
| Q3 25 | $2.4B | $1.4B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | $1.9B | $1.9B | ||
| Q4 24 | $1.8B | $2.2B | ||
| Q3 24 | $11.7B | $1.2B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | $1.1B | $1.5B |
总债务BILIDECK
| 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 | — |
股东权益BILIDECK
| Q4 25 | $2.2B | $2.6B | ||
| Q3 25 | $2.1B | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | $2.0B | $2.5B | ||
| Q4 24 | $1.9B | $2.6B | ||
| Q3 24 | $13.7B | $2.2B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | $1.9B | $2.1B |
总资产BILIDECK
| Q4 25 | $5.9B | $4.1B | ||
| Q3 25 | $5.6B | $3.8B | ||
| Q2 25 | — | $3.8B | ||
| Q1 25 | $4.6B | $3.6B | ||
| Q4 24 | $4.5B | $4.0B | ||
| Q3 24 | $32.0B | $3.4B | ||
| Q2 24 | — | $3.3B | ||
| Q1 24 | $4.2B | $3.1B |
负债/权益比BILIDECK
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $263.1M | $1.0B |
| 自由现金流经营现金流 - 资本支出 | — | $1.0B |
| 自由现金流率自由现金流/营收 | — | 52.1% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | 3.47× | 2.17× |
| 过去12个月自由现金流最近4个季度 | — | $929.1M |
8季度趋势，按日历期对齐
经营现金流BILIDECK
| Q4 25 | $263.1M | $1.0B | ||
| Q3 25 | $283.2M | $8.1M | ||
| Q2 25 | $277.7M | $36.1M | ||
| Q1 25 | $179.4M | $-73.0M | ||
| Q4 24 | $191.9M | $1.1B | ||
| Q3 24 | $2.2B | $-90.5M | ||
| Q2 24 | — | $112.7M | ||
| Q1 24 | $88.3M | $-28.7M |
自由现金流BILIDECK
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $-13.9M | ||
| Q2 25 | — | $12.2M | ||
| Q1 25 | $174.5M | $-89.4M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $-113.4M | ||
| Q2 24 | — | $90.1M | ||
| Q1 24 | — | $-44.0M |
自由现金流率BILIDECK
| Q4 25 | — | 52.1% | ||
| Q3 25 | — | -1.0% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | 18.1% | -8.8% | ||
| Q4 24 | — | 58.6% | ||
| Q3 24 | — | -8.6% | ||
| Q2 24 | — | 10.9% | ||
| Q1 24 | — | -4.6% |
资本支出强度BILIDECK
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | 0.5% | 1.6% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 2.7% | ||
| Q1 24 | — | 1.6% |
现金转化率BILIDECK
| Q4 25 | 3.47× | 2.17× | ||
| Q3 25 | 4.30× | 0.03× | ||
| Q2 25 | 9.11× | 0.26× | ||
| Q1 25 | — | -0.48× | ||
| Q4 24 | — | 2.40× | ||
| Q3 24 | 195.23× | -0.37× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | -0.22× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
