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哔哩哔哩（BILI）与怪兽饮料（MNST）财务数据对比。点击上方公司名可切换其他公司
怪兽饮料的季度营收约是哔哩哔哩的1.7倍（$2.1B vs $1.3B），怪兽饮料净利率更高（21.1% vs 6.0%，领先15.1%），哔哩哔哩同比增速更快（26.2% vs 17.6%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs 5.9%）
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。
怪兽饮料是美国知名饮品企业，旗下拥有魔爪、Relentless、Reign、Burn等多款畅销能量饮料产品。公司1935年创立于美国南加州，前身为Hansen's，最初主营果汁产品，2012年正式更为现名。
BILI vs MNST — 直观对比
营收规模更大
MNST
是对方的1.7倍
$1.3B
营收增速更快
BILI
高出8.6%
17.6%
净利率更高
MNST
高出15.1%
6.0%
两年增速更快
BILI
近两年复合增速
5.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.1B |
| 净利润 | $75.7M | $449.2M |
| 毛利率 | 37.0% | 55.5% |
| 营业利润率 | 5.8% | 25.5% |
| 净利率 | 6.0% | 21.1% |
| 营收同比 | 26.2% | 17.6% |
| 净利润同比 | 143.0% | 65.9% |
| 每股收益（稀释后） | $1.14 | — |
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BILIMNST
| Q4 25 | $1.3B | $2.1B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.0B | $2.1B | ||
| Q1 25 | $965.1M | $1.9B | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $1.0B | $1.9B | ||
| Q2 24 | $843.1M | $1.9B | ||
| Q1 24 | $784.5M | $1.9B |
净利润BILIMNST
| Q4 25 | $75.7M | $449.2M | ||
| Q3 25 | $65.9M | $524.5M | ||
| Q2 25 | $30.5M | $488.8M | ||
| Q1 25 | $-1.5M | $443.0M | ||
| Q4 24 | $-176.0M | $270.7M | ||
| Q3 24 | $11.4M | $370.9M | ||
| Q2 24 | $83.7M | $425.4M | ||
| Q1 24 | $-105.9M | $442.0M |
毛利率BILIMNST
| Q4 25 | 37.0% | 55.5% | ||
| Q3 25 | 36.7% | 55.7% | ||
| Q2 25 | 36.5% | 55.7% | ||
| Q1 25 | 36.3% | 56.5% | ||
| Q4 24 | 36.2% | 55.3% | ||
| Q3 24 | 34.9% | 53.2% | ||
| Q2 24 | 29.9% | 53.6% | ||
| Q1 24 | 28.3% | 54.1% |
营业利润率BILIMNST
| Q4 25 | 5.8% | 25.5% | ||
| Q3 25 | 4.6% | 30.7% | ||
| Q2 25 | 3.4% | 29.9% | ||
| Q1 25 | 0.2% | 30.7% | ||
| Q4 24 | -16.0% | 21.0% | ||
| Q3 24 | 0.9% | 25.5% | ||
| Q2 24 | 9.5% | 27.7% | ||
| Q1 24 | -14.5% | 28.5% |
净利率BILIMNST
| Q4 25 | 6.0% | 21.1% | ||
| Q3 25 | 6.1% | 23.9% | ||
| Q2 25 | 3.0% | 23.1% | ||
| Q1 25 | -0.2% | 23.9% | ||
| Q4 24 | -17.5% | 14.9% | ||
| Q3 24 | 1.1% | 19.7% | ||
| Q2 24 | 9.9% | 22.4% | ||
| Q1 24 | -13.5% | 23.3% |
每股收益（稀释后）BILIMNST
| Q4 25 | $1.14 | — | ||
| Q3 25 | $1.05 | — | ||
| Q2 25 | $0.51 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $0.21 | — | ||
| Q3 24 | $-0.03 | — | ||
| Q2 24 | $-0.20 | — | ||
| Q1 24 | $-1.80 | — |
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 | $2.8B |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.2B | $8.3B |
| 总资产 | $5.9B | $10.0B |
| 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BILIMNST
| Q4 25 | $2.7B | $2.8B | ||
| Q3 25 | $2.4B | $2.6B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | $1.9B | $1.9B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $11.7B | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $1.1B | $3.6B |
总债务BILIMNST
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $700.3M | $199.1M | ||
| Q4 24 | $662.5M | $374.0M | ||
| Q3 24 | $4.3B | $748.8M | ||
| Q2 24 | — | $748.7M | ||
| Q1 24 | $684.5M | — |
股东权益BILIMNST
| Q4 25 | $2.2B | $8.3B | ||
| Q3 25 | $2.1B | $7.7B | ||
| Q2 25 | — | $7.2B | ||
| Q1 25 | $2.0B | $6.5B | ||
| Q4 24 | $1.9B | $6.0B | ||
| Q3 24 | $13.7B | $5.8B | ||
| Q2 24 | — | $5.9B | ||
| Q1 24 | $1.9B | $8.6B |
总资产BILIMNST
| Q4 25 | $5.9B | $10.0B | ||
| Q3 25 | $5.6B | $9.6B | ||
| Q2 25 | — | $8.7B | ||
| Q1 25 | $4.6B | $8.2B | ||
| Q4 24 | $4.5B | $7.7B | ||
| Q3 24 | $32.0B | $8.1B | ||
| Q2 24 | — | $8.1B | ||
| Q1 24 | $4.2B | $10.1B |
负债/权益比BILIMNST
| Q4 25 | 0.62× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.35× | 0.03× | ||
| Q4 24 | 0.34× | 0.06× | ||
| Q3 24 | 0.31× | 0.13× | ||
| Q2 24 | — | 0.13× | ||
| 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 | $379.4M |
| 自由现金流经营现金流 - 资本支出 | — | $351.2M |
| 自由现金流率自由现金流/营收 | — | 16.5% |
| 资本支出强度资本支出/营收 | — | 1.3% |
| 现金转化率经营现金流/净利润 | 3.47× | 0.84× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流BILIMNST
| Q4 25 | $263.1M | $379.4M | ||
| Q3 25 | $283.2M | $745.1M | ||
| Q2 25 | $277.7M | $466.0M | ||
| Q1 25 | $179.4M | $507.6M | ||
| Q4 24 | $191.9M | $461.7M | ||
| Q3 24 | $2.2B | $618.4M | ||
| Q2 24 | — | $436.3M | ||
| Q1 24 | $88.3M | $412.1M |
自由现金流BILIMNST
| Q4 25 | — | $351.2M | ||
| Q3 25 | — | $701.5M | ||
| Q2 25 | — | $434.6M | ||
| Q1 25 | $174.5M | $478.5M | ||
| Q4 24 | — | $370.4M | ||
| Q3 24 | — | $571.4M | ||
| Q2 24 | — | $376.5M | ||
| Q1 24 | — | $346.1M |
自由现金流率BILIMNST
| Q4 25 | — | 16.5% | ||
| Q3 25 | — | 31.9% | ||
| Q2 25 | — | 20.6% | ||
| Q1 25 | 18.1% | 25.8% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | — | 30.4% | ||
| Q2 24 | — | 19.8% | ||
| Q1 24 | — | 18.2% |
资本支出强度BILIMNST
| Q4 25 | — | 1.3% | ||
| Q3 25 | — | 2.0% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | 0.5% | 1.6% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 3.5% |
现金转化率BILIMNST
| Q4 25 | 3.47× | 0.84× | ||
| Q3 25 | 4.30× | 1.42× | ||
| Q2 25 | 9.11× | 0.95× | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | 1.71× | ||
| Q3 24 | 195.23× | 1.67× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 0.93× |
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% |
MNST
| Monster Energy Drinks Segment | $1.2B | 57% |
| Sales Revenue Product Line | $905.5M | 42% |
| Strategic Brands Segment | $50.3M | 2% |
| Alcohol Brands Segment | $29.0M | 1% |
