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哔哩哔哩（BILI）与Post Holdings, Inc.（POST）财务数据对比。点击上方公司名可切换其他公司
Post Holdings, Inc.的季度营收约是哔哩哔哩的1.7倍（$2.2B vs $1.3B），哔哩哔哩净利率更高（6.0% vs 4.5%，领先1.5%），哔哩哔哩同比增速更快（26.2% vs 10.1%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs 4.3%）
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。
Post Holdings, Inc.是美国头部包装消费品食品生产商，旗下拥有知名食品业务板块Post Consumer Brands，总部坐落于明尼苏达州莱克维尔，其生产的食品类快消品覆盖北美及全球多个市场，深受消费者喜爱。
BILI vs POST — 直观对比
营收规模更大
POST
是对方的1.7倍
$1.3B
营收增速更快
BILI
高出16.0%
10.1%
净利率更高
BILI
高出1.5%
4.5%
两年增速更快
BILI
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.2B |
| 净利润 | $75.7M | $96.8M |
| 毛利率 | 37.0% | 29.4% |
| 营业利润率 | 5.8% | 11.0% |
| 净利率 | 6.0% | 4.5% |
| 营收同比 | 26.2% | 10.1% |
| 净利润同比 | 143.0% | -14.6% |
| 每股收益（稀释后） | $1.14 | $1.71 |
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BILIPOST
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $1.0B | $2.0B | ||
| Q1 25 | $965.1M | $2.0B | ||
| Q4 24 | $1.0B | $2.0B | ||
| Q3 24 | $1.0B | $2.0B | ||
| Q2 24 | $843.1M | $1.9B | ||
| Q1 24 | $784.5M | $2.0B |
净利润BILIPOST
| Q4 25 | $75.7M | $96.8M | ||
| Q3 25 | $65.9M | $51.0M | ||
| Q2 25 | $30.5M | $108.8M | ||
| Q1 25 | $-1.5M | $62.6M | ||
| Q4 24 | $-176.0M | $113.3M | ||
| Q3 24 | $11.4M | $81.6M | ||
| Q2 24 | $83.7M | $99.8M | ||
| Q1 24 | $-105.9M | $97.2M |
毛利率BILIPOST
| Q4 25 | 37.0% | 29.4% | ||
| Q3 25 | 36.7% | 26.8% | ||
| Q2 25 | 36.5% | 30.0% | ||
| Q1 25 | 36.3% | 28.0% | ||
| Q4 24 | 36.2% | 30.1% | ||
| Q3 24 | 34.9% | 28.6% | ||
| Q2 24 | 29.9% | 29.6% | ||
| Q1 24 | 28.3% | 29.0% |
营业利润率BILIPOST
| Q4 25 | 5.8% | 11.0% | ||
| Q3 25 | 4.6% | 7.5% | ||
| Q2 25 | 3.4% | 11.8% | ||
| Q1 25 | 0.2% | 9.3% | ||
| Q4 24 | -16.0% | 10.8% | ||
| Q3 24 | 0.9% | 9.5% | ||
| Q2 24 | 9.5% | 10.4% | ||
| Q1 24 | -14.5% | 9.5% |
净利率BILIPOST
| Q4 25 | 6.0% | 4.5% | ||
| Q3 25 | 6.1% | 2.3% | ||
| Q2 25 | 3.0% | 5.5% | ||
| Q1 25 | -0.2% | 3.2% | ||
| Q4 24 | -17.5% | 5.7% | ||
| Q3 24 | 1.1% | 4.1% | ||
| Q2 24 | 9.9% | 5.1% | ||
| Q1 24 | -13.5% | 4.9% |
每股收益（稀释后）BILIPOST
| Q4 25 | $1.14 | $1.71 | ||
| Q3 25 | $1.05 | $0.91 | ||
| Q2 25 | $0.51 | $1.79 | ||
| Q1 25 | $0.00 | $1.03 | ||
| Q4 24 | $0.21 | $1.78 | ||
| Q3 24 | $-0.03 | $1.28 | ||
| Q2 24 | $-0.20 | $1.53 | ||
| Q1 24 | $-1.80 | $1.48 |
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 | $279.3M |
| 总债务越低越好 | $1.4B | $7.5B |
| 股东权益账面价值 | $2.2B | $3.5B |
| 总资产 | $5.9B | $13.0B |
| 负债/权益比越低杠杆越低 | 0.62× | 2.16× |
8季度趋势，按日历期对齐
现金及短期投资BILIPOST
| Q4 25 | $2.7B | $279.3M | ||
| Q3 25 | $2.4B | $176.7M | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | $1.9B | $617.6M | ||
| Q4 24 | $1.8B | $872.9M | ||
| Q3 24 | $11.7B | $787.4M | ||
| Q2 24 | — | $333.8M | ||
| Q1 24 | $1.1B | $333.4M |
总债务BILIPOST
| Q4 25 | $1.4B | $7.5B | ||
| Q3 25 | $1.4B | $7.4B | ||
| Q2 25 | — | $7.3B | ||
| Q1 25 | $700.3M | $6.9B | ||
| Q4 24 | $662.5M | $6.9B | ||
| Q3 24 | $4.3B | $6.8B | ||
| Q2 24 | — | $6.4B | ||
| Q1 24 | $684.5M | $6.4B |
股东权益BILIPOST
| Q4 25 | $2.2B | $3.5B | ||
| Q3 25 | $2.1B | $3.8B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | $2.0B | $3.8B | ||
| Q4 24 | $1.9B | $3.9B | ||
| Q3 24 | $13.7B | $4.1B | ||
| Q2 24 | — | $3.9B | ||
| Q1 24 | $1.9B | $4.0B |
总资产BILIPOST
| Q4 25 | $5.9B | $13.0B | ||
| Q3 25 | $5.6B | $13.5B | ||
| Q2 25 | — | $13.4B | ||
| Q1 25 | $4.6B | $12.8B | ||
| Q4 24 | $4.5B | $12.8B | ||
| Q3 24 | $32.0B | $12.9B | ||
| Q2 24 | — | $12.1B | ||
| Q1 24 | $4.2B | $12.2B |
负债/权益比BILIPOST
| Q4 25 | 0.62× | 2.16× | ||
| Q3 25 | 0.65× | 1.98× | ||
| Q2 25 | — | 1.84× | ||
| Q1 25 | 0.35× | 1.81× | ||
| Q4 24 | 0.34× | 1.79× | ||
| Q3 24 | 0.31× | 1.67× | ||
| Q2 24 | — | 1.62× | ||
| Q1 24 | 0.36× | 1.61× |
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 | $235.7M |
| 自由现金流经营现金流 - 资本支出 | — | $119.3M |
| 自由现金流率自由现金流/营收 | — | 5.5% |
| 资本支出强度资本支出/营收 | — | 5.4% |
| 现金转化率经营现金流/净利润 | 3.47× | 2.43× |
| 过去12个月自由现金流最近4个季度 | — | $436.0M |
8季度趋势，按日历期对齐
经营现金流BILIPOST
| Q4 25 | $263.1M | $235.7M | ||
| Q3 25 | $283.2M | $301.3M | ||
| Q2 25 | $277.7M | $225.9M | ||
| Q1 25 | $179.4M | $160.7M | ||
| Q4 24 | $191.9M | $310.4M | ||
| Q3 24 | $2.2B | $235.4M | ||
| Q2 24 | — | $272.3M | ||
| Q1 24 | $88.3M | $249.6M |
自由现金流BILIPOST
| Q4 25 | — | $119.3M | ||
| Q3 25 | — | $151.6M | ||
| Q2 25 | — | $94.9M | ||
| Q1 25 | $174.5M | $70.2M | ||
| Q4 24 | — | $171.4M | ||
| Q3 24 | — | $96.2M | ||
| Q2 24 | — | $161.5M | ||
| Q1 24 | — | $150.9M |
自由现金流率BILIPOST
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | 18.1% | 3.6% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 8.3% | ||
| Q1 24 | — | 7.5% |
资本支出强度BILIPOST
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 6.6% | ||
| Q1 25 | 0.5% | 4.6% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | — | 6.9% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | 4.9% |
现金转化率BILIPOST
| Q4 25 | 3.47× | 2.43× | ||
| Q3 25 | 4.30× | 5.91× | ||
| Q2 25 | 9.11× | 2.08× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | — | 2.74× | ||
| Q3 24 | 195.23× | 2.88× | ||
| Q2 24 | — | 2.73× | ||
| Q1 24 | — | 2.57× |
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% |
POST
| Post Consumer Brands Segment | $1.1B | 51% |
| Pet Food | $360.4M | 17% |
| Side Dishes | $221.5M | 10% |
| Weetabix | $137.9M | 6% |
| Other | $122.1M | 6% |
| Nut Butters | $105.8M | 5% |
| Sausage | $53.1M | 2% |
| Cheeseand Dairy | $41.3M | 2% |
| Protein Based Shakes | $29.3M | 1% |
| Bell Ring | $18.1M | 1% |
