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哔哩哔哩（BILI）与奇富科技（QFIN）财务数据对比。点击上方公司名可切换其他公司
哔哩哔哩的季度营收约是奇富科技的1.7倍（$1.3B vs $731.2M），奇富科技净利率更高（27.5% vs 6.0%，领先21.6%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs 16.4%）
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。
奇富科技（原360数科）是中国头部金融科技企业，主要为持牌金融机构提供智能风控、信贷技术解决方案，服务广大个人消费者及中小微企业，依托大数据、人工智能技术提升金融服务的普惠性与运营效率。
BILI vs QFIN — 直观对比
营收规模更大
BILI
是对方的1.7倍
$731.2M
净利率更高
QFIN
高出21.6%
6.0%
两年增速更快
BILI
近两年复合增速
16.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $731.2M |
| 净利润 | $75.7M | $201.2M |
| 毛利率 | 37.0% | — |
| 营业利润率 | 5.8% | 32.7% |
| 净利率 | 6.0% | 27.5% |
| 营收同比 | 26.2% | — |
| 净利润同比 | 143.0% | — |
| 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BILIQFIN
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.1B | $731.2M | ||
| Q2 25 | $1.0B | $728.1M | ||
| Q1 25 | $965.1M | $646.4M | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | $622.7M | ||
| Q2 24 | $843.1M | $572.4M | ||
| Q1 24 | $784.5M | $575.2M |
净利润BILIQFIN
| Q4 25 | $75.7M | — | ||
| Q3 25 | $65.9M | $201.2M | ||
| Q2 25 | $30.5M | $241.6M | ||
| Q1 25 | $-1.5M | $247.6M | ||
| Q4 24 | $-176.0M | — | ||
| Q3 24 | $11.4M | $256.3M | ||
| Q2 24 | $83.7M | $189.4M | ||
| Q1 24 | $-105.9M | $160.7M |
毛利率BILIQFIN
| Q4 25 | 37.0% | — | ||
| Q3 25 | 36.7% | — | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 36.3% | — | ||
| Q4 24 | 36.2% | — | ||
| Q3 24 | 34.9% | — | ||
| Q2 24 | 29.9% | — | ||
| Q1 24 | 28.3% | — |
营业利润率BILIQFIN
| Q4 25 | 5.8% | — | ||
| Q3 25 | 4.6% | 32.7% | ||
| Q2 25 | 3.4% | 41.0% | ||
| Q1 25 | 0.2% | 42.1% | ||
| Q4 24 | -16.0% | — | ||
| Q3 24 | 0.9% | 52.4% | ||
| Q2 24 | 9.5% | 47.7% | ||
| Q1 24 | -14.5% | 32.8% |
净利率BILIQFIN
| Q4 25 | 6.0% | — | ||
| Q3 25 | 6.1% | 27.5% | ||
| Q2 25 | 3.0% | 33.2% | ||
| Q1 25 | -0.2% | 38.3% | ||
| Q4 24 | -17.5% | — | ||
| Q3 24 | 1.1% | 41.2% | ||
| Q2 24 | 9.9% | 33.1% | ||
| Q1 24 | -13.5% | 27.9% |
每股收益（稀释后）BILIQFIN
| 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 | $6.5B |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.2B | $24.3B |
| 总资产 | $5.9B | $61.4B |
| 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BILIQFIN
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.4B | $6.5B | ||
| Q2 25 | — | $5.3B | ||
| Q1 25 | $1.9B | $8.6B | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | $11.7B | $4.3B | ||
| Q2 24 | — | $6.3B | ||
| Q1 24 | $1.1B | $5.3B |
总债务BILIQFIN
| 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BILIQFIN
| Q4 25 | $2.2B | — | ||
| Q3 25 | $2.1B | $24.3B | ||
| Q2 25 | — | $24.1B | ||
| Q1 25 | $2.0B | $23.1B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $13.7B | $22.9B | ||
| Q2 24 | — | $22.6B | ||
| Q1 24 | $1.9B | $22.1B |
总资产BILIQFIN
| Q4 25 | $5.9B | — | ||
| Q3 25 | $5.6B | $61.4B | ||
| Q2 25 | — | $59.8B | ||
| Q1 25 | $4.6B | $55.6B | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $32.0B | $47.0B | ||
| Q2 24 | — | $47.0B | ||
| Q1 24 | $4.2B | $47.4B |
负债/权益比BILIQFIN
| 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 | $351.4M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 3.47× | 1.75× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流BILIQFIN
| Q4 25 | $263.1M | — | ||
| Q3 25 | $283.2M | $351.4M | ||
| Q2 25 | $277.7M | $366.0M | ||
| Q1 25 | $179.4M | $386.6M | ||
| Q4 24 | $191.9M | — | ||
| Q3 24 | $2.2B | $338.0M | ||
| Q2 24 | — | $269.9M | ||
| Q1 24 | $88.3M | $271.2M |
自由现金流BILIQFIN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $174.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率BILIQFIN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 18.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度BILIQFIN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率BILIQFIN
| Q4 25 | 3.47× | — | ||
| Q3 25 | 4.30× | 1.75× | ||
| Q2 25 | 9.11× | 1.52× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | — | — | ||
| Q3 24 | 195.23× | 1.32× | ||
| Q2 24 | — | 1.43× | ||
| Q1 24 | — | 1.69× |
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% |
QFIN
暂无分部数据
