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哔哩哔哩（BILI）与罗致恒富（RHI）财务数据对比。点击上方公司名可切换其他公司
罗致恒富的季度营收约是哔哩哔哩的1.0倍（$1.3B vs $1.3B），哔哩哔哩同比增速更快（26.2% vs -5.8%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs -6.1%）
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。
罗致恒富是1948年成立的国际人力资源咨询机构，总部位于加利福尼亚州门洛帕克和圣拉蒙，是全球规模领先的会计与金融领域人才派遣服务商之一，在全球范围内设有超过345个办公点。
BILI vs RHI — 直观对比
营收规模更大
RHI
是对方的1.0倍
$1.3B
营收增速更快
BILI
高出31.9%
-5.8%
两年增速更快
BILI
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $75.7M | — |
| 毛利率 | 37.0% | 37.6% |
| 营业利润率 | 5.8% | 1.7% |
| 净利率 | 6.0% | — |
| 营收同比 | 26.2% | -5.8% |
| 净利润同比 | 143.0% | — |
| 每股收益（稀释后） | $1.14 | $0.32 |
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BILIRHI
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $965.1M | $1.4B | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $1.0B | $1.5B | ||
| Q2 24 | $843.1M | $1.5B | ||
| Q1 24 | $784.5M | $1.5B |
净利润BILIRHI
| Q4 25 | $75.7M | — | ||
| Q3 25 | $65.9M | $42.9M | ||
| Q2 25 | $30.5M | $41.0M | ||
| Q1 25 | $-1.5M | $17.4M | ||
| Q4 24 | $-176.0M | — | ||
| Q3 24 | $11.4M | $65.5M | ||
| Q2 24 | $83.7M | $68.2M | ||
| Q1 24 | $-105.9M | $63.7M |
毛利率BILIRHI
| Q4 25 | 37.0% | 37.6% | ||
| Q3 25 | 36.7% | 37.2% | ||
| Q2 25 | 36.5% | 37.2% | ||
| Q1 25 | 36.3% | 36.9% | ||
| Q4 24 | 36.2% | 38.8% | ||
| Q3 24 | 34.9% | 39.0% | ||
| Q2 24 | 29.9% | 39.2% | ||
| Q1 24 | 28.3% | 38.1% |
营业利润率BILIRHI
| Q4 25 | 5.8% | 1.7% | ||
| Q3 25 | 4.6% | 1.0% | ||
| Q2 25 | 3.4% | 0.1% | ||
| Q1 25 | 0.2% | 2.9% | ||
| Q4 24 | -16.0% | 4.7% | ||
| Q3 24 | 0.9% | 4.1% | ||
| Q2 24 | 9.5% | 5.1% | ||
| Q1 24 | -14.5% | 2.8% |
净利率BILIRHI
| Q4 25 | 6.0% | — | ||
| Q3 25 | 6.1% | 3.2% | ||
| Q2 25 | 3.0% | 3.0% | ||
| Q1 25 | -0.2% | 1.3% | ||
| Q4 24 | -17.5% | — | ||
| Q3 24 | 1.1% | 4.5% | ||
| Q2 24 | 9.9% | 4.6% | ||
| Q1 24 | -13.5% | 4.3% |
每股收益（稀释后）BILIRHI
| Q4 25 | $1.14 | $0.32 | ||
| Q3 25 | $1.05 | $0.43 | ||
| Q2 25 | $0.51 | $0.41 | ||
| Q1 25 | $0.00 | $0.17 | ||
| Q4 24 | $0.21 | $0.53 | ||
| Q3 24 | $-0.03 | $0.64 | ||
| Q2 24 | $-0.20 | $0.66 | ||
| Q1 24 | $-1.80 | $0.61 |
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 | $464.4M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.2B | $1.3B |
| 总资产 | $5.9B | $2.9B |
| 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BILIRHI
| Q4 25 | $2.7B | $464.4M | ||
| Q3 25 | $2.4B | $365.3M | ||
| Q2 25 | — | $380.5M | ||
| Q1 25 | $1.9B | $342.5M | ||
| Q4 24 | $1.8B | $537.6M | ||
| Q3 24 | $11.7B | $570.5M | ||
| Q2 24 | — | $547.4M | ||
| Q1 24 | $1.1B | $540.9M |
总债务BILIRHI
| 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BILIRHI
| Q4 25 | $2.2B | $1.3B | ||
| Q3 25 | $2.1B | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | $2.0B | $1.3B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $13.7B | $1.5B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | $1.9B | $1.5B |
总资产BILIRHI
| Q4 25 | $5.9B | $2.9B | ||
| Q3 25 | $5.6B | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | $4.6B | $2.7B | ||
| Q4 24 | $4.5B | $2.9B | ||
| Q3 24 | $32.0B | $3.0B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | $4.2B | $2.9B |
负债/权益比BILIRHI
| 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 | $182.5M |
| 自由现金流经营现金流 - 资本支出 | — | $170.8M |
| 自由现金流率自由现金流/营收 | — | 13.1% |
| 资本支出强度资本支出/营收 | — | 0.9% |
| 现金转化率经营现金流/净利润 | 3.47× | — |
| 过去12个月自由现金流最近4个季度 | — | $266.8M |
8季度趋势，按日历期对齐
经营现金流BILIRHI
| Q4 25 | $263.1M | $182.5M | ||
| Q3 25 | $283.2M | $77.4M | ||
| Q2 25 | $277.7M | $119.4M | ||
| Q1 25 | $179.4M | $-59.3M | ||
| Q4 24 | $191.9M | $154.8M | ||
| Q3 24 | $2.2B | $129.6M | ||
| Q2 24 | — | $142.0M | ||
| Q1 24 | $88.3M | $-15.9M |
自由现金流BILIRHI
| Q4 25 | — | $170.8M | ||
| Q3 25 | — | $63.6M | ||
| Q2 25 | — | $104.2M | ||
| Q1 25 | $174.5M | $-71.7M | ||
| Q4 24 | — | $140.5M | ||
| Q3 24 | — | $111.8M | ||
| Q2 24 | — | $129.6M | ||
| Q1 24 | — | $-27.7M |
自由现金流率BILIRHI
| Q4 25 | — | 13.1% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | 18.1% | -5.3% | ||
| Q4 24 | — | 10.2% | ||
| Q3 24 | — | 7.6% | ||
| Q2 24 | — | 8.8% | ||
| Q1 24 | — | -1.9% |
资本支出强度BILIRHI
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | 0.5% | 0.9% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.8% |
现金转化率BILIRHI
| Q4 25 | 3.47× | — | ||
| Q3 25 | 4.30× | 1.80× | ||
| Q2 25 | 9.11× | 2.91× | ||
| Q1 25 | — | -3.42× | ||
| Q4 24 | — | — | ||
| Q3 24 | 195.23× | 1.98× | ||
| Q2 24 | — | 2.08× | ||
| Q1 24 | — | -0.25× |
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% |
RHI
| Finance And Accounting | $535.2M | 41% |
| Protiviti | $479.0M | 37% |
| Technology | $156.4M | 12% |
| Permanent Placement Talent Solutions | $102.6M | 8% |
| Other | $29.2M | 2% |
