vs
哔哩哔哩（BILI）与Rithm Capital Corp.（RITM）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Rithm Capital Corp.的1.5倍（$1.3B vs $828.2M），Rithm Capital Corp.净利率更高（13.2% vs 6.0%，领先7.3%），Rithm Capital Corp.同比增速更快（508.5% vs 26.2%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs -17.9%）
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。
Rithm Capital Corp.是总部位于美国纽约的投资管理机构，核心业务聚焦房地产投资与另类资产投资，依托专业的投研团队和成熟的市场运营经验，为合作伙伴及投资者提供优质的资产配置解决方案与长期收益回报。
BILI vs RITM — 直观对比
营收规模更大
BILI
是对方的1.5倍
$828.2M
营收增速更快
RITM
高出482.3%
26.2%
净利率更高
RITM
高出7.3%
6.0%
两年增速更快
BILI
近两年复合增速
-17.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $828.2M |
| 净利润 | $75.7M | $109.5M |
| 毛利率 | 37.0% | — |
| 营业利润率 | 5.8% | 29.9% |
| 净利率 | 6.0% | 13.2% |
| 营收同比 | 26.2% | 508.5% |
| 净利润同比 | 143.0% | 27.7% |
| 每股收益（稀释后） | $1.14 | $0.12 |
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BILIRITM
| Q1 26 | — | $828.2M | ||
| Q4 25 | $1.3B | $1.5B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $965.1M | $768.4M | ||
| Q4 24 | $1.0B | $2.1B | ||
| Q3 24 | $1.0B | $619.5M | ||
| Q2 24 | $843.1M | $1.2B |
净利润BILIRITM
| Q1 26 | — | $109.5M | ||
| Q4 25 | $75.7M | $85.0M | ||
| Q3 25 | $65.9M | $221.5M | ||
| Q2 25 | $30.5M | $311.7M | ||
| Q1 25 | $-1.5M | $78.8M | ||
| Q4 24 | $-176.0M | $290.2M | ||
| Q3 24 | $11.4M | $121.7M | ||
| Q2 24 | $83.7M | $235.6M |
毛利率BILIRITM
| Q1 26 | — | — | ||
| 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% | — |
营业利润率BILIRITM
| Q1 26 | — | 29.9% | ||
| Q4 25 | 5.8% | 13.8% | ||
| Q3 25 | 4.6% | 21.4% | ||
| Q2 25 | 3.4% | 25.2% | ||
| Q1 25 | 0.2% | 7.4% | ||
| Q4 24 | -16.0% | 23.8% | ||
| Q3 24 | 0.9% | 7.3% | ||
| Q2 24 | 9.5% | 23.6% |
净利率BILIRITM
| Q1 26 | — | 13.2% | ||
| Q4 25 | 6.0% | 5.7% | ||
| Q3 25 | 6.1% | 20.0% | ||
| Q2 25 | 3.0% | 25.6% | ||
| Q1 25 | -0.2% | 10.3% | ||
| Q4 24 | -17.5% | 14.0% | ||
| Q3 24 | 1.1% | 19.7% | ||
| Q2 24 | 9.9% | 19.2% |
每股收益（稀释后）BILIRITM
| Q1 26 | — | $0.12 | ||
| Q4 25 | $1.14 | $0.09 | ||
| Q3 25 | $1.05 | $0.35 | ||
| Q2 25 | $0.51 | $0.53 | ||
| Q1 25 | $0.00 | $0.07 | ||
| Q4 24 | $0.21 | $0.50 | ||
| Q3 24 | $-0.03 | $0.20 | ||
| Q2 24 | $-0.20 | $0.43 |
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 | — |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.2B | $9.1B |
| 总资产 | $5.9B | $53.4B |
| 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BILIRITM
| Q1 26 | — | — | ||
| Q4 25 | $2.7B | $1.8B | ||
| Q3 25 | $2.4B | $1.6B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | $1.9B | $1.5B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $11.7B | $1.6B | ||
| Q2 24 | — | $1.2B |
总债务BILIRITM
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $35.4B | ||
| Q3 25 | $1.4B | $32.2B | ||
| Q2 25 | — | $31.2B | ||
| Q1 25 | $700.3M | $32.2B | ||
| Q4 24 | $662.5M | $32.6B | ||
| Q3 24 | $4.3B | $29.6B | ||
| Q2 24 | — | $30.1B |
股东权益BILIRITM
| Q1 26 | — | $9.1B | ||
| Q4 25 | $2.2B | $8.4B | ||
| Q3 25 | $2.1B | $8.5B | ||
| Q2 25 | — | $7.9B | ||
| Q1 25 | $2.0B | $7.8B | ||
| Q4 24 | $1.9B | $7.8B | ||
| Q3 24 | $13.7B | $7.7B | ||
| Q2 24 | — | $7.3B |
总资产BILIRITM
| Q1 26 | — | $53.4B | ||
| Q4 25 | $5.9B | $53.1B | ||
| Q3 25 | $5.6B | $47.2B | ||
| Q2 25 | — | $44.3B | ||
| Q1 25 | $4.6B | $45.3B | ||
| Q4 24 | $4.5B | $46.0B | ||
| Q3 24 | $32.0B | $42.3B | ||
| Q2 24 | — | $42.0B |
负债/权益比BILIRITM
| Q1 26 | — | — | ||
| Q4 25 | 0.62× | 4.20× | ||
| Q3 25 | 0.65× | 3.79× | ||
| Q2 25 | — | 3.92× | ||
| Q1 25 | 0.35× | 4.14× | ||
| Q4 24 | 0.34× | 4.18× | ||
| Q3 24 | 0.31× | 3.87× | ||
| Q2 24 | — | 4.10× |
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 | — |
| 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× | — |
| 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BILIRITM
| Q1 26 | — | — | ||
| Q4 25 | $263.1M | $-114.6M | ||
| Q3 25 | $283.2M | $-2.0B | ||
| Q2 25 | $277.7M | $-557.1M | ||
| Q1 25 | $179.4M | $1.4B | ||
| Q4 24 | $191.9M | $-1.8B | ||
| Q3 24 | $2.2B | $768.1M | ||
| Q2 24 | — | $-55.7M |
自由现金流BILIRITM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $174.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率BILIRITM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 18.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度BILIRITM
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率BILIRITM
| Q1 26 | — | — | ||
| Q4 25 | 3.47× | -1.35× | ||
| Q3 25 | 4.30× | -9.22× | ||
| Q2 25 | 9.11× | -1.79× | ||
| Q1 25 | — | 18.03× | ||
| Q4 24 | — | -6.04× | ||
| Q3 24 | 195.23× | 6.31× | ||
| Q2 24 | — | -0.24× |
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% |
RITM
| Servicing revenue, net | $375.1M | 45% |
| Other | $234.9M | 28% |
| Gain on originated residential mortgage loans, held-for-sale, net | $195.0M | 24% |
| Other revenue | $23.3M | 3% |
