vs
哔哩哔哩（BILI）与Rivian Automotive, Inc.（RIVN）财务数据对比。点击上方公司名可切换其他公司
Rivian Automotive, Inc.的季度营收约是哔哩哔哩的1.0倍（$1.3B vs $1.3B），哔哩哔哩净利率更高（6.0% vs -63.1%，领先69.0%），哔哩哔哩同比增速更快（26.2% vs -25.8%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs 3.3%）
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。
Rivian Automotive是2009年成立的美国电动汽车制造商及汽车科技企业，主打基于自研滑板平台打造的电动SUV、皮卡及EDV电动配送货车，旗下R1T皮卡于2021年末正式开启交付，还计划于2023年底前在美国和加拿大布局专属充电网络，其平台可适配新车型也可对外授权使用。
BILI vs RIVN — 直观对比
营收规模更大
RIVN
是对方的1.0倍
$1.3B
营收增速更快
BILI
高出52.0%
-25.8%
净利率更高
BILI
高出69.0%
-63.1%
两年增速更快
BILI
近两年复合增速
3.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.3B |
| 净利润 | $75.7M | $-811.0M |
| 毛利率 | 37.0% | 9.3% |
| 营业利润率 | 5.8% | -64.8% |
| 净利率 | 6.0% | -63.1% |
| 营收同比 | 26.2% | -25.8% |
| 净利润同比 | 143.0% | -9.0% |
| 每股收益（稀释后） | $1.14 | $-0.66 |
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BILIRIVN
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $965.1M | $1.2B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $1.0B | $874.0M | ||
| Q2 24 | $843.1M | $1.2B | ||
| Q1 24 | $784.5M | $1.2B |
净利润BILIRIVN
| Q4 25 | $75.7M | $-811.0M | ||
| Q3 25 | $65.9M | $-1.2B | ||
| Q2 25 | $30.5M | $-1.1B | ||
| Q1 25 | $-1.5M | $-545.0M | ||
| Q4 24 | $-176.0M | $-744.0M | ||
| Q3 24 | $11.4M | $-1.1B | ||
| Q2 24 | $83.7M | $-1.5B | ||
| Q1 24 | $-105.9M | $-1.4B |
毛利率BILIRIVN
| Q4 25 | 37.0% | 9.3% | ||
| Q3 25 | 36.7% | 1.5% | ||
| Q2 25 | 36.5% | -15.8% | ||
| Q1 25 | 36.3% | 16.6% | ||
| Q4 24 | 36.2% | 9.8% | ||
| Q3 24 | 34.9% | -44.9% | ||
| Q2 24 | 29.9% | -38.9% | ||
| Q1 24 | 28.3% | -43.8% |
营业利润率BILIRIVN
| Q4 25 | 5.8% | -64.8% | ||
| Q3 25 | 4.6% | -63.1% | ||
| Q2 25 | 3.4% | -85.5% | ||
| Q1 25 | 0.2% | -52.8% | ||
| Q4 24 | -16.0% | -38.1% | ||
| Q3 24 | 0.9% | -133.8% | ||
| Q2 24 | 9.5% | -118.7% | ||
| Q1 24 | -14.5% | -123.3% |
净利率BILIRIVN
| Q4 25 | 6.0% | -63.1% | ||
| Q3 25 | 6.1% | -75.3% | ||
| Q2 25 | 3.0% | -85.7% | ||
| Q1 25 | -0.2% | -44.0% | ||
| Q4 24 | -17.5% | -42.9% | ||
| Q3 24 | 1.1% | -125.9% | ||
| Q2 24 | 9.9% | -125.8% | ||
| Q1 24 | -13.5% | -120.1% |
每股收益（稀释后）BILIRIVN
| Q4 25 | $1.14 | $-0.66 | ||
| Q3 25 | $1.05 | $-0.96 | ||
| Q2 25 | $0.51 | $-0.97 | ||
| Q1 25 | $0.00 | $-0.48 | ||
| Q4 24 | $0.21 | $-0.67 | ||
| Q3 24 | $-0.03 | $-1.08 | ||
| Q2 24 | $-0.20 | $-1.46 | ||
| 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 | $6.1B |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.2B | $4.6B |
| 总资产 | $5.9B | $14.9B |
| 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BILIRIVN
| Q4 25 | $2.7B | $6.1B | ||
| Q3 25 | $2.4B | $7.1B | ||
| Q2 25 | — | $7.5B | ||
| Q1 25 | $1.9B | $7.2B | ||
| Q4 24 | $1.8B | $7.7B | ||
| Q3 24 | $11.7B | $6.7B | ||
| Q2 24 | — | $7.9B | ||
| Q1 24 | $1.1B | $7.9B |
总债务BILIRIVN
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $700.3M | — | ||
| Q4 24 | $662.5M | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | — | $5.5B | ||
| Q1 24 | $684.5M | $4.4B |
股东权益BILIRIVN
| Q4 25 | $2.2B | $4.6B | ||
| Q3 25 | $2.1B | $5.1B | ||
| Q2 25 | — | $6.1B | ||
| Q1 25 | $2.0B | $6.2B | ||
| Q4 24 | $1.9B | $6.6B | ||
| Q3 24 | $13.7B | $5.9B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | $1.9B | $8.1B |
总资产BILIRIVN
| Q4 25 | $5.9B | $14.9B | ||
| Q3 25 | $5.6B | $15.2B | ||
| Q2 25 | — | $15.6B | ||
| Q1 25 | $4.6B | $15.5B | ||
| Q4 24 | $4.5B | $15.4B | ||
| Q3 24 | $32.0B | $14.3B | ||
| Q2 24 | — | $15.4B | ||
| Q1 24 | $4.2B | $15.7B |
负债/权益比BILIRIVN
| Q4 25 | 0.62× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.34× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | 0.36× | 0.55× |
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 | $-681.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-1.1B |
| 自由现金流率自由现金流/营收 | — | -89.0% |
| 资本支出强度资本支出/营收 | — | 36.0% |
| 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 | — | $-2.5B |
8季度趋势，按日历期对齐
经营现金流BILIRIVN
| Q4 25 | $263.1M | $-681.0M | ||
| Q3 25 | $283.2M | $26.0M | ||
| Q2 25 | $277.7M | $64.0M | ||
| Q1 25 | $179.4M | $-188.0M | ||
| Q4 24 | $191.9M | $1.2B | ||
| Q3 24 | $2.2B | $-876.0M | ||
| Q2 24 | — | $-754.0M | ||
| Q1 24 | $88.3M | $-1.3B |
自由现金流BILIRIVN
| Q4 25 | — | $-1.1B | ||
| Q3 25 | — | $-421.0M | ||
| Q2 25 | — | $-398.0M | ||
| Q1 25 | $174.5M | $-526.0M | ||
| Q4 24 | — | $856.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | — | $-1.0B | ||
| Q1 24 | — | $-1.5B |
自由现金流率BILIRIVN
| Q4 25 | — | -89.0% | ||
| Q3 25 | — | -27.0% | ||
| Q2 25 | — | -30.5% | ||
| Q1 25 | 18.1% | -42.4% | ||
| Q4 24 | — | 49.4% | ||
| Q3 24 | — | -131.9% | ||
| Q2 24 | — | -89.6% | ||
| Q1 24 | — | -126.5% |
资本支出强度BILIRIVN
| Q4 25 | — | 36.0% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 35.5% | ||
| Q1 25 | 0.5% | 27.3% | ||
| Q4 24 | — | 18.9% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | — | 24.4% | ||
| Q1 24 | — | 21.1% |
现金转化率BILIRIVN
| Q4 25 | 3.47× | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 9.11× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 195.23× | — | ||
| Q2 24 | — | — | ||
| Q1 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% |
RIVN
| Automotive Segment | $839.0M | 65% |
| Software And Services Segment | $447.0M | 35% |
| Regulatory Credits | $30.0M | 2% |
