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哔哩哔哩（BILI）与RENAISSANCERE HOLDINGS LTD（RNR）财务数据对比。点击上方公司名可切换其他公司
RENAISSANCERE HOLDINGS LTD的季度营收约是哔哩哔哩的1.7倍（$2.2B vs $1.3B），RENAISSANCERE HOLDINGS LTD净利率更高（23.5% vs 6.0%，领先17.5%），哔哩哔哩同比增速更快（26.2% vs -36.8%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs -11.9%）
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。
RenaissanceRe Holdings Ltd是总部位于百慕大的保险及相关商业服务提供商，核心业务覆盖再保险、常规保险两大板块，同时运营风险相关创新投资业务，为全球客户提供专业的风险对冲与保险解决方案。
BILI vs RNR — 直观对比
营收规模更大
RNR
是对方的1.7倍
$1.3B
营收增速更快
BILI
高出62.9%
-36.8%
净利率更高
RNR
高出17.5%
6.0%
两年增速更快
BILI
近两年复合增速
-11.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $2.2B |
| 净利润 | $75.7M | $515.8M |
| 毛利率 | 37.0% | — |
| 营业利润率 | 5.8% | — |
| 净利率 | 6.0% | 23.5% |
| 营收同比 | 26.2% | -36.8% |
| 净利润同比 | 143.0% | 72.6% |
| 每股收益（稀释后） | $1.14 | $6.57 |
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BILIRNR
| Q1 26 | — | $2.2B | ||
| Q4 25 | $1.3B | $3.0B | ||
| Q3 25 | $1.1B | $3.2B | ||
| Q2 25 | $1.0B | $3.2B | ||
| Q1 25 | $965.1M | $3.5B | ||
| Q4 24 | $1.0B | $2.3B | ||
| Q3 24 | $1.0B | $4.0B | ||
| Q2 24 | $843.1M | $2.8B |
净利润BILIRNR
| Q1 26 | — | $515.8M | ||
| Q4 25 | $75.7M | $760.5M | ||
| Q3 25 | $65.9M | $916.5M | ||
| Q2 25 | $30.5M | $835.4M | ||
| Q1 25 | $-1.5M | $170.0M | ||
| Q4 24 | $-176.0M | $-189.7M | ||
| Q3 24 | $11.4M | $1.2B | ||
| Q2 24 | $83.7M | $503.9M |
毛利率BILIRNR
| 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BILIRNR
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 42.5% | ||
| Q3 25 | 4.6% | 46.3% | ||
| Q2 25 | 3.4% | 41.8% | ||
| Q1 25 | 0.2% | -2.0% | ||
| Q4 24 | -16.0% | -3.6% | ||
| Q3 24 | 0.9% | 43.7% | ||
| Q2 24 | 9.5% | 25.0% |
净利率BILIRNR
| Q1 26 | — | 23.5% | ||
| Q4 25 | 6.0% | 25.6% | ||
| Q3 25 | 6.1% | 28.7% | ||
| Q2 25 | 3.0% | 26.1% | ||
| Q1 25 | -0.2% | 4.9% | ||
| Q4 24 | -17.5% | -8.3% | ||
| Q3 24 | 1.1% | 29.8% | ||
| Q2 24 | 9.9% | 17.8% |
每股收益（稀释后）BILIRNR
| Q1 26 | — | $6.57 | ||
| Q4 25 | $1.14 | $16.16 | ||
| Q3 25 | $1.05 | $19.40 | ||
| Q2 25 | $0.51 | $17.20 | ||
| Q1 25 | $0.00 | $3.27 | ||
| Q4 24 | $0.21 | $-3.76 | ||
| Q3 24 | $-0.03 | $22.62 | ||
| Q2 24 | $-0.20 | $9.41 |
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 | $1.6B |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $2.2B | $4.3B |
| 总资产 | $5.9B | $53.7B |
| 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BILIRNR
| Q1 26 | — | $1.6B | ||
| Q4 25 | $2.7B | $1.7B | ||
| Q3 25 | $2.4B | $1.7B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | $1.9B | $1.6B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $11.7B | $1.6B | ||
| Q2 24 | — | $1.6B |
总债务BILIRNR
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $2.3B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | $700.3M | $2.8B | ||
| Q4 24 | $662.5M | $1.9B | ||
| Q3 24 | $4.3B | $1.9B | ||
| Q2 24 | — | $2.0B |
股东权益BILIRNR
| Q1 26 | — | $4.3B | ||
| Q4 25 | $2.2B | $11.6B | ||
| Q3 25 | $2.1B | $11.5B | ||
| Q2 25 | — | $10.8B | ||
| Q1 25 | $2.0B | $10.3B | ||
| Q4 24 | $1.9B | $10.6B | ||
| Q3 24 | $13.7B | $11.2B | ||
| Q2 24 | — | $10.2B |
总资产BILIRNR
| Q1 26 | — | $53.7B | ||
| Q4 25 | $5.9B | $53.8B | ||
| Q3 25 | $5.6B | $54.5B | ||
| Q2 25 | — | $54.7B | ||
| Q1 25 | $4.6B | $53.6B | ||
| Q4 24 | $4.5B | $50.7B | ||
| Q3 24 | $32.0B | $52.8B | ||
| Q2 24 | — | $51.6B |
负债/权益比BILIRNR
| Q1 26 | — | — | ||
| Q4 25 | 0.62× | 0.20× | ||
| Q3 25 | 0.65× | 0.19× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | 0.35× | 0.27× | ||
| Q4 24 | 0.34× | 0.18× | ||
| Q3 24 | 0.31× | 0.17× | ||
| Q2 24 | — | 0.19× |
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BILIRNR
| Q1 26 | — | — | ||
| Q4 25 | $263.1M | $483.0M | ||
| Q3 25 | $283.2M | $1.6B | ||
| Q2 25 | $277.7M | $1.5B | ||
| Q1 25 | $179.4M | $157.8M | ||
| Q4 24 | $191.9M | $778.9M | ||
| Q3 24 | $2.2B | $1.5B | ||
| Q2 24 | — | $1.2B |
自由现金流BILIRNR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $174.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
自由现金流率BILIRNR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 18.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
资本支出强度BILIRNR
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金转化率BILIRNR
| Q1 26 | — | — | ||
| Q4 25 | 3.47× | 0.64× | ||
| Q3 25 | 4.30× | 1.73× | ||
| Q2 25 | 9.11× | 1.76× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | — | ||
| Q3 24 | 195.23× | 1.26× | ||
| Q2 24 | — | 2.41× |
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% |
RNR
暂无分部数据
