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哔哩哔哩（BILI）与RPM INTERNATIONAL INC（RPM）财务数据对比。点击上方公司名可切换其他公司
RPM INTERNATIONAL INC的季度营收约是哔哩哔哩的1.5倍（$1.9B vs $1.3B），RPM INTERNATIONAL INC净利率更高（8.4% vs 6.0%，领先2.5%），哔哩哔哩同比增速更快（26.2% vs 3.5%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs 12.0%）
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。
BVS娱乐前身为Saban制作、Saban国际及Saban娱乐，是华特迪士尼公司旗下子公司。1980年4月24日由哈伊姆·萨班与舒基·利维创立，最初主营音乐制作，后逐步转向电视节目制作发行业务，最为知名的是为Fox Family/ABC Family及已停播的Fox Kids、Jetix频道制作发行儿童节目。
BILI vs RPM — 直观对比
营收规模更大
RPM
是对方的1.5倍
$1.3B
营收增速更快
BILI
高出22.7%
3.5%
净利率更高
RPM
高出2.5%
6.0%
两年增速更快
BILI
近两年复合增速
12.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.9B |
| 净利润 | $75.7M | $161.2M |
| 毛利率 | 37.0% | 40.8% |
| 营业利润率 | 5.8% | 11.0% |
| 净利率 | 6.0% | 8.4% |
| 营收同比 | 26.2% | 3.5% |
| 净利润同比 | 143.0% | -12.0% |
| 每股收益（稀释后） | $1.14 | $1.26 |
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BILIRPM
| Q4 25 | $1.3B | $1.9B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.0B | $2.1B | ||
| Q1 25 | $965.1M | $1.5B | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $1.0B | $2.0B | ||
| Q2 24 | $843.1M | $2.0B | ||
| Q1 24 | $784.5M | $1.5B |
净利润BILIRPM
| Q4 25 | $75.7M | $161.2M | ||
| Q3 25 | $65.9M | $227.6M | ||
| Q2 25 | $30.5M | $225.8M | ||
| Q1 25 | $-1.5M | $52.0M | ||
| Q4 24 | $-176.0M | $183.2M | ||
| Q3 24 | $11.4M | $227.7M | ||
| Q2 24 | $83.7M | $180.6M | ||
| Q1 24 | $-105.9M | $61.2M |
毛利率BILIRPM
| Q4 25 | 37.0% | 40.8% | ||
| Q3 25 | 36.7% | 42.3% | ||
| Q2 25 | 36.5% | 42.4% | ||
| Q1 25 | 36.3% | 38.4% | ||
| Q4 24 | 36.2% | 41.4% | ||
| Q3 24 | 34.9% | 42.5% | ||
| Q2 24 | 29.9% | 41.4% | ||
| Q1 24 | 28.3% | 39.9% |
营业利润率BILIRPM
| Q4 25 | 5.8% | 11.0% | ||
| Q3 25 | 4.6% | 14.1% | ||
| Q2 25 | 3.4% | 11.9% | ||
| Q1 25 | 0.2% | 2.8% | ||
| Q4 24 | -16.0% | 11.5% | ||
| Q3 24 | 0.9% | 14.8% | ||
| Q2 24 | 9.5% | 11.9% | ||
| Q1 24 | -14.5% | 5.5% |
净利率BILIRPM
| Q4 25 | 6.0% | 8.4% | ||
| Q3 25 | 6.1% | 10.8% | ||
| Q2 25 | 3.0% | 10.8% | ||
| Q1 25 | -0.2% | 3.5% | ||
| Q4 24 | -17.5% | 9.9% | ||
| Q3 24 | 1.1% | 11.6% | ||
| Q2 24 | 9.9% | 9.0% | ||
| Q1 24 | -13.5% | 4.0% |
每股收益（稀释后）BILIRPM
| Q4 25 | $1.14 | $1.26 | ||
| Q3 25 | $1.05 | $1.77 | ||
| Q2 25 | $0.51 | $1.76 | ||
| Q1 25 | $0.00 | $0.40 | ||
| Q4 24 | $0.21 | $1.42 | ||
| Q3 24 | $-0.03 | $1.77 | ||
| Q2 24 | $-0.20 | $1.40 | ||
| Q1 24 | $-1.80 | $0.47 |
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 | $316.6M |
| 总债务越低越好 | $1.4B | $2.5B |
| 股东权益账面价值 | $2.2B | $3.1B |
| 总资产 | $5.9B | $7.9B |
| 负债/权益比越低杠杆越低 | 0.62× | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资BILIRPM
| Q4 25 | $2.7B | $316.6M | ||
| Q3 25 | $2.4B | $297.1M | ||
| Q2 25 | — | $302.1M | ||
| Q1 25 | $1.9B | $241.9M | ||
| Q4 24 | $1.8B | $268.7M | ||
| Q3 24 | $11.7B | $231.6M | ||
| Q2 24 | — | $237.4M | ||
| Q1 24 | $1.1B | $248.9M |
总债务BILIRPM
| Q4 25 | $1.4B | $2.5B | ||
| Q3 25 | $1.4B | $2.7B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | $700.3M | $2.1B | ||
| Q4 24 | $662.5M | $2.0B | ||
| Q3 24 | $4.3B | $2.0B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | $684.5M | $2.2B |
股东权益BILIRPM
| Q4 25 | $2.2B | $3.1B | ||
| Q3 25 | $2.1B | $3.1B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | $2.0B | $2.7B | ||
| Q4 24 | $1.9B | $2.7B | ||
| Q3 24 | $13.7B | $2.6B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | $1.9B | $2.3B |
总资产BILIRPM
| Q4 25 | $5.9B | $7.9B | ||
| Q3 25 | $5.6B | $7.9B | ||
| Q2 25 | — | $7.8B | ||
| Q1 25 | $4.6B | $6.6B | ||
| Q4 24 | $4.5B | $6.7B | ||
| Q3 24 | $32.0B | $6.6B | ||
| Q2 24 | — | $6.6B | ||
| Q1 24 | $4.2B | $6.4B |
负债/权益比BILIRPM
| Q4 25 | 0.62× | 0.80× | ||
| Q3 25 | 0.65× | 0.87× | ||
| Q2 25 | — | 0.91× | ||
| Q1 25 | 0.35× | 0.78× | ||
| Q4 24 | 0.34× | 0.74× | ||
| Q3 24 | 0.31× | 0.77× | ||
| Q2 24 | — | 0.79× | ||
| Q1 24 | 0.36× | 0.93× |
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 | $345.7M |
| 自由现金流经营现金流 - 资本支出 | — | $296.4M |
| 自由现金流率自由现金流/营收 | — | 15.5% |
| 资本支出强度资本支出/营收 | — | 2.6% |
| 现金转化率经营现金流/净利润 | 3.47× | 2.14× |
| 过去12个月自由现金流最近4个季度 | — | $582.9M |
8季度趋势，按日历期对齐
经营现金流BILIRPM
| Q4 25 | $263.1M | $345.7M | ||
| Q3 25 | $283.2M | $237.5M | ||
| Q2 25 | $277.7M | $149.2M | ||
| Q1 25 | $179.4M | $91.5M | ||
| Q4 24 | $191.9M | $279.4M | ||
| Q3 24 | $2.2B | $248.1M | ||
| Q2 24 | — | $181.2M | ||
| Q1 24 | $88.3M | $173.4M |
自由现金流BILIRPM
| Q4 25 | — | $296.4M | ||
| Q3 25 | — | $175.0M | ||
| Q2 25 | — | $78.2M | ||
| Q1 25 | $174.5M | $33.3M | ||
| Q4 24 | — | $229.5M | ||
| Q3 24 | — | $197.3M | ||
| Q2 24 | — | $105.3M | ||
| Q1 24 | — | $124.6M |
自由现金流率BILIRPM
| Q4 25 | — | 15.5% | ||
| Q3 25 | — | 8.3% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | 18.1% | 2.3% | ||
| Q4 24 | — | 12.4% | ||
| Q3 24 | — | 10.0% | ||
| Q2 24 | — | 5.2% | ||
| Q1 24 | — | 8.2% |
资本支出强度BILIRPM
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | 3.0% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | 0.5% | 3.9% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 3.8% | ||
| Q1 24 | — | 3.2% |
现金转化率BILIRPM
| Q4 25 | 3.47× | 2.14× | ||
| Q3 25 | 4.30× | 1.04× | ||
| Q2 25 | 9.11× | 0.66× | ||
| Q1 25 | — | 1.76× | ||
| Q4 24 | — | 1.53× | ||
| Q3 24 | 195.23× | 1.09× | ||
| Q2 24 | — | 1.00× | ||
| Q1 24 | — | 2.83× |
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% |
RPM
| Construction Products Group Segment | $737.4M | 39% |
| Consumer Segment | $638.6M | 33% |
| Performance Coatings Group Segment | $533.8M | 28% |
