vs
哔哩哔哩（BILI）与SKYWEST INC（SKYW）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SKYWEST INC的1.3倍（$1.3B vs $1.0B），SKYWEST INC净利率更高（10.0% vs 6.0%，领先4.1%），哔哩哔哩同比增速更快（26.2% vs 6.8%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs 8.1%）
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。
天西航空（SkyWest Inc.）是总部位于美国犹他州圣乔治的控股企业，旗下主营北美支线航空公司天西航空，同时运营飞机租赁业务，是北美区域航空运营领域的重要参与者。
BILI vs SKYW — 直观对比
营收规模更大
BILI
是对方的1.3倍
$1.0B
营收增速更快
BILI
高出19.3%
6.8%
净利率更高
SKYW
高出4.1%
6.0%
两年增速更快
BILI
近两年复合增速
8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.0B |
| 净利润 | $75.7M | $101.7M |
| 毛利率 | 37.0% | — |
| 营业利润率 | 5.8% | 12.2% |
| 净利率 | 6.0% | 10.0% |
| 营收同比 | 26.2% | 6.8% |
| 净利润同比 | 143.0% | 1.1% |
| 每股收益（稀释后） | $1.14 | $2.50 |
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BILISKYW
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.3B | $1.0B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.0B | $1.0B | ||
| Q1 25 | $965.1M | $948.5M | ||
| Q4 24 | $1.0B | $944.4M | ||
| Q3 24 | $1.0B | $912.8M | ||
| Q2 24 | $843.1M | $867.1M |
净利润BILISKYW
| Q1 26 | — | $101.7M | ||
| Q4 25 | $75.7M | $91.2M | ||
| Q3 25 | $65.9M | $116.4M | ||
| Q2 25 | $30.5M | $120.3M | ||
| Q1 25 | $-1.5M | $100.6M | ||
| Q4 24 | $-176.0M | $97.4M | ||
| Q3 24 | $11.4M | $89.7M | ||
| Q2 24 | $83.7M | $75.6M |
毛利率BILISKYW
| 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BILISKYW
| Q1 26 | — | 12.2% | ||
| Q4 25 | 5.8% | 13.1% | ||
| Q3 25 | 4.6% | 16.6% | ||
| Q2 25 | 3.4% | 16.4% | ||
| Q1 25 | 0.2% | 14.7% | ||
| Q4 24 | -16.0% | 15.3% | ||
| Q3 24 | 0.9% | 14.4% | ||
| Q2 24 | 9.5% | 13.8% |
净利率BILISKYW
| Q1 26 | — | 10.0% | ||
| Q4 25 | 6.0% | 8.9% | ||
| Q3 25 | 6.1% | 11.1% | ||
| Q2 25 | 3.0% | 11.6% | ||
| Q1 25 | -0.2% | 10.6% | ||
| Q4 24 | -17.5% | 10.3% | ||
| Q3 24 | 1.1% | 9.8% | ||
| Q2 24 | 9.9% | 8.7% |
每股收益（稀释后）BILISKYW
| Q1 26 | — | $2.50 | ||
| Q4 25 | $1.14 | $2.21 | ||
| Q3 25 | $1.05 | $2.81 | ||
| Q2 25 | $0.51 | $2.91 | ||
| Q1 25 | $0.00 | $2.42 | ||
| Q4 24 | $0.21 | $2.34 | ||
| Q3 24 | $-0.03 | $2.16 | ||
| Q2 24 | $-0.20 | $1.82 |
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 | $1.8B |
| 股东权益账面价值 | $2.2B | $2.7B |
| 总资产 | $5.9B | $7.3B |
| 负债/权益比越低杠杆越低 | 0.62× | 0.66× |
8季度趋势，按日历期对齐
现金及短期投资BILISKYW
| Q1 26 | — | — | ||
| Q4 25 | $2.7B | $122.7M | ||
| Q3 25 | $2.4B | $44.5M | ||
| Q2 25 | — | $48.3M | ||
| Q1 25 | $1.9B | $179.0M | ||
| Q4 24 | $1.8B | $227.4M | ||
| Q3 24 | $11.7B | $177.6M | ||
| Q2 24 | — | $141.8M |
总债务BILISKYW
| Q1 26 | — | $1.8B | ||
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $2.4B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | $700.3M | $2.6B | ||
| Q4 24 | $662.5M | $2.7B | ||
| Q3 24 | $4.3B | $2.7B | ||
| Q2 24 | — | $2.8B |
股东权益BILISKYW
| Q1 26 | — | $2.7B | ||
| Q4 25 | $2.2B | $2.7B | ||
| Q3 25 | $2.1B | $2.7B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | $2.0B | $2.5B | ||
| Q4 24 | $1.9B | $2.4B | ||
| Q3 24 | $13.7B | $2.3B | ||
| Q2 24 | — | $2.2B |
总资产BILISKYW
| Q1 26 | — | $7.3B | ||
| Q4 25 | $5.9B | $7.4B | ||
| Q3 25 | $5.6B | $7.2B | ||
| Q2 25 | — | $7.2B | ||
| Q1 25 | $4.6B | $7.1B | ||
| Q4 24 | $4.5B | $7.1B | ||
| Q3 24 | $32.0B | $7.0B | ||
| Q2 24 | — | $7.0B |
负债/权益比BILISKYW
| Q1 26 | — | 0.66× | ||
| Q4 25 | 0.62× | — | ||
| Q3 25 | 0.65× | 0.89× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | 0.35× | 1.03× | ||
| Q4 24 | 0.34× | 1.11× | ||
| Q3 24 | 0.31× | 1.17× | ||
| Q2 24 | — | 1.25× |
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BILISKYW
| Q1 26 | — | — | ||
| Q4 25 | $263.1M | $231.5M | ||
| Q3 25 | $283.2M | $280.8M | ||
| Q2 25 | $277.7M | $257.1M | ||
| Q1 25 | $179.4M | $171.0M | ||
| Q4 24 | $191.9M | $185.9M | ||
| Q3 24 | $2.2B | $183.6M | ||
| Q2 24 | — | $165.3M |
自由现金流BILISKYW
| Q1 26 | — | — | ||
| Q4 25 | — | $224.3M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $251.5M | ||
| Q1 25 | $174.5M | $162.6M | ||
| Q4 24 | — | $162.7M | ||
| Q3 24 | — | $172.1M | ||
| Q2 24 | — | $159.4M |
自由现金流率BILISKYW
| Q1 26 | — | — | ||
| Q4 25 | — | 21.9% | ||
| Q3 25 | — | 25.7% | ||
| Q2 25 | — | 24.3% | ||
| Q1 25 | 18.1% | 17.1% | ||
| Q4 24 | — | 17.2% | ||
| Q3 24 | — | 18.9% | ||
| Q2 24 | — | 18.4% |
资本支出强度BILISKYW
| Q1 26 | — | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | 0.5% | 0.9% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | 0.7% |
现金转化率BILISKYW
| Q1 26 | — | — | ||
| Q4 25 | 3.47× | 2.54× | ||
| Q3 25 | 4.30× | 2.41× | ||
| Q2 25 | 9.11× | 2.14× | ||
| Q1 25 | — | 1.70× | ||
| Q4 24 | — | 1.91× | ||
| Q3 24 | 195.23× | 2.05× | ||
| Q2 24 | — | 2.19× |
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% |
SKYW
| Flying agreements | $977.9M | 97% |
| Lease, airport services and other | $35.3M | 3% |
