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哔哩哔哩（BILI）与Virtu Financial, Inc.（VIRT）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Virtu Financial, Inc.的1.3倍（$1.3B vs $969.9M），Virtu Financial, Inc.净利率更高（14.4% vs 6.0%，领先8.5%），哔哩哔哩同比增速更快（26.2% vs 16.3%），过去两年哔哩哔哩的营收复合增速更高（27.3% vs 22.8%）
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。
Virtu Financial, Inc.是一家总部位于美国的高频交易企业，专注于金融市场的自动化交易业务，拥有行业领先的交易技术研发与落地能力，于2015年在纳斯达克证券交易所正式挂牌上市。
BILI vs VIRT — 直观对比
营收规模更大
BILI
是对方的1.3倍
$969.9M
营收增速更快
BILI
高出9.9%
16.3%
净利率更高
VIRT
高出8.5%
6.0%
两年增速更快
BILI
近两年复合增速
22.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $969.9M |
| 净利润 | $75.7M | $139.9M |
| 毛利率 | 37.0% | — |
| 营业利润率 | 5.8% | 35.4% |
| 净利率 | 6.0% | 14.4% |
| 营收同比 | 26.2% | 16.3% |
| 净利润同比 | 143.0% | 48.7% |
| 每股收益（稀释后） | $1.14 | $1.54 |
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BILIVIRT
| Q4 25 | $1.3B | $969.9M | ||
| Q3 25 | $1.1B | $824.8M | ||
| Q2 25 | $1.0B | $999.6M | ||
| Q1 25 | $965.1M | $837.9M | ||
| Q4 24 | $1.0B | $834.3M | ||
| Q3 24 | $1.0B | $706.8M | ||
| Q2 24 | $843.1M | $693.0M | ||
| Q1 24 | $784.5M | $642.8M |
净利润BILIVIRT
| Q4 25 | $75.7M | $139.9M | ||
| Q3 25 | $65.9M | $77.6M | ||
| Q2 25 | $30.5M | $151.2M | ||
| Q1 25 | $-1.5M | $99.7M | ||
| Q4 24 | $-176.0M | $94.1M | ||
| Q3 24 | $11.4M | $60.0M | ||
| Q2 24 | $83.7M | $66.6M | ||
| Q1 24 | $-105.9M | $55.8M |
毛利率BILIVIRT
| 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% | — | ||
| Q1 24 | 28.3% | — |
营业利润率BILIVIRT
| Q4 25 | 5.8% | 35.4% | ||
| Q3 25 | 4.6% | 21.8% | ||
| Q2 25 | 3.4% | 34.7% | ||
| Q1 25 | 0.2% | 26.7% | ||
| Q4 24 | -16.0% | 24.3% | ||
| Q3 24 | 0.9% | 20.8% | ||
| Q2 24 | 9.5% | 22.4% | ||
| Q1 24 | -14.5% | 21.8% |
净利率BILIVIRT
| Q4 25 | 6.0% | 14.4% | ||
| Q3 25 | 6.1% | 9.4% | ||
| Q2 25 | 3.0% | 15.1% | ||
| Q1 25 | -0.2% | 11.9% | ||
| Q4 24 | -17.5% | 11.3% | ||
| Q3 24 | 1.1% | 8.5% | ||
| Q2 24 | 9.9% | 9.6% | ||
| Q1 24 | -13.5% | 8.7% |
每股收益（稀释后）BILIVIRT
| Q4 25 | $1.14 | $1.54 | ||
| Q3 25 | $1.05 | $0.86 | ||
| Q2 25 | $0.51 | $1.65 | ||
| Q1 25 | $0.00 | $1.08 | ||
| Q4 24 | $0.21 | $1.03 | ||
| Q3 24 | $-0.03 | $0.64 | ||
| Q2 24 | $-0.20 | $0.71 | ||
| Q1 24 | $-1.80 | $0.59 |
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 | $1.1B |
| 总债务越低越好 | $1.4B | $2.0B |
| 股东权益账面价值 | $2.2B | $1.6B |
| 总资产 | $5.9B | $20.2B |
| 负债/权益比越低杠杆越低 | 0.62× | 1.29× |
8季度趋势，按日历期对齐
现金及短期投资BILIVIRT
| Q4 25 | $2.7B | $1.1B | ||
| Q3 25 | $2.4B | $707.9M | ||
| Q2 25 | — | $752.1M | ||
| Q1 25 | $1.9B | $723.6M | ||
| Q4 24 | $1.8B | $872.5M | ||
| Q3 24 | $11.7B | $701.4M | ||
| Q2 24 | — | $684.8M | ||
| Q1 24 | $1.1B | $399.6M |
总债务BILIVIRT
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.4B | $2.0B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | $700.3M | $1.7B | ||
| Q4 24 | $662.5M | $1.7B | ||
| Q3 24 | $4.3B | $1.7B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | $684.5M | $1.7B |
股东权益BILIVIRT
| Q4 25 | $2.2B | $1.6B | ||
| Q3 25 | $2.1B | $1.5B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | $2.0B | $1.3B | ||
| Q4 24 | $1.9B | $1.3B | ||
| Q3 24 | $13.7B | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | $1.9B | $1.2B |
总资产BILIVIRT
| Q4 25 | $5.9B | $20.2B | ||
| Q3 25 | $5.6B | $21.3B | ||
| Q2 25 | — | $19.3B | ||
| Q1 25 | $4.6B | $17.5B | ||
| Q4 24 | $4.5B | $15.4B | ||
| Q3 24 | $32.0B | $14.4B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | $4.2B | $12.8B |
负债/权益比BILIVIRT
| Q4 25 | 0.62× | 1.29× | ||
| Q3 25 | 0.65× | 1.40× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | 0.35× | 1.33× | ||
| Q4 24 | 0.34× | 1.39× | ||
| Q3 24 | 0.31× | 1.41× | ||
| Q2 24 | — | 1.41× | ||
| Q1 24 | 0.36× | 1.42× |
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 | $518.4M |
| 自由现金流经营现金流 - 资本支出 | — | $495.6M |
| 自由现金流率自由现金流/营收 | — | 51.1% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 3.47× | 3.71× |
| 过去12个月自由现金流最近4个季度 | — | $485.6M |
8季度趋势，按日历期对齐
经营现金流BILIVIRT
| Q4 25 | $263.1M | $518.4M | ||
| Q3 25 | $283.2M | $-68.7M | ||
| Q2 25 | $277.7M | $62.8M | ||
| Q1 25 | $179.4M | $15.0M | ||
| Q4 24 | $191.9M | $599.0M | ||
| Q3 24 | $2.2B | $112.1M | ||
| Q2 24 | — | $490.8M | ||
| Q1 24 | $88.3M | $-395.4M |
自由现金流BILIVIRT
| Q4 25 | — | $495.6M | ||
| Q3 25 | — | $-76.7M | ||
| Q2 25 | — | $57.6M | ||
| Q1 25 | $174.5M | $9.2M | ||
| Q4 24 | — | $586.6M | ||
| Q3 24 | — | $106.2M | ||
| Q2 24 | — | $486.9M | ||
| Q1 24 | — | $-398.2M |
自由现金流率BILIVIRT
| Q4 25 | — | 51.1% | ||
| Q3 25 | — | -9.3% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | 18.1% | 1.1% | ||
| Q4 24 | — | 70.3% | ||
| Q3 24 | — | 15.0% | ||
| Q2 24 | — | 70.3% | ||
| Q1 24 | — | -61.9% |
资本支出强度BILIVIRT
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | 0.5% | 0.7% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.4% |
现金转化率BILIVIRT
| Q4 25 | 3.47× | 3.71× | ||
| Q3 25 | 4.30× | -0.89× | ||
| Q2 25 | 9.11× | 0.42× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 6.37× | ||
| Q3 24 | 195.23× | 1.87× | ||
| Q2 24 | — | 7.37× | ||
| Q1 24 | — | -7.08× |
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% |
VIRT
暂无分部数据
