Bilibili Inc. (BILI) Financial Statements

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Bilibili financial statements at a glance

Bilibili reported revenue of 30.35 billion CNY for fiscal year 2025 (ended December 31, 2025), up 13.1% from fiscal year 2024. Net income was 1.19 billion CNY, a net margin of 3.9%.

At the end of fiscal year 2025 it had total assets of 41.17 billion CNY, total liabilities of 25.62 billion CNY and shareholders' equity of 15.57 billion CNY, with cash and short-term investments of 24.15 billion CNY and total debt of 9.79 billion CNY.

Its operations brought in 7.15 billion CNY of cash; capital spending was 1.83 billion CNY, leaving free cash flow of 5.32 billion CNY.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in CNY; latest fiscal year ended December 31, 2025.

BILI logo

Bilibili Inc.

BILIChina
Technology
CNY (Local)

Income Statement

Annual • CNY

Total Revenue
30.35B
Prev Year: 26.83B
YoY: +13.1%
Operating Revenue
30.35B
Prev Year: 26.83B
YoY: +13.1%
Tax Rate for Calcs
0.014
Prev Year: 0
Tax Effect of Unusual Items
-4.51M
Prev Year: -15.07M
YoY: +70.0%
Noncontrolling Interests
2.59M
Prev Year: 16.85M
YoY: -84.6%
Special Income Charges
-2.0K
Prev Year: -38.63M
YoY: +100.0%
Other Special Charges
2.0K
Prev Year: 38.63M
YoY: -100.0%
Cost of Revenue
19.23B
Prev Year: 18.06B
YoY: +6.5%
Gross Profit
11.11B
Prev Year: 8.77B
YoY: +26.7%
Operating Expense
9.99B
Prev Year: 10.12B
YoY: -1.3%
Selling General and Administrative
6.46B
Prev Year: 6.43B
YoY: +0.4%
General and Administrative Expense
2.06B
Prev Year: 2.03B
YoY: +1.5%
Other General and Administrative
2.06B
Prev Year: 2.03B
YoY: +1.5%
Selling and Marketing Expense
4.39B
Prev Year: 4.40B
YoY: -0.2%
Research and Development
3.53B
Prev Year: 3.69B
YoY: -4.1%
Operating Income
1.12B
Prev Year: -1.34B
YoY: +183.7%
Net Non Operating Interest Income Expense
281.27M
Prev Year: 345.79M
YoY: -18.7%
Non-operating Interest Income
431.85M
Prev Year: 434.98M
YoY: -0.7%
Non-operating Interest Expense
150.57M
Prev Year: 89.19M
YoY: +68.8%
Other Income Expense
-197.64M
Prev Year: -402.01M
YoY: +50.8%
Gain on Sale of Securities
-322.46M
Prev Year: -538.80M
YoY: +40.2%
Other Non-operating Income (expense)
124.82M
Prev Year: 175.41M
YoY: -28.8%
Pre-tax Income
1.21B
Prev Year: -1.40B
YoY: +186.3%
Provision for Income Taxes
17.14M
Prev Year: -36.54M
YoY: +146.9%
Net Income Common Stockholders
1.19B
Prev Year: -1.35B
YoY: +188.6%
Net Income
1.19B
Prev Year: -1.35B
YoY: +188.6%
Net Income Including Non-Controlling Interests
1.19B
Prev Year: -1.36B
YoY: +187.3%
Net Income from Continuing Operations
1.19B
Prev Year: -1.36B
YoY: +187.3%
Diluted NI Available to Com Stockholders
1.19B
Prev Year: -1.35B
YoY: +188.6%
Total Operating Income as Reported
1.12B
Prev Year: -1.34B
YoY: +183.7%
Basic EPS
-
Total Expenses
29.22B
Prev Year: 28.18B
YoY: +3.7%
Diluted EPS
-
Net Income from Continuing and Discontinued Operation
1.19B
Prev Year: -1.35B
YoY: +188.6%
Weighted Average Shares (basic)
-
Normalized Income
1.51B
Prev Year: -784.45M
YoY: +292.7%
Weighted Average Shares (diluted)
-
Interest Income
431.85M
Prev Year: 434.98M
YoY: -0.7%
Interest Expense
150.57M
Prev Year: 89.19M
YoY: +68.8%
Net Interest Income
281.27M
Prev Year: 345.79M
YoY: -18.7%
EBIT
1.36B
Prev Year: -1.31B
YoY: +203.6%
EBITDA
3.55B
Prev Year: 1.19B
YoY: +198.0%
Reconciled Cost of Revenue
19.23B
Prev Year: 18.06B
YoY: +6.5%
Reconciled Depreciation
2.19B
Prev Year: 2.50B
YoY: -12.5%
Net Income from Continuing Operation Net Minority Interest
1.19B
Prev Year: -1.35B
YoY: +188.6%
Total Unusual Items Excluding Goodwill
-322.46M
Prev Year: -577.42M
YoY: +44.2%
Total Unusual Items
-322.46M
Prev Year: -577.42M
YoY: +44.2%
Normalized EBITDA
3.87B
Prev Year: 1.77B
YoY: +118.9%
Values in CNY

Bilibili key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue30.3B CNY26.8B CNY22.5B CNY21.9B CNY19.4B CNY
Gross profit11.1B CNY8.8B CNY5.4B CNY3.8B CNY4.0B CNY
Operating income1.1B CNY-1.3B CNY-5.1B CNY-8.4B CNY-6.4B CNY
Net income1.2B CNY-1.3B CNY-4.8B CNY-7.5B CNY-6.8B CNY
Diluted EPS––-11.67 CNY-18.99 CNY-17.87 CNY
Total assets41.2B CNY32.7B CNY33.2B CNY41.8B CNY52.1B CNY
Total liabilities25.6B CNY18.6B CNY18.8B CNY26.6B CNY30.3B CNY
Shareholders' equity15.6B CNY14.1B CNY14.4B CNY15.2B CNY21.7B CNY
Cash and short-term investments24.2B CNY16.5B CNY15.0B CNY19.6B CNY30.2B CNY
Total debt9.8B CNY5.1B CNY7.6B CNY15.5B CNY19.2B CNY
Operating cash flow7.1B CNY6.0B CNY266.6M CNY-3.9B CNY-2.6B CNY
Capital spending1.8B CNY1.8B CNY1.3B CNY2.7B CNY3.7B CNY
Free cash flow5.3B CNY4.3B CNY-1.1B CNY-6.6B CNY-6.3B CNY

In CNY. Fiscal years as reported by the company; statements on this page go back to fiscal year 2015.

Questions and answers

What was Bilibili's revenue in fiscal year 2025?

30.35 billion CNY, up 13.1% from 26.83 billion CNY in fiscal year 2024.

How much profit does Bilibili make?

Bilibili reported net income of 1.19 billion CNY for fiscal year 2025 (3.9% of revenue); operating income was 1.12 billion CNY.

How much cash and debt does Bilibili have?

At the end of fiscal year 2025: cash and short-term investments of 24.15 billion CNY and total debt of 9.79 billion CNY.

What is Bilibili's free cash flow?

5.32 billion CNY in fiscal year 2025 (operating cash flow of 7.15 billion CNY minus capital spending of 1.83 billion CNY).

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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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