BILIBILI INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 13.97 USD | -5.67% |
|
-3.79% | +14.79% |
| Jun. 07 | JPMorgan Boosts Stake in Hong Kong-Listed Firms By HK$3.3 Billion | MT |
| May. 31 | UBS Upgrades Bilibili to Buy Rating With $18 Price Target | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 42,274 | 194,329 | 113,286 | 64,348 | 35,596 | 41,783 | - | - |
| Enterprise Value (EV) 1 | 37,621 | 190,014 | 102,086 | 60,088 | 27,963 | 35,028 | 32,997 | 30,528 |
| P/E ratio | -32.5 x | -64.2 x | -16.5 x | -8.6 x | -7.4 x | -25.9 x | -1,435 x | 40.1 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 6.24 x | 16.2 x | 5.84 x | 2.94 x | 1.58 x | 1.64 x | 1.46 x | 1.31 x |
| EV / Revenue | 5.55 x | 15.8 x | 5.27 x | 2.74 x | 1.24 x | 1.38 x | 1.16 x | 0.96 x |
| EV / EBITDA | -94.6 x | -134 x | -25.6 x | -12 x | -12 x | 53.5 x | 15.7 x | 9.61 x |
| EV / FCF | -371 x | -128 x | -16.1 x | -9.04 x | -26.3 x | -1,236 x | 18.2 x | 9.27 x |
| FCF Yield | -0.27% | -0.78% | -6.2% | -11.1% | -3.8% | -0.08% | 5.51% | 10.8% |
| Price to Book | 6.03 x | 25.3 x | 5.16 x | 4.23 x | 2.48 x | 3.12 x | 2.98 x | 2.62 x |
| Nbr of stocks (in thousands) | 326,123 | 347,436 | 384,362 | 393,819 | 412,113 | 412,729 | - | - |
| Reference price 2 | 129.6 | 559.3 | 294.7 | 163.4 | 86.37 | 101.2 | 101.2 | 101.2 |
| Announcement Date | 3/17/20 | 2/24/21 | 3/3/22 | 3/2/23 | 3/7/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,778 | 11,999 | 19,384 | 21,899 | 22,528 | 25,439 | 28,559 | 31,795 |
| EBITDA 1 | -397.8 | -1,419 | -3,987 | -5,021 | -2,334 | 655.1 | 2,103 | 3,176 |
| EBIT 1 | -1,495 | -3,141 | -6,429 | -8,358 | -5,064 | -1,937 | -469.1 | 749.2 |
| Operating Margin | -22.06% | -26.18% | -33.17% | -38.17% | -22.48% | -7.61% | -1.64% | 2.36% |
| Earnings before Tax (EBT) 1 | -1,268 | -3,001 | -6,713 | -7,404 | -4,733 | -1,720 | -180 | 875.7 |
| Net income 1 | -1,289 | -3,012 | -6,789 | -7,497 | -4,822 | -1,741 | -127.2 | 970.5 |
| Net margin | -19.02% | -25.1% | -35.03% | -34.23% | -21.41% | -6.84% | -0.45% | 3.05% |
| EPS 2 | -3.990 | -8.710 | -17.87 | -18.99 | -11.67 | -3.910 | -0.0706 | 2.526 |
| Free Cash Flow 1 | -101.5 | -1,486 | -6,334 | -6,650 | -1,064 | -28.33 | 1,818 | 3,294 |
| FCF margin | -1.5% | -12.38% | -32.68% | -30.37% | -4.72% | -0.11% | 6.37% | 10.36% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | 86.44% | 103.73% |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | 339.45% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 3/17/20 | 2/24/21 | 3/3/22 | 3/2/23 | 3/7/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2023 S2 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 5,781 | 5,054 | 4,909 | 5,794 | 6,142 | 5,070 | 5,304 | 5,805 | 6,349 | 12,154 | 5,665 | 6,057 | 6,546 | 7,059 | - | - |
| EBITDA 1 | -1,569 | -1,380 | -1,581 | -1,238 | -821.8 | - | - | - | - | - | - | -23 | 324 | 662 | - | - |
| EBIT 1 | -2,000 | -1,991 | -2,191 | -1,849 | -2,327 | -1,375 | -1,278 | -1,107 | -1,305 | -2,412 | -818.6 | -611 | -258.1 | -88.17 | - | - |
| Operating Margin | -34.59% | -39.39% | -44.63% | -31.91% | -37.89% | -27.12% | -24.09% | -19.07% | -20.55% | -19.84% | -14.45% | -10.09% | -3.94% | -1.25% | - | - |
| Earnings before Tax (EBT) 1 | -2,063 | -2,254 | -1,984 | -1,689 | -1,477 | -597.9 | -1,524 | -1,319 | -1,292 | - | -763.1 | -658.9 | -268.2 | -164.2 | - | - |
| Net income 1 | -2,088 | -2,282 | -2,007 | -1,713 | -1,495 | -627.7 | -1,547 | -1,351 | -1,296 | - | -748.5 | -588.2 | -265.1 | -177.3 | - | - |
| Net margin | -36.12% | -45.15% | -40.88% | -29.57% | -24.33% | -12.38% | -29.16% | -23.28% | -20.42% | - | -13.21% | -9.71% | -4.05% | -2.51% | - | - |
| EPS 2 | -5.340 | -5.800 | -5.080 | -4.340 | -3.770 | -1.530 | -3.740 | -3.260 | -3.130 | - | -1.800 | -1.430 | -0.5389 | -0.3365 | - | - |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 3/3/22 | 6/9/22 | 9/8/22 | 11/29/22 | 3/2/23 | 6/1/23 | 8/17/23 | 11/29/23 | 3/7/24 | 3/7/24 | 5/23/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 4,653 | 4,314 | 11,200 | 4,259 | 7,633 | 6,755 | 8,786 | 11,255 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -101 | -1,486 | -6,334 | -6,650 | -1,064 | -28.3 | 1,818 | 3,294 |
| ROE (net income / shareholders' equity) | -15.2% | -33.5% | -46.3% | -40.6% | -32.6% | -9.32% | 3.24% | 9.53% |
| ROA (Net income/ Total Assets) | -9.91% | -15.3% | -17.9% | -16% | -12.9% | -5.86% | -0.8% | 3.13% |
| Assets 1 | 13,003 | 19,691 | 37,959 | 46,942 | 37,495 | 29,720 | 15,807 | 30,998 |
| Book Value Per Share 2 | 21.50 | 22.10 | 57.10 | 38.60 | 34.80 | 32.40 | 34.00 | 38.60 |
| Cash Flow per Share 2 | 0.6000 | 2.180 | -8.190 | -9.910 | 0.6500 | 5.780 | 9.820 | 10.40 |
| Capex 1 | 1,565 | 2,239 | 3,687 | 2,738 | 1,330 | 2,095 | 2,277 | 2,363 |
| Capex / Sales | 23.09% | 18.66% | 19.02% | 12.5% | 5.9% | 8.24% | 7.97% | 7.43% |
| Announcement Date | 3/17/20 | 2/24/21 | 3/3/22 | 3/2/23 | 3/7/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C
Sell
Buy
Mean consensus
BUY
Number of Analysts
34
Last Close Price
101.2
CNY
Average target price
121.3
CNY
Spread / Average Target
+19.80%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +14.79% | 5.77B | |
| +27.66% | 443B | |
| +31.75% | 276B | |
| +12.57% | 145B | |
| +7.73% | 93.11B | |
| +64.02% | 61.13B | |
| +14.54% | 46.32B | |
| +23.05% | 35.73B | |
| -12.79% | 31.13B | |
| +19.09% | 30.13B |
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- Financials Bilibili Inc.
