Bilibili Inc. balance sheet BILI

Annual Quarterly

As of Dec 31, 2025, Bilibili Inc. had total assets of $5.9 billion and total liabilities of $3.7 billion. Total assets were up 31.4% from a year earlier. Stockholders' equity was $2.2 billion. It held $3.3 billion in cash and investments against $682.9 million of total debt, net cash of $2.7 billion. The current ratio, current assets divided by current liabilities, was 1.36.

USD in millions, except ratios and per-share amounts. The percent under a figure is the change from the year before.

Line	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018
Assets
Cash	1,742 +24.1%	1,404 +38.6%	1,013 -31.3%	1,475 +24.9%	1,181 +60.8%	734 -3.5%	761 +49.6%	508
Short-term investments	922 +148.6%	371 -0.8%	374 -44.3%	670 -71.6%	2,363 +359.3%	515 +184.1%	181 +31.7%	137
Long-term investments	681 +27.1%	536 -12.9%	615 -24.9%	819 -5.1%	863 +152.3%	342 +90.4%	180 +26.1%	143
Cash and investments	3,345 +44.8%	2,311 +15.4%	2,002 -32.5%	2,965 -32.7%	4,407 +177.0%	1,591 +41.9%	1,121 +42.2%	789
Receivables	181 +7.9%	168 -24.2%	222 +15.1%	193 -11.2%	217 +34.3%	161 +50.9%	107 +126.8%	47
Total current assets	3,940 +45.6%	2,707 +2.6%	2,638 -25.6%	3,545 -38.0%	5,719 +137.1%	2,412 +62.7%	1,483 +55.7%	953
Property and equipment, net	99 +23.1%	81 -19.8%	101 -43.4%	178 -16.0%	212 +81.5%	117 +57.5%	74 +29.1%	57
Goodwill	403 +7.9%	373 -2.7%	384 -2.9%	395 +7.7%	367 +84.8%	199 +36.6%	145 +6.2%	137
Total assets	5,887 +31.4%	4,480 -4.1%	4,670 -23.0%	6,065 -25.8%	8,168 +123.3%	3,658 +64.1%	2,229 +46.1%	1,526
Liabilities and equity
Accounts payable	786 +19.5%	658 +7.8%	610 -1.9%	622 -9.1%	684 +45.2%	471 +72.3%	273 +43.8%	190
Total current liabilities	2,907 +43.7%	2,022 -20.7%	2,550 +2.9%	2,478 +30.8%	1,894 +67.2%	1,133 +84.6%	614 +27.9%	480
Total liabilities	3,663 +43.8%	2,547 -3.6%	2,642 -31.5%	3,855 -19.0%	4,761 +93.1%	2,465 +117.8%	1,132 +135.9%	480
Stockholders' equity	2,227 +15.2%	1,933 -4.6%	2,027 -8.2%	2,209 -35.1%	3,406 +192.4%	1,165 +15.0%	1,013 +0.2%	1,011
Debt
Debt due within a year	—	—	—	—	193 +1161.5%	15	—	—
Long-term debt	683 +52.7%	447 +491314.3%	0 -100.0%	1,259 -54.9%	2,791 +118.3%	1,278 +160.6%	490	—
Total debt	683 +52.7%	447 +491314.3%	0 -100.0%	1,259 -57.8%	2,984 +130.7%	1,294 +163.7%	490	—
Net cash	2,662 +42.8%	1,864 -6.9%	2,002 +17.4%	1,706 +19.8%	1,423 +378.9%	297 -52.9%	631	—
Ratios
Current ratio	1.36x	1.34x	1.03x	1.43x	3.02x	2.13x	2.42x	1.99x
Debt to equity	0.31x	0.23x	0.00x	0.57x	0.88x	1.11x	0.48x	—
Debt to EBITDA	2.97x	—	—	—	—	—	—	—
Return on equity	7.66%	—	—	—	—	—	—	—
Return on assets	2.90%	—	—	—	—	—	—	—

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except ratios and per-share amounts. Cash and investments adds short-term and long-term marketable securities to cash. Debt due within a year is the borrowings that are not already in long-term debt. Total debt is those borrowings plus lease liabilities. Net cash is cash and investments minus total debt. Return on equity and return on assets divide the trailing twelve months of net income by the balance on that date. Debt to EBITDA uses the trailing twelve months of EBITDA. More on our methodology.

Company profile

Industry: Services-Computer Processing & Data Preparation (SIC 7374)
Listed as: BILI (Nasdaq), BLBLF (OTC)
Fiscal year ends: December 31
Incorporated in: Cayman Islands
Headquarters: Shanghai
SEC filer status: Large accelerated filer
SEC CIK: 1723690

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.