BILI vs SY
Bilibili Inc. and So-Young International Inc., side by side — 9 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | BILI | SY |
|---|---|---|
| Revenue | CNY 30.3B | CNY 1.5B |
| Net income | CNY 1.2B | CNY -242.3M |
| Gross margin | 36.6% | 47.8% |
| Net margin | 3.9% | −16.2% |
| Return on equity | 8.0% | −14.3% |
| Diluted EPS | CNY 2.74 | · |
| Dividend / share | · | · |
| Payout ratio | · | −7.9% |
| Free cash flow | CNY 6.6B | CNY -302.0M |
| Equity | CNY 15.6B | CNY 1.6B |
| Net debt / equity | −0.27× | −0.24× |
| Current ratio | 1.36× | 1.89× |
| Revenue CAGR 5y | 20.4% | 3.3% |
| Profit CAGR 5y | · | · |
BILI bills 19.9× the revenue of SY, and SY closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
9 years side by side
| Fiscal year | BILI | SY |
|---|---|---|
| FY2025 | CNY 30.3B | CNY 1.5B |
| FY2024 | CNY 26.8B | CNY 1.5B |
| FY2023 | CNY 22.5B | CNY 1.5B |
| FY2022 | CNY 21.9B | CNY 1.3B |
| FY2021 | CNY 19.4B | CNY 1.7B |
| FY2020 | CNY 12.0B | CNY 1.3B |
| FY2019 | CNY 6.8B | CNY 1.2B |
| FY2018 | CNY 4.1B | CNY 617.2M |
| FY2017 | CNY 2.5B | CNY 259.3M |
Bottom line
| Fiscal year | BILI | SY |
|---|---|---|
| FY2025 | CNY 1.2B | CNY -242.3M |
| FY2024 | CNY -1.3B | CNY -589.5M |
| FY2023 | CNY -4.8B | CNY 21.3M |
| FY2022 | CNY -7.5B | CNY -65.6M |
| FY2021 | CNY -6.8B | CNY -8.4M |
| FY2020 | CNY -3.1B | CNY 5.8M |
| FY2019 | CNY -1.3B | CNY 176.7M |
| FY2018 | CNY -565.0M | CNY 55.1M |
| FY2017 | CNY -183.8M | CNY 17.2M |
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 28,824,356,000 | BILI |
| FY2024 | +CNY 25,364,827,000 | BILI |
| FY2023 | +CNY 21,029,958,000 | BILI |
| FY2022 | +CNY 20,641,293,000 | BILI |
| FY2021 | +CNY 17,691,221,000 | BILI |
| FY2020 | +CNY 10,703,988,000 | BILI |
| FY2019 | +CNY 5,626,285,000 | BILI |
| FY2018 | +CNY 3,511,705,000 | BILI |
| FY2017 | +CNY 2,209,144,000 | BILI |
BILI has reported the higher revenue in every one of these 9 fiscal years. The gap has widened since the earliest year compared.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +20.1 pp | BILI |
| FY2024 | +35.0 pp | BILI |
| FY2023 | −23.1 pp | SY |
| FY2022 | −29.0 pp | SY |
| FY2021 | −32.9 pp | SY |
| FY2020 | −25.8 pp | SY |
| FY2019 | −34.6 pp | SY |
| FY2018 | −22.6 pp | SY |
| FY2017 | −14.1 pp | SY |
The higher net margin has changed hands between BILI and SY over this period.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SY's net margin has been more volatile than BILI's over the 9 comparable fiscal years — 15.5 percentage points of standard deviation against 12.5.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between BILI and SY over these 9 fiscal years — BILI led in 2 and SY in 7.
9 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BILI's return on equity has been more volatile than SY's over the 6 comparable fiscal years — 19.8 percentage points of standard deviation against 10.4.
6 of 7 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between BILI and SY over these 6 fiscal years — BILI led in 2 and SY in 4.
6 of 7 comparable fiscal years — a year missing data on either side is not counted.