BZ vs DOYU
Kanzhun Ltd. and DouYu International Holdings Ltd., side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | BZ | DOYU |
|---|---|---|
| Revenue | CNY 8.3B | CNY 3.8B |
| Net income | CNY 2.7B | CNY -29.1M |
| Gross margin | 85.1% | 12.8% |
| Net margin | 32.5% | −0.8% |
| Return on equity | 15.7% | −0.9% |
| Diluted EPS | CNY 2.95 | −CNY 0.96 |
| Dividend / share | · | · |
| Payout ratio | 20.2% | −7395.6% |
| Free cash flow | CNY 4.4B | CNY -52.5M |
| Equity | CNY 20.0B | CNY 2.0B |
| Net debt / equity | · | · |
| Current ratio | 4.66× | 2.33× |
| Revenue CAGR 5y | 33.6% | −16.8% |
| Profit CAGR 5y | · | · |
BZ bills 2.2× the revenue of DOYU, and DOYU 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.
7 years side by side
| Fiscal year | BZ | DOYU |
|---|---|---|
| FY2025 | CNY 8.3B | CNY 3.8B |
| FY2024 | CNY 7.4B | CNY 4.3B |
| FY2023 | CNY 6.0B | CNY 5.5B |
| FY2022 | CNY 4.5B | CNY 7.1B |
| FY2021 | CNY 4.3B | CNY 9.2B |
| FY2020 | CNY 1.9B | CNY 9.6B |
| FY2019 | CNY 998.7M | CNY 7.3B |
Bottom line
| Fiscal year | BZ | DOYU |
|---|---|---|
| FY2025 | CNY 2.7B | CNY -29.1M |
| FY2024 | CNY 1.6B | CNY -306.8M |
| FY2023 | CNY 1.1B | CNY 35.5M |
| FY2022 | CNY 107.2M | CNY -75.4M |
| FY2021 | CNY -1.1B | CNY -581.9M |
| FY2020 | CNY -941.9M | CNY 485.5M |
| FY2019 | CNY -502.1M | CNY 39.8M |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 4,448,666,321 | BZ |
| FY2024 | +CNY 3,084,851,544 | BZ |
| FY2023 | +CNY 421,623,443 | BZ |
| FY2022 | −CNY 2,597,176,352 | DOYU |
| FY2021 | −CNY 4,906,202,760 | DOYU |
| FY2020 | −CNY 7,657,514,937 | DOYU |
| FY2019 | −CNY 6,284,510,253 | DOYU |
The higher-revenue side has changed between BZ and DOYU over this period. The gap has narrowed since the earliest year compared.
7 of 9 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +33.3 pp | BZ |
| FY2024 | +28.5 pp | BZ |
| FY2023 | +17.8 pp | BZ |
| FY2022 | +3.6 pp | BZ |
| FY2021 | −18.4 pp | DOYU |
| FY2020 | −52.7 pp | DOYU |
| FY2019 | −50.7 pp | DOYU |
The higher net margin has changed hands between BZ and DOYU over this period.
7 of 9 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BZ's net margin has been more volatile than DOYU's over the 7 comparable fiscal years — 31.7 percentage points of standard deviation against 3.8.
7 of 9 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between BZ and DOYU over these 7 fiscal years — BZ led in 4 and DOYU in 3.
7 of 9 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BZ's return on equity has been more volatile than DOYU's over the 4 comparable fiscal years — 5.3 percentage points of standard deviation against 2.3.
4 of 6 comparable fiscal years — a year missing data on either side is not counted.
Year by year
BZ led in return on equity in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 6 comparable fiscal years — a year missing data on either side is not counted.