Bilibili (BILI) Gross Margin (2017 - 2026)
Bilibili (BILI) posted quarterly Gross Margin of 37.11% for Q1 2026, up 86.0% year-over-year from 19.95% in Q1 2025, and little changed quarter-over-quarter from 37.03% in Q4 2025.
Bilibili (BILI) Gross Margin (2017 - 2026) Analysis & Trends
Bilibili's Gross Margin history runs 10 years deep, the most recent figure standing at 37.11% for Q1 2026.
- In Q1 2026, Gross Margin rose 86.0% year-over-year to 37.11%; the TTM figure through Mar 2026 stood at 36.83% (up 236.0% YoY), while the FY2025 annual figure was 36.62%, up 392.0% from the prior year.
- Gross Margin for Q1 2026 stood at 37.11%, roughly flat from 37.03% in the prior quarter.
- The five-year high for Gross Margin was 37.11% in Q1 2026, with the low at 15.04% in Q2 2022.
- The 5-year median for Gross Margin is 28.34% (2024), against an average of 28.14%.
- The sharpest annual moves came in 2022 and 2024: Gross Margin plunged 807 bps in 2022, then surged 991 bps in 2024.
- Bilibili's Gross Margin stood at 20.34% in 2022, then gained by 29 bps to 26.15% in 2023, then soared by 38 bps to 36.05% in 2024, then increased by 3 bps to 37.03% in 2025, then increased by 0 bps to 37.11% in 2026.
- Business Quant data shows BILI's Gross Margin at 37.11% in Q1 2026, 37.03% in Q4 2025, and 36.67% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,165.61 Bn | 3,736.57 Bn | 73.85 Bn | 61.65% |
| 2 | Meta Platforms | 1,523.46 Bn | 1,433.20 Bn | 49.47 Bn | 81.37% |
| 3 | Taboola.com | 1,141.85 Bn | 1,141.71 Bn | 139.48 Mn | 29.25% |
| 4 | Baidu | 288.34 Bn | 283.85 Bn | 1.88 Mn | 0.04% |
| 5 | Spotify Technology | 103.44 Bn | 93.20 Bn | 1.75 Bn | 32.98% |
| 6 | Joyy | 77.39 Bn | 76.50 Bn | 205.64 Mn | 35.34% |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 75.52% |
| 8 | Nebius | 50.20 Bn | 40.57 Bn | 295.20 Mn | 73.98% |
| 9 | 30.00 Bn | 27.22 Bn | 734.60 Mn | 91.27% | |
| 10 | Bilibili | 7.55 Bn | 5.25 Bn | 400.37 Mn | 37.11% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 37.11% |
| Dec 31, 2025 | 37.03% |
| Sep 30, 2025 | 36.67% |
| Jun 30, 2025 | 36.47% |
| Mar 31, 2025 | 36.26% |
| Dec 31, 2024 | 36.05% |
| Sep 30, 2024 | 34.87% |
| Jun 30, 2024 | 29.92% |
| Mar 31, 2024 | 28.34% |
| Dec 31, 2023 | 26.15% |
| Sep 30, 2023 | 24.99% |
| Jun 30, 2023 | 23.14% |
| Mar 31, 2023 | 21.78% |
| Dec 31, 2022 | 20.34% |
| Sep 30, 2022 | 18.20% |
| Jun 30, 2022 | 15.04% |
| Mar 31, 2022 | 15.97% |
| Dec 31, 2021 | 18.99% |
| Sep 30, 2021 | 19.56% |
| Jun 30, 2021 | 22.00% |