Bilibili (BILI) Operating Margin (2017 - 2026)
Bilibili's Operating Margin was 4.70% in Q2 2026, up 1.27 percentage points from 3.43% a year earlier and up 2.46 percentage points from the prior quarter.
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Analysis
Bilibili (BILI) Operating Margin (2017 - 2026) Analysis & Trends
On a trailing twelve-month basis, Bilibili's Operating Margin was 4.44% through Jun 30, 2026, up 3.33 percentage points year-over-year; for FY2025, it was 3.71%, up 8.71 percentage points from FY2024.
- Operating Margin has now increased for three consecutive years, with a five-year change of +29.88 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was -5.01% in FY2024 (+17.47 pp), -22.48% in FY2023 (+15.69 pp), -38.17% in FY2022 (-5.00 pp) and -33.17% in FY2021 (-6.99 pp).
- Quarterly Operating Margin has moved between -111.21% (Q4 2021) and 6.06% (Q4 2025) over five years.
- Compared with a year earlier, Operating Margin has increased for 16 straight quarters, with an average year-over-year change of +10.15 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q4 2022 (a gain of 73.33 percentage points); the worst was Q4 2021 (a drop of 87.69 percentage points).
- Per Business Quant data, BILI's Operating Margin in the three quarters before Q2 2026 was 2.23% (Q1 2026), 6.06% (Q4 2025) and 4.61% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,185.47 Bn | 3,943.00 Bn | 73.85 Bn | 34.03% |
| 2 | Meta Platforms | 1,794.56 Bn | 1,497.08 Bn | 49.47 Bn | 30.88% |
| 3 | Netflix | 292.71 Bn | 252.90 Bn | 6.52 Bn | 33.38% |
| 4 | Alibaba Group Holding | 251.74 Bn | 65.51 Bn | 15.11 Bn | 5.64% |
| 5 | Shopify | 221.57 Bn | 198.76 Bn | 1.71 Bn | 13.62% |
| 6 | Uber Technologies | 142.45 Bn | 114.25 Bn | 6.38 Bn | 13.32% |
| 7 | Booking Holdings | 124.83 Bn | 57.88 Bn | - | 34.00% |
| 8 | PDD Holdings | 113.76 Bn | -130.01 Bn | 9.45 Bn | 24.71% |
| 9 | Spotify Technology | 106.73 Bn | 64.23 Bn | 1.86 Bn | 13.71% |
| 10 | Bilibili | 11.74 Bn | 2.21 Bn | 433.97 Mn | 4.70% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.70% |
| Mar 31, 2026 | 2.23% |
| Dec 31, 2025 | 6.06% |
| Sep 30, 2025 | 4.61% |
| Jun 30, 2025 | 3.43% |
| Mar 31, 2025 | 0.21% |
| Dec 31, 2024 | 1.63% |
| Sep 30, 2024 | -0.91% |
| Jun 30, 2024 | -9.55% |
| Mar 31, 2024 | -14.45% |
| Dec 31, 2023 | -20.55% |
| Sep 30, 2023 | -19.07% |
| Jun 30, 2023 | -24.09% |
| Mar 31, 2023 | -27.12% |
| Dec 31, 2022 | -37.89% |
| Sep 30, 2022 | -31.91% |
| Jun 30, 2022 | -44.63% |
| Mar 31, 2022 | -39.39% |
| Dec 31, 2021 | -34.59% |
| Sep 30, 2021 | -36.07% |
API Access
Bilibili Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=BILI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "BILI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=BILI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();