Invesaro

Stocks Comparison

Bilibili vs Toast: revenue, profit, margins and growth compared

Bilibili brought in $4.3B of revenue in fiscal 2025, Toast $6.2B in fiscal 2025. Revenue changed by +18.1% at Bilibili and +24.1% at Toast on the year before, so Toast grew faster. Bilibili kept 3.9% of its revenue as net profit, Toast 5.6%. Free cash flow was $948.7M at Bilibili and $608M at Toast.

Side by side, latest fiscal year

BILITOST
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.3B$6.2B
Revenue growth+18.1%+24.1%
Net income$170.7M$342M
Net margin3.9%5.6%
Free cash flow$948.7M$608M
Free cash flow margin21.9%9.9%
Earnings per share (diluted)$0.39$0.56
Cash$1.7B$1.4B
Debt$682.9Mn/a
Price to earningsn/a54.3
Market value$6.3B$17.6B
Dividend yieldn/an/a
Rank by revenue in sector#108 of 731 · Technology#84 of 731 · Technology

Over the years

Revenue
BILI FY2018: $600.5MBILI FY2019: $973.6MBILI FY2020: $1.8BBILI FY2021: $3BBILI FY2022: $3.2BBILI FY2023: $3.2BBILI FY2024: $3.7BBILI FY2025: $4.3BTOST FY2019: $665MTOST FY2021: $823MTOST FY2021: $1.7BTOST FY2022: $2.7BTOST FY2023: $3.9BTOST FY2024: $5BTOST FY2025: $6.2BFY18FY19FY20FY21FY22FY23FY24FY25
BILI $4.3BTOST $6.2B
Net income
BILI FY2018: -$89.6MBILI FY2019: -$185.1MBILI FY2020: -$461.6MBILI FY2021: -$1.1BBILI FY2022: -$1.1BBILI FY2023: -$679.2MBILI FY2024: -$184.5MBILI FY2025: $170.7MTOST FY2019: -$209MTOST FY2021: -$248MTOST FY2021: -$487MTOST FY2022: -$275MTOST FY2023: -$246MTOST FY2024: $19MTOST FY2025: $342MFY18FY19FY20FY21FY22FY23FY24FY25
BILI $170.7MTOST $342M
Net margin
BILI FY2018: -14.9%BILI FY2019: -19.0%BILI FY2020: -25.1%BILI FY2021: -35.0%BILI FY2022: -34.2%BILI FY2023: -21.4%BILI FY2024: -5.0%BILI FY2025: 3.9%TOST FY2019: -31.4%TOST FY2021: -30.1%TOST FY2021: -28.6%TOST FY2022: -10.1%TOST FY2023: -6.4%TOST FY2024: 0.4%TOST FY2025: 5.6%FY18FY19FY20FY21FY22FY23FY24FY25
BILI 3.9%TOST 5.6%
Revenue growth
BILI FY2019: +62.1%BILI FY2020: +88.9%BILI FY2021: +65.4%BILI FY2022: +4.4%BILI FY2023: -0.1%BILI FY2024: +15.8%BILI FY2025: +18.1%TOST FY2021: +23.8%TOST FY2021: +107.2%TOST FY2022: +60.2%TOST FY2023: +41.5%TOST FY2024: +28.3%TOST FY2025: +24.1%FY19FY20FY21FY22FY23FY24FY25
BILI +18.1%TOST +24.1%
Free cash flow
BILI FY2018: $64.5MBILI FY2019: -$14.6MBILI FY2020: $23.1MBILI FY2021: -$566.9MBILI FY2022: -$677.3MBILI FY2023: $11.9MBILI FY2024: $760.3MBILI FY2025: $948.7MTOST FY2019: -$135MTOST FY2021: -$153MTOST FY2021: -$10MTOST FY2022: -$172MTOST FY2023: $93MTOST FY2024: $306MTOST FY2025: $608MFY18FY19FY20FY21FY22FY23FY24FY25
BILI $948.7MTOST $608M

Fiscal years as each company reports them; the two may end in different months.

Questions about Bilibili and Toast

Which is bigger by revenue, Bilibili or Toast?

Toast is bigger by revenue: $6.2B in fiscal 2025, against $4.3B for Bilibili in fiscal 2025.

Which keeps more of its revenue as profit, Bilibili or Toast?

Bilibili had a net margin of 3.9% in fiscal 2025; Toast had 5.6% in fiscal 2025.

Which grew revenue faster, Bilibili or Toast?

In their latest fiscal years revenue changed by +18.1% at Bilibili and +24.1% at Toast.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

More comparisons

Compare more companies