Bilibili Inc. cash flow statement

In fiscal 2025, Bilibili Inc.'s operations generated $994m of cash; it spent $71.4m on capital projects, leaving free cash flow of $923m. It returned $114m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Bilibili Inc.: cash flow statement, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−30	69	112	28	109	−410	−582	38	836	994
Depreciation and amortisation	3	6	15	28	47	83	112	103	77	67
Stock-based pay	55	12	27	25	56	155	155	160	155	163
Capital spending	6	21	44	43	87	150	113	26	65	71
Free cash flow	−36	47	67	−15	22	−560	−696	12	771	923
Free cash flow after stock pay	−91	35	40	−40	−34	−715	−851	−148	616	760
Share buybacks	—	7	—	—	—	—	52	—	16	114

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Bilibili Inc.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Bilibili Inc.