Bilibili (BSP:B1IL34) Cyclically Adjusted PB Ratio: 3.59 (As of Sep. 22, 2026) — Near Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:B1IL34 Bilibili Inc BSP:B1IL34
64 GF Score
Price R$15.56
GF Value R$19.18
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Bilibili Cyclically Adjusted PB Ratio?

Bilibili BSP:B1IL34 +3.49% 64 Cyclically Adjusted PB Ratio is 3.59 as of Sep. 22, 2026, which is 3% below its 10-year median of 3.71. GuruFocus rates BSP:B1IL34 with a GF Score™ of 64/100 and a GF Value™ of R$19.18 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 343 Interactive Media companies, Bilibili ranks worse than 74.34% on this metric.

As of today (2026-09-22), Bilibili's current share price is R$15.56. Bilibili's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was R$4.34. Bilibili's Cyclically Adjusted PB Ratio for today is 3.59.

The historical rank and industry rank for Bilibili's Cyclically Adjusted PB Ratio or its related term are showing as below:

BSP:B1IL34' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 3.3   Med: 3.71   Max: 4.13
Current: 3.36

During the past years, Bilibili's highest Cyclically Adjusted PB Ratio was 4.13. The lowest was 3.30. And the median was 3.71.

BSP:B1IL34's Cyclically Adjusted PB Ratio is ranked worse than
74.34% of 343 companies
in the Interactive Media industry
Industry Median: 1.51 vs BSP:B1IL34: 3.36

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Bilibili's adjusted book value per share data for the three months ended in Jun. 2026 was R$5.765. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is R$4.34 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Bilibili  (BSP:B1IL34) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Bilibili Cyclically Adjusted PB Ratio Related Terms


Bilibili Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Bilibili's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Bilibili Cyclically Adjusted PB Ratio Chart

Bilibili Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Bilibili Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 3.68

BSP:B1IL34 vs BZ, ZG, SNAP: Cyclically Adjusted PB Ratio Comparison

For the Internet Content & Information subindustry, Bilibili's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Bilibili Cyclically Adjusted PB Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Bilibili's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Bilibili's Cyclically Adjusted PB Ratio falls into.


BSP:B1IL34
64GF Score
Bilibili Inc BSP:B1IL34
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bilibili Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Bilibili's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=15.56/4.34
=3.59

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Bilibili's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Bilibili's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=5.765/116.0564*116.0564
=5.765

Current CPI (Jun. 2026) = 116.0564.

Bilibili Quarterly Data

Book Value per Share CPI Adj_Book
201512 -0.235 100.600 -0.271
201612 -0.461 102.600 -0.521
201703 0.000 103.200 0.000
201706 0.000 103.100 0.000
201709 0.000 104.100 0.000
201712 -0.696 104.500 -0.773
201803 -0.767 105.300 -0.845
201806 2.078 104.900 2.299
201809 1.889 106.600 2.057
201812 2.516 106.500 2.742
201903 2.459 107.700 2.650
201906 2.820 107.700 3.039
201909 2.663 109.800 2.815
201912 2.516 111.200 2.626
202003 2.782 112.300 2.875
202006 3.792 110.400 3.986
202009 3.700 111.700 3.844
202012 3.398 111.500 3.537
202103 11.043 112.662 11.376
202106 10.378 111.769 10.776
202109 9.867 112.215 10.205
202112 9.866 113.108 10.123
202203 7.816 114.335 7.934
202206 6.867 114.558 6.957
202209 6.274 115.339 6.313
202212 5.811 115.116 5.858
202303 6.474 115.116 6.527
202306 5.452 114.558 5.523
202309 5.085 115.339 5.117
202312 4.792 114.781 4.845
202403 4.661 115.227 4.695
202406 4.871 114.781 4.925
202409 5.172 115.785 5.184
202412 5.676 114.893 5.733
202503 5.468 115.116 5.513
202506 5.300 114.907 5.353
202509 5.423 115.471 5.450
202512 5.818 115.832 5.829
202603 5.697 116.303 5.685
202606 5.765 116.056 5.765

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 3.59 mean?
Bilibili (BSP:B1IL34) has a Cyclically Adjusted PB Ratio of 3.59 as of Sep. 22, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Bilibili and its competitors. This is near median its historical median of 3.71. Over the past decade, Bilibili's Cyclically Adjusted PB Ratio has ranged from 3.30 to 4.13. According to the industry distribution chart, Bilibili ranks #255 out of 343 companies in the Interactive Media industry, placing it in the top 74.3%.
Is Bilibili's Cyclically Adjusted PB Ratio too high?
Bilibili's current Cyclically Adjusted PB Ratio of 3.59 is near median its 10-year median of 3.71. Over the past 10 years, this metric has ranged from a low of 3.30 to a high of 4.13. The Interactive Media industry median Cyclically Adjusted PB Ratio is 1.51. Bilibili's value of 3.59 is 137.7% above this industry median. Based on the distribution chart, Bilibili ranks #255 out of 343 companies in the Interactive Media industry, which is below the industry midpoint. Overall, Bilibili has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bilibili's Cyclically Adjusted PB Ratio compare to BZ and ZG?
According to the Interactive Media industry distribution chart, Bilibili ranks #255 out of 343 companies for Cyclically Adjusted PB Ratio. This places Bilibili in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.51. Bilibili's value of 3.59 is 137.7% above this benchmark. Historically, Bilibili's own Cyclically Adjusted PB Ratio has ranged from 3.30 to 4.13 over the past decade. While the company's 10-year median is 3.71 vs. the industry median of 1.51, Bilibili has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Interactive Media company?
The median Cyclically Adjusted PB Ratio among Interactive Media companies is 1.51, based on 343 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Bilibili's current Cyclically Adjusted PB Ratio of 3.59 is 137.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Bilibili and its competitors. For the Interactive Media industry, the median Cyclically Adjusted PB Ratio is 1.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bilibili's current Cyclically Adjusted PB Ratio is 3.59, which is near median its own 10-year median of 3.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bilibili stock overvalued right now?
Based on GuruFocus' analysis, Bilibili (BSP:B1IL34) is currently considered Modestly Undervalued. The stock's GF Value™ is R$19.18, compared to a current price of R$15.56 — trading 18.9% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.59, which is near median its 10-year median of 3.71 and 137.7% above the Interactive Media industry median of 1.51. Bilibili's overall GF Score™ is 64/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Bilibili (BSP:B1IL34), the current Cyclically Adjusted PB Ratio is 3.59 as of Sep. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Bilibili (BSP:B1IL34) Overvalued in 2026?

Based on GuruFocus' analysis, Bilibili stock appears to be undervalued. The current stock price of R$15.56 is trading 18.9% below its estimated GF Value™ of R$19.18. GuruFocus considers Bilibili to be Modestly Undervalued.

Key valuation signals for BSP:B1IL34:

  • Cyclically Adjusted PB Ratio: 3.59 (near median its 10-year median of 3.71)
  • GF Value™: R$19.18 vs. price of R$15.56 (18.9% below fair value)
  • GF Score™: 64/100 with 3 warning signs
  • Industry Position: 137.7% above the Interactive Media median (#255 of 343)

No single metric tells the full story. See the BSP:B1IL34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Bilibili Business Description

Address No. 485 Zhengli Road, Building 3, Guozheng Center, Yangpu District, Shanghai, CHN
Bilibili is a Chinese online entertainment platform best known for its YouTube-like video-sharing service. Founded in 2009, it initially focused on long-form content centered around anime, comics, and gaming, or ACG, catering primarily to Generation Z users. Over time, the platform has expanded its content ecosystem to cover a broader range of interests, successfully attracting a more diverse audience beyond its original Gen Z base.
64GF Score

Get the complete analysis for BSP:B1IL34

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$15.56
Price
R$19.18
GF Value