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BLBLF (Bilibili) Piotroski F-Score : 6 (As of Dec. 12, 2024)


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What is Bilibili Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Bilibili has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Bilibili's Piotroski F-Score or its related term are showing as below:

BLBLF' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 4   Max: 6
Current: 6

During the past 9 years, the highest Piotroski F-Score of Bilibili was 6. The lowest was 1. And the median was 4.


Bilibili Piotroski F-Score Historical Data

The historical data trend for Bilibili's Piotroski F-Score 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.

* Premium members only.

Bilibili Piotroski F-Score Chart

Bilibili Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only 4.00 4.00 3.00 3.00 5.00

Bilibili Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Piotroski F-Score 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 4.00 5.00 5.00 5.00 6.00

Competitive Comparison of Bilibili's Piotroski F-Score

For the Electronic Gaming & Multimedia subindustry, Bilibili's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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's Piotroski F-Score Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Bilibili's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Bilibili's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was -181.575 + -103.943 + -83.904 + -11.237 = $-381 Mil.
Cash Flow from Operations was 0 + 88.551 + 241.297 + 0 = $330 Mil.
Revenue was 889.204 + 786.586 + 844.576 + 1032.451 = $3,553 Mil.
Gross Profit was 232.484 + 222.92 + 252.691 + 359.975 = $1,068 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(4644.519 + 4643.997 + 4200.411 + 4316.994 + 4525.339) / 5 = $4466.252 Mil.
Total Assets at the begining of this year (Sep23) was $4,645 Mil.
Long-Term Debt & Capital Lease Obligation was $0 Mil.
Total Current Assets was $2,641 Mil.
Total Current Liabilities was $2,509 Mil.
Net Income was -214.389 + -91.089 + -215.978 + -185.183 = $-707 Mil.

Revenue was 881.06 + 735.696 + 740.665 + 795.445 = $3,153 Mil.
Gross Profit was 179.232 + 160.201 + 171.41 + 198.744 = $710 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(6781.174 + 6000.053 + 5946.57 + 4872.7 + 4644.519) / 5 = $5649.0032 Mil.
Total Assets at the begining of last year (Sep22) was $6,781 Mil.
Long-Term Debt & Capital Lease Obligation was $422 Mil.
Total Current Assets was $2,569 Mil.
Total Current Liabilities was $2,013 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Bilibili's current Net Income (TTM) was -381. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Bilibili's current Cash Flow from Operations (TTM) was 330. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep23)
=-380.659/4644.519
=-0.08195876

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-706.639/6781.174
=-0.104206

Bilibili's return on assets of this year was -0.08195876. Bilibili's return on assets of last year was -0.104206. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Bilibili's current Net Income (TTM) was -381. Bilibili's current Cash Flow from Operations (TTM) was 330. ==> 330 > -381 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=0.102/4466.252
=2.284E-5

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=421.559/5649.0032
=0.07462538

Bilibili's gearing of this year was 2.284E-5. Bilibili's gearing of last year was 0.07462538. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep24)=Total Current Assets/Total Current Liabilities
=2640.898/2509.45
=1.0523812

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=2569.368/2013.323
=1.27618271

Bilibili's current ratio of this year was 1.0523812. Bilibili's current ratio of last year was 1.27618271. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Bilibili's number of shares in issue this year was 417.849. Bilibili's number of shares in issue last year was 413.983. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1068.07/3552.817
=0.30062624

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=709.587/3152.866
=0.22506094

Bilibili's gross margin of this year was 0.30062624. Bilibili's gross margin of last year was 0.22506094. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep23)
=3552.817/4644.519
=0.76494832

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=3152.866/6781.174
=0.46494398

Bilibili's asset turnover of this year was 0.76494832. Bilibili's asset turnover of last year was 0.46494398. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+1+1+1+0+0+1+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Bilibili has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Bilibili  (OTCPK:BLBLF) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Bilibili Piotroski F-Score Related Terms

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Bilibili Business Description

Address
No. 485 Zhengli Road, Building 3, Guozheng Center, Yangpu District, Shanghai, CHN, 200433
Bilibili is a Chinese online entertainment platform that is best known for its video-sharing site that resembles YouTube. The site was founded in 2009 and started as a long-form video platform for anime, comics, and gaming, or ACG, content that appealed to Gen Z users. Since then, it has expanded its content on the platform to include a broader range of interests that have attracted Chinese users outside of the Gen Z cohort. The firm generates revenue through five main areas: advertising, games, live streaming, value-added services, and e-commerce.