90/100BNetEase financials
Yes. NetEase earned 32.49B CNY of net income over the last twelve months, 27.9% of its revenue. It made a profit in 24 of its 27 fiscal years since 1999. Its last loss was in fiscal year 2001.
- Revenue (TTM)
- 116.52B CNY
- Net income (TTM)
- 32.49B CNY
- Free cash flow (TTM)
- 49.91B CNY
- Cash and short-term investments
- 179.90B CNY
- Total debt
- 12.61B CNY
- Shareholders' equity
- 167.15B CNY
Cash, debt and equity as of 30 Jun 2026.
NetEase earnings
Revenue
EPS
| Period | Report date | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth |
|---|---|---|---|---|---|---|---|---|---|
| Q2 FY2027 | 2.64 | — | — | +49.13% | 4.83B | — | — | +8.94% | |
| Q1 FY2027 | 2.65 | — | — | +4.89% | 4.82B | — | — | +8.78% | |
| Q4 FY2026 | 2.36 | — | — | +50.15% | 4.46B | — | — | +13.25% | |
| Q3 FY2026 | 2.44 | — | — | +17.87% | 4.51B | — | — | +13.11% | |
| Q2 FY2026 | 2.32 | 1.77 | -23.71% | -14.49% | 4.33B | 4.43B | +2.32% | +13.92% | |
| Q1 FY2026 | 2.19 | 2.53 | +15.53% | +4.98% | 4.25B | 4.43B | +4.26% | +11.98% | |
| Q4 FY2025 | 2.03 | 1.57 | -22.66% | -24.15% | 4.11B | 3.94B | -4.09% | +7.50% | |
| Q3 FY2025 | 2.08 | 2.07 | -0.48% | +43.75% | 4.04B | 3.98B | -1.34% | +6.67% | |
| Q2 FY2025 | 2.04 | 2.07 | +1.47% | +24.70% | 3.98B | 3.89B | -2.24% | +10.90% | |
| Q1 FY2025 | 2.01 | 2.41 | +19.90% | +33.15% | 3.99B | 3.96B | -0.84% | +6.65% |
| Period | EPS estimate | Reported EPS | Surprise | EPS growth | Revenue estimate | Reported revenue | Surprise | Revenue growth |
|---|---|---|---|---|---|---|---|---|
| FY2028 | 11.63 | — | — | +8.47% | 20.87B | — | — | +6.79% |
| FY2027 | 10.72 | — | — | +16.08% | 19.55B | — | — | +7.58% |
| FY2026 | 9.23 | — | — | +13.73% | 18.17B | — | — | +15.22% |
| FY2025 | 8.74 | 8.12 | -7.07% | +16.33% | 16.24B | 15.77B | -2.90% | +7.89% |
| FY2024 | 6.76 | 6.98 | +3.19% | -0.57% | 14.56B | 14.62B | +0.42% | +0.66% |
| FY2023 | 6.94 | 7.02 | +1.10% | +37.65% | 14.82B | 14.52B | -2.04% | +1.66% |
| FY2022 | 4.91 | 5.10 | +3.83% | +31.44% | 13.93B | 14.29B | +2.56% | +5.31% |
NetEase growth and profitability
Full income statement- Revenue (TTM)
- 116.52B CNY
- Net income (TTM)
- 32.49B CNY
- Gross margin
- 67.15%
- Operating margin
- 35.23%
- Net margin
- 27.89%
Revenue / Net income
How NetEase makes its money
FY2025, in CNY. Each band is as wide as its money; the percentage is its share of revenue.
FY2025, in CNY. Each band is as wide as its money; the percentage is its share of revenue.
NetEase revenue breakdown
By product
| Segment | Revenue | Share of revenue | Change on the year |
|---|---|---|---|
| Innovative businesses and others | 6.81B | 53.5% | -15.9% |
| Youdao | 5.91B | 46.5% | +5.0% |
Operating and free cash flow
Full cash flow statementNetEase financial health
Full balance sheet- Cash and short-term investments
- 179.90B CNY
- Total debt
- 12.61B CNY
- Net cash
- 167.30B CNY
- Free cash flow (TTM)
- 49.91B CNY
- Current ratio
- 3.45
- Debt to equity
- 0.08
- Piotroski score
- 6 / 9
- Altman Z-score
- 8.10
Cash, debt and free cash flow
Assets, liabilities and equity
NetEase valuation
- Price to earnings ratio (TTM)
- 17.04
- Forward P/E (FY2026)
- 14.02
- Price to sales (TTM)
- 4.72
- Price to book
- 3.29
- EV / EBITDA (TTM)
- 8.45
Capital structure
Valuation over time
NetEase against its own history
Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.
Its peers: Synopsys, Cadence Design Systems, Motorola Solutions, Cloudflare, Corning, and Fortinet, the US Technology companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.
- P/E (today)Below its median17.013.940.6
- Gross marginHighest in 5 years64.3%53.6%64.3%Against its peers: 5 of 7Peers' median 75.7%
- Operating marginHighest in 5 years31.8%18.7%31.8%Against its peers: 1 of 7Peers' median 20.0%
- Net marginHighest in 5 years30.0%19.2%30.0%Against its peers: 1 of 7Peers' median 18.7%
- Return on equityAt its median21.0%17.7%23.7%Against its peers: 3 of 7Peers' median 16.9%
- Free cash flow marginHighest in 5 years42.9%24.9%42.9%Against its peers: 1 of 7Peers' median 20.6%
- Revenue growthBelow its median7.0%1.8%18.9%Against its peers: 7 of 7Peers' median 14.6%
- EPS growthBelow its median13.7%1.5%49.8%Against its peers: 3 of 6Peers' median 7.5%
- Debt to EBITDALowest in 5 years0.15×0.15×1.05×Against its peers: 1 of 7Peers' median 2.76×
- Current ratioHighest in 5 years3.452.243.45Against its peers: 1 of 7Peers' median 1.60
Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.
NetEase dividends
- Annual dividend
- 1.92 CNY
- Dividend yield (indicated)
- 1.48%
- Payout ratio
- 38.58%
- Years of dividend growth
- 8
- Frequency
- Quarterly
- Last payment
- 0.48 CNY
- Last ex-dividend date
- 3 Sept 2026
- Last payment date
- 18 Sept 2026
Dividends per share
NetEase ownership
- Institutions
- 9.15%
- Institutional holders
- 483 (+32)
- Free float
- 99.97%
Who owns the shares
Shares free to trade
Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.
Insider trading
| Quarter | Purchases | Sales | Shares acquired | Shares disposed of |
|---|---|---|---|---|
| Q3 2026 | 0 | 1 | 716.00 | 716.00 |
| Q2 2026 | 0 | 1 | 0.00 | 10.00K |
| Q1 2026 | 0 | 0 | 0.00 | 0.00 |
Shares outstanding
Common questions about NetEase's financials
Source: Financial Modeling Prep