NTES

NetEase
D

NTES

Arincen90/100B

NetEase income statement 1999–2026

116.52B CNY over the last twelve months, and 112.63B CNY in fiscal year 2025.

Revenue Operating income Net income

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Fiscal year
TTM
30 Jun 2026
FY2025
31 Dec 2025
FY2024
31 Dec 2024
FY2023
31 Dec 2023
FY2022
31 Dec 2022
FY2021
31 Dec 2021
FY2020
31 Dec 2020
FY2019
31 Dec 2019
FY2018
31 Dec 2018
FY2017
31 Dec 2017
FY2016
31 Dec 2016
116.52B112.63B105.30B103.47B96.50B87.61B73.67B59.24B51.18B44.44B38.18B
Revenue growth
+6.24%+6.96%+1.77%+7.23%+10.15%+18.92%+24.35%+15.75%+15.17%+16.39%+67.43%
Cost of revenue
38.27B40.22B39.49B40.40B43.73B40.64B34.68B27.69B38.75B28.19B16.52B
Gross profit
78.24B72.40B65.81B63.06B52.77B46.97B38.98B31.56B28.40B25.91B21.66B
Gross margin
67.15%64.29%62.50%60.95%54.68%53.62%52.92%53.27%55.50%58.31%56.74%
Research and development
18.09B17.72B17.52B16.48B15.04B14.08B10.37B8.41B7.79B4.37B3.05B
Selling, general and administrative
19.11B18.85B18.70B18.87B18.10B16.48B14.08B9.35B12.72B9.39B5.99B
Operating expenses
37.20B36.57B36.22B35.35B33.14B30.55B24.44B17.76B20.51B13.76B9.03B
41.04B35.83B29.58B27.71B19.63B16.42B14.54B13.79B9.98B12.99B12.63B
Operating income growth
+19.07%+21.13%+6.77%+41.17%+19.56%+12.92%+5.42%+38.22%-23.22%+2.90%+73.66%
Operating margin
35.23%31.82%28.10%26.78%20.34%18.74%19.74%23.28%19.50%29.24%33.08%
Interest income
4.36B4.62B4.92B4.12B2.15B1.52B1.60B821.77M586.67M667.32M541.97M
Interest expense
———————————
Other non-operating income
-347.83M5.00B6.13B6.35B4.62B4.69B833.68M2.59B1.10B844.67M1.27B
Pretax income
40.70B40.83B35.72B34.06B24.25B21.10B15.37B16.38B11.08B13.84B13.90B
Income tax
7.54B6.03B5.46B4.70B5.03B4.13B3.04B2.91B2.47B2.16B2.10B
Effective tax rate
18.53%14.78%15.29%13.80%20.75%19.56%19.79%17.79%22.27%15.62%15.13%
32.49B33.76B29.70B29.42B20.34B16.86B12.06B21.24B6.15B10.71B11.60B
Net income growth
-5.01%+13.68%+0.96%+44.64%+20.65%+39.74%-43.20%+245.19%-42.54%-7.73%+72.30%
Net margin
27.89%29.98%28.20%28.43%21.08%19.24%16.37%35.85%12.02%24.10%30.40%
Basic shares
639.21M638.36M646.12M650.09M652.69M665.17M661.09M644.09M647.06M658.06M656.35M
645.02M645.58M646.12M650.41M673.50M673.50M669.95M649.99M650.94M663.10M661.42M
Change in diluted shares
+0.13%-0.08%-0.66%-3.43%0.00%+0.53%+3.07%-0.14%-1.83%+0.25%+0.06%
EPS (basic)
50.7052.9045.9545.7531.1525.3518.2520.6012.8016.2517.70
50.2052.2545.9545.2530.2025.0518.0020.4012.7516.1517.55
EPS growth
-5.64%+13.71%+1.55%+49.83%+20.56%+39.17%-11.76%+60.00%-21.05%-7.98%+72.06%
Dividends per share
3.023.042.441.751.520.820.931.960.330.730.59
Dividend growth
+9.21%+24.28%+39.36%+15.33%+85.87%-11.76%-52.68%+489.76%-54.27%+23.89%+64.79%
EBITDA
45.36B43.08B38.14B37.11B27.11B24.38B18.00B16.40B12.04B13.79B12.96B
EBITDA margin
38.93%38.25%36.22%35.87%28.09%27.83%24.43%27.69%23.52%31.03%33.94%
EBIT
43.15B40.83B35.72B34.06B24.25B21.10B14.54B13.79B9.98B12.99B12.63B

Figures in CNY. Shares and EPS are adjusted for stock splits. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.

Common questions about NetEase's income statement

Source: Financial Modeling Prep

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