Your Best Stock

NetEase NTES

$117.90
+$0.88 (+0.75%)
Market open · Sep 24, 2:00 pm ET
After hours $117.02 0.00%
Open$119.00
Prev close$117.02
Day range$117.78 – $119.06
Volume185.9K
Market cap$75.24B
P/E (TTM)15.7
Dividend yield2.62%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026 · reported in CNY

RevenueCN¥30.11B+7.9% YoY
Operating profitCN¥12.09B+33.4% YoY
Net profitCN¥7.17B-21.1% YoY
Diluted EPSCN¥10.85-18.7% YoY
Free cash flowCN¥9.89B-4.5% YoY
Operating cash flowCN¥9.97B

Revenue, last 8 quarters

CN¥26.2BSep '24CN¥26.7BDec '24CN¥28.8BMar '25CN¥27.9BJun '25CN¥28.4BSep '25CN¥27.5BDec '25CN¥30.6BMar '26CN¥30.1BJun '26

Net profit, last 8 quarters

CN¥6.7BSep '24CN¥8.9BDec '24CN¥10.5BMar '25CN¥9.1BJun '25CN¥8.8BSep '25CN¥6.4BDec '25CN¥10.8BMar '26CN¥7.2BJun '26

Diluted EPS by quarter

10.15Sep '2413.65Dec '2416.05Mar '2513.35Jun '2513.35Sep '259.65Dec '2516.55Mar '2610.85Jun '26

Free cash flow by quarter

CN¥10.0BSep '24CN¥12.6BDec '24CN¥11.4BMar '25CN¥10.4BJun '25CN¥12.5BSep '25CN¥14.5BDec '25CN¥13.1BMar '26CN¥9.9BJun '26

Annual revenue

CN¥73.7BFY20CN¥87.6BFY21CN¥96.5BFY22CN¥103.5BFY23CN¥105.3BFY24CN¥112.6BFY25

Profitability & balance sheet

Gross margin67.2%
Operating margin35.2%
Net margin27.9%
Return on equity20.5%
Return on assets14.8%
Return on invested capital17.3%
Current ratio3.45
Liabilities / assets26.1%
Cash & investmentsCN¥175.39B
Total debtCN¥12.60B
Net cash (debt)CN¥162.79B
Free cash flow / sales42.9%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Games and related value-added servicesCN¥25.02B 83.1%
  • NetEase Cloud MusicCN¥1.98B 6.6%
  • Innovative businesses and othersCN¥1.64B 5.4%
  • YoudaoCN¥1.47B 4.9%

This company reports in its own local currency, not U.S. dollars. Every figure below is labeled with its real currency, not automatically converted.

Income statement

Line item 2026 Q2
(CNY)
2026 Q1
(CNY)
2025 ANNUAL
(CNY)
2025 Q4
(CNY)
2025 Q3
(CNY)
Total Revenue as Reported CN¥30.11B CN¥30.59B CN¥112.63B CN¥27.55B CN¥28.36B
Total Operating Revenue CN¥30.11B CN¥30.59B CN¥112.63B CN¥27.55B CN¥28.36B
Cost of Revenue CN¥8.89B CN¥9.37B CN¥40.22B CN¥9.85B CN¥10.18B
Gross Profit CN¥21.22B CN¥21.22B CN¥72.40B CN¥17.69B CN¥18.18B
Operating Expense CN¥9.13B CN¥8.56B CN¥36.57B CN¥9.37B CN¥10.16B
Selling and Admin Expenses CN¥4.48B CN¥4.08B CN¥18.85B CN¥4.94B CN¥5.62B
-Selling & Marketing Expense CN¥3.68B CN¥3.44B CN¥14.62B CN¥3.89B CN¥4.46B
-General & Admin Expense CN¥805.27M CN¥636.60M CN¥4.23B CN¥1.05B CN¥1.16B
Research & Development CN¥4.64B CN¥4.48B CN¥17.72B CN¥4.43B CN¥4.54B
Operating Profit CN¥12.09B CN¥12.66B CN¥35.83B CN¥8.32B CN¥8.01B
Net Non-Operating Interest Income (Expense) CN¥863.20M CN¥890.27M CN¥3.95B CN¥1.00B CN¥936.71M
Non-Operating Interest Income CN¥863.20M CN¥890.27M CN¥3.95B CN¥1.00B CN¥936.71M
Other Income (Expense) -CN¥3.33B -CN¥177.66M CN¥1.04B -CN¥1.70B CN¥1.16B
Gain on Sale of Security -CN¥3.39B -CN¥616.64M -CN¥44.43M -CN¥2.19B CN¥1.01B
Other Non-Operating Income (Expenses) CN¥62.86M CN¥438.98M CN¥1.09B CN¥485.86M CN¥153.20M
Pretax Profit CN¥9.63B CN¥13.37B CN¥40.83B CN¥7.62B CN¥10.11B
Tax CN¥2.46B CN¥2.52B CN¥6.03B CN¥1.25B CN¥1.32B
Net Profit CN¥7.17B CN¥10.85B CN¥34.80B CN¥6.37B CN¥8.79B
Profit from Continuing Operations CN¥7.17B CN¥10.85B CN¥34.80B CN¥6.37B CN¥8.79B
Minority Interests CN¥185.90M CN¥171.50M CN¥1.04B CN¥127.99M CN¥176.93M
Net Income to Parent Company CN¥6.98B CN¥10.67B CN¥33.76B CN¥6.24B CN¥8.62B
Net Income to Common Stockholders CN¥6.98B CN¥10.67B CN¥33.76B CN¥6.24B CN¥8.62B
Basic EPS CN¥10.90 CN¥16.70 CN¥52.95 CN¥9.80 CN¥13.50
Diluted EPS CN¥10.85 CN¥16.55 CN¥52.40 CN¥9.65 CN¥13.35
Dividend Per Share CN¥4.87 CN¥8.02 CN¥21.85 CN¥4.03 CN¥4.06

Balance sheet

Line item 2026 Q2
(CNY)
2026 Q1
(CNY)
2025 ANNUAL
(CNY)
2025 Q4
(CNY)
2025 Q3
(CNY)
Total Assets CN¥232.21B CN¥231.40B CN¥221.42B CN¥221.42B CN¥214.49B
Total Current Assets CN¥192.06B CN¥188.66B CN¥180.62B CN¥180.62B CN¥171.21B
Cash and Cash Equivalents & Short-Term Investments CN¥175.39B CN¥170.90B CN¥162.61B CN¥162.61B CN¥149.09B
-Cash and Cash Equivalents CN¥22.81B CN¥50.82B CN¥47.17B CN¥47.17B CN¥31.33B
-Short Term Investments CN¥152.58B CN¥120.09B CN¥115.44B CN¥115.44B CN¥117.77B
Receivables CN¥5.75B CN¥6.49B CN¥7.19B CN¥7.19B CN¥5.96B
-Accounts Receivable CN¥5.75B CN¥6.49B CN¥5.34B CN¥5.34B CN¥5.96B
Inventory CN¥511.90M CN¥546.03M CN¥689.18M CN¥689.18M CN¥637.33M
Restricted Cash CN¥4.45B CN¥4.50B CN¥4.32B CN¥4.32B CN¥8.65B
Other Current Assets CN¥5.97B CN¥6.21B CN¥198.07M CN¥198.07M CN¥6.86B
Total Non-Current Assets CN¥40.14B CN¥42.74B CN¥40.80B CN¥40.80B CN¥43.28B
Net PPE CN¥8.18B CN¥8.31B CN¥8.75B CN¥8.75B CN¥8.52B
-Gross PPE CN¥8.18B CN¥8.31B CN¥16.46B CN¥16.46B CN¥8.52B
Investments and Advances CN¥21.60B CN¥3.05B CN¥21.46B CN¥21.46B CN¥2.85B
-Available for Sale Securities CN¥260.00M CN¥3.05B CN¥16.75B CN¥16.75B CN¥2.85B
Goodwill and Other Intangible Assets CN¥3.98B CN¥4.01B CN¥6.85B CN¥6.85B CN¥4.08B
-Other Intangible Assets CN¥3.98B CN¥4.01B CN¥4.99B CN¥4.99B CN¥4.08B
Non-Current Deferred Assets CN¥2.70B CN¥2.89B CN¥2.83B CN¥2.83B CN¥2.61B
Other Non-Current Assets CN¥3.69B CN¥24.47B CN¥246.19M CN¥246.19M CN¥25.23B
Total Liabilities CN¥60.65B CN¥62.05B CN¥56.31B CN¥56.31B CN¥53.56B
Total Current Liabilities CN¥55.62B CN¥57.44B CN¥52.37B CN¥52.37B CN¥50.09B
Payables CN¥8.19B CN¥9.19B CN¥10.08B CN¥10.08B CN¥8.04B
-Accounts Payable CN¥702.26M CN¥780.92M CN¥643.16M CN¥643.16M CN¥718.39M
-Total Tax Payable CN¥3.72B CN¥5.77B CN¥3.87B CN¥3.87B CN¥4.31B
-Other Payable CN¥3.76B CN¥2.64B CN¥5.56B CN¥5.56B CN¥3.00B
Current Accrued Expenses CN¥15.53B CN¥15.48B CN¥9.31B CN¥9.31B CN¥15.23B
Short-Term Debt and Capital Lease Obligation CN¥12.60B CN¥10.96B CN¥6.50B CN¥6.50B CN¥7.35B
-Current Debt CN¥12.60B CN¥10.96B CN¥6.38B CN¥6.38B CN¥7.35B
Current Deferred Liabilities CN¥19.30B CN¥21.81B CN¥26.48B CN¥26.48B CN¥19.47B
Total Non-Current Liabilities CN¥5.03B CN¥4.61B CN¥3.94B CN¥3.94B CN¥3.47B
Non-Current Deferred Liabilities CN¥3.73B CN¥3.23B CN¥2.64B CN¥2.64B CN¥2.21B
Other Non-Current Liabilities CN¥1.30B CN¥1.38B CN¥1.07B CN¥1.07B CN¥1.26B
Total Equity CN¥171.56B CN¥169.35B CN¥165.10B CN¥165.10B CN¥160.93B
Stockholders' Equity CN¥167.09B CN¥164.72B CN¥160.30B CN¥160.30B CN¥156.26B
Capital Stock CN¥2.63M – CN¥2.63M CN¥2.63M –
-Common Stock CN¥2.63M – CN¥2.63M CN¥2.63M –
Additional Paid-In Capital CN¥8.78B – CN¥9.84B CN¥9.84B –
Retained Earnings CN¥159.11B – CN¥149.76B CN¥149.76B –
Less: Treasury Stock CN¥1.62B – CN¥1.52B CN¥1.52B –
Gains/Losses Not Affecting Retained Earnings CN¥813.25M – CN¥2.22B CN¥2.22B –
Minority Interests CN¥4.47B CN¥4.63B CN¥4.81B CN¥4.81B CN¥4.68B
-Loans Receivable – – CN¥79.26M CN¥79.26M –
-Accrued Interest Receivable – – CN¥1.27B CN¥1.27B –
-Other Receivables – – CN¥508.47M CN¥508.47M –
Prepaid Assets – – CN¥5.61B CN¥5.61B –
-Accumulated Depreciation – – -CN¥7.71B -CN¥7.71B –
-Long Term Equity Investment – – CN¥4.52B CN¥4.52B –
Non Current Accounts Receivables – – CN¥516.95M CN¥516.95M –
Non-Current Note Receivables – – CN¥16.06M CN¥16.06M –
Non-Current Prepaid Assets – – CN¥135.18M CN¥135.18M –
-Goodwill – – CN¥1.86B CN¥1.86B –
-Current Capital Lease Obligation – – CN¥113.21M CN¥113.21M –
Long Term Debt and Capital Lease Obligation – – CN¥232.11M CN¥232.11M –
-Long Term Capital Lease Obligation – – CN¥232.11M CN¥232.11M –

Cash flow

Line item 2026 Q2
(CNY)
2026 Q1
(CNY)
2025 ANNUAL
(CNY)
2025 Q4
(CNY)
2025 Q3
(CNY)
Operating Cash Flow CN¥9.97B CN¥13.73B CN¥50.74B CN¥14.82B CN¥12.95B
Net cash flow from continuing operations CN¥9.97B CN¥13.73B CN¥50.74B CN¥14.82B CN¥12.95B
Net Income from Continuing Operations CN¥7.17B CN¥10.85B CN¥34.80B CN¥6.37B CN¥8.79B
Gain/Loss from Continuing Operations CN¥576.19M CN¥14.51M CN¥1.76B CN¥374.61M CN¥1.72B
Depreciation & Depletion & Amortization CN¥439.44M CN¥430.58M CN¥2.25B CN¥720.37M CN¥617.87M
Deferred Tax CN¥693.74M CN¥532.26M -CN¥1.25B CN¥204.92M -CN¥933.55M
Change in Working Capital -CN¥2.62B CN¥210.03M CN¥8.72B CN¥4.41B CN¥2.30B
-Change in Receivables CN¥726.76M -CN¥1.19B CN¥264.07M CN¥594.56M -CN¥194.82M
-Change in Inventory CN¥34.05M CN¥143.10M -CN¥117.63M -CN¥51.88M -CN¥45.58M
-Change in Prepaid Assets -CN¥16.82M CN¥116.15M CN¥100.71M CN¥701.92M -CN¥889.52M
-Change in Payables and Accrued Expense -CN¥851.98M -CN¥244.83M CN¥3.04B CN¥382.16M CN¥1.41B
-Change In Other Working Capital -CN¥2.51B CN¥1.38B CN¥5.44B CN¥2.78B CN¥2.01B
Net cash flow from investing -CN¥34.66B -CN¥7.76B -CN¥33.18B CN¥387.33M -CN¥24.62B
Net Cash Flow from Continuing Investing Activities -CN¥34.66B -CN¥7.76B -CN¥33.18B CN¥387.33M -CN¥24.62B
Net PPE Purchase and Sale -CN¥4.25M -CN¥310.48M -CN¥1.02B -CN¥116.03M -CN¥282.38M
Net Intangibles Purchase and Sale -CN¥61.55M -CN¥290.02M -CN¥987.09M -CN¥183.99M -CN¥190.98M
Net Business Purchase and Sale -CN¥3.49B – CN¥2.77B – –
Net Investment Purchase and Sale -CN¥31.04B -CN¥7.23B -CN¥27.11B CN¥4.80B -CN¥24.22B
Net Other Investing Changes -CN¥58.89M CN¥65.91M -CN¥6.83B -CN¥6.88B CN¥75.34M
Financing Cash Flow -CN¥3.18B -CN¥1.80B -CN¥20.16B -CN¥3.53B -CN¥6.39B
Net Cash Flow from Continuing Financing Activities -CN¥3.18B -CN¥1.80B -CN¥20.16B -CN¥3.53B -CN¥6.39B
Net Issuance Payments Of Debt CN¥1.75B CN¥4.70B -CN¥5.80B -CN¥938.71M -CN¥3.86B
Net Common Stock Issuance -CN¥1.80B -CN¥1.31B -CN¥639.34M -CN¥15.40M CN¥35.23M
Cash Dividends Paid -CN¥3.14B -CN¥5.16B -CN¥13.83B -CN¥2.58B -CN¥2.58B
Net Other Financing Charges CN¥4.87M -CN¥23.42M CN¥103.81M CN¥819,000.00 CN¥18.07M
Ending Cash Balance CN¥27.27B CN¥55.32B CN¥51.49B CN¥51.49B CN¥39.98B
Net Change in Cash -CN¥27.87B CN¥4.17B -CN¥2.60B CN¥11.68B -CN¥18.06B
Beginning Cash Balance CN¥55.32B CN¥51.49B CN¥54.47B CN¥39.98B CN¥58.17B
Effect of Exchange Rate Changes -CN¥187.75M -CN¥340.83M -CN¥382.45M -CN¥175.90M -CN¥117.88M
Free Cash Flow CN¥9.89B CN¥13.13B CN¥48.69B CN¥14.50B CN¥12.47B
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