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NetEase, Inc. engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally. The company operates through Games and Related Value-Added Services; Youdao; NetEase Cloud Music; and Innovative Businesses and Others segments. It develops and operates mobile and PC games; and offers games licensed from other developers. The company also provides live streaming service, and other related or ancillary value-added services related to games, such as the sale of game-themed merchandise. In addition, it offers digital content services with interactive learning features, including Youdao Lingshi and Youdao Literature; STEAM courses consisting computer coding courses and other STEAM courses; and adult courses, such as China University massive open online course. Further, the company provides Youdao Dictionary, an online language tool; Confucius, a large language model for the education sector; Hi Echo, an AI-driven virtual English-speaking tutor; Mr. P AI Tutor, a conversation-based tool; Youdao Desktop Translation, a desktop dictionary tool; U-Dictionary, an online dictionary and translation app; iRecord, an audio transcription tool; LectMate, an interpretation software for study-abroad lecture scenarios; iArch, an AI home design software; Baby Genius, an AI baby generator; and One Translate Translator, a translation tool for travelers. It also offers online marketing services consisting of performance-based advertising services, and global marketing and promotion services through banners, text links, videos, logos, buttons, and rich media. Additionally, the company develops and offers smart devices, including Youdao Dictionary Pen, Youdao Listening Pod, and Youdao Smart Learning Pad. NetEase, Inc. was formerly known as NetEase.com, Inc. and changed its name to NetEase, Inc. in March 2012. The company was founded in 1997 and is headquartered in Hangzhou, the People's Republic of China.
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NetEase is a Chinese internet company that develops online games, operates digital-content platforms (music, education) and provides cloud and advertising services. Long-term growth may be driven by new game releases and overseas publishing, rising subscriptions and ads on its digital platforms, and expansion into cloud and AI services. Investors may find it attractive for its large user base and integrated content ecosystem.
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| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 40830.47M | 35717.75M | 34056.93M | 24250.26M | 21104.46M |
| Minority interest | -1037.98M | -558.74M | 296.44M | 494.31M | -119.35M |
| Net income | 33759.80M | 29697.61M | 29416.55M | 20337.60M | 16856.84M |
| Selling general administrative | 4228.19M | 4550.62M | 4899.88M | 4695.80M | 4263.55M |
| Selling and marketing expenses | 14619.70M | 14147.66M | 13969.46M | 13402.72M | 12214.19M |
| Gross profit | 72401.87M | 65807.08M | 63063.39M | 52766.13M | 46970.80M |
| Reconciled depreciation | 2247.43M | 2417.89M | 3164.63M | 2858.21M | 3275.73M |
| Ebit | 40830.47M | 35717.75M | 34056.93M | 19628.59M | 16417.07M |
| Ebitda | 43067.95M | 38135.65M | 37112.19M | 20861.62M | 17235.56M |
| Depreciation and amortization | 2237.48M | 2417.89M | 3055.26M | 1233.03M | 818.49M |
| Operating income | 35834.87M | 29583.99M | 27709.14M | 19628.59M | 16417.07M |
| Other operating expenses | 76790.94M | 75711.25M | 75759.01M | 76867.22M | 71188.96M |
| Interest expense | - | - | - | 2149.67M | 7025.28M |
| Tax provision | 6032.69M | 5461.41M | 4597.62M | 5031.84M | 4128.27M |
| Interest income | 3953.49M | 4920.91M | 3488.12M | 2149.67M | 1519.71M |
| Net interest income | 3953.49M | 4920.91M | 3488.12M | 2149.67M | 1519.71M |
| Income tax expense | 6032.69M | 5461.41M | 4699.70M | 5031.84M | 4128.27M |
| Total revenue | 112625.81M | 105295.24M | 103468.16M | 96495.81M | 87606.03M |
| Total operating expenses | 36567.00M | 36223.09M | 35354.25M | 33137.53M | 30553.73M |
| Cost of revenue | 40223.94M | 39488.15M | 40404.76M | 43729.68M | 40635.22M |
| Total other income expense net | 4995.60M | 6133.77M | 6347.78M | 4621.67M | 4687.39M |
| Discontinued operations | - | - | - | 624.86M | 624.86M |
| Net income from continuing ops | 34797.78M | 30256.35M | 26490.59M | 19218.43M | 16976.19M |
| Net income applicable to common shares | - | - | - | 20337.60M | 16856.84M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 221556.05M | 195991.55M | 185924.98M | 172760.98M | 153643.92M |
| Intangible assets | 4047.36M | 4172.47M | 5959.75M | 4121.77M | 4108.09M |
| Other current assets | 7663.22M | 9503.27M | 132.27M | 5448.28M | 126.39M |
| Total liab | 56346.91M | 53497.41M | 57840.90M | 63887.50M | 54365.29M |
| Total stockholder equity | 160398.19M | 142494.14M | 124285.78M | 104731.32M | 95328.08M |
| Other current liab | 24842.64M | 37142.06M | 16475.17M | 18927.11M | 18031.21M |
| Common stock | 160296.12M | 138685.61M | 2.71M | 2.71M | 2.79M |
| Capital stock | 2.63M | 2.63M | 2.71M | 2.71M | 2.79M |
| Retained earnings | 149755.00M | 130333.40M | 112214.58M | 91074.68M | 77494.48M |
| Other liab | - | - | - | 3403.69M | 1345.87M |
| Good will | 1855.32M | 1855.29M | 1855.39M | 2166.49M | 595.28M |
| Other assets | - | - | - | 27719.85M | 25157.88M |
| Cash | 51520.04M | 51383.31M | 21428.90M | 24889.00M | 14498.16M |
| Total current liabilities | 52402.30M | 49667.66M | 53842.48M | 56828.85M | 50501.33M |
| Current deferred revenue | 20527.60M | -171.61M | 16986.64M | 12518.89M | 12132.74M |
| Net debt | -45131.55M | -39150.26M | -945.42M | 2641.67M | 6129.30M |
| Short term debt | 6388.48M | 11805.05M | 19499.66M | 23875.70M | 19352.31M |
| Short long term debt | 6384.42M | 11805.05M | 19240.16M | 23875.70M | 19352.31M |
| Short long term debt total | 6388.48M | 12233.05M | 20483.48M | 27530.67M | 20627.45M |
| Other stockholder equity | 160398.19M | 138682.98M | 9910.29M | 13222.15M | 17413.75M |
| Property plant equipment | - | - | - | 6342.33M | 5433.86M |
| Total current assets | 180730.49M | 153324.66M | 142692.58M | 131603.20M | 113120.25M |
| Long term investments | 21457.88M | 23231.36M | 22833.19M | 2973.84M | 5823.84M |
| Net tangible assets | - | - | - | 100609.55M | 91219.99M |
| Short term investments | 115516.39M | 86197.50M | 105292.09M | 92570.35M | 83036.39M |
| Net receivables | 5341.22M | 5669.03M | 9234.10M | 5002.87M | 5507.99M |
| Long term debt | - | 428.00M | 428.00M | 3654.96M | 1275.14M |
| Inventory | 689.62M | 571.55M | 695.37M | 993.64M | 964.73M |
| Accounts payable | 643.57M | 720.55M | 881.02M | 1507.14M | 985.06M |
| Accumulated other comprehensive income | - | 1006.81M | 2158.20M | 431.79M | 417.06M |
| Non currrent assets other | 22513.49M | 26949.33M | 2199.66M | 26239.06M | 23859.93M |
| Non current assets total | 40825.56M | 42666.89M | 43232.39M | 41157.79M | 40523.67M |
| Capital lease obligations | 345.32M | 584.21M | 815.32M | 931.69M | 1066.53M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -27112.69M | 17916.40M | -2454.59M | -7369.73M | -3771.16M |
| Change to liabilities | - | - | - | 833.06M | 1196.00M |
| Total cashflows from investing activities | -32176.34M | 17916.40M | -17043.43M | -7369.73M | -7078.29M |
| Net borrowings | -5798.58M | -7476.26M | -8305.02M | 4845.01M | 1708.24M |
| Total cash from financing activities | -19711.51M | -27335.70M | -21467.05M | -10237.70M | -12585.57M |
| Change to operating activities | - | - | - | 3055.19M | 3267.10M |
| Net income | 32840.02M | 30256.35M | 29357.22M | 19218.43M | 16976.19M |
| Change in cash | -661.34M | 30268.26M | -3381.67M | 10212.21M | 5207.51M |
| Begin period cash flow | 52181.38M | 24206.66M | 27588.33M | 17376.12M | 12168.60M |
| End period cash flow | 51520.04M | 54474.92M | 24206.66M | 27588.33M | 17376.12M |
| Total cash from operating activities | 49357.40M | 39676.81M | 35331.28M | 27709.23M | 24926.73M |
| Depreciation | 2186.20M | 2417.89M | 3055.26M | 2858.21M | 3275.73M |
| Other cashflows from investing activities | 38.56M | -1731.34M | -413.63M | -323.78M | -268.65M |
| Dividends paid | 13449.00M | 11165.34M | 8013.90M | -6723.67M | -3508.38M |
| Change to inventory | -114.43M | 123.78M | 296.76M | -27.61M | -343.59M |
| Change to account receivables | 256.88M | 716.38M | -1470.37M | 554.34M | -1186.59M |
| Sale purchase of stock | -621.92M | -8830.11M | -5234.29M | -8328.12M | -12924.33M |
| Other cashflows from financing activities | - | 136.01M | 86.16M | 5087.73M | 2138.90M |
| Change to netincome | - | - | - | 1016.06M | 1606.17M |
| Capital expenditures | 1036.35M | 2206.39M | 4275.88M | 2643.48M | 3110.01M |
| Change in working capital | 8483.87M | 3651.62M | 375.88M | 3497.37M | 3187.99M |
| Stock based compensation | 3647.66M | 3882.94M | 3242.81M | 3174.16M | 3041.49M |
| Other non cash items | 7067.27M | -852.71M | -831.34M | -1528.60M | -1962.62M |
| Free cash flow | 48321.05M | 37470.43M | 31055.40M | 25065.75M | 21816.72M |
Sector: Communication Services Industry: Electronic Gaming & Multimedia
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| NTES NetEase Inc |
5.03 4.33% |
121.26 | 15.72 | 11.25 | 0.66 | 3.03 | 2.88 | 7.76 |
| NETTF NetEase Inc |
- -% |
22.95 | 14.36 | 10.27 | 0.59 | 2.77 | 2.88 | 7.76 |
| NTDOF Nintendo Co. Ltd |
3.54 6.88% |
55.00 | 22.94 | 18.90 | 0.03 | 3.27 | 3.16 | 12.52 |
| NTDOY Nintendo Co ADR |
0.87 6.75% |
13.76 | 22.48 | 18.45 | 0.03 | 3.18 | 3.16 | 12.52 |
| TTWO Take-Two Interactive Software Inc |
13.84 7.10% |
208.83 | - | 30.58 | 5.93 | 11.55 | 6.40 | 34.22 |
NetEase, Inc. engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally. The company operates through Games and Related Value-Added Services; Youdao; NetEase Cloud Music; and Innovative Businesses and Others segments. It develops and operates mobile and PC games; and offers games licensed from other developers. The company also provides live streaming service, and other related or ancillary value-added services related to games, such as the sale of game-themed merchandise. In addition, it offers digital content services with interactive learning features, including Youdao Lingshi and Youdao Literature; STEAM courses consisting computer coding courses and other STEAM courses; and adult courses, such as China University massive open online course. Further, the company provides Youdao Dictionary, an online language tool; Confucius, a large language model for the education sector; Hi Echo, an AI-driven virtual English-speaking tutor; Mr. P AI Tutor, a conversation-based tool; Youdao Desktop Translation, a desktop dictionary tool; U-Dictionary, an online dictionary and translation app; iRecord, an audio transcription tool; LectMate, an interpretation software for study-abroad lecture scenarios; iArch, an AI home design software; Baby Genius, an AI baby generator; and One Translate Translator, a translation tool for travelers. It also offers online marketing services consisting of performance-based advertising services, and global marketing and promotion services through banners, text links, videos, logos, buttons, and rich media. Additionally, the company develops and offers smart devices, including Youdao Dictionary Pen, Youdao Listening Pod, and Youdao Smart Learning Pad. NetEase, Inc. was formerly known as NetEase.com, Inc. and changed its name to NetEase, Inc. in March 2012. The company was founded in 1997 and is headquartered in Hangzhou, the People's Republic of China.
| Name | Title | Year Born |
|---|---|---|
| Mr. Lei Ding | Founder, CEO & Director | 1972 |
| Mr. Zhaoxuan Yang | Chief Financial Officer | 1984 |
| Ms. Margaret Shi | IR Director | NA |
| Mr. Feng Zhou | Sr. VP of Search Operations | 1978 |
| Mr. Bill Pang | Vice President of Corporate Development | NA |
| Mr. Zhaoxuan Yang | Consultant | 1984 |
| Ryutaro Ichimura | President & Representative Director of PinCool Inc. | NA |
| Ms. Aileen Bin Mo | Vice President of Finance | 1980 |
| Mr. Paul W. Boltz Jr. | General Counsel | 1970 |
| Mr. Yingfeng Ding | Consultant | 1972 |
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