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NetEase, Inc. logo

NetEase, Inc.

NTES

NASDAQTechnologyElectronic Gaming & Multimedia

Open in GoAI

Previous close

$128.17

+$8.36 · +6.98%

Aug 21, 4:00 PM ET

NTES company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

87

Deep Value

Momentum

54

Neutral

Sentiment

65

Bullish

Risk resilience

64

Moderate Risk

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AI-generated, informational only, and not investment advice.

Company profile

Company website

NetEase, Inc., a prominent technology firm founded in 1997 and headquartered in Hangzhou, People's Republic of China, delivers a broad spectrum of online services both within China and across international markets. Its core operations encompass online gaming, music streaming, intelligent online learning solutions, and diverse internet content services. The company organizes its activities into several key divisions: Games and Related Value-Added Services; Youdao, focusing on educational technology; Cloud Music for its audio streaming offerings; and a segment for Innovative Businesses and Others. Within its gaming division, NetEase is responsible for creating and managing both PC and mobile games, and it also publishes titles licensed from external game developers. The Youdao segment provides a comprehensive suite of online learning and translation tools, including Youdao Dictionary, Youdao Translation, U-Dictionary, and Youdao Kids' Dictionary. It also manufactures smart devices like the Youdao Dictionary Pen, Smart Learning Pad, and Listening Pod. Furthermore, Youdao offers online courses, interactive educational applications, and advanced digitalization solutions for education, such as the Youdao Smart Learning Terminal for automated homework processing, Youdao Smart Cloud (a platform offering OCR capabilities to third parties), and Youdao Sports, a sports-focused educational system. Beyond these, NetEase manages an array of other popular internet services. These include NetEase Cloud Music, a significant music streaming platform; Yanxuan, an e-commerce platform specializing in private label products; the www.163.com portal and its companion mobile app, Wangyi Xinwen, which deliver news, sports, technology, fashion, and entertainment content; NetEase Mail, an email service; NetEase CC Live, a live streaming platform primarily dedicated to game broadcasting; and NetEase Pay, a secure payment system. The company, originally known as NetEase.com, Inc., officially adopted its current name, NetEase, Inc., in March 2012.

Industry
Electronic Gaming & Multimedia
Sector
Technology
Headquarters
CN
CEO
Lei Ding
Listed since
Jun 30, 2000
Employees
25,382

Market position

Day range

Current $128.17

52-week range

Current $128.17

Open
$129
Previous close
$119.81
Volume
1.3M
1.36× average
Average volume
960.52K
Average daily volume
Market cap
81.83B USD
Beta
0.8
Market reference 1
50-day average
$126.84
+1.05% above average
200-day average
$125.85
+1.85% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
569.18B CNY
P/E (TTM)
16.38×
P/B (TTM)
3.18×
P/S (TTM)
4.57×
EV / EBITDA
13.22×
Earnings yield
5.50%
Free cash flow yield
7.87%
Dividend yield
2.44%

Profitability & efficiency

Gross margin
67.15%
Operating margin
35.22%
Net margin
27.89%
Return on equity
21.05%
Return on assets
15.24%
Return on invested capital
17.40%

Financial health

Debt / equity
0.08×
Current ratio
3.45×
Altman Z-score
8.22
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends69%51%32%14%Gross margin, FY2021: 53.62%Gross margin, FY2022: 54.68%Gross margin, FY2023: 60.95%Gross margin, FY2024: 62.50%Gross margin, FY2025: 64.29%Operating margin, FY2021: 18.74%Operating margin, FY2022: 20.34%Operating margin, FY2023: 26.78%Operating margin, FY2024: 28.10%Operating margin, FY2025: 31.82%Net margin, FY2021: 19.24%Net margin, FY2022: 21.08%Net margin, FY2023: 28.43%Net margin, FY2024: 28.20%Net margin, FY2025: 29.98%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 53.62%. Gross margin FY2022 54.68%. Gross margin FY2023 60.95%. Gross margin FY2024 62.50%. Gross margin FY2025 64.29%. Operating margin FY2021 18.74%. Operating margin FY2022 20.34%. Operating margin FY2023 26.78%. Operating margin FY2024 28.10%. Operating margin FY2025 31.82%. Net margin FY2021 19.24%. Net margin FY2022 21.08%. Net margin FY2023 28.43%. Net margin FY2024 28.20%. Net margin FY2025 29.98%.

Income trends

Revenue

112.63B CNY+6.96%

Operating income

35.83B CNY+21.13%

Net income

33.76B CNY+13.68%
Income trends across reported periods122.25B CNY83.76B CNY45.28B CNY6.8B CNYRevenue, FY2021: 87.61B CNYRevenue, FY2022: 96.5B CNYRevenue, FY2023: 103.47B CNYRevenue, FY2024: 105.3B CNYRevenue, FY2025: 112.63B CNYOperating income, FY2021: 16.42B CNYOperating income, FY2022: 19.63B CNYOperating income, FY2023: 27.71B CNYOperating income, FY2024: 29.58B CNYOperating income, FY2025: 35.83B CNYNet income, FY2021: 16.86B CNYNet income, FY2022: 20.34B CNYNet income, FY2023: 29.42B CNYNet income, FY2024: 29.7B CNYNet income, FY2025: 33.76B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 87.61B CNY. Revenue FY2022 96.5B CNY. Revenue FY2023 103.47B CNY. Revenue FY2024 105.3B CNY. Revenue FY2025 112.63B CNY. Operating income FY2021 16.42B CNY. Operating income FY2022 19.63B CNY. Operating income FY2023 27.71B CNY. Operating income FY2024 29.58B CNY. Operating income FY2025 35.83B CNY. Net income FY2021 16.86B CNY. Net income FY2022 20.34B CNY. Net income FY2023 29.42B CNY. Net income FY2024 29.7B CNY. Net income FY2025 33.76B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue112.63B CNY105.3B CNY103.47B CNY96.5B CNY87.61B CNY
Cost of goods sold40.22B CNY39.49B CNY40.4B CNY43.73B CNY40.64B CNY
Gross profit72.4B CNY65.81B CNY63.06B CNY52.77B CNY46.97B CNY
Research and development17.72B CNY17.52B CNY16.48B CNY15.04B CNY14.08B CNY
Selling, general, and administrative18.85B CNY18.7B CNY18.87B CNY18.1B CNY16.48B CNY
Operating expenses36.57B CNY36.22B CNY35.35B CNY33.14B CNY30.55B CNY
Interest income4.62B CNY4.92B CNY4.12B CNY2.15B CNY1.52B CNY
Depreciation and amortization2.24B CNY2.42B CNY3.06B CNY2.86B CNY3.28B CNY
Operating income35.83B CNY29.58B CNY27.71B CNY19.63B CNY16.42B CNY
Net income33.76B CNY29.7B CNY29.42B CNY20.34B CNY16.86B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 7 misses, 0 met estimates
Average EPS surprise
-2.46%
11 comparable reports
Latest EPS result
1.77
Estimate 2.31 · Miss by 23.38%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2.632.241.861.47Q1 '25BeatQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26MissQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 20, 2025: actual 2.07, estimate 1.72, surprise +20.35%, Beat. Q2 2025, reported May 15, 2025: actual 2.41, estimate 2.01, surprise +19.90%, Beat. Q3 2025, reported Aug 14, 2025: actual 2.07, estimate 2.04, surprise +1.47%, Beat. Q4 2025, reported Nov 20, 2025: actual 2.07, estimate 2.08, surprise -0.48%, Miss. Q1 2026, reported Feb 11, 2026: actual 1.57, estimate 2.03, surprise -22.66%, Miss. Q2 2026, reported May 21, 2026: actual 2.53, estimate 2.19, surprise +15.53%, Beat. Q3 2026, reported Aug 20, 2026: actual 1.77, estimate 2.31, surprise -23.38%, Miss. Q4 2026, reported Nov 19, 2026: actual —, estimate 2.39, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates4.7B4.29B3.89B3.48BQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 20, 2025: actual 3.66B USD, estimate 3.71B USD, surprise -1.27%, Miss. Q2 2025, reported May 15, 2025: actual 3.96B USD, estimate 3.99B USD, surprise -0.84%, Miss. Q3 2025, reported Aug 14, 2025: actual 3.89B USD, estimate 3.98B USD, surprise -2.24%, Miss. Q4 2025, reported Nov 20, 2025: actual 3.98B USD, estimate 4.04B USD, surprise -1.34%, Miss. Q1 2026, reported Feb 11, 2026: actual 3.94B USD, estimate 4.11B USD, surprise -4.09%, Miss. Q2 2026, reported May 21, 2026: actual 4.43B USD, estimate 4.25B USD, surprise +4.26%, Beat. Q3 2026, reported Aug 20, 2026: actual 4.43B USD, estimate 4.33B USD, surprise +2.32%, Beat. Q4 2026, reported Nov 19, 2026: actual —, estimate 4.52B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$162.33

26.65% upside
Past 12 months12-month forecastHigh $169Average $162.33Low $158

Rating distribution

33 ratings
Strong buy00%
Buy2782%
Hold515%
Sell13%
Strong sell00%

Recent analyst actions

9 institutions
AreteupgradeSellBuy
JefferiesmaintainBuy

NTES news

seekingalpha.com

NetEase Q2 Review: The Company Needs Another Big Hit Post-Marvel Rivals Slump

NetEase, Inc. reported Q2 revenues of $4.4B, up 8% y/y, but non-GAAP EPADS missed by $0.53 due to $435M in investment losses. Gross margins improved 550bps y/y and operating expenses declined 35% over six months,…

Read source
seekingalpha.com

NetEase, Inc. (NTES) Q2 2026 Earnings Call Transcript

NetEase, Inc. (NTES) Q2 2026 Earnings Call Transcript

Read source
marketbeat.com

NetEase Q2 Earnings Call Highlights

NetEase NASDAQ: NTES reported second-quarter revenue of RMB 30.1 billion ($4.4 billion), supported by continued growth in its games business, while management highlighted live-service updates, global expansion and…

Read source
prnewswire.com

NetEase Cloud Music Inc. Reports First Half 2026 Financial Results

HANGZHOU, China, Aug. 20, 2026 /PRNewswire/ -- NetEase Cloud Music Inc. (HKEX: 9899 or the "Company"), a leading interactive music streaming service provider in China, today announced its financial results for the first…

Read source
prnewswire.com

Youdao Reports Second Quarter 2026 Unaudited Financial Results

HANGZHOU, China, Aug. 20, 2026 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), an AI solutions provider specializing in learning and advertising, today announced its unaudited financial results for…

Read source
prnewswire.com

NetEase Announces Second Quarter and Interim 2026 Unaudited Financial Results

HONG KONG, Aug. 20, 2026 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the…

Read source

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$3.0353

2025 complete year+271.3% since 2021

2026 partial: $1.88

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Jun 5, 2026

$0.72

Quarterly

Record Jun 5, 2026 · Payment Jun 18, 2026

Dividend

Ex-dividend Mar 16, 2026

$1.16

Quarterly

Record Mar 16, 2026 · Payment Mar 27, 2026

Dividend

Ex-dividend Dec 5, 2025

$0.57

Quarterly

Record Dec 5, 2025 · Payment Dec 19, 2025

Dividend

Ex-dividend Aug 28, 2025

$0.57

Quarterly

Record Aug 28, 2025 · Payment Sep 11, 2025

Dividend

Ex-dividend May 30, 2025

$0.675

Quarterly

Record May 30, 2025 · Payment Jun 13, 2025

Dividend

Ex-dividend Mar 6, 2025

$1.2203

Quarterly

Record Mar 6, 2025 · Payment Mar 20, 2025

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ETFs holding NTES

Funds reporting this stock among their holdings, ordered by reported position size.

Avantis Emerging Markets Equity ETF logoAvantis Emerging Markets Equity ETFAVEM
Market value
135.71M
Weight
0.49%
AUM
27.89B USD
Expense ratio
0.33%
Price / 1D
$94.24+0.75%
EMQQ The Emerging Markets Internet ETF logoEMQQ The Emerging Markets Internet ETFEMQQ
Market value
23.94M
Weight
2.79%
AUM
273.19M USD
Expense ratio
0.86%
Price / 1D
$34.205+0.16%
Amplify CWP International Enhanced Dividend Income ETF logoAmplify CWP International Enhanced Dividend Income ETFIDVO
Market value
22.7M
Weight
1.60%
AUM
1.42B USD
Expense ratio
0.65%
Price / 1D
$43.27+1.24%
VanEck Video Gaming and eSports ETF logoVanEck Video Gaming and eSports ETFESPO
Market value
18.59M
Weight
7.31%
AUM
256.03M USD
Expense ratio
0.55%
Price / 1D
$98.33+0.77%
Dimensional - Emerging Markets Core Equity 2 ETF logoDimensional - Emerging Markets Core Equity 2 ETFDFEM
Market value
14.14M
Weight
0.15%
AUM
9.49B USD
Expense ratio
0.39%
Price / 1D
$39.93+0.50%
Global X China Cloud Computing ETF (HKD) logoGlobal X China Cloud Computing ETF (HKD)2826.HK
Market value
13.79M
Weight
8.83%
AUM
182.66M HKD
Expense ratio
0.68%
Price / 1D
HK$54.34-3.72%
Invesco International Dividend Achievers ETF logoInvesco International Dividend Achievers ETFPID
Market value
12.43M
Weight
1.36%
AUM
923.14M USD
Expense ratio
0.53%
Price / 1D
$23.1266+0.59%
Capital Group New Geography Equity ETF logoCapital Group New Geography Equity ETFCGNG
Market value
11.02M
Weight
0.37%
AUM
2.95B USD
Expense ratio
0.64%
Price / 1D
$36.92+1.10%

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