NetEase, Inc. NTES
- Market cap
- $73.5B
- P/E
- 15.7×
Follow NTES
Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25.92 | 43.13 | 36.92 | 41.80 | 53.17 | 77.97 | 53.09 | 75.38 | 75.85 | 87.67 |
Analyst estimates 2026–2028 Powerpack |
Low Price
|
||
| 54.52 | 75.53 | 71.08 | 65.00 | 103.53 | 134.33 | 108.77 | 118.90 | 114.50 | 159.55 |
High Price
|
|||
| 17,248 | 19,762 | 24,648 | 20,797 | 28,239 | 32,064 | 31,119 | 29,128 | 26,028 | 25,382 |
Employees
|
|||
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
Revenue/Emp
|
|||
| 5,499 | 8,315 | 9,768 | 8,509 | 11,290 | 13,747 | 13,991 | 14,573 | 14,425 | 16,105 |
Revenue
|
|||
| 56.74% | 47.90% | 42.29% | 53.27% | 52.92% | 53.62% | 54.68% | 60.95% | 62.50% | 64.29% |
Gross Margin
|
|||
| 2,001 | 2,000 | 1,301 | 2,353 | 2,356 | 3,312 | 3,516 | 4,797 | 4,893 | 5,839 |
EBT
|
|||
| 36.40% | 24.05% | 13.32% | 27.66% | 20.87% | 24.09% | 25.13% | 32.92% | 33.92% | 36.25% |
EBT Margin
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|||
| 1,699 | 1,667 | 942 | 1,935 | 1,890 | 2,664 | 2,786 | 4,135 | 4,145 | 4,976 |
Net Income
|
|||
| 47 | 123 | 303 | 375 | 530 | 514 | 414 | 430 | 331 | 321 |
Depreciation
|
|||
| 8.38 | 12.64 | 15.10 | 13.21 | 17.08 | 20.67 | 21.44 | 22.65 | 22.54 | 25.27 |
Revenue/Sh
|
|||
| 2.55 | 2.50 | 1.38 | 4.74 | 2.80 | 3.98 | 4.52 | 6.44 | 6.36 | 7.58 |
Earnings/Sh
|
|||
| 3.40 | 2.78 | 3.02 | 3.84 | 5.77 | 5.88 | 6.16 | 7.74 | 8.49 | 11.39 |
Cash Flow/Sh
|
|||
| (0.25) | (0.59) | (1.55) | (0.73) | (0.76) | (0.72) | (0.58) | (0.93) | (0.47) | (0.45) |
Capex/Sh
|
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| 3.15 | 2.19 | 1.47 | 3.11 | 5.01 | 5.16 | 5.58 | 6.80 | 8.02 | 10.94 |
Free CF/Sh
|
|||
| 8.44 | 10.85 | 10.35 | 13.96 | 19.24 | 23.42 | 24.15 | 28.02 | 30.48 | 37.03 |
Book Value/Sh
|
|||
| 656 | 658 | 647 | 644 | 661 | 665 | 653 | 643 | 640 | 637 |
Shares
|
|||
| 16.54 | 28.93 | 33.15 | 13.08 | 34.35 | 25.90 | 16.66 | 14.43 | 13.83 | 18.55 |
PE Ratio
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|||
| 5.21 | 5.51 | 3.12 | 4.64 | 5.61 | 4.92 | 3.57 | 4.08 | 3.96 | 5.45 |
PS Ratio
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|||
| 5.17 | 6.42 | 4.55 | 4.39 | 4.98 | 4.35 | 3.17 | 3.30 | 2.93 | 3.72 |
PB Ratio
|
|||
| 4.26 | 4.73 | 2.51 | 3.66 | 4.56 | 4.01 | 2.61 | 3.02 | 2.74 | 4.02 |
EV/Sales
|
|||
| 5.41 | 7.47 | 7.97 | 9.12 | 15.55 | 16.07 | 10.02 | 10.06 | 7.69 | 9.30 |
EV/FCF
|
|||
| 2,231 | 1,827 | 1,951 | 2,473 | 3,814 | 3,912 | 4,017 | 4,976 | 5,436 | 7,256 |
Op' Cash Flow
|
|||
| (164) | (387) | (1,001) | (469) | (502) | (477) | (377) | (601) | (300) | (287) |
Capex
|
|||
| 2,067 | 1,440 | 951 | 2,004 | 3,313 | 3,435 | 3,640 | 4,376 | 5,135 | 6,969 |
FCF
|
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| 4,376 | 5,871 | 4,888 | 6,731 | 9,362 | 9,826 | 10,841 | 12,514 | 14,201 | 18,339 |
Working Cap'
|
|||
| 550 | 1,018 | 1,987 | 2,457 | 3,062 | 3,237 | 3,992 | 2,770 | 1,676 | 913 |
Total Debt
|
|||
| (5,191) | (6,519) | (5,981) | (8,344) | (11,731) | (12,520) | (13,430) | (15,469) | (17,595) | (22,958) |
Net Debt
|
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| 5,540 | 7,137 | 6,694 | 8,991 | 12,720 | 15,579 | 15,765 | 18,024 | 19,510 | 23,597 |
Sh' Equity
|
|||
| 22.72% | 17.08% | 7.59% | 21.22% | 9.77% | 11.54% | 12.00% | 16.17% | 15.34% | 16.50% |
ROA
|
|||
| 325.80% | 188.89% | 100.62% | 191.35% | 140.75% | 52.63% | 76.15% | 95.48% | 132.30% | 501.39% |
ROIC
|
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| 33.21% | 25.97% | 12.94% | 38.90% | 17.03% | 18.69% | 18.81% | 24.52% | 21.68% | 22.40% |
ROE
|
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NetEase, Inc. peers in Electronic Gaming & Multimedia
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|---|---|---|---|
| TTWO Take-Two Interactive Software, Inc. | $38.0B | 0.0× | Compare |
| RBLX Roblox Corporation | $34.9B | 0.0× | Compare |
| PLTK Playtika Holding Corp. | $831.5M | 0.0× | Compare |
| DDI DoubleDown Interactive Co., Ltd. Sponsored ADR | $644.2M | 5.2× | Compare |
| Company | Market cap | P/E | Compare |
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| GRVY GRAVITY Co., Ltd. | $469.5M | 8.2× | Compare |
| SOHU Sohu.com Inc. | $343.6M | 1.5× | Compare |
| FIRY Firy Inc. | $211.8M | 0.0× | Compare |
| GDEV GDEV Inc. | $198.1M | 2.7× | Compare |
NetEase, Inc. (NTES) key facts
- NetEase, Inc. (NTES) is an Electronic Gaming & Multimedia company in the Communication Services sector, traded in the US as an ADR.
- NetEase, Inc.’s revenue for fiscal 2025 (year ended December 2025) was HKD 16.1 billion, up 11.6% from fiscal 2024.
- As of September 25, 2026, NTES traded at $115.41, a market capitalization of $73.5 billion.
- NetEase, Inc. pays an annual dividend of $1.69 per share, a yield of 1.82%, with a payout ratio of 27.6%.
- Return on equity was 22.4% and debt-to-equity 0.07.
NetEase, Inc. (NTES) Latest News
27 Aug
NetEase continues to generate the bulk of its revenue from established legacy game titles rather than new releases. Heavy reliance on older titles signals limited near-term innovation impact on growth trajectory.
21 Aug
NetEase (SEHK:9999) may be 23% undervalued following Q2 2026 earnings. Post-earnings valuation reassessment can moderately affect near-term investor sentiment toward the stock.
20 Aug
NetEase (NTES) released its Q2 2026 earnings call transcript covering financial results, operational updates, and strategic outlook. Earnings call transcripts frequently disclose key metrics and guidance that move stock prices and reshape investor expectations.
NetEase posted strong game revenue growth and margin expansion in its Q2 2026 earnings call. Strong game revenue growth and margin gains directly boost financial results and investor outlook.
NetEase reported Q2 results during its earnings call, noting revenue growth in online games, music and education segments along with updated guidance and comments on user metrics and new title pipeline. Quarterly earnings updates supply fresh financial metrics and outlook that can move near-term sentiment but rarely shift long-term company trajectory.
NetEase shares declined after the company posted a Q2 earnings miss that overshadowed stronger revenue. Q2 earnings shortfall directly pressures NetEase valuation and short-term market sentiment.
NetEase Cloud Music Inc. reported financial results for the first half of 2026. Subsidiary earnings updates can shift near-term valuation and sentiment for the parent company.
NetEase Cloud Music Inc. released its financial results for the first half of 2026. Half-year results from a key subsidiary deliver performance data that can shift parent company valuation and sentiment.
NetEase missed second-quarter profit forecasts, prompting shares to slide. Earnings miss directly pressures near-term stock performance and investor sentiment for NetEase.
Youdao reports unaudited financial results for the second quarter of 2026. Youdao quarterly results can moderately shift NetEase investor sentiment and valuation.
NetEase reports second quarter and interim 2026 unaudited financial results. Quarterly results deliver performance metrics that can shift near-term investor views and valuation.
14 Aug
NetEase's Z.ai releases new AI model to compete with Anthropic and OpenAI in coding. Z.ai AI model launch gives NetEase moderate positioning boost in competitive coding AI space.
17 Jul
NetEase margins improve amid valuation debate, raising questions if the stock remains cheap. Margin gains and valuation questions may sway NetEase investor sentiment and market views.
16 Jul
Warner Music Group and NetEase Cloud Music announce strategic multi-year licensing renewal. Multi-year licensing renewal enhances NetEase Cloud Music's music offerings and competitive stance.
3 Jul
JPMorgan named two stocks as Strong Buy picks for the rest of 2026, with NetEase (NTES) highlighted for expected growth. JPMorgan Strong Buy rating may lift short-term sentiment and trading in NTES shares.
12 Jun
Earnings estimates for NetEase (NTES) are rising, raising the possibility of future stock gains for the company. Rising earnings estimates can improve market sentiment and support near-term stock performance for NetEase.
11 Jun
NetEase issues recent gaming content updates for its titles, prompting evaluations on whether to revisit shares of the company listed as SEHK:9999. Gaming content updates may moderately affect NetEase product performance and competitive positioning.
8 Jun
GENZ high yield fails to hold as company shifts operations from casinos to apps, pressuring NetEase positioning in gaming and app markets. Transition away from casinos toward apps introduces operational risk that can moderately affect NetEase financials and market stance.
23 May
NetEase faces questions on reassessment after shifting focus to gaming investments. Gaming investments may affect NetEase competitive positioning and performance.
21 May
NetEase Inc reported strong Q1 2026 revenue growth driven by gaming success. Positive Q1 2026 gaming revenue results signal major upside for future financial performance and investor sentiment.
NetEase reported Q1 results in its earnings call with details on revenue, user metrics, and segment performance including games and education. Q1 earnings data can moderately shift investor views on near-term growth and profitability.
NetEase released unaudited financial results for the first quarter of 2026. Quarterly earnings updates supply performance metrics that move share price and sentiment in the near term.
17 May
NetEase share prices weakened recently, prompting valuation reassessment amid prospects from its new game pipeline. New game pipeline prospects may moderately influence NetEase financial results and competitive standing.
3 Apr
NetEase Inc., China's Spotify equivalent via NetEase Cloud Music, has plunged in stock price, making it a compelling bargain for investors amid strong fundamentals in gaming and music streaming. Stock price drop boosts investor sentiment and potential upside without altering core operations or competitive position.
10 Mar
Analysts express strong confidence in NetEase, Inc. (NTES), highlighting robust growth prospects ahead amid positive market outlook. Analyst confidence and growth expectations will moderately influence NTES investor sentiment and financial performance.
20 Feb
NetEase, Inc. (NTES) reported mixed quarterly results, with analysts maintaining a bullish stance on the stock. Mixed results suggest moderate financial influence, countered by sustained bullish analyst sentiment.
12 Feb
NetEase, Inc. (NTES) has experienced recent share price weakness, prompting a reassessment of its valuation. The company is focusing on overseas growth opportunities, which could influence its future performance. Analysts are evaluating the potential impact of these developments on NetEase's market position and financial outlook. Overseas growth expectations may moderately influence NetEase's financial performance and competitive positioning.
NetEase, Inc. reported its Q4 earnings, revealing that both earnings and sales fell short of analysts' estimates despite a year-over-year increase in revenues. The company's performance highlights challenges in meeting market expectations, which may affect investor sentiment moving forward. Earnings and sales missing estimates may moderately influence investor sentiment and financial performance.
11 Feb
NetEase, Inc. (NTES) reported strong revenue growth in its Q4 2025 earnings call, highlighting resilience amidst a competitive landscape. The company showcased significant advancements in its gaming and online services segments, contributing to overall financial performance. Management emphasized strategic initiatives aimed at enhancing user engagement and expanding market share, despite challenges posed by industry rivals. Investors reacted positively to the results, indicating confidence in NetEase's future prospects. Strong revenue growth and strategic initiatives are likely to significantly impact future performance and investor sentiment.
NetEase, Inc. reported its Q4 earnings, highlighting strong revenue growth driven by its gaming and online education segments. The company emphasized its commitment to innovation and expanding its product offerings. Management provided insights into future strategies, including potential investments in new technologies and markets. Overall, the earnings call reflected a positive outlook for the company's performance in the upcoming quarters. Significant strategic moves and product innovations were outlined that could alter the company's trajectory.