Pricing Log in Create free account
Friday 6 November 2026 Export NTES’s income statement to Excel — free account

NetEase, Inc.

NTES Communication Services Electronic Gaming & Multimedia

NetEase, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.1 billion, up 11.6% from fiscal 2024.

Revenue
+14.0%
EPS
−14.4%
Free cash flow
+1.53%
Total debt
+18.0%

Quarter to June 2026, against a year earlier

126.73 5.47 +4.51%
Market cap
$80.6B
P/E
16.9×
Fwd P/E
12.5×
Dividend yield
2.31%
F-score
9/9
Altman Z
9.21
Beneish M
−2.86
Dividend safety
69/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

NetEase, Inc. (NTES) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, NetEase, Inc. (NTES) trades at a EV/EBITDA of 8.9×. Over the past ten years it has ranged from 6.8× (October 2022) to 27.5× (February 2021); the current reading is higher than 6% of that period. That is above the Electronic Gaming & Multimedia industry median of 2.1× and in line with the Communication Services sector median of 8.8×.

EV/EBITDA, daily

Embed this chart

Annual newest first

Period EV/EBITDA Change
FY2025 12.2× 35.21%
FY2024 9.0× (11.29%)
FY2023 10.2× (9.19%)
FY2022 11.2× (37.36%)
FY2021 17.9× (4.39%)
FY2020 18.7× 24.14%
FY2019 15.0× (25.85%)
FY2018 20.3× (2.54%)
FY2017 20.8× 61.50%
FY2016 12.9× (26.73%)

Quarterly newest first

Period EV/EBITDA Change
Jun 2026 9.0× 9.23%
Mar 2026 8.3× (32.07%)
Dec 2025 12.2× (19.46%)
Sep 2025 15.1× 11.65%
42 more quarters

Against its own ten years

Low 6.8× High 27.5×
Ten-year median 14.8×
Current reading's percentile 6

EV/EBITDA against peers

Company EV/EBITDA
FIRY Firy Inc. compare n/m
RBLX Roblox Corporation compare n/m
SOHU Sohu.com Inc. compare n/m
GDEV GDEV Inc. compare 0.4×
GRVY GRAVITY Co., Ltd. compare 0.6×
DDI DoubleDown Interactive Co., Ltd. Sponsored ADR compare 1.3×
NTES NetEase, Inc. 8.9×
PLTK Playtika Holding Corp. compare 24.3×
TTWO Take-Two Interactive Software, Inc. compare 33.8×
Electronic Gaming & Multimedia industry median 2.1×
Communication Services sector median 8.8×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

More on NTES