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

NetEase, Inc. (NTES) EV/FCF

Alert me on EV/FCF

As of 5 November 2026, NetEase, Inc. (NTES) trades at a EV/FCF of 7.7×. Over the past ten years it has ranged from 4.0× (March 2015) to 22.9× (February 2021); the current reading is higher than 33% of that period.

EV/FCF, daily

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Annual newest first

Period EV/FCF Change
FY2025 9.3× 20.88%
FY2024 7.7× (23.53%)
FY2023 10.1× 0.41%
FY2022 10.0× (37.64%)
FY2021 16.1× 3.32%
FY2020 15.5× 70.55%
FY2019 9.1× 14.44%
FY2018 8.0× 6.64%
FY2017 7.5× 38.05%
FY2016 5.4× (31.19%)

Quarterly newest first

Period EV/FCF Change
Jun 2026 7.8× 19.88%
Mar 2026 6.5× (29.64%)
Dec 2025 9.3× (21.71%)
Sep 2025 11.9× 9.31%
42 more quarters

Against its own ten years

Low 4.0× High 22.9×
Ten-year median 9.3×
Current reading's percentile 27

EV/FCF against peers

What EV/FCF is

EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.

((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)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))

The full definition of EV/FCF →

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