NETEASE, INC. financials

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NETEASE, INC. reports to SEC EDGAR in CNY (it files a 20-F/40-F as a foreign private issuer), so every monetary figure below is in CNY as filed, not US dollars.
NTES CIK 0001110646

Source: EDGAR filings · Built 2026-06-19T01:20:01Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow 49.67B 38.40B 33.03B 25.61B 23.32B 23.83B
EBITDA 38.08B 32.00B 30.76B 22.49B 19.69B 18.00B
Working Capital 128.25B 103.66B 88.85B 74.77B 62.62B 61.09B
Net Debt -46.82B -50.37B -20.19B -20.30B -12.16B -8.31B
Gross Margin 64.29% 62.50% 60.95% 54.68% 53.62% 52.92%
Operating Margin 31.82% 28.10% 26.78% 20.34% 18.74% 19.74%
Net Margin 30.90% 28.73% 28.37% 20.56% 19.38% 16.74%
Return on Equity (ROE) 21.71% 21.82% 23.62% 18.95% 17.81% 15.01%
Return on Assets (ROA) 15.72% 15.44% 15.79% 11.49% 11.05% 8.69%
Current Ratio 3.45× 3.09× 2.65× 2.32× 2.24× 2.31×
Debt-to-Equity 0.00× 0.01× 0.01× 0.04× 0.02× 0.01×
Effective Tax Rate 14.78% 15.29% 13.80% 20.75% 19.56% 19.79%
Cash Conversion Ratio 1.46× 1.31× 1.20× 1.40× 1.47× 2.02×
Accruals Ratio -0.07× -0.05× -0.03× -0.05× -0.05× -0.09×
SBC % of Revenue 3.24% 3.69% 3.13% 3.29% 3.47% 3.62%
CapEx Coverage 47.63× 31.11× 15.35× 13.19× 15.56× 23.58×
Free Cash Flow Per Share ¥15.44 ¥11.89 ¥10.16 ¥7.77 ¥6.93 ¥7.11

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 16.11B 14.43B 14.57B 13.99B 13.75B 11.29B
Cost of Goods and Services Sold 5.75B 5.41B 5.69B 6.34B 6.38B 5.32B
Gross Profit 10.35B 9.02B 8.88B 7.65B 7.37B 5.97B
Research and Development Expense 2.53B 2.40B 2.32B 2.18B 2.21B 1.59B
Operating Expenses 5.23B 4.96B 4.98B 4.80B 4.79B 3.75B
Operating Income (Loss) 5.12B 4.05B 3.90B 2.85B 2.58B 2.23B
Income Tax Expense (Benefit) 862.66M 748.21M 661.94M 729.55M 647.82M 466.18M
Earnings Per Share, Basic $1.52 $1.27 $1.29 $0.90 $0.80 $0.56
Weighted Average Number of Shares Outstanding, Basic 3.19B 3.20B 3.22B 3.26B 3.33B 3.31B
Earnings Per Share, Diluted $1.50 $1.26 $1.27 $0.89 $0.79 $0.55
Weighted Average Number of Shares Outstanding, Diluted 3.22B 3.23B 3.25B 3.30B 3.37B 3.35B

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 6.74B 7.04B 3.02B 3.61B 2.28B 1.40B
Assets, Current 25.83B 21.01B 20.10B 19.08B 17.75B 16.53B
Assets 31.66B 26.85B 26.19B 25.05B 24.11B 21.74B
Liabilities, Current 7.49B 6.80B 7.58B 8.24B 7.92B 7.16B
Long-term Debt, Excluding Current Maturities — 58.63M 60.28M 529.92M 200.10M —
Liabilities 8.05B 7.33B 8.15B 9.26B 8.51B 7.37B
Stockholders' Equity Attributable to Parent 22.92B 19.00B 17.51B 15.18B 14.96B 12.59B
Common Stock, Shares, Outstanding 3.19B 3.17B 3.21B 3.22B 3.27B 3.35B

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 7.26B 5.44B 4.98B 4.02B 3.91B 3.81B
Payments to Acquire Property, Plant, and Equipment 152.35M 174.73M 324.17M 304.51M 251.36M 161.77M
Net Cash Provided by (Used in) Investing Activities -4.74B 2.45B -2.40B -1.07B -1.11B -4.47B
Net Cash Provided by (Used in) Financing Activities -2.88B -3.74B -3.02B -1.48B -1.97B 1.52B

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

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Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (NTES CIK 0001110646), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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