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Company Analysis

NetEase, Inc. NTES

A comprehensive view of key metrics, scores, and financial health for NetEase, Inc.

Overview of NetEase, Inc.

NTES NMS
Communication Services Electronic Gaming & Multimedia Framework: General Corporate Large Cap
NetEase, Inc. (NTES), is a Large Cap company, in the Electronic Gaming & Multimedia industry, last closed at $115.49, about 56.6% overvalued vs fair value, -17.1% 1Y return, placing in the top 10% of its sector.
Metrics P/E 18.4× Rev Growth 7.0% ROE 22.6% Gross Margin 64.3% Div Yield 2.25%
USD 115.49
1.63%
(Delayed)
• Vol 90d: 39.1%
52-Week Range
Market Cap
$72.80B
Enterprise Value
$71.94B
Overall Score
View breakdown
Overall
Growth
Good
Profitability
Good
Health
Fair
Efficiency
Good
Valuation
Good
Growth
Good
Profitability
Good
Health
Fair
Efficiency
Good
Valuation
Good
Completeness: 94%
Confidence: 96%
Updated: Oct 31
Top Beats

Quick Facts

Website https://ir.netease.com
HQ Hangzhou
Fiscal year Dec 31

Next Events

Earnings Nov 19 Estimated

Fair Value Snapshot

Bear Base Bull
$45
$50
$55
Current: $115.49 -57% vs base

Engine Room Money Flow™

Large Cap

Corporate Free Cash Flow - Where revenue goes and how value is created

Flow Steps
Revenue
CNY 112.6B
7%%
Gross Profit
CNY 72.4B
10%%
Operating Income
CNY 35.8B
21.1%%
Net Income
CNY 33.8B
13.7%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Corporate Free Cash Flow

Quality & Reliability Indicators

Cash Conversion Ratio FY2025
144.2%
Excellent

Operating Cash Flow / Net Income

FCF / Net Income - measures how well earnings convert to cash

Locked Metric
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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

CNY 20.3B
41.6% of FCF

Where It Leaks

Cash Flow Health healthy
Strong cash conversion with minimal leakage across profit-to-cash-to-value chain.
0
Active Leaks
0/0
Improving
0
High Impact
0
Critical
Moat Analysis Corporate Default

Competitive Advantage Assessment

Evaluating NetEase, Inc.'s durable competitive advantages across 6 defense dimensions

Overall Moat Strength
83
/100
Strong
Scores based on quantitative metrics and qualitative factors
Full moat analysis

Key strengths

  • ROIC Sustainably Above Peers ROIC at 87.0th percentile exceeds peers and WACC, demonstrating superior capital allocation.
  • Margins Stable Across Cycles Operating margin volatility is low (stability score 0.73), demonstrating pricing resilience across cycles.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
72
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

vs Industry Peers 100% Coverage
Trade-Off Triangle Visualization A ternary plot showing NTES's balance between Growth (27.1%), Profitability (39.4%), and Safety (33.5%). Growth 27% Safety 34% Profitability 39%

Click axes to expand details. Marker shows current allocation.

3-Year Trend Analysis Locked
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Growth

63th percentile vs peers
64
Key Signals
Rev Growth YoY 7.0% 60p Revenue CAGR 3Y 5.3% 58p EPS CAGR 3Y 19.4% 74p EPS Growth YoY 14.1% 55p TSR 57.7% 86p
Strengths
  • Superior capital returns - 3 return metrics above peer median
  • Growth above peer median with strong metric coverage (100%)
  • TSR in top 20% of peers (57.7%, 86th percentile)
Risks

No significant risks identified for this axis.

Profitability

92th percentile vs peers
93
Key Signals
Strengths
Risks
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Safety

78th percentile vs peers
79
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for NetEase, Inc..

Loading valuation model...
Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
-
- - -
- upside
-
Base
$50.09
- - -
-56.6% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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