NetEase, Inc. (NTES): price, analyst ratings, earnings and fundamentals
Updated 16 September 2026, 08:02 ET
NetEase, Inc. (NTES) closed at $119.49 on 15 September 2026, up 1.3%. The stock is down 4.5% over one month and down 21.8% over one year. It trades 25.1% below its 52-week high of $159.55. The company last reported on 20 August 2026 for Q2 2026: EPS of $1.77 against an estimate of $2.28, a miss of 22.4%, on revenue of $4.4 billion.
Price and performance
Performance figures use dividend and split adjusted closes over trading sessions, so a one-year move compares the last close with the close 252 sessions earlier. The 52-week range uses the adjusted daily highs and lows of the same window. Read the guide: Momentum, trend and technical indicators.
The live chart with technical indicators is in the app: open NTES in FundSpec.
Analyst ratings
No analyst action on NTES was recorded in the last 90 days; the most recent is from 12 February 2026.
| Date | Firm | Action | Price target |
|---|---|---|---|
| 12 Feb 2026 | Barclays | Maintains Equal-Weight | $135.00 to $132.00 |
| 21 Nov 2025 | Barclays | Maintains Equal-Weight | $120.00 to $135.00 |
| 21 Nov 2025 | Benchmark | Maintains Buy | $145.00 to $158.00 |
| 10 Oct 2025 | JP Morgan | Upgrades to Overweight from Neutral | $138.00 to $190.00 |
| 18 Aug 2025 | Barclays | Maintains Equal-Weight | $118.00 to $120.00 |
| 28 Jul 2025 | JP Morgan | Downgrades to Neutral from Overweight | $135.00 to $140.00 |
| 19 May 2025 | JP Morgan | Maintains Overweight | $120.00 to $135.00 |
| 16 May 2025 | Barclays | Maintains Equal-Weight | $104.00 to $118.00 |
| 24 Feb 2025 | Barclays | Maintains Equal-Weight | $82.00 to $104.00 |
| 21 Feb 2025 | Benchmark | Maintains Buy | $105.00 to $115.00 |
A price target is one firm's twelve-month view, and the median across firms is a steadier reading than any single call. Upgrades and downgrades matter more when they change a rating, not only a target. Read the guide: What analyst ratings and price targets actually tell you.
Every action with the firm's history is in Analyst Ratings.
Earnings
The next report is scheduled for 19 November 2026 before the open for Q3 2026, with EPS expected at $2.32 on revenue of $4.5 billion. NetEase, Inc. beat the EPS estimate in 6 of its last 8 reported quarters.
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue |
|---|---|---|---|---|---|
| Q2 2026 | 20 Aug 2026 | $2.28 | $1.77 | -22.37% | $4.4B |
| Q1 2026 | 21 May 2026 | $2.02 | $2.53 | +25.25% | $4.4B |
| Q4 2025 | 11 Feb 2026 | $1.85 | $1.57 | -15.14% | $3.9B |
| Q3 2025 | 20 Nov 2025 | $1.88 | $2.07 | +10.11% | $4.0B |
| Q2 2025 | 14 Aug 2025 | $1.85 | $2.07 | +11.89% | $3.9B |
| Q1 2025 | 15 May 2025 | $2.01 | $2.41 | +19.90% | $4.0B |
| Q4 2024 | 20 Feb 2025 | $1.77 | $2.07 | +16.95% | $3.7B |
| Q3 2024 | 14 Nov 2024 | $1.61 | $1.66 | +3.11% | $3.7B |
An earnings surprise is the reported EPS against the consensus estimate on the day. The price reaction depends as much on guidance and on what was already priced in as on the surprise itself. Read the guide: Earnings season: estimates, surprises and price reaction.
Estimates, confirmed dates and alerts for every company are in Earnings.
Fundamentals
On a trailing twelve month basis the company shows revenue growth of 6.96%, a gross margin of 64.29%, an operating margin of 31.82% and a return on equity of 23.28%.
Assets
| Line | Amount |
|---|---|
| Cash & Cash Equivalents | $47,167,904,000 |
| Restricted Cash | $4,319,344,000 |
| Short-term Investments | $22,803,503,000 |
| Accounts & Notes Receivable, Net | $5,337,819,000 |
| Prepaid Expenses | $7,658,346,000 |
| Inventory | $689,183,000 |
| Other Current Assets | $198,065,000 |
| Total Current Assets | $180,615,477,000 |
| Plant, Property & Equipment, Net | $8,425,327,000 |
| Operating Lease Right-of-Use Assets | $320,298,000 |
| Long-term Investments | $18,462,883,000 |
| Other Investments | $196,081,000 |
| Goodwill Intangible Assets, Net | $1,855,320,000 |
| Deferred Tax Asset | $2,831,423,000 |
| Other Long-term Assets | $3,713,404,000 |
| Total Assets | $221,415,060,000 |
Liabilities and equity
| Line | Amount |
|---|---|
| Accounts Payable & Accrued Expenses | $643,164,000 |
| Operating Lease Liabilities, Current | $113,212,000 |
| Income Taxes Payable | $2,790,853,000 |
| Deferred Liability Charges | $20,514,540,000 |
| Total Current Liabilities | $52,368,956,000 |
| Long-term Debt | $427,997,000 |
| Operating Lease Liabilities, Long-term | $232,113,000 |
| Deferred Income Taxes | $2,637,258,000 |
| Minority Interest | $4,716,571,000 |
| Other Liabilities | $1,072,724,000 |
| Total Liabilities | $56,311,051,000 |
| Common Stock | $2,631,000 |
| Retained Earnings | $149,755,000,000 |
| Treasury Stock | -$1,518,573,000 |
| Other Accumulated Comprehensive Income | -$237,770,000 |
| Total Stockholders Equity | $160,296,119,000 |
| Total Liability & Stockholders Equity | $221,415,060,000 |
Figures as filed with the SEC for the period ended 31 December 2025, in US dollars.
FundSpec fundamental metrics
Each metric is computed from the company's filings and ranked against every company FundSpec covers; the percentile is the share of covered companies with a lower value.
Liquidity
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Cash Ratio | 1.34 | 78th | Calculated as the ratio of Cash and cash equivalents / Current liabilities. This metric calculates the company's ability to repay its short-term debt |
| Current Ratio | 3.45 | 82nd | Calculated as the ratio of Current Assets / Current Liabilities. The higher the current ratio, the more capable the company is of paying its obligations |
| Quick Ratio | 1.44 | 70th | Calculated as the ratio of (Cash + Marketable Securities + Accounts Receivable) / Current Liabilities. The quick ratio is a measure of how well a company can meet its short-term financial liabilities. |
Leverage
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Debt/Assets | 0.00 | 38th | Calculated as the ratio of Short-Term Debt + Long-Term Debt / Total Assets. The higher the ratio, the higher the degree of leverage, and consequently, financial risk |
| Debt/Equity | 0.00 | 31st | Calculated as the ratio of Total Liabilities / Shareholders' Equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity |
| Degree of Operational Leverage | 3.03 | 76th | Calculated as the ratio of Percentage change in EBIT / Percentage change in revenue. It is a measure of how earnings for the company is impacted by its sales activity. |
| Long Term Debt/Long Term Capital | 0.00 | 6th | Calculated as Long-Term Debt / (Long-Term Debt + Shareholders' Equity). The ratio is an indicator of the company's leverage |
Earnings Growth (EBIT)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| EBIT Pct Growth | 21.1% | 22nd | The EBIT growth rate over the trailing twelve months (TTM) |
| EBIT Pct Growth 3 year CAGR | 22.2% | 71st | The EBIT compound annual growth rate (CAGR) over the past 3 years |
| EBIT Pct Growth 5 year CAGR | 19.8% | 51st | The Adjusted EBIT compound annual growth rate (CAGR) over the past 5 years |
Earnings Growth (EBITDA)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| EBITDA Pct Growth | 19.0% | 20th | The EBITDA growth rate over the trailing twelve months (TTM) |
| EBITDA Pct Growth 3 year CAGR | 69.4% | 20th | The EBITDA compound annual growth rate (CAGR) over the past 3 years |
| EBITDA Pct Growth 5 year CAGR | 111.6% | 25th | The EBITDA compound annual growth rate (CAGR) over the past 5 years |
Profitability
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Free Cashflow Margin Pct | 44.1% | 95th | Calculated as the ratio of Free Cashflow from Operating Activities / Net Sales. It measures how much per dollar of revenue the company is able to convert into free cash flow. |
| Gross Margin Pct | 64.3% | 77th | Calculated as the ratio of Revenue - Cost of Goods Sold (COGS) / Revenue. The gross margin represents the percent of total sales revenue that the company retains after incurring the direct costs associated with producing the goods and services sold by a company. |
| Operating Margin Pct | 31.8% | 90th | Calculated as the ratio of (Revenue - (Cost of Goods Sold + Labour + Sales, General & Administrative)) / Revenue. Operating margins are important because they measure efficiency. The higher the operating margin, the more profitable a company's core business is. |
| Operating Profit Pct Growth | 21.1% | 62nd | The Operating Profit growth rate over the trailing twelve months (TTM) |
| Operating Profit Pct Growth 3 year CAGR (FY) | 22.2% | 77th | The Operating Profit compound annual growth rate (CAGR) over the past 3 years |
| Operating Profit Pct Growth 5 year CAGR (FY) | 19.8% | 81st | The Operating Profit compound annual growth rate (CAGR) over the past 5 years |
| PreTax Margin Pct | 36.3% | 91st | Calculated as the ratio of (Gross profit - (Operating Expense + Interest Expense)) / Revenue. The pretax profit margin enables profitability to be compared across companies with significant differences in size, scale, capital structure and tax rates. |
| Return on Assets Pct | 16.7% | 95th | Calculated as the ratio of Net Income / Total Assets. It is an indicator of how efficient the company is at using its assets to generate earnings. |
| Return on Equity Pct | 23.3% | 88th | Calculated as the ratio of Net Income / Shareholders' equity. It is a measure of how much profit a company generates with the money shareholders have invested. |
| Return on Invested Capital Pct | 20.4% | 89th | Calculated as the ratio of (Net Income - Dividends) / (Debt + Equity). It is a measure of how efficient the company is at allocating the capital under its control to profitable investments. |
Cashflow
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| FCF Pct Growth | 29.4% | 64th | The Free Cash Flow growth rate over the trailing twelve months (TTM) |
| FCF Pct Growth 3 year CAGR | 94.0% | 74th | The Free Cash Flow compound annual growth rate (CAGR) over the past 3 years |
| FCF Pct Growth 5 year CAGR | 108.4% | 70th | The Free Cash Flow compound annual growth rate (CAGR) over the past 5 years |
| FCF Return on Assets Pct | 23.8% | 98th | Calculated as the ratio of Cashflow from Operations / Total Assets. A high cash return on assets means a company is generating more cash flow from every asset dollar |
| Operating Cashflow Pct Growth | 27.9% | 65th | The Operating Cashflow growth rate over the trailing twelve months (TTM) |
| Operating Cashflow Pct Growth 3 year CAGR (FY) | 22.3% | 76th | The Operating Cashflow compound annual growth rate (CAGR) over the past 3 years |
| Operating Cashflow Pct Growth 5 year CAGR (FY) | 15.3% | 77th | The Operating Cashflow compound annual growth rate (CAGR) over the past 5 years |
Earnings Growth (Net Income)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Net Income Pct Growth | 15.0% | 54th | The Net Income growth rate over the trailing twelve months (TTM) |
| Net Income Pct Growth 3 year CAGR | 20.6% | 75th | The Net Income compound annual growth rate (CAGR) over the past 3 years |
| Net Income Pct Growth 5 year CAGR | 23.1% | 83rd | The Net Income compound annual growth rate (CAGR) over the past 5 years |
Top Line Growth
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Revenue Pct Growth | 7.0% | 53rd | The Revenue (Sales) growth rate over the trailing twelve months (TTM) |
| Revenue Pct Growth 3 year CAGR | 5.3% | 51st | The Revenue (Sales) compound annual growth rate (CAGR) over the past 3 years |
| Revenue Pct Growth 5 year CAGR | 8.9% | 56th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 5 years |
Taxes
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Effective Tax Rate Pct | 14.8% | 57th | The effective tax rate of the company over the trailing twelve months (TTM). |
Margins and returns say how much of each dollar of sales becomes profit and how hard the balance sheet is working; leverage and liquidity say how much room the company has when conditions turn. Read the guide: A practical guide to discounted cash flow valuation.
Fair value, peer multiples and the full statement history are in the app: open NTES in FundSpec.
SEC filings
The latest filing is a 20-F from 15 April 2026.
| Filed | Form | Document |
|---|---|---|
| 15 Apr 2026 | 20-F | View on sec.gov |
| 15 Apr 2025 | 20-F | View on sec.gov |
| 25 Apr 2024 | 20-F | View on sec.gov |
| 27 Apr 2023 | 20-F | View on sec.gov |
| 28 Apr 2022 | 20-F | View on sec.gov |
| 28 Apr 2021 | 20-F | View on sec.gov |
| 29 Apr 2020 | 20-F | View on sec.gov |
| 26 Apr 2019 | 20-F | View on sec.gov |
| 20 Apr 2018 | 20-F | View on sec.gov |
| 21 Apr 2017 | 20-F | View on sec.gov |
Company profile
- Exchange
- Nasdaq
- Sector
- Software and Business Services
- Industry
- Computer Software
- Headquarters
- HANGZHOU
- Chief executive
- Lei Ding
- Employees
- 32,100
- Website
- netease.gcs-web.com
- SEC CIK
- 0001110646
NetEase, Inc. provides online services focusing on diverse content, community, communication, and commerce. The company operates in three segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. It develops and operates PC and mobile games, as well as offers games licensed from other game developers.
Sector and peers
NetEase, Inc. is part of the Software and Business Services sector, which FundSpec tracks across 462 companies.
Companies in the same industry by market capitalization:
BABA Alibaba Group Holding LtdSAP Sap SeSPGI S&P Global Inc.PDD PDD Holdings Inc.ABNB Airbnb, Inc.MCO Moodys Corp. /De/SE Sea LtdURI United Rentals, Inc.
Put two of them side by side in Compare.
In FundSpec: the fair value estimate, the momentum reading, relative valuation against sector and industry peers, unusual options activity and AI model signals for NTES are available to subscribers, with the same screen in the iOS and Android apps.
Open NTES in FundSpec