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NetEase Inc (NTES) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

COMMUNICATION SERVICES · ELECTRONIC GAMING & MULTIMEDIA · DATA UPDATED 2026-09-10

NetEase Inc (NTES) operates in the ELECTRONIC GAMING & MULTIMEDIA industry and is headquartered in Hangzhou, China with about 25,382 employees. Its market capitalization is roughly $74 billion. In the fiscal year ended 2025-12-31, NTES reported CNY 112.6B in revenue and CNY 33.8B in net income.

NetEase, Inc. engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally. The company operates through Games and Related Value-Added Services; Youdao; NetEase Cloud Music; and Innovative Businesses and Others segments.

Interactive charts & full statements → Open the NTES valuation workbench →

NTES Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	CNY 116.5B	CNY 112.6B	CNY 105.3B	CNY 103.5B	CNY 96.5B	CNY 87.6B	CNY 73.7B	CNY 59.2B	CNY 51.2B	CNY 44.4B	CNY 38.2B	CNY 22.8B	CNY 11.7B	CNY 9.2B	CNY 8.2B	CNY 7.3B	CNY 5.5B	CNY 3.8B	CNY 3.1B	CNY 2.2B	CNY 2.2B
Gross Profit	CNY 78.2B	CNY 72.4B	CNY 65.8B	CNY 63.1B	CNY 52.8B	CNY 47.0B	CNY 39.0B	CNY 31.6B	CNY 28.4B	CNY 25.9B	CNY 21.7B	CNY 13.4B	CNY 8.5B	CNY 6.7B	CNY 5.6B	CNY 4.9B	CNY 2.8B	CNY 2.8B	CNY 2.5B	CNY 1.8B	CNY 1.8B
Gross Margin %	67.2%	64.3%	62.5%	61.0%	54.7%	53.6%	52.9%	53.3%	55.5%	58.3%	56.7%	58.8%	72.2%	73.0%	68.6%	67.5%	50.6%	74.1%	81.9%	81.2%	82.4%
Operating Income (EBIT)	CNY 41.0B	CNY 35.8B	CNY 29.6B	CNY 27.7B	CNY 19.6B	CNY 16.4B	CNY 14.5B	CNY 13.8B	CNY 10.0B	CNY 13.0B	CNY 12.6B	CNY 7.3B	CNY 4.8B	CNY 4.4B	CNY 3.7B	CNY 3.3B	CNY 2.5B	CNY 2.02T	CNY 1.9B	CNY 1.2B	CNY 1.3B
Operating Margin %	35.2%	31.8%	28.1%	26.8%	20.3%	18.7%	19.7%	23.3%	19.5%	29.2%	33.1%	31.9%	40.7%	47.3%	45.3%	45.6%	46.2%	53858.5%	62.1%	54.5%	59.1%
Net Income	CNY 32.5B	CNY 33.8B	CNY 29.7B	CNY 29.4B	CNY 20.3B	CNY 16.9B	CNY 12.1B	CNY 21.2B	CNY 6.2B	CNY 10.7B	CNY 11.6B	CNY 6.7B	CNY 4.8B	CNY 4.4B	CNY 3.6B	CNY 3.2B	CNY 2.2B	CNY 1.9B	CNY 1.6B	CNY 1.3B	CNY 1.2B
Net Margin %	27.9%	30.0%	28.2%	28.4%	21.1%	19.2%	16.4%	35.9%	12.0%	24.1%	30.4%	29.5%	40.6%	48.3%	44.4%	44.4%	40.6%	49.2%	51.8%	57.1%	57.4%
EBITDA	CNY 45.4B	CNY 43.1B	CNY 38.1B	CNY 37.1B	CNY 27.1B	CNY 24.4B	CNY 18.0B	CNY 16.4B	CNY 12.0B	CNY 13.8B	CNY 13.0B	CNY 7.5B	CNY 4.9B	CNY 4.5B	CNY 3.9B	CNY 3.6B	CNY 2.8B	CNY 2.2B	CNY 2.0B	CNY 1.3B	CNY 1.5B
Earnings Per Share (EPS)	CNY 50.37	CNY 52.29	CNY 45.96	CNY 45.23	CNY 30.20	CNY 25.03	CNY 18.01	CNY 32.67	CNY 9.45	CNY 16.15	CNY 17.54	CNY 10.19	CNY 7.26	CNY 6.82	CNY 5.53	CNY 4.94	CNY 3.44	CNY 2.86	CNY 2.47	CNY 1.91	CNY 1.78
Shares Outstanding (M)	644M	646M	646M	650M	673M	673M	670M	650M	651M	663M	661M	661M	655M	651M	658M	655M	650M	648M	647M	662M	700M

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NTES Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	CNY 30.0B	CNY 30.6B	CNY 27.5B	CNY 28.4B	CNY 27.9B	CNY 28.8B	CNY 26.7B	CNY 26.2B
Gross Profit	CNY 21.2B	CNY 21.2B	CNY 17.7B	CNY 18.2B	CNY 18.1B	CNY 18.5B	CNY 16.3B	CNY 16.5B
Gross Margin %	70.5%	69.4%	64.2%	64.1%	64.7%	64.1%	60.8%	62.9%
Operating Income (EBIT)	CNY 12.1B	CNY 12.7B	CNY 8.3B	CNY 8.0B	CNY 9.1B	CNY 10.4B	CNY 7.8B	CNY 7.1B
Operating Margin %	40.2%	41.4%	30.2%	28.3%	32.5%	36.2%	29.2%	27.3%
Net Income	CNY 7.0B	CNY 10.7B	CNY 6.2B	CNY 8.6B	CNY 8.6B	CNY 10.3B	CNY 8.8B	CNY 6.5B
Net Margin %	23.2%	34.9%	22.7%	30.4%	30.8%	35.7%	32.8%	24.9%
EBITDA	CNY 12.5B	CNY 13.8B	CNY 8.3B	CNY 10.7B	CNY 11.1B	CNY 12.9B	CNY 8.5B	CNY 8.5B
Earnings Per Share (EPS)	CNY 10.80	CNY 16.54	CNY 9.67	CNY 13.36	CNY 13.38	CNY 16.06	CNY 13.67	CNY 10.04
Shares Outstanding (M)	644M	645M	646M	645M	643M	641M	641M	651M

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NTES Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	CNY 51.1B	CNY 49.4B	CNY 39.7B	CNY 35.3B	CNY 27.7B	CNY 24.9B	CNY 24.9B	CNY 17.2B	CNY 13.4B	CNY 11.9B	CNY 15.5B	CNY 8.1B	CNY 5.9B	CNY 5.2B	CNY 4.2B	CNY 4.1B	CNY 2.1B	CNY 2.1B	CNY 2.0B	CNY 1.4B	CNY 1.6B
Capital Expenditures (CapEx)	CNY 1.2B	CNY 1.0B	CNY 2.2B	CNY 4.3B	CNY 2.6B	CNY 3.1B	CNY 3.3B	CNY 3.3B	CNY 6.9B	CNY 1.8B	CNY 1.1B	CNY 1.0B	CNY 618M	CNY 220M	CNY 179M	CNY 450M	CNY 613M	CNY 408M	CNY 134M	CNY 98M	CNY 143M
Free Cash Flow (FCF)	CNY 49.9B	CNY 48.3B	CNY 37.5B	CNY 31.1B	CNY 25.1B	CNY 21.8B	CNY 21.6B	CNY 13.9B	CNY 6.5B	CNY 10.0B	CNY 14.3B	CNY 7.0B	CNY 5.2B	CNY 5.0B	CNY 4.0B	CNY 3.6B	CNY 1.5B	CNY 1.7B	CNY 1.9B	CNY 1.3B	CNY 1.5B
FCF Margin %	42.8%	42.9%	35.6%	30.0%	26.0%	24.9%	29.3%	23.4%	12.8%	22.6%	37.6%	30.9%	44.7%	54.5%	49.3%	49.7%	26.9%	44.9%	61.1%	57.9%	67.2%
Dividends Paid	CNY 13.4B	CNY 13.4B	CNY 11.2B	CNY 8.0B	CNY 6.7B	CNY 3.5B	CNY 4.3B	CNY 8.8B	CNY 1.4B	CNY 3.3B	CNY 2.5B	CNY 1.5B	CNY 2.0B	CNY 815M	CNY 35M	—	—	—	—	—	—

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NTES Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	CNY 10.0B	CNY 13.7B	CNY 14.5B	CNY 12.9B	CNY 10.9B	CNY 12.1B	CNY 13.0B	CNY 10.6B
Capital Expenditures (CapEx)	CNY 21M	CNY 602M	CNY 136M	CNY 475M	CNY 503M	CNY 753M	CNY 312M	CNY 602M
Free Cash Flow (FCF)	CNY 10.0B	CNY 13.1B	CNY 14.3B	CNY 12.5B	CNY 10.4B	CNY 11.4B	CNY 12.7B	CNY 10.0B
FCF Margin %	33.2%	42.9%	52.0%	44.0%	37.1%	39.4%	47.5%	38.0%
Dividends Paid	CNY 3.2B	CNY 5.2B	CNY 2.5B	CNY 2.6B	CNY 3.1B	CNY 5.6B	CNY 2.0B	CNY 2.0B

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NTES Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	CNY 232.3B	CNY 221.6B	CNY 196.0B	CNY 185.9B	CNY 172.8B	CNY 153.6B	CNY 141.9B	CNY 112.1B	CNY 87.0B	CNY 71.0B	CNY 58.0B	CNY 41.2B	CNY 30.4B	CNY 24.5B	CNY 19.3B	CNY 15.4B	CNY 8.8B	CNY 8.8B	CNY 6.3B	CNY 4.7B	CNY 4.4B
Cash & Cash Equivalents	CNY 27.3B	CNY 51.5B	CNY 51.4B	CNY 21.4B	CNY 24.9B	CNY 14.5B	CNY 9.1B	CNY 3.2B	CNY 5.4B	CNY 2.8B	CNY 5.4B	CNY 6.1B	CNY 2.0B	CNY 1.5B	CNY 1.6B	CNY 2.2B	CNY 1.0B	CNY 1.0B	CNY 5.6B	CNY 2.5B	CNY 1.2B
Total Liabilities	CNY 60.7B	CNY 56.3B	CNY 53.5B	CNY 57.8B	CNY 63.9B	CNY 54.4B	CNY 58.9B	CNY 49.5B	CNY 40.9B	CNY 24.6B	CNY 19.6B	CNY 11.8B	CNY 6.9B	CNY 4.4B	CNY 3.7B	CNY 2.3B	CNY 1.4B	CNY 1.4B	CNY 829M	CNY 1.3B	CNY 1.5B
Total Debt (Short + Long-Term)	CNY 12.6B	CNY 6.4B	CNY 12.2B	CNY 19.9B	CNY 27.8B	CNY 21.0B	CNY 19.8B	CNY 16.8B	CNY 13.7B	CNY 6.6B	CNY 3.8B	CNY 2.3B	CNY 2.1B	CNY 976M	CNY 847M	CNY 659M	CNY 64M	CNY 278M	CNY 167M	CNY 642M	CNY 195M
Total Shareholders' Equity	CNY 167.2B	CNY 160.4B	CNY 142.5B	CNY 128.1B	CNY 108.9B	CNY 99.3B	CNY 83.0B	CNY 62.6B	CNY 46.0B	CNY 46.4B	CNY 38.5B	CNY 29.3B	CNY 23.5B	CNY 20.2B	CNY 15.6B	CNY 13.1B	CNY 7.4B	CNY 7.4B	CNY 5.5B	CNY 3.4B	CNY 2.9B

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NTES viewer.

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