NTES
NetEase Inc
NASDAQ: NTES · COMMUNICATION SERVICES · ELECTRONIC GAMING & MULTIMEDIA
$117.51
+3.54% today
Updated 2026-04-30
Market cap
$74.99B
P/E ratio
15.34
P/S ratio
0.67x
EPS (TTM)
$7.66
Dividend yield
2.53%
52W range
$101 – $157
Volume
0.8M
NetEase Inc (NTES) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.16B | $2.21B | $3.08B | $3.76B | $5.51B | $7.29B | $8.20B | $9.20B | $11.71B | $22.80B | $38.18B | $44.44B | $51.18B | $59.24B | $73.67B | $87.61B | $96.50B | $103.47B | $105.30B | $112.63B |
| Revenue growth (YoY) | — | +2.3% | +39.4% | +21.8% | +46.6% | +32.4% | +12.5% | +12.1% | +27.4% | +94.7% | +67.4% | +16.4% | +15.2% | +15.8% | +24.4% | +18.9% | +10.1% | +7.2% | +1.8% | +7.0% |
| Cost of revenue | $381.30M | $415.45M | $559.61M | $952.23M | $972.37M | $2.37B | $2.58B | $2.48B | $3.26B | $9.40B | $16.52B | $28.19B | $38.75B | $27.69B | $34.68B | $40.64B | $43.73B | $40.40B | $39.49B | $40.22B |
| Gross profit | $1.78B | $1.80B | $2.52B | $2.78B | $2.78B | $4.92B | $5.62B | $6.72B | $8.45B | $13.40B | $21.66B | $25.91B | $28.40B | $31.56B | $38.98B | $46.97B | $52.77B | $63.06B | $65.81B | $72.40B |
| Gross margin | 82.4% | 81.2% | 81.9% | 74.1% | 50.6% | 67.5% | 68.6% | 73.0% | 72.2% | 58.8% | 56.7% | 58.3% | 55.5% | 53.3% | 52.9% | 53.6% | 54.7% | 60.9% | 62.5% | 64.3% |
| R&D | $153.16M | $180.73M | $207.02M | $230.44M | $244.27M | $465.49M | $718.32M | $921.62M | $1.32B | $2.16B | $3.05B | $4.37B | $7.79B | $8.41B | $10.37B | $14.08B | $15.04B | $16.48B | $17.52B | $17.72B |
| SG&A | $179.88M | $176.18M | $181.84M | $212.53M | $165.21M | $280.23M | $286.22M | $349.83M | $467.67M | $1.01B | $1.51B | $2.43B | $3.19B | $3.13B | $3.37B | $4.26B | $4.70B | $4.90B | $4.55B | $4.23B |
| Operating income | $1.28B | $1.21B | $1.91B | $2.02T | $2.54B | $3.32B | $3.71B | $4.35B | $4.77B | $7.27B | $12.63B | $12.99B | $9.98B | $13.79B | $14.54B | $16.42B | $19.63B | $27.71B | $29.58B | $35.83B |
| Operating margin | 59.1% | 54.5% | 62.1% | 53858.5% | 46.2% | 45.6% | 45.3% | 47.3% | 40.7% | 31.9% | 33.1% | 29.2% | 19.5% | 23.3% | 19.7% | 18.7% | 20.3% | 26.8% | 28.1% | 31.8% |
| EBITDA | $1.45B | $1.30B | $2.01B | $2.17B | $2.78B | $3.62B | $3.90B | $4.51B | $4.94B | $7.45B | $12.96B | $13.79B | $12.04B | $16.40B | $18.00B | $19.69B | $22.49B | $30.76B | $32.00B | $38.07B |
| EBITDA margin | 67.1% | 58.9% | 65.0% | 57.7% | 50.4% | 49.6% | 47.5% | 49.1% | 42.2% | 32.7% | 33.9% | 31.0% | 23.5% | 27.7% | 24.4% | 22.5% | 23.3% | 29.7% | 30.4% | 33.8% |
| EBIT | $1.37B | $1.21B | $1.91B | $2.02B | $2.54B | $3.32B | $3.71B | $4.35B | $4.77B | $7.27B | $12.63B | $12.98B | $9.95B | $13.79B | $14.54B | $16.42B | $19.63B | $27.71B | $29.58B | $35.83B |
| Interest expense | $94.36M | $112.60M | $144.81M | $128.17M | $141.00M | $258.05M | $423.63M | $506.18M | $601.50M | $596.93M | $541.97M | $667.32M | $587.52M | $11.69B | $935.91M | $7.03B | $2.15B | — | — | — |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $1.24B | $1.26B | $1.60B | $1.85B | $2.24B | $3.23B | $3.64B | $4.44B | $4.76B | $6.74B | $11.60B | $10.71B | $6.15B | $21.24B | $12.06B | $16.86B | $20.34B | $29.42B | $29.70B | $33.76B |
| Net income growth (YoY) | — | +1.7% | +26.3% | +15.9% | +20.8% | +44.7% | +12.5% | +22.2% | +7.0% | +41.6% | +72.3% | -7.7% | -42.5% | +245.2% | -43.2% | +39.7% | +20.6% | +44.6% | +1.0% | +13.7% |
| Profit margin | 57.4% | 57.1% | 51.8% | 49.3% | 40.6% | 44.4% | 44.4% | 48.3% | 40.6% | 29.5% | 30.4% | 24.1% | 12.0% | 35.8% | 16.4% | 19.2% | 21.1% | 28.4% | 28.2% | 30.0% |