NetEase, Inc.
NTES
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Bull / bear case
Site-generated summary from fundamentals, news, and score — not investment advice. As of 2026-10-08.
- NetEase, Inc. has a strong operating margin of 40.2%, indicating efficient management and profitability in the competitive gaming industry.
- In Q2 2026, NetEase reported a revenue of $30.1 billion, showing a slight decrease of 2% compared to the previous quarter.
- The gross margin improved to 70.5% in Q2 2026, up from 69.4% in Q1 2026.
- The earnings growth for NetEase has declined by 18.7%, raising concerns about future profitability amidst increasing competition.
- Net income for Q2 2026 was $6.98 billion, down from $10.67 billion in Q1 2026, indicating a significant drop in profitability.
- The trailing P/E ratio stands at 16.54, which may suggest overvaluation compared to industry peers.
Fundamentals
| Market cap | $76.58B | Enterprise value | $224.77B | Trailing P/E | 16.61 | Forward P/E | 11.12 |
| PEG | 1.20 | Price / book | 15.37 | Beta | 0.77 | Dividend yield | 2.45% |
| Revenue growth | 7.9% | Earnings growth | -18.7% | Gross margin | 67.2% | Operating margin | 40.2% |
| Profit margin | 27.9% | ROE | 20.4% | ROA | 11.7% | Debt / equity | 0.07 |
| Current ratio | 3.45 | Free cash flow | $32.77B | Analyst recommendation | strong_buy | Mean target | $163.11 |
| 52w high | $156.44 | 52w low | $106.06 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | |
|---|---|---|---|---|---|
| Revenue | $30.1B | $30.6B | $27.5B | $28.4B | $27.9B |
| Op margin | 40.2% | 41.4% | 30.2% | 28.3% | 32.5% |
| Net income | $7.0B | $10.7B | $6.2B | $8.6B | $8.6B |
| Gross margin | 70.5% | 69.4% | 64.2% | 64.1% | 64.7% |
| Gross profit | $21.2B | $21.2B | $17.7B | $18.2B | $18.1B |
| Operating income | $12.1B | $12.7B | $8.3B | $8.0B | $9.1B |
- Revenue -2% vs prior quarter ($30.1B vs $30.6B).
- Gross margin 70.5% (was 69.4% prior quarter).
Yearly (6y)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $112.6B | $105.3B | $103.5B | $96.5B | — |
| Op margin | 31.8% | 28.1% | 26.8% | 20.3% | — |
| Net income | $33.8B | $29.7B | $29.4B | $20.3B | — |
| Gross margin | 64.3% | 62.5% | 60.9% | 54.7% | — |
| Gross profit | $72.4B | $65.8B | $63.1B | $52.8B | — |
| Operating income | $35.8B | $29.6B | $27.7B | $19.6B | — |
No flags
• No distress or material-risk keywords in recent headlines (keyword scan only — not a guarantee).
News
2026-10-08 · Netease Cloud Music, Gamma Agree to Multi-Year Partnership in China
2026-09-28 · NetEase's Ananta Could Drive 2027 Growth, Morgan Stanley Says
2026-09-28 · Are Options Traders Betting on a Big Move in NetEase Stock?
2026-09-23 · 3 High-Yield Stocks Near Their 52-Week Lows That Dividend Income Investors Are Sleeping On
2026-09-22 · BNP Paribas Initiates Netease at Outperform With $180 Price Target
2026-09-10 · The $71B Shadow Market: What DeepSeek’s Valuation Signals for Chinese AI
2026-08-27 · NetEase’s (NTES) Old Hits Are Still Doing The Heavy Lifting
2026-08-22 · NetEase (SEHK:9999) Stock May Trade At A 38% Discount To Fair Value
2026-08-21 · NetEase (NTES) Q2 2026 Earnings Call Transcript
2026-08-20 · NetEase Inc (NTES) (Q2 2026) Earnings Call Highlights: Strong Game Revenue Growth and Margin ...
Price (daily)
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