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NetEase, Inc. (9999.HK)

HKD201.80 -5.20 (-2.51%)
CN HKSE Technology Electronic Gaming & Multimedia
Address NetEase Building 310052
Hangzhou, CN
CEO Lei Ding
Website netease.gcs-web.com
IPO 2020-06-11
ISIN KYG6427A1022

Explore sections of this company profile

Also trades on Hong Kong Stock Exchange · 9999.HK (HKD) NASDAQ Global Select · NTES (USD) Other OTC · NETTF (USD)
Description

NetEase, Inc. delivers a broad spectrum of online services across the People's Republic of China and internationally, focusing on diverse areas such as content, community engagement, communication, and e-commerce. Its business is structured into four main segments: Online Game Services, Youdao, Cloud Music, and Innovative Businesses and Others. The company develops and operates its own PC and mobile games, in addition to publishing titles licensed from other developers. Its Youdao segment is dedicated to education technology, offering digital knowledge and translation tools like Youdao Dictionary and U-Dictionary, along with smart learning devices such as the Dictionary Pen and Smart Lamp. This segment also provides online courses, interactive learning apps, and enterprise solutions, including the AI-driven Youdao Smart Learning Terminal for schools and Youdao Smart Cloud for advanced OCR and neural machine translation capabilities. NetEase Cloud Music forms the core of its Cloud Music segment, operating as a popular music streaming platform. The Innovative Businesses and Others segment encompasses offerings like Yanxuan, an e-commerce platform selling private label general merchandise; NetEase Media, an internet media platform; NetEase Mail for email services; NetEase CC Live, a live streaming platform primarily for game content; and NetEase Pay, a payment service. Established in 1997 and based in Hangzhou, People's Republic of China, the company changed its name from NetEase.com, Inc. to NetEase, Inc. in March 2012.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
HKD201.80 -5.20 (-2.51%)
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Volume Profile
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Liquidity & share structure
Average Volume
7M
Beta
0.80
Float Shares
1.74B
Free Float %
54.5%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.73% +4.24% +8.44% +8.31% -9.30% -9.55% +1.78% +39.14% +3.35% +49.31% +49.31%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (26 ratings, all time) Buy
Price Targets & DCF
Current price
201.80
DCF (Unlevered) 294.31 +45.8%
DCF (Levered) 429.47 +112.8%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 95% Bullish
Rating 2026-05 Change
Strong Buy 4 0
Buy 17 -1
Hold 0 0
Sell 1 0
Strong Sell 0 0
Quality scores
Altman Z-Score
6.94
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
9 / 10
Strong MOAT
Composite Rating
A+
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
3 / 5
Medium
P/Book Score
3 / 5
Medium
Operational MOAT
✗ Below peers ★ Strong MOAT
  • ✓
    Revenue growth Electronic Gaming & Multimedia: +4.1%
    +7.0% ★ Q1'26: +6.1% (vs Q1'25)
  • ✓
    EPS growth Electronic Gaming & Multimedia: +20.0%
    +13.7% Q1'26: +3.1% (vs Q1'25)
  • ✓
    FCF margin FCF growth · Electronic Gaming & Multimedia: +41.4%
    +35.1% Q1'26: +42.9% (vs Q1'25)
  • ✓
    EBIT margin Electronic Gaming & Multimedia: +10.3%
    +31.8% ★ Q1'26: +41.4% (vs Q1'25)
  • ✓
    ROIC Electronic Gaming & Multimedia: +6.6%
    +669.7% ★ Q1'26: +436.9% (vs Q1'25)
  • ✓
    Share dilution Electronic Gaming & Multimedia: +0.0%
    -0.1% ★ Q1'26: +0.7% (vs Q1'25)
  • ✓
    Debt / EBITDA Net debt/EBITDA · Electronic Gaming & Multimedia: -1.53×
    0.17× ★ Q1'26: 0.21× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.80) × ERP
WACC = 99% × Ke + 1% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 294.31 Current price: 201.80
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual 		Dec 2016
actual 		Dec 2017
actual 		Dec 2018
actual 		Dec 2019
actual 		Dec 2020
actual 		Dec 2021
actual 		Dec 2022
actual 		Dec 2023
actual 		Dec 2024
actual 		Dec 2025
actual 		Dec 2026
30 Rev. Ana.
12 EPS Ana. 		Dec 2027
29 Rev. Ana.
13 EPS Ana. 		Dec 2028
22 Rev. Ana.
9 EPS Ana. 		Dec 2029
18 Rev. Ana.
11 EPS Ana.
Revenue
22.80B
est: 27.12B (-15.9%)
38.18B
est: 42.28B (-9.7%)
44.44B
est: 64.40B (-31.0%)
51.18B
est: 77.04B (-33.6%)
59.24B
est: 70.02B (-15.4%)
73.67B
est: 87.37B (-15.7%)
87.61B
est: 107.10B (-18.2%)
96.50B
est: 108.84B (-11.3%)
103.47B
est: 113.91B (-9.2%)
105.30B
est: 106.74B (-1.4%)
112.63B
est: 112.56B (+0.1%)
122.58B
117.77B – 125.26B
+8.9% YoY
132.97B
128.09B – 140.01B
+8.5% YoY
142.35B
136.95B – 147.76B
+7.1% YoY
156.13B
150.21B – 162.07B
+9.7% YoY
EBITDA
7.45B
est: 7.07B (+5.4%)
12.96B
est: 11.02B (+17.6%)
13.79B
est: 16.79B (-17.9%)
12.04B
est: 20.08B (-40.1%)
16.40B
est: 18.25B (-10.1%)
18.00B
est: 22.78B (-21.0%)
19.69B
est: 33.60B (-41.4%)
22.49B
est: 39.62B (-43.2%)
30.76B
est: 45.63B (-32.6%)
32.00B
est: 49.52B (-35.4%)
38.07B
est: 51.95B (-26.7%)
56.57B
54.35B – 57.81B
+8.9% YoY
61.37B
59.11B – 64.61B
+8.5% YoY
65.69B
63.20B – 68.19B
+7.1% YoY
72.06B
69.32B – 74.80B
+9.7% YoY
EBIT
7.27B
est: 6.17B (+17.9%)
12.63B
est: 9.61B (+31.4%)
12.99B
est: 14.64B (-11.3%)
9.98B
est: 17.52B (-43.0%)
13.79B
est: 15.92B (-13.4%)
14.54B
est: 19.87B (-26.8%)
16.42B
est: 16.26B (+1.0%)
19.63B
est: 19.17B (+2.4%)
27.71B
est: 22.08B (+25.5%)
29.58B
est: 36.94B (-19.9%)
35.83B
est: 51.38B (-30.3%)
55.96B
53.76B – 57.18B
+8.9% YoY
60.70B
58.47B – 63.91B
+8.5% YoY
64.98B
62.51B – 67.45B
+7.1% YoY
71.27B
68.57B – 73.98B
+9.7% YoY
Net Income
6.74B
est: 7.75B (-13.1%)
11.60B
est: 12.25B (-5.3%)
10.71B
est: 13.33B (-19.7%)
6.15B
est: 9.70B (-36.6%)
21.24B
est: 16.21B (+31.0%)
12.06B
est: 17.54B (-31.2%)
16.86B
est: 25.04B (-32.7%)
20.34B
est: 29.52B (-31.1%)
29.42B
est: 34.00B (-13.5%)
29.70B
est: 33.39B (-11.1%)
33.76B
est: 39.12B (-13.7%)
42.78B
40.53B – 44.82B
+9.4% YoY
47.18B
35.35B – 52.22B
+10.3% YoY
51.02B
48.51B – 53.54B
+8.1% YoY
56.28B
53.51B – 59.06B
+10.3% YoY
SGA
3.97B
est: 5.03B (-21.0%)
5.99B
est: 7.84B (-23.6%)
7.89B
est: 11.94B (-33.9%)
9.99B
est: 14.28B (-30.0%)
9.35B
est: 12.98B (-27.9%)
14.08B
est: 16.19B (-13.1%)
16.48B
est: 11.02B (+49.5%)
18.10B
est: 13.00B (+39.2%)
18.87B
est: 14.97B (+26.0%)
18.70B
est: 19.38B (-3.5%)
18.85B
est: 20.33B (-7.3%)
22.14B
21.27B – 22.62B
+8.9% YoY
24.01B
23.13B – 25.28B
+8.5% YoY
25.71B
24.73B – 26.68B
+7.1% YoY
28.20B
27.13B – 29.27B
+9.7% YoY
EPS
2.05
est: 2.40 (-14.6%)
3.54
est: 3.79 (-6.6%)
3.51
est: 4.13 (-15.0%)
2.56
est: 3.00 (-14.8%)
4.12
est: 5.02 (-17.9%)
3.65
est: 5.43 (-32.8%)
5.07
est: 6.32 (-19.7%)
6.04
est: 7.69 (-21.4%)
9.15
est: 10.67 (-14.2%)
9.28
est: 9.94 (-6.6%)
10.58
est: 12.12 (-12.7%)
13.25
12.56 – 13.88
+9.4% YoY
14.62
10.95 – 16.18
+10.3% YoY
15.81
15.03 – 16.59
+8.1% YoY
17.44
16.58 – 18.30
+10.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-28 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-27 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-26 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-22 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-21 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-20 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-19 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-18 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-15 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-14 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-13 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-12 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-11 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-08 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-07 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-06 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-05 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-04 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-04-30 A 4/5 5/5 4/5 5/5 3/5 3/5 3/5
2026-04-29 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-28 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-27 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-24 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-23 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-22 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-21 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-20 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-17 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-16 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5
2026-04-15 A 4/5 5/5 4/5 5/5 3/5 3/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
51.09B
OE per share TTM
15.85
Owner's Yield
8.23%
Maintenance CapEx ratio
4.43%
Maint CapEx / Avg PPE
7.3%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders
# Investor ⇅ Shares / Δ ⇅ Mkt value / Δ ⇅ Own% / Δ ⇅ Weight% / Δ ⇅ Avg px / Perf. ⇅ Hold / Status ⇅
1 OLD MISSION CAPITAL LLC — -107.1K (-100.0%) — -14.4M (-100.0%) 0.00% -0.003 pp 0.00% -0.240 pp HKD— 2 qtrs SOLD
Ownership breakdown by holder

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
1.38M
Shares Outstanding
3.19B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Aileen Bin Mo Vice President of Finance — female
Bill Pang Vice President of Corporate Development — male
Lei Ding Founder, Chief Executive Officer & Director — male
Margaret Shi IR Director — female
Paul W. Boltz Jr. General Counsel — male
Ryutaro Ichimura President & Representative Director of PinCool Inc. — —
Yingfeng Ding Consultant — male
ESG Rating
E (Environmental)
11.8
S (Social)
32.5
G (Governance)
24.8
ESG Total
23.0
ESG Score History
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.

Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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