NetEase Inc
Research NetEase Inc (NTES) on Bullrun: valuation model: 3.8% undervalued, market cap USD 79.54B, P/E 17.2, dividend yield 2.3%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerNTES
- ExchangeNASDAQ
- CountryChina
- SectorCommunication Services
- IndustryElectronic Gaming & Multimedia
- CurrencyUSD
- Valuation signal3.8% undervalued
- Market capUSD 79.54B
- P/E17.2
- Dividend yield2.3%
- Financial periodQ2 2026
- RevenueCNY 30.11B
- Net incomeCNY 6.98B
- Free cash flowCNY 9.89B
- Gross margin70.5%
Valuation Snapshot
Bullrun's latest valuation model marks NetEase Inc as 3.8% undervalued; latest market cap is USD 79.54B; P/E is 17.2; dividend yield is 2.3%.
Peer valuation comparison
Latest P/E is 17.23x versus a Communication Services sector median of 16.24x (6.1% above).
Latest dividend yield is 2.34% versus a Communication Services sector median of 3.73% (37.2% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | CNY 112.63B | CNY 33.76B | CNY 48.69B | 64.3% | 52.4 | CNY 47.17B | CNY 6.73B | CNY 160.30B |
| FY2024 | CNY 105.30B | CNY 29.70B | CNY 37.47B | 62.5% | 45.95 | CNY 51.38B | CNY 12.82B | CNY 138.69B |
| FY2023 | CNY 103.47B | CNY 29.42B | CNY 31.06B | 60.9% | 45.25 | CNY 21.43B | CNY 20.48B | CNY 124.29B |
| FY2022 | CNY 96.50B | CNY 20.34B | CNY 25.07B | 54.7% | 30.85 | CNY 24.89B | CNY 28.46B | CNY 104.73B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-10-09 | USD 79.54B | 17.2 | 2.4% | 2.93 |
| 2025 | 2025-12-31 | USD 87.14B | 18.9 | 1.3% | 1.82 |
| 2024 | 2024-12-31 | USD 56.52B | 14.0 | 2.3% | 2.02 |
| 2023 | 2023-12-29 | USD 60.08B | 16.0 | 1.9% | 1.77 |
| 2022 | 2022-12-30 | USD 47.70B | 14.3 | 2.1% | 1.53 |
| 2021 | 2021-12-31 | USD 66.64B | 26.2 | 0.8% | 0.83 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 2.93 USD, yield 2.3%.
| Year | Dividends/share |
|---|---|
| FY2025 | 1.82 CNY |
| FY2024 | 2.02 CNY |
| FY2023 | 1.77 CNY |
| FY2022 | 1.53 CNY |
About NetEase Inc
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. It develops and operates mobile and PC games; and offers games licensed from other developers.
ETFs that hold NetEase Inc
NetEase Inc is one of the ten largest holdings of one ETF that investors in Europe can buy:
| ETF | Weight | TER |
|---|---|---|
| VanEck Video Gaming and eSports UCITS ETF A USD | 7.97% | 0.55% |
Related stock research
Other Communication Services stocks
Frequently asked questions
Is NetEase Inc overvalued or undervalued?
Bullrun's valuation model currently marks NetEase Inc as 3.8% undervalued.
What is NetEase Inc's market cap?
NetEase Inc's market capitalization is USD 79.54B.
What is NetEase Inc's P/E ratio?
NetEase Inc's price-to-earnings (P/E) ratio is 17.2.
Does NetEase Inc pay a dividend?
NetEase Inc has a dividend yield of 2.3%.
What does NetEase Inc do?
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. It develops and operates mobile and PC games; and offers games licensed from other developers. The company also provides live streaming service, and other related or ancillary value-added services related to games, such as the sale of game-themed merchandise.