NetEase

NTES · NASDAQ · USD

$117.21−2.82%−$3.40

Close · October 2, 2026

At a glance

Revenue growth: +6.96%; 2025 vs 2024
Net income growth: +13.68%; 2025 vs 2024
Net margin: 30.0%; 2024: 28.2%

Financial data

Amounts in millions of CNY; per-share values in CNY; shares in millions.

Balance sheet · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total assets	221,415	195,992	185,925	172,761	153,644	141,875	112,124	86,968	71,031	58,032
Current assets	180,615	153,325	142,693	131,603	113,120	107,831	85,105	68,716	61,948	49,383
Cash and equivalents	47,168	51,383	21,429	24,889	14,498	9,117	3,246	4,977	2,764	5,439
Short-term investments	117,072	86,289	105,374	92,639	83,123	84,415	68,812	44,682	40,485	31,099
Receivables	7,198	8,158	9,252	6,443	7,064	6,626	4,715	4,533	4,068	4,620
Inventory	689	572	695	994	965	592	651	1,066	5,475	1,578
Net property, plant and equipment	8,746	9,061	8,824	7,230	6,478	5,323	5,085	4,672	3,769	2,420
Goodwill	1,855	1,855	1,855	2,166	595	319	—	—	—	—
Other intangible assets	4,995	5,585	5,960	6,239	6,725	8,304	7,346	5,733	1,414	843
Long-term investments	21,458	23,231	22,833	21,518	24,629	18,341	11,654	5,345	2,785	2,520
Current liabilities	52,369	49,668	53,842	56,829	50,501	46,743	38,243	35,109	23,750	19,176
Accounts payable	643	721	881	1,507	985	1,134	1,212	1,201	2,443	1,396
Long-term debt	—	428	428	3,655	1,275	—	—	—	—	—
Total debt	345	1,012	1,243	4,587	2,342	806	471	—	—	—
Total liabilities	56,311	53,497	57,841	63,888	54,220	48,081	39,083	35,556	23,982	19,569
Total equity (incl. minority)	165,104	142,494	128,084	108,873	99,424	93,794	73,041	51,412	47,050	38,463
Retained earnings	152,212	132,288	113,756	92,353	78,740	65,391	57,609	45,212	43,939	36,489
Minority interest	4,808	3,809	3,798	4,142	4,096	11,667	11,588	6,180	1,318	272