NetEase
$117.15Change from previous close: −2.87%Absolute change: −$3.46
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | 50,740 | 39,677 | 35,331 | 27,709 | 24,927 |
| Depreciation and amortization | 2,247 | 2,418 | 3,055 | 2,858 | 3,276 |
| Capital expenditure | -1,065 | -1,275 | -2,302 | -2,100 | -1,602 |
| Investing cash flow | -33,181 | 17,916 | -17,043 | -7,370 | -7,078 |
| Financing cash flow | -20,160 | -27,336 | -21,467 | -10,238 | -12,586 |
| Dividends paid | -13,826 | -11,165 | -8,014 | -6,724 | -3,508 |
| Share repurchases | -639 | -8,830 | -5,234 | -8,328 | -12,911 |
| Debt issued | 5,796 | 13,920 | 13,569 | 6,393 | 4,448 |
| Debt repaid | -11,595 | -21,396 | -21,874 | -1,548 | -2,739 |
| Effect of exchange rates | -382 | 10.8 | -202 | 110 | -55.4 |
| Net change in cash | -2,984 | 30,268 | -3,382 | 10,212 | 5,208 |
| Free cash flow | 49,674 | 38,401 | 33,030 | 25,609 | 23,325 |
| Levered free cash flow | 33,488 | 25,796 | 19,175 | 18,960 | 16,174 |