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NetEase stock: key metrics
NTESNetEase had an operating margin of 31.8% and a return on invested capital (ROIC) of 18.3% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2006 | 82.4% | 59.1% | 57.4% |
| 2007 | 81.2% | 54.5% | 57.1% |
| 2008 | 81.9% | 62.1% | 51.8% |
| 2009 | 74.1% | 53,858.5% | 49.3% |
| 2010 | 50.6% | 46.2% | 40.6% |
| 2011 | 67.5% | 45.6% | 44.4% |
| 2012 | 68.6% | 45.3% | 44.4% |
| 2013 | 73.0% | 47.3% | 48.3% |
| 2014 | 72.2% | 40.7% | 40.6% |
| 2015 | 58.8% | 31.9% | 29.5% |
| 2016 | 56.7% | 33.1% | 30.4% |
| 2017 | 58.3% | 29.2% | 24.1% |
| 2018 | 55.5% | 19.5% | no data |
| 2019 | 53.3% | 23.3% | no data |
| 2020 | 52.9% | 19.7% | 16.4% |
| 2021 | 53.6% | 18.7% | 19.2% |
| 2022 | 54.7% | 20.3% | 21.1% |
| 2023 | 60.9% | 26.8% | 28.4% |
| 2024 | 62.5% | 28.1% | 28.2% |
| 2025 | 64.3% | 31.8% | 30.0% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2006 | 42.8% | 46.6% | 28.4% |
| 2007 | 37.2% | 59.6% | 27.0% |
| 2008 | 28.9% | 220.6% | 25.2% |
| 2009 | 24.9% | no data | 21.0% |
| 2010 | 30.1% | 65.0% | 25.4% |
| 2011 | 24.6% | 90.2% | 20.9% |
| 2012 | 23.2% | 21.6% | 18.9% |
| 2013 | 22.0% | 21.0% | 18.1% |
| 2014 | 20.2% | 17.8% | 15.7% |
| 2015 | 23.0% | 138.5% | 16.4% |
| 2016 | 30.4% | 181.4% | 20.0% |
| 2017 | 23.4% | 138.4% | 15.1% |
| 2018 | no data | 77.2% | no data |
| 2019 | no data | 14.5% | no data |
| 2020 | 14.7% | 81.9% | 8.5% |
| 2021 | 17.7% | 59.9% | 11.0% |
| 2022 | 19.4% | 71.8% | 11.8% |
| 2023 | 23.7% | 114.5% | 15.8% |
| 2024 | 21.4% | 126.6% | 15.2% |
| 2025 | 21.0% | 18.3% | 15.2% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = CN¥6.6683)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 31 Mar 2019)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.