NetEase Cloud Music Inc. (HKG:9899)

Hong Kong · Delayed Price · Currency is HKD

114.40

-1.90 (-1.63%)

Jul 24, 2026, 4:08 PM HKT

NetEase Cloud Music Financials Overview

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	7,759	7,759	7,950	7,867	8,992	6,998
Revenue Growth	0.68%	-2.40%	1.06%	-12.51%	28.50%	42.93%
Gross Profit	2,770	2,770	2,682	2,103	1,293	142.67
Operating Income	1,611	1,611	1,138	332.22	-378.69	-1,351
Net Income	2,748	2,748	1,562	734.18	-221.49	-2,056
Earnings Per Share	12.87	12.87	7.40	3.47	-1.06	-15.92
EPS Growth	3.53%	73.92%	113.26%	-	-	-

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	12,175	12,175	10,222	9,505	9,108	6,622
Total Debt	6.2	6.2	6.47	6.36	8.4	10.51
Net Cash (Debt)	12,169	12,169	10,216	9,499	9,100	6,611
Net Cash Growth	10.36%	19.12%	7.55%	4.38%	37.64%	-
Net Cash Per Share	56.99	56.99	48.40	44.84	43.54	51.19

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	1,618	1,618	1,775	189.05	1,843	-908.41
Capital Expenditures	-11.2	-11.2	-3.71	-5.55	-26.09	-39.5
Free Cash Flow	1,607	1,607	1,771	183.51	1,817	-947.91
Free Cash Flow Growth	-6.21%	-9.26%	865.03%	-89.90%	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	35.69%	35.69%	33.73%	26.73%	14.38%	2.04%
Operating Margin	20.77%	20.77%	14.32%	4.22%	-4.21%	-19.30%
Pretax Margin	26.65%	26.65%	19.75%	9.76%	-2.27%	-29.32%
Profit Margin	35.42%	35.42%	19.64%	9.33%	-2.46%	-29.38%
FCF Margin	20.71%	20.71%	22.27%	2.33%	20.20%	-13.55%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul '26 Jul 25, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	7.99	13.23	14.87	23.78	-	-
Forward PE	9.75	14.53	15.25	18.49	-	-
P/FCF Ratio	13.46	22.63	13.11	95.13	8.00	-
PS Ratio	2.79	4.69	2.92	2.22	1.62	3.80