NetEase Cloud Music Ratios and Metrics

Market cap in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 26, 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
Market Capitalization	33,506	40,464	24,712	19,232	16,423	32,618
Market Cap Growth	23.87%	63.74%	28.49%	17.11%	-49.65%	-
Enterprise Value	19,964	28,382	15,276	9,656	7,377	44,716
Last Close Price	154.60	186.00	114.20	89.75	77.50	157.00
PE Ratio	10.79	13.23	14.87	23.78	-	-
Forward PE	13.32	14.53	15.25	18.49	-	-
PS Ratio	3.88	4.69	2.92	2.22	1.62	3.80
PB Ratio	2.34	2.83	2.28	2.07	1.86	3.60
P/TBV Ratio	2.34	2.83	2.28	2.07	1.86	3.60
P/FCF Ratio	-	-	13.11	95.13	8.00	-
P/OCF Ratio	-	-	13.09	92.34	7.88	-
EV/Sales Ratio	2.31	3.29	1.81	1.11	0.73	5.21
EV/EBITDA Ratio	11.03	15.68	12.45	25.14	-	-
EV/EBIT Ratio	11.13	15.83	12.61	26.38	-	-
EV/FCF Ratio	-	-	8.11	47.76	3.59	-
Debt / Equity Ratio	0	0	0.00	0.00	0.00	0.00
Debt / EBITDA Ratio	0.00	0.00	0.01	0.02	-	-
Debt / FCF Ratio	-	-	0.00	0.04	0.01	-
Net Debt / Equity Ratio	-0.95	-0.95	-1.00	-1.12	-1.16	-0.90
Net Debt / EBITDA Ratio	-7.48	-7.48	-8.86	-27.24	25.55	4.95
Net Debt / FCF Ratio	-	-	-5.77	-51.76	-5.01	6.98
Asset Turnover	0.52	0.52	0.63	0.70	0.89	0.80
Quick Ratio	3.81	3.81	3.48	3.43	3.28	3.88
Current Ratio	4.04	4.04	3.61	3.65	3.48	4.50
Return on Equity (ROE)	23.82%	23.82%	16.81%	9.03%	-2.91%	-198.19%
Return on Assets (ROA)	6.70%	6.70%	5.65%	1.85%	-2.33%	-9.68%
Return on Invested Capital (ROIC)	230.01%	483.78%	-	-	-	-147.48%
Return on Capital Employed (ROCE)	12.40%	12.40%	11.10%	3.90%	-4.80%	-18.20%
Earnings Yield	9.13%	7.56%	6.72%	4.21%	-1.52%	-7.74%
FCF Yield	-	-	7.63%	1.05%	12.51%	-3.57%
Buyback Yield / Dilution	-1.18%	-1.18%	0.36%	-1.36%	-61.80%	-5.98%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.