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NetEase, Inc. (HKG:9999)
Hong Kong flag Hong Kong · Delayed Price · Currency is HKD
202.00
+8.60 (4.45%)
Aug 21, 2026, 4:08 PM HKT

NetEase Cash Flow Statement

Millions CNY. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
32,51233,76029,69829,41720,33816,857
Depreciation & Amortization
2,2082,2472,4183,0552,8583,276
Loss (Gain) From Sale of Assets
-34.21-30.29-4.765.683.6254.05
Loss (Gain) From Sale of Investments
3,88815.71-353.3-544.151,271-1,198
Loss (Gain) on Equity Investments
2,0821,538155.57-473.95-1,260-1,573
Stock-Based Compensation
3,1473,6483,8833,2433,1743,041
Provision & Write-off of Bad Debts
205.59367.5168.9361.1561.39265.93
Other Operating Activities
3,175472.77160.3192.04-1,6091,016
Change in Accounts Receivable
-62.34264.07716.38-1,470554.34-1,187
Change in Inventory
79.68-117.63123.78296.76-27.61-343.59
Change in Accounts Payable
-14.08-71.6291.14-559.42447.67-155.26
Change in Unearned Revenue
2,5015,4352,0221,162385.41,351
Change in Income Taxes
-62.231,113187.79-244.26-917.61255.06
Change in Other Net Operating Assets
1,8512,099510.341,1913,0553,267
Operating Cash Flow
51,47750,74039,67735,33127,70924,927
Operating Cash Flow Growth
10.57%27.88%12.30%27.51%11.16%0.15%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-752.4-1,065-1,275-2,302-2,100-1,602
Sale of Property, Plant & Equipment
39.2645.8914.5310.341.4771.52
Sale (Purchase) of Intangibles
-726.54-987.09-930.99-1,974-543.22-1,508
Investment in Securities
-65,291-31,21420,515-12,354-4,444-3,771
Other Investing Activities
74.739.64-406.63-423.93-323.78-268.65
Investing Cash Flow
-66,656-33,18117,916-17,043-7,370-7,078

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Short-Term Debt Issued
-243.64----
Long-Term Debt Issued
-5,55313,92013,5696,3934,448
Total Debt Issued
10,8825,79613,92013,5696,3934,448
Short-Term Debt Repaid
---6,657-13,655-1,274-442.21
Long-Term Debt Repaid
--11,595-14,739-8,219-273.64-2,297
Total Debt Repaid
-9,239-11,595-21,396-21,874-1,548-2,739
Net Debt Issued (Repaid)
1,643-5,799-7,476-8,3054,8451,708
Repurchase of Common Stock
-3,090-639.34-8,830-5,234-8,328-12,911
Common Dividends Paid
-13,454-13,826-11,165-8,014-6,724-3,508
Other Financing Activities
0.35103.81136.0186.16-30.922,125
Financing Cash Flow
-14,900-20,160-27,336-21,467-10,238-12,586

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Foreign Exchange Rate Adjustments
-822.36-382.4510.75-202.46110.4-55.35
Net Cash Flow
-30,901-2,98430,268-3,38210,2125,208

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
50,72549,67438,40133,03025,60923,325
Free Cash Flow Growth
12.17%29.36%16.26%28.98%9.79%-2.13%
Free Cash Flow Margin
43.50%44.11%36.47%31.92%26.54%26.63%
Free Cash Flow Per Share
15.7315.4411.8910.167.776.93
Levered Free Cash Flow
32,77133,48825,79619,17518,96016,174
Unlevered Free Cash Flow
32,98033,69726,17019,17518,96016,174

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
329.89387.98489.62779.87588.38187.63
Cash Income Tax Paid
6,9886,4275,1904,8965,0923,547
Change in Working Capital
4,2938,7213,652375.883,4973,188