NetEase, Inc. (NTES)

NetEase Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	106,748	103,468	96,496	87,606	73,667	59,241
Revenue Growth (YoY)	8.00%	7.23%	10.15%	18.92%	24.35%	15.75%
Cost of Revenue	39,899	40,405	43,730	40,635	34,684	27,686
Gross Profit	66,850	63,063	52,766	46,971	38,983	31,555
Selling, General & Admin	20,351	18,869	18,099	16,478	14,076	9,351
Research & Development	17,457	16,485	15,039	14,076	10,369	8,413
Operating Expenses	37,807	35,354	33,138	30,554	24,445	17,765
Operating Income	29,042	27,709	19,629	16,417	14,538	13,791
Interest Expense	-884.1	-884.1	-650.2	-	-	-
Interest & Investment Income	6,587	6,311	2,854	4,467	3,209	2,128
Currency Exchange Gain (Loss)	-1,436	-133	1,571	-490.48	-3,112	25.17
Other Non Operating Income (Expenses)	954.37	1,054	846.82	710.44	737.17	439.42
EBT Excluding Unusual Items	34,264	34,057	24,250	21,104	15,372	16,383
Pretax Income	34,264	34,057	24,250	21,104	15,372	16,383
Income Tax Expense	5,146	4,700	5,032	4,128	3,042	2,915
Earnings From Continuing Operations	29,118	29,357	19,218	16,976	12,330	13,469
Earnings From Discontinued Operations	-	-	624.86	-	-	7,963
Net Income to Company	29,118	29,357	19,843	16,976	12,330	21,431
Minority Interest in Earnings	-306.32	59.33	494.31	-119.35	-267.48	-193.61
Net Income	28,812	29,417	20,338	16,857	12,063	21,238
Net Income to Common	28,812	29,417	20,338	16,857	12,063	21,238
Net Income Growth	12.33%	44.64%	20.65%	39.74%	-43.20%	245.19%
Shares Outstanding (Basic)	3,214	3,216	3,263	3,326	3,305	3,220
Shares Outstanding (Diluted)	3,249	3,252	3,296	3,367	3,350	3,250
Shares Change (YoY)	-0.56%	-1.33%	-2.12%	0.53%	3.07%	-0.14%
EPS (Basic)	8.96	9.15	6.23	5.07	3.65	6.59
EPS (Diluted)	8.87	9.05	6.17	5.01	3.60	6.53
EPS Growth	13.05%	46.69%	23.15%	39.17%	-44.87%	244.98%
Free Cash Flow	36,029	33,030	25,609	23,325	23,833	16,007
Free Cash Flow Per Share	11.09	10.16	7.77	6.93	7.11	4.93
Dividend Per Share	3.553	3.637	1.913	1.487	1.024	1.919
Dividend Growth	45.89%	90.11%	28.71%	45.21%	-46.65%	294.09%
Gross Margin	62.62%	60.95%	54.68%	53.62%	52.92%	53.27%
Operating Margin	27.21%	26.78%	20.34%	18.74%	19.74%	23.28%
Profit Margin	26.99%	28.43%	21.08%	19.24%	16.37%	35.85%
Free Cash Flow Margin	33.75%	31.92%	26.54%	26.62%	32.35%	27.02%
EBITDA	31,554	30,764	22,487	19,693	17,996	16,404
EBITDA Margin	29.56%	29.73%	23.30%	22.48%	24.43%	27.69%
D&A For EBITDA	2,512	3,055	2,858	3,276	3,458	2,614
EBIT	29,042	27,709	19,629	16,417	14,538	13,791
EBIT Margin	27.21%	26.78%	20.34%	18.74%	19.74%	23.28%
Effective Tax Rate	15.02%	13.80%	20.75%	19.56%	19.79%	17.79%
Advertising Expenses	-	-	-	-	3,782	1,679

Source: S&P Capital IQ. Standard template. Financial Sources.