NetEase, Inc. (NTES)
NASDAQ: NTES · Real-Time Price · USD
127.25
+2.50 (2.00%)
At close: Aug 19, 2026, 4:00 PM EDT
128.09
+0.84 (0.66%)
After-hours: Aug 19, 2026, 7:59 PM EDT
NetEase Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 |
Net Income | 10,674 | 6,242 | 8,616 | 8,601 | 10,301 | 8,766 | 6,538 | 6,759 | 7,634 | 6,582 | 7,837 | 8,243 | 6,755 | 3,953 | 6,699 | 5,291 | 4,394 | 5,694 | 3,182 | 3,542 |
Depreciation & Amortization | 430.58 | 720.37 | 617.87 | 428.43 | 480.76 | 697.45 | 520.57 | 631.96 | 567.92 | 659.77 | 651.86 | 661.36 | 1,082 | 769.14 | 713.85 | 609.04 | 766.18 | 836.04 | 805.49 | 814.37 |
Loss (Gain) From Sale of Assets | -0.57 | -20.06 | 0.4 | -30.92 | 20.29 | -3.64 | -2.92 | -0.33 | 2.13 | 3.39 | 2.65 | 0.25 | -0.61 | 1.17 | 0.53 | 0.48 | 1.45 | 48.78 | 4.01 | 1.42 |
Loss (Gain) From Sale of Investments | 5.75 | 1,610 | -666.09 | -268.5 | -659.36 | 540.45 | -513.06 | -66.56 | -314.14 | 147.25 | -177.56 | -143.43 | -370.4 | 107.27 | -1,157 | 858.36 | 1,462 | -1,095 | 1,036 | -536.1 |
Loss (Gain) on Equity Investments | 442.58 | 153.65 | 1,389 | 13.48 | -18.67 | -19.44 | -28.47 | 39.2 | 164.27 | -88.81 | -160.04 | -129.29 | -95.81 | -54.75 | -159.13 | -134.57 | -911.5 | -448.05 | -730.36 | -342.76 |
Stock-Based Compensation | 616.18 | 847.19 | 902.2 | 946.4 | 951.87 | 931.44 | 978.14 | 1,079 | 894.3 | 812.99 | 819.55 | 787.86 | 822.41 | 876.56 | 787 | 764.45 | 746.15 | 1,003 | 688.23 | 700.11 |
Provision & Write-off of Bad Debts | 6.72 | 17.48 | 180.09 | 153.18 | 16.77 | 12.03 | 36.02 | 9.28 | 11.6 | 9.5 | 22.39 | 8.54 | 20.72 | 6.62 | 44.13 | 10.97 | -0.31 | 12.93 | 212.01 | 27.38 |
Other Operating Activities | 1,348 | 847.38 | -388.07 | -531.97 | 545.43 | -986.4 | 1,930 | -1,420 | 635.96 | 1,126 | 30.5 | -1,884 | 919.39 | 1,025 | -1,715 | -1,254 | 335 | -115.23 | 292.36 | 710.21 |
Change in Accounts Receivable | -1,189 | 594.56 | -194.82 | 953.3 | -1,089 | 517.85 | 146.76 | 1,410 | -1,359 | 53.09 | -1,178 | 770.55 | -1,116 | 224.2 | 35.79 | 82.28 | 212.08 | -97.06 | -1,178 | 573.11 |
Change in Inventory | 143.1 | -51.88 | -45.58 | -73.94 | 53.77 | 42.14 | -39.29 | 29.55 | 91.38 | 25.05 | 84.97 | 69.41 | 117.33 | -60.7 | -88.3 | 17.79 | 103.59 | 73.59 | -154.07 | -9.61 |
Change in Accounts Payable | 134.45 | -59.23 | 16.04 | 119.64 | -148.08 | 218.69 | 6.32 | -126.86 | -7 | 18.44 | 150.87 | -115.79 | -612.94 | 576.02 | -84.43 | 48.45 | -92.37 | -89.21 | 172.7 | -178.1 |
Change in Unearned Revenue | 1,384 | 1,048 | 2,579 | -718.72 | 2,526 | -209.63 | 1,928 | -1,270 | 1,574 | -847.56 | 1,561 | -41.2 | 489.99 | -1,397 | 1,580 | 279.67 | -78.2 | -1,163 | 2,155 | -381.45 |
Change in Income Taxes | 1,895 | -436.27 | 517.35 | -764.37 | 1,796 | 154.65 | 224.02 | -1,463 | 1,272 | -500.17 | 515.09 | -992.89 | 733.72 | -928.07 | 475.25 | -538.23 | 73.45 | 528.73 | -434.89 | -1,397 |
Change in Other Net Operating Assets | -2,158 | 3,310 | -575.81 | 2,035 | -2,671 | 2,350 | -1,149 | 919.87 | -1,610 | 3,807 | -316.13 | 444.09 | -2,744 | 3,911 | 353.69 | 1,220 | -2,429 | 3,179 | 243.13 | 1,200 |
Operating Cash Flow | 13,733 | 14,823 | 12,948 | 10,862 | 12,107 | 13,012 | 10,576 | 6,532 | 9,557 | 11,808 | 9,844 | 7,678 | 6,001 | 9,009 | 7,486 | 6,631 | 4,583 | 8,369 | 6,293 | 4,723 |
Operating Cash Flow Growth (YoY) | 13.43% | 13.92% | 22.43% | 66.29% | 26.68% | 10.20% | 7.43% | -14.93% | 59.27% | 31.07% | 31.49% | 15.79% | 30.95% | 7.66% | 18.97% | 40.41% | -17.32% | 1.88% | 16.51% | -1.04% |
Investing Activities
Fiscal Quarter | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 |
Capital Expenditures | -312.15 | -137.82 | -283.65 | -189.84 | -454.07 | -311.98 | -379.52 | -168.88 | -415.02 | -484.93 | -643.14 | -520.54 | -652.94 | -348.82 | -557.03 | -445.05 | -749.36 | -442.52 | -407.69 | -421.87 |
Sale of Property, Plant & Equipment | 1.67 | 21.79 | 1.26 | 21.5 | 1.34 | 9.3 | 1.07 | 0.66 | 3.51 | 0.41 | 3.1 | 4.29 | 2.5 | 2.26 | 3.31 | 23.34 | 12.57 | 56.52 | 11.03 | 2.46 |
Sale (Purchase) of Intangibles | -290.02 | -183.99 | -190.98 | -313.35 | -298.77 | -120.39 | -222.25 | -399.53 | -188.82 | -121.8 | -742.52 | -283.32 | -826.68 | -161.99 | -152.28 | -85.12 | -143.84 | -297.14 | -218.17 | -566.74 |
Investment in Securities | -7,230 | 695 | -24,223 | 4,402 | -12,089 | 21,125 | 5.75 | -14,111 | 13,495 | -10,028 | 1,048 | 12,420 | -15,794 | 4,434 | 1,725 | -615.44 | -9,988 | -14,785 | 21,842 | -4,512 |
Other Investing Activities | 65.91 | -7.66 | 75.34 | -27.37 | -0.68 | -73.55 | -125.91 | -172.54 | -34.63 | -90.64 | -181.26 | -31.19 | -120.84 | -61.55 | -31.78 | -60.9 | -169.55 | -99.69 | -69.43 | -44.88 |
Investing Cash Flow | -7,764 | 387.33 | -24,621 | 3,893 | -12,841 | 20,629 | -720.86 | -14,851 | 12,860 | -10,725 | -515.91 | 11,590 | -17,392 | 3,864 | 987.02 | -1,183 | -11,038 | -15,567 | 21,158 | -5,543 |
Financing Activities
Fiscal Quarter | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 |
Short-Term Debt Issued | 1,182 | - | 536.89 | 2,018 | - | - | - | - | - | - | - | - | 2,638 | - | - | 2,721 | 3,403 | - | - | 4,979 |
Long-Term Debt Issued | 6,135 | - | 1,482 | 1,231 | 2,748 | - | 5,396 | 1,069 | 6,998 | - | 7,607 | 2,172 | 1,280 | - | 70.69 | 1,642 | 1,915 | - | 612.89 | 1,321 |
Total Debt Issued | 7,317 | 36.3 | 2,018 | 3,249 | 2,748 | 457 | 5,396 | 1,069 | 6,998 | 2,511 | 7,607 | 2,172 | 3,918 | 285.64 | 70.69 | 4,363 | 5,318 | 2,277 | 612.89 | 6,299 |
Short-Term Debt Repaid | - | - | - | - | -2,254 | - | -4,778 | -2,085 | -399.73 | - | -7,502 | -14,971 | - | - | -3,645 | - | - | - | -7,968 | - |
Long-Term Debt Repaid | -2,621 | - | -5,880 | -1,805 | -2,936 | - | -3,101 | -10,682 | -957 | - | -4,251 | -3,234 | -40.42 | - | -50.21 | -32.27 | - | - | -235.28 | -582.33 |
Total Debt Repaid | -2,621 | -975 | -5,880 | -1,805 | -5,190 | 606.09 | -7,879 | -12,767 | -1,357 | 5,485 | -11,752 | -18,204 | -40.42 | -1,465 | -3,695 | -32.27 | - | -886.8 | -8,203 | -582.33 |
Net Debt Issued (Repaid) | 4,696 | -938.71 | -3,861 | 1,444 | -2,443 | 1,063 | -2,483 | -11,698 | 5,642 | 7,996 | -4,145 | -16,033 | 3,877 | -1,180 | -3,625 | 4,331 | 5,318 | 1,390 | -7,590 | 5,717 |
Repurchase of Common Stock | -1,314 | -15.4 | - | -355.56 | -303.6 | -1,595 | -3,994 | -2,007 | -1,234 | -625.83 | -296.5 | -2,195 | -2,117 | -3,008 | -1,957 | -2,120 | -1,244 | -2,112 | -6,311 | -2,469 |
Common Dividends Paid | -5,156 | -2,575 | -2,584 | -3,082 | -5,585 | -1,983 | -1,973 | -2,265 | -4,945 | -2,259 | -2,423 | -2,119 | -1,212 | -2,019 | -1,618 | -1,404 | -1,683 | -940.54 | -1,028 | -1,279 |
Other Financing Activities | -23.42 | 0.82 | 53.3 | 42.4 | 42.52 | 51.61 | -8.39 | 50.57 | 42.21 | 28.01 | 11.57 | 22.23 | 24.35 | 23.62 | 14.31 | 33.2 | -102.04 | 588.87 | 34.8 | 8.18 |
Financing Cash Flow | -1,798 | -3,529 | -6,392 | -1,951 | -8,288 | -2,463 | -8,459 | -15,919 | -495.06 | 5,139 | -6,854 | -20,325 | 572.43 | -6,183 | -7,185 | 840.87 | 2,289 | -1,074 | -14,894 | 1,977 |
Net Cash Flow
Fiscal Quarter | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 |
Foreign Exchange Rate Adjustments | -340.83 | -175.9 | -117.88 | -31.75 | -56.93 | 113.79 | -68.14 | 8.23 | -43.14 | -174.28 | 4.2 | -47.88 | 15.5 | 53.24 | 3.47 | 74.9 | -21.2 | -80.67 | 14.44 | -25.11 |
Net Cash Flow | 3,830 | 11,506 | -18,182 | 12,772 | -9,079 | 31,292 | 1,328 | -24,230 | 21,879 | 6,049 | 2,479 | -1,105 | -10,804 | 6,744 | 1,292 | 6,364 | -4,187 | -8,353 | 12,570 | 1,132 |
Free Cash Flow
Fiscal Quarter | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 |
Free Cash Flow | 13,421 | 14,686 | 12,664 | 10,672 | 11,653 | 12,700 | 10,196 | 6,363 | 9,142 | 11,323 | 9,201 | 7,158 | 5,348 | 8,660 | 6,929 | 6,186 | 3,833 | 7,926 | 5,885 | 4,301 |
Free Cash Flow Growth (YoY) | 15.18% | 15.63% | 24.21% | 67.72% | 27.46% | 12.16% | 10.82% | -11.11% | 70.95% | 30.75% | 32.78% | 15.71% | 39.51% | 9.26% | 17.75% | 43.83% | -26.47% | 0.19% | 16.53% | -5.17% |
Free Cash Flow Margin | 43.87% | 53.31% | 44.66% | 38.26% | 40.42% | 47.48% | 38.90% | 24.97% | 34.05% | 41.72% | 33.74% | 29.81% | 21.35% | 34.16% | 28.37% | 26.71% | 16.27% | 32.52% | 26.52% | 20.95% |
Free Cash Flow Per Share | 4.16 | 4.55 | 3.93 | 3.32 | 3.63 | 3.96 | 3.16 | 1.96 | 2.81 | 3.48 | 2.83 | 2.20 | 1.64 | 2.65 | 2.10 | 1.87 | 1.16 | 2.38 | 1.75 | 1.27 |
Levered Free Cash Flow | 7,586 | 14,903 | 3,761 | 7,691 | 6,925 | 9,224 | 6,446 | 4,948 | 5,179 | 7,150 | 4,677 | 4,791 | 2,005 | 5,892 | 7,028 | 4,376 | 1,258 | 7,391 | 2,934 | 2,150 |
Unlevered Free Cash Flow | 7,586 | 15,320 | 3,761 | 7,691 | 6,925 | 9,598 | 6,446 | 4,948 | 5,179 | 7,703 | 4,677 | 4,791 | 2,005 | 6,298 | 7,028 | 4,376 | 1,258 | 7,511 | 2,934 | 2,150 |
Additional Metrics
Fiscal Quarter | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 |
Cash Interest Paid | 78.33 | 18.31 | 207.88 | 64.37 | 97.42 | 24.34 | 165.88 | 152.94 | 146.46 | 71.85 | 105.67 | 326.65 | 275.71 | 264.23 | 193.33 | 93.08 | 37.74 | 42.88 | 52.77 | 48.08 |
Cash Income Tax Paid | 1,465 | 1,069 | 1,967 | 2,185 | 1,207 | 603.51 | 554.87 | 2,848 | 1,183 | 1,031 | 1,165 | 1,625 | 1,075 | 971.22 | 1,551 | 1,055 | 1,515 | 858.34 | 898.11 | 1,241 |
Change in Working Capital | 210.03 | 4,406 | 2,297 | 1,551 | 468.4 | 3,074 | 1,117 | -499.99 | -38.82 | 2,556 | 817.69 | 134.17 | -3,132 | 2,326 | 2,272 | 1,110 | -2,211 | 2,432 | 803.32 | -193.59 |