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NetEase, Inc. (NTES)
NASDAQ: NTES · Real-Time Price · USD
129.45
+2.89 (2.28%)
Nov 6, 2026, 4:00 PM EST - Market closed

NetEase Cash Flow Statement

Millions CNY. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Net Income
6,98110,6746,2428,6168,60110,3018,7666,5386,7597,6346,5827,8378,2436,7553,9536,6995,2914,3945,6943,182
Depreciation & Amortization
439.44430.58720.37617.87428.43480.76697.45520.57631.96567.92659.77651.86661.361,082769.14713.85609.04766.18836.04805.49
Loss (Gain) From Sale of Assets
-13.98-0.57-20.060.4-30.9220.29-3.64-2.92-0.332.133.392.650.25-0.611.170.530.481.4548.784.01
Loss (Gain) From Sale of Investments
2,9395.751,610-666.09-268.5-659.36540.45-513.06-66.56-314.14147.25-177.56-143.43-370.4107.27-1,157858.361,462-1,0951,036
Loss (Gain) on Equity Investments
96.65442.58153.651,38913.48-18.67-19.44-28.4739.2164.27-88.81-160.04-129.29-95.81-54.75-159.13-134.57-911.5-448.05-730.36
Stock-Based Compensation
781.66616.18847.19902.2946.4951.87931.44978.141,079894.3812.99819.55787.86822.41876.56787764.45746.151,003688.23
Provision & Write-off of Bad Debts
1.316.7217.48180.09153.1816.7712.0336.029.2811.69.522.398.5420.726.6244.1310.97-0.3112.93212.01
Other Operating Activities
1,3681,348847.38-388.07-531.97545.43-986.41,930-1,420635.961,12630.5-1,884919.391,025-1,715-1,254335-115.23292.36
Change in Accounts Receivable
726.76-1,189594.56-194.82953.3-1,089517.85146.761,410-1,35953.09-1,178770.55-1,116224.235.7982.28212.08-97.06-1,178
Change in Inventory
34.05143.1-51.88-45.58-73.9453.7742.14-39.2929.5591.3825.0584.9769.41117.33-60.7-88.317.79103.5973.59-154.07
Change in Accounts Payable
-105.34134.45-59.2316.04119.64-148.08218.696.32-126.86-718.44150.87-115.79-612.94576.02-84.4348.45-92.37-89.21172.7
Change in Unearned Revenue
-2,5111,3841,0482,579-718.722,526-209.631,928-1,2701,574-847.561,561-41.2489.99-1,3971,580279.67-78.2-1,1632,155
Change in Income Taxes
-2,0391,895-436.27517.35-764.371,796154.65224.02-1,4631,272-500.17515.09-992.89733.72-928.07475.25-538.2373.45528.73-434.89
Change in Other Net Operating Assets
1,275-2,1583,310-575.812,035-2,6712,350-1,149919.87-1,6103,807-316.13444.09-2,7443,911353.691,220-2,4293,179243.13
Operating Cash Flow
9,97313,73314,82312,94810,86212,10713,01210,5766,5329,55711,8089,8447,6786,0019,0097,4866,6314,5838,3696,293
Operating Cash Flow Growth (YoY)
-8.18%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%

Investing Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Capital Expenditures
-18.79-312.15-137.82-283.65-189.84-454.07-311.98-379.52-168.88-415.02-484.93-643.14-520.54-652.94-348.82-557.03-445.05-749.36-442.52-407.69
Sale of Property, Plant & Equipment
14.541.6721.791.2621.51.349.31.070.663.510.413.14.292.52.263.3123.3412.5756.5211.03
Sale (Purchase) of Intangibles
-61.55-290.02-183.99-190.98-313.35-298.77-120.39-222.25-399.53-188.82-121.8-742.52-283.32-826.68-161.99-152.28-85.12-143.84-297.14-218.17
Investment in Securities
-34,534-7,230695-24,2234,402-12,08921,1255.75-14,11113,495-10,0281,04812,420-15,7944,4341,725-615.44-9,988-14,78521,842
Other Investing Activities
-58.8965.91-7.6675.34-27.37-0.68-73.55-125.91-172.54-34.63-90.64-181.26-31.19-120.84-61.55-31.78-60.9-169.55-99.69-69.43
Investing Cash Flow
-34,658-7,764387.33-24,6213,893-12,84120,629-720.86-14,85112,860-10,725-515.9111,590-17,3923,864987.02-1,183-11,038-15,56721,158

Financing Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Short-Term Debt Issued
420.941,182-536.892,018--------2,638--2,7213,403--
Long-Term Debt Issued
1,3266,135-1,4821,2312,748-5,3961,0696,998-7,6072,1721,280-70.691,6421,915-612.89
Total Debt Issued
1,7477,31736.32,0183,2492,7484575,3961,0696,9982,5117,6072,1723,918285.6470.694,3635,3182,277612.89
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
Total Debt Repaid
--2,621-975-5,880-1,805-5,190606.09-7,879-12,767-1,3575,485-11,752-18,204-40.42-1,465-3,695-32.27--886.8-8,203
Net Debt Issued (Repaid)
1,7474,696-938.71-3,8611,444-2,4431,063-2,483-11,6985,6427,996-4,145-16,0333,877-1,180-3,6254,3315,3181,390-7,590
Repurchase of Common Stock
-1,796-1,314-15.4--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
Common Dividends Paid
-3,139-5,156-2,575-2,584-3,082-5,585-1,983-1,973-2,265-4,945-2,259-2,423-2,119-1,212-2,019-1,618-1,404-1,683-940.54-1,028
Other Financing Activities
4.87-23.420.8253.342.442.5251.61-8.3950.5742.2128.0111.5722.2324.3523.6214.3133.2-102.04588.8734.8
Financing Cash Flow
-3,183-1,798-3,529-6,392-1,951-8,288-2,463-8,459-15,919-495.065,139-6,854-20,325572.43-6,183-7,185840.872,289-1,074-14,894

Net Cash Flow

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Foreign Exchange Rate Adjustments
-187.75-340.83-175.9-117.88-31.75-56.93113.79-68.148.23-43.14-174.284.2-47.8815.553.243.4774.9-21.2-80.6714.44
Net Cash Flow
-28,0563,83011,506-18,18212,772-9,07931,2921,328-24,23021,8796,0492,479-1,105-10,8046,7441,2926,364-4,187-8,35312,570

Free Cash Flow

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Free Cash Flow
9,95413,42114,68612,66410,67211,65312,70010,1966,3639,14211,3239,2017,1585,3488,6606,9296,1863,8337,9265,885
Free Cash Flow Growth (YoY)
-6.73%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%
Free Cash Flow Margin
33.06%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%
Free Cash Flow Per Share
3.094.164.553.933.323.633.963.161.962.813.482.832.201.642.652.101.871.162.381.75
Levered Free Cash Flow
6,3137,58614,9033,7617,6916,9259,2246,4464,9485,1797,1504,6774,7912,0055,8927,0284,3761,2587,3912,934
Unlevered Free Cash Flow
6,3137,58615,3203,7617,6916,9259,5986,4464,9485,1797,7034,6774,7912,0056,2987,0284,3761,2587,5112,934

Additional Metrics

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Cash Interest Paid
25.3778.3318.31207.8864.3797.4224.34165.88152.94146.4671.85105.67326.65275.71264.23193.3393.0837.7442.8852.77
Cash Income Tax Paid
2,4871,4651,0691,9672,1851,207603.51554.872,8481,1831,0311,1651,6251,075971.221,5511,0551,515858.34898.11
Change in Working Capital
-2,619210.034,4062,2971,551468.43,0741,117-499.99-38.822,556817.69134.17-3,1322,3262,2721,110-2,2112,432803.32
SEC Filings: 10-K · 10-Q