NetEase (NTES) EBITDA Margin (2009 - 2026)
NetEase's EBITDA Margin was 41.61% in the quarter ended Jun 30, 2026, up 7.59 percentage points from 34.02% a year earlier but down 1.17 percentage points from the prior quarter.
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NetEase (NTES) EBITDA Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, NetEase's EBITDA Margin was 37.22% through Jun 30, 2026, up 3.87 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 33.81%, up 3.42 percentage points from the prior year.
- EBITDA Margin has now increased for four consecutive years, with a five-year change of +9.38 percentage points (years ended Dec 2020 to Dec 2025).
- In earlier years, EBITDA Margin was 30.39% in the year ended Dec 31, 2024 (+0.66 pp), 29.73% in the year ended Dec 31, 2023 (+6.43 pp), 23.30% in the year ended Dec 31, 2022 (+0.82 pp) and 22.48% in the year ended Dec 31, 2021 (-1.95 pp).
- Quarterly EBITDA Margin has moved between 20.52% (the quarter ended Dec 31, 2022) and 42.78% (the quarter ended Mar 31, 2026) over five years.
- Compared with a year earlier, EBITDA Margin has increased for seven straight quarters, with an average year-over-year change of +3.67 percentage points over the last eight quarters.
- The best year-over-year quarter for EBITDA Margin over five years was the quarter ended Sep 30, 2023 (a gain of 7.77 percentage points); the worst was the quarter ended Mar 31, 2024 (a drop of 2.65 percentage points).
- Per Business Quant data, NTES's EBITDA Margin in the three quarters before the quarter ended Jun 30, 2026 was 42.78% (quarter ended Mar 31, 2026), 32.81% (quarter ended Dec 31, 2025) and 30.44% (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,624.96 Bn | 3,359.86 Bn | 76.16 Bn | 38.37% |
| 2 | Meta Platforms | 1,640.16 Bn | 1,304.68 Bn | 51.23 Bn | 31.18% |
| 3 | Netflix | 255.21 Bn | 216.51 Bn | 6.80 Bn | 68.36% |
| 4 | Alibaba Group Holding | 219.23 Bn | 41.30 Bn | 15.16 Bn | - |
| 5 | Shopify | 189.29 Bn | 174.44 Bn | 1.78 Bn | 15.37% |
| 6 | Uber Technologies | 142.08 Bn | 113.28 Bn | 6.42 Bn | 11.28% |
| 7 | AppLovin | 135.54 Bn | 124.07 Bn | 1.94 Bn | 79.79% |
| 8 | Spotify Technology | 126.14 Bn | 83.06 Bn | 1.89 Bn | 14.77% |
| 9 | Booking Holdings | 119.69 Bn | 53.43 Bn | - | 40.49% |
| 10 | NetEase | 78.00 Bn | 36.89 Bn | 3.13 Bn | 41.61% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 41.61% |
| Mar 31, 2026 | 42.78% |
| Dec 31, 2025 | 32.81% |
| Sep 30, 2025 | 30.44% |
| Jun 30, 2025 | 34.02% |
| Mar 31, 2025 | 37.89% |
| Dec 31, 2024 | 31.85% |
| Sep 30, 2024 | 29.25% |
| Jun 30, 2024 | 29.92% |
| Mar 31, 2024 | 30.50% |
| Dec 31, 2023 | 27.74% |
| Sep 30, 2023 | 30.11% |
| Jun 30, 2023 | 28.00% |
| Mar 31, 2023 | 33.15% |
| Dec 31, 2022 | 20.52% |
| Sep 30, 2022 | 22.33% |
| Jun 30, 2022 | 23.99% |
| Mar 31, 2022 | 26.63% |
| Dec 31, 2021 | 22.34% |
| Sep 30, 2021 | 20.64% |
API Access
NetEase EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=NTES&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "NTES", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=NTES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();