NetEase (NTES) EBITDA Margin (2009 - 2026)
NetEase's EBITDA Margin was 41.47% in the quarter ended Jun 30, 2026, up 7.44 percentage points from 34.02% a year earlier but down 1.31 percentage points from the prior quarter.
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Analysis
NetEase (NTES) EBITDA Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, NetEase's EBITDA Margin was 37.19% through Jun 30, 2026, up 3.83 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 +3.65 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 | 3,890.87 Bn | 3,648.40 Bn | 73.85 Bn | 39.96% |
| 2 | Meta Platforms | 1,637.40 Bn | 1,339.92 Bn | 49.47 Bn | 41.33% |
| 3 | Netflix | 270.40 Bn | 231.70 Bn | 6.80 Bn | 68.36% |
| 4 | Alibaba Group Holding | 231.40 Bn | 53.61 Bn | 15.11 Bn | - |
| 5 | Shopify | 218.48 Bn | 195.66 Bn | 1.71 Bn | 13.82% |
| 6 | Uber Technologies | 136.01 Bn | 107.99 Bn | 6.38 Bn | 14.69% |
| 7 | Spotify Technology | 120.19 Bn | 77.10 Bn | 1.89 Bn | 14.19% |
| 8 | Booking Holdings | 117.09 Bn | 50.14 Bn | - | 35.76% |
| 9 | PDD Holdings | 112.51 Bn | -131.27 Bn | 9.45 Bn | - |
| 10 | NetEase | 75.72 Bn | 34.62 Bn | 3.13 Bn | 41.47% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 41.47% |
| 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();