NetEase (NTES) EV to FCF (2009 - 2026)
NetEase's (NTES) EV to FCF stood at 9.62 in the quarter ended Jun 30, 2026, down 15.4% from 11.37 a year earlier but up 23.8% from the prior quarter.
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Analysis
NetEase (NTES) EV to FCF (2009 - 2026) Analysis & Trends
On a TTM basis, NetEase's EV to FCF came in at 5.24 as of Jun 30, 2026, down 34.6% year-over-year; for the year ended Dec 31, 2025, it was 10.60, up 22.6% from the prior year.
- Across earlier years, EV to FCF came in at 8.65 in the year ended Dec 31, 2024 (-19.2%), 10.70 in the year ended Dec 31, 2023 (+8.3%), 9.88 in the year ended Dec 31, 2022 (-34.8%) and 15.15 in the year ended Dec 31, 2021 (-1.0%).
- Quarterly EV to FCF has ranged from 7.77 in the quarter ended Mar 31, 2026 to 15.32 in the quarter ended Dec 31, 2021 over the past five years.
- On a year-over-year basis, EV to FCF rose in three of the last eight quarters, with an average decline of 2.6%.
- Peak year-over-year performance for EV to FCF in the last five years was growth of 28.5% in the quarter ended Dec 31, 2025, against a decline of 36.6% in the quarter ended Dec 31, 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 7.77 (quarter ended Mar 31, 2026), 10.90 (quarter ended Dec 31, 2025) and 12.64 (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,173.87 Bn | 3,931.39 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,849.67 Bn | 1,552.19 Bn | 49.47 Bn |
| 3 | Netflix | 279.23 Bn | 239.43 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 245.86 Bn | 63.73 Bn | 15.11 Bn |
| 5 | Shopify | 196.08 Bn | 173.27 Bn | 1.71 Bn |
| 6 | Uber Technologies | 138.90 Bn | 110.88 Bn | 6.38 Bn |
| 7 | Booking Holdings | 119.48 Bn | 52.53 Bn | - |
| 8 | PDD Holdings | 107.30 Bn | -144.64 Bn | 9.45 Bn |
| 9 | Spotify Technology | 97.33 Bn | 54.56 Bn | 1.86 Bn |
| 10 | NetEase | 74.83 Bn | 32.10 Bn | 3.13 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.62 |
| Mar 31, 2026 | 7.77 |
| Dec 31, 2025 | 10.90 |
| Sep 30, 2025 | 12.64 |
| Jun 30, 2025 | 11.37 |
| Mar 31, 2025 | 9.46 |
| Dec 31, 2024 | 8.48 |
| Sep 30, 2024 | 10.00 |
| Jun 30, 2024 | 10.48 |
| Mar 31, 2024 | 10.51 |
| Dec 31, 2023 | 10.71 |
| Sep 30, 2023 | 12.51 |
| Jun 30, 2023 | 12.87 |
| Mar 31, 2023 | 11.88 |
| Dec 31, 2022 | 9.72 |
| Sep 30, 2022 | 10.24 |
| Jun 30, 2022 | 13.22 |
| Mar 31, 2022 | 13.70 |
| Dec 31, 2021 | 15.32 |
| Sep 30, 2021 | 12.91 |
API Access
NetEase EV to FCF 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=ev-to-fcf&ticker=NTES&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "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=ev-to-fcf&ticker=NTES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();