NetEase (NTES) FCF Margin (2009 - 2026)
NetEase (NTES) posted FCF Margin of 45.91% for Q1 2026, down 15.46% on a QoQ basis from 54.31% in Q4 2025, and up 234.0% year-over-year from 13.75% in Q1 2025.
NetEase (NTES) FCF Margin (2009 - 2026) Analysis & Trends
NetEase's FCF Margin history runs 18 years deep, the most recent figure standing at 45.91% for Q1 2026.
- Quarterly FCF Margin rose 234.0% year-over-year to 45.91% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 46.62% (up 601.0% YoY) and the FY2025 annual result came in at 43.26%, up 655.0% from the prior year.
- FCF Margin was 45.91% for Q1 2026 at NetEase, down from 54.31% in the prior quarter.
- Across five years, FCF Margin topped out at 54.31% in Q4 2025 and bottomed at 22.64% in Q1 2022.
- A 5-year average of 38.39% and a median of 38.46% in 2023 frame the typical range for FCF Margin.
- Annual changes were most pronounced in 2024 — FCF Margin sank 785 bps — and 2025, when it jumped 1333 bps.
- NetEase's FCF Margin stood at 36.91% in 2022, then increased by 23 bps to 45.3% in 2023, then rose by 10 bps to 49.81% in 2024, then increased by 9 bps to 54.31% in 2025, then fell by 15 bps to 45.91% in 2026.
- Business Quant data shows NTES's FCF Margin at 45.91% in Q1 2026, 54.31% in Q4 2025, and 46.66% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Electronic Arts | 52.46 Bn | 49.60 Bn | 1.76 Bn | 24.48% |
| 2 | Take Two Interactive Software | 48.15 Bn | 47.69 Bn | 938.70 Mn | 11.82% |
| 3 | Roblox | 33.85 Bn | 30.63 Bn | 1.15 Bn | 41.33% |
| 4 | Gdev | 2.31 Bn | 2.31 Bn | 85.00 Mn | 4.04% |
| 5 | NetEase | 2.16 Bn | -7,331,731.34 Bn | 3.06 Bn | 45.91% |
| 6 | Playtika Holding | 1.35 Bn | 575.11 Mn | 552.50 Mn | 1.87% |
| 7 | Gravity | 418.32 Mn | 418.18 Mn | 35,341.61 | - |
| 8 | Meridian Holdings | 152.70 Mn | 138.17 Mn | 28.14 Mn | 10.32% |
| 9 | Firy | 128.08 Mn | -57.32 Mn | 25.51 Mn | -25.21% |
| 10 | CTW Cayman | 118.94 Mn | 99.19 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 45.91% |
| Dec 31, 2025 | 54.31% |
| Sep 30, 2025 | 46.66% |
| Jun 30, 2025 | 39.62% |
| Mar 31, 2025 | 43.57% |
| Dec 31, 2024 | 49.81% |
| Sep 30, 2024 | 41.80% |
| Jun 30, 2024 | 26.29% |
| Mar 31, 2024 | 37.14% |
| Dec 31, 2023 | 45.30% |
| Sep 30, 2023 | 38.46% |
| Jun 30, 2023 | 34.15% |
| Mar 31, 2023 | 26.57% |
| Dec 31, 2022 | 36.91% |
| Sep 30, 2022 | 32.93% |
| Jun 30, 2022 | 30.55% |
| Mar 31, 2022 | 22.64% |
| Dec 31, 2021 | 36.15% |
| Sep 30, 2021 | 30.19% |
| Jun 30, 2021 | 25.07% |