NetEase (NTES) Gross Margin (2009 - 2026)
NetEase's (NTES) quarterly Gross Margin came in at 70.47% in Q2 2026, up 575.0% on a YoY basis from 10.44% in Q2 2025, and up 1.61% quarter-over-quarter from 69.36% in Q1 2026.
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NetEase (NTES) Gross Margin (2009 - 2026) Analysis & Trends
NetEase (NTES) has reported Gross Margin for 18 consecutive years, with 70.47% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 575.0% year-over-year to 70.47%; the trailing twelve-month figure through Jun 2026 stood at 67.21% (up 405.0% YoY), and the FY2025 full-year result was 64.29%, up 179.0% from the prior year.
- Gross Margin improved to 70.47% in Q2 2026 per NTES's latest filing, from 69.36% in the prior quarter.
- Across five years, Gross Margin topped out at 70.47% in Q2 2026 and bottomed at 52.24% in Q4 2022.
- Historically, Gross Margin has averaged 61.63% across 5 years, with a median of 62.54% in 2023.
- The sharpest annual moves came in 2023 and 2024: Gross Margin soared 976 bps in 2023, then slumped 116 bps in 2024.
- Over 5 years, Gross Margin stood at 52.24% in 2022, then rose by 19 bps to 61.99% in 2023, then retreated by 2 bps to 60.84% in 2024, then rose by 6 bps to 64.23% in 2025, then increased by 10 bps to 70.47% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 70.47%, 69.36%, and 64.23% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | NetEase | 73.81 Bn | 63.67 Bn | 3.13 Bn | 70.47% |
| 2 | Electronic Arts | 52.84 Bn | 50.56 Bn | 1.71 Bn | 86.20% |
| 3 | Take Two Interactive Software | 40.29 Bn | 38.47 Bn | 882.50 Mn | 57.53% |
| 4 | Roblox | 32.49 Bn | 29.45 Bn | 1.18 Bn | 80.12% |
| 5 | The9 | 3.01 Bn | 3.00 Bn | 319,000.00 | 44.80% |
| 6 | Playtika Holding | 881.03 Mn | 442.53 Mn | 538.20 Mn | 73.62% |
| 7 | DoubleDown Interactive | 628.34 Mn | 74.78 Mn | 71.22 Mn | 75.54% |
| 8 | Gravity | 495.39 Mn | 494.95 Mn | 34,891.11 | 32.33% |
| 9 | Sohu.com | 356.62 Mn | -476.01 Mn | 133.81 Mn | 98.73% |
| 10 | Gdev | 206.92 Mn | 124.67 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 70.47% |
| Mar 31, 2026 | 69.36% |
| Dec 31, 2025 | 64.23% |
| Sep 30, 2025 | 64.10% |
| Jun 30, 2025 | 64.72% |
| Mar 31, 2025 | 64.10% |
| Dec 31, 2024 | 60.84% |
| Sep 30, 2024 | 62.86% |
| Jun 30, 2024 | 62.95% |
| Mar 31, 2024 | 63.37% |
| Dec 31, 2023 | 61.99% |
| Sep 30, 2023 | 62.22% |
| Jun 30, 2023 | 59.87% |
| Mar 31, 2023 | 59.48% |
| Dec 31, 2022 | 52.24% |
| Sep 30, 2022 | 56.27% |
| Jun 30, 2022 | 55.88% |
| Mar 31, 2022 | 54.49% |
| Dec 31, 2021 | 53.00% |
| Sep 30, 2021 | 53.22% |