NetEase (NTES) Gross Margin (2009 - 2026)
NetEase (NTES) posted Gross Margin of 69.36% for Q1 2026, up 7.99% on a QoQ basis from 64.23% in Q4 2025, and up 526.0% year-over-year from 11.08% in Q1 2025.
NetEase (NTES) Gross Margin (2009 - 2026) Analysis & Trends
NetEase's Gross Margin history runs 18 years deep, the most recent figure standing at 69.36% for Q1 2026.
- Quarterly Gross Margin rose 526.0% year-over-year to 69.36% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 65.72% (up 301.0% YoY) and the FY2025 annual result came in at 64.29%, up 179.0% from the prior year.
- Gross Margin was 69.36% for Q1 2026 at NetEase, up from 64.23% in the prior quarter.
- Across five years, Gross Margin topped out at 69.36% in Q1 2026 and bottomed at 52.24% in Q4 2022.
- A 5-year average of 61.11% and a median of 62.22% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2023 — Gross Margin surged 976 bps — and 2024, when it plunged 116 bps.
- NetEase's 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 8 bps to 69.36% in 2026.
- Business Quant data shows NTES's Gross Margin at 69.36% in Q1 2026, 64.23% in Q4 2025, and 64.1% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Electronic Arts | 52.46 Bn | 49.60 Bn | 1.76 Bn | 82.83% |
| 2 | Take Two Interactive Software | 48.15 Bn | 47.69 Bn | 938.70 Mn | 55.88% |
| 3 | Roblox | 33.85 Bn | 30.63 Bn | 1.15 Bn | 79.61% |
| 4 | Gdev | 2.31 Bn | 2.31 Bn | 85.00 Mn | 85.86% |
| 5 | NetEase | 2.16 Bn | -7,331,731.34 Bn | 3.06 Bn | 69.36% |
| 6 | Playtika Holding | 1.35 Bn | 575.11 Mn | 552.50 Mn | 74.19% |
| 7 | Gravity | 418.32 Mn | 418.18 Mn | 35,341.61 | 31.91% |
| 8 | Meridian Holdings | 152.70 Mn | 138.17 Mn | 28.14 Mn | 56.17% |
| 9 | Firy | 128.08 Mn | -57.32 Mn | 25.51 Mn | 87.64% |
| 10 | CTW Cayman | 118.94 Mn | 99.19 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 54.52% |