NetEase (NTES) Gross Margin (2009 - 2026)
NetEase's (NTES) quarterly Gross Margin came in at 69.36% in Q1 2026, up 526.0% YoY from 11.08% in Q1 2025, and up 7.99% on a QoQ basis from 64.23% in Q4 2025.
NetEase (NTES) Gross Margin (2009 - 2026) Analysis & Trends
NetEase (NTES) has 18 years of Gross Margin data on file, last reported at 69.36% in 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 advanced to 69.36% in Q1 2026, from 64.23% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 69.36% in Q1 2026 to a low of 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 sank 116 bps.
- Tracing NTES's Gross Margin over 5 years: stood at 52.24% in 2022, then grew by 19 bps to 61.99% in 2023, then declined by 2 bps to 60.84% in 2024, then grew by 6 bps to 64.23% in 2025, then climbed by 8 bps to 69.36% in 2026.
- The last three Gross Margin figures came in at 69.36% (Q1 2026), 64.23% (Q4 2025), and 64.1% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | NetEase | 81.69 Bn | -13,107,903.72 Bn | 3.06 Bn | 69.36% |
| 2 | Electronic Arts | 52.84 Bn | 50.56 Bn | 1.71 Bn | 86.20% |
| 3 | Take Two Interactive Software | 45.20 Bn | 43.37 Bn | 882.50 Mn | 57.53% |
| 4 | Roblox | 27.59 Bn | 24.58 Bn | 1.18 Bn | 80.12% |
| 5 | Playtika Holding | 902.02 Mn | 463.52 Mn | 538.20 Mn | 73.62% |
| 6 | DoubleDown Interactive | 636.76 Mn | 181.54 Mn | 71.22 Mn | 75.54% |
| 7 | Gravity | 493.16 Mn | 492.73 Mn | 34,891.11 | 32.33% |
| 8 | Sohu.com | 363.44 Mn | -469.54 Mn | 106.58 Mn | 78.64% |
| 9 | Gdev | 196.72 Mn | 196.72 Mn | - | - |
| 10 | Meridian Holdings | 177.00 Mn | 159.68 Mn | 26.85 Mn | 53.50% |
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% |