NetEase (NTES) Gross Margin (2009 - 2026)
NetEase's Gross Margin came in at 70.47% for the quarter ended Jun 30, 2026, up 5.75 percentage points from 64.72% a year earlier and up 1.12 percentage points from the prior quarter.
NetEase (NTES) Gross Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, NetEase reported Gross Margin of 67.21%, up 4.05 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 64.29%, up 1.79 percentage points from the prior year.
- Gross Margin has increased in each of the last five years, with a five-year change of +11.37 percentage points (years ended Dec 2020 to Dec 2025).
- Going back by year, Gross Margin was 62.50% in the year ended Dec 31, 2024 (+1.55 pp), 60.95% in the year ended Dec 31, 2023 (+6.27 pp), 54.68% in the year ended Dec 31, 2022 (+1.07 pp) and 53.62% in the year ended Dec 31, 2021 (+0.70 pp).
- The figure for the quarter ended Jun 30, 2026 represents the highest quarterly Gross Margin since the quarter ended Dec 31, 2014.
- Year-over-year, Gross Margin has increased for six consecutive quarters, with an average year-over-year change of +2.20 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in the quarter ended Dec 31, 2023 (a gain of 9.76 percentage points), and the weakest in the quarter ended Dec 31, 2024 (a drop of 1.16 percentage points).
- Business Quant data shows NTES's Gross Margin at 69.36% (quarter ended Mar 31, 2026), 64.23% (quarter ended Dec 31, 2025) and 64.10% (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,173.87 Bn | 3,931.39 Bn | 73.85 Bn | 61.65% |
| 2 | Meta Platforms | 1,849.67 Bn | 1,552.19 Bn | 49.47 Bn | 81.37% |
| 3 | Netflix | 279.23 Bn | 239.43 Bn | 6.52 Bn | 51.93% |
| 4 | Alibaba Group Holding | 245.86 Bn | 63.73 Bn | 15.11 Bn | 38.11% |
| 5 | Shopify | 196.08 Bn | 173.27 Bn | 1.71 Bn | 47.67% |
| 6 | Uber Technologies | 138.90 Bn | 110.88 Bn | 6.38 Bn | 44.93% |
| 7 | Booking Holdings | 119.48 Bn | 52.53 Bn | - | - |
| 8 | PDD Holdings | 107.30 Bn | -144.64 Bn | 9.45 Bn | 57.06% |
| 9 | Spotify Technology | 97.33 Bn | 54.56 Bn | 1.86 Bn | 33.41% |
| 10 | NetEase | 74.83 Bn | 32.10 Bn | 3.13 Bn | 70.47% |
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% |
NetEase Gross Margin 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=gross-margin&ticker=NTES&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=NTES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();