NetEase (NTES) Operating Leases (2018 - 2025)

NetEase (NTES) has reported Operating Leases for 8 consecutive years, with $32.7 million the latest figure, recorded in Q4 2025.

• For the quarter ending Q4 2025, Operating Leases fell 43.03% year-over-year to $32.7 million; the trailing twelve-month figure through Dec 2025 stood at $32.7 million (down 43.03% YoY), and the FY2025 full-year result was $33.2 million, down 41.28% from the prior year.
• Operating Leases retreated to $32.7 million in Q4 2025 per NTES's latest filing, from $57.4 million in the prior quarter.
• Across five years, Operating Leases topped out at $114.5 million in Q4 2021 and bottomed at $32.7 million in Q4 2025.
• Historically, Operating Leases has averaged $75.3 million across 5 years, with a median of $77.2 million in 2023.
• The sharpest annual moves came in 2021 and 2025: Operating Leases surged 59.81% in 2021, then sank 43.03% in 2025.
• Over 5 years, Operating Leases stood at $114.5 million in 2021, then slipped by 17.41% to $94.6 million in 2022, then dropped by 18.37% to $77.2 million in 2023, then retreated by 25.59% to $57.4 million in 2024, then tumbled by 43.03% to $32.7 million in 2025.
• According to Business Quant data, Operating Leases over the past three periods registered $32.7 million, $57.4 million, and $77.2 million for Q4 2025, Q4 2024, and Q4 2023 respectively.