NetEase (NTES) Operating Leases (2019 - 2025)

NetEase's Operating Leases history runs 7 years deep, the most recent figure standing at $32.7 million for Q4 2025.

• Quarterly Operating Leases fell 43.03% year-over-year to $32.7 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $32.7 million (down 43.03% YoY) and the FY2025 annual result came in at $33.2 million, down 41.28% from the prior year.
• Operating Leases was $32.7 million for Q4 2025 at NetEase, down 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.
• A 5-year average of $75.3 million and a median of $77.2 million in 2023 frame the typical range for Operating Leases.
• Annual changes were most pronounced in 2021 — Operating Leases jumped 59.81% — and 2025, when it tumbled 43.03%.
• NetEase's 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.
• Business Quant data shows NTES's Operating Leases at $32.7 million in Q4 2025, $57.4 million in Q4 2024, and $77.2 million in Q4 2023.