NetEase (NTES) Return on Capital Employed [ROCE] (2009 - 2026)
NetEase (NTES) recorded Return on Capital Employed [ROCE] of 23.01% in the quarter ended Jun 30, 2026, up 0.54 percentage points from 22.47% a year earlier and up 0.65 percentage points from the prior quarter.
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Analysis
NetEase (NTES) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For the year ended Dec 31, 2025, NetEase reported Return on Capital Employed [ROCE] of 23.54%, up 2.98 percentage points from the prior year.
- Annual Return on Capital Employed [ROCE] has a five-year change of +4.60 percentage points (years ended Dec 2020 to Dec 2025).
- Across earlier years, Return on Capital Employed [ROCE] came in at 20.56% in the year ended Dec 31, 2024 (-1.08 pp), 21.64% in the year ended Dec 31, 2023 (+4.22 pp), 17.42% in the year ended Dec 31, 2022 (+0.24 pp) and 17.17% in the year ended Dec 31, 2021 (-1.77 pp).
- The figure for the quarter ended Jun 30, 2026 is the highest quarterly Return on Capital Employed [ROCE] since the quarter ended Dec 31, 2017.
- On a year-over-year basis, Return on Capital Employed [ROCE] has increased for six consecutive quarters, with an average year-over-year change of +0.50 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Capital Employed [ROCE] in the last five years was a gain of 5.18 percentage points in the quarter ended Dec 31, 2023, against a drop of 1.69 percentage points in the quarter ended Dec 31, 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 22.37% (quarter ended Mar 31, 2026), 21.46% (quarter ended Dec 31, 2025) and 21.87% (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,890.87 Bn | 3,648.40 Bn | 73.85 Bn | 21.49% |
| 2 | Meta Platforms | 1,637.40 Bn | 1,339.92 Bn | 49.47 Bn | 23.74% |
| 3 | Netflix | 270.40 Bn | 231.70 Bn | 6.80 Bn | 33.64% |
| 4 | Alibaba Group Holding | 231.40 Bn | 53.61 Bn | 15.11 Bn | 2.13% |
| 5 | Shopify | 218.48 Bn | 195.66 Bn | 1.71 Bn | 14.37% |
| 6 | Uber Technologies | 136.01 Bn | 107.99 Bn | 6.38 Bn | 13.97% |
| 7 | Spotify Technology | 120.19 Bn | 77.10 Bn | 1.89 Bn | 20.03% |
| 8 | Booking Holdings | 117.09 Bn | 50.14 Bn | - | 121.68% |
| 9 | PDD Holdings | 112.51 Bn | -131.27 Bn | 9.45 Bn | 22.53% |
| 10 | NetEase | 75.72 Bn | 34.62 Bn | 3.13 Bn | 22.98% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.98% |
| Mar 31, 2026 | 22.15% |
| Dec 31, 2025 | 21.29% |
| Sep 30, 2025 | 21.71% |
| Jun 30, 2025 | 22.39% |
| Mar 31, 2025 | 21.91% |
| Dec 31, 2024 | 20.79% |
| Sep 30, 2024 | 20.66% |
| Jun 30, 2024 | 20.37% |
| Mar 31, 2024 | 21.52% |
| Dec 31, 2023 | 22.72% |
| Sep 30, 2023 | 20.72% |
| Jun 30, 2023 | 17.30% |
| Mar 31, 2023 | 18.46% |
| Dec 31, 2022 | 17.93% |
| Sep 30, 2022 | 18.19% |
| Jun 30, 2022 | 17.68% |
| Mar 31, 2022 | 16.74% |
| Dec 31, 2021 | 16.37% |
| Sep 30, 2021 | 14.40% |
API Access
NetEase Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=NTES&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=NTES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();