NetEase (NTES) Return on Capital Employed [ROCE] (2009 - 2026)
NetEase (NTES) recorded Return on Capital Employed [ROCE] of 23.00% in the quarter ended Jun 30, 2026, up 0.62 percentage points from 22.39% a year earlier and up 0.85 percentage points from the prior quarter.
Powered by 
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 +0.35 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 4.79 percentage points in the quarter ended Dec 31, 2023, against a drop of 1.93 percentage points in the quarter ended Dec 31, 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 22.15% (quarter ended Mar 31, 2026), 21.29% (quarter ended Dec 31, 2025) and 21.71% (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,624.96 Bn | 3,359.86 Bn | 76.16 Bn | 18.96% |
| 2 | Meta Platforms | 1,640.16 Bn | 1,304.68 Bn | 51.23 Bn | 19.78% |
| 3 | Netflix | 255.21 Bn | 216.51 Bn | 6.80 Bn | 33.64% |
| 4 | Alibaba Group Holding | 219.23 Bn | 41.30 Bn | 15.16 Bn | 2.15% |
| 5 | Shopify | 189.29 Bn | 174.44 Bn | 1.78 Bn | 15.96% |
| 6 | Uber Technologies | 142.08 Bn | 113.28 Bn | 6.42 Bn | 13.04% |
| 7 | AppLovin | 135.54 Bn | 124.07 Bn | 1.94 Bn | 85.44% |
| 8 | Spotify Technology | 126.14 Bn | 83.06 Bn | 1.89 Bn | 20.03% |
| 9 | Booking Holdings | 119.69 Bn | 53.43 Bn | - | 96.01% |
| 10 | NetEase | 78.00 Bn | 36.89 Bn | 3.13 Bn | 23.00% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 23.00% |
| 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();