NetEase (NTES) Return on Invested Capital [ROIC] (2009 - 2026)
NetEase's Return on Invested Capital [ROIC] came in at 22.23% for the quarter ended Jun 30, 2026, up 0.78 percentage points from 21.45% a year earlier and up 0.81 percentage points from the prior quarter.
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Analysis
NetEase (NTES) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For the year ended Dec 31, 2025, NetEase's Return on Invested Capital [ROIC] was 22.43%, up 3.12 percentage points from the prior year.
- Return on Invested Capital [ROIC] has increased in each of the last three years, with a five-year change of +6.02 percentage points (years ended Dec 2020 to Dec 2025).
- Going back by year, Return on Invested Capital [ROIC] was 19.31% in the year ended Dec 31, 2024 (+0.06 pp), 19.25% in the year ended Dec 31, 2023 (+4.49 pp), 14.76% in the year ended Dec 31, 2022 (-0.16 pp) and 14.91% in the year ended Dec 31, 2021 (-1.49 pp).
- The figure for the quarter ended Jun 30, 2026 represents the highest quarterly Return on Invested Capital [ROIC] since the quarter ended Dec 31, 2017.
- Year-over-year, Return on Invested Capital [ROIC] has increased for six consecutive quarters, with an average year-over-year change of +1.13 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in the quarter ended Dec 31, 2023 (a gain of 5.09 percentage points), and the weakest in the quarter ended Dec 31, 2024 (a drop of 0.37 percentage points).
- Business Quant data shows NTES's Return on Invested Capital [ROIC] at 21.41% (quarter ended Mar 31, 2026), 20.90% (quarter ended Dec 31, 2025) and 21.13% (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,890.87 Bn | 3,648.40 Bn | 73.85 Bn | 18.61% |
| 2 | Meta Platforms | 1,637.40 Bn | 1,339.92 Bn | 49.47 Bn | 20.90% |
| 3 | Netflix | 270.40 Bn | 231.70 Bn | 6.80 Bn | 29.22% |
| 4 | Alibaba Group Holding | 231.40 Bn | 53.61 Bn | 15.11 Bn | 2.37% |
| 5 | Shopify | 218.48 Bn | 195.66 Bn | 1.71 Bn | - |
| 6 | Uber Technologies | 136.01 Bn | 107.99 Bn | 6.38 Bn | 17.38% |
| 7 | Spotify Technology | 120.19 Bn | 77.10 Bn | 1.89 Bn | - |
| 8 | Booking Holdings | 117.09 Bn | 50.14 Bn | - | 75.49% |
| 9 | PDD Holdings | 112.51 Bn | -131.27 Bn | 9.45 Bn | - |
| 10 | NetEase | 75.72 Bn | 34.62 Bn | 3.13 Bn | 22.73% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.73% |
| Mar 31, 2026 | 21.53% |
| Dec 31, 2025 | 20.98% |
| Sep 30, 2025 | 21.57% |
| Jun 30, 2025 | 21.91% |
| Mar 31, 2025 | 21.20% |
| Dec 31, 2024 | 19.79% |
| Sep 30, 2024 | 19.76% |
| Jun 30, 2024 | 19.66% |
| Mar 31, 2024 | 18.77% |
| Dec 31, 2023 | 20.20% |
| Sep 30, 2023 | 19.96% |
| Jun 30, 2023 | 16.91% |
| Mar 31, 2023 | 15.64% |
| Dec 31, 2022 | 15.27% |
| Sep 30, 2022 | 15.71% |
| Jun 30, 2022 | 14.91% |
| Mar 31, 2022 | 14.39% |
| Dec 31, 2021 | 14.63% |
| Sep 30, 2021 | 13.60% |
API Access
NetEase Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=NTES&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=NTES&period=max&api_key=YOUR_API_KEY");
const data = await res.json();