NetEase (NTES)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from NTES's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from NetEase's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $87.6B | $96.5B | $103.5B | $105.3B | $112.6B |
| Net income | $16.9B | $20.3B | $29.4B | $29.7B | $33.8B |
| Free cash flow | $23.3B | $25.6B | $33.0B | $38.4B | $49.7B |
| EPS (diluted) | $5.01 | $6.17 | $9.05 | $9.19 | $10.48 |
| Operating margin | 18.7% | 20.3% | 26.8% | 28.1% | 31.8% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own NTES
From each investor's latest 13F filing (what a 13F shows). 4 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Dodge & Cox Dodge & Cox |
Added | $277M | 0.14% | Q2 2026 |
| Charles Brandes Brandes Investment Partners, LP |
Added | $49M | 0.34% | Q2 2026 |
| Tom Steyer Farallon Capital Management LLC |
Trimmed | $16M | 0.07% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $680,936 | 0.0% | Q2 2026 |
Insider buying
Open-market purchases by NetEase's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are NetEase insiders buying the stock?
No open-market insider purchases of NTES in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own NetEase?
4 of the superinvestors Investingly tracks hold NTES in their latest 13F, including Dodge & Cox, Charles Brandes, Tom Steyer.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.