NetEase, Inc. (NTES) quarterly balance sheet — complete assets, liabilities & equity history
NetEase, Inc. (NTES) balance sheet — 27-year assets, liabilities & shareholders' equity history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Total Current Assets | 192.13B | 188.66B | 180.73B | 171.21B | 162.95B | 157.67B | 153.32B | 140.58B | 138.15B | 151.79B | 142.69B | 127.57B | 124.22B | 135.55B | 131.6B | 131.59B | 128.01B | 119.07B | 113.12B | 108.94B |
| Cash & Short-Term Investments | 179.9B | 170.9B | 167.04B | 149.09B | 146.69B | 140.11B | 137.58B | 123.99B | 122.86B | 134.6B | 126.72B | 110.83B | 109.81B | 120.44B | 117.46B | 116.24B | 111.55B | 102.5B | 97.53B | 91.33B |
| Cash Only | 27.27B | 50.82B | 51.52B | 31.33B | 54.43B | 41.75B | 51.38B | 20.18B | 18.98B | 43.03B | 21.43B | 15.12B | 12.77B | 13.7B | 24.89B | 18B | 16.46B | 9.85B | 14.5B | 22.27B |
| Short-Term Investments | 152.63B | 120.09B | 115.52B | 117.77B | 92.26B | 98.37B | 86.2B | 103.8B | 103.87B | 91.57B | 105.29B | 95.71B | 97.04B | 106.74B | 92.57B | 98.24B | 95.08B | 92.65B | 83.04B | 69.07B |
| Accounts Receivable | 5.75B | 6.49B | 5.34B | 5.96B | 5.78B | 6.74B | 8.15B | 6.17B | 6.36B | 7.77B | 9.23B | 6.49B | 5.34B | 6.09B | 5.04B | 5.21B | 5.21B | 5.28B | 6.35B | 5.42B |
| Days Sales Outstanding | 18.55 | 17.41 | 18.88 | 19.04 | 20.42 | 23.24 | 24.63 | 22 | 25.23 | 28.81 | 26.65 | 19.96 | 21.67 | 20 | 18.6 | 19.62 | 20.61 | 22.2 | 22.21 | 20.47 |
| Inventory | 512.08M | 546.03M | 689.62M | 637.33M | 591.76M | 517.79M | 571.55M | 613.68M | 574.44M | 603.98M | 695.37M | 721.96M | 806.96M | 876.3M | 993.64M | 932.9M | 843.77M | 861.31M | 964.73M | 1.04B |
| Days Inventory Outstanding | 5.43 | 5.93 | 6.19 | 5.55 | 5.13 | 4.74 | 5.2 | 5.62 | 5.68 | 6.01 | 6.32 | 6.83 | 7.95 | 8.29 | 7.32 | 7.65 | 7.59 | 7.67 | 8.04 | 8.52 |
| Other Current Assets | 5.97B | 10.72B | 7.66B | 15.52B | 9.89B | 10.3B | 753.31M | 9.81B | 8.36B | 8.82B | 2.91B | 9.52B | 8.27B | 8.13B | 4.23B | 2.84B | 3.09B | 3.34B | 3.72B | 3.46B |
| Total Non-Current Assets | 40.16B | 42.74B | 40.83B | 43.28B | 45.55B | 43.19B | 42.67B | 44.32B | 45.19B | 43.27B | 43.23B | 44.01B | 43.68B | 42.69B | 41.16B | 41.12B | 40.17B | 40.17B | 40.52B | 38.84B |
| Property, Plant & Equipment | 8.18B | 8.31B | 8.43B | 8.52B | 8.45B | 8.45B | 8.52B | 8.2B | 8.09B | 8.06B | 8.82B | 7.58B | 7.35B | 6.62B | 7.23B | 6.17B | 6.02B | 5.84B | 6.48B | 4.96B |
| Fixed Asset Turnover | 3.64x | 3.65x | 3.25x | 3.34x | 3.30x | 3.40x | 3.20x | 3.22x | 3.16x | 3.18x | 3.31x | 3.65x | 3.44x | 3.62x | 3.79x | 4.01x | 3.90x | 3.82x | 4.26x | 4.60x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 1.86B | 0 | 0 | 0 | 1.86B | 0 | 0 | 0 | 2.17B | 0 | 0 | 0 | 595.28M | 0 |
| Intangible Assets | 0 | 4.01B | 4.05B | 4.08B | 4.11B | 4.14B | 5.59B | 4.2B | 4.02B | 4.05B | 5.96B | 4.11B | 4.15B | 4.12B | 6.24B | 4.13B | 4.16B | 4.15B | 6.73B | 4.11B |
| Long-Term Investments | 21.61B | 3.04B | 3B | 2.85B | 2.94B | 3.02B | 23.23B | 4.03B | 3.94B | 1.05B | 22.83B | 2.22B | 2.68B | 2.73B | 21.52B | 4.47B | 4.47B | 4.47B | 24.63B | 6.95B |
| Other Non-Current Assets | 7.67B | 24.47B | 22.51B | 25.23B | 27.87B | 26.28B | 3.47B | 26.71B | 27.63B | 28.64B | 2.2B | 28.67B | 28.18B | 27.95B | 2.52B | 24.96B | 24.26B | 24.58B | 798.43M | 21.72B |
| Total Assets | 232.29B | 231.4B | 221.56B | 214.49B | 208.5B | 200.86B | 195.99B | 184.9B | 183.34B | 195.06B | 185.92B | 171.58B | 167.91B | 178.24B | 172.76B | 172.71B | 168.18B | 159.25B | 153.64B | 147.79B |
| Asset Turnover | 0.13x | 0.14x | 0.13x | 0.13x | 0.14x | 0.15x | 0.14x | 0.14x | 0.13x | 0.14x | 0.15x | 0.16x | 0.14x | 0.14x | 0.15x | 0.14x | 0.14x | 0.15x | 0.16x | 0.15x |
| Asset Growth % | 11.41% | 15.2% | 13.04% | 16% | 13.72% | 2.97% | 5.41% | 7.76% | 9.19% | 9.44% | 7.62% | -0.66% | -0.16% | 11.93% | 12.44% | 16.86% | 8.6% | 5.81% | 8.3% | 2.11% |
| Total Current Liabilities | 55.64B | 57.44B | 52.4B | 50.09B | 50.45B | 49.14B | 49.67B | 45.71B | 45.93B | 60.05B | 53.84B | 43.87B | 42.34B | 58.18B | 56.83B | 57.03B | 57.44B | 51.76B | 50.5B | 49.01B |
| Accounts Payable | 702.51M | 780.92M | 643.57M | 718.39M | 695.41M | 565.14M | 720.55M | 755.37M | 792M | 871.43M | 881.02M | 863.33M | 740.61M | 831.12M | 1.51B | 867.3M | 942.07M | 924.57M | 985.06M | 1.1B |
| Days Payables Outstanding | 7.61 | 6.84 | 6.36 | 6.39 | 5.83 | 5.59 | 6.48 | 7.31 | 8.01 | 8.11 | 7.78 | 7.16 | 7.42 | 10.37 | 9.02 | 7.79 | 8.31 | 8.02 | 8.37 | 8.81 |
| Short-Term Debt | 12.61B | 10.96B | 6.39B | 7.35B | 11.28B | 9.82B | 11.81B | 10.59B | 13.19B | 24.84B | 19.24B | 11.22B | 11.88B | 27.39B | 23.88B | 25.45B | 28.03B | 22.68B | 19.35B | 19.61B |
| Deferred Revenue (Current) | 19.3B | 21.81B | 20.53B | 19.47B | 16.97B | 17.75B | 19.64B | 15.54B | 13.62B | 14.91B | 16.99B | 14.19B | 12.94B | 13B | 15.81B | 13.9B | 12.32B | 12.05B | 14.7B | 13.57B |
| Other Current Liabilities | 15.53B | 0 | 16.07B | 0 | 0 | 0 | 0 | 0 | 0 | 6.54B | 0 | 5.91B | 5.95B | 6.12B | 0 | 6.44B | 6.47B | 7.02B | 0 | 6.59B |
| Current Ratio | 3.45x | 3.28x | 3.45x | 3.42x | 3.23x | 3.21x | 3.09x | 3.08x | 3.01x | 2.53x | 2.65x | 2.91x | 2.93x | 2.33x | 2.32x | 2.31x | 2.23x | 2.30x | 2.24x | 2.22x |
| Quick Ratio | 3.44x | 3.28x | 3.44x | 3.41x | 3.22x | 3.20x | 3.08x | 3.06x | 3.00x | 2.52x | 2.64x | 2.89x | 2.91x | 2.31x | 2.30x | 2.29x | 2.21x | 2.28x | 2.22x | 2.20x |
| Cash Conversion Cycle | 16.37 | 16.5 | 18.71 | 18.21 | 19.72 | 22.39 | 23.35 | 20.31 | 22.89 | 26.71 | 25.2 | 19.63 | 22.19 | 17.93 | 16.89 | 19.48 | 19.89 | 21.85 | 21.88 | 20.18 |
| Total Non-Current Liabilities | 5.03B | 4.61B | 3.94B | 3.47B | 3.94B | 3.85B | 3.83B | 3.46B | 3.07B | 4.38B | 4B | 3.76B | 7.3B | 7.39B | 7.06B | 6.03B | 5.83B | 5.71B | 3.72B | 2.33B |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 428M | 428M | 428M | 428M | 428M | 428M | 3.95B | 3.73B | 3.65B | 3.55B | 3.36B | 3.17B | 1.28B | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 412.6M | 0 | 0 | 0 | 555.83M | 0 | 0 | 0 | 672.64M | 0 | 0 | 0 | 732.13M | 0 |
| Deferred Tax Liabilities | 3.73B | 3.23B | 2.64B | 2.21B | 2.72B | 2.67B | 2.17B | 1.83B | 1.45B | 0 | 2.3B | 0 | 0 | 0 | 2.13B | 1.35B | 0 | 0 | 1.35B | 1.58B |
| Other Non-Current Liabilities | 1.3B | 1.38B | 1.31B | 1.26B | 1.22B | 1.18B | 816.04M | 1.2B | 1.19B | 3.95B | 715.28M | 3.33B | 3.35B | 3.66B | 604.93M | 1.13B | 2.47B | 2.54B | 365.58M | 747.26M |
| Total Liabilities | 60.67B | 62.05B | 56.35B | 53.56B | 54.39B | 52.99B | 53.5B | 49.17B | 49B | 64.43B | 57.84B | 47.63B | 49.64B | 65.7B | 63.89B | 63.2B | 63.42B | 57.62B | 54.37B | 51.34B |
| Total Debt | 12.61B | 10.96B | 6.39B | 7.35B | 11.28B | 9.82B | 12.82B | 11.02B | 13.62B | 25.27B | 20.48B | 11.65B | 15.84B | 31.12B | 28.46B | 29B | 31.38B | 25.85B | 21.69B | 19.61B |
| Net Debt | -14.66B | -39.86B | -45.13B | -23.98B | -43.15B | -31.92B | -38.57B | -9.16B | -5.37B | -17.76B | -945.42M | -3.47B | 3.07B | 17.42B | 3.57B | 11B | 14.92B | 16B | 7.2B | -2.65B |
| Debt / Equity | 0.07x | 0.06x | 0.04x | 0.05x | 0.07x | 0.07x | 0.09x | 0.08x | 0.10x | 0.19x | 0.16x | 0.09x | 0.13x | 0.28x | 0.26x | 0.26x | 0.30x | 0.25x | 0.22x | 0.20x |
| Debt / EBITDA | 1.01x | 0.84x | 0.71x | 0.85x | 1.19x | 0.90x | 1.50x | 1.44x | 1.79x | 3.09x | 2.72x | 1.42x | 2.36x | 3.75x | 5.47x | 5.31x | 5.65x | 4.12x | 3.98x | 4.28x |
| Net Debt / EBITDA | -1.17x | -3.05x | -5.00x | -2.78x | -4.55x | -2.92x | -4.53x | -1.19x | -0.70x | -2.17x | -0.13x | -0.42x | 0.46x | 2.10x | 0.69x | 2.02x | 2.69x | 2.55x | 1.32x | -0.58x |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 171.62B | 169.35B | 165.21B | 160.93B | 154.1B | 147.87B | 142.49B | 135.73B | 134.35B | 130.64B | 128.08B | 123.95B | 118.27B | 112.54B | 108.87B | 109.51B | 104.76B | 101.63B | 99.28B | 96.45B |
| Equity Growth % | 11.37% | 14.53% | 15.94% | 18.57% | 14.71% | 13.19% | 11.25% | 9.51% | 13.6% | 16.09% | 17.64% | 13.19% | 12.89% | 10.73% | 9.66% | 13.54% | 6.34% | 3.57% | 19.62% | 12.03% |
| Book Value per Share | 266.36 | 262.37 | 255.91 | 249.62 | 239.69 | 230.59 | 222.22 | 208.40 | 206.27 | 201.02 | 196.86 | 190.71 | 182.01 | 172.79 | 166.52 | 166.23 | 158.47 | 153.23 | 149.38 | 143.45 |
| Total Shareholders' Equity | 167.15B | 164.72B | 160.4B | 156.26B | 149.59B | 143.83B | 138.69B | 132.15B | 130.91B | 127.28B | 124.29B | 119.98B | 114.26B | 108.64B | 104.73B | 105.36B | 100.83B | 97.67B | 95.33B | 83.78B |
| Common Stock | 2.63M | 0 | 160.3B | 156.26B | 149.59B | 143.83B | 2.63M | 132.15B | 130.91B | 127.28B | 2.71M | 119.98B | 114.26B | 108.64B | 2.71M | 105.36B | 100.83B | 97.67B | 2.79M | 83.78B |
| Retained Earnings | 159.17B | 0 | 0 | 0 | 0 | 0 | 132.29B | 0 | 0 | 0 | 112.21B | 0 | 0 | 0 | 91.07B | 0 | 0 | 0 | 77.49B | 0 |
| Treasury Stock | -1.62B | 0 | 0 | 0 | 0 | 0 | -4.47B | 0 | 0 | 0 | -12.69B | 0 | 0 | 0 | -10.91B | 0 | 0 | 0 | -20.5B | 0 |
| Accumulated OCI | 813.54M | 0 | 0 | 0 | 0 | 0 | 1.01B | 0 | 0 | 0 | 2.16B | 0 | 0 | 0 | 1.71B | 0 | 0 | 0 | 417.06M | 0 |
| Minority Interest | 4.47B | 4.63B | 4.81B | 4.68B | 4.52B | 4.04B | 3.81B | 3.58B | 3.44B | 3.36B | 3.8B | 3.97B | 4B | 3.89B | 4.14B | 4.14B | 3.93B | 3.96B | 3.95B | 12.67B |