Last 47 quarters of trend data · Technology · Electronic Gaming & Multimedia
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 16.13 | 2.97 | 1.69 | 3.62 | 2.85 | 2.52 | 1.60 | 1.63 | 2.30 | 2.30 | 2.20 | 2.31 | 2.08 | 1.90 | 2.14 | 3.00 | 1.86 | 2.92 | 3.37 | 2.98 | 4.49 |
| — | +17.7% | +5.5% | +121.7% | +23.6% | +9.7% | -27.2% | -29.1% | +10.8% | +20.7% | +3.1% | -23.2% | +11.6% | -34.8% | -36.6% | +0.8% | -58.6% | -46.8% | -14.4% | -82.0% | -14.0% | |
| P/S Ratio | 4.78 | 0.69 | 0.59 | 0.81 | 0.86 | 0.78 | 0.57 | 0.53 | 0.58 | 0.61 | 0.63 | 0.56 | 0.60 | 0.65 | 0.57 | 0.47 | 0.51 | 0.67 | 0.63 | 0.69 | 0.65 |
| — | -11.3% | +3.2% | +50.8% | +48.7% | +27.0% | -8.6% | -4.2% | -2.7% | -6.6% | +8.9% | +19.2% | +17.1% | -1.8% | -8.9% | -32.5% | -21.2% | -29.9% | -26.2% | -16.1% | -22.6% | |
| P/B Ratio | 3.29 | 0.48 | 0.43 | 0.54 | 0.61 | 0.56 | 0.45 | 0.40 | 0.45 | 0.46 | 0.51 | 0.47 | 0.53 | 0.53 | 0.51 | 0.44 | 0.45 | 0.59 | 0.59 | 0.68 | 0.60 |
| — | -14.3% | -4.4% | +34.0% | +35.7% | +21.2% | -13.3% | -15.2% | -14.6% | -12.8% | +0.6% | +8.5% | +15.5% | -9.8% | -12.6% | -36.0% | -23.6% | -25.6% | -18.2% | -13.4% | -17.9% | |
| P/FCF | 11.14 | 2.07 | 1.38 | 1.55 | 1.96 | 2.09 | 1.45 | 1.13 | 1.53 | 2.61 | 1.88 | 1.35 | 1.92 | 2.28 | 3.19 | 1.40 | 1.84 | 2.53 | 4.03 | 2.22 | 2.53 |
| — | -0.9% | -5.3% | +37.6% | +28.7% | -20.0% | -22.6% | -16.8% | -20.7% | +14.2% | -41.1% | -3.2% | +4.7% | -9.7% | -21.0% | -37.0% | -27.5% | -51.6% | +9.9% | +2.8% | -30.3% | |
| EV / EBITDA | 12.95 | 1.36 | 0.62 | 1.21 | 2.14 | 1.14 | 0.78 | 0.55 | 1.69 | 1.86 | 1.51 | 1.98 | 1.88 | 2.45 | 2.26 | 2.45 | 2.79 | 3.45 | 3.01 | 3.44 | 2.99 |
| — | +18.9% | -20.7% | +121.3% | +27.1% | -38.7% | -48.4% | -72.4% | -10.1% | -23.9% | -33.1% | -19.2% | -32.6% | -29.0% | -24.9% | -28.6% | -6.8% | -34.3% | -27.0% | -28.6% | -42.1% | |
| EV / EBIT | 13.76 | 1.41 | 0.64 | 1.31 | 2.31 | 1.20 | 0.82 | 0.60 | 1.81 | 2.03 | 1.62 | 2.17 | 2.04 | 2.72 | 2.60 | 2.88 | 3.21 | 3.87 | 3.43 | 4.06 | 3.63 |
| — | +17.7% | -21.6% | +120.5% | +27.6% | -41.2% | -49.7% | -72.6% | -11.2% | -25.2% | -37.5% | -24.6% | -36.4% | -29.9% | -24.2% | -29.1% | -11.6% | -39.4% | -30.2% | -36.1% | -46.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.3% | 70.5% | 69.4% | 64.2% | 64.1% | 64.7% | 64.1% | 60.8% | 62.9% | 62.9% | 63.4% | 62.0% | 62.2% | 59.9% | 59.5% | 52.2% | 56.3% | 55.9% | 54.5% | 53.0% | 53.2% |
| — | +8.9% | +8.2% | +5.6% | +2.0% | +2.8% | +1.2% | -1.9% | +1.0% | +5.1% | +6.5% | +18.7% | +10.6% | +7.1% | +9.1% | -1.4% | +5.7% | +2.5% | +1.2% | +5.5% | +0.5% | |
| Operating Margin | 31.8% | 40.2% | 41.4% | 30.2% | 28.3% | 32.5% | 36.2% | 29.2% | 27.3% | 27.4% | 28.4% | 25.3% | 27.7% | 25.2% | 28.8% | 17.5% | 19.4% | 21.4% | 23.4% | 18.9% | 17.0% |
| — | +23.6% | +14.2% | +3.3% | +3.6% | +18.4% | +27.6% | +15.5% | -1.6% | +8.7% | -1.5% | +44.7% | +42.8% | +18.2% | +23.3% | -7.5% | +14.1% | +16.6% | +12.2% | +24.0% | +10.6% | |
| Net Margin | 30.0% | 23.2% | 34.9% | 22.7% | 30.4% | 30.8% | 35.7% | 32.8% | 24.9% | 26.5% | 28.4% | 24.3% | 28.7% | 34.3% | 27.0% | 15.6% | 27.4% | 22.8% | 18.7% | 23.4% | 14.3% |
| — | -24.8% | -2.4% | -30.9% | +21.8% | +16.3% | +25.7% | +35.1% | -13.2% | -22.7% | +5.4% | +55.6% | +4.8% | +50.2% | +44.6% | -33.3% | +91.3% | +32.4% | -13.8% | +373.2% | -10.8% |
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.9% | 4.1% | 6.4% | 3.8% | 5.5% | 5.7% | 7.1% | 6.3% | 4.8% | 5.1% | 5.9% | 5.2% | 6.5% | 7.1% | 6.1% | 3.6% | 6.3% | 5.1% | 4.4% | 5.8% | 3.3% |
| — | -28.3% | -10.1% | -39.3% | +13.0% | +11.7% | +20.2% | +20.6% | -25.2% | -28.6% | -3.3% | +44.3% | +3.5% | +39.3% | +39.5% | -37.8% | +91.6% | +42.3% | -10.8% | +404.2% | -5.8% | |
| ROA | 16.2% | 3.0% | 4.7% | 2.9% | 4.1% | 4.2% | 5.2% | 4.6% | 3.6% | 3.6% | 4.0% | 3.7% | 4.6% | 4.8% | 3.8% | 2.3% | 3.9% | 3.2% | 2.8% | 3.8% | 2.1% |
| — | -28.6% | -9.2% | -37.8% | +14.7% | +17.6% | +29.5% | +25.0% | -23.1% | -25.0% | +4.1% | +60.9% | +17.5% | +47.4% | +37.0% | -39.4% | +86.9% | +39.3% | -7.5% | +454.9% | +1.3% | |
| ROIC | 24.0% | 6.3% | 7.6% | 4.9% | 4.8% | 6.0% | 7.1% | 5.1% | 4.2% | 4.3% | 4.8% | 4.2% | 4.7% | 3.6% | 4.5% | 2.9% | 3.0% | 3.1% | 3.7% | 3.5% | 2.7% |
| — | +5.4% | +6.8% | -4.6% | +15.6% | +38.1% | +49.5% | +22.3% | -10.5% | +19.8% | +6.6% | +45.7% | +58.3% | +15.8% | +21.2% | -17.3% | +10.0% | +26.7% | +18.4% | +49.8% | +25.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.07 | 0.06 | 0.04 | 0.05 | 0.07 | 0.07 | 0.09 | 0.08 | 0.10 | 0.19 | 0.16 | 0.09 | 0.13 | 0.28 | 0.26 | 0.26 | 0.30 | 0.25 | 0.22 | 0.20 |
| — | +0.4% | -2.6% | -57.0% | -43.8% | -27.8% | -65.7% | -43.8% | -13.6% | -24.3% | -30.1% | -38.8% | -64.5% | -55.3% | +8.7% | +19.6% | +30.2% | +5.7% | +10.6% | -10.7% | -21.3% | |
| Debt / EBITDA | 0.17 | 1.01 | 0.84 | 0.71 | 0.85 | 1.19 | 0.90 | 1.50 | 1.44 | 1.79 | 3.09 | 2.72 | 1.42 | 2.36 | 3.75 | 5.47 | 5.31 | 5.65 | 4.12 | 3.98 | 4.28 |
| — | -15.1% | -6.9% | -53.0% | -40.8% | -33.4% | -70.8% | -44.7% | +1.3% | -24.2% | -17.7% | -50.3% | -73.3% | -58.3% | -9.0% | +37.3% | +24.1% | -7.5% | -6.9% | -22.0% | -27.2% | |
| Current Ratio | 3.45 | 3.45 | 3.28 | 3.45 | 3.42 | 3.23 | 3.21 | 3.09 | 3.08 | 3.01 | 2.53 | 2.65 | 2.91 | 2.93 | 2.33 | 2.32 | 2.31 | 2.23 | 2.30 | 2.24 | 2.22 |
| — | +6.9% | +2.4% | +11.7% | +11.1% | +7.4% | +26.9% | +16.5% | +5.8% | +2.5% | +8.5% | +14.4% | +26.0% | +31.7% | +1.3% | +3.4% | +3.8% | +4.4% | +0.8% | -2.9% | -8.3% | |
| Quick Ratio | 3.44 | 3.44 | 3.28 | 3.44 | 3.41 | 3.22 | 3.20 | 3.08 | 3.06 | 3.00 | 2.52 | 2.64 | 2.89 | 2.91 | 2.31 | 2.30 | 2.29 | 2.21 | 2.28 | 2.22 | 2.20 |
| — | +7.0% | +2.4% | +11.7% | +11.2% | +7.4% | +27.0% | +16.6% | +5.9% | +2.8% | +8.8% | +14.7% | +26.2% | +31.7% | +1.4% | +3.5% | +4.1% | +4.5% | +0.9% | -3.2% | -8.8% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying NTES stock.
NetEase, Inc.'s current P/E is 16.1x. The average P/E over the last 4 quarters is 2.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
NetEase, Inc.'s current operating margin is 31.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking NetEase, Inc.'s business trajectory between earnings reports.