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Market Closed -
Hong Kong S.E.
08:08:52 06/11/2026 GMT
|
5-day change | 1st Jan Change | ||
| 200.40 HKD | +0.40% |
|
+13.41% | -6.62% |
| 10-22 | Nomura Adjusts Netease Price Target to $155 From $157, Maintains Buy Rating | MT |
| 10-22 | DeepSeek wrapping up $15 billion fundraising to fuel AI race, sources say | RE |
Company Valuation: NetEase, Inc.
Data adjusted to current consolidation scope
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Market Cap 1 | 417,313 | 314,113 | 398,949 | 412,006 | 610,925 | 546,443 | - | - |
| Change | - | -24.73% | 27.01% | 3.27% | 48.28% | -10.55% | - | - |
| Enterprise Value (EV) 1 | 349,811 | 251,355 | 296,333 | 297,415 | 477,502 | 372,740 | 346,658 | 320,760 |
| Change | - | -28.15% | 17.89% | 0.37% | 60.55% | -21.94% | -7% | -7.47% |
| P/E | 25.6x | 16.4x | 14.1x | 14.2x | 18.4x | 14.3x | 12.3x | 11.2x |
| PBR | 4.48x | 3.16x | 3.3x | 3x | 3.83x | 3x | 2.61x | 2.32x |
| PEG | - | 0.7x | 0.3x | 9.18x | 1.3x | 1x | 0.8x | 1.19x |
| Capitalization / Revenue | 4.76x | 3.26x | 3.86x | 3.91x | 5.42x | 4.53x | 4.21x | 3.96x |
| EV / Revenue | 3.99x | 2.6x | 2.86x | 2.82x | 4.24x | 3.09x | 2.67x | 2.33x |
| EV / EBITDA | 17.8x | 11.2x | 9.63x | 9.29x | 12.5x | 7.67x | 6.68x | 5.67x |
| EV / EBIT | 21.3x | 12.8x | 10.7x | 10.1x | 13.3x | 7.99x | 6.96x | 5.92x |
| EV / FCF | 16x | 10x | 8.97x | 7.93x | 9.8x | 9.19x | 7.29x | 6.18x |
| FCF Yield | 6.24% | 9.97% | 11.1% | 12.6% | 10.2% | 10.9% | 13.7% | 16.2% |
| Dividend per Share 2 | 1.481 | 1.916 | 3.688 | 3.751 | 4.113 | 4.2 | 5.401 | 6.026 |
| Rate of return | 1.15% | 1.89% | 2.89% | 2.88% | 2.13% | 2.46% | 3.16% | 3.53% |
| EPS 2 | 5.01 | 6.17 | 9.05 | 9.19 | 10.48 | 11.97 | 13.9 | 15.21 |
| Distribution rate | 29.6% | 31.1% | 40.8% | 40.8% | 39.2% | 35.1% | 38.8% | 39.6% |
| Net sales 1 | 87,606 | 96,496 | 103,468 | 105,295 | 112,626 | 120,587 | 129,678 | 137,865 |
| EBITDA 1 | 19,693 | 22,487 | 30,764 | 32,002 | 38,082 | 48,617 | 51,890 | 56,550 |
| EBIT 1 | 16,417 | 19,629 | 27,709 | 29,584 | 35,835 | 46,628 | 49,781 | 54,175 |
| Net income 1 | 16,857 | 20,338 | 29,417 | 29,698 | 33,760 | 37,285 | 43,369 | 47,012 |
| Net Debt 1 | -67,502 | -62,758 | -102,617 | -114,592 | -133,423 | -173,702 | -199,785 | -225,683 |
| Reference price 2 | 128.31 | 101.28 | 127.62 | 130.05 | 192.85 | 170.70 | 170.70 | 170.70 |
| Nbr of stocks (in thousands) | 3,252,359 | 3,101,359 | 3,125,972 | 3,167,959 | 3,167,959 | 3,201,251 | - | - |
| Announcement Date | 24/02/22 | 23/02/23 | 29/02/24 | 20/02/25 | 11/02/26 | - | - | - |
1CNY in Million2CNY
Estimates
P/E, Detailed evolution
| P/E (Y) | EV / Sales (Y) | EV / EBITDA (Y) | Dividend Yield (Y) | Capi.($) | ||
|---|---|---|---|---|---|---|
 | 14.19x | 3.07x | 7.61x | 2.47% | 81.82B | |
| 14.34x | 6.71x | 14.58x | 0.31% | 3,496B | |
| 20.78x | 6.07x | 10.9x | 0.35% | 1,560B | |
| 33.43x | 15.55x | 24.61x | 0.53% | 569B | |
| 14.84x | 3.95x | 9.16x | 1.37% | 482B | |
| 18.29x | 5.4x | 16.19x | -.--% | 260B | |
| 20.33x | 1.5x | 10.1x | 1.01% | 272B | |
| 88.82x | 11.69x | 63.93x | -.--% | 192B | |
| 21.66x | 2.46x | 12.54x | -.--% | 140B | |
| 46.49x | 5.41x | 35.7x | -.--% | 124B | |
| Average | 29.32x | 6.18x | 20.53x | 0.6% | 717.61B | |
| Weighted average by Cap. | 20.34x | 6.83x | 15.66x | 0.43% |
Y-o-Y evolution of P/E
Historical PBR trend
Evolution Enterprise Value / Sales
Change in Enterprise Value/EBITDA
Year-on-year evolution of the Yield
- Stock Market
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- 9999 Stock
- Valuation NetEase, Inc.
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