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NetEase Cloud Music Valuation Multiples
Discover revenue and EBITDA valuation multiples for NetEase Cloud Music and similar public comparables like MNC Digital Entertainment, MBC Group, Skyworth Digital, SM Entertainment and more.
NetEase Cloud Music Overview
About NetEase Cloud Music
Cloud Music is the second-largest online music service provider in China, founded in 2013 by NetEase. NetEase currently holds approximately 58% of Cloud Music’s equity stake and controls 90% of its voting power. The platform’s business model is similar to its main competitor, Tencent Music, as both offer music streaming services along with social entertainment features like live streaming to engage users and drive additional revenue.
Founded
2016
HQ
Employees
1.3K
Website
Sectors
Financials (LTM)
EV
$2B
NetEase Cloud Music Financials
NetEase Cloud Music reported last 12-month revenue of $1B and EBITDA of $253M.
In the same LTM period, NetEase Cloud Music generated $418M in gross profit, $253M in EBITDA, and $369M in net income.
Revenue (LTM)
NetEase Cloud Music P&L
In the most recent fiscal year, NetEase Cloud Music reported revenue of $1B and EBITDA of $305M.
NetEase Cloud Music expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $1B | XXX | $1B | XXX | XXX | XXX |
| Gross Profit | $418M | XXX | $406M | XXX | XXX | XXX |
| Gross Margin | 36% | XXX | 36% | XXX | XXX | XXX |
| EBITDA | $253M | XXX | $305M | XXX | XXX | XXX |
| EBITDA Margin | 22% | XXX | 27% | XXX | XXX | XXX |
| EBIT Margin | 22% | XXX | 21% | XXX | XXX | XXX |
| Net Profit | $369M | XXX | $403M | XXX | XXX | XXX |
| Net Margin | 32% | XXX | 35% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
NetEase Cloud Music Stock Performance
NetEase Cloud Music has current market cap of $3B, and enterprise value of $2B.
Market Cap Evolution
NetEase Cloud Music's stock price is $15.98.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2B | $3B | 0.0% | XXX | XXX | XXX | $1.95 |
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Start Free TrialNetEase Cloud Music Valuation Multiples
NetEase Cloud Music trades at 1.3x EV/Revenue multiple, and 6.0x EV/EBITDA.
EV / Revenue (LTM)
NetEase Cloud Music Financial Valuation Multiples
As of April 19, 2026, NetEase Cloud Music has market cap of $3B and EV of $2B.
Equity research analysts estimate NetEase Cloud Music's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
NetEase Cloud Music has a P/E ratio of 9.0x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV/Revenue | 1.3x | XXX | 1.3x | XXX | XXX | XXX |
| EV/EBITDA | 6.0x | XXX | 5.0x | XXX | XXX | XXX |
| EV/EBIT | 6.0x | XXX | 6.3x | XXX | XXX | XXX |
| EV/Gross Profit | 3.6x | XXX | 3.7x | XXX | XXX | XXX |
| P/E | 9.0x | XXX | 8.2x | XXX | XXX | XXX |
| EV/FCF | 6.9x | XXX | 6.5x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified NetEase Cloud Music Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
NetEase Cloud Music Margins & Growth Rates
NetEase Cloud Music's revenue in the last 12 month grew by 9%.
NetEase Cloud Music's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.1M for the same period.
NetEase Cloud Music's rule of 40 is 31% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
NetEase Cloud Music's rule of X is 45% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
NetEase Cloud Music Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 9% | XXX | 9% | XXX | XXX | XXX |
| EBITDA Margin | 22% | XXX | 27% | XXX | XXX | XXX |
| EBITDA Growth | 15% | XXX | (9%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 31% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 45% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.9M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 5% | XXX | 5% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 10% | XXX | 10% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 15% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
NetEase Cloud Music Public Comps
See public comps and valuation multiples for other Music and Streaming comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| NetEase Cloud Music | XXX | XXX | XXX | XXX | XXX | XXX |
| MNC Digital Entertainment | XXX | XXX | XXX | XXX | XXX | XXX |
| MBC Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Skyworth Digital | XXX | XXX | XXX | XXX | XXX | XXX |
| SM Entertainment | XXX | XXX | XXX | XXX | XXX | XXX |
| JYP Entertainment | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
NetEase Cloud Music M&A Activity
NetEase Cloud Music acquired XXX companies to date.
Last acquisition by NetEase Cloud Music was on XXXXXXXX, XXXXX. NetEase Cloud Music acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by NetEase Cloud Music
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialNetEase Cloud Music Investment Activity
NetEase Cloud Music invested in XXX companies to date.
NetEase Cloud Music made its latest investment on XXXXXXXX, XXXXX. NetEase Cloud Music invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by NetEase Cloud Music
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout NetEase Cloud Music
| When was NetEase Cloud Music founded? | NetEase Cloud Music was founded in 2016. |
| Where is NetEase Cloud Music headquartered? | NetEase Cloud Music is headquartered in China. |
| How many employees does NetEase Cloud Music have? | As of today, NetEase Cloud Music has over 1K employees. |
| Who is the CEO of NetEase Cloud Music? | NetEase Cloud Music's CEO is Lie William Ding. |
| Is NetEase Cloud Music publicly listed? | Yes, NetEase Cloud Music is a public company listed on HKEX. |
| What is the stock symbol of NetEase Cloud Music? | NetEase Cloud Music trades under 09899 ticker. |
| When did NetEase Cloud Music go public? | NetEase Cloud Music went public in 2021. |
| Who are competitors of NetEase Cloud Music? | NetEase Cloud Music main competitors are MNC Digital Entertainment, MBC Group, Skyworth Digital, SM Entertainment. |
| What is the current market cap of NetEase Cloud Music? | NetEase Cloud Music's current market cap is $3B. |
| What is the current revenue of NetEase Cloud Music? | NetEase Cloud Music's last 12 months revenue is $1B. |
| What is the current revenue growth of NetEase Cloud Music? | NetEase Cloud Music revenue growth (NTM/LTM) is 9%. |
| What is the current EV/Revenue multiple of NetEase Cloud Music? | Current revenue multiple of NetEase Cloud Music is 1.3x. |
| Is NetEase Cloud Music profitable? | Yes, NetEase Cloud Music is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of NetEase Cloud Music? | NetEase Cloud Music's last 12 months EBITDA is $253M. |
| What is NetEase Cloud Music's EBITDA margin? | NetEase Cloud Music's last 12 months EBITDA margin is 22%. |
| What is the current EV/EBITDA multiple of NetEase Cloud Music? | Current EBITDA multiple of NetEase Cloud Music is 6.0x. |
| What is the current FCF of NetEase Cloud Music? | NetEase Cloud Music's last 12 months FCF is $221M. |
| What is NetEase Cloud Music's FCF margin? | NetEase Cloud Music's last 12 months FCF margin is 19%. |
| What is the current EV/FCF multiple of NetEase Cloud Music? | Current FCF multiple of NetEase Cloud Music is 6.9x. |
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