Switch theme
Sign up to access all valuation multiples
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.
2016
1.4K+
LTM Revenue $1.2B
LTM EBITDA $184M
$2.6B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
NetEase Cloud Music has a last 12-month revenue of $1.2B and a last 12-month EBITDA of $184M.
In the most recent fiscal year, NetEase Cloud Music achieved revenue of $1.0B and an EBITDA of $101M.
NetEase Cloud Music expects next 12-month revenue of XXX and NTM EBITDA of XXX
See NetEase Cloud Music valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $1.2B | $1.0B | XXX | XXX | XXX |
| Gross Profit | $18.3M | $166M | XXX | XXX | XXX |
| Gross Margin | 2% | 16% | XXX | XXX | XXX |
| EBITDA | -$23.0M | $101M | XXX | XXX | XXX |
| EBITDA Margin | -2% | 10% | XXX | XXX | XXX |
| Net Profit | -$264M | -$28.5M | XXX | XXX | XXX |
| Net Margin | -23% | -3% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
As of April 15, 2025, NetEase Cloud Music's stock price is HKD 150 (or $19).
NetEase Cloud Music has current market cap of HKD 31.4B (or $4.0B), and EV of HKD 20.5B (or $2.6B).
See NetEase Cloud Music trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2.6B | $4.0B | XXX | XXX | XXX | XXX | $1.05 |
Sign up to access valuation multiples like growth-adjusted P/E, next 12-month EV/Revenue, EBITDA multiples by industry and many more
Sign UpAs of April 15, 2025, NetEase Cloud Music has market cap of $4.0B and EV of $2.6B.
NetEase Cloud Music's trades at 2.4x LTM EV/Revenue multiple, and 15.4x LTM EBITDA.
Analysts estimate NetEase Cloud Music's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for NetEase Cloud Music and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $2.6B | XXX | XXX | XXX |
| EV/Revenue | 2.6x | XXX | XXX | XXX |
| EV/EBITDA | 26.1x | XXX | XXX | XXX |
| P/E | 42.8x | XXX | XXX | XXX |
| P/E/Growth | 0.6x | XXX | XXX | XXX |
| EV/FCF | 111.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpNetEase Cloud Music's NTM/LTM revenue growth is 3%
NetEase Cloud Music's revenue per employee for the last fiscal year averaged $0.7M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, NetEase Cloud Music's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate NetEase Cloud Music's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for NetEase Cloud Music and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -13% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 10% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -540% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 13% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.7M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 10% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 2% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 11% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 22% | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Kartoon Studios | XXX | XXX | XXX | XXX | XXX | XXX |
| Nine Entertainment | XXX | XXX | XXX | XXX | XXX | XXX |
| Seven West Media | XXX | XXX | XXX | XXX | XXX | XXX |
| DouYu | XXX | XXX | XXX | XXX | XXX | XXX |
| Meb Corporation | 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 acquired XXX companies to date.
Last acquisition by NetEase Cloud Music was XXXXXXXX, XXXXX XXXXX XXXXXX . NetEase Cloud Music acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Sign Up| 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 Hong Kong. |
| How many employees does NetEase Cloud Music have? | As of today, NetEase Cloud Music has 1.4K+ employees. |
| Who is the CEO of NetEase Cloud Music? | NetEase Cloud Music's CEO is Mr. Lie William Ding. |
| Is NetEase Cloud Music publicy listed? | Yes, NetEase Cloud Music is a public company listed on HKG. |
| 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? | Similar companies to NetEase Cloud Music include e.g. Kartoon Studios, Nine Entertainment, Seven West Media, DouYu. |
| What is the current market cap of NetEase Cloud Music? | NetEase Cloud Music's current market cap is $4.0B |
| What is the current revenue of NetEase Cloud Music? | NetEase Cloud Music's last 12-month revenue is $1.2B. |
| What is the current EBITDA of NetEase Cloud Music? | NetEase Cloud Music's last 12-month EBITDA is $184M. |
| What is the current EV/Revenue multiple of NetEase Cloud Music? | Current revenue multiple of NetEase Cloud Music is 2.4x. |
| What is the current EV/EBITDA multiple of NetEase Cloud Music? | Current EBITDA multiple of NetEase Cloud Music is 15.4x. |
| What is the current revenue growth of NetEase Cloud Music? | NetEase Cloud Music revenue growth between 2023 and 2024 was -13%. |
| Is NetEase Cloud Music profitable? | Yes, NetEase Cloud Music is EBITDA-positive (as of the last 12 months). |
Get access to always up-to-date, precisely categorized 70K+ public and private valuation multiples, across tech and beyond.
