Switch theme
Sign up to access all valuation multiples
Founded in the late 1990s as an internet portal, NetEase has transformed into a leading force in the second-largest online game company gaming in China. While its initial success was built upon the massively multiplayer online role-playing game Fantasy Westward Journey, NetEase has expanded its portfolio with captivating franchises that resonate with both domestic and international players. Over the past decade, the company has created titles such as Justice, Identity V, Naraka: Bladepoint, and Eggy Party, all of which maintain significant player bases today. Beyond in-house development, the company also collaborates with likes of Microsoft and Marvel to create and publish games based on renowned IPs, including World of Warcraft, Diablo Immortal, and Marvel Rivals.
1999
31.1K+
LTM Revenue $15.0B
LTM EBITDA $4.8B
$59.0B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
NetEase has a last 12-month revenue (LTM) of $15.0B and a last 12-month EBITDA of $4.8B.
In the most recent fiscal year, NetEase achieved revenue of $13.4B and an EBITDA of $4.1B.
NetEase expects next 12-month revenue of XXX and NTM EBITDA of XXX
See NetEase valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $15.0B | XXX | $13.4B | XXX | XXX | XXX |
| Gross Profit | $9.4B | XXX | $8.4B | XXX | XXX | XXX |
| Gross Margin | 63% | XXX | 62% | XXX | XXX | XXX |
| EBITDA | $4.8B | XXX | $4.1B | XXX | XXX | XXX |
| EBITDA Margin | 32% | XXX | 30% | XXX | XXX | XXX |
| EBIT | $4.5B | XXX | $3.8B | XXX | XXX | XXX |
| EBIT Margin | 30% | XXX | 28% | XXX | XXX | XXX |
| Net Profit | $4.4B | XXX | $3.8B | XXX | XXX | XXX |
| Net Margin | 29% | XXX | 28% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
As of May 30, 2025, NetEase's stock price is HKD 191 (or $24).
NetEase has current market cap of HKD 604B (or $77.1B), and EV of HKD 462B (or $59.0B).
See NetEase trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $59.0B | $77.1B | XXX | XXX | XXX | XXX | $1.52 |
Sign up to access valuation multiples like growth-adjusted P/E, next 12-month EV/Revenue, EBITDA multiples by industry and many more
Start Free TrialAs of May 30, 2025, NetEase has market cap of $77.1B and EV of $59.0B.
NetEase's trades at 4.4x EV/Revenue multiple, and 14.4x EV/EBITDA.
Equity research analysts estimate NetEase's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
NetEase has a P/E ratio of 17.5x.
See valuation multiples for NetEase and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $77.1B | XXX | $77.1B | XXX | XXX | XXX |
| EV (current) | $59.0B | XXX | $59.0B | XXX | XXX | XXX |
| EV/Revenue | 3.9x | XXX | 4.4x | XXX | XXX | XXX |
| EV/EBITDA | 12.4x | XXX | 14.4x | XXX | XXX | XXX |
| EV/EBIT | 13.1x | XXX | 15.6x | XXX | XXX | XXX |
| EV/Gross Profit | 6.3x | XXX | n/a | XXX | XXX | XXX |
| P/E | 17.5x | XXX | 20.3x | XXX | XXX | XXX |
| EV/FCF | 12.0x | XXX | 12.3x | 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.
Start Free TrialNetEase's last 12 month revenue growth is 9%
NetEase's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.
NetEase's rule of 40 is 38% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
NetEase's rule of X is 53% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for NetEase and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 9% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Margin | 32% | XXX | 30% | XXX | XXX | XXX |
| EBITDA Growth | 13% | XXX | 16% | XXX | XXX | XXX |
| Rule of 40 | 38% | XXX | 39% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 53% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 13% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 17% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 34% | 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 | |
| Azerion Group | XXX | XXX | XXX | XXX | XXX | XXX |
| PlaySide Studios | XXX | XXX | XXX | XXX | XXX | XXX |
| OnMobile | XXX | XXX | XXX | XXX | XXX | XXX |
| Nazara Technologies | XXX | XXX | XXX | XXX | XXX | XXX |
| Trophy Games | 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 acquired XXX companies to date.
Last acquisition by NetEase was XXXXXXXX, XXXXX XXXXX XXXXXX . NetEase 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.
Start Free Trial| When was NetEase founded? | NetEase was founded in 1999. |
| Where is NetEase headquartered? | NetEase is headquartered in Hong Kong. |
| How many employees does NetEase have? | As of today, NetEase has 31.1K+ employees. |
| Who is the CEO of NetEase? | NetEase's CEO is Mr. Lie William Ding. |
| Is NetEase publicy listed? | Yes, NetEase is a public company listed on HKG. |
| What is the stock symbol of NetEase? | NetEase trades under 09999 ticker. |
| When did NetEase go public? | NetEase went public in 2020. |
| Who are competitors of NetEase? | Similar companies to NetEase include e.g. Azerion Group, PlaySide Studios, OnMobile, Nazara Technologies. |
| What is the current market cap of NetEase? | NetEase's current market cap is $77.1B |
| What is the current revenue of NetEase? | NetEase's last 12 months revenue is $15.0B. |
| What is the current revenue growth of NetEase? | NetEase revenue growth (NTM/LTM) is 9%. |
| What is the current EV/Revenue multiple of NetEase? | Current revenue multiple of NetEase is 3.9x. |
| Is NetEase profitable? | Yes, NetEase is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of NetEase? | NetEase's last 12 months EBITDA is $4.8B. |
| What is NetEase's EBITDA margin? | NetEase's last 12 months EBITDA margin is 32%. |
| What is the current EV/EBITDA multiple of NetEase? | Current EBITDA multiple of NetEase is 12.4x. |
| What is the current FCF of NetEase? | NetEase's last 12 months FCF is $4.9B. |
| What is NetEase's FCF margin? | NetEase's last 12 months FCF margin is 33%. |
| What is the current EV/FCF multiple of NetEase? | Current FCF multiple of NetEase is 12.0x. |
Get access to always up-to-date, precisely categorized 70K+ public and private valuation multiples, across tech and beyond.
