Financials NetEase, Inc. Börse Stuttgart

Stocks

NEH

US64110W1027

Internet Services

Market Closed - Börse Stuttgart Other stock markets 23:46:10 07/08/2026 +04			5-day change	1st Jan Change
113.00 ^EUR	+0.89%		-1.74%	-5.83%

08-05	Mattel maintains annual forecasts, misses quarterly profit estimate as higher costs squeeze margins	RE
08-05	Mattel reiterates annual forecasts, misses quarterly profit estimate on higher costs	RE

Projected Income Statement: NetEase, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	87,606	96,496	103,468	105,295	112,626	120,854	130,212	140,247
Change	-	10.15%	7.23%	1.77%	6.96%	7.31%	7.74%	7.71%
EBITDA ¹	19,693	22,487	30,764	32,002	38,082	46,576	49,870	54,678
Change	-	14.19%	36.81%	4.02%	19%	22.3%	7.07%	9.64%
EBIT ¹	16,417	19,629	27,709	29,584	35,835	43,657	47,402	52,032
Change	-	19.56%	41.17%	6.77%	21.13%	21.83%	8.58%	9.77%
Interest Paid ¹	-1,520	-2,150	-4,120	-	-	-3,891	-4,316	-5,144
Earnings before Tax (EBT) ¹	21,104	24,250	34,057	35,718	40,830	48,259	52,460	56,877
Change	-	14.91%	40.44%	4.88%	14.31%	18.19%	8.71%	8.42%
Net income ¹	16,857	20,338	29,417	29,698	33,760	39,363	43,118	46,960
Change	-	20.65%	44.64%	0.96%	13.68%	16.6%	9.54%	8.91%
Announcement Date	24/02/22	23/02/23	29/02/24	20/02/25	11/02/26	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	20,525	22,191	24,374	23,556	23,159	24,427	25,354	25,046	24,011	27,270	27,140	26,852	25,486	26,210	26,748	28,829	27,892	28,359	27,547	30,591	29,468	30,614	30,389	32,186	32,692	33,222	32,484	36,139
Change	-	8.12%	9.84%	-3.35%	-1.68%	5.47%	3.8%	-1.21%	-4.13%	13.57%	-0.48%	-1.06%	-5.09%	2.84%	2.05%	7.78%	-3.25%	1.67%	-2.86%	11.05%	-3.67%	3.89%	-0.73%	5.91%	1.57%	1.62%	-2.22%	11.25%
EBITDA ¹	4,572	4,581	5,444	6,273	5,555	5,456	5,203	8,302	6,724	8,210	7,528	8,190	7,625	7,667	8,519	10,922	9,490	8,631	9,040	-	10,981	11,255	10,981	11,420	-	-	-	-
Change	-	0.18%	18.85%	15.23%	-11.44%	-1.8%	-4.64%	59.58%	-19.01%	22.1%	-8.3%	8.8%	-6.9%	0.55%	11.11%	28.21%	-13.11%	-9.04%	4.73%	-	-	2.5%	-2.43%	4%	-	-	-	-
EBIT ¹	3,758	3,775	4,608	5,507	4,946	4,742	4,433	7,220	6,063	7,558	6,868	7,622	6,993	7,147	7,821	10,441	9,061	8,013	8,319	12,657	11,025	10,595	10,711	-	-	-	-	-
Change	-	0.45%	22.06%	19.51%	-10.18%	-4.14%	-6.5%	62.85%	-16.03%	24.66%	-9.12%	10.98%	-8.25%	2.19%	9.44%	33.49%	-13.22%	-11.56%	3.81%	52.14%	-12.89%	-3.9%	1.1%	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-935.6	-	-	-	-	1,283	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	4,590	4,131	6,597	5,535	5,731	8,208	4,776	8,339	8,872	9,101	7,745	9,288	8,130	7,996	10,304	12,452	10,649	10,109	7,620	13,369	11,819	11,632	11,740	12,471	-	-	-	-
Change	-	-9.99%	59.68%	-16.09%	3.55%	43.21%	-41.81%	74.59%	6.39%	2.59%	-14.9%	19.93%	-12.48%	-1.64%	28.86%	20.85%	-14.48%	-5.07%	-24.62%	75.44%	-11.6%	-1.59%	0.93%	6.22%	-	-	-	-
Net income ¹	3,542	3,182	5,694	4,394	5,291	6,699	3,953	6,755	8,243	7,837	6,582	7,634	6,759	6,538	8,766	10,301	8,601	8,616	6,242	10,674	9,713	9,774	9,697	-	-	-	-	-
Change	-	-10.16%	78.96%	-22.83%	20.42%	26.61%	-41%	70.88%	22.03%	-4.92%	-16.01%	15.98%	-11.46%	-3.26%	34.08%	17.51%	-16.5%	0.17%	-27.55%	71.01%	-9%	0.63%	-0.79%	-	-	-	-	-
Announcement Date	31/08/21	16/11/21	24/02/22	24/05/22	18/08/22	17/11/22	23/02/23	25/05/23	24/08/23	16/11/23	29/02/24	23/05/24	22/08/24	14/11/24	20/02/25	15/05/25	14/08/25	20/11/25	11/02/26	21/05/26	-	-	-	-	-	-	-	-

¹CNY in Million

Estimates

Forecast Balance Sheet: NetEase, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-67,502	-62,758	-102,617	-114,592	-133,423	-176,561	-202,115	-227,510
Change	-	7.03%	-63.51%	-11.67%	-16.43%	-32.33%	-14.47%	-12.56%
Announcement Date	24/02/22	23/02/23	29/02/24	20/02/25	11/02/26	-	-	-

¹CNY in Million

Estimates

Cash Flow Forecast: NetEase, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	3,038	2,602	4,266	2,192	2,007	2,068	2,396	2,675
Change	-	-14.36%	63.93%	-48.62%	-8.45%	3.06%	15.84%	11.66%
Free Cash Flow (FCF) ¹	21,817	25,066	33,030	37,485	48,733	45,417	45,416	55,387
Change	-	14.89%	31.77%	13.49%	30.01%	-6.8%	-0%	21.96%
Announcement Date	24/02/22	23/02/23	29/02/24	20/02/25	11/02/26	-	-	-

¹CNY in Million

Estimates

Forecast Financial Ratios: NetEase, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	22.48%	23.3%	29.73%	30.39%	33.81%	38.54%	38.3%	38.99%
EBIT Margin (%)	18.74%	20.34%	26.78%	28.1%	31.82%	36.12%	36.4%	37.1%
EBT Margin (%)	24.09%	25.13%	32.92%	33.92%	36.25%	39.93%	40.29%	40.55%
Net margin (%)	19.24%	21.08%	28.43%	28.2%	29.98%	32.57%	33.11%	33.48%
FCF margin (%)	24.9%	25.98%	31.92%	35.6%	43.27%	37.58%	34.88%	39.49%
FCF / Net Income (%)	129.42%	123.25%	112.28%	126.22%	144.35%	115.38%	105.33%	117.95%
Profitability
ROA	11.41%	12.46%	16.4%	15.55%	16.18%	17.1%	16.5%	16.21%
ROE	19%	20.33%	25.69%	22.59%	22.58%	23.03%	22.04%	21.52%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	3.47%	2.7%	4.12%	2.08%	1.78%	1.71%	1.84%	1.91%
CAPEX / EBITDA (%)	15.43%	11.57%	13.87%	6.85%	5.27%	4.44%	4.8%	4.89%
CAPEX / FCF (%)	13.93%	10.38%	12.91%	5.85%	4.12%	4.55%	5.27%	4.83%
Items per share
Cash flow per share ¹	7.402	8.407	10.86	12.28	15.77	13.6	14.7	17.07
Change	-	13.57%	29.23%	13.04%	28.38%	-13.75%	8.12%	16.06%
Dividend per Share ¹	1.481	1.916	3.688	3.751	4.113	4.357	5.456	6.201
Change	-	29.38%	92.48%	1.72%	9.63%	5.93%	25.23%	13.65%
Book Value Per Share ¹	28.66	32.09	38.64	43.33	50.31	57.98	65.98	74.13
Change	-	11.97%	20.4%	12.14%	16.09%	15.26%	13.81%	12.34%
EPS ¹	5.01	6.17	9.05	9.19	10.48	12.32	13.57	14.99
Change	-	23.15%	46.68%	1.55%	14.04%	17.6%	10.09%	10.5%
Nbr of stocks (in thousands)	3,252,359	3,101,359	3,125,972	3,167,959	3,167,959	3,201,251	3,201,251	3,201,251
Announcement Date	24/02/22	23/02/23	29/02/24	20/02/25	11/02/26	-	-	-