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Market Closed -
Hong Kong S.E.
11:08:07 26/10/2026 +03
|
5-day change | 1st Jan Change | ||
| 184.90 HKD | +1.04% |
|
-6.47% | -13.84% |
| 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 | 503,416 | - | - |
| Change | - | -24.73% | 27.01% | 3.27% | 48.28% | -17.6% | - | - |
| Enterprise Value (EV) 1 | 349,811 | 251,355 | 296,333 | 297,415 | 477,502 | 329,714 | 303,631 | 277,733 |
| Change | - | -28.15% | 17.89% | 0.37% | 60.55% | -30.95% | -7.91% | -8.53% |
| P/E | 25.6x | 16.4x | 14.1x | 14.2x | 18.4x | 13.1x | 11.3x | 10.3x |
| PBR | 4.48x | 3.16x | 3.3x | 3x | 3.83x | 2.76x | 2.41x | 2.14x |
| PEG | - | 0.7x | 0.3x | 9.18x | 1.3x | 0.9x | 0.7x | 1.1x |
| Capitalization / Revenue | 4.76x | 3.26x | 3.86x | 3.91x | 5.42x | 4.17x | 3.88x | 3.65x |
| EV / Revenue | 3.99x | 2.6x | 2.86x | 2.82x | 4.24x | 2.73x | 2.34x | 2.01x |
| EV / EBITDA | 17.8x | 11.2x | 9.63x | 9.29x | 12.5x | 6.78x | 5.85x | 4.91x |
| EV / EBIT | 21.3x | 12.8x | 10.7x | 10.1x | 13.3x | 7.09x | 6.09x | 5.12x |
| EV / FCF | 16x | 10x | 8.97x | 7.93x | 9.8x | 8.13x | 6.38x | 5.35x |
| FCF Yield | 6.24% | 9.97% | 11.1% | 12.6% | 10.2% | 12.3% | 15.7% | 18.7% |
| 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% | 2.67% | 3.43% | 3.83% |
| 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 | 46,490 | 49,827 | 54,232 |
| 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 | 157.26 | 157.26 | 157.26 |
| 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 | 2/24/22 A | 2/23/23 A | 2/29/24 A | 2/20/25 A | 2/11/26 A | - | - | - |
1CNY in Million2CNY
Estimates
P/E, Detailed evolution
| P/E (N) | EV / Sales (N) | EV / EBITDA (N) | Dividend Yield (N) | Capi.($) | ||
|---|---|---|---|---|---|---|
 | 13.01x | 2.69x | 6.68x | 2.7% | 74.7B | |
| 15.55x | 7.54x | 16.11x | 0.27% | 3,900B | |
| 22.01x | 6.45x | 11.53x | 0.33% | 1,643B | |
| 31.88x | 14.91x | 23.56x | 0.56% | 546B | |
| 13.31x | 3.54x | 8.19x | 1.53% | 443B | |
| 18.39x | 5.43x | 16.26x | -.--% | 270B | |
| 18.82x | 1.37x | 9.26x | 1.09% | 248B | |
| 104.22x | 13.84x | 74.33x | -.--% | 217B | |
| 21.01x | 2.39x | 12.17x | -.--% | 136B | |
| 44.07x | 5.13x | 33.77x | -.--% | 120B | |
| Average | 30.23x | 6.33x | 21.19x | 0.65% | 759.78B | |
| Weighted average by Cap. | 21.25x | 7.33x | 16.76x | 0.4% |
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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