NetEase, Inc. (NETTF) cash flow statement

NETTFOTCServices-Prepackaged SoftwareAlso trades as NTES

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 15, 2026Score 8/30

$21.54+0.00 (0.00%)

Close on Oct 19, 2026Market cap $72.55BP/E 14.5Yield –

NetEase, Inc. cash flow statement

AnnualQuarterlyTTM

CNY USD

Millions of CNY, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31	FY 2012 2012-12-31	FY 2011 2011-12-31	FY 2010 2010-12-31	FY 2009 2009-12-31	FY 2008 2008-12-31
Depreciation & Amortization	2,247	2,418	3,055	2,858	3,276	3,458	2,614	2,060	792	328	182	174	158	234	293	232	144	91
Stock-Based Compensation	3,648	3,883	3,243	3,174	3,041	2,663	2,404	2,472	1,985	990	684	349	306	203	122	102	31	68
Deferred Income Taxes	-1,254	321	131	490	408	88	151	-71	-438	67	-147	-117	142	-32	-42	8.62	-43	47
Other Non-Cash Items	–	–	–	–	–	–	–	–	–	–	–	–	-12	-22	13	–	-0.01	0.02
Change in Accounts Receivable	264	716	-1,470	554	-1,187	-530	-11	-613	596	-1,647	-1,744	-474	-131	-70	11	-90	-7.14	-86
Change in Inventory	-118	124	297	-28	-344	30	415	-81	-755	-760	-790	-8.21	1.92	–	–	–	–	–
Change in Accounts Payable	-72	91	-559	448	-155	-86	13	112	117	604	243	190	71	43	23	-38	154	46
Change in Unearned Revenue	5,435	2,022	1,162	385	1,351	2,343	884	1,758	-1,376	2,879	2,684	487	321	146	240	190	136	93
Operating Cash Flow	50,740	39,677	35,331	27,709	24,927	24,888	17,216	13,416	11,889	15,488	8,077	5,873	5,236	4,224	4,073	2,855	2,094	2,018
Capital Expenditures	-1,065	-1,275	-2,302	-2,100	-1,602	-1,056	-1,209	-2,169	-1,654	-1,136	-866	-537	-219	-179	-410	-298	-408	-133
Sale of Property, Plant & Equipment	46	15	10	41	72	18	61	6.69	4.43	2.06	1.29	1.46	4.52	0.78	0.26	0.36	0.12	0.28
Divestitures	–	–	–	–	–	–	9,031	-1,890	-3,296	–	–	–	–	–	–	–	–	–
Purchase of Investments	-21,640	-8,235	–	-5,950	-15,285	-19,905	-22,370	-13,393	-12,491	-12,439	-5,687	-2,358	-400	-1,110	-2,002	–	–	–
Other Investing Activities	–	–	–	–	–	–	–	–	-224	-173	-127	-92	-25	-45	-17	-9.22	-2.83	-5.34
Investing Cash Flow	-33,181	17,916	-17,043	-7,370	-7,078	-29,192	-22,137	-13,570	-12,855	-11,861	-2,537	-4,520	-5,453	-4,454	-3,208	-2,621	-1,908	-3,409
Dividends Paid	-13,826	-11,165	-8,014	-6,724	-3,508	-4,280	-8,841	-1,440	-3,258	-2,546	-1,468	-1,983	-815	–	–	–	–	–
Share Repurchases	–	–	–	–	–	–	–	-7,517	-2,062	-1,199	-132	–	-107	-415	–	–	–	-166
Stock Issued	–	–	–	–	–	21,912	–	–	–	–	–	–	–	–	–	–	–	–
Debt Issued	–	–	–	–	4,448	1,136	730	–	–	–	–	–	–	–	–	–	–	–
Other Financing Activities	–	–	–	–	–	–	–	–	–	–	–	–	–	–	-0.02	–	–	-10
Financing Cash Flow	-20,160	-27,336	-21,467	-10,238	-12,586	9,913	1,083	1,587	-1,303	-2,251	-1,633	-778	87	-390	74	24	41	-157
Foreign Exchange Rate Adjustments	-382	11	-202	110	-55	162	29	82	-13	132	142	–	–	–	–	-14	20	-141
Net Change in Cash	-2,984	30,268	-3,382	10,212	5,208	5,771	-3,809	1,515	-2,282	1,509	4,050	563	-132	–	–	244	248	-1,689
Free Cash Flow	49,674	38,401	33,030	25,609	23,325	23,833	16,007	11,246	10,235	14,353	7,211	5,336	5,017	4,046	3,663	2,557	1,687	1,884
Income Taxes Paid	6,427	5,190	4,896	5,092	3,547	2,046	3,194	2,003	2,706	1,097	1,124	551	687	684	371	252	294	250
Interest Paid	388	490	780	588	188	246	431	302	85	31	–	–	–	–	–	–	–	–

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Dec 31, 2025

Profitability, FY2025

Gross margin: 64.3%
Operating margin: 31.8%
Net margin: –
Return on equity, FY2025: –

Financial strength

Current ratio: 3.45
Debt to equity: –
Debt to assets: –
Cash to current liabilities: 90.1%

Valuation

P/E ratio: 14.5
Price to sales: 4.30
Price to book: 3.02
Dividend yield: –