Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of NetEase.
Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $105.30B | $103.47B | $96.50B | $87.61B | $73.67B | $59.24B | $67.16B | $54.10B | $38.18B | $22.80B |
| Cost of Revenue | $39.49B | $40.40B | $43.73B | $40.64B | $34.68B | $27.69B | $38.75B | $28.19B | $16.52B | $9.40B |
| Gross Profit | $65.81B | $63.06B | $52.77B | $46.97B | $38.98B | $31.56B | $28.40B | $25.91B | $21.66B | $13.40B |
| Gross Profit Ratio | 62.50% | 60.90% | 54.68% | 53.60% | 52.92% | 53.27% | 42.29% | 47.90% | 56.74% | 58.78% |
| Research and Development Expenses | $17.52B | $16.48B | $15.04B | $14.08B | $10.37B | $8.41B | $7.79B | $4.37B | $3.05B | $2.16B |
| General and Administrative Expenses | $4.55B | $4.90B | $4.70B | $4.26B | $3.37B | $3.13B | $3.19B | $2.43B | $1.51B | $1.01B |
| Selling and Marketing Expenses | $14.15B | $13.97B | $13.40B | $12.21B | $10.70B | $6.22B | $9.53B | $6.96B | $4.48B | $2.96B |
| Selling General and Administrative Expenses | $18.70B | $18.87B | $18.10B | $16.48B | $14.08B | $9.35B | $12.72B | $9.39B | $5.99B | $3.97B |
| Other Expenses | $- | $- | $846.82M | $710.43M | $737.17M | $439.42M | $599.23M | $277.08M | $377.69M | $45.14M |
| Operating Expenses | $36.22B | $35.35B | $33.14B | $30.55B | $24.44B | $17.76B | $20.51B | $13.76B | $9.03B | $6.13B |
| Cost and Expenses | $75.71B | $75.76B | $76.87B | $71.19B | $59.13B | $45.45B | $59.26B | $41.95B | $25.55B | $15.53B |
| Interest Income | $- | $4.12B | $2.15B | $1.52B | $1.60B | $821.77M | $587.52M | $667.32M | $541.97M | $596.93M |
| Interest Expense | $- | $- | $2.15B | $- | $- | $- | $587.52M | $667.32M | $541.97M | $596.93M |
| Depreciation and Amortization | $2.42B | $3.06B | $2.86B | $3.28B | $3.46B | $2.61B | $2.08B | $801.80M | $327.51M | $182.45M |
| EBITDA | $32.00B | $30.76B | $22.49B | $19.69B | $18.00B | $16.40B | $12.04B | $13.79B | $12.96B | $7.45B |
| EBITDA Ratio | 30.39% | 29.73% | 21.62% | 19.67% | 26.47% | 25.44% | 15.06% | 24.11% | 33.03% | 31.83% |
| Operating Income | $29.58B | $27.71B | $19.63B | $16.42B | $14.54B | $13.79B | $7.89B | $12.15B | $12.63B | $7.27B |
| Operating Income Ratio | 28.10% | 26.78% | 20.34% | 18.74% | 19.74% | 23.28% | 11.75% | 22.46% | 33.08% | 31.89% |
| Total Other Income Expenses Net | $6.13B | $6.35B | $4.62B | $4.69B | $833.68M | $2.59B | $3.18B | $1.69B | $1.27B | $838.18M |
| Income Before Tax | $35.72B | $34.06B | $24.25B | $21.10B | $15.37B | $16.38B | $8.94B | $13.01B | $13.90B | $8.11B |
| Income Before Tax Ratio | 33.92% | 32.92% | 25.13% | 24.09% | 20.87% | 27.66% | 13.32% | 24.05% | 36.40% | 35.57% |
| Income Tax Expense | $5.46B | $4.70B | $5.03B | $4.13B | $3.04B | $2.91B | $2.47B | $2.16B | $2.10B | $1.27B |
| Net Income | $29.70B | $29.42B | $20.34B | $16.86B | $12.06B | $13.47B | $6.15B | $10.71B | $11.60B | $6.74B |
| Net Income Ratio | 28.20% | 28.43% | 21.08% | 19.24% | 16.37% | 22.74% | 9.16% | 19.79% | 30.40% | 29.54% |
| EPS | $9.19 | $9.05 | $6.11 | $5.07 | $3.65 | $4.18 | $1.90 | $3.25 | $3.54 | $2.05 |
| EPS Diluted | $9.19 | $9.05 | $6.04 | $5.01 | $3.60 | $4.14 | $1.89 | $3.23 | $3.51 | $2.04 |
| Weighted Average Shares Outstanding | 3.23B | 3.25B | 3.26B | 3.33B | 3.31B | 3.22B | 3.24B | 3.29B | 3.28B | 3.28B |
| Weighted Average Shares Outstanding Diluted | 3.23B | 3.25B | 3.37B | 3.37B | 3.35B | 3.25B | 3.25B | 3.32B | 3.31B | 3.31B |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $51.38B | $21.43B | $24.89B | $14.50B | $9.12B | $3.25B | $5.39B | $2.76B | $5.44B | $6.07B |
| Short Term Investments | $86.20B | $105.29B | $92.57B | $83.04B | $84.35B | $68.80B | $44.58B | $40.35B | $30.94B | $19.61B |
| Cash and Short Term Investments | $137.58B | $126.72B | $117.46B | $97.53B | $93.47B | $72.05B | $49.96B | $43.11B | $36.38B | $25.68B |
| Net Receivables | $5.67B | $9.23B | $5.00B | $5.51B | $4.58B | $4.17B | $4.53B | $4.07B | $4.57B | $2.91B |
| Inventory | $571.55M | $695.37M | $993.64M | $964.73M | $621.21M | $650.56M | $5.02B | $5.47B | $1.58B | $817.76M |
| Other Current Assets | $9.50B | $6.04B | $11.96B | $13.58B | $13.06B | $12.38B | $13.56B | $9.29B | $6.85B | $5.01B |
| Total Current Assets | $153.32B | $142.69B | $131.60B | $113.12B | $107.83B | $85.11B | $68.72B | $61.95B | $49.92B | $34.41B |
| Property Plant Equipment Net | $8.52B | $8.82B | $6.34B | $5.43B | $4.56B | $4.62B | $5.38B | $3.77B | $2.42B | $2.09B |
| Goodwill | $- | $1.86B | $2.17B | $595.28M | $318.94M | $- | $- | $- | $- | $- |
| Intangible Assets | $4.17B | $5.96B | $4.12B | $4.11B | $4.18B | $3.71B | $3.50B | $593.28M | $588.89M | $238.88M |
| Goodwill and Intangible Assets | $4.17B | $7.82B | $4.12B | $4.11B | $4.18B | $3.71B | $3.50B | $593.28M | $588.89M | $238.88M |
| Long Term Investments | $3.02B | $22.83B | $2.97B | $5.82B | $6.63B | $2.36B | $100.00M | $100.00M | $550.00M | $1.11B |
| Tax Assets | $- | $- | $1.48B | $1.30B | $1.09B | $903.90M | $1.06B | $823.50M | $23.98M | $24.68M |
| Other Non-Current Assets | $26.95B | $3.76B | $26.24B | $23.86B | $17.59B | $15.43B | $8.21B | $3.80B | $4.53B | $3.28B |
| Total Non-Current Assets | $42.67B | $43.23B | $41.16B | $40.52B | $34.04B | $27.02B | $18.25B | $9.08B | $8.11B | $6.75B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $195.99B | $185.92B | $172.76B | $153.64B | $141.87B | $112.12B | $86.97B | $71.03B | $58.03B | $41.16B |
| Account Payables | $720.55M | $881.02M | $1.51B | $985.06M | $1.13B | $1.21B | $1.20B | $2.44B | $1.57B | $856.22M |
| Short Term Debt | $11.81B | $19.50B | $24.13B | $19.69B | $19.84B | $17.02B | $13.66B | $6.62B | $3.82B | $2.27B |
| Tax Payables | $- | $2.57B | $2.81B | $4.54B | $4.28B | $3.16B | $2.27B | $1.56B | $1.72B | $736.21M |
| Deferred Revenue | $- | $16.99B | $12.52B | $12.13B | $10.95B | $8.60B | $7.95B | $6.24B | $7.53B | $4.65B |
| Other Current Liabilities | $37.14B | $13.90B | $28.37B | $25.29B | $9.18B | $6.71B | $8.89B | $13.12B | $12.07B | $2.39B |
| Total Current Liabilities | $49.67B | $53.84B | $56.83B | $50.50B | $46.74B | $38.24B | $35.11B | $23.75B | $19.53B | $11.67B |
| Long Term Debt | $428.00M | $983.83M | $4.33B | $2.01B | $949.76M | $559.90M | $- | $- | $- | $- |
| Deferred Revenue Non-Current | $- | $- | $- | $145.24M | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $2.13B | $1.35B | $713.44M | $382.03M | $393.68M | $213.22M | $33.72M | $81.43M |
| Other Non-Current Liabilities | $3.40B | $3.01B | $604.93M | $365.58M | $-326.04M | $-102.03M | $5.44B | $632.95M | $200.00K | $84.97M |
| Total Non-Current Liabilities | $3.83B | $4.00B | $7.06B | $3.86B | $12.13B | $11.29B | $5.83B | $846.16M | $33.92M | $166.41M |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $53.50B | $57.84B | $63.89B | $54.37B | $58.88B | $49.53B | $40.94B | $24.60B | $19.57B | $11.83B |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $138.69B | $2.71M | $2.71M | $2.79M | $2.79M | $2.64M | $2.62M | $2.68M | $2.68M | $2.69M |
| Retained Earnings | $- | $112.21B | $91.07B | $77.49B | $64.16B | $56.39B | $44.00B | $42.73B | $35.33B | $26.42B |
| Accumulated Other Comprehensive Income Loss | $- | $2.16B | $431.79M | $417.06M | $577.99M | $1.14B | $1.23B | $1.24B | $1.22B | $1.04B |
| Other Total Stockholders Equity | $- | $9.91B | $11.94B | $17.41B | $17.38B | $5.13B | $- | $2.96B | $2.80B | $2.79B |
| Total Stockholders Equity | $138.69B | $124.29B | $104.73B | $95.33B | $82.13B | $61.45B | $45.23B | $45.73B | $38.19B | $29.24B |
| Total Equity | $142.49B | $128.08B | $108.87B | $99.28B | $83.00B | $62.59B | $46.03B | $46.44B | $38.46B | $29.32B |
| Total Liabilities and Stockholders Equity | $195.99B | $185.92B | $172.76B | $153.64B | $141.87B | $112.12B | $86.97B | $71.03B | $58.03B | $41.16B |
| Minority Interest | $3.81B | $3.80B | $4.14B | $3.95B | $871.01M | $1.14B | $794.21M | $703.13M | $271.86M | $83.52M |
| Total Liabilities and Total Equity | $195.99B | $185.92B | $172.76B | $153.64B | $141.87B | $112.12B | $86.97B | $71.03B | $58.03B | $41.16B |
| Total Investments | $89.22B | $128.13B | $95.54B | $88.86B | $90.98B | $71.16B | $49.92B | $43.13B | $33.46B | $22.48B |
| Total Debt | $12.23B | $20.48B | $27.53B | $20.63B | $19.50B | $16.83B | $13.66B | $6.62B | $3.82B | $2.27B |
| Net Debt | $-39.15B | $-945.42M | $2.64B | $6.13B | $10.39B | $13.58B | $8.27B | $3.86B | $-1.62B | $-3.80B |
Cash Flow Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $29.70B | $29.36B | $19.22B | $16.98B | $12.33B | $13.47B | $6.48B | $10.85B | $11.79B | $6.84B |
| Depreciation and Amortization | $2.42B | $3.06B | $2.86B | $3.28B | $3.46B | $2.61B | $2.08B | $801.80M | $327.51M | $182.45M |
| Deferred Income Tax | $- | $131.44M | $489.67M | $407.95M | $88.18M | $150.63M | $-69.90M | $-438.04M | $66.68M | $-147.28M |
| Stock Based Compensation | $3.88B | $3.24B | $3.17B | $3.04B | $2.66B | $2.40B | $2.53B | $2.00B | $990.13M | $684.47M |
| Change in Working Capital | $1.35B | $375.88M | $3.50B | $3.19B | $4.77B | $-358.15M | $2.48B | $-1.50B | $2.64B | $679.15M |
| Accounts Receivables | $716.38M | $-1.47B | $554.34M | $-1.19B | $-530.41M | $-11.31M | $-710.93M | $565.23M | $-1.65B | $-1.74B |
| Inventory | $123.78M | $296.76M | $-27.61M | $-343.59M | $29.70M | $415.06M | $457.05M | $-3.90B | $-760.37M | $-789.51M |
| Accounts Payables | $- | $-559.42M | $447.67M | $-155.26M | $-86.35M | $13.23M | $-85.19M | $1.10B | $604.09M | $243.14M |
| Other Working Capital | $510.34M | $2.11B | $2.52B | $4.87B | $5.36B | $-775.12M | $2.82B | $727.71M | $4.44B | $2.97B |
| Other Non Cash Items | $2.33B | $-831.34M | $-1.53B | $-1.96B | $1.58B | $-1.06B | $-81.77M | $175.15M | $-329.35M | $-158.76M |
| Net Cash Provided by Operating Activities | $39.68B | $35.33B | $27.71B | $24.93B | $24.89B | $17.22B | $13.42B | $11.89B | $15.49B | $8.08B |
| Investments in Property Plant and Equipment | $-1.28B | $-4.28B | $-2.64B | $-3.11B | $-3.29B | $-3.33B | $-6.89B | $-1.85B | $-1.14B | $-1.03B |
| Acquisitions Net | $- | $-291.99M | $2.41B | $1.12B | $-1.69B | $7.88B | $-3.02B | $114.65M | $-114.92M | $-187.53M |
| Purchases of Investments | $- | $-128.86B | $-110.05B | $-103.12B | $-113.08B | $-100.48B | $-56.15B | $-47.37B | $-36.51B | $-24.94B |
| Sales Maturities of Investments | $- | $116.80B | $103.20B | $98.24B | $89.01B | $74.61B | $53.03B | $38.05B | $26.26B | $25.69B |
| Other Investing Activities | $19.19B | $-413.63M | $-282.31M | $-197.13M | $-143.13M | $-814.00M | $-537.26M | $-2.19B | $-2.49B | $-2.07B |
| Net Cash Used for Investing Activities | $17.92B | $-17.04B | $-7.37B | $-7.08B | $-29.19B | $-22.14B | $-13.57B | $-13.25B | $-14.00B | $-2.54B |
| Debt Repayment | $-819.27M | $-8.31B | $4.85B | $1.71B | $4.04B | $2.97B | $6.21B | $3.10B | $1.49B | $87.14M |
| Common Stock Issued | $- | $- | $- | $- | $21.91B | $10.64M | $6.23B | $- | $- | $- |
| Common Stock Repurchased | $-8.83B | $-5.23B | $-8.33B | $-12.92B | $- | $3.27B | $-7.52B | $-2.06B | $-1.20B | $-132.19M |
| Dividends Paid | $-11.17B | $-8.01B | $-6.72B | $-3.51B | $-4.28B | $-8.84B | $-1.44B | $-3.26B | $-2.55B | $-1.47B |
| Other Financing Activities | $-6.52B | $86.16M | $-30.92M | $2.14B | $-11.76B | $6.95B | $-3.18B | $911.50M | $4.00K | $-119.72M |
| Net Cash Used Provided by Financing Activities | $-27.34B | $-21.47B | $-10.24B | $-12.59B | $9.91B | $1.08B | $1.59B | $-1.30B | $-2.25B | $-1.63B |
| Effect of Forex Changes on Cash | $10.75M | $-202.46M | $110.40M | $-55.35M | $161.89M | $29.08M | $81.51M | $-12.58M | $132.07M | $142.37M |
| Net Change in Cash | $30.27B | $-3.38B | $10.21B | $5.21B | $5.77B | $-3.81B | $1.52B | $-2.68B | $-631.99M | $4.05B |
| Cash at End of Period | $54.47B | $24.21B | $27.59B | $17.38B | $12.17B | $6.40B | $10.21B | $2.76B | $5.44B | $6.07B |
| Cash at Beginning of Period | $24.21B | $27.59B | $17.38B | $12.17B | $6.40B | $10.21B | $8.69B | $5.44B | $6.07B | $2.02B |
| Operating Cash Flow | $39.68B | $35.33B | $27.71B | $24.93B | $24.89B | $17.22B | $13.42B | $11.89B | $15.49B | $8.08B |
| Capital Expenditure | $-1.28B | $-4.28B | $-2.64B | $-3.11B | $-3.29B | $-3.33B | $-6.89B | $-1.85B | $-1.14B | $-1.03B |
| Free Cash Flow | $38.40B | $31.06B | $25.07B | $21.82B | $21.60B | $13.89B | $6.53B | $10.04B | $14.35B | $7.05B |