NTES
NetEase, Inc. (NTES)
Last Price$96.6(3.1%)
Market Cap$63.1B
LTM NOPAT
CN¥25.1B
NOPAT margin
23.8%
5Y avg: 17.9%
EPV as % of EV
(1,054.5%)
Market-Implied Value of Growth, MIVoG as % of EV
1,154.5%
Discount rate
8.2%
Stock quality
7/10
Great

NTES Earnings Power Value Model

(CNY M)Mar'20Jun'20Sep'20Dec'20Mar'21Jun'21Sep'21Dec'21Mar'22Jun'22Sep'22Dec'22Mar'23Jun'23Sep'23Dec'23Mar'24Jun'24Sep'24Dec'24
LTM Revenue
% growth
66,201.9
(7.2%)
65,617.7
(11.1%)
69,640.2
(2.7%)
73,667.1
9.1%
77,122.0
16.5%
79,461.7
21.1%
82,994.2
19.2%
87,606.0
18.9%
90,644.7
17.5%
93,279.2
17.4%
95,515.2
15.1%
96,495.8
10.1%
97,986.3
8.1%
98,838.5
6.0%
101,682.1
6.5%
103,468.2
7.2%
105,273.6
7.4%
106,748.1
8.0%
105,687.6
3.9%
105,295.2
1.8%
LTM NOPAT
% growth
12,282.3
N/A
12,812.2
4.3%
11,768.9
(8.1%)
11,661.5
(0.9%)
11,455.0
(1.8%)
10,871.1
(5.1%)
11,349.0
4.4%
13,205.7
16.4%
14,200.4
7.5%
15,222.4
7.2%
13,787.0
(9.4%)
13,380.1
(3.0%)
14,856.2
11.0%
16,517.7
11.2%
21,536.3
30.4%
23,885.4
10.9%
24,452.0
2.4%
24,680.5
0.9%
24,188.5
(2.0%)
25,060.5
3.6%
Discount rate
5.2%
5.2%
5.2%
5.5%
6.2%
6.0%
5.9%
6.0%
6.8%
7.4%
7.9%
8.0%
7.8%
8.0%
9.0%
8.4%
8.6%
8.6%
8.2%
8.2%
Earnings Power Value (EPV)
236,894.4
248,032.7
227,046.7
213,760.9
183,707.8
181,051.9
192,532.7
218,948.5
209,205.1
204,768.8
174,862.5
166,810.7
189,431.9
205,864.8
239,136.3
285,269.7
285,837.4
287,228.3
294,803.2
305,855.9
Enterprise Value (EV)
226,990.8
342,079.6
341,760.5
344,712.1
380,006.5
419,716.6
278,809.8
362,298.2
307,112.2
329,457.5
269,508.4
237,470.8
303,244.6
368,322.4
376,190.9
331,871.2
374,258.4
336,984.2
313,550.1
(29,003.5)
Market-Implied Value of Growth (MIVoG)
(9,903.5)
94,046.9
114,713.8
130,951.2
196,298.6
238,664.7
86,277.1
143,349.7
97,907.1
124,688.7
94,645.9
70,660.1
113,812.7
162,457.6
137,054.6
46,601.4
88,421.0
49,755.9
18,746.9
(334,859.4)
EPV as % of EV104.4%72.5%66.4%62.0%48.3%43.1%69.1%60.4%68.1%62.2%64.9%70.2%62.5%55.9%63.6%86.0%76.4%85.2%94.0%(1,054.5%)
MIVoG as % of EV(4.4%)27.5%33.6%38.0%51.7%56.9%30.9%39.6%31.9%37.8%35.1%29.8%37.5%44.1%36.4%14.0%23.6%14.8%6.0%1,154.5%

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NTES NOPAT

Annual
Quarterly
LTM
$0.0$5,000.0M$10.0B$15.0B$20.0BDec'04Dec'06Dec'08Dec'10Dec'12Dec'14Dec'16Dec'18Dec'20Dec'22
NOPAT
NOPAT margin

NTES Earnings Power Value and Enterprise Value

Annual
LTM
Enterprise Value Breakdown
EPV and MIVoG as % of EV

NTES vs Peer Set: Earnings Power Value comparison

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FAQ

What is NetEase, Inc. Earnings Power Value?

As of Dec 31, 2024, NetEase, Inc.'s Earnings Power Value is approximately CN¥305.9B.

What is NetEase, Inc. EV (Enterprise Value)?

As of Dec 31, 2024, NetEase, Inc.'s Enterprise Value (EV) estimates at (CN¥29.0B).

What is NetEase, Inc. NOPAT?

As of Dec 31, 2024, NetEase, Inc.'s Net operating profit after tax (NOPAT) is approximately CN¥25.1B.