NetEase (ADR) (NTES)
Builds PC and mobile games alongside learning, music, and consumer platforms.
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Develops and operates PC and mobile games, including long-running Chinese franchises and newer global releases, while Youdao, NetEase Cloud Music, and Yanxuan extend the portfolio into learning, music, and consumer goods. Games remain the core business, with mainland launches dependent on regulatory approval and overseas growth supported by international studios and distribution.
Develops and operates PC and mobile games, with long-running franchises such as Fantasy Westward Journey Online alongside newer global releases including Marvel Rivals. Games and related value-added services remain the core business, supported by a library that spans internally developed and licensed titles.
Extends its consumer platform through Youdao learning services and smart devices, NetEase Cloud Music subscriptions and social entertainment, and Yanxuan private-label goods. Game distribution and development have expanded from China into Japan, Southeast Asia, the United States, and other international markets.
Relies on sustained content updates, internal development, licensing relationships, and access to distribution across PC and mobile. Mainland launches require government approval, while the listed Cayman issuer consolidates regulated Chinese operations through contractual arrangements with variable-interest entities.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 22, 2026 | Exane BNP Paribas | Initiate | Rating: — | |
| Sep 22, 2026 | BNP Paribas | Target | Target: — | Target: $180 |
| Aug 21, 2026 | Bernstein | Reiterate | Rating: —Target: $155 | Target: $160 |
| Jul 1, 2026 | Goldman Sachs | Target | Target: $161 | Target: $169 |
| May 26, 2026 | Morgan Stanley | Target | Target: $154 | Target: $158 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $26.90B · Total debt $1.89B · Total assets $34.73B · Shareholders' equity $24.99B
- Revenue
- $4.49B
- Operating income
- $1.80B
- Net income
- $1.04B
Reported in CNY, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | 9.16% | 58.50M ADS | |
|---|---|---|---|
| 483 holders · as of Jun 30, 2026 | |||
| Insiders | 45.45% | 290.14M ADS | |
| 6 holders · as of Jun 30, 2026 | |||
| Other | 45.39% | 289.79M ADS | |
| remainder | |||
638.42M ADS (1 ADS = 5 ordinary shares) as of Sep 12, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
William Lei DingInsiderdirector, officer: Chief Executive Officer | 45.43% | 1.41B ordinary · 8.86M ADS | filed Mar 17, 2026 |
UBS Asset Management Americas IncInstitution | 1.26% | 8.04M ADS | as of Jun 30, 2026 |
Ninety One UK LtdInstitution | 0.98% | 6.25M ADS | as of Jun 30, 2026 |
Orbis Allan Gray LtdInstitution | 0.55% | 3.50M ADS | as of Jun 30, 2026 |
FMR LLCInstitution | 0.39% | 2.52M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 2, 2026 | Bin Mo | officer: Vice President, Finance | −716 | $120.64 |
| Jun 29, 2026 | Paul William JR Boltz | officer: General Counsel | −10,000 | $128.30 |
- Take-Two Interactive
PC, console, and mobile rival across persistent game worlds
- Tencent Music Entertainment Group (ADR)
Direct rival to NetEase Cloud Music in China's online music market
- Bilibili (ADR)
China game publisher with a large youth entertainment community
- New Oriental (ADR)
Direct rival to Youdao in learning services and smart learning devices
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| NetEase (ADR) | $118.40 | +0.79% | $75.00B | 15.7 | 14.9 | 4.3 | +13.9% |
| Take-Two Interactive | $205.31 | −2.20% | $39.25B | — | 25.2 | 5.9 | +2.0% |
| Tencent Music Entertainment Group (ADR) | $8.32 | +1.77% | $12.56B | 9.9 | 11.2 | 2.5 | +11.8% |
| Bilibili (ADR) | $15.26 | +0.53% | $6.37B | 30.1 | 18.3 | 1.4 | +14.1% |
| New Oriental (ADR) | $54.82 | −0.58% | $8.70B | 18.6 | 14.2 | 1.5 | +23.0% |
| Median | 18.6 | 16.2 | 2.0 | +13.0% |