NetEase (NTES) FCF conversion US GAAP (year values)

FY2021 FY2022 FY2023 FY2024 FY2025   LTM ? 5 years average
FCF conversion, % 110.8% 111.5% 100.9% 117.1% 112.2%   125.0%  
Changes by years, y/y, % -9pp +1pp -11pp +16pp -5pp     +110%

NetEase. FCF conversion, %

NetEase. FCF conversion, changes, pp

NetEase (NTES) FCF conversion US GAAP (quarter values)

FY2025Q2 FY2025Q3 FY2025Q4 FY2026Q1 FY2026Q2   LTM ?
FCF conversion, % 93.5% 116.3% 172.1% 95.2% 79.8%   125.0%
Changes by years, y/y, % +15pp -14pp +23pp -9pp -14pp    
Changes by quarters, q/q, % -10pp +23pp +56pp -77pp -15pp    

NetEase. FCF conversion, %

NetEase. FCF conversion, changes, pp

NetEase. FCF conversion, changes, pp