CMCM vs NTES
Cheetah Mobile Inc. and NetEase, Inc., side by side — 10 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | CMCM | NTES |
|---|---|---|
| Revenue | CNY 1.2B | CNY 112.6B |
| Net income | CNY -257.7M | CNY 34.8B |
| Gross margin | 72.5% | 64.3% |
| Net margin | −20.4% | 30.9% |
| Return on equity | −14.7% | 23.3% |
| Diluted EPS | — | CNY 10.48 |
| Dividend / share | — | — |
| Payout ratio | — | 39.7% |
| Free cash flow | — | CNY 49.7B |
| Equity | CNY 1.6B | CNY 160.3B |
| Net debt / equity | — | — |
| Current ratio | 1.27× | 3.45× |
| Revenue CAGR 5y | −5.8% | 8.9% |
| Profit CAGR 5y | — | 23.1% |
NTES bills 97.9× the revenue of CMCM, and CMCM closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
Revenue by year
10 years side by side
| Fiscal year | CMCM | NTES |
|---|---|---|
| FY2025 | CNY 1.2B | CNY 112.6B |
| FY2024 | CNY 806.9M | CNY 105.3B |
| FY2023 | CNY 669.5M | CNY 103.5B |
| FY2022 | CNY 884.1M | CNY 96.5B |
| FY2021 | CNY 784.6M | CNY 87.6B |
| FY2020 | CNY 1.6B | CNY 73.7B |
| FY2019 | CNY 3.6B | CNY 59.2B |
| FY2018 | CNY 5.0B | CNY 51.2B |
| FY2017 | CNY 5.0B | CNY 44.4B |
| FY2016 | CNY 4.6B | CNY 38.2B |
Net income by year
Bottom line
| Fiscal year | CMCM | NTES |
|---|---|---|
| FY2025 | CNY -257.7M | CNY 34.8B |
| FY2024 | CNY -617.6M | CNY 30.3B |
| FY2023 | CNY -602.9M | CNY 29.4B |
| FY2022 | CNY -513.5M | CNY 19.8B |
| FY2021 | CNY -351.1M | CNY 17.0B |
| FY2020 | CNY 416.7M | CNY 12.3B |
| FY2019 | CNY -314.0M | CNY 21.4B |
| FY2018 | CNY 1.2B | CNY 6.5B |
| FY2017 | CNY 1.3B | CNY 10.8B |
| FY2016 | CNY -80.5M | CNY 11.8B |
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