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Side-by-side financial comparison of C3.ai, Inc. (AI) and NetEase, Inc. (NTES). Click either name above to swap in a different company.
NetEase, Inc. is the larger business by last-quarter revenue ($4.0B vs $75.1M, roughly 53.0× C3.ai, Inc.). NetEase, Inc. runs the higher net margin — 31.0% vs -139.3%, a 170.3% gap on every dollar of revenue. NetEase, Inc. produced more free cash flow last quarter ($1.8B vs $-46.9M). Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
NetEase, Inc. is a Chinese developer and publisher of online PC and mobile games, advertising services, email services, and e-commerce platforms. It is one of the largest Internet and video game companies in the world and was founded by Ding Lei in June 1997.
AI vs NTES — Head-to-Head
Income Statement — Q2 2026 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $4.0B |
| Net Profit | $-104.7M | $1.2B |
| Gross Margin | 40.4% | 64.1% |
| Operating Margin | -149.2% | 28.3% |
| Net Margin | -139.3% | 31.0% |
| Revenue YoY | -20.3% | — |
| Net Profit YoY | -58.7% | — |
| EPS (diluted) | $-0.75 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | — | ||
| Q3 25 | $70.3M | $4.0B | ||
| Q2 25 | $108.7M | $3.9B | ||
| Q1 25 | $98.8M | $4.0B | ||
| Q4 24 | $94.3M | — | ||
| Q3 24 | $87.2M | $3.7B | ||
| Q2 24 | $86.6M | $3.5B | ||
| Q1 24 | $78.4M | $3.7B |
| Q4 25 | $-104.7M | — | ||
| Q3 25 | $-116.8M | $1.2B | ||
| Q2 25 | $-79.7M | $1.3B | ||
| Q1 25 | $-80.2M | $1.5B | ||
| Q4 24 | $-66.0M | — | ||
| Q3 24 | $-62.8M | $955.7M | ||
| Q2 24 | $-72.9M | $939.6M | ||
| Q1 24 | $-72.6M | $1.1B |
| Q4 25 | 40.4% | — | ||
| Q3 25 | 37.6% | 64.1% | ||
| Q2 25 | 62.1% | 64.7% | ||
| Q1 25 | 59.1% | 64.1% | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 59.8% | 62.9% | ||
| Q2 24 | 59.6% | 62.9% | ||
| Q1 24 | 57.8% | 63.4% |
| Q4 25 | -149.2% | — | ||
| Q3 25 | -177.7% | 28.3% | ||
| Q2 25 | -81.8% | 32.5% | ||
| Q1 25 | -88.7% | 36.2% | ||
| Q4 24 | -79.8% | — | ||
| Q3 24 | -83.2% | 27.3% | ||
| Q2 24 | -95.1% | 27.4% | ||
| Q1 24 | -105.3% | 28.4% |
| Q4 25 | -139.3% | — | ||
| Q3 25 | -166.2% | 31.0% | ||
| Q2 25 | -73.3% | 32.6% | ||
| Q1 25 | -81.2% | 36.6% | ||
| Q4 24 | -69.9% | — | ||
| Q3 24 | -72.0% | 25.6% | ||
| Q2 24 | -84.2% | 26.8% | ||
| Q1 24 | -92.6% | 29.1% |
| Q4 25 | $-0.75 | — | ||
| Q3 25 | $-0.86 | — | ||
| Q2 25 | $-0.60 | — | ||
| Q1 25 | $-0.62 | — | ||
| Q4 24 | $-0.52 | — | ||
| Q3 24 | $-0.50 | — | ||
| Q2 24 | $-0.59 | — | ||
| Q1 24 | $-0.60 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $31.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $160.8B |
| Total Assets | $961.3M | $214.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | — | ||
| Q3 25 | $711.9M | $31.3B | ||
| Q2 25 | $742.7M | $54.4B | ||
| Q1 25 | $724.3M | $41.7B | ||
| Q4 24 | $730.4M | — | ||
| Q3 24 | $762.5M | $20.2B | ||
| Q2 24 | $750.4M | $19.0B | ||
| Q1 24 | $723.3M | $43.0B |
| Q4 25 | $771.9M | — | ||
| Q3 25 | $798.8M | $160.8B | ||
| Q2 25 | $838.3M | $154.0B | ||
| Q1 25 | $860.2M | $147.8B | ||
| Q4 24 | $859.0M | — | ||
| Q3 24 | $874.9M | $135.6B | ||
| Q2 24 | $873.4M | $134.2B | ||
| Q1 24 | $898.0M | $130.5B |
| Q4 25 | $961.3M | — | ||
| Q3 25 | $968.7M | $214.5B | ||
| Q2 25 | $1.0B | $208.5B | ||
| Q1 25 | $1.1B | $200.9B | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.1B | $184.9B | ||
| Q2 24 | $1.0B | $183.3B | ||
| Q1 24 | $1.1B | $195.1B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-46.5M | $1.8B |
| Free Cash FlowOCF − Capex | $-46.9M | $1.8B |
| FCF MarginFCF / Revenue | -62.4% | 44.7% |
| Capex IntensityCapex / Revenue | 0.5% | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | — | ||
| Q3 25 | $-33.5M | $1.8B | ||
| Q2 25 | $11.3M | $1.5B | ||
| Q1 25 | $-22.0M | $1.7B | ||
| Q4 24 | $-38.7M | — | ||
| Q3 24 | $8.0M | $1.5B | ||
| Q2 24 | $21.3M | $898.8M | ||
| Q1 24 | $-39.1M | $1.3B |
| Q4 25 | $-46.9M | — | ||
| Q3 25 | $-34.3M | $1.8B | ||
| Q2 25 | $10.3M | $1.5B | ||
| Q1 25 | $-22.4M | $1.6B | ||
| Q4 24 | $-39.5M | — | ||
| Q3 24 | $7.1M | $1.5B | ||
| Q2 24 | $18.8M | $875.6M | ||
| Q1 24 | $-45.1M | $1.3B |
| Q4 25 | -62.4% | — | ||
| Q3 25 | -48.8% | 44.7% | ||
| Q2 25 | 9.5% | 38.3% | ||
| Q1 25 | -22.7% | 40.4% | ||
| Q4 24 | -41.9% | — | ||
| Q3 24 | 8.2% | 38.9% | ||
| Q2 24 | 21.7% | 25.0% | ||
| Q1 24 | -57.6% | 34.0% |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 1.1% | 1.0% | ||
| Q2 25 | 0.9% | 0.7% | ||
| Q1 25 | 0.4% | 1.6% | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.1% | 1.4% | ||
| Q2 24 | 2.9% | 0.7% | ||
| Q1 24 | 7.8% | 1.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.58× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
NTES
| Games and related value-added services | $3.3B | 82% |
| NetEase Cloud Music | $275.9M | 7% |
| Youdao | $228.8M | 6% |
| Innovative businesses and others | $202.1M | 5% |
