vs
Side-by-side financial comparison of APA Corporation (APA) 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 $2.2B, roughly 1.8× APA Corporation). NetEase, Inc. runs the higher net margin — 31.0% vs 15.0%, a 16.0% gap on every dollar of revenue. Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% CAGR vs 1.4%).
APA Corporation, a holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston.
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.
APA vs NTES — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.2B | $4.0B |
| Net Profit | $331.0M | $1.2B |
| Gross Margin | — | 64.1% |
| Operating Margin | 32.5% | 28.3% |
| Net Margin | 15.0% | 31.0% |
| Revenue YoY | -24.3% | — |
| Net Profit YoY | -22.1% | — |
| EPS (diluted) | $0.79 | — |
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 | $2.2B | — | ||
| Q3 25 | $2.3B | $4.0B | ||
| Q2 25 | $2.3B | $3.9B | ||
| Q1 25 | $2.7B | $4.0B | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $2.7B | $3.7B | ||
| Q2 24 | $2.8B | $3.5B | ||
| Q1 24 | $2.1B | $3.7B |
| Q4 25 | $331.0M | — | ||
| Q3 25 | $205.0M | $1.2B | ||
| Q2 25 | $603.0M | $1.3B | ||
| Q1 25 | $418.0M | $1.5B | ||
| Q4 24 | $425.0M | — | ||
| Q3 24 | $-223.0M | $955.7M | ||
| Q2 24 | $541.0M | $939.6M | ||
| Q1 24 | $212.0M | $1.1B |
| Q4 25 | — | — | ||
| Q3 25 | — | 64.1% | ||
| Q2 25 | — | 64.7% | ||
| Q1 25 | — | 64.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 62.9% | ||
| Q2 24 | — | 62.9% | ||
| Q1 24 | — | 63.4% |
| Q4 25 | 32.5% | — | ||
| Q3 25 | 33.7% | 28.3% | ||
| Q2 25 | 31.8% | 32.5% | ||
| Q1 25 | 31.9% | 36.2% | ||
| Q4 24 | 31.4% | — | ||
| Q3 24 | -5.2% | 27.3% | ||
| Q2 24 | 34.4% | 27.4% | ||
| Q1 24 | 32.2% | 28.4% |
| Q4 25 | 15.0% | — | ||
| Q3 25 | 9.0% | 31.0% | ||
| Q2 25 | 26.0% | 32.6% | ||
| Q1 25 | 15.4% | 36.6% | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | -8.1% | 25.6% | ||
| Q2 24 | 19.0% | 26.8% | ||
| Q1 24 | 9.9% | 29.1% |
| Q4 25 | $0.79 | — | ||
| Q3 25 | $0.57 | — | ||
| Q2 25 | $1.67 | — | ||
| Q1 25 | $0.96 | — | ||
| Q4 24 | $0.97 | — | ||
| Q3 24 | $-0.60 | — | ||
| Q2 24 | $1.46 | — | ||
| Q1 24 | $0.44 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $516.0M | $31.3B |
| Total DebtLower is stronger | $4.3B | — |
| Stockholders' EquityBook value | $6.1B | $160.8B |
| Total Assets | $17.8B | $214.5B |
| Debt / EquityLower = less leverage | 0.70× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $516.0M | — | ||
| Q3 25 | $475.0M | $31.3B | ||
| Q2 25 | $107.0M | $54.4B | ||
| Q1 25 | $67.0M | $41.7B | ||
| Q4 24 | $625.0M | — | ||
| Q3 24 | $64.0M | $20.2B | ||
| Q2 24 | $160.0M | $19.0B | ||
| Q1 24 | $102.0M | $43.0B |
| Q4 25 | $4.3B | — | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $4.3B | — | ||
| Q1 25 | $5.2B | — | ||
| Q4 24 | $6.0B | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.7B | — | ||
| Q1 24 | $5.2B | — |
| Q4 25 | $6.1B | — | ||
| Q3 25 | $6.0B | $160.8B | ||
| Q2 25 | $5.9B | $154.0B | ||
| Q1 25 | $5.4B | $147.8B | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $5.1B | $135.6B | ||
| Q2 24 | $5.4B | $134.2B | ||
| Q1 24 | $2.6B | $130.5B |
| Q4 25 | $17.8B | — | ||
| Q3 25 | $17.7B | $214.5B | ||
| Q2 25 | $18.1B | $208.5B | ||
| Q1 25 | $18.5B | $200.9B | ||
| Q4 24 | $19.4B | — | ||
| Q3 24 | $19.4B | $184.9B | ||
| Q2 24 | $20.2B | $183.3B | ||
| Q1 24 | $15.0B | $195.1B |
| Q4 25 | 0.70× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.96× | — | ||
| Q4 24 | 1.13× | — | ||
| Q3 24 | 1.25× | — | ||
| Q2 24 | 1.24× | — | ||
| Q1 24 | 1.99× | — |
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 | $808.0M | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.8B |
| FCF MarginFCF / Revenue | — | 44.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 2.44× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $808.0M | — | ||
| Q3 25 | $1.5B | $1.8B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.1B | $1.7B | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.3B | $1.5B | ||
| Q2 24 | $877.0M | $898.8M | ||
| Q1 24 | $368.0M | $1.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $875.6M | ||
| Q1 24 | — | $1.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | 44.7% | ||
| Q2 25 | — | 38.3% | ||
| Q1 25 | — | 40.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 38.9% | ||
| Q2 24 | — | 25.0% | ||
| Q1 24 | — | 34.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.5% |
| Q4 25 | 2.44× | — | ||
| Q3 25 | 7.12× | 1.47× | ||
| Q2 25 | 1.96× | 1.20× | ||
| Q1 25 | 2.62× | 1.15× | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | — | 1.58× | ||
| Q2 24 | 1.62× | 0.96× | ||
| Q1 24 | 1.74× | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APA
| Oil And Gas Excluding Purchased | $1.7B | 76% |
| Oil And Gas Purchased | $323.0M | 15% |
| Oil Reserves | $114.0M | 5% |
| Other | $72.0M | 3% |
| Natural Gas Reserves | $30.0M | 1% |
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% |
