vs
Side-by-side financial comparison of Brookfield Infrastructure Partners L.P. (BIP) and NetEase, Inc. (NTES). Click either name above to swap in a different company.
Brookfield Infrastructure Partners L.P. is the larger business by last-quarter revenue ($5.4B vs $4.0B, roughly 1.4× NetEase, Inc.). NetEase, Inc. runs the higher net margin — 31.0% vs 4.6%, a 26.4% gap on every dollar of revenue.
Brookfield Infrastructure Partners L.P. is a publicly traded limited partnership with corporate headquarters in Toronto, Canada, that engages in the acquisition and management of infrastructure assets on a global basis.
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.
BIP vs NTES — Head-to-Head
Income Statement — Q2 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $4.0B |
| Net Profit | $252.0M | $1.2B |
| Gross Margin | 26.4% | 64.1% |
| Operating Margin | 24.4% | 28.3% |
| Net Margin | 4.6% | 31.0% |
| Revenue YoY | 5.7% | — |
| Net Profit YoY | 37.0% | — |
| EPS (diluted) | $-0.03 | — |
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.
| Q3 25 | — | $4.0B | ||
| Q2 25 | $5.4B | $3.9B | ||
| Q1 25 | — | $4.0B | ||
| Q3 24 | — | $3.7B | ||
| Q2 24 | $5.1B | $3.5B | ||
| Q1 24 | — | $3.7B | ||
| Q3 23 | — | $3.7B | ||
| Q2 23 | $4.3B | $3.3B |
| Q3 25 | — | $1.2B | ||
| Q2 25 | $252.0M | $1.3B | ||
| Q1 25 | — | $1.5B | ||
| Q3 24 | — | $955.7M | ||
| Q2 24 | $184.0M | $939.6M | ||
| Q1 24 | — | $1.1B | ||
| Q3 23 | — | $1.1B | ||
| Q2 23 | $773.0M | $1.1B |
| Q3 25 | — | 64.1% | ||
| Q2 25 | 26.4% | 64.7% | ||
| Q1 25 | — | 64.1% | ||
| Q3 24 | — | 62.9% | ||
| Q2 24 | 24.6% | 62.9% | ||
| Q1 24 | — | 63.4% | ||
| Q3 23 | — | 62.2% | ||
| Q2 23 | 22.9% | 59.9% |
| Q3 25 | — | 28.3% | ||
| Q2 25 | 24.4% | 32.5% | ||
| Q1 25 | — | 36.2% | ||
| Q3 24 | — | 27.3% | ||
| Q2 24 | 22.8% | 27.4% | ||
| Q1 24 | — | 28.4% | ||
| Q3 23 | — | 27.7% | ||
| Q2 23 | 20.4% | 25.2% |
| Q3 25 | — | 31.0% | ||
| Q2 25 | 4.6% | 32.6% | ||
| Q1 25 | — | 36.6% | ||
| Q3 24 | — | 25.6% | ||
| Q2 24 | 3.6% | 26.8% | ||
| Q1 24 | — | 29.1% | ||
| Q3 23 | — | 28.6% | ||
| Q2 23 | 18.2% | 34.0% |
| Q3 25 | — | — | ||
| Q2 25 | $-0.03 | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-0.10 | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | $0.38 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.3B | $31.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $29.6B | $160.8B |
| Total Assets | $108.7B | $214.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $31.3B | ||
| Q2 25 | $2.3B | $54.4B | ||
| Q1 25 | — | $41.7B | ||
| Q3 24 | — | $20.2B | ||
| Q2 24 | $1.3B | $19.0B | ||
| Q1 24 | — | $43.0B | ||
| Q3 23 | — | $15.1B | ||
| Q2 23 | $1.4B | $12.8B |
| Q3 25 | — | $160.8B | ||
| Q2 25 | $29.6B | $154.0B | ||
| Q1 25 | — | $147.8B | ||
| Q3 24 | — | $135.6B | ||
| Q2 24 | $30.1B | $134.2B | ||
| Q1 24 | — | $130.5B | ||
| Q3 23 | — | $123.8B | ||
| Q2 23 | $28.6B | $118.1B |
| Q3 25 | — | $214.5B | ||
| Q2 25 | $108.7B | $208.5B | ||
| Q1 25 | — | $200.9B | ||
| Q3 24 | — | $184.9B | ||
| Q2 24 | $100.9B | $183.3B | ||
| Q1 24 | — | $195.1B | ||
| Q3 23 | — | $171.6B | ||
| Q2 23 | $81.7B | $167.9B |
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 | $1.2B | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.8B |
| FCF MarginFCF / Revenue | — | 44.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 4.72× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $1.8B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | — | $1.7B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | $1.1B | $898.8M | ||
| Q1 24 | — | $1.3B | ||
| Q3 23 | — | $1.3B | ||
| Q2 23 | $970.0M | $1.1B |
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $875.6M | ||
| Q1 24 | — | $1.3B | ||
| Q3 23 | — | $1.3B | ||
| Q2 23 | — | $987.1M |
| Q3 25 | — | 44.7% | ||
| Q2 25 | — | 38.3% | ||
| Q1 25 | — | 40.4% | ||
| Q3 24 | — | 38.9% | ||
| Q2 24 | — | 25.0% | ||
| Q1 24 | — | 34.0% | ||
| Q3 23 | — | 33.7% | ||
| Q2 23 | — | 29.8% |
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 1.6% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.5% | ||
| Q3 23 | — | 2.4% | ||
| Q2 23 | — | 2.2% |
| Q3 25 | — | 1.47× | ||
| Q2 25 | 4.72× | 1.20× | ||
| Q1 25 | — | 1.15× | ||
| Q3 24 | — | 1.58× | ||
| Q2 24 | 5.74× | 0.96× | ||
| Q1 24 | — | 1.22× | ||
| Q3 23 | — | 1.26× | ||
| Q2 23 | 1.25× | 0.94× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BIP
Segment breakdown not available.
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% |
