vs
Side-by-side financial comparison of Delek US Holdings, Inc. (DK) 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 $2.6B, roughly 1.5× Delek US Holdings, Inc.). NetEase, Inc. runs the higher net margin — 31.0% vs -7.7%, a 38.7% gap on every dollar of revenue. Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% CAGR vs -10.8%).
Delek US Holdings, Inc. is an oil refining, logistics and biofuels company founded in 2001 and headquartered in Brentwood, Tennessee.
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.
DK vs NTES — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.6B | $4.0B |
| Net Profit | $-201.3M | $1.2B |
| Gross Margin | -5.8% | 64.1% |
| Operating Margin | — | 28.3% |
| Net Margin | -7.7% | 31.0% |
| Revenue YoY | -4.9% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $-3.34 | — |
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.
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.9B | $4.0B | ||
| Q2 25 | $2.8B | $3.9B | ||
| Q1 25 | $2.6B | $4.0B | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $3.0B | $3.7B | ||
| Q2 24 | $3.3B | $3.5B |
| Q1 26 | $-201.3M | — | ||
| Q4 25 | $78.3M | — | ||
| Q3 25 | $178.0M | $1.2B | ||
| Q2 25 | $-106.4M | $1.3B | ||
| Q1 25 | $-172.7M | $1.5B | ||
| Q4 24 | $-413.8M | — | ||
| Q3 24 | $-76.8M | $955.7M | ||
| Q2 24 | $-37.2M | $939.6M |
| Q1 26 | -5.8% | — | ||
| Q4 25 | 9.3% | — | ||
| Q3 25 | 13.8% | 64.1% | ||
| Q2 25 | 1.9% | 64.7% | ||
| Q1 25 | -2.4% | 64.1% | ||
| Q4 24 | -5.7% | — | ||
| Q3 24 | -0.7% | 62.9% | ||
| Q2 24 | 0.5% | 62.9% |
| Q1 26 | — | — | ||
| Q4 25 | 6.8% | — | ||
| Q3 25 | 10.2% | 28.3% | ||
| Q2 25 | -1.2% | 32.5% | ||
| Q1 25 | -4.8% | 36.2% | ||
| Q4 24 | -17.0% | — | ||
| Q3 24 | -4.0% | 27.3% | ||
| Q2 24 | 0.1% | 27.4% |
| Q1 26 | -7.7% | — | ||
| Q4 25 | 3.2% | — | ||
| Q3 25 | 6.2% | 31.0% | ||
| Q2 25 | -3.8% | 32.6% | ||
| Q1 25 | -6.5% | 36.6% | ||
| Q4 24 | -17.4% | — | ||
| Q3 24 | -2.5% | 25.6% | ||
| Q2 24 | -1.1% | 26.8% |
| Q1 26 | $-3.34 | — | ||
| Q4 25 | $1.23 | — | ||
| Q3 25 | $2.93 | — | ||
| Q2 25 | $-1.76 | — | ||
| Q1 25 | $-2.78 | — | ||
| Q4 24 | $-6.48 | — | ||
| Q3 24 | $-1.20 | — | ||
| Q2 24 | $-0.58 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $624.1M | $31.3B |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $302.0M | $160.8B |
| Total Assets | $7.6B | $214.5B |
| Debt / EquityLower = less leverage | 10.54× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $624.1M | — | ||
| Q4 25 | $625.8M | — | ||
| Q3 25 | $630.9M | $31.3B | ||
| Q2 25 | $615.5M | $54.4B | ||
| Q1 25 | $623.8M | $41.7B | ||
| Q4 24 | $735.6M | — | ||
| Q3 24 | $1.0B | $20.2B | ||
| Q2 24 | $657.9M | $19.0B |
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.1B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.8B | — | ||
| Q2 24 | $2.5B | — |
| Q1 26 | $302.0M | — | ||
| Q4 25 | $547.3M | — | ||
| Q3 25 | $444.8M | $160.8B | ||
| Q2 25 | $294.9M | $154.0B | ||
| Q1 25 | $429.4M | $147.8B | ||
| Q4 24 | $575.2M | — | ||
| Q3 24 | $875.4M | $135.6B | ||
| Q2 24 | $982.8M | $134.2B |
| Q1 26 | $7.6B | — | ||
| Q4 25 | $6.8B | — | ||
| Q3 25 | $7.1B | $214.5B | ||
| Q2 25 | $7.1B | $208.5B | ||
| Q1 25 | $6.9B | $200.9B | ||
| Q4 24 | $6.7B | — | ||
| Q3 24 | $7.0B | $184.9B | ||
| Q2 24 | $6.9B | $183.3B |
| Q1 26 | 10.54× | — | ||
| Q4 25 | 5.91× | — | ||
| Q3 25 | 7.14× | — | ||
| Q2 25 | 10.51× | — | ||
| Q1 25 | 7.07× | — | ||
| Q4 24 | 4.81× | — | ||
| Q3 24 | 3.19× | — | ||
| Q2 24 | 2.50× | — |
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 | — | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.8B |
| FCF MarginFCF / Revenue | — | 44.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $502.8M | — | ||
| Q3 25 | $44.0M | $1.8B | ||
| Q2 25 | $51.4M | $1.5B | ||
| Q1 25 | $-62.4M | $1.7B | ||
| Q4 24 | $-163.5M | — | ||
| Q3 24 | $-21.6M | $1.5B | ||
| Q2 24 | $-48.4M | $898.8M |
| Q1 26 | — | — | ||
| Q4 25 | $382.8M | — | ||
| Q3 25 | $-64.0M | $1.8B | ||
| Q2 25 | $-114.4M | $1.5B | ||
| Q1 25 | $-198.1M | $1.6B | ||
| Q4 24 | $-354.0M | — | ||
| Q3 24 | $-140.6M | $1.5B | ||
| Q2 24 | $-128.3M | $875.6M |
| Q1 26 | — | — | ||
| Q4 25 | 15.8% | — | ||
| Q3 25 | -2.2% | 44.7% | ||
| Q2 25 | -4.1% | 38.3% | ||
| Q1 25 | -7.5% | 40.4% | ||
| Q4 24 | -14.9% | — | ||
| Q3 24 | -4.6% | 38.9% | ||
| Q2 24 | -3.9% | 25.0% |
| Q1 26 | — | — | ||
| Q4 25 | 4.9% | — | ||
| Q3 25 | 3.7% | 1.0% | ||
| Q2 25 | 6.0% | 0.7% | ||
| Q1 25 | 5.1% | 1.6% | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | 3.9% | 1.4% | ||
| Q2 24 | 2.4% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 6.42× | — | ||
| Q3 25 | 0.25× | 1.47× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.58× | ||
| Q2 24 | — | 0.96× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DK
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% |
