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Side-by-side financial comparison of Electronic Arts (EA) 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 $1.9B, roughly 2.1× Electronic Arts). NetEase, Inc. runs the higher net margin — 31.0% vs 4.6%, a 26.4% gap on every dollar of revenue. Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% CAGR vs 3.4%).
Electronic Arts Inc. (EA) is an American video game company headquartered in Redwood City, California. Founded in May 1982 by former Apple employee Trip Hawkins, the company was a pioneer of the early home computer game industry and promoted the designers and programmers responsible for its games as "software artists".
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.
EA vs NTES — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $4.0B |
| Net Profit | $88.0M | $1.2B |
| Gross Margin | 73.8% | 64.1% |
| Operating Margin | 6.7% | 28.3% |
| Net Margin | 4.6% | 31.0% |
| Revenue YoY | 1.0% | — |
| Net Profit YoY | -70.0% | — |
| EPS (diluted) | $0.35 | — |
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 | $1.9B | — | ||
| Q3 25 | $1.8B | $4.0B | ||
| Q2 25 | $1.7B | $3.9B | ||
| Q1 25 | $1.9B | $4.0B | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $2.0B | $3.7B | ||
| Q2 24 | $1.7B | $3.5B | ||
| Q1 24 | $1.8B | $3.7B |
| Q4 25 | $88.0M | — | ||
| Q3 25 | $137.0M | $1.2B | ||
| Q2 25 | $201.0M | $1.3B | ||
| Q1 25 | $254.0M | $1.5B | ||
| Q4 24 | $293.0M | — | ||
| Q3 24 | $294.0M | $955.7M | ||
| Q2 24 | $280.0M | $939.6M | ||
| Q1 24 | $182.0M | $1.1B |
| Q4 25 | 73.8% | — | ||
| Q3 25 | 75.9% | 64.1% | ||
| Q2 25 | 83.3% | 64.7% | ||
| Q1 25 | 80.6% | 64.1% | ||
| Q4 24 | 75.8% | — | ||
| Q3 24 | 77.5% | 62.9% | ||
| Q2 24 | 84.2% | 62.9% | ||
| Q1 24 | 79.9% | 63.4% |
| Q4 25 | 6.7% | — | ||
| Q3 25 | 10.9% | 28.3% | ||
| Q2 25 | 16.2% | 32.5% | ||
| Q1 25 | 20.8% | 36.2% | ||
| Q4 24 | 20.0% | — | ||
| Q3 24 | 19.0% | 27.3% | ||
| Q2 24 | 21.9% | 27.4% | ||
| Q1 24 | 13.2% | 28.4% |
| Q4 25 | 4.6% | — | ||
| Q3 25 | 7.4% | 31.0% | ||
| Q2 25 | 12.0% | 32.6% | ||
| Q1 25 | 13.4% | 36.6% | ||
| Q4 24 | 15.6% | — | ||
| Q3 24 | 14.5% | 25.6% | ||
| Q2 24 | 16.9% | 26.8% | ||
| Q1 24 | 10.2% | 29.1% |
| Q4 25 | $0.35 | — | ||
| Q3 25 | $0.54 | — | ||
| Q2 25 | $0.79 | — | ||
| Q1 25 | $0.99 | — | ||
| Q4 24 | $1.11 | — | ||
| Q3 24 | $1.11 | — | ||
| Q2 24 | $1.04 | — | ||
| Q1 24 | $0.67 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.8B | $31.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $6.2B | $160.8B |
| Total Assets | $13.3B | $214.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.8B | — | ||
| Q3 25 | $1.1B | $31.3B | ||
| Q2 25 | $1.5B | $54.4B | ||
| Q1 25 | $2.1B | $41.7B | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.2B | $20.2B | ||
| Q2 24 | $2.4B | $19.0B | ||
| Q1 24 | $2.9B | $43.0B |
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.0B | $160.8B | ||
| Q2 25 | $6.1B | $154.0B | ||
| Q1 25 | $6.4B | $147.8B | ||
| Q4 24 | $7.4B | — | ||
| Q3 24 | $7.4B | $135.6B | ||
| Q2 24 | $7.4B | $134.2B | ||
| Q1 24 | $7.5B | $130.5B |
| Q4 25 | $13.3B | — | ||
| Q3 25 | $11.9B | $214.5B | ||
| Q2 25 | $11.7B | $208.5B | ||
| Q1 25 | $12.4B | $200.9B | ||
| Q4 24 | $13.5B | — | ||
| Q3 24 | $13.1B | $184.9B | ||
| Q2 24 | $12.7B | $183.3B | ||
| Q1 24 | $13.4B | $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 | $1.8B | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.8B |
| FCF MarginFCF / Revenue | — | 44.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 20.75× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.8B | — | ||
| Q3 25 | $130.0M | $1.8B | ||
| Q2 25 | $17.0M | $1.5B | ||
| Q1 25 | $549.0M | $1.7B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $234.0M | $1.5B | ||
| Q2 24 | $120.0M | $898.8M | ||
| Q1 24 | $580.0M | $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 | 20.75× | — | ||
| Q3 25 | 0.95× | 1.47× | ||
| Q2 25 | 0.08× | 1.20× | ||
| Q1 25 | 2.16× | 1.15× | ||
| Q4 24 | 4.01× | — | ||
| Q3 24 | 0.80× | 1.58× | ||
| Q2 24 | 0.43× | 0.96× | ||
| Q1 24 | 3.19× | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EA
| Live Services And Other Net Revenue | $1.3B | 67% |
| PC And Other Net Revenue | $465.0M | 24% |
| Packaged Goods Net Revenue | $86.0M | 5% |
| Other | $56.0M | 3% |
| Estimated Service Offering Period | $25.0M | 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% |
