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Side-by-side financial comparison of Consolidated Edison (ED) 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 $4.0B, roughly 1.0× Consolidated Edison). NetEase, Inc. runs the higher net margin — 31.0% vs 7.5%, a 23.5% gap on every dollar of revenue. Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% CAGR vs -3.7%).
Consolidated Edison, Inc., commonly known as Con Edison or ConEd, is an energy company based in New York City. It is one of the largest investor-owned energy companies in the United States, with approximately $15.26 billion in annual revenues as of 2024, and over $70 billion in assets. The company provides a wide range of energy-related products and services to its customers through its subsidiaries:Consolidated Edison Company of New York, Inc.
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.
ED vs NTES — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.0B | $4.0B |
| Net Profit | $298.0M | $1.2B |
| Gross Margin | — | 64.1% |
| Operating Margin | 12.3% | 28.3% |
| Net Margin | 7.5% | 31.0% |
| Revenue YoY | 8.2% | — |
| Net Profit YoY | -3.9% | — |
| EPS (diluted) | $0.81 | — |
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 | $4.0B | — | ||
| Q3 25 | $4.6B | $4.0B | ||
| Q2 25 | $3.6B | $3.9B | ||
| Q1 25 | $4.9B | $4.0B | ||
| Q4 24 | $3.7B | — | ||
| Q3 24 | $4.2B | $3.7B | ||
| Q2 24 | $3.3B | $3.5B | ||
| Q1 24 | $4.3B | $3.7B |
| Q4 25 | $298.0M | — | ||
| Q3 25 | $688.0M | $1.2B | ||
| Q2 25 | $246.0M | $1.3B | ||
| Q1 25 | $791.0M | $1.5B | ||
| Q4 24 | $310.0M | — | ||
| Q3 24 | $588.0M | $955.7M | ||
| Q2 24 | $202.0M | $939.6M | ||
| Q1 24 | $720.0M | $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 | 12.3% | — | ||
| Q3 25 | 21.2% | 28.3% | ||
| Q2 25 | 9.8% | 32.5% | ||
| Q1 25 | 23.0% | 36.2% | ||
| Q4 24 | 13.0% | — | ||
| Q3 24 | 20.4% | 27.3% | ||
| Q2 24 | 9.7% | 27.4% | ||
| Q1 24 | 23.6% | 28.4% |
| Q4 25 | 7.5% | — | ||
| Q3 25 | 15.1% | 31.0% | ||
| Q2 25 | 6.8% | 32.6% | ||
| Q1 25 | 16.2% | 36.6% | ||
| Q4 24 | 8.5% | — | ||
| Q3 24 | 13.9% | 25.6% | ||
| Q2 24 | 6.1% | 26.8% | ||
| Q1 24 | 16.8% | 29.1% |
| Q4 25 | $0.81 | — | ||
| Q3 25 | $1.90 | — | ||
| Q2 25 | $0.68 | — | ||
| Q1 25 | $2.25 | — | ||
| Q4 24 | $0.89 | — | ||
| Q3 24 | $1.69 | — | ||
| Q2 24 | $0.58 | — | ||
| Q1 24 | $2.08 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $31.3B |
| Total DebtLower is stronger | $25.8B | — |
| Stockholders' EquityBook value | $24.2B | $160.8B |
| Total Assets | $74.6B | $214.5B |
| Debt / EquityLower = less leverage | 1.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | — | ||
| Q3 25 | $181.0M | $31.3B | ||
| Q2 25 | $1.5B | $54.4B | ||
| Q1 25 | $360.0M | $41.7B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $93.0M | $20.2B | ||
| Q2 24 | $1.5B | $19.0B | ||
| Q1 24 | $169.0M | $43.0B |
| Q4 25 | $25.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $24.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $24.2B | — | ||
| Q3 25 | $24.2B | $160.8B | ||
| Q2 25 | $23.8B | $154.0B | ||
| Q1 25 | $23.8B | $147.8B | ||
| Q4 24 | $22.0B | — | ||
| Q3 24 | $21.9B | $135.6B | ||
| Q2 24 | $21.6B | $134.2B | ||
| Q1 24 | $21.6B | $130.5B |
| Q4 25 | $74.6B | — | ||
| Q3 25 | $71.8B | $214.5B | ||
| Q2 25 | $71.5B | $208.5B | ||
| Q1 25 | $70.7B | $200.9B | ||
| Q4 24 | $70.6B | — | ||
| Q3 24 | $68.6B | $184.9B | ||
| Q2 24 | $67.9B | $183.3B | ||
| Q1 24 | $66.7B | $195.1B |
| Q4 25 | 1.07× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.13× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $1.5B | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.8B |
| FCF MarginFCF / Revenue | — | 44.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 4.97× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | — | ||
| Q3 25 | $504.0M | $1.8B | ||
| Q2 25 | $2.0B | $1.5B | ||
| Q1 25 | $837.0M | $1.7B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $392.0M | $1.5B | ||
| Q2 24 | $1.3B | $898.8M | ||
| Q1 24 | $573.0M | $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 | 4.97× | — | ||
| Q3 25 | 0.73× | 1.47× | ||
| Q2 25 | 8.04× | 1.20× | ||
| Q1 25 | 1.06× | 1.15× | ||
| Q4 24 | 4.23× | — | ||
| Q3 24 | 0.67× | 1.58× | ||
| Q2 24 | 6.63× | 0.96× | ||
| Q1 24 | 0.80× | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ED
| Electricity | $2.9B | 73% |
| Oil And Gas Purchased | $923.0M | 23% |
| Steam Plant | $189.0M | 5% |
| Con Edison Transmission | $1.0M | 0% |
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% |
