vs
Side-by-side financial comparison of Expeditors International (EXPD) 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 $2.9B, roughly 1.4× Expeditors International). NetEase, Inc. runs the higher net margin — 31.0% vs 7.0%, a 24.0% gap on every dollar of revenue. NetEase, Inc. produced more free cash flow last quarter ($1.8B vs $270.3M). Over the past eight quarters, Expeditors International's revenue compounded faster (13.8% CAGR vs 9.7%).
Expeditors International of Washington, Inc. is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
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.
EXPD vs NTES — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $4.0B |
| Net Profit | $200.7M | $1.2B |
| Gross Margin | — | 64.1% |
| Operating Margin | 8.8% | 28.3% |
| Net Margin | 7.0% | 31.0% |
| Revenue YoY | -3.3% | — |
| Net Profit YoY | -14.9% | — |
| EPS (diluted) | $1.50 | — |
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 | $2.9B | — | ||
| Q3 25 | $2.9B | $4.0B | ||
| Q2 25 | $2.7B | $3.9B | ||
| Q1 25 | $2.7B | $4.0B | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | $3.7B | ||
| Q2 24 | $2.4B | $3.5B | ||
| Q1 24 | $2.2B | $3.7B |
| Q4 25 | $200.7M | — | ||
| Q3 25 | $222.3M | $1.2B | ||
| Q2 25 | $183.6M | $1.3B | ||
| Q1 25 | $203.8M | $1.5B | ||
| Q4 24 | $235.9M | — | ||
| Q3 24 | $229.6M | $955.7M | ||
| Q2 24 | $175.5M | $939.6M | ||
| Q1 24 | $169.2M | $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 | 8.8% | — | ||
| Q3 25 | 10.0% | 28.3% | ||
| Q2 25 | 9.3% | 32.5% | ||
| Q1 25 | 10.0% | 36.2% | ||
| Q4 24 | 10.2% | — | ||
| Q3 24 | 10.1% | 27.3% | ||
| Q2 24 | 9.2% | 27.4% | ||
| Q1 24 | 9.7% | 28.4% |
| Q4 25 | 7.0% | — | ||
| Q3 25 | 7.7% | 31.0% | ||
| Q2 25 | 6.9% | 32.6% | ||
| Q1 25 | 7.6% | 36.6% | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | 7.7% | 25.6% | ||
| Q2 24 | 7.2% | 26.8% | ||
| Q1 24 | 7.7% | 29.1% |
| Q4 25 | $1.50 | — | ||
| Q3 25 | $1.64 | — | ||
| Q2 25 | $1.34 | — | ||
| Q1 25 | $1.47 | — | ||
| Q4 24 | $1.68 | — | ||
| Q3 24 | $1.63 | — | ||
| Q2 24 | $1.24 | — | ||
| Q1 24 | $1.17 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $31.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.4B | $160.8B |
| Total Assets | $4.9B | $214.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | $31.3B | ||
| Q2 25 | $1.2B | $54.4B | ||
| Q1 25 | $1.3B | $41.7B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.3B | $20.2B | ||
| Q2 24 | $1.3B | $19.0B | ||
| Q1 24 | $1.4B | $43.0B |
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.3B | $160.8B | ||
| Q2 25 | $2.2B | $154.0B | ||
| Q1 25 | $2.3B | $147.8B | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.4B | $135.6B | ||
| Q2 24 | $2.2B | $134.2B | ||
| Q1 24 | $2.2B | $130.5B |
| Q4 25 | $4.9B | — | ||
| Q3 25 | $4.8B | $214.5B | ||
| Q2 25 | $4.8B | $208.5B | ||
| Q1 25 | $4.8B | $200.9B | ||
| Q4 24 | $4.8B | — | ||
| Q3 24 | $5.2B | $184.9B | ||
| Q2 24 | $4.8B | $183.3B | ||
| Q1 24 | $4.5B | $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 | $283.3M | $1.8B |
| Free Cash FlowOCF − Capex | $270.3M | $1.8B |
| FCF MarginFCF / Revenue | 9.5% | 44.7% |
| Capex IntensityCapex / Revenue | 0.5% | 1.0% |
| Cash ConversionOCF / Net Profit | 1.41× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $953.4M | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $283.3M | — | ||
| Q3 25 | $201.4M | $1.8B | ||
| Q2 25 | $179.2M | $1.5B | ||
| Q1 25 | $342.6M | $1.7B | ||
| Q4 24 | $249.7M | — | ||
| Q3 24 | $90.0M | $1.5B | ||
| Q2 24 | $126.8M | $898.8M | ||
| Q1 24 | $256.9M | $1.3B |
| Q4 25 | $270.3M | — | ||
| Q3 25 | $190.3M | $1.8B | ||
| Q2 25 | $163.3M | $1.5B | ||
| Q1 25 | $329.5M | $1.6B | ||
| Q4 24 | $239.7M | — | ||
| Q3 24 | $77.7M | $1.5B | ||
| Q2 24 | $118.8M | $875.6M | ||
| Q1 24 | $246.7M | $1.3B |
| Q4 25 | 9.5% | — | ||
| Q3 25 | 6.6% | 44.7% | ||
| Q2 25 | 6.2% | 38.3% | ||
| Q1 25 | 12.4% | 40.4% | ||
| Q4 24 | 8.1% | — | ||
| Q3 24 | 2.6% | 38.9% | ||
| Q2 24 | 4.9% | 25.0% | ||
| Q1 24 | 11.2% | 34.0% |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.4% | 1.0% | ||
| Q2 25 | 0.6% | 0.7% | ||
| Q1 25 | 0.5% | 1.6% | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.4% | 1.4% | ||
| Q2 24 | 0.3% | 0.7% | ||
| Q1 24 | 0.5% | 1.5% |
| Q4 25 | 1.41× | — | ||
| Q3 25 | 0.91× | 1.47× | ||
| Q2 25 | 0.98× | 1.20× | ||
| Q1 25 | 1.68× | 1.15× | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 0.39× | 1.58× | ||
| Q2 24 | 0.72× | 0.96× | ||
| Q1 24 | 1.52× | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
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% |
