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Side-by-side financial comparison of GRAPHIC PACKAGING HOLDING CO (GPK) 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 $2.1B, roughly 1.9× GRAPHIC PACKAGING HOLDING CO). NetEase, Inc. runs the higher net margin — 31.0% vs 3.4%, a 27.6% gap on every dollar of revenue. Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% CAGR vs -3.5%).
Graphic Packaging International is a Fortune 500 corporation based in Atlanta, Georgia, United States. It designs and manufactures packaging solutions for commercial products. GPI manufactures paperboard and folding cartons for a wide range of popular consumer goods, particularly beverages and packaged food. The company operates paperboard mills in Kalamazoo, Michigan; Macon, Georgia; Middletown, Ohio; Prosperity, South Carolina; Texarkana, Texas; and West Monroe, Louisiana, that use recycled...
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.
GPK vs NTES — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $4.0B |
| Net Profit | $71.0M | $1.2B |
| Gross Margin | 14.1% | 64.1% |
| Operating Margin | 7.4% | 28.3% |
| Net Margin | 3.4% | 31.0% |
| Revenue YoY | 0.2% | — |
| Net Profit YoY | -48.6% | — |
| EPS (diluted) | $0.24 | — |
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 | $2.1B | — | ||
| Q3 25 | $2.2B | $4.0B | ||
| Q2 25 | $2.2B | $3.9B | ||
| Q1 25 | $2.1B | $4.0B | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.2B | $3.7B | ||
| Q2 24 | $2.2B | $3.5B | ||
| Q1 24 | $2.3B | $3.7B |
| Q4 25 | $71.0M | — | ||
| Q3 25 | $142.0M | $1.2B | ||
| Q2 25 | $104.0M | $1.3B | ||
| Q1 25 | $127.0M | $1.5B | ||
| Q4 24 | $138.0M | — | ||
| Q3 24 | $165.0M | $955.7M | ||
| Q2 24 | $190.0M | $939.6M | ||
| Q1 24 | $165.0M | $1.1B |
| Q4 25 | 14.1% | — | ||
| Q3 25 | 19.6% | 64.1% | ||
| Q2 25 | 18.7% | 64.7% | ||
| Q1 25 | 20.6% | 64.1% | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 22.3% | 62.9% | ||
| Q2 24 | 21.2% | 62.9% | ||
| Q1 24 | 23.0% | 63.4% |
| Q4 25 | 7.4% | — | ||
| Q3 25 | 10.7% | 28.3% | ||
| Q2 25 | 8.8% | 32.5% | ||
| Q1 25 | 10.5% | 36.2% | ||
| Q4 24 | 11.4% | — | ||
| Q3 24 | 12.6% | 27.3% | ||
| Q2 24 | 14.5% | 27.4% | ||
| Q1 24 | 12.4% | 28.4% |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 6.5% | 31.0% | ||
| Q2 25 | 4.7% | 32.6% | ||
| Q1 25 | 6.0% | 36.6% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 7.5% | 25.6% | ||
| Q2 24 | 8.5% | 26.8% | ||
| Q1 24 | 7.3% | 29.1% |
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.48 | — | ||
| Q2 25 | $0.34 | — | ||
| Q1 25 | $0.42 | — | ||
| Q4 24 | $0.46 | — | ||
| Q3 24 | $0.55 | — | ||
| Q2 24 | $0.62 | — | ||
| Q1 24 | $0.53 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $261.0M | $31.3B |
| Total DebtLower is stronger | $5.0B | — |
| Stockholders' EquityBook value | $3.3B | $160.8B |
| Total Assets | $11.8B | $214.5B |
| Debt / EquityLower = less leverage | 1.51× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $261.0M | — | ||
| Q3 25 | $120.0M | $31.3B | ||
| Q2 25 | $120.0M | $54.4B | ||
| Q1 25 | $129.0M | $41.7B | ||
| Q4 24 | $157.0M | — | ||
| Q3 24 | $126.0M | $20.2B | ||
| Q2 24 | $125.0M | $19.0B | ||
| Q1 24 | $136.0M | $43.0B |
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.5B | — | ||
| Q2 25 | $5.4B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $4.9B | — |
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.3B | $160.8B | ||
| Q2 25 | $3.2B | $154.0B | ||
| Q1 25 | $3.2B | $147.8B | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.0B | $135.6B | ||
| Q2 24 | $2.8B | $134.2B | ||
| Q1 24 | $2.9B | $130.5B |
| Q4 25 | $11.8B | — | ||
| Q3 25 | $11.9B | $214.5B | ||
| Q2 25 | $11.8B | $208.5B | ||
| Q1 25 | $11.5B | $200.9B | ||
| Q4 24 | $11.1B | — | ||
| Q3 24 | $11.2B | $184.9B | ||
| Q2 24 | $10.8B | $183.3B | ||
| Q1 24 | $11.3B | $195.1B |
| Q4 25 | 1.51× | — | ||
| Q3 25 | 1.67× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | 1.80× | — | ||
| Q4 24 | 1.71× | — | ||
| Q3 24 | 1.79× | — | ||
| Q2 24 | 1.75× | — | ||
| Q1 24 | 1.73× | — |
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 | $521.0M | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.8B |
| FCF MarginFCF / Revenue | — | 44.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 7.34× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $521.0M | — | ||
| Q3 25 | $227.0M | $1.8B | ||
| Q2 25 | $267.0M | $1.5B | ||
| Q1 25 | $-174.0M | $1.7B | ||
| Q4 24 | $489.0M | — | ||
| Q3 24 | $187.0M | $1.5B | ||
| Q2 24 | $161.0M | $898.8M | ||
| Q1 24 | $3.0M | $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 | 7.34× | — | ||
| Q3 25 | 1.60× | 1.47× | ||
| Q2 25 | 2.57× | 1.20× | ||
| Q1 25 | -1.37× | 1.15× | ||
| Q4 24 | 3.54× | — | ||
| Q3 24 | 1.13× | 1.58× | ||
| Q2 24 | 0.85× | 0.96× | ||
| Q1 24 | 0.02× | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
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% |
