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Side-by-side financial comparison of Huntington Ingalls Industries (HII) 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 $3.5B, roughly 1.1× Huntington Ingalls Industries). NetEase, Inc. runs the higher net margin — 31.0% vs 4.6%, a 26.4% gap on every dollar of revenue. NetEase, Inc. produced more free cash flow last quarter ($1.8B vs $516.0M). Over the past eight quarters, Huntington Ingalls Industries's revenue compounded faster (11.3% CAGR vs 9.7%).
Huntington Ingalls Industries, Inc. (HII) is the largest military shipbuilding company in the United States as well as a provider of professional services to partners in government and industry. HII was formed on 31 March 2011, as a divestiture from Northrop Grumman.
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.
HII vs NTES — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.5B | $4.0B |
| Net Profit | $159.0M | $1.2B |
| Gross Margin | — | 64.1% |
| Operating Margin | 4.9% | 28.3% |
| Net Margin | 4.6% | 31.0% |
| Revenue YoY | 15.7% | — |
| Net Profit YoY | 29.3% | — |
| EPS (diluted) | $4.06 | — |
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 | $3.5B | — | ||
| Q3 25 | $3.2B | $4.0B | ||
| Q2 25 | $3.1B | $3.9B | ||
| Q1 25 | $2.7B | $4.0B | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $2.7B | $3.7B | ||
| Q2 24 | $3.0B | $3.5B | ||
| Q1 24 | $2.8B | $3.7B |
| Q4 25 | $159.0M | — | ||
| Q3 25 | $145.0M | $1.2B | ||
| Q2 25 | $152.0M | $1.3B | ||
| Q1 25 | $149.0M | $1.5B | ||
| Q4 24 | $123.0M | — | ||
| Q3 24 | $101.0M | $955.7M | ||
| Q2 24 | $173.0M | $939.6M | ||
| Q1 24 | $153.0M | $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 | 4.9% | — | ||
| Q3 25 | 5.0% | 28.3% | ||
| Q2 25 | 5.3% | 32.5% | ||
| Q1 25 | 5.9% | 36.2% | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 3.0% | 27.3% | ||
| Q2 24 | 6.3% | 27.4% | ||
| Q1 24 | 5.5% | 28.4% |
| Q4 25 | 4.6% | — | ||
| Q3 25 | 4.5% | 31.0% | ||
| Q2 25 | 4.9% | 32.6% | ||
| Q1 25 | 5.4% | 36.6% | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | 3.7% | 25.6% | ||
| Q2 24 | 5.8% | 26.8% | ||
| Q1 24 | 5.5% | 29.1% |
| Q4 25 | $4.06 | — | ||
| Q3 25 | $3.68 | — | ||
| Q2 25 | $3.86 | — | ||
| Q1 25 | $3.79 | — | ||
| Q4 24 | $3.15 | — | ||
| Q3 24 | $2.56 | — | ||
| Q2 24 | $4.38 | — | ||
| Q1 24 | $3.87 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $31.3B |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $5.1B | $160.8B |
| Total Assets | $12.7B | $214.5B |
| Debt / EquityLower = less leverage | 0.53× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | $31.3B | ||
| Q2 25 | — | $54.4B | ||
| Q1 25 | — | $41.7B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $20.2B | ||
| Q2 24 | — | $19.0B | ||
| Q1 24 | $10.0M | $43.0B |
| Q4 25 | $2.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | $160.8B | ||
| Q2 25 | $4.9B | $154.0B | ||
| Q1 25 | $4.8B | $147.8B | ||
| Q4 24 | $4.7B | — | ||
| Q3 24 | $4.2B | $135.6B | ||
| Q2 24 | $4.2B | $134.2B | ||
| Q1 24 | $4.1B | $130.5B |
| Q4 25 | $12.7B | — | ||
| Q3 25 | $12.3B | $214.5B | ||
| Q2 25 | $12.1B | $208.5B | ||
| Q1 25 | $12.1B | $200.9B | ||
| Q4 24 | $12.1B | — | ||
| Q3 24 | $11.1B | $184.9B | ||
| Q2 24 | $11.3B | $183.3B | ||
| Q1 24 | $11.2B | $195.1B |
| Q4 25 | 0.53× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.58× | — | ||
| 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 | $650.0M | $1.8B |
| Free Cash FlowOCF − Capex | $516.0M | $1.8B |
| FCF MarginFCF / Revenue | 14.8% | 44.7% |
| Capex IntensityCapex / Revenue | 3.9% | 1.0% |
| Cash ConversionOCF / Net Profit | 4.09× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $794.0M | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $650.0M | — | ||
| Q3 25 | $118.0M | $1.8B | ||
| Q2 25 | $823.0M | $1.5B | ||
| Q1 25 | $-395.0M | $1.7B | ||
| Q4 24 | $391.0M | — | ||
| Q3 24 | $213.0M | $1.5B | ||
| Q2 24 | $-9.0M | $898.8M | ||
| Q1 24 | $-202.0M | $1.3B |
| Q4 25 | $516.0M | — | ||
| Q3 25 | $13.0M | $1.8B | ||
| Q2 25 | $727.0M | $1.5B | ||
| Q1 25 | $-462.0M | $1.6B | ||
| Q4 24 | $277.0M | — | ||
| Q3 24 | $125.0M | $1.5B | ||
| Q2 24 | $-99.0M | $875.6M | ||
| Q1 24 | $-277.0M | $1.3B |
| Q4 25 | 14.8% | — | ||
| Q3 25 | 0.4% | 44.7% | ||
| Q2 25 | 23.6% | 38.3% | ||
| Q1 25 | -16.9% | 40.4% | ||
| Q4 24 | 9.2% | — | ||
| Q3 24 | 4.5% | 38.9% | ||
| Q2 24 | -3.3% | 25.0% | ||
| Q1 24 | -9.9% | 34.0% |
| Q4 25 | 3.9% | — | ||
| Q3 25 | 3.3% | 1.0% | ||
| Q2 25 | 3.1% | 0.7% | ||
| Q1 25 | 2.5% | 1.6% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 3.2% | 1.4% | ||
| Q2 24 | 3.0% | 0.7% | ||
| Q1 24 | 2.7% | 1.5% |
| Q4 25 | 4.09× | — | ||
| Q3 25 | 0.81× | 1.47× | ||
| Q2 25 | 5.41× | 1.20× | ||
| Q1 25 | -2.65× | 1.15× | ||
| Q4 24 | 3.18× | — | ||
| Q3 24 | 2.11× | 1.58× | ||
| Q2 24 | -0.05× | 0.96× | ||
| Q1 24 | -1.32× | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HII
| Aircraftcarriers | $984.0M | 28% |
| Fixedpriceincentive | $758.0M | 22% |
| Submarines | $744.0M | 21% |
| Surfacecombatantsandcoastguardcutters | $452.0M | 13% |
| Amphibiousassaultships | $433.0M | 12% |
| Costtype | $123.0M | 4% |
| Otherprograms | $4.0M | 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% |
