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Side-by-side financial comparison of NetEase, Inc. (NTES) and Stanley Black & Decker (SWK). Click either name above to swap in a different company.
NetEase, Inc. is the larger business by last-quarter revenue ($4.0B vs $3.8B, roughly 1.1× Stanley Black & Decker). NetEase, Inc. runs the higher net margin — 31.0% vs 1.4%, a 29.6% gap on every dollar of revenue. NetEase, Inc. produced more free cash flow last quarter ($1.8B vs $155.3M). Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% CAGR vs 0.3%).
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.
Stanley Black & Decker, Inc., formerly known as The Stanley Works, is an American manufacturer of industrial tools and household hardware, and a provider of security products. Headquartered in the Greater Hartford city of New Britain, Connecticut, Stanley Black & Decker is the result of the merger of The Stanley Works and Black & Decker on March 12, 2010.
NTES vs SWK — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.0B | $3.8B |
| Net Profit | $1.2B | $51.4M |
| Gross Margin | 64.1% | 31.4% |
| Operating Margin | 28.3% | — |
| Net Margin | 31.0% | 1.4% |
| Revenue YoY | — | 0.1% |
| Net Profit YoY | — | -43.6% |
| EPS (diluted) | — | $0.34 |
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.
| Q3 25 | $4.0B | $3.8B | ||
| Q2 25 | $3.9B | $3.9B | ||
| Q1 25 | $4.0B | $3.7B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $3.7B | $3.8B | ||
| Q2 24 | $3.5B | $4.0B | ||
| Q1 24 | $3.7B | $3.9B | ||
| Q4 23 | — | $3.7B |
| Q3 25 | $1.2B | $51.4M | ||
| Q2 25 | $1.3B | $101.9M | ||
| Q1 25 | $1.5B | $90.4M | ||
| Q4 24 | — | $194.9M | ||
| Q3 24 | $955.7M | $91.1M | ||
| Q2 24 | $939.6M | $-11.2M | ||
| Q1 24 | $1.1B | $19.5M | ||
| Q4 23 | — | $-304.4M |
| Q3 25 | 64.1% | 31.4% | ||
| Q2 25 | 64.7% | 27.0% | ||
| Q1 25 | 64.1% | 29.9% | ||
| Q4 24 | — | 30.8% | ||
| Q3 24 | 62.9% | 29.9% | ||
| Q2 24 | 62.9% | 28.4% | ||
| Q1 24 | 63.4% | 28.6% | ||
| Q4 23 | — | 29.6% |
| Q3 25 | 28.3% | — | ||
| Q2 25 | 32.5% | — | ||
| Q1 25 | 36.2% | — | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | 27.3% | 10.6% | ||
| Q2 24 | 27.4% | 9.5% | ||
| Q1 24 | 28.4% | 8.3% | ||
| Q4 23 | — | -2.1% |
| Q3 25 | 31.0% | 1.4% | ||
| Q2 25 | 32.6% | 2.6% | ||
| Q1 25 | 36.6% | 2.4% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | 25.6% | 2.4% | ||
| Q2 24 | 26.8% | -0.3% | ||
| Q1 24 | 29.1% | 0.5% | ||
| Q4 23 | — | -8.1% |
| Q3 25 | — | $0.34 | ||
| Q2 25 | — | $0.67 | ||
| Q1 25 | — | $0.60 | ||
| Q4 24 | — | $1.29 | ||
| Q3 24 | — | $0.60 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | — | $0.13 | ||
| Q4 23 | — | $-2.02 |
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 | $268.3M |
| Total DebtLower is stronger | — | $5.3B |
| Stockholders' EquityBook value | $160.8B | $9.0B |
| Total Assets | $214.5B | $21.8B |
| Debt / EquityLower = less leverage | — | 0.59× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $31.3B | $268.3M | ||
| Q2 25 | $54.4B | $311.8M | ||
| Q1 25 | $41.7B | $344.8M | ||
| Q4 24 | — | $290.5M | ||
| Q3 24 | $20.2B | $298.7M | ||
| Q2 24 | $19.0B | $318.5M | ||
| Q1 24 | $43.0B | $476.6M | ||
| Q4 23 | — | $449.4M |
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $5.6B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | — | $6.1B | ||
| Q4 23 | — | $6.1B |
| Q3 25 | $160.8B | $9.0B | ||
| Q2 25 | $154.0B | $9.1B | ||
| Q1 25 | $147.8B | $8.8B | ||
| Q4 24 | — | $8.7B | ||
| Q3 24 | $135.6B | $8.9B | ||
| Q2 24 | $134.2B | $8.7B | ||
| Q1 24 | $130.5B | $8.9B | ||
| Q4 23 | — | $9.1B |
| Q3 25 | $214.5B | $21.8B | ||
| Q2 25 | $208.5B | $22.5B | ||
| Q1 25 | $200.9B | $22.5B | ||
| Q4 24 | — | $21.8B | ||
| Q3 24 | $184.9B | $22.5B | ||
| Q2 24 | $183.3B | $22.5B | ||
| Q1 24 | $195.1B | $23.9B | ||
| Q4 23 | — | $23.7B |
| Q3 25 | — | 0.59× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.63× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.69× | ||
| Q4 23 | — | 0.67× |
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 | $221.2M |
| Free Cash FlowOCF − Capex | $1.8B | $155.3M |
| FCF MarginFCF / Revenue | 44.7% | 4.1% |
| Capex IntensityCapex / Revenue | 1.0% | 1.8% |
| Cash ConversionOCF / Net Profit | 1.47× | 4.30× |
| TTM Free Cash FlowTrailing 4 quarters | $6.3B | $369.6M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $1.8B | $221.2M | ||
| Q2 25 | $1.5B | $214.3M | ||
| Q1 25 | $1.7B | $-420.0M | ||
| Q4 24 | — | $679.1M | ||
| Q3 24 | $1.5B | $285.8M | ||
| Q2 24 | $898.8M | $573.0M | ||
| Q1 24 | $1.3B | $-431.0M | ||
| Q4 23 | — | $769.3M |
| Q3 25 | $1.8B | $155.3M | ||
| Q2 25 | $1.5B | $134.7M | ||
| Q1 25 | $1.6B | $-485.0M | ||
| Q4 24 | — | $564.6M | ||
| Q3 24 | $1.5B | $199.3M | ||
| Q2 24 | $875.6M | $485.8M | ||
| Q1 24 | $1.3B | $-496.7M | ||
| Q4 23 | — | $647.0M |
| Q3 25 | 44.7% | 4.1% | ||
| Q2 25 | 38.3% | 3.4% | ||
| Q1 25 | 40.4% | -13.0% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | 38.9% | 5.3% | ||
| Q2 24 | 25.0% | 12.1% | ||
| Q1 24 | 34.0% | -12.8% | ||
| Q4 23 | — | 17.3% |
| Q3 25 | 1.0% | 1.8% | ||
| Q2 25 | 0.7% | 2.0% | ||
| Q1 25 | 1.6% | 1.7% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | 1.4% | 2.3% | ||
| Q2 24 | 0.7% | 2.2% | ||
| Q1 24 | 1.5% | 1.7% | ||
| Q4 23 | — | 3.3% |
| Q3 25 | 1.47× | 4.30× | ||
| Q2 25 | 1.20× | 2.10× | ||
| Q1 25 | 1.15× | -4.65× | ||
| Q4 24 | — | 3.48× | ||
| Q3 24 | 1.58× | 3.14× | ||
| Q2 24 | 0.96× | — | ||
| Q1 24 | 1.22× | -22.10× | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
