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Side-by-side financial comparison of NetEase, Inc. (NTES) and Molson Coors Beverage Company (TAP). Click either name above to swap in a different company.
NetEase, Inc. is the larger business by last-quarter revenue ($4.0B vs $3.1B, roughly 1.3× Molson Coors Beverage Company). NetEase, Inc. runs the higher net margin — 31.0% vs 7.6%, a 23.4% gap on every dollar of revenue. NetEase, Inc. produced more free cash flow last quarter ($1.8B vs $357.8M). Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% CAGR vs 1.2%).
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.
Molson Coors Beverage Company is a Canadian-American multinational drink and brewing company headquartered in Chicago, Illinois and Montreal, Quebec.
NTES vs TAP — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.0B | $3.1B |
| Net Profit | $1.2B | $238.3M |
| Gross Margin | 64.1% | 31.0% |
| Operating Margin | 28.3% | 10.4% |
| Net Margin | 31.0% | 7.6% |
| Revenue YoY | — | -3.6% |
| Net Profit YoY | — | -17.2% |
| EPS (diluted) | — | $1.32 |
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 | — | $3.1B | ||
| Q3 25 | $4.0B | $3.5B | ||
| Q2 25 | $3.9B | $3.7B | ||
| Q1 25 | $4.0B | $2.7B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | $3.7B | $3.6B | ||
| Q2 24 | $3.5B | $3.8B | ||
| Q1 24 | $3.7B | $3.0B |
| Q4 25 | — | $238.3M | ||
| Q3 25 | $1.2B | $-2.9B | ||
| Q2 25 | $1.3B | $428.7M | ||
| Q1 25 | $1.5B | $121.0M | ||
| Q4 24 | — | $287.8M | ||
| Q3 24 | $955.7M | $199.8M | ||
| Q2 24 | $939.6M | $427.0M | ||
| Q1 24 | $1.1B | $207.8M |
| Q4 25 | — | 31.0% | ||
| Q3 25 | 64.1% | 33.7% | ||
| Q2 25 | 64.7% | 34.3% | ||
| Q1 25 | 64.1% | 31.6% | ||
| Q4 24 | — | 32.0% | ||
| Q3 24 | 62.9% | 33.4% | ||
| Q2 24 | 62.9% | 34.6% | ||
| Q1 24 | 63.4% | 31.6% |
| Q4 25 | — | 10.4% | ||
| Q3 25 | 28.3% | -98.5% | ||
| Q2 25 | 32.5% | 15.6% | ||
| Q1 25 | 36.2% | 6.9% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | 27.3% | 12.5% | ||
| Q2 24 | 27.4% | 15.6% | ||
| Q1 24 | 28.4% | 10.3% |
| Q4 25 | — | 7.6% | ||
| Q3 25 | 31.0% | -84.0% | ||
| Q2 25 | 32.6% | 11.5% | ||
| Q1 25 | 36.6% | 4.5% | ||
| Q4 24 | — | 8.9% | ||
| Q3 24 | 25.6% | 5.5% | ||
| Q2 24 | 26.8% | 11.1% | ||
| Q1 24 | 29.1% | 6.8% |
| Q4 25 | — | $1.32 | ||
| Q3 25 | — | $-14.79 | ||
| Q2 25 | — | $2.13 | ||
| Q1 25 | — | $0.59 | ||
| Q4 24 | — | $1.39 | ||
| Q3 24 | — | $0.96 | ||
| Q2 24 | — | $2.03 | ||
| Q1 24 | — | $0.97 |
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 | $896.5M |
| Total DebtLower is stronger | — | $6.3B |
| Stockholders' EquityBook value | $160.8B | $10.2B |
| Total Assets | $214.5B | $22.7B |
| Debt / EquityLower = less leverage | — | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $896.5M | ||
| Q3 25 | $31.3B | $950.2M | ||
| Q2 25 | $54.4B | $613.8M | ||
| Q1 25 | $41.7B | $412.7M | ||
| Q4 24 | — | $969.3M | ||
| Q3 24 | $20.2B | $1.0B | ||
| Q2 24 | $19.0B | $1.6B | ||
| Q1 24 | $43.0B | $458.4M |
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $6.3B | ||
| Q2 25 | — | $6.3B | ||
| Q1 25 | — | $6.2B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.2B | ||
| Q2 24 | — | $7.0B | ||
| Q1 24 | — | $6.2B |
| Q4 25 | — | $10.2B | ||
| Q3 25 | $160.8B | $10.3B | ||
| Q2 25 | $154.0B | $13.4B | ||
| Q1 25 | $147.8B | $13.1B | ||
| Q4 24 | — | $13.1B | ||
| Q3 24 | $135.6B | $13.3B | ||
| Q2 24 | $134.2B | $13.2B | ||
| Q1 24 | $130.5B | $13.1B |
| Q4 25 | — | $22.7B | ||
| Q3 25 | $214.5B | $22.9B | ||
| Q2 25 | $208.5B | $26.8B | ||
| Q1 25 | $200.9B | $25.9B | ||
| Q4 24 | — | $26.1B | ||
| Q3 24 | $184.9B | $26.6B | ||
| Q2 24 | $183.3B | $27.4B | ||
| Q1 24 | $195.1B | $26.1B |
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.47× |
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 | $540.7M |
| Free Cash FlowOCF − Capex | $1.8B | $357.8M |
| FCF MarginFCF / Revenue | 44.7% | 11.4% |
| Capex IntensityCapex / Revenue | 1.0% | 5.9% |
| Cash ConversionOCF / Net Profit | 1.47× | 2.27× |
| TTM Free Cash FlowTrailing 4 quarters | $6.3B | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $540.7M | ||
| Q3 25 | $1.8B | $616.1M | ||
| Q2 25 | $1.5B | $718.3M | ||
| Q1 25 | $1.7B | $-90.7M | ||
| Q4 24 | — | $494.5M | ||
| Q3 24 | $1.5B | $521.2M | ||
| Q2 24 | $898.8M | $869.2M | ||
| Q1 24 | $1.3B | $25.4M |
| Q4 25 | — | $357.8M | ||
| Q3 25 | $1.8B | $483.0M | ||
| Q2 25 | $1.5B | $555.0M | ||
| Q1 25 | $1.6B | $-328.0M | ||
| Q4 24 | — | $383.4M | ||
| Q3 24 | $1.5B | $350.4M | ||
| Q2 24 | $875.6M | $691.7M | ||
| Q1 24 | $1.3B | $-189.3M |
| Q4 25 | — | 11.4% | ||
| Q3 25 | 44.7% | 13.9% | ||
| Q2 25 | 38.3% | 14.8% | ||
| Q1 25 | 40.4% | -12.2% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | 38.9% | 9.7% | ||
| Q2 24 | 25.0% | 18.0% | ||
| Q1 24 | 34.0% | -6.2% |
| Q4 25 | — | 5.9% | ||
| Q3 25 | 1.0% | 3.8% | ||
| Q2 25 | 0.7% | 4.4% | ||
| Q1 25 | 1.6% | 8.8% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | 1.4% | 4.7% | ||
| Q2 24 | 0.7% | 4.6% | ||
| Q1 24 | 1.5% | 7.0% |
| Q4 25 | — | 2.27× | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 1.20× | 1.68× | ||
| Q1 25 | 1.15× | -0.75× | ||
| Q4 24 | — | 1.72× | ||
| Q3 24 | 1.58× | 2.61× | ||
| Q2 24 | 0.96× | 2.04× | ||
| Q1 24 | 1.22× | 0.12× |
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% |
TAP
Segment breakdown not available.
