How do NetEase, Inc. and V F CORP compare by revenue?

NetEase, Inc. reported revenue of $4.0B in Q3 FY2025, while V F CORP reported $2.9B in Q3 FY2026. NetEase, Inc. is 1.4× larger by last-quarter revenue.

Which has a higher gross margin, NetEase, Inc. or V F CORP?

NetEase, Inc.'s gross margin is 64.1% vs V F CORP's 56.6%. NetEase, Inc. converts more of each revenue dollar into gross profit.

Which has a higher net margin, NetEase, Inc. or V F CORP?

NetEase, Inc.'s net margin is 31.0% vs V F CORP's 10.5%. NetEase, Inc. has the higher bottom-line margin.

Which generates more free cash flow, NetEase, Inc. or V F CORP?

NetEase, Inc. generated $1.8B of free cash flow last quarter, versus $977.9M for V F CORP. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for NetEase, Inc. vs V F CORP?

Over the trailing 8 quarters, NetEase, Inc. compounded revenue at roughly 9.7% per year, versus 10.1% for V F CORP. V F CORP has the faster medium-term growth trajectory.

Where does this NTES vs VFC data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of NetEase, Inc. (NTES) and V F CORP (VFC). 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× V F CORP). NetEase, Inc. runs the higher net margin — 31.0% vs 10.5%, a 20.5% gap on every dollar of revenue. NetEase, Inc. produced more free cash flow last quarter ($1.8B vs $977.9M). Over the past eight quarters, V F CORP's revenue compounded faster (10.1% CAGR vs 9.7%).

NetEase, Inc.NTESEarnings & Financial Report

Nasdaq · Information Technology · Services-Prepackaged Software

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.

V F CORPVFCEarnings & Financial Report

NYSE · Consumer Discretionary · Men's & Boys' Furnishgs, Work Clothg, & Allied Garments

The F. W. Woolworth Company was a retail company and one of the pioneers of the five-and-dime store. It was among the most successful American and international five-and-dime businesses, setting trends and creating the modern retail model that stores worldwide follow today.

NTES vs VFC — Head-to-Head

Bigger by revenue

NTES

1.4× larger

$4.0B

$2.9B

Higher net margin

NTES

20.5% more per $

31.0%

10.5%

More free cash flow

NTES

$801.1M more FCF

$1.8B

$977.9M

Faster 2-yr revenue CAGR

VFC

Annualised

10.1%

9.7%

Income Statement — Q3 FY2025 vs Q3 FY2026

Metric	NTES	VFC
Revenue	$4.0B	$2.9B
Net Profit	$1.2B	$300.8M
Gross Margin	64.1%	56.6%
Operating Margin	28.3%	10.1%
Net Margin	31.0%	10.5%
Revenue YoY	—	1.5%
Net Profit YoY	—	79.3%
EPS (diluted)	—	$0.76

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.

Revenue

NTES

VFC

Q4 25	—	$2.9B
Q3 25	$4.0B	$2.8B
Q2 25	$3.9B	$1.8B
Q1 25	$4.0B	$2.0B
Q4 24	—	$2.8B
Q3 24	$3.7B	$2.8B
Q2 24	$3.5B	$1.9B
Q1 24	$3.7B	$2.4B

Net Profit

NTES

VFC

Q4 25	—	$300.8M
Q3 25	$1.2B	$189.8M
Q2 25	$1.3B	$-116.4M
Q1 25	$1.5B	$-150.8M
Q4 24	—	$167.8M
Q3 24	$955.7M	$52.2M
Q2 24	$939.6M	$-258.9M
Q1 24	$1.1B	$-418.3M

Gross Margin

NTES

VFC

Q4 25	—	56.6%
Q3 25	64.1%	52.2%
Q2 25	64.7%	53.9%
Q1 25	64.1%	52.7%
Q4 24	—	56.3%
Q3 24	62.9%	52.2%
Q2 24	62.9%	52.0%
Q1 24	63.4%	48.4%

Operating Margin

NTES

VFC

Q4 25	—	10.1%
Q3 25	28.3%	11.2%
Q2 25	32.5%	-4.9%
Q1 25	36.2%	2.2%
Q4 24	—	8.0%
Q3 24	27.3%	9.9%
Q2 24	27.4%	-12.6%
Q1 24	28.4%	-15.0%

Net Margin

NTES

VFC

Q4 25	—	10.5%
Q3 25	31.0%	6.8%
Q2 25	32.6%	-6.6%
Q1 25	36.6%	-7.5%
Q4 24	—	5.9%
Q3 24	25.6%	1.9%
Q2 24	26.8%	-13.6%
Q1 24	29.1%	-17.6%

EPS (diluted)

NTES

VFC

Q4 25	—	$0.76
Q3 25	—	$0.48
Q2 25	—	$-0.30
Q1 25	—	$-0.37
Q4 24	—	$0.43
Q3 24	—	$0.13
Q2 24	—	$-0.67
Q1 24	—	$-1.07

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	NTES	VFC
Cash + ST InvestmentsLiquidity on hand	$31.3B	$1.5B
Total DebtLower is stronger	—	$3.6B
Stockholders' EquityBook value	$160.8B	$1.8B
Total Assets	$214.5B	$10.4B
Debt / EquityLower = less leverage	—	1.99×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

NTES

VFC

Q4 25	—	$1.5B
Q3 25	$31.3B	$419.1M
Q2 25	$54.4B	$642.4M
Q1 25	$41.7B	$429.4M
Q4 24	—	$1.4B
Q3 24	$20.2B	$492.2M
Q2 24	$19.0B	$637.4M
Q1 24	$43.0B	$674.6M

Total Debt

NTES

VFC

Q4 25	—	$3.6B
Q3 25	—	$3.5B
Q2 25	—	$3.6B
Q1 25	—	$3.4B
Q4 24	—	$3.9B
Q3 24	—	$4.0B
Q2 24	—	$3.9B
Q1 24	—	$4.7B

Stockholders' Equity

NTES

VFC

Q4 25	—	$1.8B
Q3 25	$160.8B	$1.5B
Q2 25	$154.0B	$1.3B
Q1 25	$147.8B	$1.5B
Q4 24	—	$1.7B
Q3 24	$135.6B	$1.4B
Q2 24	$134.2B	$1.4B
Q1 24	$130.5B	$1.7B

Total Assets

NTES

VFC

Q4 25	—	$10.4B
Q3 25	$214.5B	$10.6B
Q2 25	$208.5B	$10.2B
Q1 25	$200.9B	$9.4B
Q4 24	—	$10.6B
Q3 24	$184.9B	$12.2B
Q2 24	$183.3B	$11.5B
Q1 24	$195.1B	$11.6B

Debt / Equity

NTES

VFC

Q4 25	—	1.99×
Q3 25	—	2.40×
Q2 25	—	2.76×
Q1 25	—	2.30×
Q4 24	—	2.31×
Q3 24	—	2.86×
Q2 24	—	2.84×
Q1 24	—	2.84×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	NTES	VFC
Operating Cash FlowLast quarter	$1.8B	$1.0B
Free Cash FlowOCF − Capex	$1.8B	$977.9M
FCF MarginFCF / Revenue	44.7%	34.0%
Capex IntensityCapex / Revenue	1.0%	1.1%
Cash ConversionOCF / Net Profit	1.47×	3.36×
TTM Free Cash FlowTrailing 4 quarters	$6.3B	$357.6M