vs
Gen Digital（GEN）与网易（NTES）财务数据对比。点击上方公司名可切换其他公司
网易的季度营收约是Gen Digital的3.2倍（$4.0B vs $1.2B）。网易净利率更高（31.0% vs 15.5%，领先15.5%）。过去两年Gen Digital的营收复合增速更高（13.4% vs 9.7%）
Gen Digital是一家跨国软件企业，双总部分别设于美国亚利桑那州坦佩和欧盟捷克布拉格，是财富500强企业及标普500指数成分股，同时在纳斯达克与布拉格证券交易所挂牌上市。公司主营网络安全软件、金融科技及相关服务，旗下拥有诺顿、Avast、LifeLock、AVG、CCleaner等多个知名品牌。
网易由丁磊于1997年6月创立，是全球规模领先的互联网与网络游戏企业之一。公司核心业务涵盖PC及移动端网络游戏的研发与发行，同时布局广告服务、电子邮箱服务及电商平台等多元业务板块。
GEN vs NTES — 直观对比
营收规模更大
NTES
是对方的3.2倍
$1.2B
净利率更高
NTES
高出15.5%
15.5%
两年增速更快
GEN
近两年复合增速
9.7%
损益表 — Q1 2026 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $4.0B |
| 净利润 | $192.0M | $1.2B |
| 毛利率 | 78.4% | 64.1% |
| 营业利润率 | 34.9% | 28.3% |
| 净利率 | 15.5% | 31.0% |
| 营收同比 | 28.5% | — |
| 净利润同比 | 6.1% | — |
| 每股收益（稀释后） | $0.31 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收GENNTES
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.3B | $4.0B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | $1.0B | $4.0B | ||
| Q4 24 | $986.0M | — | ||
| Q3 24 | $974.0M | $3.7B | ||
| Q2 24 | $965.0M | $3.5B |
净利润GENNTES
| Q1 26 | $192.0M | — | ||
| Q4 25 | $134.0M | — | ||
| Q3 25 | $135.0M | $1.2B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | $142.0M | $1.5B | ||
| Q4 24 | $159.0M | — | ||
| Q3 24 | $161.0M | $955.7M | ||
| Q2 24 | $181.0M | $939.6M |
毛利率GENNTES
| Q1 26 | 78.4% | — | ||
| Q4 25 | 78.2% | — | ||
| Q3 25 | 78.8% | 64.1% | ||
| Q2 25 | — | 64.7% | ||
| Q1 25 | 80.3% | 64.1% | ||
| Q4 24 | 80.4% | — | ||
| Q3 24 | 80.1% | 62.9% | ||
| Q2 24 | 80.3% | 62.9% |
营业利润率GENNTES
| Q1 26 | 34.9% | — | ||
| Q4 25 | 35.9% | — | ||
| Q3 25 | 35.5% | 28.3% | ||
| Q2 25 | — | 32.5% | ||
| Q1 25 | 41.3% | 36.2% | ||
| Q4 24 | 37.9% | — | ||
| Q3 24 | 41.3% | 27.3% | ||
| Q2 24 | 43.2% | 27.4% |
净利率GENNTES
| Q1 26 | 15.5% | — | ||
| Q4 25 | 11.0% | — | ||
| Q3 25 | 10.7% | 31.0% | ||
| Q2 25 | — | 32.6% | ||
| Q1 25 | 14.1% | 36.6% | ||
| Q4 24 | 16.1% | — | ||
| Q3 24 | 16.5% | 25.6% | ||
| Q2 24 | 18.8% | 26.8% |
每股收益（稀释后）GENNTES
| Q1 26 | $0.31 | — | ||
| Q4 25 | $0.21 | — | ||
| Q3 25 | $0.22 | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $0.22 | — | ||
| Q4 24 | $0.26 | — | ||
| Q3 24 | $0.26 | — | ||
| Q2 24 | $0.29 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $31.3B |
| 总债务越低越好 | $8.4B | — |
| 股东权益账面价值 | $2.3B | $160.8B |
| 总资产 | $15.8B | $214.5B |
| 负债/权益比越低杠杆越低 | 3.61× | — |
8季度趋势，按日历期对齐
现金及短期投资GENNTES
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $31.3B | ||
| Q2 25 | — | $54.4B | ||
| Q1 25 | $1.0B | $41.7B | ||
| Q4 24 | $883.0M | — | ||
| Q3 24 | $737.0M | $20.2B | ||
| Q2 24 | $644.0M | $19.0B |
总债务GENNTES
| Q1 26 | $8.4B | — | ||
| Q4 25 | $8.7B | — | ||
| Q3 25 | $8.9B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $8.3B | — | ||
| Q4 24 | $8.5B | — | ||
| Q3 24 | $8.5B | — | ||
| Q2 24 | $8.5B | — |
股东权益GENNTES
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.4B | $160.8B | ||
| Q2 25 | — | $154.0B | ||
| Q1 25 | $2.3B | $147.8B | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.1B | $135.6B | ||
| Q2 24 | $2.0B | $134.2B |
总资产GENNTES
| Q1 26 | $15.8B | — | ||
| Q4 25 | $16.1B | — | ||
| Q3 25 | $16.4B | $214.5B | ||
| Q2 25 | — | $208.5B | ||
| Q1 25 | $15.5B | $200.9B | ||
| Q4 24 | $15.4B | — | ||
| Q3 24 | $15.5B | $184.9B | ||
| Q2 24 | $15.4B | $183.3B |
负债/权益比GENNTES
| Q1 26 | 3.61× | — | ||
| Q4 25 | 3.54× | — | ||
| Q3 25 | 3.75× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 3.64× | — | ||
| Q4 24 | 3.94× | — | ||
| Q3 24 | 4.06× | — | ||
| Q2 24 | 4.33× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $1.8B |
| 自由现金流经营现金流 - 资本支出 | — | $1.8B |
| 自由现金流率自由现金流/营收 | — | 44.7% |
| 资本支出强度资本支出/营收 | — | 1.0% |
| 现金转化率经营现金流/净利润 | — | 1.47× |
| 过去12个月自由现金流最近4个季度 | — | $6.3B |
8季度趋势，按日历期对齐
经营现金流GENNTES
| Q1 26 | — | — | ||
| Q4 25 | $541.0M | — | ||
| Q3 25 | $409.0M | $1.8B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | $473.0M | $1.7B | ||
| Q4 24 | $326.0M | — | ||
| Q3 24 | $158.0M | $1.5B | ||
| Q2 24 | $264.0M | $898.8M |
自由现金流GENNTES
| Q1 26 | — | — | ||
| Q4 25 | $535.0M | — | ||
| Q3 25 | $405.0M | $1.8B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | $470.0M | $1.6B | ||
| Q4 24 | $318.0M | — | ||
| Q3 24 | $156.0M | $1.5B | ||
| Q2 24 | $262.0M | $875.6M |
自由现金流率GENNTES
| Q1 26 | — | — | ||
| Q4 25 | 43.9% | — | ||
| Q3 25 | 32.2% | 44.7% | ||
| Q2 25 | — | 38.3% | ||
| Q1 25 | 46.5% | 40.4% | ||
| Q4 24 | 32.3% | — | ||
| Q3 24 | 16.0% | 38.9% | ||
| Q2 24 | 27.2% | 25.0% |
资本支出强度GENNTES
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.3% | 1.0% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | 0.3% | 1.6% | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 0.2% | 1.4% | ||
| Q2 24 | 0.2% | 0.7% |
现金转化率GENNTES
| Q1 26 | — | — | ||
| Q4 25 | 4.04× | — | ||
| Q3 25 | 3.03× | 1.47× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | 3.33× | 1.15× | ||
| Q4 24 | 2.05× | — | ||
| Q3 24 | 0.98× | 1.58× | ||
| Q2 24 | 1.46× | 0.96× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
GEN
| Cyber Safety Platform | $819.0M | 66% |
| Trust Based Solutions | $421.0M | 34% |
| Net Interest Income On Notes Receivable | $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% |
