Professional
Added to YB: 2024-03-05
Pitch date: 2024-03-04
NTES [bullish]
NetEase, Inc.
+37.4%
current return
Author Info
No bio for this author
Company Info
NetEase, Inc. engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally.
Market Cap
HKD 591.8B
Pitch Price
HKD 101.27
Price Target
158.00 (+14%)
Dividend
1.97%
EV/EBITDA
12.03
P/E
16.55
EV/Sales
4.07
Sector
Entertainment
Category
growth
NetEase, Inc.: R&D Strengths Are Key to Developing Next-Generation Blockbuster Games
NTES: #2 mobile game co w/ 30% margins, 70%+ rev from gaming. Cloud Village music streaming & Youdao online edu diversification. Narrow moat: 30%+ ROIC vs 8.5% WACC. $158 FVE = 20x '24 P/E, 11% 5yr rev CAGR. Risks: China regulation, gaming perception. High earnings growth & smart capital allocation.
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