NetEase Inc. (NTES) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, NTES scores 71 out of 100 with a letter grade of B- and a verdict label of "Roarable Buy — Sound Institutional Accumulation." The fundamental cash engine pillar scores 18 of 20, supported by ROIC of 20.7% and an FCF yield of 9.93%, which is the strongest component of the rating and points to high capital efficiency and strong cash generation relative to the share price. The whale 13F flow pillar scores 5 of 20, the weakest pillar, reflecting institutional accumulation and options positioning that the rating treats as limited; this is the component most at odds with the verdict label. The insider conviction pillar scores 19 of 20, driven by SEC Form 4 and Congressional PTR cluster flow, indicating insider-side activity the rating reads as supportive. The macro regime fit pillar scores 14 of 20, with a beta of 1.38 signaling above-market price sensitivity to broader market moves. The forensic balance sheet pillar scores 15 of 20, supported by an Altman Z-Score of 8.01, a Piotroski F-Score of 8 out of 9, and a Debt/Equity ratio of 0.15. For a prospective investor, the upside drivers are the cash generation, capital efficiency, insider signal, and balance sheet strength; the valuation tradeoff is that the stock trades at a P/E (TTM) of 17.9 and a Forward P/E of 16.6 against an EV/EBITDA of 13, and the weak institutional flow pillar means the rating's accumulation thesis rests more on insider and fundamental signals than on broad institutional participation. The rating is a structured score from the source data and does not constitute a recommendation.

Per the profile, NetEase Inc. (NTES) is a NASDAQ-listed issuer in the Technology sector and the Computer Software: Prepackaged Software industry, with a market capitalization of $71.5B. Per the market data, the company reports a gross margin of 64.3%, an operating margin of 31.8%, and a net margin of 24.8%. Not available in source data for product lines, customer base, or revenue model details.

Per the SEC financials, revenue rose from $14573.2M in FY 2023 to $16105.3M in FY 2025, and operating income rose from $3902.8M to $5124.3M over the same span. Net income is reported as $0.0M in each period and EPS as N/A, so profitability conclusions from the net income line cannot be drawn from the source. Per the market data, ROIC is 20.7% and the net margin is 24.8%. Per the Roarable RQD rating, the Altman Z-Score is 8.01, the Piotroski F-Score is 8 out of 9, and the Debt/Equity ratio is 0.15. Debt moved from $58.6M in FY 2024 to $3623.6M in FY 2025 per the SEC financials, while cash declined from $7039.5M to $6744.9M.

Per the recent news and catalysts section, six items reference NTES. The ChartMill item (headline: "NetEase (NASDAQ:NTES): A GARP Case Built on Growth at a Reasonable Price") is tagged GREEN and CATALYST. The Yahoo Finance, GuruFocus, Seeking Alpha, MarketBeat, and Stock Titan items are tagged YELLOW and MARKET WIRE. Per the GuruFocus headline, the stock is described as up 3.9% and still undervalued. Per the Seeking Alpha headline, a Q3 2026 preview is framed as having "mixed feelings" ahead of the print. Per the MarketBeat headline, Ninety One UK Ltd reduced its position. Per the Stock Titan headline, the September update covers authorized capital and issued shares. Risk watch items per the news section include the mixed earnings-preview framing and the reported institutional position reduction. Per the Butterfly Supply-Chain Graph, the supply chain is listed as NONE, there are no butterfly links, and there are no proprietary signals. Per the market data, the stock closed at 112.1, down 0.31% on a volume of 948,710 shares.

Per the Butterfly Supply-Chain Graph, the supply chain is NONE, with no upstream or downstream links and no proprietary signals recorded. Not available in source data for upstream suppliers, downstream customers, or sector correlations. Investors should note that the absence of mapped links means the source data cannot identify 2nd-order bottlenecks; the sector classification (Technology, Computer Software: Prepackaged Software) and the beta of 1.38 are the only available context for ripple effects.

• Net income and EPS are reported as $0.0M and N/A across all periods; what is the actual reported net income and per-share earnings?
• What drove the increase in debt from $58.6M in FY 2024 to $3623.6M in FY 2025, and what is the repayment profile?
• What are the underlying Form 4, 13F, and Congressional PTR transactions behind the insider and whale pillar scores?
• What are the company's principal product lines, customer segments, and revenue sources?
• What do the Q3 2026 results, referenced as an upcoming print, show when reported?