NTES vs. BILI

Last updated Apr 2, 2026

Compare and contrast key facts about NetEase, Inc. (NTES) and Bilibili Inc. (BILI).

Performance

NTES vs. BILI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NetEase, Inc. (NTES) and Bilibili Inc. (BILI). The values are adjusted to include any dividend payments, if applicable.

NTES vs. BILI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NTES NetEase, Inc.	-17.32%	58.28%	-1.73%	30.59%	-27.35%	7.11%	57.88%	34.66%	-13.77%
BILI Bilibili Inc.	-6.91%	35.78%	48.81%	-48.63%	-48.94%	-45.87%	360.37%	27.62%	29.80%

Fundamentals

Market Cap NTES : $72.73B BILI : $10.47B
EPS NTES : $52.26 BILI : $2.64
PE Ratio NTES : 2.16 BILI : 8.68
PS Ratio NTES : 0.65 BILI : 0.34
PB Ratio NTES : 0.45 BILI : 0.67
Total Revenue (TTM) NTES : $112.25B BILI : $30.23B
Gross Profit (TTM) NTES : $72.16B BILI : $11.11B
EBITDA (TTM) NTES : $37.96B BILI : $1.84B

Returns By Period

In the year-to-date period, NTES achieves a -17.32% return, which is significantly lower than BILI's -6.91% return.

NTES

• 1D: 0.64%
• 1M: -1.22%
• YTD: -17.32%
• 6M: -23.84%
• 1Y: 8.47%
• 3Y*: 11.19%
• 5Y*: 3.25%
• 10Y*: 16.77%

BILI

• 1D: 1.46%
• 1M: -15.94%
• YTD: -6.91%
• 6M: -19.63%
• 1Y: 20.54%
• 3Y*: -0.87%
• 5Y*: -27.21%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

NTES vs. BILI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NTES

NTES Risk / Return Rank: 48
NTES Sharpe Ratio Rank: 50
NTES Sortino Ratio Rank: 45
NTES Omega Ratio Rank: 44
NTES Calmar Ratio Rank: 50
NTES Martin Ratio Rank: 51

BILI

BILI Risk / Return Rank: 53
BILI Sharpe Ratio Rank: 55
BILI Sortino Ratio Rank: 52
BILI Omega Ratio Rank: 49
BILI Calmar Ratio Rank: 52
BILI Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NTES vs. BILI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NetEase, Inc. (NTES) and Bilibili Inc. (BILI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NTES	BILI	Difference
Sharpe ratio Return per unit of total volatility	0.25	0.40	-0.15
Sortino ratio Return per unit of downside risk	0.64	0.92	-0.27
Omega ratio Gain probability vs. loss probability	1.08	1.11	-0.03
Calmar ratio Return relative to maximum drawdown	0.40	0.50	-0.10
Martin ratio Return relative to average drawdown	0.93	1.37	-0.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NTES vs. BILI - Sharpe Ratio Comparison

The current NTES Sharpe Ratio is 0.25, which is lower than the BILI Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of NTES and BILI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NTES	BILI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.25	0.40	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	-0.34	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.13	+0.30

Correlation

The correlation between NTES and BILI is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

NTES vs. BILI - Dividend Comparison

NTES's dividend yield for the trailing twelve months is around 2.64%, while BILI has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NTES NetEase, Inc.	2.64%	2.21%	2.74%	1.88%	2.10%	0.80%	0.97%	3.19%	0.71%	1.05%	1.36%	0.98%
BILI Bilibili Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

NTES vs. BILI - Drawdown Comparison

The maximum NTES drawdown since its inception was -96.41%, roughly equal to the maximum BILI drawdown of -94.30%. Use the drawdown chart below to compare losses from any high point for NTES and BILI.

Drawdown Indicators

	NTES	BILI	Difference
Max Drawdown Largest peak-to-trough decline	-96.41%	-94.30%	-2.11%
Max Drawdown (1Y) Largest decline over 1 year	-30.46%	-39.62%	+9.16%
Max Drawdown (5Y) Largest decline over 5 years	-52.57%	-92.97%	+40.40%
Max Drawdown (10Y) Largest decline over 10 years	-57.34%	—	—
Current Drawdown Current decline from peak	-28.30%	-85.36%	+57.06%
Average Drawdown Average peak-to-trough decline	-24.58%	-57.28%	+32.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.07%	14.41%	-1.34%

Volatility

NTES vs. BILI - Volatility Comparison

The current volatility for NetEase, Inc. (NTES) is 7.64%, while Bilibili Inc. (BILI) has a volatility of 16.51%. This indicates that NTES experiences smaller price fluctuations and is considered to be less risky than BILI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NTES	BILI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	16.51%	-8.87%
Volatility (6M) Calculated over the trailing 6-month period	21.24%	35.52%	-14.28%
Volatility (1Y) Calculated over the trailing 1-year period	33.72%	51.30%	-17.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.83%	79.37%	-35.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.90%	74.26%	-32.36%

Financials

NTES vs. BILI - Profitability Comparison

The chart below illustrates the profitability comparison between NetEase, Inc. and Bilibili Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NTES - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, NetEase, Inc. reported a gross profit of 17.45B and revenue of 27.17B. Therefore, the gross margin over that period was 64.2%.

BILI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Bilibili Inc. reported a gross profit of 3.07B and revenue of 8.21B. Therefore, the gross margin over that period was 37.5%.

NTES - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, NetEase, Inc. reported an operating income of 8.20B and revenue of 27.17B, resulting in an operating margin of 30.2%.

BILI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Bilibili Inc. reported an operating income of 496.93M and revenue of 8.21B, resulting in an operating margin of 6.1%.

NTES - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, NetEase, Inc. reported a net income of 6.16B and revenue of 27.17B, resulting in a net margin of 22.7%.

BILI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Bilibili Inc. reported a net income of 506.31M and revenue of 8.21B, resulting in a net margin of 6.2%.