NTES vs. SE

Last updated Apr 2, 2026

Compare and contrast key facts about NetEase, Inc. (NTES) and Sea Limited (SE).

Performance

NTES vs. SE - Performance Comparison

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

NTES vs. SE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NTES NetEase, Inc.	-17.32%	58.28%	-1.73%	30.59%	-27.35%	7.11%	57.88%	34.66%	-31.31%	25.02%
SE Sea Limited	-35.60%	20.24%	161.98%	-22.16%	-76.74%	12.39%	394.90%	255.30%	-15.08%	-18.02%

Fundamentals

Market Cap NTES : $72.73B SE : $52.54B
EPS NTES : $52.26 SE : $2.55
PE Ratio NTES : 2.16 SE : 32.23
PEG Ratio NTES : 0.10 SE : 0.15
PS Ratio NTES : 0.65 SE : 2.23
PB Ratio NTES : 0.45 SE : 4.19
Total Revenue (TTM) NTES : $112.25B SE : $22.94B
Gross Profit (TTM) NTES : $72.16B SE : $10.24B
EBITDA (TTM) NTES : $37.96B SE : $2.21B

Returns By Period

In the year-to-date period, NTES achieves a -17.32% return, which is significantly higher than SE's -35.60% 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%

SE

• 1D: -0.78%
• 1M: -21.91%
• YTD: -35.60%
• 6M: -54.86%
• 1Y: -37.97%
• 3Y*: -1.72%
• 5Y*: -19.06%
• 10Y*: —

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

Return for Risk

NTES vs. SE — 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

SE

SE Risk / Return Rank: 13
SE Sharpe Ratio Rank: 10
SE Sortino Ratio Rank: 12
SE Omega Ratio Rank: 12
SE Calmar Ratio Rank: 20
SE Martin Ratio Rank: 13

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. SE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NetEase, Inc. (NTES) and Sea Limited (SE). 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	SE	Difference
Sharpe ratio Return per unit of total volatility	0.25	-0.73	+0.98
Sortino ratio Return per unit of downside risk	0.64	-0.89	+1.54
Omega ratio Gain probability vs. loss probability	1.08	0.88	+0.19
Calmar ratio Return relative to maximum drawdown	0.40	-0.62	+1.01
Martin ratio Return relative to average drawdown	0.93	-1.36	+2.28
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. SE - Sharpe Ratio Comparison

The current NTES Sharpe Ratio is 0.25, which is higher than the SE Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of NTES and SE, 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	SE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.25	-0.73	+0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	-0.30	+0.37
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	0.34	+0.09

Correlation

The correlation between NTES and SE is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NTES vs. SE - Dividend Comparison

NTES's dividend yield for the trailing twelve months is around 2.64%, while SE 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%
SE Sea Limited	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. SE - Drawdown Comparison

The maximum NTES drawdown since its inception was -96.41%, which is greater than SE's maximum drawdown of -90.51%. Use the drawdown chart below to compare losses from any high point for NTES and SE.

Drawdown Indicators

	NTES	SE	Difference
Max Drawdown Largest peak-to-trough decline	-96.41%	-90.51%	-5.90%
Max Drawdown (1Y) Largest decline over 1 year	-30.46%	-60.22%	+29.76%
Max Drawdown (5Y) Largest decline over 5 years	-52.57%	-90.51%	+37.94%
Max Drawdown (10Y) Largest decline over 10 years	-57.34%	—	—
Current Drawdown Current decline from peak	-28.30%	-77.61%	+49.31%
Average Drawdown Average peak-to-trough decline	-24.58%	-43.36%	+18.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.07%	27.31%	-14.24%

Volatility

NTES vs. SE - Volatility Comparison

The current volatility for NetEase, Inc. (NTES) is 7.64%, while Sea Limited (SE) has a volatility of 14.95%. This indicates that NTES experiences smaller price fluctuations and is considered to be less risky than SE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NTES	SE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	14.95%	-7.31%
Volatility (6M) Calculated over the trailing 6-month period	21.24%	36.91%	-15.67%
Volatility (1Y) Calculated over the trailing 1-year period	33.72%	52.29%	-18.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.83%	64.17%	-20.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.90%	62.82%	-20.92%

Financials

NTES vs. SE - Profitability Comparison

The chart below illustrates the profitability comparison between NetEase, Inc. and Sea Limited 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%.

SE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Sea Limited reported a gross profit of 3.00B and revenue of 6.85B. Therefore, the gross margin over that period was 43.8%.

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%.

SE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Sea Limited reported an operating income of 537.73M and revenue of 6.85B, resulting in an operating margin of 7.9%.

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%.

SE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Sea Limited reported a net income of 397.10M and revenue of 6.85B, resulting in a net margin of 5.8%.