NTES vs. TCEHY
Compare and contrast key facts about NetEase, Inc. (NTES) and Tencent Holdings Limited (TCEHY).
Performance
NTES vs. TCEHY - Performance Comparison
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NTES vs. TCEHY - 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% | 62.21% |
TCEHY Tencent Holdings Limited | -17.05% | 45.23% | 41.92% | -5.48% | -24.97% | -18.69% | 50.09% | 21.93% | -23.83% | 115.30% |
Fundamentals
NTES:
$72.73B
TCEHY:
$589.49B
NTES:
$52.26
TCEHY:
$24.17
NTES:
2.16
TCEHY:
2.63
NTES:
0.10
TCEHY:
0.33
NTES:
0.65
TCEHY:
0.79
NTES:
0.45
TCEHY:
0.51
NTES:
$112.25B
TCEHY:
$748.08B
NTES:
$72.16B
TCEHY:
$416.51B
NTES:
$37.96B
TCEHY:
$308.68B
Returns By Period
The year-to-date returns for both investments are quite close, with NTES having a -17.32% return and TCEHY slightly higher at -17.05%. Over the past 10 years, NTES has outperformed TCEHY with an annualized return of 16.77%, while TCEHY has yielded a comparatively lower 13.36% annualized 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%
TCEHY
- 1D
- 0.44%
- 1M
- -3.13%
- YTD
- -17.05%
- 6M
- -25.96%
- 1Y
- -0.79%
- 3Y*
- 9.99%
- 5Y*
- -3.30%
- 10Y*
- 13.36%
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Return for Risk
NTES vs. TCEHY — Risk / Return Rank
NTES
TCEHY
NTES vs. TCEHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NetEase, Inc. (NTES) and Tencent Holdings Limited (TCEHY). 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 | TCEHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.25 | -0.03 | +0.28 |
Sortino ratioReturn per unit of downside risk | 0.64 | 0.20 | +0.45 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.02 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.40 | 0.01 | +0.39 |
Martin ratioReturn relative to average drawdown | 0.93 | 0.03 | +0.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NTES | TCEHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.25 | -0.03 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | -0.08 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.35 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.67 | -0.24 |
Correlation
The correlation between NTES and TCEHY is 0.46, 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. TCEHY - Dividend Comparison
NTES's dividend yield for the trailing twelve months is around 2.64%, more than TCEHY's 0.91% yield.
| 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% |
TCEHY Tencent Holdings Limited | 0.91% | 0.76% | 0.82% | 6.67% | 4.15% | 0.35% | 0.19% | 0.23% | 0.26% | 0.29% | 0.51% | 0.21% |
Drawdowns
NTES vs. TCEHY - Drawdown Comparison
The maximum NTES drawdown since its inception was -96.41%, which is greater than TCEHY's maximum drawdown of -73.17%. Use the drawdown chart below to compare losses from any high point for NTES and TCEHY.
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Drawdown Indicators
| NTES | TCEHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.41% | -73.17% | -23.24% |
Max Drawdown (1Y)Largest decline over 1 year | -30.46% | -30.12% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -52.57% | -68.59% | +16.02% |
Max Drawdown (10Y)Largest decline over 10 years | -57.34% | -73.17% | +15.83% |
Current DrawdownCurrent decline from peak | -28.30% | -28.48% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -24.58% | -19.54% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.07% | 11.14% | +1.93% |
Volatility
NTES vs. TCEHY - Volatility Comparison
The current volatility for NetEase, Inc. (NTES) is 7.64%, while Tencent Holdings Limited (TCEHY) has a volatility of 15.02%. This indicates that NTES experiences smaller price fluctuations and is considered to be less risky than TCEHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NTES | TCEHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.64% | 15.02% | -7.38% |
Volatility (6M)Calculated over the trailing 6-month period | 21.24% | 22.50% | -1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.72% | 31.74% | +1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.83% | 43.18% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.90% | 38.70% | +3.20% |
Financials
NTES vs. TCEHY - Financials Comparison
This section allows you to compare key financial metrics between NetEase, Inc. and Tencent Holdings Limited. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
NTES vs. TCEHY - Profitability Comparison
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%.
TCEHY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Tencent Holdings Limited reported a gross profit of 106.79B and revenue of 191.69B. Therefore, the gross margin over that period was 55.7%.
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%.
TCEHY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Tencent Holdings Limited reported an operating income of 58.21B and revenue of 191.69B, resulting in an operating margin of 30.4%.
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%.
TCEHY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Tencent Holdings Limited reported a net income of 57.46B and revenue of 191.69B, resulting in a net margin of 30.0%.