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Salesforce vs NetEase: revenue, profit, margins and growth compared

Salesforce brought in $41.5B of revenue in fiscal 2025, NetEase $16.1B in fiscal 2025. Revenue changed by +9.6% at Salesforce and +11.6% at NetEase on the year before, so NetEase grew faster. Salesforce kept 18.0% of its revenue as net profit, NetEase 30.0%. Free cash flow was $14.4B at Salesforce and $7.1B at NetEase.

Side by side, latest fiscal year

CRMNTES
Fiscal year endedFY2025 (January 31, 2026)FY2025 (December 31, 2025)
Revenue$41.5B$16.1B
Revenue growth+9.6%+11.6%
Net income$7.5B$4.8B
Net margin18.0%30.0%
Free cash flow$14.4B$7.1B
Free cash flow margin34.7%44.1%
Earnings per share (diluted)$7.80$1.50
Cash$7.3B$6.7B
Debt$14.4Bn/a
Price to earnings29.1n/a
Market value$186.1B$77.2B
Dividend yieldn/an/a
Rank by revenue in sector#18 of 731 · Technology#46 of 731 · Technology

Over the years

Revenue
CRM FY2019: $13.3BCRM FY2020: $17.1BCRM FY2020: $21.3BCRM FY2022: $26.5BCRM FY2023: $31.4BCRM FY2024: $34.9BCRM FY2025: $37.9BCRM FY2025: $41.5BNTES FY2018: $9.8BNTES FY2019: $8.5BNTES FY2020: $11.3BNTES FY2021: $13.7BNTES FY2022: $14BNTES FY2023: $14.6BNTES FY2024: $14.4BNTES FY2025: $16.1BFY18FY19FY20FY21FY22FY23FY24FY25
CRM $41.5BNTES $16.1B
Net income
CRM FY2019: $1.1BCRM FY2020: $126MCRM FY2020: $4.1BCRM FY2022: $1.4BCRM FY2023: $208MCRM FY2024: $4.1BCRM FY2025: $6.2BCRM FY2025: $7.5BNTES FY2018: $894.8MNTES FY2019: $3.1BNTES FY2020: $1.8BNTES FY2021: $2.6BNTES FY2022: $2.9BNTES FY2023: $4.1BNTES FY2024: $4.1BNTES FY2025: $4.8BFY18FY19FY20FY21FY22FY23FY24FY25
CRM $7.5BNTES $4.8B
Net margin
CRM FY2019: 8.4%CRM FY2020: 0.7%CRM FY2020: 19.2%CRM FY2022: 5.5%CRM FY2023: 0.7%CRM FY2024: 11.9%CRM FY2025: 16.4%CRM FY2025: 18.0%NTES FY2018: 9.2%NTES FY2019: 35.8%NTES FY2020: 16.4%NTES FY2021: 19.2%NTES FY2022: 21.1%NTES FY2023: 28.4%NTES FY2024: 28.2%NTES FY2025: 30.0%FY18FY19FY20FY21FY22FY23FY24FY25
CRM 18.0%NTES 30.0%
Revenue growth
CRM FY2020: +28.7%CRM FY2020: +24.3%CRM FY2022: +24.7%CRM FY2023: +18.3%CRM FY2024: +11.2%CRM FY2025: +8.7%CRM FY2025: +9.6%NTES FY2019: -12.9%NTES FY2020: +32.7%NTES FY2021: +21.8%NTES FY2022: +1.8%NTES FY2023: +4.2%NTES FY2024: -1.0%NTES FY2025: +11.6%FY19FY20FY21FY22FY23FY24FY25
CRM +9.6%NTES +11.6%
Free cash flow
CRM FY2019: $2.8BCRM FY2020: $3.7BCRM FY2020: $4.1BCRM FY2022: $5.3BCRM FY2023: $6.3BCRM FY2024: $9.5BCRM FY2025: $12.4BCRM FY2025: $14.4BNTES FY2018: $1.6BNTES FY2019: $2.3BNTES FY2020: $3.7BNTES FY2021: $3.7BNTES FY2022: $3.7BNTES FY2023: $4.7BNTES FY2024: $5.3BNTES FY2025: $7.1BFY18FY19FY20FY21FY22FY23FY24FY25
CRM $14.4BNTES $7.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Salesforce and NetEase

Which is bigger by revenue, Salesforce or NetEase?

Salesforce is bigger by revenue: $41.5B in fiscal 2025, against $16.1B for NetEase in fiscal 2025.

Which keeps more of its revenue as profit, Salesforce or NetEase?

Salesforce had a net margin of 18.0% in fiscal 2025; NetEase had 30.0% in fiscal 2025.

Which grew revenue faster, Salesforce or NetEase?

In their latest fiscal years revenue changed by +9.6% at Salesforce and +11.6% at NetEase.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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