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

Microsoft brought in $331.8B of revenue in fiscal 2026, NetEase $16.1B in fiscal 2025. Revenue changed by +17.8% at Microsoft and +11.6% at NetEase on the year before, so Microsoft grew faster. Microsoft kept 40.3% of its revenue as net profit, NetEase 30.0%. Free cash flow was $67B at Microsoft and $7.1B at NetEase.

Side by side, latest fiscal year

MSFTNTES
Fiscal year endedFY2026 (June 30, 2026)FY2025 (December 31, 2025)
Revenue$331.8B$16.1B
Revenue growth+17.8%+11.6%
Net income$133.7B$4.8B
Net margin40.3%30.0%
Free cash flow$67B$7.1B
Free cash flow margin20.2%44.1%
Earnings per share (diluted)$17.95$1.50
Cash$20.9B$6.7B
Debt$40.3Bn/a
Price to earnings28.4n/a
Market value$3.78T$77.2B
Dividend yield0.71%n/a
Rank by revenue in sector#3 of 731 · Technology#46 of 731 · Technology

Over the years

Revenue
MSFT FY2019: $125.8BMSFT FY2020: $143BMSFT FY2021: $168.1BMSFT FY2022: $198.3BMSFT FY2023: $211.9BMSFT FY2024: $245.1BMSFT FY2025: $281.7BMSFT FY2026: $331.8BNTES FY2018: $9.8BNTES FY2019: $8.5BNTES FY2020: $11.3BNTES FY2021: $13.7BNTES FY2022: $14BNTES FY2023: $14.6BNTES FY2024: $14.4BNTES FY2025: $16.1BFY18FY19FY20FY21FY22FY23FY24FY25FY26
MSFT $331.8BNTES $16.1B
Net income
MSFT FY2019: $39.2BMSFT FY2020: $44.3BMSFT FY2021: $61.3BMSFT FY2022: $72.7BMSFT FY2023: $72.4BMSFT FY2024: $88.1BMSFT FY2025: $101.8BMSFT FY2026: $133.7BNTES FY2018: $894.8MNTES FY2019: $3.1BNTES FY2020: $1.8BNTES FY2021: $2.6BNTES FY2022: $2.9BNTES FY2023: $4.1BNTES FY2024: $4.1BNTES FY2025: $4.8BFY18FY19FY20FY21FY22FY23FY24FY25FY26
MSFT $133.7BNTES $4.8B
Net margin
MSFT FY2019: 31.2%MSFT FY2020: 31.0%MSFT FY2021: 36.5%MSFT FY2022: 36.7%MSFT FY2023: 34.1%MSFT FY2024: 36.0%MSFT FY2025: 36.1%MSFT FY2026: 40.3%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%FY18FY19FY20FY21FY22FY23FY24FY25FY26
MSFT 40.3%NTES 30.0%
Revenue growth
MSFT FY2020: +13.6%MSFT FY2021: +17.5%MSFT FY2022: +18.0%MSFT FY2023: +6.9%MSFT FY2024: +15.7%MSFT FY2025: +14.9%MSFT FY2026: +17.8%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%FY19FY20FY21FY22FY23FY24FY25FY26
MSFT +17.8%NTES +11.6%
Free cash flow
MSFT FY2019: $38.3BMSFT FY2020: $45.2BMSFT FY2021: $56.1BMSFT FY2022: $65.1BMSFT FY2023: $59.5BMSFT FY2024: $74.1BMSFT FY2025: $71.6BMSFT FY2026: $67BNTES FY2018: $1.6BNTES FY2019: $2.3BNTES FY2020: $3.7BNTES FY2021: $3.7BNTES FY2022: $3.7BNTES FY2023: $4.7BNTES FY2024: $5.3BNTES FY2025: $7.1BFY18FY19FY20FY21FY22FY23FY24FY25FY26
MSFT $67BNTES $7.1B

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

Questions about Microsoft and NetEase

Which is bigger by revenue, Microsoft or NetEase?

Microsoft is bigger by revenue: $331.8B in fiscal 2026, against $16.1B for NetEase in fiscal 2025.

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

Microsoft had a net margin of 40.3% in fiscal 2026; NetEase had 30.0% in fiscal 2025.

Which grew revenue faster, Microsoft or NetEase?

In their latest fiscal years revenue changed by +17.8% at Microsoft 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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