NTES
NetEase, Inc.
NTES has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over NTES overall, supported by stronger fundamentals and stronger modeled upside.
NTES Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
NTES's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
NTES PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $116 | -5.6% |
| Current | 16x | $123 | — |
| Fair | 19x | $140 | +14% |
| Expensive | 29x | $220 | +79% |
Historical ranges are pointers, not guarantees.
NTES's PE is 16x, but its earnings don't support one, so it isn't a reliable read right now.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK has the edge over NTES in the historical PE scenario, which offers more potential upside but is not a forecast.
NTES Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for NTES, with profitability improving.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for SNDK, with profitability improving.
NTES Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $7.53 | -5.6% |
| Q1 2026 | $7.92 | +5% |
| Q4 2025 | $7.84 | +14% |
| Q3 2025 | $8.46 | +33% |
| Q2 2025 | $7.98 | +20% |
| Q1 2025 | $7.54 | +7.9% |
| Q4 2024 | $6.90 | +1.8% |
| Q3 2024 | $6.36 | +2.9% |
NTES earned $7.53 per share over the past year, down 5.6% from the year before.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over NTES in the latest year-over-year earnings comparison.
NTES Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.5B | +7.6% |
| Q1 2026 | $4.6B | +6.1% |
| Q4 2025 | $4.1B | +3% |
| Q3 2025 | $4.3B | +8.2% |
| Q2 2025 | $4.2B | +9.4% |
| Q1 2025 | $4.3B | +7.4% |
| Q4 2024 | $4B | -1.4% |
| Q3 2024 | $3.9B | -3.9% |
NTES's revenue has grown year over year for six quarters in a row: $4.5B last quarter, up 7.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 40% | +7.7 points |
| Q1 2026 | 41% | +5.1 points |
| Q4 2025 | 30% | +1 points |
| Q3 2025 | 28% | +1 points |
| Q2 2025 | 32% | +5.1 points |
| Q1 2025 | 36% | +7.8 points |
| Q4 2024 | 29% | +3.9 points |
| Q3 2024 | 27% | -0.4 points |
NTES's operating margin was 40% last quarter, up 7.7 points from the same quarter a year ago, near the top of its range since 2019.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK has the edge over NTES on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK has the edge over NTES on profitability, with a higher operating margin.
NTES Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $1.5B | -3.7% |
| Q1 2026 | $2B | +16% |
| Q4 2025 | $2.2B | +14% |
| Q3 2025 | $1.9B | +25% |
| Q2 2025 | $1.6B | +74% |
| Q1 2025 | $1.7B | +27% |
| Q4 2024 | $1.9B | +12% |
| Q3 2024 | $1.5B | +18% |
NTES's free cash flow has been positive every quarter for seven years: $7.5B over the past year, up 13% from the year before.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK generated $17.4B in free cash flow over the past year, more than ten times what it generated the year before.
NTES Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -1.1M shares |
| 1 year | +0.2% | +1.4M shares |
| 3 years | -0.8% | -5.5M shares |
| 5 years | -4.9% | -32.9M shares |
| Available history | -1.4% | -9M shares |
NTES has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $268.4M |
| Q1 2026 | $197.2M |
| Q4 2025 | $2.4M |
| Q3 2025 | $5.3M |
| Q2 2025 | $53.4M |
| Q1 2025 | $45.6M |
| Q4 2024 | $239.4M |
| Q3 2024 | $599.4M |
NTES spent $473M buying back its own shares over the past year, down 50% from the year before.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
NTES Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -1.1x | Net Cash |
| Q3 2025 | -0.5x | Net Cash |
| Q2 2025 | -1.0x | Net Cash |
| Q1 2025 | -0.8x | Net Cash |
| Q4 2024 | -1.0x | Net Cash |
| Q3 2024 | -0.3x | Net Cash |
NTES has the edge over SNDK on leverage, with a lower net debt burden relative to earnings.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has more cash than debt.
NTES Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.3 | Neutral |
| Stochastic | 49.8 | Neutral |
NTES's weekly RSI is 50 (neutral) and its Stochastic is 50 (neutral).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
NTES PE vs Technology Sector
| Metric | NTES | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 28x | 42% below |
| PE % | 26 | 35 | 9 pts below |
NTES is trading at 16x earnings, a 42% discount to the Technology sector's median of 28x, though its earnings don't support one.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK has the edge over NTES on valuation relative to its sector.
NTES Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $120.9 | 1.4% above |
| 20 week MA | $123.3 | 0.5% below |
| 50 week MA | $123.5 | 0.7% below |
| 100 week MA | $122.1 | 0.5% above |
| 200 week MA | $108.4 | 13% above |
NTES has stronger trend alignment. NTES is above 3 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-week average.
NTES Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $61.2 | $92.7 | +51% |
| 2021 | $92.7 | $97.8 | +5.6% |
| 2022 | $97.8 | $71.1 | -27% |
| 2023 | $71.1 | $93.2 | +31% |
| 2024 | $93.2 | $91.5 | -1.8% |
| 2025 | $91.5 | $138.1 | +51% |
| 2026 YTD | $138.1 | $122.6 | -11% |
NTES has finished higher in four of the last six years, two of them by more than 50%. It's down 11% so far in 2026.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over NTES on returns for 2026, with the stronger performance.