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Held by 406 of 5,944 reporting institutions (96th percentile) — extremely crowded.
Data as of Q1 2026
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No trend data available for this metric.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 22%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.11B 100.0% | $105.30B 100.0% | $103.47B 100.0% | $96.50B 100.0% | $87.61B 100.0% | $73.67B 100.0% | $59.24B 100.0% | $51.18B 100.0% | $44.44B 100.0% | $38.18B 100.0% |
| Cost of Revenue | $5.75B 35.7% | $39.49B 37.5% | $40.40B 39.1% | $43.73B 45.3% | $40.64B 46.4% | $34.68B 47.1% | $27.69B 46.7% | $23.83B 46.6% | $4.33B 9.7% | $16.52B 43.3% |
| Cost of Products | — | — | — | — | — | — | — | — | $1.61B 3.6% | $3.91B 10.2% |
| Cost of Services | — | — | — | — | — | — | — | — | $2.73B 6.1% | $12.60B 33.0% |
| Gross Profit | $10.35B 64.3% | $65.81B 62.5% | $63.06B 60.9% | $52.77B 54.7% | $46.97B 53.6% | $38.98B 52.9% | $31.56B 53.3% | $27.35B 53.4% | $25.04B 56.4% | $21.66B 56.7% |
| Research & Development | $2.53B 15.7% | $17.52B 16.6% | $16.48B 15.9% | $15.04B 15.6% | $14.08B 16.1% | $10.37B 14.1% | $8.41B 14.2% | $7.38B 14.4% | $4.16B 9.4% | $3.05B 8.0% |
| Selling, General & Admin | $604.6M 3.8% | $4.55B 4.3% | $4.90B 4.7% | $4.70B 4.9% | $4.26B 4.9% | $3.37B 4.6% | $3.13B 5.3% | $3.08B 6.0% | $2.38B 5.4% | $1.51B 3.9% |
| Total Operating Expenses | $5.23B 32.5% | $36.22B 34.4% | $35.35B 34.2% | $33.14B 34.3% | $30.55B 34.9% | $24.44B 33.2% | $17.76B 30.0% | $17.37B 33.9% | $12.05B 27.1% | $9.03B 23.7% |
| Operating Income | $5.12B 31.8% | $29.58B 28.1% | $27.71B 26.8% | $19.63B 20.3% | $16.42B 18.7% | $14.54B 19.7% | $13.79B 23.3% | $9.98B 19.5% | $12.99B 29.2% | $12.63B 33.1% |
| Other Income (Expense), net | $155.4M 1.0% | $602.1M 0.6% | $1.05B 1.0% | $846.8M 0.9% | $710.4M 0.8% | $737.2M 1.0% | $439.4M 0.7% | $586.9M 1.1% | $271.9M 0.6% | $377.7M 1.0% |
| Pretax Income | $5.84B 36.3% | $35.72B 33.9% | $34.06B 32.9% | $24.25B 25.1% | $21.10B 24.1% | $15.37B 20.9% | $16.38B 27.7% | $11.08B 21.6% | $13.84B 31.1% | $13.90B 36.4% |
| Income Tax Expense | $862.7M 5.4% | $5.46B 5.2% | $4.70B 4.5% | $5.03B 5.2% | $4.13B 4.7% | $3.04B 4.1% | $2.91B 4.9% | $2.46B 4.8% | $2.16B 4.9% | $2.10B 5.5% |
| Net Income | $4.98B 30.9% | $30.26B 28.7% | $29.36B 28.4% | $19.84B 20.6% | $16.98B 19.4% | $12.33B 16.7% | $21.43B 36.2% | $6.48B 12.7% | $10.85B 24.4% | $1.67B 4.4% |
| Per Share | ||||||||||
| EPS (Basic) | $1.52 | $9.28 | $9.15 | $6.23 | $5.07 | $3.65 | $6.59 | $1.90 | $3.25 | $3.54 |
| EPS (Diluted) | $1.50 | $9.19 | $9.05 | $6.17 | $5.01 | $3.60 | $6.53 | $1.89 | $3.23 | $3.51 |
| Weighted Avg Shares (Basic) | 3.19B | 3.20B | 3.22B | 3.26B | 3.33B | 3.31B | 3.22B | 3.24B | 3.29B | 3.28B |
| Weighted Avg Shares (Diluted) | 3.22B | 3.23B | 3.25B | 3.30B | 3.37B | 3.35B | 3.25B | 3.25B | 3.32B | 3.31B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $116.62 today, the market must believe free cash flow compounds 23.7%/yr for a decade (off $5.7B normalized FCF).
The market's 23.7% is more optimistic than its 8-yr track record.
2-stage DCF · 3.19B shares · net debt -$6.7B
mean 22.7% · volatility σ 22% · implied rate exceeded in 4/8 yrs
Central path = implied 23.7%/yr growth; shaded band = ±1σ (22%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 28% of free cash flow, leaving room to grow it and fund buybacks. Last year: $2.0B dividends + $0 buybacks = $2.0B returned on $7.1B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-09-17
Nothing notable to watch.
No material risks flagged.
Where each multiple sits in its own 14-yr range · 53th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 2.3× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 46.6 | 46.7 | 47.1 | 46.4 | 45.3 | 39.1 | 37.5 | 35.7 |
| Gross Profit | 53.4 | 53.3 | 52.9 | 53.6 | 54.7 | 60.9 | 62.5 | 64.3 |
| R&D | 14.4 | 14.2 | 14.1 | 16.1 | 15.6 | 15.9 | 16.6 | 15.7 |
| SG&A | 6.0 | 5.3 | 4.6 | 4.9 | 4.9 | 4.7 | 4.3 | 3.8 |
| Operating Income | 19.5 | 23.3 | 19.7 | 18.7 | 20.3 | 26.8 | 28.1 | 31.8 |
| Income Tax | 4.8 | 4.9 | 4.1 | 4.7 | 5.2 | 4.5 | 5.2 | 5.4 |
| Net Income | 12.7 | 36.2 | 16.7 | 19.4 | 20.6 | 28.4 | 28.7 | 30.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NTES: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.