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Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, NetEase Cloud Music's Enterprise Value is HK$10,530 Mil.
NetEase Cloud Music's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was HK$2,272 Mil. Therefore, NetEase Cloud Music's EV-to-EBIT ratio for today is 4.63.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, NetEase Cloud Music's Enterprise Value is HK$10,530 Mil.
NetEase Cloud Music's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was HK$2,272 Mil. Therefore, NetEase Cloud Music's EV-to-EBITDA ratio for today is 4.63.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, NetEase Cloud Music's Enterprise Value is HK$10,530 Mil.
NetEase Cloud Music's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was HK$8,527 Mil. Therefore, NetEase Cloud Music's EV-to-Revenue ratio for today is 1.23.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
NetEase Cloud Music (HKSE:09899) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
1. EV-to-EBIT is calculated as Enterprise Value divided by its EBIT.
NetEase Cloud Music's current Enterprise Value is HK$10,530 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. NetEase Cloud Music's EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was HK$2,272 Mil.
2. EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA.
NetEase Cloud Music's current Enterprise Value is HK$10,530 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. NetEase Cloud Music's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was HK$2,272 Mil.
NetEase Cloud Music's current Enterprise Value is HK$10,530 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. NetEase Cloud Music's Revenue for the trailing twelve months (TTM) ended in Dec. 2025 was HK$8,527 Mil.
NetEase Cloud Music's current Enterprise Value is HK$10,530 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. NetEase Cloud Music's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was HK$1,781 Mil.
NetEase Cloud Music's current Enterprise Value is HK$10,530 Mil.
For company reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data. NetEase Cloud Music's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was HK$1,769 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NetEase Cloud Music Enterprise Value Related Terms
NetEase Cloud Music Enterprise Value Historical Data
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The historical data trend for NetEase Cloud Music's Enterprise Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
HKSE:09899 vs GOOGL, META, SPOT: Enterprise Value Comparison
For the Internet Content & Information subindustry, NetEase Cloud Music's Enterprise Value, along with its competitors' market caps and Enterprise Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
NetEase Cloud Music Enterprise Value vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, NetEase Cloud Music's Enterprise Value distribution charts can be found below:
* The bar in red indicates where NetEase Cloud Music's Enterprise Value falls into.
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
NetEase Cloud Music's Enterprise Value for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Enterprise Value of HK$10,530 Mil mean?
NetEase Cloud Music (HKSE:09899) has a Enterprise Value of HK$10,530 Mil as of Jul. 14, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on NetEase Cloud Music and its competitors.
Is NetEase Cloud Music's Enterprise Value too high?
NetEase Cloud Music's current Enterprise Value is HK$10,530 Mil. Overall, NetEase Cloud Music has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NetEase Cloud Music's Enterprise Value compare to GOOGL and META?
NetEase Cloud Music's Enterprise Value of HK$10,530 Mil can be compared against companies in the Interactive Media industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for an Interactive Media company?
A good Enterprise Value depends on the Interactive Media industry context. However, Enterprise Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on NetEase Cloud Music and its competitors. NetEase Cloud Music's current Enterprise Value is HK$10,530 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NetEase Cloud Music stock overvalued right now?
Based on GuruFocus' analysis, NetEase Cloud Music (HKSE:09899) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$107.38, compared to a current price of HK$120.70 — trading 12.4% above its estimated fair value. The current Enterprise Value is HK$10,530 Mil. NetEase Cloud Music's overall GF Score™ is 72/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For NetEase Cloud Music (HKSE:09899), the current Enterprise Value is HK$10,530 Mil as of Jul. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is NetEase Cloud Music (HKSE:09899) Overvalued in 2026?
Based on GuruFocus' analysis, NetEase Cloud Music stock appears to be overvalued.
The current stock price of HK$120.70 is trading 12.4% above its estimated GF Value™ of HK$107.38.
GuruFocus considers NetEase Cloud Music to be Modestly Overvalued.
Key valuation signals for HKSE:09899:
Enterprise Value: HK$10,530 Mil
GF Value™: HK$107.38 vs. price of HK$120.70 (12.4% above fair value)
No single metric tells the full story. See the HKSE:09899 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressNo. 353 Benjing Avenue, Room 1201, Block A, Hangzhou International Expo Center, Qianjiang Century City, Xiaoshan District, Zhejiang Province, Hangzhou, CHN
NetEase Cloud Music is China's second-largest music streaming platform, founded in 2013 as a subsidiary of NetEase. NetEase remains the controlling shareholder with a 59.4% stake. The company is headquartered in Hangzhou.The platform's business model revolves around a core music streaming service sold on a subscription basis, paired with a live streaming service where users purchase virtual items and gift them to performers.
72GF Score
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