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NetEase Cloud MusicHKSE:09899 +0.53%72 EV-to-FCF is 6.70 as of Jul. 30, 2026, which is 2% below its 10-year median of 6.83. GuruFocus rates HKSE:09899 with a GF Score™ of 72/100 and a GF Value™ of HK$108.08 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 338 Interactive Media companies, NetEase Cloud Music ranks better than 60.36% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, NetEase Cloud Music's Enterprise Value is HK$11,846 Mil.
NetEase Cloud Music's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was HK$1,769 Mil. Therefore, NetEase Cloud Music's EV-to-FCF for today is 6.70.
The historical rank and industry rank for NetEase Cloud Music's EV-to-FCF or its related term are showing as below:
HKSE:09899'
s EV-to-FCF Range Over the Past 10 Years
Min: -30.39 Med: 6.83 Max: 90.92
Current: 6.7
During the past 8 years, the highest EV-to-FCF of NetEase Cloud Music was 90.92. The lowest was -30.39. And the median was 6.83.
HKSE:09899's EV-to-FCF is ranked better than 60.36% of 338
companies
in the Interactive Media industry
Industry Median: 10.155
vs HKSE:09899: 6.70
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
NetEase Cloud Music (HKSE:09899) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
NetEase Cloud Music's PE Ratio (TTM) for today is calculated as:
NetEase Cloud Music's share price for today is HK$131.80.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. NetEase Cloud Music's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was HK$14.115.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
NetEase Cloud Music EV-to-FCF Related Terms
NetEase Cloud Music EV-to-FCF Historical Data
* Premium members only.
The historical data trend for NetEase Cloud Music's EV-to-FCF 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: EV-to-FCF Comparison
For the Internet Content & Information subindustry, NetEase Cloud Music's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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 EV-to-FCF vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, NetEase Cloud Music's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where NetEase Cloud Music's EV-to-FCF falls into.
NetEase Cloud Music's current Enterprise Value is HK$11,846 Mil.
For company reported semi-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 (HKSE:09899) has a EV-to-FCF of 6.70 as of Jul. 30, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on NetEase Cloud Music and its competitors. This is near median its historical median of 6.83. According to the industry distribution chart, NetEase Cloud Music ranks #134 out of 338 companies in the Interactive Media industry, placing it in the top 39.6%.
Is NetEase Cloud Music's EV-to-FCF too high?
NetEase Cloud Music's current EV-to-FCF of 6.70 is near median its 10-year median of 6.83. The Interactive Media industry median EV-to-FCF is 10.16. NetEase Cloud Music's value of 6.70 is 34% below this industry median. Based on the distribution chart, NetEase Cloud Music ranks #134 out of 338 companies in the Interactive Media industry, which is above the industry midpoint. 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 EV-to-FCF compare to GOOGL and META?
According to the Interactive Media industry distribution chart, NetEase Cloud Music ranks #134 out of 338 companies for EV-to-FCF. This puts NetEase Cloud Music in the upper half of its industry. The industry median EV-to-FCF is 10.16. NetEase Cloud Music's value of 6.70 is 34% below this benchmark. While the company's 10-year median is 6.83 vs. the industry median of 10.16, NetEase Cloud Music has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Interactive Media company?
The median EV-to-FCF among Interactive Media companies is 10.16, based on 338 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NetEase Cloud Music's current EV-to-FCF of 6.70 is 34% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on NetEase Cloud Music and its competitors. For the Interactive Media industry, the median EV-to-FCF is 10.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NetEase Cloud Music's current EV-to-FCF is 6.70, which is near median its own 10-year median of 6.83. 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$108.08, compared to a current price of HK$131.80 — trading 21.9% above its estimated fair value. The current EV-to-FCF is 6.70, which is near median its 10-year median of 6.83 and 34% below the Interactive Media industry median of 10.16. 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 EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For NetEase Cloud Music (HKSE:09899), the current EV-to-FCF is 6.70 as of Jul. 30, 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$131.80 is trading 21.9% above its estimated GF Value™ of HK$108.08.
GuruFocus considers NetEase Cloud Music to be Modestly Overvalued.
Key valuation signals for HKSE:09899:
EV-to-FCF: 6.70 (near median its 10-year median of 6.83)
GF Value™: HK$108.08 vs. price of HK$131.80 (21.9% above fair value)
Industry Position: 34% below the Interactive Media median (#134 of 338)
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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