Market cap is the total market value to buy the whole company. It is equal to the share price times the number of Shares Outstanding (EOP). NetEase Cloud Music's share price for the quarter that ended in Dec. 2025 was HK$184.5. NetEase Cloud Music's Shares Outstanding (EOP) for the quarter that ended in Dec. 2025 was 212 Mil. Therefore, NetEase Cloud Music's market cap for the quarter that ended in Dec. 2025 was HK$39,102 Mil.
NetEase Cloud Music's quarterly market cap
increased
from Dec. 2024 (HK$24,266 Mil) to Jun. 2025 (HK$51,348 Mil) but then
declined
from Jun. 2025 (HK$51,348 Mil) to Dec. 2025 (HK$39,102 Mil).
NetEase Cloud Music's annual market cap
increased
from Dec. 2023 (HK$19,011 Mil) to Dec. 2024 (HK$24,229 Mil) and
increased
from Dec. 2024 (HK$24,229 Mil) to Dec. 2025 (HK$39,102 Mil).
Enterprise Value is 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 and cash equivalents. NetEase Cloud Music's Enterprise Value for Today is HK$10,632 Mil.
NetEase Cloud Music (HKSE:09899) Market Cap Explanation
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
NetEase Cloud Music Market Cap Related Terms
NetEase Cloud Music Market Cap Historical Data
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The historical data trend for NetEase Cloud Music's Market Cap 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: Market Cap Comparison
For the Internet Content & Information subindustry, NetEase Cloud Music's Market Cap, along with its competitors' market caps and Market Cap 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 Market Cap vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, NetEase Cloud Music's Market Cap distribution charts can be found below:
* The bar in red indicates where NetEase Cloud Music's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
NetEase Cloud Music's Market Cap 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.
NetEase Cloud Music (HKSE:09899) has a Market Cap of HK$24,668 Mil as of Jul. 12, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on NetEase Cloud Music and its competitors. According to the industry distribution chart, NetEase Cloud Music ranks #53 out of 571 companies in the Interactive Media industry, placing it in the top 9.3%.
Is NetEase Cloud Music's Market Cap too high?
NetEase Cloud Music's current Market Cap is HK$24,668 Mil. Based on the distribution chart, NetEase Cloud Music ranks #53 out of 571 companies in the Interactive Media industry, which is in the top quartile — a strong position relative to peers. 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 Market Cap compare to GOOGL and META?
According to the Interactive Media industry distribution chart, NetEase Cloud Music ranks #53 out of 571 companies for Market Cap. This places NetEase Cloud Music in the top 9% of its industry — outperforming the majority of peers. The industry median Market Cap is 52.52. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Market Cap for an Interactive Media company?
The median Market Cap among Interactive Media companies is 52.52, based on 571 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap 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 Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on NetEase Cloud Music and its competitors. For the Interactive Media industry, the median Market Cap is 52.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NetEase Cloud Music's current Market Cap is HK$24,668 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$107.30, compared to a current price of HK$120.50 — trading 12.3% above its estimated fair value. The current Market Cap is HK$24,668 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 Market Cap calculated?
Market Cap is calculated from a company's financial statements. For NetEase Cloud Music (HKSE:09899), the current Market Cap is HK$24,668 Mil as of Jul. 12, 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$120.50 is trading 12.3% above its estimated GF Value™ of HK$107.30.
GuruFocus considers NetEase Cloud Music to be Modestly Overvalued.
Key valuation signals for HKSE:09899:
Market Cap: HK$24,668 Mil
GF Value™: HK$107.30 vs. price of HK$120.50 (12.3% 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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