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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
NetEase Cloud MusicHKSE:09899 +2.00%77 PB Ratio is 1.75 as of Aug. 16, 2026, which is 16% below its 10-year median of 2.09. GuruFocus rates HKSE:09899 with a GF Score™ of 77/100 and a GF Value™ of HK$109.09 (Fairly Valued). The stock has 3 warning signs investors should review. Among 508 Interactive Media companies, NetEase Cloud Music ranks better than 51.77% on this metric.
The historical rank and industry rank for NetEase Cloud Music's PB Ratio or its related term are showing as below:
HKSE:09899'
s PB Ratio Range Over the Past 10 Years
Min: 0.78 Med: 2.09 Max: 5.87
Current: 1.75
During the past 8 years, NetEase Cloud Music's highest PB Ratio was 5.87. The lowest was 0.78. And the median was 2.09.
HKSE:09899's PB Ratio is ranked better than 51.77% of 508
companies
in the Interactive Media industry
Industry Median: 1.81
vs HKSE:09899: 1.75
During the past 12 months, NetEase Cloud Music's average Book Value Per Share Growth Rate was 30.30% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 17.10% per year.
During the past 8 years, the highest 3-Year average Book Value Per Share Growth Rate of NetEase Cloud Music was 17.10% per year. The lowest was -9.70% per year. And the median was 3.70% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
NetEase Cloud Music PB Ratio Related Terms
NetEase Cloud Music PB Ratio Historical Data
* Premium members only.
The historical data trend for NetEase Cloud Music's PB Ratio 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: PB Ratio Comparison
For the Internet Content & Information subindustry, NetEase Cloud Music's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, NetEase Cloud Music's PB Ratio distribution charts can be found below:
* The bar in red indicates where NetEase Cloud Music's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
NetEase Cloud Music (HKSE:09899) has a PB Ratio of 1.75 as of Aug. 16, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on NetEase Cloud Music and its competitors. This is 16% below median its historical median of 2.09. Over the past decade, NetEase Cloud Music's PB Ratio has ranged from 0.78 to 5.87. According to the industry distribution chart, NetEase Cloud Music ranks #245 out of 508 companies in the Interactive Media industry, placing it in the top 48.2%.
Is NetEase Cloud Music's PB Ratio too high?
NetEase Cloud Music's current PB Ratio of 1.75 is 16% below median its 10-year median of 2.09. Over the past 10 years, this metric has ranged from a low of 0.78 to a high of 5.87. The Interactive Media industry median PB Ratio is 1.81. NetEase Cloud Music's value of 1.75 is 3.3% below this industry median. Based on the distribution chart, NetEase Cloud Music ranks #245 out of 508 companies in the Interactive Media industry, which is above the industry midpoint. Overall, NetEase Cloud Music has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NetEase Cloud Music's PB Ratio compare to GOOGL and META?
According to the Interactive Media industry distribution chart, NetEase Cloud Music ranks #245 out of 508 companies for PB Ratio. This puts NetEase Cloud Music in the upper half of its industry. The industry median PB Ratio is 1.81. NetEase Cloud Music's value of 1.75 is 3.3% below this benchmark. Historically, NetEase Cloud Music's own PB Ratio has ranged from 0.78 to 5.87 over the past decade. While the company's 10-year median is 2.09 vs. the industry median of 1.81, 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 PB Ratio for an Interactive Media company?
The median PB Ratio among Interactive Media companies is 1.81, based on 508 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NetEase Cloud Music's current PB Ratio of 1.75 is 3.3% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on NetEase Cloud Music and its competitors. For the Interactive Media industry, the median PB Ratio is 1.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NetEase Cloud Music's current PB Ratio is 1.75, which is 16% below median its own 10-year median of 2.09. 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 Fairly Valued. The stock's GF Value™ is HK$109.09, compared to a current price of HK$117.50 — trading 7.7% above its estimated fair value. The current PB Ratio is 1.75, which is 16% below median its 10-year median of 2.09 and 3.3% below the Interactive Media industry median of 1.81. NetEase Cloud Music's overall GF Score™ is 77/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For NetEase Cloud Music (HKSE:09899), the current PB Ratio is 1.75 as of Aug. 16, 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$117.50 is trading 7.7% above its estimated GF Value™ of HK$109.09.
GuruFocus considers NetEase Cloud Music to be Fairly Valued.
Key valuation signals for HKSE:09899:
PB Ratio: 1.75 (16% below median its 10-year median of 2.09)
GF Value™: HK$109.09 vs. price of HK$117.50 (7.7% above fair value)
Industry Position: 3.3% below the Interactive Media median (#245 of 508)
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.
77GF Score
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