---
title: "網易雲音樂股份有限公司 (09899.HK)"
type: "quote"
locale: "en"
url: "https://longbridge.com/en/quote/09899.HK.md"
symbol: "09899.HK"
name: "網易雲音樂股份有限公司"
industry: "電影和娛樂"
---

# 網易雲音樂股份有限公司 (09899.HK)

| Item | Detail |
|------|--------|
| Industry | 電影和娛樂 |
| Location | 港股市場 |
| Website | [ir.music.163.com](https://ir.music.163.com) |

## Company Profile

網易雲音樂股份有限公司是一家主要從事營運在線音樂平臺的投資控股公司。該公司主要從事營運線上平臺以提供音樂服務及社交娛樂服務。在線音樂服務業務從事提供音樂會員訂閱、銷售數字音樂專輯及歌曲、內容轉授權及提供在線平臺的網絡廣告服務。社交娛樂服務及其他業務從事運營直播平臺以及社交網絡平臺,並銷售虛擬物品。該公司主要在國內市場開展業務。

## Financial Score

> *Longbridge Financial Score™ — Proprietary multi-factor rating model by [Longbridge](https://longbridge.com). This score is independently calculated by Longbridge and is not affiliated with any third-party rating agency.*
> Updated: 2026-02-20T04:30:10.000Z

**Overall: B (0.37)**

**Industry**: Movies and Entertainment

| Metric | Value |
|--------|-------|
| Industry Ranking | 3 / 35 |
| Industry Median | C |
| Industry Average | C |

- **Style**: Value - Stocks where the company's main business is in a mature stage.
- **Scale**: Mid - The company has stable operation of a large-cap stock and the high return of a small-cap stock.

### Score Analysis

**Style Score**: 

#### Growth Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -1.45% |  |
| Net Profit YoY | 77.70% |  |

#### Value Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| P/B Ratio | 2.48 |  |
| Dividend Ratio | 0.00% |  |


**Size Score**: 

#### Market Cap Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 35.38B |  |

#### Revenue Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue | 8.48B |  |


**Multi Score**: B

#### Profit Score: A

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | 23.85% | A |
| Profit Margin | 35.42% | A |
| Gross Margin | 35.69% | C |

#### Growth Score: C

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -1.45% | D |
| Net Profit YoY | 77.70% | A |
| Total Assets YoY | 26.69% | A |
| Net Assets YoY | 32.12% | A |

#### Cash Score: C

| Indicator | Value | Rating |
|-----------|-------|--------|
| Cash Flow Margin | 282.35% | C |
| OCF YoY | -1.45% | D |

#### Operating Score: C

| Indicator | Value | Rating |
|-----------|-------|--------|
| Turnover | 0.52 | C |

#### Debt Score: A

| Indicator | Value | Rating |
|-----------|-------|--------|
| Gearing Ratio | 21.82% | A |


```chart-data:radar
{
  "title": "Longbridge Financial Score - 網易雲音樂股份有限公司",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Profit",
      "grade": "A",
      "indicators": [
        {
          "name": "ROE",
          "value": "23.85%",
          "rating": "A"
        },
        {
          "name": "Profit Margin",
          "value": "35.42%",
          "rating": "A"
        },
        {
          "name": "Gross Margin",
          "value": "35.69%",
          "rating": "C"
        }
      ]
    },
    {
      "name": "Growth",
      "grade": "C",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "-1.45%",
          "rating": "D"
        },
        {
          "name": "Net Profit YoY",
          "value": "77.70%",
          "rating": "A"
        },
        {
          "name": "Total Assets YoY",
          "value": "26.69%",
          "rating": "A"
        },
        {
          "name": "Net Assets YoY",
          "value": "32.12%",
          "rating": "A"
        }
      ]
    },
    {
      "name": "Cash",
      "grade": "C",
      "indicators": [
        {
          "name": "Cash Flow Margin",
          "value": "282.35%",
          "rating": "C"
        },
        {
          "name": "OCF YoY",
          "value": "-1.45%",
          "rating": "D"
        }
      ]
    },
    {
      "name": "Operating",
      "grade": "C",
      "indicators": [
        {
          "name": "Turnover",
          "value": "0.52",
          "rating": "C"
        }
      ]
    },
    {
      "name": "Security",
      "grade": "A",
      "indicators": [
        {
          "name": "Gearing Ratio",
          "value": "21.82%",
          "rating": "A"
        }
      ]
    }
  ]
}
```

### Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
|------|------|--------|--------|-----------|----------|------|--------|
| 01 | 中國國家文化產業 (HK.745) | B | A | A | A | B | A |
| 02 | 騰訊音樂-SW (HK.1698) | A | B | D | A | C | B |
| 03 | 網易雲音樂 (HK.9899) | A | C | C | A | C | B |
| 04 | 大麥娛樂 (HK.1060) | C | A | D | B | A | B |
| 05 | IMAX CHINA (HK.1970) | A | B | D | A | C | B |

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | 11.18 | 6/35 | 27.95 | 20.12 | 14.45 |
| PB | 2.39 | 23/35 | 4.65 | 3.63 | 3.05 |
| PS (TTM) | 3.96 | 24/35 | 6.76 | 5.14 | 4.30 |
| Dividend Yield | 0.00% | - | - | - | - |

## Institutional View

### Analyst Rating Distribution

> As of 2026-02-12T16:00:00.000Z

Total Analysts: **18**

| Rating | Count | Percentage |
|--------|-------|-----------|
| Buy | 14 | 78% |
| Overweight | 3 | 17% |
| Hold | 1 | 6% |
| Underweight | 0 | 0% |
| Sell | 0 | 0% |

### Target Price Forecast

| Metric | Price |
|--------|-------|
| Current Price | 156.60 |
| Highest Target | 363.33 |
| Lowest Target | 218.41 |

## References

- [Company Overview](https://longbridge.com/en/quote/09899.HK/overview.md) - Shareholders, executives, business segments
- [Financials](https://longbridge.com/en/quote/09899.HK/norm.md) - Income statement, balance sheet, cash flow, distribution plan
- [Topics & Discussions](https://longbridge.com/en/quote/09899.HK/topics.md) - Community topics and discussions

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.