• NetEase average price to free cash flow ratio for 2023 was 14.39, a 0.55% decline from 2022.
• NetEase average price to free cash flow ratio for 2022 was 14.47, a 18.39% decline from 2021.
• NetEase average price to free cash flow ratio for 2021 was 17.73, a 36.28% decline from 2020.

Price to free cash flow ratio can be defined as