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STOCK COMPARISON

NetEase vs At&t: Fair Value & Quality

Both stocks run through our valuation models. Here is how NetEase (NTES) and At&t (T) compare, as of Sep 4, 2026.

As of Sep 4, 2026, Fair Value Calculator sees At&t as the more attractively valued of the two: NetEase trades at $117 versus a fair value of $173 (+48%), while At&t trades at $26.19 versus $43.97 (+68%).
NetEase
NTES · USD · Communication Services
+48%
upside to fair value
undervalued
Price$117
Fair Value$173
Quality81/100
At&t
T · USD · Communication Services
+68%
upside to fair value
undervalued
Price$26.19
Fair Value$43.97
Quality61/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

NetEaseAt&t
Valuation
16.9×P/E (TTM)7.1×
4.96×P/S (TTM)1.16×
3.53×P/B1.32×
12.8×EV/EBITDA5.7×
1.45×PEG1.47×
+47.8%Fair value upside+67.9%
2.6%Dividend yield4.2%
$3.04Dividend per share$1.11
Profitability
41%Operating margin23%
1.61×EBIT margin trend (5Y)1.28×
22%Return on equity18%
11%Return on assets4%
Growth
6%Revenue growth (YoY)3%
5.3%Avg. growth/yr (3Y)1.3%
8.9%Avg. growth/yr (5Y)-6.1%
+18.5%Value creation/yr+9.1%
Balance & size
16.7×Interest coverage (EBIT/interest)3.6×
0.00×Debt / equity1.15×
$85BMarket cap$146B
healthyGrowth qualityweak

NetEase leads: 10 to 6 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

NetEaseof which business quality 79 · market factors 43 At&tof which business quality 58 · market factors 56
ProfitabilityMargins and returns on capital today
71
49
Quality GrowthAre margins and returns improving?
53
69
CashflowEarnings quality: real cash, not paper profit
91
70
Fin. StrengthBalance sheet, leverage, solvency risk
95
21
InvestmentDisciplined investing over empire-building
63
64
Low VolatilityCalm price path (market factor)
67
89
MomentumPrice trend over the last 3–12 months (market factor)
39
37
52W MomentumDistance to the 52-week high (market factor)
22
50
Net IssuanceBuybacks instead of dilution
89
92

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyNetEasePrice $117At&tPrice $26.19
DCF Models+1553%above the price$1,935+41%above the price$37.01
Earnings-Based+1007%above the price$1,296-34%below the price$17.18
Dividend Discount+216%above the price$370-31%below the price$18.16
Multiples+613%above the price$835+104%above the price$53.55
Asset-Based+43%above the price$168-59%below the price$10.66
Growth DCF+1414%above the price$1,772+12%close to the price$29.37
Economic Profit+489%above the price$689-16%below the price$22.12
Growth Earnings+1355%above the price$1,703+117%above the price$56.86
Minimum+43%above the price$168-59%below the price$10.66
Maximum+1553%above the price$1,935+117%above the price$56.86
Median+810%above the price$1,065-2%close to the price$25.74
Geometric mean+625%above the price$849+1%close to the price$26.50

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

NetEase: 0 of 26 models see the stock below the current price.

At&t: 6 of 25 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

NetEase
Bear $130Fair Value $173Bull $283
$117 = current price (white tick)
At&t
Bear $22.74Fair Value $43.97Bull $66.94
$26.19 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

NetEase · Communication Services

Quality score81 · Top 25%
Fair value upside+48% · Top 25%

At&t · Communication Services

Quality score61 · above median
Fair value upside+68% · Top 25%

Bottom line

As of Sep 4, 2026, Fair Value Calculator sees At&t as the more attractively valued of the two: NetEase trades at $117 versus a fair value of $173 (+48%), while At&t trades at $26.19 versus $43.97 (+68%).

NetEase has the higher quality score (81/100).

See the full analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.