Tencent Music Entertainment Group logo TME - Tencent Music Entertainment Group

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY 0
BUY 11
HOLD 12
SELL 1
STRONG
SELL 0
| PRICE TARGET: $17.82 DETAILS
HIGH: $25.00
LOW: $10.70
MEDIAN: $17.40
CONSENSUS: $17.82
UPSIDE: 102.27%
Annual Quarterly
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Revenue
Revenue 32,902 28,401 27,752 28,339 31,244 29,153 25,434 18,985 10,981 4,361
Cost of Revenue 18,367 16,376 17,957 19,566 21,840 19,851 16,761 11,708 7,171 3,129
Gross Profit 14,535 12,025 9,795 8,773 9,404 9,302 8,673 7,277 3,810 1,232
Operating Expenses
R&D Expenses 2,317 0 2,525 2,580 0 0 1,159 937 797 449
SG&A Expenses 2,540 4,676 5,018 5,557 6,687 5,576 4,744 3,972 2,434 1,148
Other Expenses (59) (1,361) (3,807) (3,807) (1,083) (984) (1,852) (1,583) 6 1
Operating Expenses 4,798 3,315 3,736 4,330 5,604 4,592 4,051 3,972 2,404 1,139
Operating Income
Operating Income 9,737 8,710 6,059 4,443 3,800 4,710 4,622 2,039 1,593 103
Interest Expense 122 124 124 115 121 97 64 35 0 0
Interest Income 1,054 1,196 1,052 711 530 622 615 282 93 32
Profitability
EBITDA 14,774 9,814 5,719 5,648 4,753 5,555 4,609 2,407 1,976 329
EBIT 13,399 8,836 4,999 4,488 3,752 4,731 4,087 2,038 1,597 93
Income Before Tax 13,277 8,712 6,045 4,373 3,632 4,632 4,540 2,003 1,597 114
Income Tax Expense 1,924 1,603 825 534 417 456 563 171 278 29
Net Income 11,056 6,644 4,920 3,677 3,029 4,155 3,982 1,833 1,326 82
Per Share Data
EPS (Basic) 7.00 4.30 3.16 2.30 1.82 2.50 2.44 1.19 0.82 0.05
EPS (Diluted) 6.92 4.24 3.10 2.28 1.80 2.48 2.38 1.16 0.81 0.05
Shares Outstanding 1,533.6 1,565.4 1,584.2 1,602.0 1,660.5 1,656.8 1,636.4 1,538.2 1,624.8 1,624.8
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Current Assets
Cash & Cash Equivalents 8,490.4 13,164 13,567 9,555 6,591 11,128 2,214.6 17,356 5,174 3,071
Short-Term Investments 15,856.1 14,045 9,974 11,328 13,835 14,895 1,011.2 81 0 261
Net Receivables 3,905.5 3,508 2,918 2,923 3,797 2,988 344.7 1,483 1,302 809
Inventory 41.0 23 8 14 24 18 3.7 35 30 14
Other Current Assets 4,185.7 1,375 267 87 56 53 62.2 55 39 35
Total Current Assets 32,478.7 34,544 29,936 26,559 26,791 31,687 3,885.2 20,778 7,467 4,997
Non-Current Assets
Property, Plant & Equipment 1,488.9 1,098 857 721 526 487 46.9 168 127 108
Goodwill 20,534.1 19,647 19,542 19,493 19,121 17,492 2,460.6 17,088 16,262 15,762
Intangible Assets 2,900.8 4,413 4,469 4,848 4,324 2,020 232.9 1,763 1,717 2,007
Long-Term Investments 42,029.7 29,895 19,840 14,332 15,403 15,328 813.6 3,784 4,118 302
Other Non-Current Assets 2,656.7 425 540 709 743 956 117.1 901 204 272
Total Non-Current Assets 70,108.6 55,900 45,600 40,450 40,463 36,586 3,678.5 23,827 22,533 18,538
Total Assets 102,587.3 90,444 75,536 67,009 67,254 68,273 7,563.6 44,605 30,000 23,535
Current Liabilities
Account Payables 6,288.0 6,879 5,006 4,998 4,329 3,565 367.4 1,830 1,045 998
Short-Term Debt 116.1 2,154 0 0 0 0 9.9 0 0 0
Deferred Revenue 3,541.3 3,435 3,051 2,309 1,834 1,710 258.4 1,537 1,047 415
Other Current Liabilities 3,560.3 0 0 0 (12) 0 527.7 0 1,047 0
Total Current Liabilities 14,598.3 16,550 12,014 11,717 10,450 9,602 1,228.6 6,238 3,527 2,523
Non-Current Liabilities
Long-Term Debt 3,499.2 3,572 5,636 5,536 5,062 5,175 0 0 0 0
Deferred Tax Liabilities 504.3 198 239 211 271 265 34.0 354 304 350
Other Non-Current Liabilities 379.2 0 0 0 125 204 0 201 0 28
Total Non-Current Liabilities 4,886.1 4,168 6,320 6,165 5,749 5,940 64.3 595 325 378
Total Liabilities 19,484.4 20,718 18,334 17,882 16,199 15,542 1,292.9 6,833 3,852 2,901
Stockholders' Equity
Common Stock 2.0 2 2 2 2 2 0.3 2 2 2
Retained Earnings 29,399.7 20,051 16,969 12,052 14,194 11,111 875.6 3,040 1,227 (57)
Accumulated Other Comprehensive Income 0 19,845 9,658 6,140 3,726 6,300 444.3 903 997 617
Total Stockholders' Equity 80,338.1 67,863 55,907 48,099 50,317 52,245 6,257.8 37,721 26,141 20,625
Total Liabilities & Equity 102,587.3 90,444 75,536 67,009 67,254 68,273 7,563.6 44,605 30,000 23,535
Debt Metrics
Total Debt 3,815.4 6,051 6,048 5,965 5,359 5,496 21.1 0 0 0
Net Debt (4,675.0) (7,113) (7,519) (3,590) (1,232) (5,632) (2,193.5) (17,356) (5,174) (3,071)
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Operating Activities
Net Income 10,754.8 8,712 6,045 4,373 3,632 4,632 4,540 2,003 1,597 114
Depreciation & Amortization 1,337.5 978 1,004 1,160 1,001 824 583 369 379 236
Stock-Based Compensation 0 596 649 665 647 569 519 487 362 170
Change in Working Capital (1,004.9) 1,556 786 2,221 573 (497) 982 1,386 455 405
Other Non-Cash Items (928.0) (1,567) (1,147) (938) (614) (643) (584) 1,237 (105) (32)
Operating Cash Flow 10,159.5 10,275 7,337 7,481 5,239 4,885 6,200 5,632 2,500 873
Investing Activities
Capital Expenditure (296.7) (1,032) (1,164) (1,053) (2,758) (501) (286) (144) (77) (41)
Acquisitions (1,026.3) (41) 57 (144) (2,075) (525) (44) (693) (15) 676
Purchases of Investments (24,128.2) (36,714) (13,688) (34,712) (22,249) (33,564) (12,344) (340) (61) 0
Sales/Maturities of Investments 16,032.0 30,886 12,828 34,385 20,994 20,338 4,586 11 261 371
Other Investing Activities 7.8 (630) (895) (890) (2,510) (347) (14) (24) (591) (510)
Investing Cash Flow (10,270.3) (6,818) (1,863) (1,446) (5,999) (14,206) (8,102) (1,190) (483) 496
Financing Activities
Net Debt Issuance (2,072.9) (134) (116) (130) (116) 5,330 (56) 0 0 0
Stock Repurchased (652.7) (1,925) (1,249) (3,127) (3,479) (134) 0 0 0 0
Dividends Paid (1,927.0) (1,508) 0 0 0 0 (32) (19) 0 0
Other Financing Activities (173.2) (263) (225) (165) (128) 96 42 441 99 (189)
Financing Cash Flow (4,407.6) (3,830) (1,538) (3,419) (3,710) 5,292 (31) 7,741 99 1,712
Cash Position
Net Change in Cash (4,131.1) (403) 4,012 2,964 (4,537) (4,298) (1,930) 12,182 2,103 3,071
Cash at Beginning 12,621.5 13,567 9,555 6,591 11,128 15,426 17,356 5,174 3,071 0
Cash at End 8,490.4 13,164 13,567 9,555 6,591 11,128 15,426 17,356 5,174 3,071
Free Cash Flow 9,862.8 9,243 6,173 6,428 2,481 4,384 5,914 5,488 2,423 832
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Income Statement
Revenue 32,902 28,401 27,752 28,339 31,244 29,153 25,434 18,985 10,981 4,361
Gross Profit 14,535 12,025 9,795 8,773 9,404 9,302 8,673 7,277 3,810 1,232
Operating Income 9,737 8,710 6,059 4,443 3,800 4,710 4,622 2,039 1,593 103
Net Income 11,056 6,644 4,920 3,677 3,029 4,155 3,982 1,833 1,326 82
EPS (Diluted) 6.92 4.24 3.10 2.28 1.80 2.48 2.38 1.16 0.81 0.05
Balance Sheet
Cash & Equivalents 8,490.4 13,164 13,567 9,555 6,591 11,128 2,214.6 17,356 5,174 3,071
Total Assets 102,587.3 90,444 75,536 67,009 67,254 68,273 7,563.6 44,605 30,000 23,535
Total Debt 3,815.4 6,051 6,048 5,965 5,359 5,496 21.1 0 0 0
Stockholders' Equity 80,338.1 67,863 55,907 48,099 50,317 52,245 6,257.8 37,721 26,141 20,625
Cash Flow
Operating Cash Flow 10,159.5 10,275 7,337 7,481 5,239 4,885 6,200 5,632 2,500 873
Capital Expenditure (296.7) (1,032) (1,164) (1,053) (2,758) (501) (286) (144) (77) (41)
Free Cash Flow 9,862.8 9,243 6,173 6,428 2,481 4,384 5,914 5,488 2,423 832