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About

Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover, enjoy, and share music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends. The company also delivers music-centric live streaming services primarily through the Live Streaming tab on QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with audience base; and Lazy Audio, an audio platform. In addition, it sells artist-related merchandise, such as branded apparel, posters and art prints, and accessories; other music services, such as content licensing, sales of digital albums, sales of customized artist-related merchandises, live performances and concerts, and artist management services; and music subscriptions, as well as offers advertising services across its social entertainment platforms. The company is headquartered in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.

Fundamentals
Scroll to Statements
Sector Communication Services Industry Internet Content & Infor Market Cap 25.21B
Enterprise Value 30.25B Income 10.81B Sales 31.72B
Book/sh 7.79 Cash/sh 7.26 Dividend Yield 120.00%
Payout 18.84% Employees 5353 IPO —
P/E 14.97 Forward P/E 14.89 PEG —
P/S 0.79 P/B 1.92 P/C —
EV/EBITDA 2.40 EV/Sales 0.95 Quick Ratio 1.81
Current Ratio 2.08 Debt/Eq 4.52 LT Debt/Eq —
EPS (ttm) 1.00 EPS next Y 1.01 EPS Growth 38.00%
Revenue Growth 20.60% Earnings 2026-03-17 ROA 7.84%
ROE 14.79% ROIC — Gross Margin 43.90%
Oper. Margin 29.13% Profit Margin 34.08% Shs Outstand 708.44M
Shs Float 1.12B Short Float 3.40% Short Ratio 2.65
Short Interest — 52W High 26.70 52W Low 11.71
Beta 0.52 Avg Volume 5.39M Volume 9.68M
Target Price $27.13 Recom Strong_buy Prev Close $14.71
Price $14.97 Change 1.77%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$27.13
Mean price target
2. Current target
$14.97
Latest analyst target
3. DCF / Fair value
$136.76
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$14.97
Low
$21.34
High
$31.06
Mean
$27.13

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-12-22 main Morgan Stanley Overweight → Overweight $25
2025-11-13 main Benchmark Buy → Buy $25
2025-11-12 main Barclays Overweight → Overweight $28
2025-08-13 main Benchmark Buy → Buy $28
2025-08-12 main Citigroup Buy → Buy $29
2025-08-12 main Barclays Overweight → Overweight $27
2025-03-19 main Mizuho Outperform → Outperform $17
2025-01-21 up Morgan Stanley Equal-Weight → Overweight $13
2024-11-06 init Barclays — → Overweight $16
2024-11-04 init Bernstein — → Outperform $14
2024-09-25 down Morgan Stanley Overweight → Equal-Weight $13
2024-08-14 main Benchmark Buy → Buy $15
2024-08-14 main Mizuho Outperform → Outperform $16
2024-08-14 main B of A Securities Buy → Buy $15
2024-05-14 main Benchmark Buy → Buy $19
2024-05-14 main Mizuho Buy → Buy $17
2024-05-10 main Mizuho Buy → Buy $15
2024-03-20 main Morgan Stanley Overweight → Overweight $14
2024-03-20 up Goldman Sachs Neutral → Buy $14
2024-03-20 main Benchmark Buy → Buy $14
Insider Transactions

No recent insider transactions.

Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-4.78M-1.22M23.06M14.81M
TaxRateForCalcs0.180.140.120.11
NormalizedEBITDA9.84B7.18B5.46B4.62B
TotalUnusualItems-26.00M-9.00M189.00M129.00M
TotalUnusualItemsExcludingGoodwill-26.00M-9.00M189.00M129.00M
NetIncomeFromContinuingOperationNetMinorityInterest6.64B4.92B3.68B3.03B
ReconciledDepreciation978.00M1.00B1.16B1.00B
ReconciledCostOfRevenue16.38B17.96B19.57B21.84B
EBITDA9.81B7.17B5.65B4.75B
EBIT8.84B6.17B4.49B3.75B
NetInterestIncome1.07B928.00M596.00M410.00M
InterestExpense124.00M124.00M115.00M120.00M
InterestIncome1.20B1.05B711.00M530.00M
NormalizedIncome6.67B4.93B3.51B2.91B
NetIncomeFromContinuingAndDiscontinuedOperation6.64B4.92B3.68B3.03B
TotalExpenses20.96B22.78B24.81B28.13B
TotalOperatingIncomeAsReported8.71B6.06B4.44B3.80B
DilutedAverageShares1.57B1.58B1.62B1.68B
BasicAverageShares1.54B1.56B1.60B1.66B
DilutedEPS4.243.102.281.80
BasicEPS4.303.162.301.82
DilutedNIAvailtoComStockholders6.64B4.92B3.68B3.03B
NetIncomeCommonStockholders6.64B4.92B3.68B3.03B
NetIncome6.64B4.92B3.68B3.03B
MinorityInterests-465.00M-300.00M-162.00M-186.00M
NetIncomeIncludingNoncontrollingInterests7.11B5.22B3.84B3.21B
NetIncomeContinuousOperations7.11B5.22B3.84B3.21B
TaxProvision1.60B825.00M534.00M417.00M
PretaxIncome8.71B6.04B4.37B3.63B
OtherIncomeExpense201.00M145.00M245.00M112.00M
OtherNonOperatingIncomeExpenses131.00M27.00M18.00M30.00M
SpecialIncomeCharges-35.00M-19.00M141.00M8.00M
GainOnSaleOfBusiness1.00M-10.00M
WriteOff64.00M23.00M0.000.00
RestructuringAndMergernAcquisition-29.00M-4.00M-141.00M-8.00M
EarningsFromEquityInterest96.00M127.00M38.00M-47.00M
GainOnSaleOfSecurity9.00M10.00M48.00M121.00M
NetNonOperatingInterestIncomeExpense1.07B928.00M596.00M410.00M
InterestExpenseNonOperating124.00M124.00M115.00M120.00M
InterestIncomeNonOperating1.20B1.05B711.00M530.00M
OperatingIncome7.44B4.97B3.53B3.11B
OperatingExpense4.59B4.82B5.24B6.29B
OtherOperatingExpenses-90.00M-195.00M-316.00M-393.00M
SellingGeneralAndAdministration4.68B5.02B5.56B6.69B
SellingAndMarketingExpense865.00M897.00M1.14B2.68B
GeneralAndAdministrativeExpense3.81B4.12B4.41B4.01B
OtherGandA3.81B4.12B4.41B4.01B
GrossProfit12.03B9.79B8.77B9.40B
CostOfRevenue16.38B17.96B19.57B21.84B
TotalRevenue28.40B27.75B28.34B31.24B
OperatingRevenue28.40B27.75B28.34B31.24B
Line Item2024-12-312023-12-31
TreasurySharesNumber15.97M52.91M
OrdinarySharesNumber3.08B3.38B3.43B3.39B
ShareIssued3.10B3.43B3.43B3.39B
TotalDebt6.05B6.05B5.96B5.36B
TangibleBookValue43.80B31.90B23.76B26.87B
InvestedCapital73.59B61.54B53.63B55.38B
WorkingCapital17.99B17.92B14.84B16.34B
NetTangibleAssets43.80B31.90B23.76B26.87B
CapitalLeaseObligations325.00M412.00M429.00M297.00M
CommonStockEquity67.86B55.91B48.10B50.32B
TotalCapitalization71.44B61.54B53.63B55.38B
TotalEquityGrossMinorityInterest69.73B57.20B49.13B51.05B
MinorityInterest1.86B1.29B1.03B738.00M
StockholdersEquity67.86B55.91B48.10B50.32B
OtherEquityInterest-520.00M-302.00M-202.00M-183.00M
GainsLossesNotAffectingRetainedEarnings19.84B9.66B6.14B3.73B
OtherEquityAdjustments19.84B9.66B6.14B3.73B
TreasuryStock550.00M7.00B6.35B3.66B
RetainedEarnings20.05B16.97B12.05B14.19B
AdditionalPaidInCapital29.04B36.58B36.46B36.24B
CapitalStock2.00M2.00M2.00M2.00M
CommonStock2.00M2.00M2.00M2.00M
TotalLiabilitiesNetMinorityInterest20.72B18.33B17.88B16.20B
TotalNonCurrentLiabilitiesNetMinorityInterest4.17B6.32B6.17B5.75B
TradeandOtherPayablesNonCurrent0.0093.00M
NonCurrentDeferredLiabilities377.00M387.00M323.00M389.00M
NonCurrentDeferredRevenue179.00M148.00M112.00M118.00M
NonCurrentDeferredTaxesLiabilities198.00M239.00M211.00M271.00M
LongTermDebtAndCapitalLeaseObligation3.79B5.93B5.84B5.27B
LongTermCapitalLeaseObligation219.00M297.00M306.00M205.00M
LongTermDebt3.57B5.64B5.54B5.06B
CurrentLiabilities16.55B12.01B11.72B10.45B
CurrentDeferredLiabilities3.44B3.05B2.31B1.95B
CurrentDeferredRevenue3.44B3.05B2.31B1.95B
CurrentDebtAndCapitalLeaseObligation2.26B115.00M123.00M92.00M
CurrentCapitalLeaseObligation106.00M115.00M123.00M92.00M
CurrentDebt2.15B
OtherCurrentBorrowings2.15B
PayablesAndAccruedExpenses10.86B8.85B9.29B8.40B
CurrentAccruedExpenses2.30B2.18B2.83B3.13B
Payables8.56B6.67B6.46B5.27B
OtherPayable451.00M397.00M864.00M437.00M
DuetoRelatedPartiesCurrent117.00M491.00M
DividendsPayable12.00M12.00M
TotalTaxPayable1.11B775.00M598.00M494.00M
AccountsPayable6.88B5.01B5.00B4.33B
TotalAssets90.44B75.54B67.01B67.25B
TotalNonCurrentAssets55.90B45.60B40.45B40.46B
OtherNonCurrentAssets102.00M110.00M106.00M
NonCurrentPrepaidAssets323.00M430.00M603.00M743.00M
NonCurrentDeferredAssets422.00M352.00M347.00M346.00M
NonCurrentDeferredTaxesAssets422.00M352.00M347.00M346.00M
InvestmentsAndAdvances29.89B19.84B14.33B15.40B
OtherInvestments307.00M304.00M199.00M
InvestmentinFinancialAssets25.23B15.57B9.70B11.61B
AvailableForSaleSecurities24.92B15.26B9.70B11.61B
FinancialAssetsDesignatedasFairValueThroughProfitorLossTotal309.00M307.00M
LongTermEquityInvestment4.67B4.27B4.33B3.60B
GoodwillAndOtherIntangibleAssets24.06B24.01B24.34B23.45B
OtherIntangibleAssets4.41B4.47B4.85B4.32B
Goodwill19.65B19.54B19.49B19.12B
NetPPE1.10B857.00M721.00M526.00M
AccumulatedDepreciation-371.00M-450.00M-424.00M-366.00M
GrossPPE1.47B1.31B1.15B892.00M
Leases135.00M168.00M166.00M137.00M
ConstructionInProgress718.00M341.00M132.00M37.00M
OtherProperties1.00M
MachineryFurnitureEquipment321.00M431.00M449.00M435.00M
BuildingsAndImprovements295.00M367.00M398.00M282.00M
Properties0.000.000.000.00
CurrentAssets34.54B29.94B26.56B26.79B
OtherCurrentAssets73.00M57.00M53.00M56.00M
RestrictedCash11.00M31.00M34.00M0.00
PrepaidAssets2.43B2.39B2.65B2.49B
Inventory23.00M8.00M14.00M24.00M
Receivables4.80B3.91B2.92B3.80B
OtherReceivables190.00M148.00M
DuefromRelatedPartiesCurrent48.00M54.00M72.00M51.00M
TaxesReceivable77.00M125.00M181.00M136.00M
AccruedInterestReceivable976.00M667.00M
AccountsReceivable3.51B2.92B2.67B3.61B
AllowanceForDoubtfulAccountsReceivable-22.00M-77.00M-61.00M-20.00M
GrossAccountsReceivable3.53B3.00B2.73B3.63B
CashCashEquivalentsAndShortTermInvestments27.21B23.54B20.88B20.43B
OtherShortTermInvestments14.04B9.97B11.33B13.84B
CashAndCashEquivalents13.16B13.57B9.55B6.59B
CashEquivalents854.00M0.00402.00M0.00
CashFinancial12.31B13.57B9.15B6.59B
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow9.24B6.17B6.43B2.48B
RepurchaseOfCapitalStock-1.93B-1.25B-3.13B-3.48B
RepaymentOfDebt-134.00M-116.00M-130.00M-116.00M
IssuanceOfDebt0.000.00
IssuanceOfCapitalStock0.0052.00M3.00M13.00M
CapitalExpenditure-1.03B-1.16B-1.05B-2.76B
EndCashPosition13.16B13.57B9.55B6.59B
BeginningCashPosition13.57B9.55B6.59B11.13B
EffectOfExchangeRateChanges-30.00M76.00M348.00M-67.00M
ChangesInCash-373.00M3.94B2.62B-4.47B
FinancingCashFlow-3.83B-1.54B-3.42B-3.71B
CashFlowFromContinuingFinancingActivities-3.83B-1.54B-3.42B-3.71B
NetOtherFinancingCharges-83.00M-65.00M-35.00M-22.00M
InterestPaidCFF-119.00M-117.00M-115.00M-105.00M
ProceedsFromStockOptionExercised-61.00M-43.00M-15.00M-1.00M
CashDividendsPaid-1.51B0.000.000.00
CommonStockDividendPaid-1.51B0.000.00
NetCommonStockIssuance-1.93B-1.20B-3.12B-3.47B
CommonStockPayments-1.93B-1.25B-3.13B-3.48B
CommonStockIssuance0.0052.00M3.00M13.00M
NetIssuancePaymentsOfDebt-134.00M-116.00M-130.00M-116.00M
NetLongTermDebtIssuance-134.00M-116.00M-130.00M-116.00M
LongTermDebtPayments-134.00M-116.00M-130.00M-116.00M
LongTermDebtIssuance0.000.00
InvestingCashFlow-6.82B-1.86B-1.45B-6.00B
CashFlowFromContinuingInvestingActivities-6.82B-1.86B-1.45B-6.00B
NetOtherInvestingChanges22.00M-22.00M4.00M1.00M
DividendsReceivedCFI61.00M126.00M74.00M88.00M
NetInvestmentPurchaseAndSale-5.83B-860.00M-327.00M-1.25B
SaleOfInvestment30.89B12.83B34.38B20.99B
PurchaseOfInvestment-36.71B-13.69B-34.71B-22.25B
NetBusinessPurchaseAndSale-41.00M57.00M-144.00M-2.08B
SaleOfBusiness18.00M66.00M21.00M3.00M
PurchaseOfBusiness-59.00M-9.00M-165.00M-2.08B
NetIntangiblesPurchaseAndSale-713.00M-999.00M-968.00M-2.60B
PurchaseOfIntangibles-713.00M-999.00M-968.00M-2.60B
NetPPEPurchaseAndSale-319.00M-165.00M-85.00M-159.00M
PurchaseOfPPE-319.00M-165.00M-85.00M-159.00M
OperatingCashFlow10.28B7.34B7.48B5.24B
CashFlowFromContinuingOperatingActivities10.28B7.34B7.48B5.24B
TaxesRefundPaid-1.35B-825.00M-733.00M-589.00M
InterestReceivedCFO913.00M707.00M587.00M458.00M
ChangeInWorkingCapital1.56B786.00M2.22B573.00M
ChangeInOtherCurrentLiabilities193.00M846.00M659.00M309.00M
ChangeInOtherCurrentAssets72.00M85.00M-17.00M408.00M
ChangeInPayablesAndAccruedExpense1.84B52.00M663.00M631.00M
ChangeInPayable1.84B52.00M663.00M631.00M
ChangeInAccountPayable1.84B52.00M663.00M631.00M
ChangeInInventory-15.00M7.00M10.00M-6.00M
ChangeInReceivables-539.00M-204.00M906.00M-769.00M
ChangesInAccountReceivables-539.00M-204.00M906.00M-769.00M
OtherNonCashItems-1.10B-932.00M-754.00M-418.00M
StockBasedCompensation596.00M649.00M665.00M647.00M
UnrealizedGainLossOnInvestmentSecurities-12.00M0.00-26.00M-105.00M
ProvisionandWriteOffofAssets17.00M17.00M47.00M9.00M
AssetImpairmentCharge64.00M23.00M0.000.00
DepreciationAmortizationDepletion978.00M1.00B1.16B1.00B
DepreciationAndAmortization978.00M1.00B1.16B1.00B
OperatingGainsLosses-93.00M-137.00M-59.00M31.00M
EarningsLossesFromEquityInvestments-96.00M-127.00M-38.00M47.00M
GainLossOnInvestmentSecurities33.00M-27.00M-14.00M-17.00M
NetForeignCurrencyExchangeGainLoss-30.00M17.00M-7.00M1.00M
NetIncomeFromContinuingOperations8.71B6.04B4.37B3.63B
SEC Filings

No SEC filings found for this symbol (may be non-US or ticker not in SEC index).

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