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Tencent Music Entertainment Group Sponsored ADR

TME Communication Services Internet Content & Information

Tencent Music Entertainment Group Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $4.6 billion, up 15.8% from fiscal 2024. In the quarter to June 2026, revenue grew 11.8%, EPS grew 4.55%, free cash flow grew 83.7% and total debt rose 212.5%, each against the same quarter a year earlier.

8.63 0.02 −0.23%
Market cap
$5.5B
P/E
10.4×
Fwd P/E
10.4×
Dividend yield
2.78%
F-score
8/9
Altman Z
7.20
Beneish M
−2.22
Dividend safety
77/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 59.68%

Capital & Financial Ratios $m

Market Cap 5,460.00
Revenue 4,846.67
Net Income 1,846.83
Free Cash Flow 1,609.13
Net Debt (2,966.00)
Current Ratio 1.74 (at or above 1.5: strong)
Debt/Equity 0.13 (at or below 0.5: strong)
P/E ratio 10.40
Fwd P/E 10.40
P/S ratio 2.79
P/B ratio 1.13
Past 5Y EPS Growth 21.83% (at or above 15%: strong)
This Y EPS Growth (17.73%) (below 0%: weak)
Next Y EPS Growth 7.52%
Next Y revenue growth 15.30% (at or above 10%: strong)
Next 5Y EPS Growth (0.79%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.2×, against a ten-year median of 3.8×; over the ten years it ranged from 0.9× in 2022 to 9.7× in 2021.
P/E against its own 10 years 2.83%
10-year low 10-year high
P/S against its own 10 years 25.56%
10-year low 10-year high
P/B against its own 10 years 10.82%
10-year low 10-year high
EV/Sales against its own 10 years 23.48%
10-year low 10-year high
EV/FCF against its own 10 years 9.22%
10-year low 10-year high

Dividends

Payout Ratio 0.30
Annual Dividend Rate 0.24
Annual Dividend Yield 2.78%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.24
0.24
2025 0.22
0.18
2024 0.14
0.14
2023 Powerpack
2022 Powerpack
2021 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3,331 3,786 3,384 4,519
Receivables 412 488 543 617
Inventory 1 3 6 14
Other — — — —
4,230 4,805 4,515 5,849
2023 2024 2025 Q'26
Payables 707 957 874 990
ST’ Debt — — — —
Other — — — —
1,698 2,302 2,029 3,352

Compound Annual Growth %

10y 5y 3y
Sales — 1.62% 2.81%
Cash Flow — 14.99% 8.58%
Earnings — 20.63% 41.19%
Book Value — 8.62% 16.53%

Revenue $m

Mar Jun Sep Dec Year
’26 1,145 1,317 — — —
’25 1,014 1,178 1,189 1,196 4,577
’24 937 985 — — 3,951
’23 1,020 1,005 900 996 3,921
’22 1,048 1,031 1,035 1,097 4,211
’21 1,194 1,240 1,211 1,198 4,843
’20 891 981 1,116 1,236 4,224
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 338 428 — — —
’25 347 233 521 322 1,423
’24 372 403 — — 1,429
’23 270 270 195 302 1,037
’22 393 172 136 411 1,112
’21 287 150 249 126 812
’20 151 202 92 263 708
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 338 428 — — —
’25 347 233 521 280 1,258
’24 372 403 — — 1,286
’23 270 270 195 278 872
’22 393 165 136 398 955
’21 287 150 249 101 618
’20 151 193 92 247 635
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.19 0.23 — — —
’25 0.38 0.22 0.19 0.20 1.02
’24 0.13 0.15 — — 0.58
’23 0.11 0.11 0.10 0.12 0.44
’22 0.06 0.08 0.09 0.11 0.33
’21 0.08 0.08 0.07 0.05 0.28
’20 0.07 0.08 0.10 0.11 0.38
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — 11.81 11.27 9.22 5.91 2.95 5.70 8.19 10.26

Analyst estimates 2026–2028

Powerpack
High — — 14.75 19.97 20.18 32.25 8.71 9.29 15.77 26.70
People
People Employees — 2,559 3,041 3,610 4,769 5,966 5,805 5,185 5,353 5,690
Revenue/emp, $m 0.00 0.64 0.94 1.02 0.89 0.81 0.73 0.76 0.74 0.80
Income, $m
Income, $m Revenue 656 1,625 2,869 3,680 4,224 4,843 4,211 3,921 3,951 4,577
Gross margin, % 23.78 34.70 38.33 34.10 31.91 30.10 30.96 35.29 42.34 44.18
EBT 16 236 303 657 671 563 650 854 1,212 1,847
EBT margin, % 2.44 14.54 10.55 17.85 15.89 11.62 15.43 21.78 30.67 40.35
Net income 12 236 303 657 671 563 650 854 1,212 1,847
Depreciation 36 56 56 84 119 155 172 142 136 191
Per share, $
Per share, $ Revenue 0.40 1.25 1.87 2.25 2.55 2.92 2.63 2.51 2.56 2.98
Earnings 0.00 0.15 0.17 0.35 0.38 0.29 0.33 0.44 0.59 1.03
Cash flow 0.08 0.29 0.55 0.55 0.43 0.49 0.69 0.66 0.93 0.93
Capex 0.00 (0.01) (0.01) (0.03) (0.04) (0.12) (0.10) (0.11) (0.09) (0.11)
Free cash flow 0.08 0.28 0.54 0.52 0.38 0.37 0.60 0.56 0.83 0.82
Book value 1.80 2.98 3.71 3.86 4.61 4.77 4.56 5.18 6.29 7.53
Shares, m 1,648 1,297 1,538 1,636 1,657 1,661 1,602 1,561 1,542 1,534
Valuation, ×
Valuation, × P/E 107.69 107.69 0.00 33.54 52.00 24.46 25.29 19.84 22.70 17.36
P/S 0.00 0.00 0.00 5.22 7.55 2.35 3.27 3.47 4.59 5.87
P/B 0.00 0.00 3.62 3.04 4.17 1.44 1.89 1.69 2.03 2.33
EV/Sales 0.00 0.00 0.00 4.34 6.83 1.86 2.73 2.83 3.91 5.24
EV/FCF 0.00 0.00 0.00 18.74 53.02 19.49 20.19 27.56 23.41 29.33
Cash, $m
Cash, $m Operating cash flow 131 370 851 897 708 812 1,112 1,037 1,429 1,423
Capex (6) (11) (22) (41) (73) (194) (156) (164) (144) (165)
Free cash flow 131 359 829 856 635 618 955 872 1,286 1,258
Balance, $m
Balance, $m Working capital 356 583 2,197 2,666 3,200 2,533 2,206 2,532 2,503 2,486
Total debt — — — 87 750 785 823 796 497 486
Net debt (479) (766) (2,635) (3,164) (3,021) (2,381) (2,286) (2,534) (3,289) (2,898)
Shareholders’ equity 2,968 3,870 5,707 6,320 7,641 7,914 7,300 8,083 9,699 11,552
Returns, %
Returns, % ROA 0.30 5.01 4.95 8.02 6.87 4.62 5.36 6.74 7.95 11.46
ROIC 0.00 4.10 10.16 11.26 7.30 4.76 5.96 7.60 9.97 9.72
ROE 0.34 5.74 5.78 9.58 8.62 6.04 7.18 9.04 10.39 14.47
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 5 Oct 2026

Charts ten years each

Tencent Music Entertainment Group Sponsored ADR vs peers in Internet Content & Information (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SNAP Snap Inc. $10.9B — (loss-making) — (loss-making) +18.89% (above 0%: growing) n/m +406.61% (above 0%: growing) 58.23% (10.68%) Compare
MTCH Match Group Inc. $10.1B 14.3× 13.0× −1.23% (below 0%: shrinking) +43.14% (above 0%: growing) +52.63% (above 0%: growing) 76.06% 28.77% Compare
Z Zillow Group, Inc. $7.1B 140× 139× +17.86% (above 0%: growing) n/m −179.07% (below 0%: shrinking) 72.80% (1.30%) Compare
ZG Zillow Group, Inc. $7.1B 144× 43.4× +17.86% (above 0%: growing) n/m −179.07% (below 0%: shrinking) 72.80% (1.30%) Compare
BZ KANZHUN LIMITED Sponsored ADR $6.5B 11.5× 11.7× +20.45% (above 0%: growing) +186.36% (above 0%: growing) −2.17% (below 0%: shrinking) 86.97% 35.99% Compare
TME Tencent Music Entertainment Group Sponsored ADR $5.5B 10.4× 10.4× +11.80% (above 0%: growing) +4.55% (above 0%: growing) +83.69% (above 0%: growing) 44.19% 29.69%
BILI Bilibili Inc. Sponsored ADR $4.9B 26.5× 29.7× +15.10% (above 0%: growing) +71.43% (above 0%: growing) +130.65% (above 0%: growing) 37.22% 4.70% Compare
RUM RUM Group Inc. $3.1B — (loss-making) — (loss-making) +60.92% (above 0%: growing) n/m −455.57% (below 0%: shrinking) 24.18% (175.35%) Compare
PPLI People Incorporated $3.0B 8.5× — (loss-making) −1.47% (below 0%: shrinking) +156.82% (above 0%: growing) +409.02% (above 0%: growing) 64.16% (3.27%) Compare
Median of peers $6.8B 20.4× 29.7× +17.86% +114.13% +25.23% 68.48% (1.30%)

All 77 Internet Content & Information stocks →

Tencent Music Entertainment Group Sponsored ADR (TME) key facts

  • Strength: Tencent Music Entertainment Group Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $4.6 billion, up 15.8% from fiscal 2024.
  • Tencent Music Entertainment Group Sponsored ADR (TME) is an Internet Content & Information company in the Communication Services sector, traded in the US as an ADR.
  • As of October 16, 2026, TME traded at $8.63, a market capitalization of $5.5 billion.
  • Tencent Music Entertainment Group Sponsored ADR pays an annual dividend of $0.24 per share, a yield of 2.78%, with a payout ratio of 29.6%.
  • Return on equity was 14.5% and debt-to-equity 0.13.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 7.20 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 5, 2026.

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stockrow.com/TME · Data as of Oct 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com