Bilibili Inc. Sponsored ADR (BILI) vs Tencent Music Entertainment Group Sponsored ADR (TME)

Bilibili Inc. Sponsored ADR and Tencent Music Entertainment Group Sponsored ADR are both Internet Content & Information companies. Tencent Music Entertainment Group Sponsored ADR is the larger, with a market value of $6.0B against $4.8B — 1.2× the size. Tencent Music Entertainment Group Sponsored ADR trades at the lower P/E: 11.4× against 27.0×. Tencent Music Entertainment Group Sponsored ADR grew revenue faster over the last twelve months: 17.8% against 14.7%. Tencent Music Entertainment Group Sponsored ADR has the higher net margin (26.4% vs 4.83%) and the lower return on invested capital (9.92% vs 76.5%). Across the 22 metrics below, Tencent Music Entertainment Group Sponsored ADR leads on 14 and Bilibili Inc. Sponsored ADR on 8.

Valuation

Metric BILI TME Internet Content & Information median
P/E 26.98 11.37 12.38
P/S 1.30 3.05 0.93
P/B 2.69 1.24 1.24
Price to free cash flow 3.84 14.71 10.76
EV/EBITDA 18.78 8.28 10.74
EV/Sales 0.83 2.43 1.20
Earnings yield 3.71% 8.79% (1.71%)
Free cash flow yield 26.04% 6.80% 4.26%

Profitability

Metric BILI TME Internet Content & Information median
Gross margin 37.00% 44.34% 63.25%
Operating margin 4.40% 29.41% (1.87%)
Net margin 4.83% 26.37% (1.37%)
Free cash flow margin 0.00% 33.20% 3.47%
Return on equity 0.00% 10.65% (1.19%)
Return on assets 3.83% 7.91% 0.00%
Return on invested capital 76.46% 9.92% 0.00%

Growth

Metric BILI TME Internet Content & Information median
Revenue growth (TTM) 14.66% 17.81% 6.92%
EPS growth (last fiscal year) 188.64% 75.86% 34.37%
Revenue growth, 5-year CAGR 18.73% 1.62% 10.46%
Net income growth, 5-year CAGR 0.00% 20.63% 0.00%

Health

Metric BILI TME Internet Content & Information median
Debt to equity 0.60 0.13 0.01
Current ratio 1.32 1.74 1.84
Net debt to EBITDA (4.39) (1.88) (0.53)

Dividend

Metric BILI TME Internet Content & Information median
Dividend yield — 2.54% 1.19%
Payout ratio — 0.30 0.27

Size

Metric BILI TME Internet Content & Information median
Market cap 4.83b 5.96b 693.23m

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