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 $5.5B against $4.9B — 1.1× the size. Tencent Music Entertainment Group Sponsored ADR trades at the lower P/E: 10.4× against 26.5×. 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 26.55 10.40 11.54
P/S 1.28 2.79 0.86
P/B 2.65 1.13 1.20
Price to free cash flow 3.78 13.45 9.63
EV/EBITDA 18.31 7.39 8.68
EV/Sales 0.81 2.17 1.18
Earnings yield 3.77% 9.62% (2.42%)
Free cash flow yield 26.47% 7.44% 2.27%

Profitability

Metric BILI TME Internet Content & Information median
Gross margin 37.00% 44.34% 66.84%
Operating margin 4.40% 29.41% (3.41%)
Net margin 4.83% 26.37% (3.02%)
Free cash flow margin 0.00% 33.20% 1.75%
Return on equity 0.00% 10.65% 0.00%
Return on assets 3.83% 7.91% (0.36%)
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% 2.65%
EPS growth (last fiscal year) 188.64% 75.86% 34.45%
Revenue growth, 5-year CAGR 18.73% 1.62% 9.73%
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 1.82
Net debt to EBITDA (4.39) (1.88) (0.48)

Dividend

Metric BILI TME Internet Content & Information median
Dividend yield — 2.78% 1.07%
Payout ratio — 0.30 0.28

Size

Metric BILI TME Internet Content & Information median
Market cap 4.89b 5.46b 318.52m

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