Communication Services · Internet Content & Information
Price
$8.39
Market Cap
$12.9B
Employees
5,353
Beta
0.77
Avg Volume
11,002,970
CEO
Zhu Liang
Business Description
Tencent Music Entertainment Group (TME) is a premier operator of online music entertainment platforms across the People's Republic of China, offering a range of services including music streaming, digital karaoke, and live interactive broadcasting. Its offerings encompass popular streaming platforms like QQ Music, Kugou Music, and Kuwo Music, which facilitate personalized music discovery and listening for users. The company also developed WeSing, an engaging application that allows users to sing, socialize with friends, share their performances, and explore songs sung by others. Furthermore, TME runs interactive live broadcasting platforms, notably Kugou Live and Kuwo Live, providing an online venue for performers to exhibit their talents and interact with their audience. Kuwo Changting acts as a specialized audio content platform, featuring diverse spoken word entertainment such as audiobooks, traditional cross-talk, and radio dramas. Beyond its digital services, TME sells music-related hardware, including Kugou headsets, smart speakers, WeSing karaoke microphones, and Hi-Fi audio systems. It also handles online ticketing for music events and partners with manufacturers of smart devices and automobiles to embed and manage music services within their products and vehicles. Tencent Music Entertainment Group maintains a strategic partnership with China Literature. Headquartered in Shenzhen, China, the company functions as a subsidiary of Tencent Holdings Limited.
Business History
Price Overview
Last updated: Jun 27, 2026 8:58am (just now)$8.39
+0.23 (+2.82%)
Day Range
$7.94 – $8.46
52-Week Range
$7.94 – $26.70
50-Day MA
$9.12
200-Day MA
$15.59
Volume
8,103,042.00
Analyst Price Targets
Low
$10.70
Consensus
$16.02
High
$23.00
(33 analysts)
Share Structure
Outstanding
1,536,951,899.00
Float
1,119,512,537.00
Free Float
72.8%
Normal free float
— 72.8% of shares trade freely, ~27.2% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
9.53
Stock Price: $8.39
EPS (Diluted): 7.00
EPS (Diluted): 7.00
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
2.34
Stock Price: $8.39
Total Equity: $80.34B
Shares: 1,554,402,000
Total Equity: $80.34B
Shares: 1,554,402,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
5.75
Market Cap: $12.90B
Total Debt: $3.62B
Cash: $8.49B
EBITDA: $14.77B
Total Debt: $3.62B
Cash: $8.49B
EBITDA: $14.77B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$183.3B
Market Cap: $12.90B
Total Debt: $3.62B
Cash: $8.49B
Total Debt: $3.62B
Cash: $8.49B
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
44.2%
Gross Profit: $14.54B
Revenue: $32.90B
Revenue: $32.90B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
29.6%
Operating Income: $9.74B
Revenue: $32.90B
Revenue: $32.90B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
33.6%
Net Income: $11.06B
Revenue: $32.90B
Revenue: $32.90B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
11.0%
Net Income: $11.06B
Total Equity: $80.34B
Total Equity: $80.34B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
11.4%
Operating Income: $9.74B
Tax Rate: 14.5%
Equity: $80.34B
Total Debt: $3.62B
Cash: $8.49B
Tax Rate: 14.5%
Equity: $80.34B
Total Debt: $3.62B
Cash: $8.49B
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.22
Current Assets: $32.48B
Current Liabilities: $14.60B
Current Liabilities: $14.60B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.05
Short-Term Debt: $116.07M
Long-Term Debt: $3.50B
Total Debt: $3.62B
Total Equity: $80.34B
Long-Term Debt: $3.50B
Total Debt: $3.62B
Total Equity: $80.34B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$21.17
Revenue: $32.90B
Shares: 1,554,402,000
Shares: 1,554,402,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$51.68
Total Equity: $80.34B
Shares: 1,554,402,000
Shares: 1,554,402,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$6.35
Operating CF: $10.16B
CapEx: -$296.69M
Shares: 1,554,402,000
CapEx: -$296.69M
Shares: 1,554,402,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.0%
Last Dividend: N/A
Stock Price: $8.39
Stock Price: $8.39
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $11.06B
Net Income: $11.06B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares TME against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 6:47pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $31.2B | $28.3B | $27.8B | $28.4B | $32.9B |
| Cost of Revenue | $21.8B | $19.6B | $18.0B | $16.4B | $18.4B |
| Gross Profit | $9.4B | $8.8B | $9.8B | $12.0B | $14.5B |
| Operating Expenses | $5.6B | $4.3B | $3.7B | $3.3B | $4.8B |
| Operating Income | $3.8B | $4.4B | $6.1B | $8.7B | $9.7B |
| Net Income | $3.0B | $3.7B | $4.9B | $6.6B | $11.1B |
| EBITDA | $4.8B | $5.6B | $5.7B | $9.8B | $14.8B |
| EPS | $1.82 | $2.30 | $3.16 | $4.30 | $7.00 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:47pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $6.6B | $9.6B | $13.6B | $13.2B | $8.5B |
| Total Current Assets | $26.8B | $26.6B | $29.9B | $34.5B | $32.5B |
| Total Assets | $67.3B | $67.0B | $75.5B | $90.4B | $102.6B |
| Current Liabilities | $10.5B | $11.7B | $12.0B | $16.6B | $14.6B |
| Long-Term Debt | $5.1B | $5.5B | $5.6B | $3.6B | $3.5B |
| Total Liabilities | $16.2B | $17.9B | $18.3B | $20.7B | $19.5B |
| Total Equity | $50.3B | $48.1B | $55.9B | $67.9B | $80.3B |
| Retained Earnings | $14.2B | $12.1B | $17.0B | $20.1B | $29.4B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:47pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $5.2B | $7.5B | $7.3B | $10.3B | $10.2B |
| Capital Expenditure | -$2.8B | -$1.1B | -$1.2B | -$1.0B | -$296.7M |
| Free Cash Flow | $2.5B | $6.4B | $6.2B | $9.2B | $9.9B |
| Acquisitions (net) | -$2.1B | -$144.0M | $57.0M | -$41.0M | -$1.0B |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$3.5B | -$3.1B | -$1.2B | -$1.9B | -$652.7M |
| Net Change in Cash | -$4.5B | $3.0B | $4.0B | -$403.0M | -$4.1B |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 8:58am (just now)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$35.6B $34.7B – $36.4B
|
$38.9B $37.7B – $43.0B
|
$42.3B $40.4B – $45.3B
|
$41.8B $39.9B – $44.7B
|
| EBITDA |
$9.6B $9.4B – $9.8B
|
$10.5B $10.2B – $11.6B
|
$11.4B $10.9B – $12.2B
|
$11.3B $10.8B – $12.1B
|
| Net Income |
$9.3B $9.0B – $9.7B
|
$10.4B $10.1B – $10.6B
|
$13.6B $10.0B – $17.2B
|
$12.0B $11.4B – $13.1B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:47pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -9.3% | -2.1% | +2.3% | +15.8% |
| Gross Profit Growth | -6.7% | +11.6% | +22.8% | +20.9% |
| Operating Income Growth | +16.9% | +36.4% | +43.8% | +11.8% |
| Net Income Growth | +21.4% | +33.8% | +35.0% | +66.4% |
| EBITDA Growth | +18.8% | +1.3% | +71.6% | +50.5% |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-03-18 | Tsang Wai Yip | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Mitchell James Gordon | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Mitchell James Gordon | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Irvin Brent Richard | 0.00 | $0.00 | $0 | |
| 2026-03-18 | PANG KAR SHUN CUSSION | 0.00 | $0.00 | $0 | |
| 2026-03-18 | PANG KAR SHUN CUSSION | 896,740.00 | $4.65 | $4.2M | |
| 2026-03-18 | PANG KAR SHUN CUSSION | 4,250.00 | $14.28 | $60,699 | |
| 2026-03-18 | PANG KAR SHUN CUSSION | 30.00 | $14.09 | $423 | |
| 2026-03-18 | PANG KAR SHUN CUSSION | 61,455.00 | $12.40 | $762,042 | |
| 2026-03-18 | PANG KAR SHUN CUSSION | 675,642.00 | $3.86 | $2.6M | |
| 2026-03-18 | PAN TSAI-CHUN | 0.00 | $0.00 | $0 | |
| 2026-03-18 | PAN TSAI-CHUN | 155,320.00 | $3.86 | $599,535 | |
| 2026-03-18 | PAN TSAI-CHUN | 49,151.00 | $10.51 | $516,577 | |
| 2026-03-18 | Ngan Edith Manling | 0.00 | $0.00 | $0 | |
| 2026-03-18 | Ngan Edith Manling | 4,076.00 | $0.00 | $0 | |
| 2026-03-18 | LIANG ZHU | 0.00 | $0.00 | $0 | |
| 2026-03-18 | LIANG ZHU | 131,120.00 | $15.21 | $2.0M | |
| 2026-03-18 | LIANG ZHU | 1,544,324.00 | $3.86 | $6.0M | |
| 2026-03-18 | LIANG ZHU | 294,423.00 | $11.05 | $3.3M | |
| 2026-03-18 | MAK YAU KEE ADRIAN | 0.00 | $0.00 | $0 |
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:47pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-04-02 | $0.24 | 2026-03-17 | 2026-04-02 | 2026-04-23 |
| 2025-04-03 | $0.18 | 2025-03-17 | 2025-04-03 | 2025-04-24 |
| 2024-05-31 | $0.14 | 2024-05-13 | 2024-05-31 | 2024-06-27 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for TME — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30