Full text
Earnings transcript
Read the complete earnings call transcript.
TME
Tencent Music Entertainment Group
$9.29
0.22
(2.43%)
| Exchange: | NYSE |
| Market Cap: | 14.278B |
| Shares Outstanding: | 3.25B |
Delayed data
About The Company
| Sector: | Communication Services | |||||
| Industry: | Internet Content & Information | |||||
| CEO: | Zhu Liang | |||||
| Full Time Employees: | 5353 | |||||
| Address: |
| |||||
| Website: | https://www.tencentmusic.com |
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.
Click to read more…
Revenue Segmentation
EPS
Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.
Earnings Call
AI summary
Key takeaways
Short, structured highlights from the call so you can focus on what matters.
Log in to continue
Log in to read the full transcript and AI-generated earnings summaries.
Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 27,752,000 | 28,401,000 | 32,902,000 |
| Gross Profit | 9,795,000 | 12,025,000 | 14,535,000 |
| EBITDA | 5,719,000 | 9,814,000 | 14,774,000 |
| Operating Income | 6,059,000 | 8,710,000 | 9,737,000 |
| Net Income | 4,920,000 | 6,644,000 | 11,056,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 75,536,000 | 90,444,000 | 102,587,285 |
| Total Liabilities | 18,334,000 | 20,718,000 | 19,484,400 |
| Total Stockholders Equity | 55,907,000 | 67,863,000 | 80,338,126 |
| Total Debt | 6,048,000 | 6,051,000 | 3,815,428 |
| Cash and Cash Equivalents | 13,567,000 | 13,164,000 | 8,490,403 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 7,337,000 | 10,275,000 | 10,159,454.965 |
| Capital Expenditure | -1,164,000 | 0 | -296,690.340 |
| Free Cash Flow | 6,173,000 | 10,275,000 | 9,862,764.625 |
| Net Income | 6,045,000 | 6,644,000 | 10,754,781.133 |
| Net Change in Cash | 4,012,000 | -403,000 | -4,131,099.709 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 40,180,112.975 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 45,453,255.395 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 42,412,535.891 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 10,865,372.986 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 12,291,318.683 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 11,469,057.393 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 11,393,922.107 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 13,370,779.484 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 12,230,843.232 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 6,692,175.638 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 7,570,440.845 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 7,063,995.554 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 7.870 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 8.600 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 7.330 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 10 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 10 | Full Access | Full Access | Full Access | Full Access |
Log in to continue
Log in and subscribe to Full Access to see up to 5 years of analyst estimates.
Login — it's free(* All numbers are in thousands)
Current Key Metrics
Log in to continue
Log in to see all key valuation metrics and ratios for this symbol.
Login — it's freeForward P/E Ratios
Log in to continue
Log in with Full Access for forward P/E high/low estimates and the full multi-year table.
Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: TME reported strong revenue growth in Q4 and full-year 2024, as highlighted in the earnings call transcript, with consistent increases in net income and operating cash flow based on income and cash flow statement data. This reflects operational efficiency and a solid business model within the online music and entertainment sector.
- High Profitability Metrics: Key metrics such as gross profit margin TTM and net profit margin TTM indicate strong profitability compared to industry averages, supported by data from key metrics columns. This positions TME favorably against competitors in the industry.
- Strong Cash Position: Balance sheet data shows significant cash and cash equivalents, alongside a low debt-to-equity ratio TTM, providing financial flexibility for investments and resilience against market downturns.
Log in with Full Access for Weaknesses, Opportunities, Threats, and the complete SWOT.
At what price to buy it? -
Intrinsic Value Calculator
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about TME valuation
Is Tencent Music Entertainment Group (TME) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Tencent Music Entertainment Group (TME) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is TME a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether TME trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is TME’s P/E ratio?
You can see TME’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for TME?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is TME a good long-term investment?
Whether TME fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
TME
1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.
Daily snapshot
2.43
Trading Metrics:
| Open: | 9.08 | Previous Close: | 9.07 | |
| Day Low: | 9.04 | Day High: | 9.35 | |
| Year Low: | 8.44 | Year High: | 26.7 | |
| Price Avg 50: | 9.28 | Price Avg 200: | 16.65 | |
| Volume: | 2.099M | Average Volume: | 11.646M |
Log in to continue
Log in for multi-period charts (1W–5Y), period tabs, and the same layout as members.
Login — it's freeTME full analysis
Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive analysis of Tencent Music Entertainment Group, ticker TME, a major player in the online music and audio entertainment space. If you’re curious about whether this stock is a potential gem for your portfolio, stick around because we’re covering everything from financials to valuation, recent performance, and more. Let’s get started! Alright, let’s set the stage for what we’re looking at today. Tencent Music Entertainment Group, listed…
