Tencent Music Entertainment Group (TME) 📈: отчетность и дивиденды за 2025

Capitalization

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	LTM	5 year average	CAGR 5
Капитализация, млрд ¥			19.95	24.58	47.18	24.17	7.99	11.76	11.64	23.14	-13.71
Выручка, млрд ¥	4.36	10.98	18.99	25.43	29.15	31.24	28.34	27.75	27.75	28.38	1.76
Чистая прибыль, млрд ¥	0.082	1.33	1.83	3.98	4.16	3.03	3.68	4.92	4.92	3.95	4.33
EV, млрд ¥			3.81	5.73	41.33	22.74	89.61	90.03	90.03	49.89	73.48
EBIT, млрд ¥	0.116	1.32	2.94	4.62	3.91	2.75	4.49	6.17	6.18	4.39	5.96
EBITDA, млрд ¥	0.352	1.7	3.31	4.6	4.73	3.75	5.65	7.17	7.18	5.18	9.28
Баланс стоимость, млрд ¥	20.63	26.14	37.72	43.59	52.25	50.32	48.1	55.91	55.91	50.03	5.10
FCF, млрд ¥	0.832	2.42	5.49	5.91	4.38	2.48	6.43	6.17	6.17	5.07	0.86
Операционный денежный поток, млрд ¥	0.873	2.5	5.63	6.2	4.89	5.24	7.48	7.34	7.34	6.23	3.43
Операционная прибыль, млрд ¥	0.103	1.59	2.04	4.62	4.71	2.75	4.44	6.06	6.06	4.52	5.58
Операционные расходы, млрд ¥	1.14	2.4	3.97	4.74	5.58	6.69	5.56	3.74	4.82	5.26	-4.63
CAPEX, млрд ¥	0.041	0.077	0.144	0.286	0.501	2.76	1.05	1.16	1.16	1.15	32.32

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	5 quarters average	CAGR 5
Капитализация, млрд ¥	16.35	12.17	9.31	7.17	7.29	8.89	12.99	11.99	10.49	12.08				11.29	6.32
Выручка, млрд ¥				6.91	7.37	7	7.43	6.57	6.89	6.77	6.89	7.16	7.02	6.95	0.37
Чистая прибыль, млрд ¥				0.856	1.06	1.15	1.15	1.17	1.31	1.42	1.31	1.68	1.58	1.46	3.82
EV, млрд ¥				2.54	4.45	2.42	9.02	81.4	64.35	91.94	118.15	156.78	124.22	111.09	14.06
EBIT, млрд ¥				1.05	1.26	1.38	1.39	1.26	1.54	1.76	1.71	2.2	1.85	1.81	3.74
EBITDA, млрд ¥				0.887	1.27	1.4	1.4	1.47	1.72	1.94	1.72	2.25	2.03	1.93	3.37
Баланс стоимость, млрд ¥				47.24	47.22	50.98	48.1	53.93	55.91	59.32	55.91	61.21	63.49	59.17	2.58
FCF, млрд ¥				1.24	1.25	1.85	2.49	1.44	1.81	2.69	1.81	2.94	2.17	2.28	3.69
Операционный денежный поток, млрд ¥				1.24	1.25	1.85	2.49	1.44	1.98	2.69	1.98	2.94	2.17	2.35	1.85
Операционная прибыль, млрд ¥				1.05	1.26	1.38	1.39	1.43	1.71	1.96	1.71	2.2	2.14	1.94	4.59
Операционные расходы, млрд ¥				1.34	1.44	1.23	1.36	1.27	1.07	1.14	1.07	0.812	0.847	0.9878	-4.57
CAPEX, млрд ¥	0.159	0.159	0.159	0.0183	0.1489	0.6067	0.085	0.1295	0.165		0.165			0.2302	-22.93

	5 quarters average	CAGR 5

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	LTM	5 year average	CAGR 5
Наличность, млрд ¥	3.07	5.17	17.36	15.43	11.13	6.59	9.56	13.57	13.57	11.26	-2.54
Short Term Investments ¥	0.261		0.081	7.04	14.9	13.84	11.33	9.97	9.97	11.42	7.21
Long term investments ¥	0.302	4.12	3.78	5.67	15.33	15.4	14.33	19.84		14.11	28.47
Total Receivables ¥	0.809	1.3	1.48	2.2	2.8	3.61	2.67	2.92	3.1	2.84	5.83
Total Current Assets ¥	5	7.47	20.78	26.91	31.69	26.79	26.56	29.94	29.94	28.38	2.16
Чистые активы, млрд ¥	0.108	0.127	0.168	0.327	0.487	0.526	3.2	26.56	3.2	6.22	140.96
Активы, млрд ¥	23.54	30	44.61	52.68	68.27	67.25	67.01	75.54	75.54	66.15	7.47
Short Term Debt ¥	0.074	0.229	0.338	0.069	0.103	0.092	0.123	0.115	0.115	0.1004	10.76
Long Term Debt ¥				0.078	5.18	5.06	5.84	5.64	5.64	4.36	135.42
Задолженность, млрд ¥	2.9	3.85	6.83	9	15.54	16.2	17.88	18.33	18.33	15.39	15.29
Чистый долг, млрд ¥	-3.07	-5.17	-17.36	-15.28	-5.63	-1.23	-3.59	-7.52	-7.52	-6.6500	-13.22
Долг, млрд ¥				0.147	5.28	5.15	5.97	6.05	5.75	4.52	110.32
Interest income ¥	0.02	0.115	0.185	0.496	0.622	0.53	0.641	1.05		0.6678	16.18
Расходы на обслуживание долга ¥		0	0.064	0.064	0.097	0.121	0.108	0.124	0.124	0.1028	14.14
Чист. проц. доходы, млрд ¥	0.032	0.093	0.282	0.551	0.525	0.409	0.603	0.928	0.1478	0.6032	10.99
Goodwill ¥	15.76	16.26	17.09	17.14	17.49	19.12	19.49	19.54		18.56	2.66
Амортизация, млрд ¥	0.236	0.379	0.369	-0.018	0.824	1	1.16	1	1	0.7932	-323.33
Себестоимость, млрд ¥	3.13	7.17	11.71	16.76	19.85	21.84	19.57	17.96	17.96	19.20	1.39
Товарно материальные запасы ¥	0.014	0.03	0.035	0.026	0.018	0.024	0.014	0.008	0.008	0.0180	-21.00

	2021Q1	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	5 quarters average	CAGR 5
Наличность, млрд ¥						10.04	8.58	12.13	9.56	12.38	13.57	10.22	13.57	12.25	10.21	11.96	-5.53
Short Term Investments ¥						11.36	10.33	8.36	11.33	9.84	9.97	16.41	9.97	12.3	18.35	13.40	12.98
Long term investments ¥			15.26	15.4	14.84	12.08	14.43	14.33	17.33	17.97	18.96	19.84				17.69	6.72
Total Receivables ¥						3.13	2.92	2.72	2.67	2.5	3.1	2.81	3.1	3.02	2.94	2.99	-1.05
Total Current Assets ¥						27.72	26.07	25.85	26.56	28.08	29.94	32.54	29.94	30.79	34.53	31.55	2.89
Чистые активы, млрд ¥	0.477	0.493	0.523	0.526	0.515	0.733	0.724	3.2	0.702		0.826					1.24	2.42
Активы, млрд ¥						66.31	66.76	69.11	67.01	72.96	75.54	79.18	75.54	82.41	84.61	79.46	2.29
Short Term Debt ¥						0.088	0.099	0.115	0.123	0.113	0.115	0.097	0.115	0.112	0.109	0.1096	-1.07
Long Term Debt ¥						5.33	5.64	5.54	5.46	5.75	5.71	5.64	5.65	5.67	3.48	5.23	-9.43
Задолженность, млрд ¥						18.03	18.46	17.05	17.88	17.79	18.33	18.42	18.33	19.53	19.38	18.80	1.12
Чистый долг, млрд ¥						-4.25	-2.49	-6.27	-3.59	-6.24	-7.52	-4.22	-7.52	-6.22	-6.38	-6.3720	-3.23
Долг, млрд ¥						5.42	5.74	5.65	5.59	5.86	6.05	6	6.05	6.03	3.83	5.59	-8.74
Interest income ¥			0.102	0.122	0.15	0.151	0.17	0.209	0.223	0.265	0.273	0.277				0.2494	5.80
Расходы на обслуживание долга ¥						0.03	0.024	0.034	0.031	0.035	0.013	0.03	0.013	0.026	0.097	0.0358	49.47
Чист. проц. доходы, млрд ¥					0.12	0.128	0.162	0.193	0.203	0.223	0.238	0.264	0.039	0.0427		0.1613	-28.15
Goodwill ¥			19.1	19.13	19.12	19.49	19.49	19.54	19.49	19.54	19.54	19.57				19.54	0.03
Амортизация, млрд ¥						-0.158	0.008	0.02	0.016	0.2185	0.18	0.18	0.003	0.054	0.18	0.1194	0.00
Себестоимость, млрд ¥						4.84	4.96	4.69	4.98	4.23	4.25	4	4.25	4.15	4.02	4.13	-1.11
Товарно материальные запасы ¥						0.023	0.02	0.012	0.014	0.005	0.008	0.011	0.008	0.014	0.018	0.0118	17.61

Share

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	5 year average	CAGR 5
EPS	0.05	0.8108	0.66	2.93	2.95	2.46	2.27	3.11			3.11	2.74	1.20
Цена акции ао			13.22	11.74	19.24	6.85	8.28	9.01	11.35	12.23	12.23	9.54	12.29
Число акций ао, млн		1635.45	1563.46	1677.53	3364.93	1651.07	1617.25	1584.19			1584.19	1978.99	-1.14
FCF/акцию		1.48	3.51	3.53	1.3	1.5	3.97	3.9			3.9	2.84	2.01

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	5 quarters average	CAGR 5
EPS				0.63	0.86	0.91	0.89	0.7361	0.8304	0.9106	0.8304	1.07	1.01	0.9303	3.99
Цена акции ао	9.8	7.37	5.63	4.41	4.55	5.62	8.18	7.56	6.67	7.74				7.15	6.61
Число акций ао, млн	1668.75	1651.07	1654.31	1624.29	1603.4	1582.65	1587.71	1586.69	1572.74	1561.62				1578.28	-0.27
FCF/акцию				0.764	0.7808	1.17	1.57	0.9082	1.15	1.72	1.15	1.88	1.38	1.46	3.71

	5 quarters average	CAGR 5

Efficiency

IFRS

Reporting Annual Quarterly

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
ROE, %	0.3976	5.07	4.86	9.14	7.95	6.02	7.47	9.46			8.8	41.65	8.01	0.69
ROA, %	0.3484	4.42	4.11	7.56	6.09	4.5	5.48	6.9			6.51	10.08	6.11	-1.81
ROIC, %	0.28	5.34	4.93	8.58	7.26	5.65	6.98				4.22	10.88	6.68	7.20
ROS, %		12.08	9.65	15.66	14.25	9.69	12.98	17.73	17.73	17.73	17.73	17.80	15.17	12.84
ROCE, %	0.5622	5.04	7.77	10.58	7.41	5.39	8.12	9.71		10.8	10.8	36.86	8.29	7.83
Ebit margin, %				18.17	16.23	12.01	15.84	22.23		22.26	22.26		17.71	6.52
Рентаб EBITDA, %	8.07	15.45	17.41	18.1	16.22	12.01	19.93	25.85		25.88	25.88	23.77	19.98	9.80
Чистая рентаб, %	1.88	12.08	9.65	15.66	14.25	9.69	12.98	17.73			17.73	17.70	14.06	2.51
Operation Margin, %		14.51	10.74	18.17	16.16	8.81	15.68	21.83	21.83	21.83	21.83	16.82	18.00	19.90
Чистая процентная маржа, %	1.88	12.08	9.66	15.66	14.25	9.69					9.02	10.05	12.27	-4.31
Доходность FCF, %			27.5	24.06	9.29	10.26	80.43	52.47					35.30	16.88

	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	Industry average	5 quarters average	CAGR 5
ROE, %				1.81	2.25	2.25	2.39	2.17	2.55	2.67	2.36	2.94	2.68	41.65	2.64	1.00
ROA, %				1.29	1.59	1.66	1.72	1.6	1.76	1.84	1.69	2.13	1.9	10.08	1.86	1.54
ROIC, %		1.3	1.13			2.16	2.28							10.88	1.72	15.08
ROS, %				12.4	14.41	16.39	15.5	17.78	18.95	21.01	18.95	23.49	22.57	17.80	20.99	3.56
ROCE, %				2.16	2.61	2.65	2.83	2.28	2.58	2.85	2.68	3.34	2.74	36.86	2.84	1.21
Ebit margin, %									22.3	26.02	24.87	30.7	26.3		26.04	3.35
Рентаб EBITDA, %				12.85	17.23	20	18.91	22.44	24.91	28.68	24.91	31.45	28.87	23.77	27.76	2.99
Чистая рентаб, %				12.4	14.41	16.39	15.5	17.78	18.95	21.01	18.95	23.49	22.57	17.70	20.99	3.56
Operation Margin, %				15.13	17.12	19.72	18.69	21.69	24.87	28.95	24.87	30.7	30.56	16.82	27.99	4.21
Доходность FCF, %	9.75	20.49	7.12	17.31	17.16	20.82	19.2	12.02	17.28	22.23					18.31	1.32

	Industry average	5 quarters average	CAGR 5

Coefficients

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
P/E		10.89	6.17	11.35	7.98	25.35	19.83			19.83	45.22	14.14	26.30
P/BV		0.529	0.5639	0.903	0.4804	1.9	1.71			1.71	12.26	1.11	24.84
P/S		1.05	0.9665	1.62	0.7737	3.29	3.52			3.52	7.43	2.03	29.50
P/FCF		3.64	4.16	10.76	9.74	1.24	1.91	1.89	1.89	1.89	686.79	3.33	-27.96
E/P		0.0919	0.162	0.0881	0.1253	0.4601	0.4182	0.4227	0.4227	0.4227	0.80	0.3698	27.53
EV/EBITDA	-2.61	1.61	1.24	8.74	6.06	15.87	12.55			12.54	38.68	8.89	58.87
EV/EBIT			28.44	42.75	17.69	19.97	14.59	14.57	14.57	14.57		16.28	-3.81
EV/S			5.17	1.42	0.7277	3.16	3.24	3.24	3.24	3.24	7.08	2.72	34.81
EV/FCF			22.23	9.43	9.16	13.94	14.58	14.58	14.58	14.58	699.92	13.37	9.74
Debt/EBITDA			0.0319	1.12	1.37	1.06	0.8432	0.8008	0.8008	0.8008	2.13	0.9750	-10.18
Netdebt/Ebitda	-3.05	-5.25	-3.32	-1.19	-0.3283	-0.6356	-1.05	-1.05	-1.05	-1.05	1.10	-0.8228	26.18
Debt/Ratio			0.0028	0.0773	0.0766	0.089	0.0801	0.0761	0.0761	0.0761	0.17	0.0796	-0.13
Debt/Equity			0.0034	0.101	0.1024	0.124	0.1082	1.8	1.8	1.8	2.60	0.7869	77.42
Debt/Net Income			0.0369	1.27	1.7	1.62	1.23	1.17	1.17	1.17	3.14	1.38	-7.20
Бета				1.2	1.12	0.77	3.01	2.09	-0.7051	-0.7051	0.89	1.26	-191.16
Индекс Альтмана		1.26	1.42	1.52	0.8869	0.3286	0.3362	0.5893	0.5893	0.5893	3.99	0.5461	-7.85

	2021Q2	2021Q3	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2025Q1	Industry average	5 quarters average	CAGR 5
P/E					8.37	6.87	7.75	11.29	19.39	15.15	19.23	24.16	28.51	21.8		45.22	21.77	7.55
P/BV					0.1517	0.1545	0.1744	0.2701	1.59	1.26	1.58	2.2	2.59	2		12.26	1.93	9.68
P/S					1.04	0.9904	1.27	1.75	3.1	2.59	3.51	4.64	5.88	4.69		7.43	4.26	12.61
P/FCF		10.25	4.88	14.04	5.78	5.83	4.8	5.21	8.32	5.79	4.5					686.79	5.72	-1.28
E/P		0.0452	0.05	0.0576	0.1194	0.1455	0.1291	0.0886	0.0974	0.1245	0.1177					0.80	0.1115	-1.83
EV/EBITDA					2.87	3.51	1.72	6.43	55.23	10.73	14.07	17.25	20.56	15.65		38.68	15.65	7.84
EV/EBIT										41.87	52.21	68.93	71.33	67.33			60.33	9.97
EV/S					0.3683	0.6045	0.3448	1.22	12.39	9.34	13.58	17.14	21.9	17.71		7.08	15.93	13.65
EV/FCF					2.05	3.56	1.3	3.62	56.49	35.51	34.23	65.21	53.25	57.38		699.92	49.12	10.07
Debt/EBITDA					6.11	4.52	4.03	3.98	3.98	3.52	3.09	3.52	2.68	1.89		2.13	2.94	-11.70
Netdebt/Ebitda					-4.79	-1.96	-4.47	-2.56	-4.23	-4.38	-2.17	-4.38	-2.76	-3.15		1.10	-3.3680	-6.38
Debt/Ratio					0.0817	0.086	0.0818	0.0834	0.0803	0.0801	0.0758	0.0801	0.0732	0.0452		0.17	0.0709	-10.81
Debt/Equity					0.1147	0.1215	0.1108	0.1161	0.1087	0.1082	0.1012	0.1082	0.0985	0.0603		2.60	0.0953	-11.04
Debt/Net Income					6.33	5.41	4.92	4.85	5.02	4.63	4.22	4.63	3.58	2.42		3.14	3.90	-12.17
Бета															-0.7051	0.89	-0.7051	0.00
Индекс Альтмана	0.462	1.31	0.2691	0.073	0.1925	0.1522	0.0394	0.3193		0.2912					0.5893	3.99	0.2783	31.09

Dividends

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	LTM	Industry average	5 year average	CAGR 5
Див.выплата, млрд	0.0027	0.019	0.127	0.0166	0.106	0.074			0.074		0.0685	31.25
Дивиденд								0.137	0.137		0.1370	0.00
Див доход, ао, %		0	0	0	0	0	0	0.8972	0.8972	0.94	0.8972	0.00
Дивиденды / прибыль, %		1.04	3.19	0	3.5	2.01	4.86		2.01	37.85	2.92	36.12

	2018Q4	2019Q1	2019Q4	2021Q4	2022Q1	2022Q4	2023Q1	Industry average	5 quarters average	CAGR 5
Див.выплата, млрд	0.019	0.019	0.032	0.088	0.088	0.074	0.074		0.0712	18.25
Дивиденды / прибыль, %	-2.17	-2.17	3.07	14.45	16.42	6.45	6.43	37.85	9.36	15.93

	Industry average	5 quarters average	CAGR 5

Other

IFRS

Reporting Annual

	2018	2019	2020	2021	2022	2023	CAGR 5
Всего задолженность	6.24	8.49	9.6				15.44
Персонал, чел				4769	4769	5805	6.77

	CAGR 5

	CAGR 5

Investing Port

NYSE: TME - Tencent Music Entertainment Group

Reporting Tencent Music Entertainment Group

Capitalization

Balance sheet

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