Tencent Music Entertainment Group (TCMEF) income statement

TCMEFOTCRadio Broadcasting StationsFiscal year ends December 31Also trades as TME

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 17, 2026Score 12/30

$4.69+0.70 (+17.54%)

Close on Oct 19, 2026Market cap $7.38BP/E –Yield –

Tencent Music Entertainment Group income statement

AnnualQuarterlyTTM

CNY USD

Millions of CNY, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31
Revenue	32,902	28,401	27,752	28,339	31,244	29,153	25,434	18,985	10,981	4,361
Cost of Revenue	18,367	16,376	17,957	19,566	21,840	19,851	16,761	11,708	7,171	3,129
Gross Profit	14,535	12,025	9,795	8,773	9,404	9,302	8,673	7,277	3,810	1,232
Research & Development	2,317	2,280	2,525	2,580	2,339	1,667	1,159	937	797	449
Selling & Marketing	941	865	897	1,144	2,678	2,475	2,041	1,714	913	365
Advertising Expenses	672	611	603	852	2,387	2,227	1,823	1,511	660	193
Operating Expenses	4,857	4,676	5,018	5,557	6,687	5,576	4,744	3,972	2,434	1,148
Operating Income	13,364	8,710	6,059	4,443	3,800	4,710	4,622	2,039	1,593	103
Interest Expense	129	94	141	108	121	97	64	35	–	–
Income from Equity Investments	42	96	127	38	-47	19	-18	-1.00	4.00	11
Asset Impairment Charges	82	64	23	–	–	4.00	43	2.00	2.00	–
Pretax Income	13,277	8,712	6,045	4,373	3,632	4,632	4,540	2,003	1,597	114
Income Tax Expense	1,924	1,603	825	534	417	456	563	171	278	29
Net Income incl. Noncontrolling Interests	11,353	7,109	5,220	3,839	3,215	4,176	3,977	1,832	1,319	85
Minority Interest in Earnings	297	465	300	162	186	21	-5.00	-1.00	-7.00	3.00
Net Income	11,056	6,644	4,920	3,677	3,029	4,155	3,982	1,833	1,326	82
Shares Outstanding (Basic, Weighted)(shares)	3,067	3,084	3,122	3,204	3,321	3,314	3,273	3,076	2,593	1,832
Shares Outstanding (Diluted, Weighted)(shares)	3,109	3,131	3,168	3,235	3,363	3,360	3,348	3,159	2,639	1,899
EBITDA	14,739	9,688	7,063	5,603	4,801	5,534	5,205	2,408	1,972	339

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Jun 30, 2026

Profitability, FY2025

Gross margin: 44.2%
Operating margin: 40.6%
Net margin: 33.6%
Return on equity, FY2025: 14.9%

Financial strength

Current ratio: 1.74
Debt to equity: 0.17
Debt to assets: 11.2%
Cash to current liabilities: 104.2%

Valuation

P/E ratio: –
Price to sales: 1.49
Price to book: 0.63
Dividend yield: –

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