TME financial statements
The full income statement, balance sheet, and cash-flow statement for Tencent Music Entertainment Group American Depositary Shares each representing two (TME), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 4.58B YoY+16.0% | 3.95B YoY+0.7% | 3.92B YoY-6.9% | 4.21B YoY-13.1% | 4.84B YoY+14.7% | |
2.02B YoY+21.0% | 1.67B YoY+20.8% | 1.38B YoY+6.2% | 1.30B YoY-10.6% | 1.46B YoY+8.2% | ||
| Research & development | 322M YoY+1.8% | 317M YoY-11.2% | 357M YoY-6.9% | 383M YoY+5.7% | 363M YoY+50.1% | |
| Operating income | 1.86B YoY+53.6% | 1.21B YoY+41.4% | 856M YoY+29.7% | 660M YoY+12.0% | 589M YoY-13.7% | |
| Interest expense | 18.0M YoY+37.4% | 13.1M YoY-34.4% | 19.9M YoY+24.2% | 16.0M YoY-14.5% | 18.8M YoY+33.5% | |
| Pre-tax income | 1.85B YoY+52.6% | 1.21B YoY+41.8% | 854M YoY+31.5% | 650M YoY+15.4% | 563M YoY-16.1% | |
| Income tax | 268M YoY+20.2% | 223M YoY+91.1% | 117M YoY+47.0% | 79.3M YoY+22.7% | 64.7M YoY-2.2% | |
1.58B YoY+59.9% | 988M YoY+34.0% | 738M YoY+29.3% | 570M YoY+14.4% | 498M YoY-17.6% | ||
3.07B YoY-0.6% | 3.08B YoY-1.2% | 3.12B YoY-2.6% | 3.20B YoY-3.5% | 3.32B YoY+0.2% | ||
3.11B YoY-0.7% | 3.13B YoY-1.2% | 3.17B YoY-2.0% | 3.23B YoY-3.8% | 3.36B YoY+0.1% | ||
| Dividends per share | $0.09 YoY+30.8% | $0.07 | — | — | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
4.64B YoY-2.0% | 4.73B YoY+12.2% | 4.22B YoY+9.5% | 3.85B YoY-8.5% | 4.21B YoY-13.4% | ||
14.7B YoY+18.3% | 12.4B YoY+16.5% | 10.6B YoY+9.5% | 9.71B YoY-8.0% | 10.6B YoY+0.9% | ||
| Total current liabilities | 2.09B YoY-8.0% | 2.27B YoY+34.0% | 1.69B YoY-0.4% | 1.70B YoY+3.5% | 1.64B YoY+11.4% | |
| Total liabilities | 2.78B YoY-1.9% | 2.84B YoY+9.9% | 2.58B YoY-0.4% | 2.59B YoY+1.9% | 2.54B YoY+6.7% | |
11.5B YoY+23.4% | 9.30B YoY+18.1% | 7.87B YoY+12.9% | 6.97B YoY-11.7% | 7.90B YoY-1.4% | ||
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash from operations | 1.42B YoY-0.3% | 1.43B YoY+37.7% | 1.04B YoY-6.7% | 1.11B YoY+36.8% | 812M YoY+14.7% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 YoY-100.0% | |
| Long-term debt repaid | 297M | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 276M YoY+31.5% | 210M | 0.00 | 0.00 | 0.00 | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 55.2B YoY+55.3% | 35.5B YoY+21.9% | 29.1B YoY+4.7% | 27.8B YoY+20.9% | 23.0B YoY-64.4% | |
| P/E | 34.9× YoY-2.9% | 36.0× YoY-29.6% | 51.1× YoY-8.5% | 55.9× YoY+20.9% | 46.2× YoY-56.7% | |
| P/S | 12.1× YoY+33.9% | 9.0× YoY+30.1% | 6.9× YoY+20.4% | 5.7× YoY+20.9% | 4.8× YoY-68.9% | |
| P/B | 4.8× YoY+25.8% | 3.8× YoY-8.6% | 4.2× YoY+18.6% | 3.5× YoY+20.9% | 2.9× YoY-63.9% | |
2.9% YoY+3.0% | 2.8% YoY+42.1% | 2.0% YoY+9.3% | 1.8% YoY-17.3% | 2.2% YoY+131.2% | ||
0.50% YoY-15.3% | 0.59% | — | — | — | ||
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: TME's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TME filings on SEC EDGAR → Not investment advice.