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+16.0% | 3.95B+0.7% | 3.92B-6.9% | 4.21B-13.1% | 4.84B+14.7% | |
| 2.02B+21.0% | 1.67B+20.8% | 1.38B+6.2% | 1.30B-10.6% | 1.46B+8.2% | ||
| Cost of revenue | 2.56B+12.3% | 2.28B-10.3% | 2.54B-12.7% | 2.91B-14.2% | 3.39B+17.7% | |
| Research & development | 322M+1.8% | 317M-11.2% | 357M-6.9% | 383M+5.7% | 363M+50.1% | |
| Operating income | 1.86B+53.6% | 1.21B+41.4% | 856M+29.7% | 660M+12.0% | 589M-13.7% | |
| Interest expense | 18.0M+37.4% | 13.1M-34.4% | 19.9M+24.2% | 16.0M-14.5% | 18.8M+33.5% | |
| Pre-tax income | 1.85B+52.6% | 1.21B+41.8% | 854M+31.5% | 650M+15.4% | 563M-16.1% | |
| Income tax | 268M+20.2% | 223M+91.1% | 117M+47.0% | 79.3M+22.7% | 64.7M-2.2% | |
| 1.58B+59.9% | 988M+34.0% | 738M+29.3% | 570M+14.4% | 498M-17.6% | ||
| Net income to common | 1.54B+66.6% | 923M+32.8% | 695M+27.3% | 546M+16.3% | 470M-22.0% | |
| Weighted-avg shares (basic) | 3.07B-0.6% | 3.08B-1.2% | 3.12B-2.6% | 3.20B-3.5% | 3.32B+0.2% | |
| Weighted-avg shares (diluted) | 3.11B-0.7% | 3.13B-1.2% | 3.17B-2.0% | 3.23B-3.8% | 3.36B+0.1% | |
| Dividends per share | $0.09+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-2.0% | 4.73B+12.2% | 4.22B+9.5% | 3.85B-8.5% | 4.21B-13.4% | ||
| Cash & equivalents | 1.21B-32.9% | 1.80B-5.6% | 1.91B+38.0% | 1.39B+33.8% | 1.03B-39.4% | |
| Inventory | 5.86M+86.0% | 3.15M+179.7% | 1.13M-44.5% | 2.03M-46.1% | 3.77M+36.5% | |
| 14.7B+18.3% | 12.4B+16.5% | 10.6B+9.5% | 9.71B-8.0% | 10.6B+0.9% | ||
| Property, plant & equipment | 172M+56.1% | 110M+59.4% | 69.0M+47.4% | 46.8M+22.7% | 38.2M+41.4% | |
| Goodwill | 2.93B+9.0% | 2.69B-2.2% | 2.75B-2.6% | 2.83B-5.9% | 3.00B+11.9% | |
| Total non-current assets | 10.0B+30.8% | 7.66B+19.2% | 6.42B+9.5% | 5.86B-7.7% | 6.35B+13.2% | |
| Total current liabilities | 2.09B-8.0% | 2.27B+34.0% | 1.69B-0.4% | 1.70B+3.5% | 1.64B+11.4% | |
| Total liabilities | 2.78B-1.9% | 2.84B+9.9% | 2.58B-0.4% | 2.59B+1.9% | 2.54B+6.7% | |
| 11.5B+23.4% | 9.30B+18.1% | 7.87B+12.9% | 6.97B-11.7% | 7.90B-1.4% | ||
| Total equity incl. non-controlling | 11.9B+24.3% | 9.55B+18.6% | 8.06B+13.1% | 7.12B-11.2% | 8.02B-0.9% | |
| Shares outstanding (cover) | 3.15B | — | — | — | — | |
| 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-0.3% | 1.43B+37.7% | 1.04B-6.7% | 1.11B+36.8% | 812M+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 | 0.00-100.0% | |
| 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+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+55.3% | 35.5B+21.9% | 29.1B+4.7% | 27.8B+20.9% | 23.0B-64.4% | |
| P/E | 34.9×-2.9% | 36.0×-29.6% | 51.1×-8.5% | 55.9×+20.9% | 46.2×-56.7% | |
| P/S | 12.1×+33.9% | 9.0×+30.1% | 6.9×+20.4% | 5.7×+20.9% | 4.8×-68.9% | |
| P/B | 4.8×+25.8% | 3.8×-8.6% | 4.2×+18.6% | 3.5×+20.9% | 2.9×-63.9% | |
| Earnings yield | 2.9%+3.0% | 2.8%+42.1% | 2.0%+9.3% | 1.8%-17.3% | 2.2%+131.2% | |
| Dividend yield | 0.50%-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.