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Tencent Music Entertainment Group

Tencent Music Entertainment Group

NYSE•TME
CEO: Mr. Kar Shun Pang
セクター: Communication Services
業種: Internet Content & Information
上場日: 2018-12-12
Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends. The company also delivers music-centric live streaming services primarily through the Live Streaming tab on QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with a diverse audience base; and Lazy Audio, an audio platform. In addition, it sells music-related merchandise; and artist-related merchandise, such as branded apparel, posters and art prints, and accessories and integrated and technology-driven music solutions that help IoT device manufacturers build and operate their branded music services on their IoT devices, as well as offers advertising services across its online karaoke platform and online music apps. The company is headquartered in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.
連絡先情報
Building D, Unit 3, 12th Floor Kexing Science Park Kejizhongsan Avenue,Hi-Tech Park, Nansha, Shenzhen, 518057, China
86-75-5860-13388
www.tencentmusic.com
時価総額
$24.30B
PER (TTM)
15.0
65.3
配当利回り
1.2%
52週高値
$26.70
52週安値
$11.71
52週レンジ
28%
順位20Top 6.4%
6.1
F-Score
改良版 Piotroski 分析
9年ファンダメンタル
強い • 6.1 / 9 ポイント
スコアレンジ (0-9)
8-9: 価値が優れている
6-7: 基礎体質が強い
4-5: 全体的に堅調
0-3: パフォーマンスが弱い
データ期間: 2017-2025

財務ダッシュボード

Q3 2025 データ

売上高

$1.18B+20.64%
直近4四半期の推移

EPS

$0.20+40.00%
直近4四半期の推移

フリーCF

$514.67M+70.12%
直近4四半期の推移

2024 Annual 決算ハイライト

主なハイライト

Online Music Revenue Surges Online music revenue reached RMB 21.74B in 2024, up 25.5%, driven by 117.6M paying users and improved ARPPU.
Profitability and Margin Expansion Operating profit grew 43.8% to RMB 8.71B in 2024; gross margin expanded to 42.3% from 35.3% year prior.
Shareholder Payouts Confirmed Board declared 2024 cash dividend of US$0.09 per ordinary share, totaling approximately US$273M payout.
Share Buyback Program Active Repurchased 9.91M ADSs in September 2024 and 5.98M in November 2024 under ongoing share repurchase programs.

リスク要因

Social Entertainment Revenue Decline Social entertainment revenue fell 36.1% to RMB 6.66B in 2024 due to live-streaming feature adjustments and compliance.
PRC Regulatory Scrutiny Persists Evolving PRC laws on data privacy, cybersecurity, and content regulation pose ongoing compliance costs and operational risks.
VIE Structure Enforceability Uncertainty Reliance on contractual arrangements for core PRC operations faces legal uncertainty regarding interpretation and enforcement.
Litigation Exposure Remains High 315 copyright infringement lawsuits pending as of year-end 2024, seeking damages of approximately RMB 198.7M.

見通し

Focus on Music Monetization Growth Intend to continue optimizing online music monetization, expecting steady revenue growth from subscriptions and advertising.
Continued Technology and AI Investment Investing in technology systems, including AI tools like DeepSeek LLM, to enhance user experience and content discovery.
Content Ecosystem Diversification Expanding long-form audio offerings and leveraging Tencent ecosystem synergies for content creation and promotion.
Maintaining Capital Allocation Flexibility Future capital needs funded by operating cash flow; board retains discretion over dividend distributions and share repurchases.

同業比較

売上高 (TTM)

Vodafone Group Public Limited CompanyVOD
$78.66B
-12.5%
Charter Communications, Inc.CHTR
$54.77B
-0.6%
Live Nation Entertainment, Inc.LYV
$24.57B
+5.4%

粗利益率 (最新四半期)

Live Nation Entertainment, Inc.LYV
85.1%
+60.6pp
Pinterest, Inc.PINS
82.8%
+0.6pp
Tencent Music Entertainment GroupTME
43.5%
+0.9pp

主要指標

銘柄コード
時価総額
PER (TTM)
ROE (TTM)
負債比率
BIDU$46.46B36.23.4%21.9%
VOD$38.16B-7.3-8.4%41.8%
LYV$36.75B40.8309.8%41.0%

長期トレンド

直近4四半期
売上高
純利益
営業キャッシュフロー
4四半期売上高CAGR
4.5%
緩やかな成長
4四半期純利益CAGR
3.4%
収益性の緩やかな改善
キャッシュフロー安定性
100%
優れたキャッシュフローの実績

深度リサーチ

次回決算:2026年3月17日
|
EPS:$0.23
|
売上高:$1.19B
財務レポート
財務データ
全年度

  • Form 20-F - FY 2024

    会計期末: 2024年12月31日|提出日: 2025年4月23日|
    売上高: $3.95B+2.3%
    |
    EPS: $0.60+36.1%
    予想を上回る

  • Form 20-F - FY 2023

    会計期末: 2023年12月31日|提出日: 2024年4月18日|
    売上高: $3.92B-2.1%
    |
    EPS: $0.45+37.4%
    予想を上回る

  • Form 20-F - FY 2022

    会計期末: 2022年12月31日|提出日: 2023年4月25日|
    売上高: $3.92B-9.3%
    |
    EPS: $0.45+26.4%
    予想通り

  • Form 20-F - FY 2021

    会計期末: 2021年12月31日|提出日: 2022年4月26日|
    売上高: $3.92B+7.2%
    |
    EPS: $0.45-27.2%
    予想を下回る

  • Form 20-F - FY 2020

    会計期末: 2020年12月31日|提出日: 2021年4月9日|
    売上高: $3.92B+14.6%
    |
    EPS: $0.45+2.5%
    予想通り