Last 40 quarters of trend data · Communication Services · Internet Content & Information
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 7.98 | 1.32 | 1.73 | 3.65 | 4.23 | 3.12 | 1.30 | 2.25 | 3.01 | 3.25 | 3.04 | 2.68 | 2.16 | 2.25 | 2.88 | 2.88 | 1.54 | 2.37 | 3.29 | 5.35 | 4.12 |
| — | -57.7% | +33.6% | +62.2% | +40.4% | -4.0% | -57.4% | -16.0% | +39.8% | +44.5% | +5.8% | -6.7% | +40.2% | -5.0% | -12.6% | -46.3% | -62.7% | -70.6% | -65.3% | -19.9% | -24.1% | |
| P/S Ratio | 2.58 | 0.36 | 0.46 | 0.88 | 1.08 | 0.90 | 0.76 | 0.59 | 0.67 | 0.77 | 0.65 | 0.51 | 0.39 | 0.40 | 0.47 | 0.44 | 0.22 | 0.30 | 0.30 | 0.37 | 0.39 |
| — | -59.4% | -39.3% | +48.6% | +59.7% | +16.3% | +17.3% | +15.2% | +74.7% | +91.9% | +38.0% | +16.1% | +74.3% | +35.9% | +54.6% | +18.9% | -43.0% | -63.8% | -72.8% | -61.6% | -52.7% | |
| P/B Ratio | 1.03 | 0.16 | 0.19 | 0.33 | 0.43 | 0.35 | 0.30 | 0.25 | 0.29 | 0.35 | 0.29 | 0.25 | 0.18 | 0.21 | 0.25 | 0.27 | 0.13 | 1.13 | 0.16 | 0.22 | 0.24 |
| — | -54.2% | -36.6% | +29.4% | +47.1% | -0.2% | +3.0% | +2.3% | +57.8% | +64.1% | +14.3% | -7.4% | +36.1% | -81.1% | +54.1% | +20.6% | -43.6% | +126.6% | -75.3% | -63.8% | -52.4% | |
| P/FCF | 8.61 | 1.13 | 1.55 | — | 2.47 | 4.62 | 2.21 | 2.04 | 2.18 | 1.87 | 1.63 | 1.96 | 1.76 | 1.41 | 1.77 | 1.36 | 1.30 | 1.64 | 0.81 | 4.27 | 1.90 |
| — | -75.4% | -30.0% | — | +13.3% | +146.5% | +36.0% | +4.5% | +24.2% | +32.4% | -8.1% | +43.3% | +35.1% | -13.9% | +119.5% | -68.1% | -31.5% | — | -84.5% | -7.3% | — | |
| EV / EBITDA | 7.22 | 0.46 | 0.09 | 1.53 | 2.51 | 2.00 | 0.81 | 1.02 | 1.57 | 1.66 | 1.55 | 0.88 | 0.66 | 0.69 | 1.07 | 1.49 | 0.69 | 1.81 | 1.34 | 2.91 | 2.90 |
| — | -77.1% | -88.6% | +50.2% | +59.8% | +20.3% | -47.4% | +16.1% | +138.3% | +140.4% | +45.0% | -41.0% | -5.0% | -61.7% | -20.2% | -48.8% | -76.1% | -65.2% | -76.5% | -36.9% | -23.7% | |
| EV / EBIT | 8.24 | 0.55 | 0.09 | 1.07 | 2.94 | 2.11 | 1.88 | 1.23 | 1.98 | 2.09 | 1.97 | 3.04 | 0.66 | 0.95 | 1.49 | 2.43 | 0.93 | 1.81 | 2.09 | 5.87 | 3.96 |
| — | -73.9% | -95.5% | -13.0% | +48.7% | +1.0% | -4.5% | -59.6% | +200.1% | +118.8% | +32.0% | +25.0% | -29.4% | -47.2% | -28.6% | -58.6% | -76.4% | -73.3% | -71.9% | -4.0% | -14.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.2% | 44.2% | 44.9% | 97.7% | 43.5% | 44.4% | 44.1% | 43.6% | 42.6% | 42.0% | 40.9% | 38.3% | 35.7% | 34.3% | 33.1% | 33.0% | 32.6% | 29.9% | 28.0% | 28.8% | 29.6% |
| — | -0.5% | +1.9% | +124.1% | +2.0% | +5.6% | +7.6% | +13.8% | +19.6% | +22.7% | +23.9% | +16.3% | +9.3% | +14.7% | +18.1% | +14.4% | +10.3% | -1.8% | -11.2% | -10.9% | -8.8% | |
| Operating Margin | 29.6% | 34.0% | 29.6% | 33.8% | 32.0% | 35.3% | 65.7% | 32.3% | 30.6% | 30.7% | 28.9% | 24.9% | 21.7% | 21.1% | 19.7% | 18.7% | 17.1% | 15.1% | 11.3% | 9.0% | 11.8% |
| — | -3.7% | -55.0% | +4.7% | +4.8% | +14.9% | +127.1% | +29.9% | +40.9% | +45.3% | +46.8% | +33.0% | +26.7% | +39.6% | +74.9% | +108.5% | +45.4% | +17.1% | -24.2% | -42.3% | -29.2% | |
| Net Margin | 33.6% | 27.7% | 26.5% | 24.6% | 25.4% | 28.5% | 58.3% | 26.2% | 22.6% | 23.5% | 21.0% | 18.9% | 17.8% | 17.8% | 16.4% | 15.5% | 14.4% | 12.4% | 9.2% | 7.0% | 9.5% |
| — | -3.1% | -54.6% | -6.4% | +12.7% | +21.5% | +177.6% | +38.5% | +26.9% | +31.9% | +28.2% | +22.2% | +23.4% | +43.7% | +78.8% | +120.0% | +51.9% | +20.0% | -22.6% | -50.9% | -36.6% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.5% | 3.1% | 2.6% | 2.3% | 2.5% | 3.0% | 5.9% | 2.9% | 2.5% | 2.7% | 2.4% | 2.3% | 2.1% | 2.4% | 2.3% | 2.4% | 3.8% | 3.0% | 1.2% | 1.1% | 1.4% |
| — | +4.9% | -56.1% | -22.2% | +1.4% | +9.6% | +145.6% | +24.8% | +16.2% | +11.9% | +6.3% | -1.6% | -44.4% | -19.9% | +86.8% | +124.1% | +166.0% | +92.8% | -30.8% | -55.0% | -64.2% | |
| ROA | 11.5% | 2.3% | 2.1% | 1.8% | 2.0% | 2.3% | 4.6% | 2.2% | 1.9% | 2.1% | 1.8% | 1.8% | 1.6% | 1.8% | 1.7% | 1.7% | 2.8% | 2.3% | 0.9% | 0.8% | 1.1% |
| — | -2.4% | -54.8% | -18.0% | +6.8% | +12.4% | +147.6% | +27.1% | +18.0% | +13.5% | +9.0% | +2.2% | -42.0% | -18.7% | +84.5% | +114.5% | +151.5% | +85.7% | -32.7% | -55.7% | -64.8% | |
| ROIC | 10.4% | 3.3% | 2.5% | 2.5% | 2.5% | 3.0% | 5.5% | 2.9% | 2.7% | 2.9% | 2.8% | 2.6% | 2.2% | 2.5% | 2.3% | 2.3% | 3.6% | 3.0% | 1.2% | 1.0% | 1.4% |
| — | +11.6% | -55.3% | -14.2% | -6.8% | +1.8% | +98.9% | +12.2% | +23.9% | +18.2% | +22.0% | +14.4% | -38.9% | -17.0% | +93.8% | +124.6% | +167.1% | +89.4% | -36.3% | -51.7% | -63.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.21 | 0.06 | 0.05 | 0.05 | 0.07 | 0.08 | 0.09 | 0.09 | 0.10 | 0.10 | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.13 | 0.12 | 0.11 | 0.10 | 0.11 |
| — | +197.7% | -22.3% | -47.1% | -50.2% | -27.0% | -18.2% | -17.9% | -18.5% | -14.3% | -12.3% | -12.9% | -11.7% | -6.8% | +4.1% | +15.7% | +17.1% | +15.5% | +3.3% | +0.7% | -3.8% | |
| Debt / EBITDA | 0.34 | 5.01 | 2.00 | 1.03 | 1.34 | 1.91 | 1.21 | 2.34 | 2.55 | 2.54 | 2.81 | 3.19 | 4.17 | 3.48 | 3.66 | 3.71 | 4.21 | 0.83 | 5.69 | 6.17 | 5.07 |
| — | +162.0% | +65.3% | -55.7% | -47.5% | -24.5% | -56.8% | -26.8% | -38.9% | -27.2% | -23.4% | -14.0% | -0.9% | +318.0% | -35.6% | -39.8% | -17.1% | -81.8% | +36.0% | +63.0% | +24.8% | |
| Current Ratio | 2.22 | 1.74 | 2.09 | 2.22 | 2.08 | 1.87 | 1.83 | 2.09 | 2.26 | 2.34 | 2.67 | 2.49 | 2.46 | 2.50 | 2.35 | 2.27 | 2.15 | 2.33 | 2.28 | 2.56 | 2.62 |
| — | -6.8% | +13.7% | +6.6% | -7.8% | -19.9% | -31.3% | -16.2% | -8.1% | -6.5% | +13.4% | +9.9% | +14.5% | +7.3% | +3.1% | -11.6% | -18.1% | -19.0% | -25.3% | -22.3% | -24.8% | |
| Quick Ratio | 2.22 | 1.74 | 2.08 | 2.22 | 2.08 | 1.87 | 1.83 | 2.09 | 2.26 | 2.34 | 2.67 | 2.49 | 2.46 | 2.50 | 2.35 | 2.27 | 2.15 | 2.33 | 2.28 | 2.56 | 2.62 |
| — | -6.9% | +13.6% | +6.5% | -7.9% | -19.9% | -31.3% | -16.3% | -8.1% | -6.6% | +13.5% | +10.0% | +14.6% | +7.4% | +3.1% | -11.6% | -18.0% | -19.0% | -25.4% | -22.3% | -24.8% | |
| Interest Coverage | 109.83 | — | 57.39 | 62.96 | 551.34 | 249.50 | 86.76 | 74.14 | 19.02 | 72.85 | 56.03 | 42.08 | 42.11 | 30.33 | 33.65 | 25.84 | 44.79 | 45.17 | 19.97 | 14.33 | 26.27 |
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Includes 30+ ratios · 40 years · Updated daily
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Quick answers to the most common questions about buying TME stock.
Tencent Music Entertainment Group's current P/E is 8.0x. The average P/E over the last 4 quarters is 2.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Tencent Music Entertainment Group's current operating margin is 29.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Tencent Music Entertainment Group's business trajectory between earnings reports.