Tencent Music Entertainment Group

TMENYSECommunication Services● Active

$9.11

+$0.03(+0.28%)

Market Cap$14.0B

P/E Ratio—

52W High$26.7

52W Low$8.435

Avg Volume11.6M

Open$9.22

Beta0.77

Free Cash Flow Financials Revenue

Tencent Music Entertainment Group (TME) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

TME · free cash flow · updated Jun 8, 2026

Core FCF metrics

TME · FCF · TTM · margin & CAGR

Free cash flow was $9.86B for FY2025 (fiscal year ending 2025-12-31), up 6.7% year-over-year The FCF margin was 30.0%. Five-year CAGR stands at +17.6%.

FY2025 Free Cash Flow$9.86B▲ +6.7% YoY

Trailing 12M (TTM)$7.84Btrailing 4 quarters sum

FCF Margin30.0%$9.86B ÷ revenue

3-Year CAGR+15.3%FY2022 → FY2025

5-Year CAGR+17.6%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

TME · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$10.16B(297M)$9.86B▲ +6.7%30.0%

FY2024$10.28B(1.03B)$9.24B▲ +49.7%32.5%

FY2023$7.34B(1.16B)$6.17B▼ 4.0%22.2%

FY2022$7.48B(1.05B)$6.43B▲ +159.1%22.7%

FY2021$5.24B(2.76B)$2.48B▼ 43.4%7.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

TME · P/FCF · FCF yield · FCF per share

Tencent Music Entertainment Group (TME) trades at a FCF yield of 8.30% and a price-to-free-cash-flow ratio of 1.8x. FCF per share stands at $5.11, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

8.30%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$5.11

TTM FCF ÷ Shares Outstanding

Price / FCF

x1.8

Share Price ÷ FCF per Share

EV / FCF (TTM)

x10.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

TME · cash flow statement · operating / investing / financing

For FY2025, Tencent Music Entertainment Group generated $10.16B in operating cash flow and spent 297M in capital expenditures, yielding $9.86B in free cash flow.

Operating Activities

+$10.16B

Cash from core business operations

2025-12-31

Investing Activities

−$10.27B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$4.41B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($10.16B) − |CapEx| (297M) = FCF ($9.86B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Communication Services)

TME vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Tencent Music Entertainment GroupYOU

TME

$9.86B+6.7%30.0%

13%

About Free Cash Flow & Methodology

Tencent Music Entertainment Group (TME) reported free cash flow of $9.86B for FY2025 (fiscal year ending 2025-12-31), up 6.7% year-over-year. The FCF margin was 30.0%.

Based on available data, Tencent Music Entertainment Group has maintained positive free cash flow for at least 10 fiscal year(s). FCF peaked at $9.86B in FY2025. The 5-year CAGR stands at +17.6%.

Tencent Music Entertainment Group's FCF yield is 8.30% and price-to-FCF ratio is 1.8x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

TME free cash flow · 8 questions

Tencent Music Entertainment Group free cash flow was $9.86B for FY2025, up 6.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $7.84B.

TME free cash flowTME FCFTME FCF 2025TME free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Tencent Music Entertainment Group · Tencent Music Entertainment Group SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026