Tencent Music Entertainment Group (TME) Financial Statements & Analysis

Tencent Music Entertainment Group (TME) Income Statement

Tencent Music Entertainment Group reported revenue of CNY 32.90B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 15.8% from CNY 28.40B a year earlier. Net income was CNY 11.06B, up 66.4% year over year, a net margin of 33.6%. Gross margin was 44.2% and operating margin 29.6%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 8.93B, up 5.8% from the same quarter a year earlier.

Tencent Music Entertainment Group Income Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Tencent Music Entertainment Group income statement - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	32.90	28.40	27.75	28.34	31.24	29.15	25.43	18.99	10.98
Cost of Revenue	18.37	16.38	17.96	19.57	21.84	19.85	16.76	11.71	7.17
Gross Profit	14.54	12.03	9.80	8.77	9.40	9.30	8.67	7.28	3.81
Operating Expenses
Research & Development	2.32	2.28	2.53	2.58	0.00	1.67	1.16	0.94	0.80
Selling, General & Administrative	2.54	4.68	5.02	5.56	6.69	5.58	4.74	3.97	2.43
Operating Expenses	4.80	3.32	3.74	4.33	5.60	4.59	4.05	3.97	2.40
Operating Income	9.74	8.71	6.06	4.44	3.80	4.71	4.62	2.04	1.59
Other Income/Expense
Interest Income	1.05	1.29	1.05	0.75	0.48	0.62	0.62	0.28	0.09
Interest Expense	0.12	-0.12	0.12	-0.12	-0.12	0.10	0.06	0.04	0.00
Other Income/Expense	2.61	0.00	-0.01	-0.07	-0.17	-0.08	-0.08	-0.04	0.19
Income
Income Before Tax	13.28	8.71	6.05	4.37	3.63	4.63	4.54	2.00	1.60
Income Tax Expense	1.92	1.60	0.83	0.53	0.42	0.46	0.56	0.17	0.28
Net Income	11.06	6.64	4.92	3.68	3.03	4.16	3.98	1.83	1.33
Net Income - Continuous Operations	11.35	7.11	4.92	3.84	3.03	4.16	3.98	1.83	1.33
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	14.77	8.29	5.72	4.71	4.14	5.56	4.61	2.41	1.98
EBIT	13.40	7.57	6.17	3.55	3.14	4.04	-	-	-
Depreciation & Amortization	1.38	0.72	0.72	1.16	1.00	0.82	0.52	0.37	0.38
Earnings Per Share
Basic EPS	7.00	4.00	3.00	2.00	2.00	3.00	2.00	1.00	1.00
Diluted EPS	7.00	4.00	3.00	2.00	2.00	2.00	2.00	1.00	1.00
Basic Shares Outstanding	1.53	1.54	1.58	1.60	1.66	1.66	1.64	1.54	1.62
Diluted Shares Outstanding	1.55	1.57	1.58	1.62	1.68	1.68	1.67	1.58	1.64

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Tencent Music Entertainment Group Financial Statements

What was Tencent Music Entertainment Group's revenue in fiscal 2025?

Tencent Music Entertainment Group reported revenue of CNY 32.90B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 15.8% from CNY 28.40B a year earlier.

Is Tencent Music Entertainment Group profitable?

Yes. Tencent Music Entertainment Group earned net income of CNY 11.06B in fiscal 2025, a net margin of 33.6%. In fiscal 2024 it earned CNY 6.64B.

What is Tencent Music Entertainment Group's operating margin?

Tencent Music Entertainment Group's operating income was CNY 9.74B on revenue of CNY 32.90B in fiscal 2025, an operating margin of 29.6%, compared with 30.7% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition