Tencent Music Entertainment Group (TME) Balance Sheet: Assets & Liabilities

Tencent Music Entertainment Group (TME) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Tencent Music Entertainment Group reported total assets of CNY 102.59B and total liabilities of CNY 19.48B. Shareholders' equity was CNY 80.34B, up 15.2% from CNY 69.73B a year earlier. Total debt stood at CNY 3.82B against CNY 24.35B in cash and short-term investments, a net cash position of CNY 20.53B. That puts debt-to-equity at 0.05, compared with 0.08 a year earlier.

Tencent Music Entertainment Group Balance Sheet Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Tencent Music Entertainment Group (TME) - 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
Current Assets
Cash and Cash Equivalents	8.49	13.16	13.57	9.56	6.59	11.13	2.21	17.36	5.17
Short-Term Investments	15.86	14.05	9.97	11.33	12.81	14.90	1.01	0.08	0.00
Cash & Short-Term Investments	24.35	27.21	23.54	20.88	20.43	26.02	3.23	17.44	5.17
Accounts Receivable	3.91	3.51	2.92	2.92	3.61	2.99	0.34	1.48	1.30
Inventory	0.04	0.02	0.01	0.01	0.02	0.02	0.00	0.04	0.03
Other Current Assets	4.19	3.80	3.47	2.74	2.73	2.66	0.31	1.71	0.96
Total Current Assets	32.48	34.54	29.94	26.56	26.79	31.69	3.89	20.78	7.47
Non-Current Assets
Property, Plant & Equipment (Net)	1.49	3.46	0.86	0.72	2.02	0.49	0.05	0.17	0.13
Long-Term Investments	42.03	29.90	19.84	14.33	15.40	15.33	0.81	3.78	4.12
Goodwill	20.53	19.65	19.54	19.49	19.12	17.49	2.46	17.09	16.26
Intangible Assets	2.90	4.41	4.47	4.85	4.32	2.02	0.23	1.76	1.72
Other Non-Current Assets	2.66	0.85	0.54	0.71	1.09	0.96	0.12	0.90	0.20
Total Non-Current Assets	70.11	55.90	45.60	40.45	40.46	36.59	3.68	23.83	22.53
Total Assets	102.59	90.44	75.54	67.01	67.25	68.27	7.56	44.61	30.00
Current Liabilities
Accounts Payable	6.29	6.88	5.01	5.00	4.33	3.57	0.37	1.83	1.05
Short-Term Debt	0.12	2.26	0.12	0.12	0.09	0.10	0.01	0.00	0.00
Current Portion of Long-Term Debt	-	2.15	-	-	-	-	-	-	-
Accrued Liabilities	1.09	0.93	2.18	0.40	0.36	2.85	-	-	-
Deferred Revenue	3.54	3.10	3.05	2.31	1.83	1.71	0.26	1.54	1.05
Other Current Liabilities	4.65	3.38	3.07	3.69	3.83	3.78	0.53	2.53	2.25
Total Current Liabilities	14.60	16.55	12.01	11.72	10.45	9.60	1.23	6.24	3.53
Non-Current Liabilities
Long-Term Debt	3.70	3.57	5.93	5.84	5.06	5.39	0.01	0.00	0.00
Deferred Tax Liabilities	0.50	0.20	0.24	0.21	0.27	0.27	0.03	0.35	0.30
Other Non-Current Liabilities	0.38	0.38	0.00	0.00	0.48	0.20	0.00	0.20	0.00
Total Non-Current Liabilities	4.89	4.17	6.32	6.17	5.75	5.94	0.06	0.60	0.33
Total Liabilities	19.48	20.72	18.33	17.88	16.20	15.54	1.29	6.83	3.85
Stockholders' Equity
Common Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	29.40	20.05	16.97	12.05	14.19	11.11	0.88	3.04	1.23
Accumulated Other Comprehensive Income	0.00	19.85	9.66	6.14	3.73	6.30	0.44	0.90	1.00
Treasury Stock	0.66	0.55	7.00	6.35	3.66	-	-	-	-
Additional Paid-in Capital	50.94	27.97	29.28	29.91	36.24	34.83	4.94	33.78	23.92
Minority Interest	2.76	1.86	1.30	1.03	0.74	0.49	0.01	0.05	0.01
Shares Outstanding	3.10	3.08	3.38	3.43	3.39	-	-	-	-
Total Stockholders' Equity	80.34	69.73	55.91	48.10	51.06	52.25	6.26	37.72	26.14
Total Liabilities & Equity	102.59	90.44	75.54	67.01	67.25	68.27	7.56	44.61	30.00

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 Balance Sheet

How much debt does Tencent Music Entertainment Group have?

Tencent Music Entertainment Group had total debt of CNY 3.82B as of Dec 31, 2025, against CNY 24.35B in cash and short-term investments. Its debt-to-equity ratio was 0.05. Total debt was CNY 5.83B a year earlier.

What are Tencent Music Entertainment Group's total assets?

Tencent Music Entertainment Group reported total assets of CNY 102.59B as of Dec 31, 2025, up 13.4% from CNY 90.44B a year earlier. Total liabilities were CNY 19.48B.

What is Tencent Music Entertainment Group's shareholders' equity?

Tencent Music Entertainment Group's shareholders' equity was CNY 80.34B as of Dec 31, 2025, or about CNY 25.92 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition