|
Market Closed -
Hong Kong S.E.
12:08:17 08/10/2026 +04
|
5-day change | 1st Jan Change | ||
| 411.40 HKD | -2.19% |
|
-4.55% | -31.32% |
Company Valuation: Tencent Holdings Limited
Data adjusted to current consolidation scope
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Market Cap 1 | 3,550,244 | 2,779,772 | 2,492,563 | 3,578,772 | 4,862,159 | 3,163,176 | - | - |
| Change | - | -21.7% | -10.33% | 43.58% | 35.86% | -34.94% | - | - |
| Enterprise Value (EV) 1 | 3,530,001 | 2,764,940 | 2,547,303 | 3,501,974 | 4,755,014 | 3,125,718 | 3,148,781 | 3,124,878 |
| Change | - | -21.67% | -7.87% | 37.48% | 35.78% | -34.26% | 0.74% | -0.76% |
| P/E | 16.1x | 15.3x | 22.4x | 19.1x | 22.3x | 14.2x | 13.3x | 12x |
| PBR | 4.4x | 3.9x | 3.12x | 3.79x | 4.31x | 2.35x | 2.01x | 1.79x |
| PEG | - | -0.9x | -0.6x | 0.3x | 1.2x | 5.7x | 1.91x | 1.1x |
| Capitalization / Revenue | 6.34x | 5.01x | 4.09x | 5.42x | 6.47x | 3.83x | 3.5x | 3.19x |
| EV / Revenue | 6.3x | 4.99x | 4.18x | 5.3x | 6.33x | 3.79x | 3.48x | 3.15x |
| EV / EBITDA | 20.4x | 16.9x | 10.8x | 12.6x | 14.1x | 8.76x | 8.02x | 7.02x |
| EV / EBIT | 13x | 11.7x | 15.9x | 16.8x | 19.7x | 11.8x | 11.4x | 10.4x |
| EV / FCF | 24.9x | 21.6x | 12.9x | 19.3x | 21.2x | 25.1x | 18.4x | 14.7x |
| FCF Yield | 4.02% | 4.63% | 7.78% | 5.19% | 4.71% | 3.98% | 5.42% | 6.8% |
| Dividend per Share 2 | 1.298 | 2.4 | 3.129 | 3.164 | 4.649 | 5.044 | 5.272 | 5.841 |
| Rate of return | 0.35% | 0.81% | 1.17% | 0.81% | 0.86% | 1.43% | 1.5% | 1.66% |
| EPS 2 | 23.16 | 19.34 | 11.89 | 20.49 | 24.15 | 24.75 | 26.48 | 29.28 |
| Distribution rate | 5.6% | 12.4% | 26.3% | 15.4% | 19.2% | 20.4% | 19.9% | 20% |
| Net sales 1 | 560,118 | 554,552 | 609,015 | 660,257 | 751,766 | 825,718 | 904,274 | 992,800 |
| EBITDA 1 | 173,173 | 164,037 | 235,454 | 277,012 | 336,427 | 356,751 | 392,702 | 444,908 |
| EBIT 1 | 271,620 | 235,706 | 160,074 | 208,099 | 241,562 | 263,800 | 275,315 | 299,616 |
| Net income 1 | 224,822 | 188,243 | 115,216 | 194,073 | 224,842 | 226,018 | 240,631 | 262,917 |
| Net Debt 1 | -20,243 | -14,832 | 54,740 | -76,798 | -107,145 | -37,458 | -14,395 | -38,297 |
| Reference price 2 | 372.14 | 295.44 | 266.50 | 391.85 | 538.28 | 351.52 | 351.52 | 351.52 |
| Nbr of stocks (in thousands) | 9,540,009 | 9,408,797 | 9,352,822 | 9,132,925 | 9,032,821 | 8,998,443 | - | - |
| Announcement Date | 23/03/22 | 22/03/23 | 20/03/24 | 19/03/25 | 18/03/26 | - | - | - |
1CNY in Million2CNY
Estimates
P/E, Detailed evolution
| P/E (N) | EV / Sales (N) | EV / EBITDA (N) | Dividend Yield (N) | Capi.($) | ||
|---|---|---|---|---|---|---|
 | 14.51x | 3.87x | 8.96x | 1.4% | 482B | |
| 16.99x | 8.3x | 17.73x | 0.25% | 4,269B | |
| 23.19x | 7.32x | 12.86x | 0.29% | 1,838B | |
| 29.16x | 13.67x | 21.6x | 0.62% | 499B | |
| 19.45x | 5.76x | 17.31x | -.--% | 290B | |
| 20.66x | 1.51x | 10.38x | 1.02% | 266B | |
| 103.33x | 13.62x | 73.14x | -.--% | 214B | |
| 21.52x | 2.46x | 12.5x | -.--% | 140B | |
| 3.03x | 84.38x | 2.3x | 0.13% | 112B | |
| 8.04x | 0.89x | 3.85x | -.--% | 112B | |
| Average | 25.99x | 14.18x | 18.06x | 0.37% | 822.22B | |
| Weighted average by Cap. | 21.18x | 8.81x | 17.06x | 0.35% |
Y-o-Y evolution of P/E
Historical PBR trend
Evolution Enterprise Value / Sales
Change in Enterprise Value/EBITDA
Year-on-year evolution of the Yield
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- Valuation Tencent Holdings Limited
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