Valuation Tencent Holdings Limited

Equities

700 KYG875721634

Internet Services

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Company Valuation: Tencent Holdings Limited

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	4,522,629	3,550,244	2,779,772	2,492,563	3,578,772	4,167,255	4,167,255	-
Change	-	-21.5%	-21.7%	-10.33%	43.58%	16.44%	0%	-
Enterprise Value (EV) ¹	4,533,692	3,530,001	2,764,940	2,547,303	3,501,974	4,034,893	3,908,949	3,783,231
Change	-	-22.14%	-21.67%	-7.87%	37.48%	15.22%	-3.12%	-3.22%
P/E ratio	28.7x	16.1x	15.3x	22.4x	19.1x	19.1x	16.7x	14.7x
PBR	6.4x	4.4x	3.9x	3.12x	3.79x	3.53x	3x	2.46x
PEG	-	0.4x	-0.9x	-0.6x	0.3x	1.1x	1.2x	1x
Capitalization / Revenue	9.38x	6.34x	5.01x	4.09x	5.42x	5.55x	5.05x	4.6x
EV / Revenue	9.4x	6.3x	4.99x	4.18x	5.3x	5.37x	4.73x	4.18x
EV / EBITDA	26.6x	20.4x	16.9x	10.8x	12.6x	12.3x	10.5x	8.96x
EV / EBIT	24.6x	13x	11.7x	15.9x	16.8x	16.1x	13.6x	11.7x
EV / FCF	28.3x	24.9x	21.6x	12.9x	19.3x	18.2x	15x	11.9x
FCF Yield	3.53%	4.02%	4.63%	7.78%	5.19%	5.48%	6.67%	8.39%
Dividend per Share ²	1.344	1.298	2.4	3.129	3.164	4.82	5.312	6.189
Rate of return	0.28%	0.35%	0.81%	1.17%	0.81%	1.05%	1.16%	1.35%
EPS ²	16.52	23.16	19.34	11.89	20.49	23.95	27.33	31.19
Distribution rate	8.13%	5.6%	12.4%	26.3%	15.4%	20.1%	19.4%	19.8%
Net sales ¹	482,064	560,118	554,552	609,015	660,257	751,523	825,554	905,784
EBITDA ¹	170,680	173,173	164,037	235,454	277,012	328,113	374,019	422,292
EBIT ¹	184,237	271,620	235,706	160,074	208,099	250,709	287,313	322,479
Net income ¹	159,847	224,822	188,243	115,216	194,073	220,456	248,601	279,697
Net Debt ¹	11,063	-20,243	-14,832	54,740	-76,798	-132,362	-258,306	-384,025
Reference price ²	474.91	372.14	295.44	266.50	391.85	457.62	457.62	457.62
Nbr of stocks (in thousands)	9,523,125	9,540,009	9,408,797	9,352,822	9,132,925	9,106,356	9,106,356	-
Announcement Date	3/24/21	3/23/22	3/22/23	3/20/24	3/19/25	-	-	-

¹CNY in Million²CNY

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
TENCENT HOLDINGS LIMITED	19.11x	5.37x	12.3x	1.05%	604B
NETFLIX, INC.	31.52x	8.18x	24.6x	-.--%	418B
UBER TECHNOLOGIES, INC.	22.33x	2.61x	13.82x	-.--%	155B
SPOTIFY TECHNOLOGY S.A.	37.63x	4.71x	29.4x	-.--%	116B
PROSUS N.V.	10.83x	13.42x	130.18x	0.37%	114B
AIRBNB, INC.	26.93x	4.96x	14.13x	-.--%	79.87B
DOORDASH, INC.	71x	4x	19.75x	-.--%	77.84B
SK SQUARE CO., LTD.	9.5x	37.62x	8.02x	-.--%	49.18B
NASPERS LIMITED	8.81x	4.19x	44.1x	0.5%	40.42B
KUAISHOU TECHNOLOGY	13.01x	1.44x	6.91x	0.52%	34.19B
Average	25.07x	8.65x	30.32x	0.24%	168.88B
Weighted average by Cap.	25.31x	7.06x	25.57x	0.42%