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Tencent Holdings Limited 0700.HK

HK · Hong Kong Stock Exchange · XHKG · stock · Communication Services · website

Tencent Holdings Limited statistics & valuation

Market capCN¥3.98T
P / E17.7×
P / S5.3×
P / B3.4×
P / FCF20.9×
Dividend yield0.94%
Net margin29.9%
Return on equity19.5%
FCF margin25.3%
Net debtCN¥193.5B
Enterprise value USD$535.4B
Earnings yield EBIT/EV6%
Return on capital15.3%
Graham number -40.2%CN¥263.81

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (CN¥263.81); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
33.90% 18.90% 29.40% 29.90% 2022202320242025
Gross margin (%)
43.10% 48.10% 52.90% 56.20% 2022202320242025
Operating margin (%)
20.50% 27.20% 31.60% 33.10% 2022202320242025
Return on equity (%)
26.10% 14.20% 19.90% 19.50% 2022202320242025
Shares outstanding
9.01B 9.01B 9.01B 9.01B 2022202320242025
Net debt (CN¥)
CN¥155.60B CN¥120.60B CN¥144.59B CN¥193.53B 2022202320242025
Share buybacks (CN¥)
CN¥29.31B CN¥43.77B CN¥102.33B CN¥73.31B 2022202320242025
Return on assets (%)
11.90% 7.30% 10.90% 11.00% 2022202320242025
Free cash flow margin (%)
17.20% 28.70% 24.60% 25.30% 2022202320242025
Debt / equity (×)
0.43× 0.36× 0.28× 0.29× 2022202320242025
EPS (CN¥)
CN¥19.34 CN¥11.89 CN¥20.49 CN¥24.15 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Tencent Holdings Limited trades at about 18.3× earnings — below its 10-year norm (10-year range 19.6×–25.1×, median 22.8×).

18.3× 25.1×

Shaded band = 10-year range (19.6×–25.1×); dot = today's 18.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin56.2%52.9%48.1%43.1%
Operating margin33.1%31.6%27.2%20.5%
Net margin29.9%29.4%18.9%33.9%
FCF margin25.3%24.6%28.7%17.2%
Return on assets11.0%10.9%7.3%11.9%
Return on equity19.5%19.9%14.2%26.1%
Debt / equity0.29×0.28×0.36×0.43×
Current ratio1.441.251.471.30

Computed from company filings · HK · as of 2025-12-31. Figures in CNY. Facts plus Stocktoria's own computed scores — not investment advice.