Tencent Music Entertainment Group (63TA) - Net Assets
Based on the latest financial reports, Tencent Music Entertainment Group (63TA) has net assets worth €77.13 Billion EUR (≈ $90.17 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€99.85 Billion ≈ $116.74 Billion USD) and total liabilities (€22.72 Billion ≈ $26.56 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore 63TA net asset momentum to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €77.13 Billion |
| % of Total Assets | 77.25% |
| Annual Growth Rate | 11.91% |
| 5-Year Change | 62.67% |
| 10-Year Change | N/A |
| Growth Volatility | 10.25 |
Tencent Music Entertainment Group - Net Assets Trend (2018–2025)
This chart illustrates how Tencent Music Entertainment Group's net assets have evolved over time, based on quarterly financial data. Check 63TA strategic assets to equity ratio to assess the company's strategic physical and investment asset allocation.
Annual Net Assets for Tencent Music Entertainment Group (2018–2025)
The table below shows the annual net assets of Tencent Music Entertainment Group from 2018 to 2025. For live market cap and overall valuation, see market value of Tencent Music Entertainment Group.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €83.05 Billion ≈ $97.09 Billion |
+19.11% |
| 2024-12-31 | €69.73 Billion ≈ $81.52 Billion |
+21.89% |
| 2023-12-31 | €57.20 Billion ≈ $66.88 Billion |
+16.44% |
| 2022-12-31 | €49.13 Billion ≈ $57.43 Billion |
-3.78% |
| 2021-12-31 | €51.05 Billion ≈ $59.69 Billion |
-3.18% |
| 2020-12-31 | €52.73 Billion ≈ $61.65 Billion |
+20.73% |
| 2019-12-31 | €43.68 Billion ≈ $51.06 Billion |
+15.64% |
| 2018-12-31 | €37.77 Billion ≈ $44.16 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Tencent Music Entertainment Group's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 866.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €29.38 Billion | 36.59% |
| Other Components | €50.91 Billion | 63.41% |
| Total Equity | €80.29 Billion | 100.00% |
Tencent Music Entertainment Group Competitors by Market Cap
The table below lists competitors of Tencent Music Entertainment Group ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Schaeffler AG
XETRA:SHA0
|
$7.04 Billion |
|
Stora Enso Oyj R
HE:STERV
|
$7.04 Billion |
|
HUAYU Automotive Systems Co Ltd
SHG:600741
|
$7.04 Billion |
|
Yang Ming Marine Transport Corp
TW:2609
|
$7.04 Billion |
|
Houlihan Lokey Inc
NYSE:HLI
|
$7.04 Billion |
|
Argan Inc
NYSE:AGX
|
$7.03 Billion |
|
Bank of India
NSE:BANKINDIA
|
$7.03 Billion |
|
China Aerospace Times Electronics Co Ltd
SHG:600879
|
$7.03 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tencent Music Entertainment Group's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 67,863,000,000 to 80,287,000,000, a change of 12,424,000,000 (18.3%).
- Net income of 11,056,000,000 contributed positively to equity growth.
- Dividend payments of 1,981,000,000 reduced retained earnings.
- Share repurchases of 390,000,000 reduced equity.
- Other factors increased equity by 3,739,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €11.06 Billion | +13.77% |
| Dividends Paid | €1.98 Billion | -2.47% |
| Share Repurchases | €390.00 Million | -0.49% |
| Other Changes | €3.74 Billion | +4.66% |
| Total Change | €- | 18.31% |
Book Value vs Market Value Analysis
This analysis compares Tencent Music Entertainment Group's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.29x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 0.65x to 0.29x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | €11.55 | €7.48 | x |
| 2019-12-31 | €12.99 | €7.48 | x |
| 2020-12-31 | €15.43 | €7.48 | x |
| 2021-12-31 | €14.84 | €7.48 | x |
| 2022-12-31 | €14.01 | €7.48 | x |
| 2023-12-31 | €16.54 | €7.48 | x |
| 2024-12-31 | €22.02 | €7.48 | x |
| 2025-12-31 | €26.05 | €7.48 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tencent Music Entertainment Group utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.77%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 33.60%
- • Asset Turnover: 0.32x
- • Equity Multiplier: 1.28x
- Recent ROE (13.77%) is above the historical average (8.50%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2018 | 4.86% | 9.65% | 0.43x | 1.18x | €-1.94 Billion |
| 2019 | 9.14% | 15.66% | 0.48x | 1.21x | €-377.00 Million |
| 2020 | 7.95% | 14.25% | 0.43x | 1.31x | €-1.07 Billion |
| 2021 | 6.02% | 9.69% | 0.46x | 1.34x | €-2.00 Billion |
| 2022 | 7.64% | 12.98% | 0.42x | 1.39x | €-1.13 Billion |
| 2023 | 8.80% | 17.73% | 0.37x | 1.35x | €-670.70 Million |
| 2024 | 9.79% | 23.39% | 0.31x | 1.33x | €-142.30 Million |
| 2025 | 13.77% | 33.60% | 0.32x | 1.28x | €3.03 Billion |
Industry Comparison
This section compares Tencent Music Entertainment Group's net assets metrics with peer companies in the Internet Content & Information industry.
Industry Context
- Industry: Internet Content & Information
- Average net assets among peers: $140,223,100,000
- Average return on equity (ROE) among peers: 8.69%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tencent Music Entertainment Group (63TA) | €77.13 Billion | 4.86% | 0.29x | $7.04 Billion |
| TIAN GE INT.HLDGS DL-0001 (04T) | $2.23 Billion | 0.89% | 0.17x | $84.30 Million |
| CHEET.M.ADR 50 NEW (0C9) | $2.21 Billion | -27.98% | 1.49x | $54.27 Million |
| Fiverr International Ltd (11V) | $362.65 Million | 5.03% | 1.95x | $307.56 Million |
| HELL.UNSP.ADR A1 DL-0001 (1MO) | $11.99 Billion | 16.33% | 0.35x | $718.04 Million |
| PHOENIX NEW MED.ADR 1/48 (1PX) | $1.39 Billion | -14.81% | 0.73x | $9.09 Million |
| RECRUIT HLD.UNSP.ADR/02 (1RHA) | $1.38 Trillion | 21.57% | 0.76x | $41.23 Billion |
| AUTO TRADER ADR 1/4 LS-01 (2UA0) | $527.30 Million | 44.36% | 0.26x | $4.85 Billion |
| Opera Limited (2V8) | $940.10 Million | 8.59% | 0.12x | $1.52 Billion |
| WEIBO CORP. A (2WB) | $4.01 Billion | 11.20% | 0.77x | $1.13 Billion |
| Weibo Corporation (2WBA) | $2.28 Billion | 21.68% | 1.11x | $1.11 Billion |
About Tencent Music Entertainment Group
Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the People's Republic of China. It provides QQ Music, Kugou Music, and Kuwo Music that enable users to discover, enjoy, and share music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as … Read more