PerpEquities

Equity · Communication services

Is Tencent Holdings Limited (TCEHY) tradable as a perp? Not right now

Tencent Holdings Limited is an investment holding company offering value-added services, online advertising, FinTech, and business services, including games, social platforms, cloud computing, and film/TV production.

Currently not listed on any perp exchange

TCEHY traded as a perpetual on BingX until October 10, 2026. No venue lists it at the moment; we keep tracking it, and with the next listing this page becomes a full market page again. Until then: fundamentals below and tradable alternatives.

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Company financials

Financials at a glance

Last report Q2 '26 · filed 2026-06-30 · next report 2026-11-18 · Updated 2h ago
All financials →

Valuation & key figures

Market cap
$453.1B
Updated 2h ago
Revenue
$117.5B
Trailing 12 months
Revenue growth
+13%
Next fiscal year
Profit margin
+29.8%
P/E
13.1
Peer P/E 16.4
P/S
3.9
Peer P/E
16.4
Similar listed perps
Free cash flow
$26.9B
Trailing 12 months
Net income
$35.1B
Trailing 12 months
Revenue estimate
$123.7B
Next fiscal year
Earnings
2026-11-18
Revenue est. $31.4B · Updated 2h ago
Dividend
$0.675
2026-05-18
Revenue (TTM)CN¥783B+11.2% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)32.5%+0.9 pp vs a year agoOperating income CN¥254B
Net income (TTM)CN¥234B+12.4% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)CN¥179B-4.4% vs a year agoCapex CN¥127B
Diluted EPS (TTM)CN¥25.35+14.0% vs a year agoSum of the last 4 quarters
Net cash-CN¥2.14B+93.3% vs a year agoCash + short-term investments - debt
  • Revenue growth slowing: 10.7% year on yearQ2 '26 revenue CN¥204B, against an average of 12.2% over the four quarters before.
  • Operating margin 32.5% (TTM), +0.9 pp on a year agoOperating income grew 14.3% while revenue grew 11.2%.
  • 11.7% of pre-tax profit is non-operatingPre-tax income CN¥288B vs operating income CN¥254B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
  • Capex 16.2% of revenue (a year ago 13.6%)CN¥127B invested in the last 4 quarters (+32.0% on a year earlier). Free cash flow CN¥179B = 76.6% of net income.

Revenue, operating income and growth

quarterly

Revenue by business line

latest quarter
LineRevenuey/yShare
VASCN¥98.4B+7.7%48.1%
FinTech and Business ServicesCN¥60.3B+8.6%29.4%
Marketing ServicesCN¥43.6B+21.8%21.3%
OthersCN¥2.52B+37.1%1.2%
In the full financialsIncome statement, balance sheet and cash flow (12 quarters / 10 years) · margins and cost structure · capital allocation and buybacks · valuation against the 5-year range · analyst estimates

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20264.29$123.7B+13%4
FY 20274.49$135.3B+23%4
FY 20284.95$148.1B+35%2
FY 20296.32$171.3B+56%1
FY 20300.00$160.7B+46%1
Q3 20261.07$31.6B+10%2

Company events

6
2026-11-18EarningsActual - / Estimate 1.11-
2026-08-12EarningsActual 1.09 / Estimate 1.08Beat
2026-05-18Dividend$0.675-
2026-05-13EarningsActual 1.06 / Estimate 1.07Miss
2026-03-18EarningsActual 0.98 / Estimate 1.02Miss
2025-11-13EarningsActual 1.06 / Estimate 0.98Beat

Peer comparison

Similar listed perps
NameMarket capP/SP/EProfit marginVenues
NFLX$259.6B5.217.7+29.7%24DIS$195.3B2.023.3+8.7%15VZ$186.7B1.311.5+11.8%3TMUS$165.7B1.815.1+12.0%4SOFTBANK$159.2B3.15.1+61.6%7RECRUIT$158.1B6.543.6+15.0%1T$141B1.111.3+10.1%2SPOT$120.1B5.535.3+15.5%8

Company data

Company intelligence

Updated: Oct 10, 2026, 03:25 AM UTC

Company profile

Sector
Communication Services
Industry
Internet Content & Information
Chief executive
Huateng Ma
Employees
115,849
IPO date
Jan 5, 2010
Country
CN
Exchange
Other OTC
Website
Altman Z-scorei3.59
Piotroski scorei7/9
Overall ratingiB+
Owner earningsiCN¥55.98BCN¥6.05 per share

Rating factors

Return on equityi
4
Return on assetsi
5
Debt to equityi
2
Price to earningsi
3
Price to booki
2

Company press releases

Tencent Music Entertainment Group Announces Closing of US$1,000 Million Notes OfferingPRNewsWireTencent Music Entertainment Group Announces Pricing of US$1,000 Million Notes OfferingPRNewsWireTencent Music Entertainment Group Announces Notes OfferingPRNewsWireTencent Details Progress Toward Carbon Neutrality Goals and Outlines AI-Era PrioritiesPRNewsWireTencent Music Entertainment Group Announces Second Quarter 2026 Unaudited Financial ResultsPRNewsWireTencent Music Entertainment Group to Report Second Quarter 2026 Financial Results on August 11, 2026PRNewsWire

Congressional disclosures

Senate

House

Market cap history
$492.77B-8.7%Jul 26 – Oct 26
$492.77B$529.03B$565.29BHigh: $565.29B · 2026-08-03Latest: $492.77B · 2026-10-09Jul 26Aug 26Sep 26Oct 26
Latest: $492.77B · 2026-10-09High: $565.29B · 2026-08-03Low: $492.77B · 2026-10-09
Largest fund holders
FundWeightShares held
MFSI2.28%500.3K
APIE2.19%470.6K
HEMZX5.34%390.7K
AGEM4.24%287.7K
BDYN0.45%250.1K
BGGG3.03%159.7K
RGEF0.99%149.8K
BGIA2.22%132.9K
BRIE1.06%111.4K
AOTIX1.7%65.9K
BGCG3.12%60.7K
EMAG0.35%54.5K

Analyst track record

How the analysts covering TCEHY have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings923
Analysts24
Buy / hold / sell8 / 1 / 020 / 3 / 0
Upgrades / downgrades / initiations1 / 1 / 01 / 1 / 0
Price targets hit / missed0 / 7 (0%)4 / 17 (19%)
Avg. return after a rating (TipRanks)-52.0%-28.1%
Best / worst call-44.7% / -54.1%+22.9% / -54.1%

After buy calls on this stock: median 21-day move -2.9% vs S&P 500 -3.7% (n = 20)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Jiong ShaoBarclays82% hit rate on this stock · 11 targets measuredBuytarget $88.00Oct 20, 2026

Latest ratings

DateAnalystCallTarget
Oct 20, 2026Jiong ShaoBarclaysBuyMaintained$88.00article ↗
Oct 20, 2026Jiong ShaoBarclaysBuyMaintained$88.00
Aug 12, 2026Jiong ShaoBarclaysBuyReiterated$106article ↗
Jul 16, 2026Jiong ShaoBarclaysBuyMaintained$106article ↗
May 13, 2026Jiong ShaoBarclaysBuyReiterated$106article ↗
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$50.00$60.00$70.00$80.00$90.00$100$110Dec 25 · Buy 2 · Hold 0 · Sell 0Dec 25Jan 26 · Buy 2 · Hold 0 · Sell 0Feb 26 · Buy 1 · Hold 1 · Sell 0Feb 26Mar 26 · Buy 1 · Hold 1 · Sell 0Apr 26 · Buy 1 · Hold 1 · Sell 0Apr 26May 26 · Buy 1 · Hold 1 · Sell 0Jun 26 · Buy 1 · Hold 1 · Sell 0Jun 26Jul 26 · Buy 1 · Hold 1 · Sell 0Aug 26 · Buy 1 · Hold 0 · Sell 0Aug 26Sep 26 · Buy 1 · Hold 0 · Sell 0Oct 26 · Buy 1 · Hold 0 · Sell 0Oct 26Nov 26 · Buy 1 · Hold 0 · Sell 0Dec 25 · avg. target $102Jan 26 · avg. target $102Feb 26 · avg. target $102Mar 26 · avg. target $102Apr 26 · avg. target $102May 26 · avg. target $106Jun 26 · avg. target $106Jul 26 · avg. target $106Aug 26 · avg. target $106Sep 26 · avg. target $106Oct 26 · avg. target $88.00Nov 26 · avg. target $88.00Dec 25 · month-end close $76.55Jan 26 · month-end close $76.39Feb 26 · month-end close $65.70Mar 26 · month-end close $63.22Apr 26 · month-end close $61.02May 26 · month-end close $54.60Jun 26 · month-end close $55.22Jul 26 · month-end close $61.43Aug 26 · month-end close $57.19Sep 26 · month-end close $54.22Oct 26 · month-end close $49.04Nov 26 · month-end close $49.04

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data · computed Oct 30, 2026 · 9 ratings