Tencent Music Entertainment Group (TME) balance sheet

NYSE · Communication Services · Internet Content & Information · 5,690 employees · CEO Zhu Liang

Price: $9.03
Market cap: $13.4B
Enterprise value: CN¥80.1B Data as of 2026-11-14
Last report: Q2 '26 filed 2026-09-01
Next report: 2026-11-17

At the end of Q2 '26 Tencent Music Entertainment Group (TME) held CN¥30.7B in cash and short-term investments against CN¥16.9B of debt incl. leases. Total assets CN¥117B, total liabilities CN¥35.9B, shareholders' equity CN¥78.3B.

Balance sheet

Balance sheet	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Assets
Cash & equivalents	CN¥12.4B	CN¥13.6B	CN¥10.2B	CN¥12.3B	CN¥10.2B	CN¥13.2B	CN¥12B	CN¥11B	CN¥11.3B	CN¥8.49B	CN¥18.4B	CN¥23.7B
Short-term investments	CN¥9.84B	CN¥9.97B	CN¥16.4B	CN¥12.3B	CN¥18.4B	CN¥14B	CN¥14.7B	CN¥11.2B	CN¥11.1B	CN¥15.9B	CN¥8.3B	CN¥6.96B
Receivables	CN¥2.5B	CN¥2.92B	CN¥2.81B	CN¥3.02B	CN¥2.94B	CN¥3.51B	CN¥3.2B	CN¥3.73B	CN¥3.68B	CN¥3.91B	CN¥3.81B	CN¥4.18B
Inventory	CN¥5M	CN¥8M	CN¥11M	CN¥14M	CN¥18M	CN¥23M	CN¥18M	CN¥32M	CN¥57M	CN¥41M	CN¥47.8M	CN¥98M
Other current assets	CN¥3.35B	CN¥267M	CN¥31M	CN¥3.21B	CN¥3.01B	CN¥84M	CN¥11M	CN¥20M	CN¥3.86B	CN¥4.19B	CN¥4.02B	CN¥4.75B
Current assets	CN¥28.1B	CN¥29.9B	CN¥32.5B	CN¥30.8B	CN¥34.5B	CN¥34.5B	CN¥34.2B	CN¥30.9B	CN¥29.9B	CN¥32.5B	CN¥34.5B	CN¥39.7B
Property, plant & equipment (net)	CN¥826M	CN¥857M	CN¥843M	CN¥899M	CN¥1.02B	CN¥1.1B	CN¥1.2B	CN¥1.27B	CN¥1.36B	CN¥1.49B	CN¥1.57B	CN¥1.86B
Long-term investments	CN¥19B	CN¥19.8B	CN¥21B	CN¥25.8B	CN¥24.2B	CN¥29.9B	CN¥38B	CN¥49.2B	CN¥46.9B	CN¥42B	CN¥36.9B	CN¥36.4B
Goodwill	CN¥19.5B	CN¥19.5B	CN¥19.6B	CN¥19.6B	CN¥19.6B	CN¥19.6B	CN¥19.6B	CN¥20.5B	CN¥20.5B	CN¥20.5B	CN¥20.5B	CN¥29.8B
Intangible assets	CN¥4.59B	CN¥4.47B	CN¥4.44B	CN¥4.44B	CN¥4.38B	CN¥4.41B	CN¥4.37B	CN¥5.37B	CN¥2.94B	CN¥2.9B	CN¥2.76B	CN¥8.15B
Deferred tax assets	CN¥375M	CN¥352M	CN¥360M	CN¥369M	CN¥388M	CN¥422M	CN¥393M	CN¥431M	CN¥538M	CN¥498M	CN¥533M	CN¥0
Other non-current assets	CN¥580M	CN¥540M	CN¥437M	CN¥419M	CN¥454M	CN¥425M	CN¥312M	CN¥263M	CN¥2.68B	CN¥2.66B	CN¥2.68B	CN¥1.08B
Non-current assets	CN¥44.9B	CN¥45.6B	CN¥46.6B	CN¥51.6B	CN¥50.1B	CN¥55.9B	CN¥63.9B	CN¥77B	CN¥75B	CN¥70.1B	CN¥64.9B	CN¥77.3B
Total assets	CN¥73B	CN¥75.5B	CN¥79.2B	CN¥82.4B	CN¥84.6B	CN¥90.4B	CN¥98.1B	CN¥108B	CN¥105B	CN¥103B	CN¥99.5B	CN¥117B
Liabilities
Accounts payable	CN¥5.05B	CN¥5.01B	CN¥5.49B	CN¥6.22B	CN¥6.52B	CN¥6.88B	CN¥7.3B	CN¥6.96B	CN¥6.62B	CN¥6.29B	CN¥6.15B	CN¥6.72B
Accrued expenses	CN¥0	CN¥2.67B	CN¥0	CN¥0	CN¥0	CN¥2.3B	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Short-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥2.1B	CN¥2.15B	CN¥2.15B	CN¥2.15B	CN¥0	CN¥116M	CN¥111M	CN¥6B
Taxes payable	CN¥491M	CN¥775M	CN¥670M	CN¥696M	CN¥823M	CN¥1.11B	CN¥911M	CN¥851M	CN¥0	CN¥0	CN¥0	CN¥0
Deferred revenue	CN¥2.56B	CN¥3.05B	CN¥2.99B	CN¥2.95B	CN¥2.93B	CN¥3.44B	CN¥3.31B	CN¥3.43B	CN¥3.41B	CN¥3.54B	CN¥3.8B	CN¥0
Other current liabilities	CN¥0	CN¥0	CN¥3.61B	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥3.27B	CN¥3.56B	CN¥5.44B	CN¥9.9B
Current liabilities	CN¥11.4B	CN¥12B	CN¥12.2B	CN¥13.2B	CN¥15.3B	CN¥16.6B	CN¥18.6B	CN¥16.5B	CN¥14.4B	CN¥14.6B	CN¥16.6B	CN¥22.7B
Long-term debt	CN¥5.71B	CN¥5.64B	CN¥5.65B	CN¥5.67B	CN¥3.48B	CN¥3.57B	CN¥3.57B	CN¥3.56B	CN¥3.53B	CN¥3.5B	CN¥4.53B	CN¥10.5B
Lease obligations (non-current)	CN¥320M	CN¥297M	CN¥257M	CN¥243M	CN¥235M	CN¥219M	CN¥251M	CN¥232M	CN¥227M	CN¥200M	CN¥187M	CN¥218M
Deferred revenue (non-current)	CN¥137M	CN¥148M	CN¥156M	CN¥163M	CN¥163M	CN¥179M	CN¥209M	CN¥250M	CN¥280M	CN¥303M	CN¥355M	CN¥447M
Deferred tax liabilities	CN¥206M	CN¥239M	CN¥174M	CN¥267M	CN¥234M	CN¥198M	CN¥227M	CN¥616M	CN¥679M	CN¥504M	CN¥586M	CN¥1.46B
Other non-current liabilities	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥345M	CN¥365M	CN¥379M	CN¥423M	CN¥468M
Non-current liabilities	CN¥6.38B	CN¥6.32B	CN¥6.23B	CN¥6.35B	CN¥4.11B	CN¥4.17B	CN¥4.26B	CN¥5B	CN¥5.09B	CN¥4.89B	CN¥6.08B	CN¥13.1B
Total liabilities	CN¥17.8B	CN¥18.3B	CN¥18.4B	CN¥19.5B	CN¥19.4B	CN¥20.7B	CN¥22.9B	CN¥21.5B	CN¥19.4B	CN¥19.5B	CN¥22.6B	CN¥35.9B
Equity
Common stock & paid-in capital	CN¥2M	CN¥2M	CN¥2M	CN¥2M	CN¥2M	CN¥2M	CN¥2M	CN¥2M	CN¥2M	CN¥2M	CN¥1.99M	CN¥2M
Retained earnings	CN¥15.7B	CN¥17B	CN¥18.4B	CN¥16.5B	CN¥18.1B	CN¥20.1B	CN¥22.6B	CN¥25B	CN¥27.2B	CN¥29.4B	CN¥28.5B	CN¥31.1B
Accumulated other comprehensive income	CN¥8.51B	CN¥9.66B	CN¥11.9B	CN¥15.5B	CN¥16.7B	CN¥19.8B	CN¥23B	CN¥30.9B	CN¥27.1B	CN¥0	CN¥17.1B	CN¥15.6B
Shareholders' equity	CN¥53.9B	CN¥55.9B	CN¥59.3B	CN¥61.2B	CN¥63.5B	CN¥67.9B	CN¥73.2B	CN¥83.9B	CN¥82.8B	CN¥80.3B	CN¥74.1B	CN¥78.3B
Debt
Total debt (incl. leases)	CN¥6.15B	CN¥6.05B	CN¥6B	CN¥6.03B	CN¥5.92B	CN¥6.05B	CN¥6.08B	CN¥6.04B	CN¥3.87B	CN¥3.82B	CN¥4.82B	CN¥16.9B
Net debt (debt - cash)	-CN¥6.24B	-CN¥7.52B	-CN¥4.22B	-CN¥6.22B	-CN¥4.29B	-CN¥7.11B	-CN¥5.95B	-CN¥4.96B	-CN¥7.39B	-CN¥4.67B	-CN¥13.5B	-CN¥6.81B

Balance sheet	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Assets
Cash & equivalents	CN¥3.07B	CN¥5.17B	CN¥17.4B	CN¥2.21B	CN¥11.1B	CN¥6.59B	CN¥9.56B	CN¥13.6B	CN¥13.2B	CN¥8.49B
Short-term investments	CN¥261M	CN¥0	CN¥81M	CN¥1.01B	CN¥14.9B	CN¥13.8B	CN¥11.3B	CN¥9.97B	CN¥14B	CN¥15.9B
Receivables	CN¥809M	CN¥1.3B	CN¥1.48B	CN¥345M	CN¥2.99B	CN¥3.8B	CN¥2.92B	CN¥2.92B	CN¥3.51B	CN¥3.91B
Inventory	CN¥14M	CN¥30M	CN¥35M	CN¥3.73M	CN¥18M	CN¥24M	CN¥14M	CN¥8M	CN¥23M	CN¥41M
Other current assets	CN¥35M	CN¥39M	CN¥55M	CN¥62.2M	CN¥53M	CN¥56M	CN¥87M	CN¥267M	CN¥1.38B	CN¥4.19B
Current assets	CN¥5B	CN¥7.47B	CN¥20.8B	CN¥3.89B	CN¥31.7B	CN¥26.8B	CN¥26.6B	CN¥29.9B	CN¥34.5B	CN¥32.5B
Property, plant & equipment (net)	CN¥108M	CN¥127M	CN¥168M	CN¥46.9M	CN¥487M	CN¥526M	CN¥721M	CN¥857M	CN¥1.1B	CN¥1.49B
Long-term investments	CN¥302M	CN¥4.12B	CN¥3.78B	CN¥814M	CN¥15.3B	CN¥15.4B	CN¥14.3B	CN¥19.8B	CN¥29.9B	CN¥42B
Goodwill	CN¥15.8B	CN¥16.3B	CN¥17.1B	CN¥2.46B	CN¥17.5B	CN¥19.1B	CN¥19.5B	CN¥19.5B	CN¥19.6B	CN¥20.5B
Intangible assets	CN¥2.01B	CN¥1.72B	CN¥1.76B	CN¥233M	CN¥2.02B	CN¥4.32B	CN¥4.85B	CN¥4.47B	CN¥4.41B	CN¥2.9B
Deferred tax assets	CN¥87M	CN¥105M	CN¥123M	CN¥7.32M	CN¥303M	CN¥346M	CN¥347M	CN¥352M	CN¥422M	CN¥498M
Other non-current assets	CN¥272M	CN¥204M	CN¥901M	CN¥117M	CN¥956M	CN¥743M	CN¥709M	CN¥540M	CN¥425M	CN¥2.66B
Non-current assets	CN¥18.5B	CN¥22.5B	CN¥23.8B	CN¥3.68B	CN¥36.6B	CN¥40.5B	CN¥40.5B	CN¥45.6B	CN¥55.9B	CN¥70.1B
Total assets	CN¥23.5B	CN¥30B	CN¥44.6B	CN¥7.56B	CN¥68.3B	CN¥67.3B	CN¥67B	CN¥75.5B	CN¥90.4B	CN¥103B
Liabilities
Accounts payable	CN¥998M	CN¥1.05B	CN¥1.83B	CN¥367M	CN¥3.57B	CN¥4.33B	CN¥5B	CN¥5.01B	CN¥6.88B	CN¥6.29B
Accrued expenses	CN¥49M	CN¥752M	CN¥1.47B	CN¥0	CN¥2.72B	CN¥3.26B	CN¥2.83B	CN¥2.67B	CN¥2.3B	CN¥0
Short-term debt	CN¥0	CN¥0	CN¥0	CN¥9.91M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥2.15B	CN¥116M
Taxes payable	CN¥74M	CN¥229M	CN¥338M	CN¥65.2M	CN¥445M	CN¥363M	CN¥598M	CN¥775M	CN¥1.11B	CN¥0
Deferred revenue	CN¥415M	CN¥1.05B	CN¥1.54B	CN¥258M	CN¥1.71B	CN¥1.83B	CN¥2.31B	CN¥3.05B	CN¥3.44B	CN¥3.54B
Other current liabilities	CN¥0	CN¥1.05B	CN¥0	CN¥528M	CN¥0	-CN¥12M	CN¥0	CN¥0	CN¥0	CN¥3.56B
Current liabilities	CN¥2.52B	CN¥3.53B	CN¥6.24B	CN¥1.23B	CN¥9.6B	CN¥10.5B	CN¥11.7B	CN¥12B	CN¥16.6B	CN¥14.6B
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥5.18B	CN¥5.06B	CN¥5.54B	CN¥5.64B	CN¥3.57B	CN¥3.5B
Lease obligations (non-current)	CN¥0	CN¥0	CN¥0	CN¥11.2M	CN¥218M	CN¥205M	CN¥306M	CN¥297M	CN¥219M	CN¥200M
Deferred revenue (non-current)	CN¥0	CN¥0	CN¥40M	CN¥19.1M	CN¥78M	CN¥86M	CN¥112M	CN¥148M	CN¥179M	CN¥303M
Deferred tax liabilities	CN¥350M	CN¥304M	CN¥354M	CN¥34M	CN¥265M	CN¥271M	CN¥211M	CN¥239M	CN¥198M	CN¥504M
Other non-current liabilities	CN¥28M	CN¥0	CN¥201M	CN¥0	CN¥204M	CN¥125M	CN¥0	CN¥0	CN¥0	CN¥379M
Non-current liabilities	CN¥378M	CN¥325M	CN¥595M	CN¥64.3M	CN¥5.94B	CN¥5.75B	CN¥6.17B	CN¥6.32B	CN¥4.17B	CN¥4.89B
Total liabilities	CN¥2.9B	CN¥3.85B	CN¥6.83B	CN¥1.29B	CN¥15.5B	CN¥16.2B	CN¥17.9B	CN¥18.3B	CN¥20.7B	CN¥19.5B
Equity
Common stock & paid-in capital	CN¥2M	CN¥2M	CN¥2M	CN¥287K	CN¥2M	CN¥2M	CN¥2M	CN¥2M	CN¥2M	CN¥2M
Retained earnings	-CN¥57M	CN¥1.23B	CN¥3.04B	CN¥876M	CN¥11.1B	CN¥14.2B	CN¥12.1B	CN¥17B	CN¥20.1B	CN¥29.4B
Accumulated other comprehensive income	CN¥617M	CN¥997M	CN¥903M	CN¥444M	CN¥6.3B	CN¥3.73B	CN¥6.14B	CN¥9.66B	CN¥19.8B	CN¥0
Shareholders' equity	CN¥20.6B	CN¥26.1B	CN¥37.7B	CN¥6.26B	CN¥52.2B	CN¥50.3B	CN¥48.1B	CN¥55.9B	CN¥67.9B	CN¥80.3B
Debt
Total debt (incl. leases)	CN¥0	CN¥0	CN¥0	CN¥21.1M	CN¥5.5B	CN¥5.36B	CN¥5.97B	CN¥6.05B	CN¥6.05B	CN¥3.82B
Net debt (debt - cash)	-CN¥3.07B	-CN¥5.17B	-CN¥17.4B	-CN¥2.19B	-CN¥5.63B	-CN¥1.23B	-CN¥3.59B	-CN¥7.52B	-CN¥7.11B	-CN¥4.67B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Cash, investments and debt

quarter ends

The other statements

Income statementRevenue, costs, operating income, net income and EPSOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-14 · Amounts in CNY as reported; price and market cap in USD.