Tencent Holdings Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	217,906	194,073	115,216	188,243	224,822	159,847
Depreciation & Amortization	31,763	28,323	27,387	30,137	27,794	23,058
Other Amortization	31,114	27,890	31,621	31,079	29,876	27,716
Loss (Gain) From Sale of Assets	-194	-194	-126	-108	-35	-120
Asset Writedown & Restructuring Costs	1,563	1,563	134	17,428	8,704	4,872
Loss (Gain) From Sale of Investments	-7,031	-7,031	3,931	-137,419	-149,453	-56,657
Loss (Gain) on Equity Investments	-25,176	-25,176	-5,800	16,129	16,444	-3,672
Stock-Based Compensation	20,702	20,702	21,073	24,949	21,625	12,634
Other Operating Activities	-1,905	-3,510	9,293	-5,875	-5,482	-982
Change in Accounts Receivable	-1,048	-1,048	-1,010	4,336	-4,026	-7,530
Change in Inventory	20	20	1,882	-1,201	1,297	-95
Change in Accounts Payable	10,872	10,872	8,044	-6,518	20,598	13,033
Change in Unearned Revenue	16,533	16,533	3,821	-6,637	2,293	18,184
Change in Other Net Operating Assets	-4,496	-4,496	6,496	-8,452	-19,271	3,831
Operating Cash Flow	290,623	258,521	221,962	146,091	175,186	194,119
Operating Cash Flow Growth	12.46%	16.47%	51.93%	-16.61%	-9.75%	30.64%
Capital Expenditures	-82,311	-62,927	-21,008	-22,679	-29,302	-34,070
Sale of Property, Plant & Equipment	203	203	257	376	191	-
Cash Acquisitions	-7,847	-7,847	-7,633	-12,267	-21,944	-15,097
Divestitures	1	1	14	33	-	15
Sale (Purchase) of Intangibles	-33,121	-33,121	-26,399	-28,171	-32,863	-32,529
Investment in Securities	-36,785	-36,785	-83,407	-50,413	-92,754	-106,766
Other Investing Activities	-30,998	18,289	13,015	8,250	-1,877	6,492
Investing Cash Flow	-190,858	-122,187	-125,161	-104,871	-178,549	-181,955
Short-Term Debt Issued	-	62,563	29,809	7,701	23,103	5,090
Long-Term Debt Issued	-	52,021	33,641	22,535	60,408	74,271
Total Debt Issued	114,584	114,584	63,450	30,236	83,511	79,361
Short-Term Debt Repaid	-	-40,049	-9,889	-15,378	-22,944	-8,512
Long-Term Debt Repaid	-	-95,224	-50,909	-14,420	-5,200	-29,896
Total Debt Repaid	-135,273	-135,273	-60,798	-29,798	-28,144	-38,408
Net Debt Issued (Repaid)	-20,689	-20,689	2,652	438	55,367	40,953
Issuance of Common Stock	2,102	1,932	1,070	995	1,043	1,716
Repurchase of Common Stock	-79,901	-105,856	-48,387	-32,189	-4,997	-1,865
Common Dividends Paid	-38,082	-28,859	-20,983	-12,952	-12,503	-10,339
Other Financing Activities	50,658	-23,022	-16,925	-16,245	-17,290	-16,818
Financing Cash Flow	-85,912	-176,494	-82,573	-59,953	21,620	13,647
Foreign Exchange Rate Adjustments	661	359	1,353	7,506	-3,089	-6,004
Net Cash Flow	14,514	-39,801	15,581	-11,227	15,168	19,807
Free Cash Flow	208,312	195,594	200,954	123,412	145,884	160,049
Free Cash Flow Growth	-2.48%	-2.67%	62.83%	-15.40%	-8.85%	27.20%
Free Cash Flow Margin	28.54%	29.62%	33.00%	22.25%	26.05%	33.20%
Free Cash Flow Per Share	22.48	20.79	20.91	12.73	15.05	16.59
Cash Interest Paid	12,417	12,417	11,478	9,342	7,525	7,076
Cash Income Tax Paid	46,184	46,184	34,729	27,669	28,526	20,322
Levered Free Cash Flow	129,573	131,551	149,230	71,027	94,338	100,280
Unlevered Free Cash Flow	137,994	139,330	156,659	77,268	99,286	104,936
Change in Working Capital	21,881	21,881	19,233	-18,472	891	27,423

Source: S&P Global Market Intelligence. Standard template. Financial Sources.