Tencent Music Entertainment Group (HKG:1698)
Hong Kong · Delayed Price · Currency is HKD 33.68
+0.74 (2.25%)
Aug 14, 2026, 11:08 AM HKT
HKG:1698 Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 8,918 | 11,056 | 6,644 | 4,920 | 3,677 | 3,029 |
Depreciation & Amortization | 1,232 | 1,232 | 835 | 1,004 | 1,160 | 1,001 |
Other Amortization | 143 | 143 | 143 | - | - | - |
Loss (Gain) From Sale of Investments | -2,348 | -2,348 | 102 | 11 | -26 | -95 |
Loss (Gain) on Equity Investments | -42 | -42 | -96 | -127 | -38 | 47 |
Stock-Based Compensation | 669 | 669 | 596 | 649 | 665 | 647 |
Provision & Write-off of Bad Debts | 6 | 6 | 17 | 17 | 47 | 9 |
Other Operating Activities | 3,725 | 548 | 478 | 77 | -225 | 28 |
Change in Accounts Receivable | -355 | -355 | -539 | -204 | 906 | -769 |
Change in Inventory | -17 | -17 | -15 | 7 | 10 | -6 |
Change in Accounts Payable | -783 | -783 | 1,845 | 52 | 663 | 631 |
Change in Other Net Operating Assets | 122 | 122 | 265 | 931 | 642 | 717 |
Operating Cash Flow | 11,270 | 10,231 | 10,275 | 7,337 | 7,481 | 5,239 |
Operating Cash Flow Growth | 28.04% | -0.43% | 40.04% | -1.93% | 42.79% | 7.25% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -305 | -305 | -319 | -165 | -85 | -159 |
Cash Acquisitions | -1,056 | -1,056 | -34 | -9 | -165 | -2,078 |
Divestitures | - | - | -25 | - | - | 3 |
Sale (Purchase) of Intangibles | -883 | -883 | -713 | -999 | -968 | -2,599 |
Investment in Securities | -8,323 | -8,323 | -5,810 | -794 | -306 | -1,255 |
Other Investing Activities | 7,126 | 340 | 74 | 128 | 78 | 88 |
Investing Cash Flow | -3,441 | -10,227 | -6,818 | -1,863 | -1,446 | -5,999 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Repaid | - | -2,255 | -134 | -116 | -130 | -116 |
Net Debt Issued (Repaid) | -2,255 | -2,255 | -134 | -116 | -130 | -116 |
Issuance of Common Stock | 430 | 430 | 156 | 57 | 3 | 104 |
Repurchase of Common Stock | -671 | -671 | -2,142 | -1,349 | -3,145 | -3,584 |
Common Dividends Paid | -1,981 | -1,981 | -1,508 | - | - | - |
Other Financing Activities | 9,613 | -172 | -202 | -130 | -147 | -114 |
Financing Cash Flow | 5,136 | -4,649 | -3,830 | -1,538 | -3,419 | -3,710 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -266 | -49 | -30 | 76 | 348 | -67 |
Net Cash Flow | 12,699 | -4,694 | -403 | 4,012 | 2,964 | -4,537 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 10,965 | 9,926 | 9,956 | 7,172 | 7,396 | 5,080 |
Free Cash Flow Growth | 29.26% | -0.30% | 38.82% | -3.03% | 45.59% | 6.34% |
Free Cash Flow Margin | 32.31% | 30.17% | 35.05% | 25.84% | 26.10% | 16.26% |
Free Cash Flow Per Share | 7.02 | 6.39 | 6.36 | 4.53 | 4.57 | 3.02 |
Levered Free Cash Flow | 5,475 | 6,278 | 6,647 | 3,143 | 5,002 | 1,041 |
Unlevered Free Cash Flow | 5,560 | 6,354 | 6,724 | 3,220 | 5,074 | 1,116 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 119 | 119 | 119 | 117 | 115 | 105 |
Cash Income Tax Paid | 1,821 | 1,821 | 1,355 | 825 | 733 | 589 |
Change in Working Capital | -1,033 | -1,033 | 1,556 | 786 | 2,221 | 573 |