Tencent Music Entertainment Group

Rising Smartphone Usage And Fan Economy Will Transform Entertainment

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

24 Nov 24

Updated

28 Nov 25

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

53.1%

7D

4.1%

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1Y

53.1%

7D

4.1%

You can edit this narrative until Nov 29 10:05 PM. Then, changes will post as Updates.

Author's Valuation

US$27.0330.7% undervalued

AnalystConsensusTarget Fair Value

Shared on 28 Nov 25

Fair value Decreased 1.58%

TME: Near-Term Margin Pressures Will Create Buying Opportunity After Recent Selloff

Analysts have modestly lowered their price target for Tencent Music Entertainment Group, trimming it by $0.44 as shifts in earnings outlook and ongoing competitive pressures prompt a more cautious near-term stance. Analyst Commentary Recent Street research offers a mixed perspective on Tencent Music Entertainment Group, reflecting both optimism about its strategic positioning and caution regarding competitive pressures and margin dynamics.

Shared on 14 Nov 25

Fair value Decreased 3.09%

TME: Market Pullback Will Likely Create Compelling Entry Opportunity Ahead

Analysts have modestly lowered their price target for Tencent Music Entertainment Group, reducing it by approximately $0.87 per share. Evolving revenue mix and margin pressures are prompting some caution, even as analysts express continued confidence in the company's growth outlook.

Shared on 19 Aug 25

Fair value Increased 8.24%

Tencent Music Entertainment Group’s analyst price target was raised to $28.14 following a strong Q2 beat, accelerating revenue growth, and robust monetization across its music ecosystem, reflecting increased confidence in its outlook. Analyst Commentary Bullish analysts cited a clean Q2 beat across all key metrics, with online music revenue growing 26% and significant improvement in average revenue per user.

Shared on 29 Jul 25

Fair value Increased 51%

Driven by sharply improved revenue growth expectations and a substantial decrease in future P/E, analysts have raised Tencent Music Entertainment Group’s fair value estimate from $17.38 to $19.10. What's in the News Online music monthly active users (MAU) declined to 555 million from 578 million year-over-year.

Shared on 07 May 25

Fair value Decreased 0.40%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 30 Apr 25

Fair value Increased 0.46%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 23 Apr 25

Fair value Increased 0.64%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 16 Apr 25

Fair value Decreased 0.69%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Increased 1.11%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 02 Apr 25

Fair value Increased 2.87%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

Fair value Increased 9.00%

AnalystConsensusTarget has increased future PE multiple from 20.6x to 22.9x.

Shared on 19 Mar 25

Fair value Decreased 19%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 10 Mar 25

Fair value Increased 4.86%

AnalystConsensusTarget Fair Value

US$27.03

30.7% undervalued

Future estimation in

% p.a.

0

Decrease

Increase

Current revenue growth rate

11.91%

Entertainment revenue growth rate

0.42%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

9.78%

Calculation

CN¥14.22b

Earnings '28

x

27.37x

PE Ratio '28

=

CN¥389.10b

Market Cap '28

CN¥389.10b

Market Cap '28

/

1.54b

No. shares '28

=

CN¥253.28

Share Price '28

CN¥253.28 Share Price '28

Discounted to 2025 @ 9.80% p.a.

=

CN¥191.35

Fair Value '25

CN¥191.35 Fair Value '25

Converted to USD @ 0.1412 CNY/USD Exchange Rate

=

US$27.03

Fair Value '25