Professional
Added to YB: 2024-03-06
Pitch date: 2024-03-05
TME [bullish]
Tencent Music Entertainment Group
+92.8%
current return
Author Info
No bio for this author
Company Info
Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the People’s Republic of China.
Market Cap
$212.6B
Pitch Price
$9.45
Price Target
12.50 (-31%)
Dividend
0.95%
EV/EBITDA
15.39
P/E
19.37
EV/Sales
6.21
Sector
Entertainment
Category
growth
Tencent Music Entertainment Group: Margin Expansions Neutralize Regulatory Challenges
TME: Music giant in China w/ 600M MAU. Low subscriber ratio means room to grow by paywalling content. Ad $ potential from long-form audio. Margins to expand as sub rev grows. Narrow moat from network effects & data assets. Risks: competition, macro, VIE structure. FVE $12.50.
Read full article (9 min)