Tencent Music Entertainment (TME) Return on Capital Employed (2019 - 2026)
Tencent Music Entertainment (TME) posted Return on Capital Employed of 13.09% for Q1 2026, down 11.86% sequentially from 14.86% in Q4 2025, and down 215.0% YoY from 11.39% in Q1 2025.
Tencent Music Entertainment (TME) Return on Capital Employed (2019 - 2026) Analysis & Trends
Tencent Music Entertainment has reported Return on Capital Employed for 8 years, with the latest figure at 13.09% in Q1 2026.
- Quarterly Return on Capital Employed fell 215.0% year-over-year to 13.09% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 13.09% (down 215.0% YoY) and the FY2025 annual result came in at 16.71%, up 381.0% from the prior year.
- Return on Capital Employed declined to 13.09% in Q1 2026 per TME's latest filing, from 14.86% in the prior quarter.
- Over five years, Return on Capital Employed peaked at 15.25% in Q1 2025 and troughed at 6.05% in Q1 2022.
- A 5-year average of 10.53% and a median of 9.92% in 2023 frame the typical range for Return on Capital Employed.
- The sharpest annual moves came in 2025 and 2026: Return on Capital Employed jumped 506 bps in 2025, then slumped 215 bps in 2026.
- Over 5 years, Return on Capital Employed stood at 8.41% in 2022, then increased by 18 bps to 9.92% in 2023, then grew by 9 bps to 10.84% in 2024, then surged by 37 bps to 14.86% in 2025, then retreated by 12 bps to 13.09% in 2026.
- According to Business Quant data, Return on Capital Employed over the past three periods registered 13.09%, 14.86%, and 13.87% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,239.24 Bn | 3,810.20 Bn | 73.85 Bn | 21.49% |
| 2 | Meta Platforms | 1,536.10 Bn | 1,445.84 Bn | 49.47 Bn | 23.74% |
| 3 | Taboola.com | 1,139.07 Bn | 1,138.93 Bn | 139.48 Mn | 5.19% |
| 4 | Baidu | 289.49 Bn | 284.99 Bn | 1.88 Mn | -1.83% |
| 5 | Spotify Technology | 102.84 Bn | 92.60 Bn | 1.75 Bn | - |
| 6 | Joyy | 77.82 Bn | 76.94 Bn | 205.64 Mn | 1.52% |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | - |
| 8 | Nebius | 49.20 Bn | 39.58 Bn | 295.20 Mn | -3.77% |
| 9 | 30.50 Bn | 27.72 Bn | 734.60 Mn | 24.36% | |
| 10 | Tencent Music Entertainment | 27.07 Bn | 24.37 Bn | 514.00 Mn | 13.09% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 13.09% |
| Dec 31, 2025 | 14.86% |
| Sep 30, 2025 | 13.87% |
| Jun 30, 2025 | 14.24% |
| Mar 31, 2025 | 15.25% |
| Jun 30, 2024 | 10.84% |
| Mar 31, 2024 | 10.19% |
| Dec 31, 2023 | 9.92% |
| Sep 30, 2023 | 9.62% |
| Jun 30, 2023 | 9.36% |
| Mar 31, 2023 | 9.03% |
| Dec 31, 2022 | 8.41% |
| Sep 30, 2022 | 7.03% |
| Jun 30, 2022 | 6.25% |
| Mar 31, 2022 | 6.05% |
| Dec 31, 2021 | 6.70% |
| Sep 30, 2021 | 7.66% |
| Jun 30, 2021 | 8.09% |
| Mar 31, 2021 | 8.09% |
| Jun 30, 2020 | 9.70% |