Tencent Music Entertainment (TME) Return on Capital Employed [ROCE] (2019 - 2026)
Tencent Music Entertainment (TME) recorded Return on Capital Employed [ROCE] of 12.91% in Q2 2026, down 1.37 percentage points from 14.28% a year earlier and down 0.22 percentage points from the prior quarter.
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Analysis
Tencent Music Entertainment (TME) Return on Capital Employed [ROCE] (2019 - 2026) Analysis & Trends
For FY2025, Tencent Music Entertainment reported Return on Capital Employed [ROCE] of 16.71%, up 3.81 percentage points from FY2024.
- Annual Return on Capital Employed [ROCE] has increased for four straight years, with a five-year change of +7.13 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Capital Employed [ROCE] came in at 12.90% in FY2024 (+3.72 pp), 9.18% in FY2023 (+1.55 pp), 7.63% in FY2022 (+0.91 pp) and 6.72% in FY2021 (-2.85 pp).
- The Q2 2026 figure is the lowest quarterly Return on Capital Employed [ROCE] since Q2 2024.
- On a year-over-year basis, Return on Capital Employed [ROCE] rose in two of the last four quarters, with an average year-over-year change of +1.21 percentage points.
- Peak year-over-year performance for Return on Capital Employed [ROCE] in the last five years was a gain of 4.94 percentage points in Q1 2025, against a drop of 2.12 percentage points in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 13.13% (Q1 2026), 14.89% (Q4 2025) and 13.90% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,185.47 Bn | 3,943.00 Bn | 73.85 Bn | 21.49% |
| 2 | Meta Platforms | 1,794.56 Bn | 1,497.08 Bn | 49.47 Bn | 23.74% |
| 3 | Netflix | 292.71 Bn | 252.90 Bn | 6.52 Bn | 30.16% |
| 4 | Alibaba Group Holding | 251.74 Bn | 65.51 Bn | 15.11 Bn | 2.13% |
| 5 | Shopify | 221.57 Bn | 198.76 Bn | 1.71 Bn | 14.37% |
| 6 | Uber Technologies | 142.45 Bn | 114.25 Bn | 6.38 Bn | 13.97% |
| 7 | Booking Holdings | 124.83 Bn | 57.88 Bn | - | 121.68% |
| 8 | PDD Holdings | 113.76 Bn | -130.01 Bn | 9.45 Bn | 22.53% |
| 9 | Spotify Technology | 106.73 Bn | 64.23 Bn | 1.86 Bn | 20.20% |
| 10 | Tencent Music Entertainment | 13.26 Bn | -9.47 Bn | 579.95 Mn | 12.87% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.87% |
| Mar 31, 2026 | 12.95% |
| Dec 31, 2025 | 14.72% |
| Sep 30, 2025 | 13.92% |
| Jun 30, 2025 | 14.29% |
| Mar 31, 2025 | 15.44% |
| Jun 30, 2024 | 10.85% |
| Mar 31, 2024 | 10.20% |
| Dec 31, 2023 | 9.94% |
| Sep 30, 2023 | 9.65% |
| Jun 30, 2023 | 9.48% |
| Mar 31, 2023 | 8.98% |
| Dec 31, 2022 | 8.39% |
| Sep 30, 2022 | 7.16% |
| Jun 30, 2022 | 6.27% |
| Mar 31, 2022 | 6.03% |
| Dec 31, 2021 | 6.71% |
| Sep 30, 2021 | 7.65% |
| Jun 30, 2021 | 8.04% |
| Mar 31, 2021 | 7.95% |
API Access
Tencent Music Entertainment Return on Capital Employed [ROCE] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=TME&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "ticker": "TME", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=TME&period=max&api_key=YOUR_API_KEY");
const data = await res.json();