TENCENT HOLDINGS LIM

700
End-of-day quote. End-of-day quote  - 01/25
466.8HKD -0.60%
Valuation
Fiscal Period: December 2020 2021
Capitalization1 4 520 5544 449 755
Enterprise Value (EV)2 4 531 6174 312 134
P/E ratio 28,7x28,7x
Yield 0,28%0,36%
Capitalization / Revenue 9,38x7,85x
EV / Revenue 9,40x7,61x
EV / EBITDA 26,6x21,4x
Price to Book 6,40x5,12x
Nbr of stocks (in thousands) 9 523 1259 532 466
Reference price (CNY) 475467
Announcement Date 03/24/2021-
Previous period Next period
1 HKD in Million
2 CNY in Million
Estimates
Income Statement Evolution
Annual Income Statement Data
Fiscal Period: December 2020 2021
Net sales1 482 064566 651
EBITDA1 170 680201 643
Operating profit (EBIT)1 184 237188 079
Operating Margin 38,2%33,2%
Pre-Tax Profit (EBT)1 180 022184 077
Net income1 159 847159 302
Net margin 33,2%28,1%
EPS2 16,516,3
Dividend per Share2 1,341,68
Announcement Date 03/24/2021-
Previous period Next period
1 CNY in Million
2 CNY
Finances - Leverage
Fiscal Period: December 2020 2021
Net Debt1 11 063-
Net Cash position1 -137 621
Leverage (Debt / EBITDA) 0,06x-0,68x
Free Cash Flow1 160 159187 111
ROE (Net Profit / Equities) 28,1%18,0%
Shareholders' equity1 568 345885 347
ROA (Net Profit / Asset) 14,0%10,4%
Assets1 1 143 7251 533 765
Book Value Per Share2 74,291,2
Cash Flow per Share2 20,123,3
Capex1 33 96036 303
Capex / Sales 7,04%6,41%
Announcement Date 03/24/2021-
Previous period Next period
1 CNY in Million
2 CNY
Financial Ratios
Size 2021e 2022e
Capitalization 4 449 755 M CNY -
Enterprise Value (EV) 4 312 134 M CNY 4 209 665 M CNY
Valuation 2021e 2022e
P/E ratio (Price / EPS) 28,7x 28,7x
Capitalization / Revenue 7,85x 6,78x
EV / Revenue 7,61x 6,57x
EV / EBITDA 21,4x 20,0x
Yield (DPS / Price) 0,36% 0,38%
Price to book (Price / BVPS) 5,12x 4,37x
Profitability 2021e 2022e
Operating Margin (EBIT / Sales) 33,2% 29,2%
Operating Leverage (Delta EBIT / Delta Sales) 0,12x 0,11x
Net Margin (Net Profit / Revenue) 28,1% 24,3%
ROA (Net Profit / Asset) 10,4% 9,46%
ROE (Net Profit / Equities) 18,0% 15,7%
Rate of Dividend 10,3% 10,8%
Balance Sheet Analysis 2021e 2022e
CAPEX / Sales   6,41% 6,17%
Cash Flow / Sales 39,2% 33,7%
Capital Intensity (Assets / Sales) 2,71x 2,57x
Financial Leverage (Net Debt / EBITDA) - -
Price Earning Ratio
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
EPS & Dividend