Snap vs Tencent Music Entertainment
Snap is the larger business, with $5.93bn of revenue in fiscal 2025 against $4.58bn for Tencent Music Entertainment (1.3 times as much). Tencent Music Entertainment grew faster (16.0% against 10.6%). Tencent Music Entertainment kept more of each dollar of sales as profit: a net margin of 33.6% against -7.8%. Tencent Music Entertainment carries less debt relative to equity (0.0% against 157.1%).
| Latest fiscal year | SnapSNAP, 2025 | Tencent Music EntertainmentTME, 2025 |
|---|---|---|
| Revenue | $5.93bn | $4.58bn |
| Revenue growth | 10.6% | 16.0% |
| Net income | −$460m | $1.54bn |
| Operating margin | -9.0% | 40.6% |
| Net margin | -7.8% | 33.6% |
| Return on equity | -19.5% | 14.8% |
| Free cash flow | $437m | $1.38bn |
| Cash | $1.03bn | $1.21bn |
| Total debt | $3.58bn | $0 |
| Debt to equity | 157.1% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $751m | $54.3m |
| Employees | 5,261 | — |
| Market value | $9.57bn | $13.97bn |
| Price vs our value range | — | Below our value range |
| Moat score | 28 (Weak) | — |
| Insider trades, 12 months | 0 buys, 54 sales | 0 buys, 0 sales |