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Tencent Music Entertainment Group balance sheet

At the end of fiscal 2025, Tencent Music Entertainment Group had total assets of $14.66bn, total liabilities of $2.78bn and shareholders' equity of $11.48bn. It held $1.21bn in cash against $0 of debt: net cash of $1.21bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025
Cash and equivalents0.40.82.52.21.71.01.41.91.81.2
Inventory—0.00.00.00.00.00.00.00.00.0
Total current assets—1.13.03.94.94.23.94.24.74.6
Goodwill2.32.52.52.52.73.02.82.82.72.9
Total assets—4.66.57.610.510.69.710.612.414.7
Total current liabilities—0.50.91.21.51.61.71.72.32.1
Total debt0.00.00.00.00.80.80.80.8—0.0
Total liabilities—0.61.01.32.42.52.62.62.82.8
Shareholders' equity3.04.05.56.38.07.97.07.99.311.5
Non-controlling interests and other (assets − liabilities − equity)————————0.30.4
Net debt (negative = net cash)−0.4−0.8−2.5−2.2−0.9−0.2−0.6−1.1−1.8−1.2

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Tencent Music Entertainment Group's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Tencent Music Entertainment Group.