Tencent Holdings Limited (TCEHY) Stock Analysis
Over the past 10 years, Tencent (TCEHY) earnings per share (EPS) grew 22.7% a year, revenue grew 21.7% a year and free cash flow grew 19.4% a year, with an average return on invested capital (ROIC) of 13.7%. TCEHY stock trades at $50.34, a P/E of 12.5, below its historical average of 17.4. The one current analyst price target is $106.00 (+110.6%).
Tencent Holdings Limited is an investment holding company that specializes in providing a wide array of value-added services (VAS) and online advertising solutions, operating both within Mainland China and across international markets.
This is an ADR — information may be inaccurate and outdated.
Exhibit A Growth Dossier
| Metric | 10yr | 5yr | 1yr | Grade |
|---|---|---|---|---|
| Book Value/Share GrowthBV/S | 25.7% | 11.4% | 3.0% | A- |
| EPS GrowthEPS | 22.7% | 7.4% | 14.4% | A- |
| Revenue GrowthRevenue | 21.7% | 8.7% | 11.2% | A- |
| Cash Flow GrowthCash Flow | 19.4% | 8.3% | -4.4% | C+ |
| ROICROIC | 13.7% | 12.2% | 11.7% | A- |
Exhibit B Valuation Ledger
- Current EPS
- $4.04
- Historical Avg P/E
- 17.4
- Future P/E (used for sticker price)
- Projected EPS (10yr)
- Sticker Price (10yr)
- Price for 15% Annual Return
- Expected Annual Return
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Not investment advice — a structured read of historical fundamentals, not a forecast or recommendation. Always do your own research.
Exhibit C Raw Data (last 10 years)
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / ShareBV/S | $1.91 | $2.76 | $4.02 | $5.07 | $6.75 | $10.93 | $12.46 | $11.15 | $12.61 | $15.50 | $18.72 | $18.60 | |
| Basic EPSEPS | $0.46 | $0.66 | $1.14 | $1.25 | $1.48 | $2.52 | $3.54 | $2.96 | $1.83 | $3.14 | $3.60 | $4.04 | |
| RevenueRevenue | $15,409,906,030 | $22,761,831,780 | $35,618,825,600 | $46,844,688,140 | $56,521,665,090 | $72,218,007,840 | $83,911,277,580 | $83,077,435,120 | $91,236,537,150 | $98,913,101,170 | $109,553,695,140 | $117,305,122,963 | |
| Free Cash FlowCash Flow | $4,842,758,060 | $7,005,714,840 | $11,106,314,160 | $7,847,347,420 | $13,722,895,620 | $19,103,771,200 | $16,931,676,010 | $14,268,054,210 | $26,150,084,550 | $24,340,080,130 | $28,489,517,510 | $26,846,551,240 | |
| ROIC (%)ROIC | 16.5% | 14.5% | 17.5% | 14.7% | 13.9% | 15.1% | 20.2% | 8.5% | 9.1% | 11.7% | 11.7% | — |
The exact underlying data used to compute the growth rates and grades above. The highlighted TTM column is the trailing twelve months through the most recently reported quarter.
Ticker INVESTigator Price Target
Analyst Data
Price Target
Where the stock trades today vs. the range of 12-month price targets from covering analysts.
1 price target (Barclays) — not a consensus range · 3 firms rate it — 3 buy · Most recent May 2026
TCEHY Stock FAQ
What is TCEHY's stock price target?
There is one analyst price target for TCEHY from Barclays: $106.00, +110.6% from the current price of $50.34.
Do analysts rate TCEHY a buy?
Most rate it a buy. Of 3 firms covering Tencent, the ratings are 3 buy or strong buy, 0 hold and 0 sell or strong sell.
How fast is Tencent growing?
Annual growth rates for TCEHY. EPS: 22.7% over 10 years, 7.4% over 5 years, 14.4% over 1 year. Revenue: 21.7% over 10 years, 8.7% over 5 years, 11.2% over 1 year. Free cash flow: 19.4% over 10 years, 8.3% over 5 years, -4.4% over 1 year. Book value per share: 25.7% over 10 years, 11.4% over 5 years, 3.0% over 1 year.
What is TCEHY's ROIC?
Tencent's return on invested capital (ROIC) was 11.7% in fiscal 2025. Its 10-year average ROIC is 13.7%. ROIC above 10% is generally a sign of a business with a durable competitive advantage.
What is TCEHY's P/E ratio?
TCEHY's current P/E ratio is 12.5, compared with a historical average of 17.4. Trailing earnings per share are $4.04.
What is Tencent's market cap and stock price?
TCEHY last traded at $50.34 as of October 21, 2026. Its 52-week range is $50.09 to $86.00. Tencent has a market cap of $461.62B.
Exhibit D Related Coverage
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Data as of October 21, 2026. Findings are derived from historical fundamentals — not a forecast, not advice. Cross-examine before you invest.
Grades are produced by Ticker INVESTigator's own model from public financial data and are for informational and educational purposes only. They are not investment advice or a recommendation to buy or sell any security. Do your own research.