Spotify Technology S.A. (SPOT) vs Tencent Holdings Limited (TCEHY)
TCEHY leads on 7 of 13 compared metrics.
A side-by-side comparison of Spotify Technology S.A. and Tencent Holdings Limited across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 14, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).
SPOT
Spotify Technology S.A.
$482.00Communication Services
TCEHY
Tencent Holdings Limited
$59.06Communication Services
Total return — SPOT vs TCEHY
growth of $100 · last 8ySPOT +223.5%TCEHY +13.1%SPOT compounded faster
SPOT TCEHY
SPOT vs TCEHY: by the numbers
- •TCEHY is the larger company ($533.13B vs $99.11B market cap).
- •TCEHY trades at the lower earnings multiple (16.48 vs 38.40 P/E).
- •TCEHY converts more revenue to profit (30.60% vs 15.43% net margin).
- •SPOT grew revenue faster over the past five years (16.40% vs 7.40% CAGR).
- •TCEHY pays a dividend (1.14% yield) while SPOT does not currently pay one.
Which is better, SPOT or TCEHY?
Metric tally: SPOT 6 · TCEHY 7It depends on what you're optimizing for:
ValueTCEHY(lower P/E)
GrowthSPOT(faster 5Y revenue CAGR)
QualitySPOT(higher ROIC)
Valuation
| Metric | SPOT | TCEHY |
|---|---|---|
| P/E ratio | 38.40 | 16.48● |
| Forward P/E | 30.56 | — |
| P/S ratio | 4.92 | 5.00 |
| P/B ratio | 10.89 | 3.33● |
| PEG ratio | 0.51● | 1.50 |
| EV / EBITDA | 27.54 | 12.31● |
| FCF yield | 3.69% | 4.78%● |
Profitability
| Metric | SPOT | TCEHY |
|---|---|---|
| Gross margin | 32.31% | 55.36%● |
| Operating margin | 13.70% | 32.33%● |
| Net margin | 15.43% | 30.60%● |
| ROE | 34.17%● | 20.37% |
| ROIC | 21.05%● | 11.71% |
Dividends
| Metric | SPOT | TCEHY |
|---|---|---|
| Dividend yield | — | 1.14% |
| Payout ratio | — | 19.63% |
Growth (annualized)
| Metric | SPOT | TCEHY |
|---|---|---|
| Revenue CAGR (5Y) | 16.40%● | 7.40% |
| EPS CAGR (5Y) | — | 5.91% |
| FCF CAGR (5Y) | 66.97%● | 2.70% |
| Total return CAGR (5Y) | 14.61%● | -3.77% |
Frequently asked
- Which is better, SPOT or TCEHY?
- It depends on your goal. value: TCEHY (lower P/E); growth: SPOT (faster 5Y revenue CAGR); quality: SPOT (higher ROIC). Across all compared metrics, TCEHY leads 7 to 6.
- Is SPOT or TCEHY cheaper?
- On trailing earnings, TCEHY is cheaper: SPOT trades at a 38.40 P/E and TCEHY at 16.48.
- Which has grown faster, SPOT or TCEHY?
- Over the past five years, SPOT grew revenue faster — SPOT at a 16.40% CAGR versus TCEHY at 7.40%.
- Does SPOT or TCEHY pay a bigger dividend?
- TCEHY pays a dividend (1.14% yield) while SPOT does not currently pay one.
- Is SPOT or TCEHY more profitable?
- TCEHY runs the higher net margin — SPOT at 15.43% versus TCEHY at 30.60%.
- Which has been the better investment, SPOT or TCEHY?
- Over the past 5-year, SPOT delivered the higher annualized total return — SPOT at 14.61% versus TCEHY at 11.18%. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Spotify Technology P/E ratioTencent P/E ratioSpotify Technology dividend yieldTencent dividend yieldSpotify Technology ROETencent ROESpotify Technology operating marginTencent operating marginSpotify Technology revenue growthTencent revenue growthSpotify Technology free cash flowTencent free cash flow
Spotify Technology & Tencent appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 14, 2026.