Tencent Holdings Limited (TCEHY) EBITDA Margin: 41.31%
Is Tencent Holdings Limited’s EBITDA margin high or low?
Tencent Holdings Limited's EBITDA margin of 41.31% is in line with its 5-year average of 39.33%, around the middle of its 5-year range (24.22%–56.00%).
The EBITDA margin for Tencent Holdings Limited (TCEHY) is 41.31% as of Thursday, June 11, 2026. It is above its 12-month average by 8.48% (38.08%).
TCEHY EBITDA Margin Chart
TCEHY Average EBITDA Margin Chart
TCEHY Current vs Average EBITDA Margin Chart
TCEHY EBITDA Margin Metrics
EBITDA MARGIN
41.31%
EBITDA MARGIN AVG TTM
38.08%
EBITDA MARGIN AVG 3Y
32.65%
EBITDA MARGIN AVG 5Y
39.33%
EBITDA MARGIN AVG 10Y
40.49%
EBITDA MARGIN AVG 15Y
41.17%
EBITDA MARGIN AVG 20Y
42.23%
CURRENT VS TTM AVG
+8.48%
CURRENT VS 3Y AVG
+26.54%
CURRENT VS 5Y AVG
+5.03%
CURRENT VS 10Y AVG
+2.04%
CURRENT VS 15Y AVG
+0.34%
CURRENT VS 20Y AVG
-2.17%
TCEHY Competitors' EBITDA Margin
| NAME | MARKET CAP | EBITDA MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Tencent Holdings Limited (TCEHY) | $535.26B | 41.31% | 38.08% | 32.65% | 39.33% |
| Netflix, Inc. (NFLX) | $345.29B | 66.96% | 67.22% | 65.63% | 64.78% |
| T-Mobile US, Inc. (TMUS) | $200.66B | 36.52% | 37.33% | 33.64% | 32.19% |
| Verizon Communications Inc. (VZ) | $195.94B | 34.53% | 34.89% | 33.88% | 34.56% |
| The Walt Disney Company (DIS) | $171.20B | 20.27% | 18.14% | 16.10% | 14.28% |
| AT&T Inc. (T) | $161.17B | 43.53% | 39.76% | 33.50% | 32.27% |
| Spotify Technology S.A. (SPOT) | $103.45B | 13.71% | 11.64% | 4.90% | 2.83% |
| Comcast Corporation (CMCSA) | $85.63B | 37.50% | 33.95% | 30.53% | 30.79% |
| Electronic Arts Inc. (EA) | $50.95B | 16.31% | 21.68% | 24.09% | 23.61% |
| Reddit, Inc. (RDDT) | $33.69B | 20.79% | -10.56% | -15.37% | -18.68% |
Margin Comparison
Gross Margin
55.4%
EBITDA Margin
41.3%
Operating Margin
32.3%
Net Margin
30.6%
Formula: EBITDA Margin = (EBITDA / Revenue) × 100
Why EBITDA Margin matters:
- Removes effects of depreciation policies (D&A)
- Capital structure neutral (ignores interest)
- Tax neutral (ignores tax differences)
- Good proxy for operating cash generation
Tencent Holdings Limited EBITDA Margin Formula & Definition
EBITDA Margin = EBITDA / Revenue
EBITDA margin measures operating profitability before interest, taxes, depreciation, and amortization as a percentage of revenue.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Tencent Holdings Limited EBITDA Margin FAQ
- What is the EBITDA margin for Tencent Holdings Limited (TCEHY)?
- The EBITDA margin for TCEHY stock is 41.31%.
- Is Tencent Holdings Limited's EBITDA margin high or low?
- Tencent Holdings Limited's EBITDA margin of 41.31% is in line with its 5-year average of 39.33%, around the middle of its 5-year range (24.22%–56.00%).
- What is the TTM average EBITDA margin for Tencent Holdings Limited (TCEHY)?
- The TTM average EBITDA margin for TCEHY stock is 38.08%.
- What is the 3Y average EBITDA margin for Tencent Holdings Limited (TCEHY)?
- The 3Y average EBITDA margin for TCEHY stock is 32.65%.
- What is the 5Y average EBITDA margin for Tencent Holdings Limited (TCEHY)?
- The 5Y average EBITDA margin for TCEHY stock is 39.33%.
- What is the 10Y average EBITDA margin for Tencent Holdings Limited (TCEHY)?
- The 10Y average EBITDA margin for TCEHY stock is 40.49%.
- What is the 15Y average EBITDA margin for Tencent Holdings Limited (TCEHY)?
- The 15Y average EBITDA margin for TCEHY stock is 41.17%.
- What is the 20Y average EBITDA margin for Tencent Holdings Limited (TCEHY)?
- The 20Y average EBITDA margin for TCEHY stock is 42.23%.
Tencent Holdings Limited EBITDA Margin History
| DATE | EBITDA MARGIN |
|---|---|
| 2025-12-31 | 41.31% |
| 2024-12-31 | 34.85% |
| 2023-12-31 | 30.20% |
| 2022-12-31 | 24.22% |
| 2021-12-31 | 56.00% |
| 2020-12-31 | 49.42% |
| 2019-12-31 | 42.88% |
| 2018-12-31 | 42.73% |
| 2017-12-31 | 48.32% |
| 2016-12-31 | 36.20% |
| 2015-12-31 | 39.21% |
| 2014-12-31 | 37.20% |
| 2013-12-31 | 32.90% |
| 2012-12-31 | 41.01% |
| 2011-12-31 | 49.52% |
| 2010-12-31 | 52.76% |
| 2009-12-31 | 52.83% |
| 2008-12-31 | 50.40% |
| 2007-12-31 | 45.24% |
| 2006-12-31 | 44.87% |
| 2005-12-31 | 34.66% |
| 2004-12-31 | 40.99% |
| 2003-12-31 | 45.74% |
Related Metrics
About Tencent Holdings Limited
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. The company's diverse business operations are structured into several key segments: Value-Added Services (VAS), Online Advertising, FinTech and Business Services, and other various ventures. Tencent's offerings encompass popular online games, extensive social networking platforms, cutting-edge FinTech and cloud computing solutions, and comprehensive digital advertising services. Beyond these core areas, the company is also actively involved in the production, investment, and distribution of films and television programs for external clients, alongside managing copyright licensing, merchandise sales, and related activities. Further expanding its technological and entertainment footprint, Tencent develops proprietary software, operates its significant online gaming portfolio, and delivers services in information technology, system integration, and asset management. Its cultural ventures extend to online literature and digital music entertainment platforms. Established in 1998, Tencent Holdings maintains its headquarters in Shenzhen, People's Republic of China.
- Sector
- Communication Services
- Industry
- Internet Content & Information
- CEO
- Huateng Ma