Tencent Holdings Limited (TCEHY) FCF Payout Ratio: 23.47%
Is Tencent Holdings Limited’s FCF payout ratio high or low?
Tencent Holdings Limited's FCF payout ratio of 23.47% is 71% above its 5-year average of 13.72%, near the high end of its 5-year range (8.11%–23.47%).
25.17% above its 12-month average of 18.75%.
TCEHY FCF Payout Ratio Chart
TCEHY Average FCF Payout Ratio Chart
TCEHY Current vs Average FCF Payout Ratio Chart
TCEHY FCF Payout Ratio Metrics
FCF PAYOUT RATIO
23.47%
FCF PAYOUT RATIO AVG TTM
18.75%
FCF PAYOUT RATIO AVG 3Y
15.78%
FCF PAYOUT RATIO AVG 5Y
13.72%
FCF PAYOUT RATIO AVG 10Y
11.56%
FCF PAYOUT RATIO AVG 15Y
10.35%
FCF PAYOUT RATIO AVG 20Y
11.61%
CURRENT VS TTM AVG
+25.17%
CURRENT VS 3Y AVG
+48.73%
CURRENT VS 5Y AVG
+71.13%
CURRENT VS 10Y AVG
+102.97%
CURRENT VS 15Y AVG
+126.71%
CURRENT VS 20Y AVG
+102.24%
Payout Ratio Comparison
FCF Payout Ratio
23.5%
Earnings Payout Ratio
19.6%
Dividend Yield
1.14%
FCF Yield
4.77%
Annual FCF Payout Ratio History
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $27.19B | $5.37B | 19.7% |
| 2024 | $22.25B | $3.95B | 17.8% |
| 2023 | $24.59B | $2.96B | 12.0% |
| 2022 | $13.80B | $1.88B | 13.6% |
| 2021 | $17.79B | $1.97B | 11.1% |
| 2020 | $19.54B | $1.58B | 8.1% |
| 2019 | $13.15B | $1.19B | 9.1% |
| 2018 | $7.62B | $985.23M | 12.9% |
| 2017 | $11.39B | $775.99M | 6.8% |
| 2016 | $6.73B | $532.66M | 7.9% |
| 2015 | $4.98B | $406.56M | 8.2% |
| 2014 | $4.20B | $283.87M | 6.8% |
| 2013 | $3.02B | $242.37M | 8.0% |
| 2012 | $2.34B | $177.71M | 7.6% |
| 2011 | $1.35B | $133.04M | 9.8% |
| 2010 | $1.56B | $96.98M | 6.2% |
| 2009 | $1.11B | $81.19M | 7.3% |
| 2008 | $317.59M | $37.64M | 11.9% |
| 2007 | $101.54M | $28.67M | 28.2% |
| 2006 | $148.75M | $18.65M | 12.5% |
| 2005 | $90.40M | $16.38M | 18.1% |
| 2004 | ($36.06M) | $3.48M | N/A (Loss) |
| 2003 | $35.44M | $1.25M | 3.5% |
Formula: FCF Payout Ratio = Dividends Paid / Free Cash Flow × 100
FCF payout and earnings payout:
- FCF represents operating cash flow after capital expenditures
- FCF payout compares dividends paid with free cash flow
- FCF payout above 100% means dividends paid exceeded free cash flow for the period
- Earnings payout compares dividends paid with net income
Reading the series: Use the chart and table to compare dividend payments with cash generation over time.
Tencent Holdings Limited FCF Payout Ratio Formula & Definition
FCF Payout Ratio measures what percentage of free cash flow is paid out as dividends. Unlike earnings-based payout, it compares dividends with cash generated after capital expenditures.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Tencent Holdings Limited FCF Payout Ratio FAQ
- What is the FCF payout ratio for Tencent Holdings Limited (TCEHY)?
- The FCF payout ratio for TCEHY stock is 23.47%.
- Is Tencent Holdings Limited's FCF payout ratio high or low?
- Tencent Holdings Limited's FCF payout ratio of 23.47% is 71% above its 5-year average of 13.72%, near the high end of its 5-year range (8.11%–23.47%).
- What is the TTM average FCF payout ratio for Tencent Holdings Limited (TCEHY)?
- The TTM average FCF payout ratio for TCEHY stock is 18.75%.
- What is the 3Y average FCF payout ratio for Tencent Holdings Limited (TCEHY)?
- The 3Y average FCF payout ratio for TCEHY stock is 15.78%.
- What is the 5Y average FCF payout ratio for Tencent Holdings Limited (TCEHY)?
- The 5Y average FCF payout ratio for TCEHY stock is 13.72%.
- What is the 10Y average FCF payout ratio for Tencent Holdings Limited (TCEHY)?
- The 10Y average FCF payout ratio for TCEHY stock is 11.56%.
- What is the 15Y average FCF payout ratio for Tencent Holdings Limited (TCEHY)?
- The 15Y average FCF payout ratio for TCEHY stock is 10.35%.
- What is the 20Y average FCF payout ratio for Tencent Holdings Limited (TCEHY)?
- The 20Y average FCF payout ratio for TCEHY stock is 11.61%.
Tencent Holdings Limited FCF Payout Ratio History
| DATE | FCF PAYOUT RATIO |
|---|---|
| 2025-12-31 | 19.74% |
| 2024-12-31 | 17.76% |
| 2023-12-31 | 12.02% |
| 2022-12-31 | 13.60% |
| 2021-12-31 | 11.06% |
| 2020-12-31 | 8.11% |
| 2019-12-31 | 9.08% |
| 2018-12-31 | 12.94% |
| 2017-12-31 | 6.81% |
| 2016-12-31 | 7.91% |
| 2015-12-31 | 8.17% |
| 2014-12-31 | 6.75% |
| 2013-12-31 | 8.02% |
| 2012-12-31 | 7.59% |
| 2011-12-31 | 9.84% |
| 2010-12-31 | 6.23% |
| 2009-12-31 | 7.32% |
| 2008-12-31 | 11.85% |
| 2007-12-31 | 28.24% |
| 2006-12-31 | 12.54% |
| 2005-12-31 | 18.12% |
| 2003-12-31 | 3.53% |
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