Tencent Music Entertainment Group (Tencent Music Entertainment Group) Accounts Receivable : $409 Mil (As of Dec. 2023)

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What is Tencent Music Entertainment Group Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Tencent Music Entertainment Group's accounts receivables for the quarter that ended in Dec. 2023 was $409 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Tencent Music Entertainment Group's Days Sales Outstanding for the quarter that ended in Dec. 2023 was 38.63.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Tencent Music Entertainment Group's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $0.50.

Tencent Music Entertainment Group Accounts Receivable Historical Data

The historical data trend for Tencent Music Entertainment Group's Accounts Receivable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Tencent Music Entertainment Group Accounts Receivable Chart

Tencent Music Entertainment Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

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313.39

428.18

566.78

382.98

408.67

Tencent Music Entertainment Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Accounts Receivable	Get a 7-Day Free Trial															382.98	395.01	343.37	342.84	408.67

Tencent Music Entertainment Group Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Tencent Music Entertainment Group Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Tencent Music Entertainment Group's Days Sales Outstanding for the quarter that ended in Dec. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	408.672	/	965.379	*	91
=	38.63

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Tencent Music Entertainment Group's accounts receivable are only considered to be worth 75% of book value:

Tencent Music Entertainment Group's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(3296.966	+	0.75 * 408.672	+	0.5 * 1.12	-	2567.715
-	0	-	181.367)	/	1716.08
=	0.50

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Tencent Music Entertainment Group Accounts Receivable Related Terms

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Tencent Music Entertainment Group (Tencent Music Entertainment Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Interactive Media » Tencent Music Entertainment Group (NYSE:TME) » Definitions » Accounts Receivable

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01698:Hong Kong 0A2Z:UK 63TA:Germany

Address

Kexing Science Park, Kejizhongsan Avenue, Unit 3, Building D, Hi-Tech Park, Nanshan District, Shenzhen, CHN, 518057

Website

https://www.tencentmusic.com

TME is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing.