Tencent Music Entertainment Group (Tencent Music Entertainment Group) Receivables Turnover : 2.35 (As of Mar. 2024)

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What is Tencent Music Entertainment Group Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Tencent Music Entertainment Group's Revenue for the three months ended in Mar. 2024 was $940 Mil. Tencent Music Entertainment Group's average Accounts Receivable for the three months ended in Mar. 2024 was $399 Mil. Hence, Tencent Music Entertainment Group's Receivables Turnover for the three months ended in Mar. 2024 was 2.35.

Tencent Music Entertainment Group Receivables Turnover Historical Data

The historical data trend for Tencent Music Entertainment Group's Receivables Turnover 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 Receivables Turnover Chart

Tencent Music Entertainment Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Receivables Turnover

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13.71

12.02

9.86

8.56

9.82

Tencent Music Entertainment Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Receivables Turnover	Get a 7-Day Free Trial															2.61	2.76	2.62	2.57	2.35

Competitive Comparison of Tencent Music Entertainment Group's Receivables Turnover

For the Internet Content & Information subindustry, Tencent Music Entertainment Group's Receivables Turnover, along with its competitors' market caps and Receivables Turnover data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Tencent Music Entertainment Group's Receivables Turnover Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Tencent Music Entertainment Group's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Tencent Music Entertainment Group's Receivables Turnover falls into.

Tencent Music Entertainment Group Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

Tencent Music Entertainment Group's Receivables Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Receivables Turnover (A: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Dec. 2023 )	/ (	(Accounts Receivable (A: Dec. 2022 )	+	Accounts Receivable (A: Dec. 2023 ))	/	count )
=	3886.726	/ (	(382.977	+	408.672)	/	2 )
=	3886.726	/	395.8245
=	9.82

Tencent Music Entertainment Group's Receivables Turnover for the quarter that ended in Mar. 2024 is calculated as

	Receivables Turnover (Q: Mar. 2024 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Mar. 2024 )	/ (	(Accounts Receivable (Q: Dec. 2023 )	+	Accounts Receivable (Q: Mar. 2024 ))	/	count )
=	939.804	/ (	(408.672	+	389.919)	/	2 )
=	939.804	/	399.2955
=	2.35

Tencent Music Entertainment Group (NYSE:TME) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Tencent Music Entertainment Group Receivables Turnover 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 » Receivables Turnover

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Traded in Other Exchanges

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.