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Tencent HoldingsTCEHY +2.47%79 EV-to-OCF is 11.71 as of Sep. 21, 2026, which is 43% below its 10-year median of 20.52. GuruFocus rates TCEHY with a GF Score™ of 79/100 and a GF Value™ of $69.96 (Modestly Undervalued). Among 563 Interactive Media companies, Tencent Holdings ranks worse than 71.76% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Tencent Holdings's Enterprise Value is $511,861 Mil.
Tencent Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $43,714 Mil. Therefore, Tencent Holdings's EV-to-OCF for today is 11.71.
The historical rank and industry rank for Tencent Holdings's EV-to-OCF or its related term are showing as below:
TCEHY'
s EV-to-OCF Range Over the Past 10 Years
Min: 10.41 Med: 20.52 Max: 33.71
Current: 11.71
During the past 13 years, the highest EV-to-OCF of Tencent Holdings was 33.71. The lowest was 10.41. And the median was 20.52.
TCEHY's EV-to-OCF is ranked worse than 71.76% of 563
companies
in the Interactive Media industry
Industry Median: 3.65
vs TCEHY: 11.71
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Tencent Holdings's PE Ratio (TTM) for today is calculated as:
Tencent Holdings's share price for today is $55.23.
Tencent Holdings's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $3.638.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Tencent Holdings EV-to-OCF Related Terms
Tencent Holdings EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Tencent Holdings's EV-to-OCF 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.
For the Internet Content & Information subindustry, Tencent Holdings's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 Holdings EV-to-OCF vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Tencent Holdings's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Tencent Holdings's EV-to-OCF falls into.
Tencent Holdings's current Enterprise Value is $511,861 Mil.
Tencent Holdings's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $43,714 Mil.
* 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.
Tencent Holdings (TCEHY) has a EV-to-OCF of 11.71 as of Sep. 21, 2026. This is 43% below median its historical median of 20.52. Over the past decade, Tencent Holdings' EV-to-OCF has ranged from 10.41 to 33.71. According to the industry distribution chart, Tencent Holdings ranks #404 out of 563 companies in the Interactive Media industry, placing it in the top 71.8%.
Is Tencent Holdings' EV-to-OCF too high?
Tencent Holdings' current EV-to-OCF of 11.71 is 43% below median its 10-year median of 20.52. Over the past 10 years, this metric has ranged from a low of 10.41 to a high of 33.71. The Interactive Media industry median EV-to-OCF is 3.65. Tencent Holdings' value of 11.71 is 220.8% above this industry median. Based on the distribution chart, Tencent Holdings ranks #404 out of 563 companies in the Interactive Media industry, which is below the industry midpoint. Overall, Tencent Holdings has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tencent Holdings' EV-to-OCF compare to GOOGL and META?
According to the Interactive Media industry distribution chart, Tencent Holdings ranks #404 out of 563 companies for EV-to-OCF. This places Tencent Holdings in the lower half of its industry. The industry median EV-to-OCF is 3.65. Tencent Holdings' value of 11.71 is 220.8% above this benchmark. Historically, Tencent Holdings' own EV-to-OCF has ranged from 10.41 to 33.71 over the past decade. While the company's 10-year median is 20.52 vs. the industry median of 3.65, Tencent Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for an Interactive Media company?
The median EV-to-OCF among Interactive Media companies is 3.65, based on 563 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tencent Holdings's current EV-to-OCF of 11.71 is 220.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Interactive Media industry, the median EV-to-OCF is 3.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tencent Holdings's current EV-to-OCF is 11.71, which is 43% below median its own 10-year median of 20.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tencent Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tencent Holdings (TCEHY) is currently considered Modestly Undervalued. The stock's GF Value™ is $69.96, compared to a current price of $55.23 — trading 21.1% below its estimated fair value. The current EV-to-OCF is 11.71, which is 43% below median its 10-year median of 20.52 and 220.8% above the Interactive Media industry median of 3.65. Tencent Holdings' overall GF Score™ is 79/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Tencent Holdings (TCEHY), the current EV-to-OCF is 11.71 as of Sep. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tencent Holdings (TCEHY) Overvalued in 2026?
Based on GuruFocus' analysis, Tencent Holdings stock appears to be undervalued.
The current stock price of $55.23 is trading 21.1% below its estimated GF Value™ of $69.96.
GuruFocus considers Tencent Holdings to be Modestly Undervalued.
Key valuation signals for TCEHY:
EV-to-OCF: 11.71 (43% below median its 10-year median of 20.52)
GF Value™: $69.96 vs. price of $55.23 (21.1% below fair value)
Industry Position: 220.8% above the Interactive Media median (#404 of 563)
No single metric tells the full story. See the TCEHY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tencent is the world's largest game publisher, with top-grossing mobile hits like Honor of Kings and Peacekeeper Elite and a steady pipeline of new titles. It also operates WeChat-China's super-app with roughly 1.3 billion users-embedded in daily life for messaging, short video, mini programs, payments, and shopping. Beyond its own platforms, Tencent is a prolific strategic investor, holding stakes in leading internet companies such as PDD, Kuaishou, and Xiaohongshu.
79GF Score
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