Tencent Music Entertainment GroupMEX:TMEN -4.08%78 Net Current Asset Value is MXN15.46 as of Mar. 2026, which is 100% below its 10-year median of 10.65. GuruFocus rates MEX:TMEN with a GF Score™ of 78/100 and a GF Value™ of MXN270.92 (Significantly Undervalued). Among 364 Interactive Media companies, Tencent Music Entertainment Group ranks worse than 78.3% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
The historical rank and industry rank for Tencent Music Entertainment Group's Net Current Asset Value or its related term are showing as below:
MEX:TMEN'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.61 Med: 10.65 Max: 32.87
Current: 9.51
During the past 10 years, the highest Price-to-Net-Current-Asset-Value Ratio of Tencent Music Entertainment Group was 32.87. The lowest was 6.61. And the median was 10.65.
MEX:TMEN's Price-to-Net-Current-Asset-Value is ranked worse than 78.3% of 364
companies
in the Interactive Media industry
Industry Median: 3.69
vs MEX:TMEN: 9.51
Tencent Music Entertainment Group (MEX:TMEN) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Tencent Music Entertainment Group Net Current Asset Value Related Terms
Tencent Music Entertainment Group Net Current Asset Value Historical Data
* 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 Music Entertainment Group Net Current Asset Value Chart
MEX:TMEN vs PINS, SNAP, MTCH: Net Current Asset Value Comparison
For the Internet Content & Information subindustry, Tencent Music Entertainment Group's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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 Price-to-Net-Current-Asset-Value vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Tencent Music Entertainment Group's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Tencent Music Entertainment Group's Price-to-Net-Current-Asset-Value falls into.
* 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.
What does a Net Current Asset Value of MXN15.46 mean?
Tencent Music Entertainment Group (MEX:TMEN) has a Net Current Asset Value of MXN15.46 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Tencent Music Entertainment Group and its competitors. This is 45% above median its historical median of 10.65. Over the past decade, Tencent Music Entertainment Group's Net Current Asset Value has ranged from 6.61 to 32.87. According to the industry distribution chart, Tencent Music Entertainment Group ranks #285 out of 364 companies in the Interactive Media industry, placing it in the top 78.3%.
Is Tencent Music Entertainment Group's Net Current Asset Value too high?
Tencent Music Entertainment Group's current Net Current Asset Value of MXN15.46 is 45% above median its 10-year median of 10.65. Over the past 10 years, this metric has ranged from a low of 6.61 to a high of 32.87. Based on the distribution chart, Tencent Music Entertainment Group ranks #285 out of 364 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Tencent Music Entertainment Group has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tencent Music Entertainment Group's Net Current Asset Value compare to PINS and SNAP?
According to the Interactive Media industry distribution chart, Tencent Music Entertainment Group ranks #285 out of 364 companies for Net Current Asset Value. This places Tencent Music Entertainment Group in the lower half of its industry. The industry median Net Current Asset Value is 3.69. Historically, Tencent Music Entertainment Group's own Net Current Asset Value has ranged from 6.61 to 32.87 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for an Interactive Media company?
The median Net Current Asset Value among Interactive Media companies is 3.69, based on 364 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Tencent Music Entertainment Group and its competitors. For the Interactive Media industry, the median Net Current Asset Value is 3.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tencent Music Entertainment Group's current Net Current Asset Value is MXN15.46, which is 45% above median its own 10-year median of 10.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tencent Music Entertainment Group stock overvalued right now?
Based on GuruFocus' analysis, Tencent Music Entertainment Group (MEX:TMEN) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN270.92, compared to a current price of MXN145.80 — trading 46.2% below its estimated fair value. The current Net Current Asset Value is MXN15.46, which is 45% above median its 10-year median of 10.65. Tencent Music Entertainment Group's overall GF Score™ is 78/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Tencent Music Entertainment Group (MEX:TMEN), the current Net Current Asset Value is MXN15.46 as of Mar. 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 Music Entertainment Group (MEX:TMEN) Overvalued in 2026?
Based on GuruFocus' analysis, Tencent Music Entertainment Group stock appears to be undervalued.
The current stock price of MXN145.80 is trading 46.2% below its estimated GF Value™ of MXN270.92.
GuruFocus considers Tencent Music Entertainment Group to be Significantly Undervalued.
Key valuation signals for MEX:TMEN:
Net Current Asset Value: MXN15.46 (45% above median its 10-year median of 10.65)
GF Value™: MXN270.92 vs. price of MXN145.80 (46.2% below fair value)
No single metric tells the full story. See the MEX:TMEN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tencent Music Entertainment Group Business Description
Tencent Music is the largest online music streaming platform in China, established in 2016 through the merger of QQ Music, Kuwo Music, and Kugou Music. Tencent, its largest shareholder, holds over 50% of the shares and more than 90% of the voting rights. Beyond streaming services, Tencent Music generates revenue through a diverse range of offerings, including podcasts, livestreaming, concerts, and karaoke.
78GF Score
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