` TME (Tencent Music Entertainment Group) vs SPOT (Spotify Technology SA) Comparison - Alpha Spread

TME
vs
SPOT

Over the past 12 months, TME has underperformed SPOT, delivering a return of +34% compared to the SPOT's +131% growth.

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TME
SPOT
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One-click summary across all key metrics.
Ranked results with clear takeaways.
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Valuation
Growth
Profitability
Solvency
Comparing Valuation
Running a multi-layered valuation analysis to compare how attractive each stock is.
Comparing Growth
Financial growth, forecasts, volatility, and historical drawdowns.
Comparing Profitability
Margins, returns on capital, and the consistency of profitability.
Comparing Solvency
Debt levels, liquidity, interest coverage, and bankruptcy risk.
Summarizing...
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Valuation Comparison

TME Intrinsic Value
13.53 USD
Overvaluation 30%
Intrinsic Value
Price
SPOT Intrinsic Value
303.12 USD
Overvaluation 58%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Tencent Music Entertainment Group
NYSE:TME
19.46 USD
Spotify Technology SA
NYSE:SPOT
725.05 USD
Valuation Scenario:
Bear Case
Base Case
Bull Case

Growth Comparison

Growth Over Time
TME vs SPOT

TME
SPOT
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Tencent Music Entertainment Group
Revenue
Spotify Technology SA
Revenue

All metrics are calculated based on data from the last 10 years.

Profitability Comparison

Free Cash Flow
TME vs SPOT

TME
SPOT
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Tencent Music Entertainment Group
NYSE:TME
Spotify Technology SA
NYSE:SPOT
What is Free Cash Flow?

Gross Margin

TME
43.1%
SPOT
31.1%

Operating Margin

TME
27%
SPOT
10.5%

Net Margin

TME
32.8%
SPOT
7.2%

FCF Margin

TME
34.9%
SPOT
16.1%

ROE

TME
15%
SPOT
24.4%

ROA

TME
11.2%
SPOT
10.7%

ROIC

TME
12.9%
SPOT
34.3%

ROCE

TME
11.1%
SPOT
28.8%

Solvency Comparison

Balance Sheet Comparison

Stocks Performance

Stocks Performance
TME vs SPOT

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Performance Gap
TME vs SPOT

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TME
SPOT
Difference
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Performance By Year
TME vs SPOT

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TME
SPOT
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