ï€ Tencent Holdings Limited (0700:HKG) currently trades above corporate averages relative to UAFRS-based (Uniform) Earnings, with a 28.5x Uniform P/E. These aggressive valuations appear driven by the firm's continued Uniform ROA expansion, and expectations for the firm to execute on material growth opportunities
ï€ Specifically, Tencent has seen robust Uniform ROA growth in recent years, from already incredibly strong levels, while continuing to grow its Uniform Asset base. Moreover, the firm boasts robust “cash-cow” businesses related to its social media and gaming platforms, as well as material growth opportunities in its music, cloud, and payment business
Tencent Holdings Limited is an investment holding company principally involved in the provision of value-added services (VAS) and online advertising services. The Company operates through three main segments. The VAS segment is mainly involved in provision of online/mobile games, community value-added services and applications across various Internet and mobile platforms. The Online Advertising segment is mainly engaged in display based and performance based advertisements. The Others segment is mainly involved in provision of payment related services, cloud services and other services.
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