Side by sideTencent (0700.HK) and Alibaba (9988.HK)Memos of October 10, 2026 and October 12, 2026
Tencent vs Alibaba stock: the numbers side by side (October 2026)
How do Tencent and Alibaba compare?
| Tencent 0700.HK | Alibaba 9988.HK | |
|---|---|---|
| Operating margin | 32.1%Year to Dec 2025 | 4.9%Mar 2026 |
| Free cash flow | 170,208RMB millions; per share in RMB; shares in millions · Year to Dec 2025 | -50,724RMB millions · Mar 2026 |
| Free cash flow yield | 5.5%Today (Oct 9, 2026) | -2.8%Today (Oct 12, 2026) |
| Dividend yield | 1.2%Today (Oct 9, 2026) | 1.0%Today (Oct 12, 2026) |
| P/E, last 12 months | 14.2xToday (Oct 9, 2026) | 25.70xToday (Oct 12, 2026) |
| P/E, next 12 months | 11.8xToday (Oct 9, 2026) | 12.07xToday (Oct 12, 2026) |
| Weighted price forecast, about 1 year | 433.24 (+4 %)October 2027 | 98.99 (-8 %)October 2027 |
| Weighted price forecast, about 3 years | 575.73 (+41 %)October 2029 | 146.52 (+38 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Operating margin | Tencent | The higher figure |
| Free cash flow | — | The higher figure |
| Free cash flow yield | Tencent | The higher figure |
| Dividend yield | Tencent | The higher figure |
| P/E, last 12 months | Tencent | The lower figure |
| P/E, next 12 months | Tencent | The lower figure |
| Weighted price forecast, about 1 year | Tencent | The higher weighted return |
| Weighted price forecast, about 3 years | Tencent | The higher weighted return |
What does each company do?
Tencent Holdings Limited sells games, digital content, advertising, payments and business technology to consumers, advertisers, merchants and organizations.
Tencent (0700.HK), from our memo of October 10, 2026 · Tencent stock forecast
Alibaba connects shoppers with merchants through Taobao and Tmall, and serves businesses through cloud, AI and logistics.
Alibaba (9988.HK), from our memo of October 12, 2026 · Alibaba stock forecast
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