Side by sideTencent (0700.HK) and Meituan (3690.HK)Memos of October 10, 2026 and October 15, 2026
Tencent vs Meituan stock: the numbers side by side (October 2026)
How do Tencent and Meituan compare?
| Tencent 0700.HK | Meituan 3690.HK | |
|---|---|---|
| Revenue growth | 13.9%Year to Dec 2025 | 8.1%2025 |
| Operating margin | 32.1%Year to Dec 2025 | -6.9%2025 |
| Free cash flow | 170,208RMB millions; per share in RMB; shares in millions · Year to Dec 2025 | -31,701.735RMB millions · 2025 |
| Free cash flow yield | 5.5%Today (Oct 9, 2026) | -8.0%Today (Oct 15, 2026) |
| Dividend yield | 1.2%Today (Oct 9, 2026) | 0.0%Today (Oct 15, 2026) |
| P/E, last 12 months | 14.2xToday (Oct 9, 2026) | not meaningfulToday (Oct 15, 2026) |
| P/E, next 12 months | 11.8xToday (Oct 9, 2026) | 16.9xToday (Oct 15, 2026) |
| Weighted price forecast, about 1 year | 433.24 (+4 %)October 2027 | 86.09 (+14 %)October 2027 |
| Weighted price forecast, about 3 years | 575.73 (+41 %)October 2029 | 106.34 (+41 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | Tencent | The higher figure |
| 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 | — | The lower figure |
| P/E, next 12 months | Tencent | The lower figure |
| Weighted price forecast, about 1 year | Meituan | The higher weighted return |
| Weighted price forecast, about 3 years | — | 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
Meituan connects consumers with nearby restaurants, shops and local services.
Meituan (3690.HK), from our memo of October 15, 2026 · Meituan stock forecast
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