TVB Limited

TVB Limited

1.76
HKD
-0.04
(-2.49%)
1.43BMarket Cap
Mar 31Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
12.98
11.21
10.17
9.61
9.9
10.22
8.33
6.22
6.62
8.19
7.58
7.26
6.84
- -
Basic EPS, GAAP
3.97
3.22
3.04
1.14
0.56
-0.45
-0.67
-0.64
-1.48
-1.84
-1.74
-1.09
0.13
- -
Free Cash Flow per Basic Share
1.75
2.13
1.95
0.76
-0.92
-0.62
0.96
-0.32
-1.1
-1.09
-0.67
0.42
0.47
- -
Dividend per Share
2.6
2.6
4.9
2.6
0.9
1.3
1
0.2
- -
- -
- -
- -
- -
- -
Book Value per Share
18.98
19.46
17.54
16.13
15.97
14.12
12.45
11.7
9.95
7.99
6.28
4.85
5
5
Tangible Book Value per Share
18.43
19.05
17.34
15.87
15.65
13.68
12.01
11.2
9.11
7.21
5.6
4.5
4.7
4.7
Basic Weighted Avg Shares
438
438
438
438
438
438
438
438
438
438
438
449
467
467
Sales/Revenue/Turnover
5,686
4,912
4,455
4,210
4,336
4,477
3,649
2,724
2,899
3,586
3,323
3,258
3,192
- -
Operating Margin (%)
37.31
32.37
23.26
8.1
9.61
9.67
0.84
-11.69
-27.62
-19.92
-15.62
-0.47
3.84
- -
Depreciation Expense
283
317
300
338
388
421
430
396
413
427
373
289
224
- -
Net Income, GAAP
1,738
1,410
1,331
500
244
-199
-295
-281
-647
-807
-763
-491
59
- -
Effective Tax Rate (%)
16.9
14.91
113.85
19.03
26.37
- -
- -
- -
- -
- -
- -
- -
28.11
- -
Profit Margin (%)
30.57
28.7
29.88
11.87
5.62
-4.45
-8.08
-10.31
-22.31
-22.51
-22.96
-15.07
1.86
- -
Working Capital
4,657
5,314
5,622
8,533
7,265
3,855
3,265
3,834
1,243
2,298
2,037
1,763
1,706
1,706
LT Debt
- -
294
235
3,842
3,814
3,017
1,902
1,944
34
1,614
1,685
1,295
1,066
1,066
Total Equity
8,427
8,704
7,836
7,230
7,157
6,307
5,589
5,298
4,593
3,604
2,739
2,196
2,232
2,232
Return on Invested Capital (%)
21.79
15.08
-1.48
4.82
3.68
- -
- -
- -
- -
- -
- -
- -
2.03
- -
Return on Capital (%)
20.53
15.78
15.65
5.3
3
- -
- -
- -
- -
- -
- -
- -
4.17
- -
Return on Common Equity (%)
21.64
16.74
16.43
6.78
3.47
-3.02
-5.07
-5.31
-13.64
-20.54
-24.41
-19.58
2.58
- -

Capital Structure

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
870
1,041
1,065
LT Borrowings
1,278
1,284
1,060
LT Finance Leases
17
11
6
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
467
467
467
Market Capitalization
1,415
1,620
1,429

Working Capital

HKD

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
3,643
3,822
3,822
Cash, Cash Equivalents & STI
711
879
804
Accounts Receivable, Net
752
837
902
Inventories
16
18
14
Total Current Liabilities
1,880
2,076
2,117
Payables & Accruals
- -
- -
- -
ST Debt
870
1,041
1,065
Deferred Revenue
- -
- -
- -

Growth Rates

HKD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-11.42%
-15.4%
1.66%
Free Cash Flow
-64%
12.49%
17.51%
Net Income, GAAP
-25.02%
0.37%
-112.07%
Sales/Revenue/Turnover
-2.43%
3.76%
-2.02%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
3,323
2024
- -
- -
3,258
2025
- -
- -
3,192

Semi-annual Earnings Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
-1.74
2024
- -
- -
-1.09
2025
- -
- -
0.13

Semi-annual Dividends Per Share

HKD

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -

Company Description

CEO
To Hui
Full Time Employees
3,044
Sector
Consumer services
Industry
Broadcasting
Address
TVB City Hong Kong Hong Kong
IPO Date
Nov 23, 1988
Website
tvb.com
Business
Television Broadcasts Limited (TVBCF) is Hong Kong's leading television broadcaster and one of the world's largest producers of Chinese-language programming. Founded in 1965 and headquartered at TVB City in Tseung Kwan O Industrial Estate, Kowloon, Hong Kong, the company operates five free-to-air terrestrial channels including TVB Jade (its flagship Cantonese channel) and TVB Pearl (its main English service); provides over-the-top (OTT) streaming via myTV SUPER and TVB Anywhere offering dozens of channels; produces and distributes dramas, variety shows, news, and music entertainment; runs e-commerce platforms such as Ztore, Neigbuy, and Big Big Shop; licenses programmes and channels internationally; and engages in Mainland China operations through co-productions and distribution to telecast, video, and media operators, as well as international operations in markets including Malaysia, Singapore, and over 200 countries reaching 200 million users. Its business segments encompass Hong Kong TV broadcasting with advertising and programme production; OTT streaming and portal websites; e-commerce; Mainland China co-productions; programme licensing and distribution including channel operations; and other activities such as artistes management, film production, property investment, digital new media trading, music sales, and satellite/subscription television services. In June 2025, Television Broadcasts signed a memorandum of understanding with five corporations—Tencent Music Entertainment Group, Tencent Penguin Pictures, Shenzhen Media Group, Huawei Hong Kong, and iFlytek—to deepen strategic collaboration in the Greater Bay Area across content creation, technology development, and platform operations, including co-production of series like "The Smiling, Proud Wanderer," AI-enhanced Cantonese language models, music-film integrations such as a "Hong Kong Drama" section and annual Cantonese music chart, and prime-time drama airings on Mainland satellite TV under the updated CEPA agreement; additionally, in May 2025, Executive Chairman Thomas Hui acquired shares in ultimate parent Young Lion Holdings (an indirect Shaw Brothers holding company owning 25.02% of TVB) from non-executive director Kenneth Hsu to consolidate ownership. The company targets audiences in Hong Kong, Mainland China (with branches in Guangzhou, Macau, and Shenzhen), and global markets through traditional TV, OTT, smart TVs, and social media, while optimizing signal transmission in Guangdong Province and leveraging AI for production efficiency gains exceeding 50%.

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