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  • Tencent Music Entertainment Group (NYSE:TME) shareholders have earned a 81% CAGR over the last three years

    Tencent Music Entertainment Group (NYSE:TME) shareholders have earned a 81% CAGR over the last three years

    Tencent Music Entertainment Group (NYSE:TME) shareholders might be concerned after seeing the share price drop 15% in the last month. But that doesn’t change the fact that the returns over the last three years have been spectacular. In fact, the share price has taken off in that time, up 484%. As long term investors the recent fall doesn’t detract all that much from the longer term story. The only way to form a view of whether the current price is justified is to consider the merits of the business itself.

    With that in mind, it’s worth seeing if the company’s underlying fundamentals have been the driver of long term performance, or if there are some discrepancies.

    We’ve found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.

    To quote Buffett, ‘Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace…’ One way to examine how market sentiment has changed over time is to look at the interaction between a company’s share price and its earnings per share (EPS).

    Tencent Music Entertainment Group was able to grow its EPS at 57% per year over three years, sending the share price higher. In comparison, the 80% per year gain in the share price outpaces the EPS growth. This indicates that the market is feeling more optimistic on the stock, after the last few years of progress. It’s not unusual to see the market ‘re-rate’ a stock, after a few years of growth.

    The company’s earnings per share (over time) is depicted in the image below (click to see the exact numbers).

    NYSE:TME Earnings Per Share Growth October 19th 2025

    It is of course excellent to see how Tencent Music Entertainment Group has grown profits over the years, but the future is more important for shareholders. This free interactive report on Tencent Music Entertainment Group’s balance sheet strength is a great place to start, if you want to investigate the stock further.

    When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It’s fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Tencent Music Entertainment Group, it has a TSR of 496% for the last 3 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!

    We’re pleased to report that Tencent Music Entertainment Group shareholders have received a total shareholder return of 91% over one year. That’s including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 9% per year), it would seem that the stock’s performance has improved in recent times. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. Before deciding if you like the current share price, check how Tencent Music Entertainment Group scores on these 3 valuation metrics.

    But note: Tencent Music Entertainment Group may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).

    Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.

    Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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  • Watch comets Lemmon and SWAN make their closest approach to Earth live online on Oct. 20

    Watch comets Lemmon and SWAN make their closest approach to Earth live online on Oct. 20

    Comets C/2025 A6 Lemmon & C/2025 R2 SWAN at their closest approach to Earth – online observation – YouTube


    Watch On

    Two comets, C/2025 A4 (Lemmon) and C/2025 R2 (SWAN), are about to reach their closest approach to Earth and you can…

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  • Last Ebola patient in Democratic Republic of the Congo discharged | WHO

    Bulape – The last Ebola patient in the Democratic Republic of the Congo was discharged today, marking an important milestone in the efforts to end the outbreak. The recovery kicks off a 42-day countdown to declaring the outbreak over if no…

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  • New smart ring is a novel way to control your computer — it has the humble mouse firmly in its sights

    New smart ring is a novel way to control your computer — it has the humble mouse firmly in its sights

    Researchers have developed a lightweight computer mouse that you wear on your finger like a ring and works for more than a month on a single charge.

    Called picoRing, the device weighs just 0.18 ounces (5 grams) and is designed as a discreet,…

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  • Photographer’s Once-in-a-Lifetime Shot of Lightning Sprites and the Milky Way

    Photographer’s Once-in-a-Lifetime Shot of Lightning Sprites and the Milky Way

    Dan Zafra (Capture the Atlas) caught elusive red lightning sprites fizzing in front of the galactic core of the Milky Way while the aurora australis glows in the bottom left corner.

    While out photographing the dark skies of New Zealand…

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  • Free Steam Game Gets Major Expansion At No Additional Cost, a Perfect End To Your Week

    This very well received free Steam game just got some brand new content which, surprisingly, is also free. Free stuff for free stuff, you love to see it.

    There’s an unquantifiably large amount of free games on Steam. I mean, someone could…

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  • Microsoft's Notepad, Photos, and Paint Apps Are Now Powered by AI. Here's What They Can Do – PCMag

    1. Microsoft’s Notepad, Photos, and Paint Apps Are Now Powered by AI. Here’s What They Can Do  PCMag
    2. Making every Windows 11 PC an AI PC  Windows Blog
    3. Microsoft finally brought back Cortana to Windows 11, sort of  Mint
    4. Microsoft’s October 2025 update…

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  • Funeral for legendary cricket umpire Dickie Bird in Barnsley

    Funeral for legendary cricket umpire Dickie Bird in Barnsley

    Lifelong friendshipspublished at 12:54 BST

    Bird grew up playing club cricket with legendary England batsman Sir Geoffrey Boycott and journalist and TV host Sir Michael Parkinson.

    They were friendships which would last a lifetime.

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  • Captain Marsh guides Australia to victory in rain-hit India ODI

    Captain Marsh guides Australia to victory in rain-hit India ODI

    Australia captain Mitchell Marsh guided his side to a comfortable seven-wicket win against India in a rain-affected first one-day international in Perth on Sunday.

    Chasing 131 for victory in a match that was reduced to 26 overs a side, Marsh…

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  • DESTINY-Breast11: Neoadjuvant T-DXd/THP Improves pCR in High-Risk HER2+ BC | Targeted Oncology

    DESTINY-Breast11: Neoadjuvant T-DXd/THP Improves pCR in High-Risk HER2+ BC | Targeted Oncology

    Neoadjuvant fam-trastuzumab deruxtecan-nxki (T-DXd; Enhertu) followed by paclitaxel, trastuzumab (Herceptin), and pertuzumab (Perjeta; THP) yielded benefit in pathologic complete response (pCR) rates compared with dose-dense doxorubicin and cyclophosphamide plus THP (ddAC-THP) in patients with high-risk, HER2-positive early breast cancer, according to data from the phase 3 DESTINY-Breast11 trial (NCT05113251).1

    Findings presented at the 2025 ESMO Congress demonstrated that patients treated with T-DXd followed by THP (n = 321) experienced a pCR rate of 67.3% compared with 56.3% for those given ddAC-THP (n = 320; difference, 11.2%; 95% CI, 4.0%-18.3%; P = .003). Notably, the pCR benefit was observed in the hormone receptor–positive population, where the pCR rate was 61.4% in the T-DXd arm (n = 236) vs 52.3% in the ddAC-THP arm (n = 235; difference, 9.1%; 95% CI, 0.2%-17.9%), as well as the hormone receptor–negative population, where the respective pCR rates for the T-DXd arm (n = 83) and ddAC-THP arm (n = 85) were 83.1% and 67.1% (difference, 16.1%; 95% CI, 3.0%-28.8%).

    “DESTINY-Breast11 showed the highest reported pCR rate in HER2-positive early breast cancer for a registrational study in the neoadjuvant setting, despite—if you want to do cross-trial comparisons—a high prevalence of hormone receptor–positive disease and a high-risk population,” lead study author Nadia Harbeck, MD, PhD, said in a presentation of the data.

    Harbeck is director of the Breast Center and chair for Conservative Oncology at the Department of OB&GYN at LMU University Hospital in Munich, Germany.

    How Was the DESTINY-Breast11 Trial Designed?

    Harbeck noted that current neoadjuvant standard-of-care (SOC) regimens for HER2-positive early breast cancer have remained unchanged for more than a decade. As such, investigators sought to evaluate T-DXd–based treatment in this population with the goal of improving efficacy and safety vs the current SOC.

    The randomized, global, multicenter, open-label study enrolled patients with previously untreated HER2-positive early breast cancer who had high-risk disease, defined as ≥cT3 and N0-3 or cT0-4 and N1-3; or inflammatory breast cancer. Patients were allowed to enroll, irrespective of hormone receptor status.

    Patients were randomly assigned in a 1:1:1 fashion to receive T-DXd followed by THP; ddAC-THP; or T-DXd alone, followed by surgery in all arms. In the first arm, patients received 4 cycles of T-DXd followed by 4 cycles of THP. In the second, ddAC was administered for 4 cycles, followed by 4 cycles of THP. In the final arm, patients received T-DXd alone for 8 cycles.

    Notably, the T-DXd monotherapy arm was closed in March 2024, following a recommendation from the study’s independent data monitoring committee.

    After surgery, study protocols called for the following treatments, irrespective of arm:

    • pCR: radiotherapy and concomitant trastuzumab with or without pertuzumab for up to 1 year
    • Non-pCR: radiotherapy and ado-trastuzumab emtansine (Kadcyla) for up to 14 cycles
    • Hormone receptor–positive disease: endocrine therapy

    The study’s primary end point was pCR rate (ypT0/Tis ypN0) per blinded independent central review (BICR) assessment. Secondary end points included BICR-assessed pCR rate (ypT0 ypN0), event-free survival (EFS), safety, pharmacokinetics, invasive disease-free survival, overall survival, and health-related quality of life. Residual cancer burden (RCB) was an additional outcome measured during the study.

    At data cutoff, 16.9% of patients in the T-DXd plus THP arm discontinued a study drug, including T-DXd (2.8%), paclitaxel (14.4%), trastuzumab (2.2%), and pertuzumab (2.2%); 97.2% of patients in this arm proceeded to surgery. In the ddAC-THP arm, 13.8% of patients had discontinued any study treatment, including AC (2.9%), paclitaxel (12.0%), trastuzumab (3.0%), and pertuzumab (3.7%); 93.8% of patients in this arm underwent surgery. In the T-DXd monotherapy arm (n = 286), 18.4% of patients discontinued study treatment, and 95.8% underwent surgery.

    Regarding post-neoadjuvant treatments, 99.1% of evaluable patients in the T-DXd arm who achieved a pCR (n = 226) underwent any adjuvant therapy, comprising any cytotoxic chemotherapy regimen (5.8%), any T-DM1–containing regimen (1.8%), and any trastuzumab-containing regimen (94.2%). In the ddAC-THP, 98.4% of patients who achieved a pCR (n = 190) underwent any adjuvant therapy, including any cytotoxic chemotherapy regimen (5.8%), any T-DM1–containing regimen (2.1%), and any trastuzumab-containing regimen (91.6%).

    For patients who did not achieve a pCR, any adjuvant therapy was administered to 89.5% of patients in the T-DXd plus THP arm (n = 95) and 82.3% of patients in the ddAC-THP arm (n = 130). In the experimental group, adjuvant therapies included any cytotoxic chemotherapy regimen (10.5%), any T-DM1–containing regimen (52.6%), and any trastuzumab-containing regimen (38.9%). These respective rates were 9.2%, 56.9%, and 26.2% in the control group.

    In the T-DXd plus THP and ddAC-THP arms, the median age was 50 years (range, 25-82) and 50 years (range, 23-79), respectively. All patients in both arms were female. The highest proportion of patients in each arm was from Asia (T-DXd plus THP, 47.4%; ddAC-THP, 47.5%) and were Asian (49.8%; 49.1%). Most patients had an ECOG performance status of 0 (86.6%; 87.5%), had immunohistochemistry 3+ HER2-positive disease (87.2%; 88.4%), had cT0-2 tumors (54.8%; 58.8%), and had positive lymph nodes (89.4%; 87.8%).

    What Were the Other Efficacy Outcomes for T-DXd Plus THP vs ddAC-THP?

    Findings also showed that 81.3% of patients in the T-DXd plus THP arm had no RCB (RCB-0) or minimal RCB (RCB-1) in resected breast or lymph node tissue compared with 69.1% in the ddAC-THP arm (difference, 12.2%). In the hormone receptor–positive population, the RCB-0 plus RCB-1 rates were 78.0% for T-DXd plus THP vs 64.7% for ddAC-THP; these respective rates were 90.4% and 81.2% in the hormone receptor–negative population.

    Investigators also reported an EFS trend favoring T-DXd plus THP, with data at 4.5% maturity (HR, 0.56; 95% CI, 0.26-1.17). Maturity for the data cutoff of the trial’s final analysis is predicted at approximately 10%. The 24-month EFS rates were 96.9% (95% CI, 93.5%-98.6%) in the T-DXd plus THP arm vs 93.1% (95% CI, 88.7%-95.8%) in the ddAC-THP arm.

    What Is the Safety Profile of T-DXd Plus THP?

    Any-grade adverse effects (AEs) occurred in 98.1% of patients in the T-DXd plus THP arm compared with 98.7% of patients in the ddAC-THP arm. The respective rates of grade 3 or higher AEs were 37.5% and 55.8%. Any-grade serious AEs were reported in 10.6% and 20.2% of patients, respectively.

    In the T-DXd plus THP arm, AEs led to dose any dose reduction, any drug interruption, and any treatment discontinuation in 18.1%, 37.8%, and 14.1% of patients, respectively. In the ddAC-THP group, these rates were 19.2%, 54.5%, and 9.9%, respectively. AEs led to death in 0.6% of patients in both arms. AEs led to delays in surgery in 3.4% of patients in the experimental arm vs 2.6% of patients in the control arm.

    Regarding AEs of special interest, any-grade drug-related adjudicated interstitial lung disease (ILD) was 4.4% in the T-DXd plus THP arm vs 5.1% in the ddAC-THP arm. The rates of grade 3 or higher ILD were 0.6% and 1.9%, respectively. Grade 5 ILD occurred in 1 patient (0.3%) in both groups. Any-grade left ventricular dysfunction occurred in 1.3% of patients in the experimental arm vs 6.1% of patients in the control arm. The rates of grade 3 or higher left ventricular dysfunction were 0.3% and 1.9%, respectively, although no grade 5 events were reported in either group.

    Any-grade treatment-emergent AEs reported in at least 20% of patients in either arm included nausea (T-DXd plus THP, 64.7%; ddAC-THP, 51.6%), diarrhea (58.8%; 54.2%), alopecia (47.5%; 49.0%), fatigue (41.3%; 54.8%), increased transaminase levels (34.4%; 33.7%), neutropenia (29.1%; 44.2%), constipation (29.1%; 24.4%), vomiting (28.8%; 21.2%), peripheral neuropathy (25.9%; 20.8%), anemia (22.8%; 49.7%), stomatitis (18.4%; 27.9%), and leukopenia (17.2%; 23.4%).

    What Data Were Reported for T-DXd Monotherapy in HER2+ Early Breast Cancer?

    When the T-DXd monotherapy arm, patients were allowed to remain on therapy or immediately switch to local SOC. If patients switched therapy, they were classified as having a non-pCR.

    Findings from the monotherapy arm showed that patients (n = 286) achieved a pCR rate of 43.0% at the primary analysis and 51.4% at a prespecified supplementary analysis. EFS data were similar between T-DXd monotherapy and ddAC-THP (HR, 0.82; 95% CI, 0.41-1.62), and the 24-month EFS rate in the T-DXd monotherapy group was 94.4% (95% CI, 90.5%-98.7%).

    Regarding safety, 97.5% of patients treated with T-DXd alone (n = 283) experienced any-grade AEs, 22.6% had grade 3 or higher AEs, and 10.2% had any-grade serious AEs. AEs led to dose reduction, drug interruption, and treatment discontinuation in 6.7%, 18.0%, and 7.8% of patients, respectively. One patient (0.4%) experienced an AE that led to death. AEs led to surgical delay in 6.4% of patients.

    The rate of any-grade, drug-related adjudicated ILD was 4.9% in the T-DXd monotherapy arm, although all instances were grade 1 or 2. Left ventricular dysfunction occurred in 0.7% of patients, all at grade 1 or 2.

    What’s Next for T-DXd Plus THP?

    Based on data from DESTINY-Breast11, the FDA accepted a supplemental biologics license application seeking the approval of neoadjuvant T-DXd followed THP for the treatment of adult patients with high-risk, HER2-positive (IHC 3+ or in situ hybridization–positive), stage II/III breast cancer.2

    The FDA has assigned a target action date of May 18, 2026, under the Prescription Drug User Fee Act.

    “DESTINY-Breast11 results support T-DXd [plus] THP as a more effective and less toxic neoadjuvant treatment compared with ddAC-THP, and it may become the preferred regimen for patients with high-risk, HER2-positive early breast cancer,” Harbeck concluded in her presentation.1

    Disclosures: Harbeck reported receiving honoraria from AstraZeneca, Daiichi Sankyo, Gilead, Lilly, Menarini Stemline, MSD, Novartis, Pfizer, Pierre Fabre, Roche, Viatris, and Zuellig Pharma; serving as a consultant or advisor for Exact Sciences, Gilead, Pfizer, Roche, and Sandoz; having an institutional site contract with AstraZeneca; serving as a data safety monitoring board or advisory board member for Gilead, IQVIA, and Roche; and having ownership interested in the West German Study Group.

    REFERENCES:
    1. Harbeck N, Modi S, Pusztai L, et al. DESTINY-Breast11: neoadjuvant trastuzumab deruxtecan alone (T-DXd) or followed by paclitaxel + trastuzumab + pertuzumab (T-DXd-THP) vs SOC for high-risk HER2+ early breast cancer (eBC). Presented at: 2025 ESMO Congress; October 17-21, 2025; Berlin, Germany. Abstract 291O.
    2. Enhertu followed by THP supplemental biologics license application accepted in the U.S. for patients with high-risk HER2 positive early-stage breast cancer prior to surgery. News release. Daiichi Sankyo. October 1, 2025. Accessed October 18, 2025. https://www.daiichisankyo.com/files/news/pressrelease/pdf/202510/20251001_E.pdf

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