Hi Vic, since Madamswer hasn't been posting for a little while I...

Hi Vic, since Madamswer hasn't been posting for a little while I thought I would go through what I get.
All data is from the FY 2018 report.

It seems you are using FCF = OCF - NCFI (cash out flow for investing)

OCF of 139.7m
NCFI of 28.7m

FCF = 139.7 - 28.7 = 111m

market cap = 1886m

FCF yield = (111/1886)*100 = 5.9%

Normally the dividend is included in the FCF and not taken out, as that is cash the business is producing and can be paid out - i.e. free cashflow.

Anyway I have been a holder of TME for around 4 years now and each year that FCF has been growing, along with increased business invesment. The valuation still seems pretty attractive even after the little increase recently.