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JOYY
(NASDAQ:JOYY)
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Rating:79Outperform
Price Target:
$73.00
▲(23.29% Upside)
Action:Reiterated
Date:05/27/26
The score is driven primarily by very strong valuation (very low P/E and high dividend yield) and solid fundamentals (low leverage and healthy cash generation). Earnings-call guidance adds support with accelerating growth and an expanded shareholder return program, while the main constraint is the history of revenue decline and earnings volatility plus only moderately supportive technical momentum.
Positive Factors
Strong balance sheet / net cash
A net cash position near $3.2B provides durable financial flexibility for reinvestment, M&A, and the $1.5B shareholder return program. Low leverage reduces refinancing risk and supports multi-year investments in ad tech and Shopline without stressing liquidity or capital structure.
Negative Factors
Multi‑year revenue decline
A multi‑year top‑line decline weakens growth optionality and raises the bar for new initiatives to offset legacy erosion. Even with recent recovery, prior secular declines imply customer monetization or market share issues that require sustained execution to reverse permanently.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet / net cash
A net cash position near $3.2B provides durable financial flexibility for reinvestment, M&A, and the $1.5B shareholder return program. Low leverage reduces refinancing risk and supports multi-year investments in ad tech and Shopline without stressing liquidity or capital structure.
Read all positive factors
JOYY Key Performance Indicators (KPIs)
Any
Global Average Mobile MAUs
Measures the average number of monthly active users on mobile devices worldwide, reflecting user engagement and the platform's reach and popularity.
Measures the average number of monthly active users on mobile devices worldwide, reflecting user engagement and the platform's reach and popularity.
Data provided by:
The Fly
The FlyJOYY (JOYY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.39B
Dividend Yield4.25%
Average Volume (3M)339.37K
Price to Earnings (P/E)15.3
Beta (1Y)0.60
Revenue Growth1.02%
EPS GrowthN/A
CountryUS
Employees5,815
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-2.94
Shares Outstanding34,056,300
10 Day Avg. Volume351,594
30 Day Avg. Volume339,366
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.52
Price to Sales (P/S)1.60
P/FCF Ratio21.44
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue1.42
Enterprise Value/Gross Profit3.94
Enterprise Value/Ebitda-14.28
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.34
Revenue Forecast (FY)$2.33B
JOYY Business Overview & Revenue Model
Company Description
JOYY Inc., through its various subsidiaries, manages a diverse portfolio of social media platforms, delivering immersive video and audio-based experiences to users. Its prominent offerings include: Bigo Live: A live streaming platform enabling use...
How the Company Makes Money
JOYY primarily makes money through live-streaming social entertainment monetization on its platforms. The core revenue stream is the sale of virtual items (digital gifts) that viewers purchase to send to hosts/creators during live streams; the pla...
JOYY Earnings Call Summary
Earnings Call Date:May 25, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Sep 01, 2026
Earnings Call Sentiment Positive
The call highlights strong and accelerating top‑line momentum driven by a significant surge in advertising (BIGO Ads), continued recovery in social entertainment, and Shopline's transition toward scale and improving gross margins. Robust cash generation and a sizable $1.5B shareholder return program underline management confidence. Key near‑term headwinds include margin mix pressure in Ads, FX losses, and ongoing investments that keep Shopline unprofitable for now. On balance, the positive operational and financial progress materially outweigh the challenges.Positive Updates
Strong Overall Revenue Growth
Total net revenues of $555.7M in Q1 2026, up 12.4% year‑over‑year — the company's strongest YoY growth rate in recent years.
Negative Updates
Advertising Gross Margin Pressure
BIGO Ads gross margin declined quarter‑over‑quarter due to a higher contribution from lower‑margin network revenues (third‑party network mix shift).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Overall Revenue Growth
Total net revenues of $555.7M in Q1 2026, up 12.4% year‑over‑year — the company's strongest YoY growth rate in recent years.
Read all positive updates
Company Guidance
Management guided Q2 net revenues of $562–$581 million (implying 10.7%–14.4% YoY growth), with social entertainment expected to deliver low‑ to mid‑single‑digit YoY growth, BIGO Ads mid‑double‑digit YoY growth, and Shopline accelerating to about 25% YoY; they reiterated full‑year views of steady YoY growth for social entertainment, mid‑double‑digit growth for BIGO Ads, double‑digit growth for Shopline and group non‑GAAP operating profit/EBITDA improving in the “steady teens” YoY in 2026, plus sequential operating profit improvement in Q2. Management also flagged near‑term FX headwinds, reiterated strategic milestones—BIGO Audience Network $1 billion revenue target by 2028 and Shopline breakeven by 2028—and announced a $1.5 billion, three‑year shareholder return program (up to $600 million in repurchases and ~$900 million in dividends; $300 million/year dividend and ~$200 million/year buyback authorization).JOYY Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
84
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.24B | 2.12B | 2.24B | 2.27B | 2.41B | 2.62B |
| Gross Profit | 806.20M | 762.63M | 806.20M | 813.03M | 852.13M | 837.90M |
| EBITDA | -222.67M | 322.46M | -120.06M | 430.90M | 810.72M | 119.81M |
| Net Income | -146.24M | 2.10B | -146.24M | 301.82M | 128.89M | -80.29M |
Balance Sheet | ||||||
| Total Assets | 7.52B | 7.55B | 7.52B | 8.48B | 9.07B | 9.12B |
| Cash, Cash Equivalents and Short-Term Investments | 1.81B | 1.21B | 1.81B | 3.31B | 3.94B | 4.39B |
| Total Debt | 31.04M | 31.64M | 31.04M | 488.53M | 907.58M | 940.85M |
| Total Liabilities | 2.76B | 950.46M | 2.76B | 3.19B | 3.57B | 3.49B |
| Stockholders Equity | 4.71B | 6.54B | 4.71B | 5.16B | 5.18B | 5.53B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 158.93M | 224.16M | 213.57M | 247.28M | 25.54M |
| Operating Cash Flow | 0.00 | 302.32M | 308.66M | 295.58M | 316.49M | 210.42M |
| Investing Cash Flow | 0.00 | -456.10M | -210.25M | 420.37M | -510.28M | 789.59M |
| Financing Cash Flow | 0.00 | -288.31M | -707.83M | -841.75M | -321.91M | -723.54M |
JOYY Technical Analysis
Positive
59.21
Price Trends
61.31
Positive
59.66
Positive
59.33
Positive
Market Momentum
1.18
Positive
61.71
Neutral
40.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JOYY, the sentiment is Positive. The current price of 59.21 is below the 20-day moving average (MA) of 65.58, below the 50-day MA of 61.31, and below the 200-day MA of 59.33, indicating a bullish trend. The MACD of 1.18 indicates Positive momentum. The RSI at 61.71 is Neutral, neither overbought nor oversold. The STOCH value of 40.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JOYY.
JOYY Risk Analysis
JOYY disclosed 91 risk factors in its most recent earnings report. JOYY reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
JOYY Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $1.78B | 15.55 | 11.76% | 5.47% | 24.83% | 73.88% | |
79 Outperform | $3.39B | 15.31 | 3.47% | 4.25% | 1.02% | ― | |
75 Outperform | $12.41B | 10.23 | 10.97% | 1.02% | 17.25% | -3.49% | |
67 Neutral | $1.80B | 4.61 | 9.89% | 8.13% | 1.64% | 4.56% | |
64 Neutral | $867.28M | 8.72 | 6.68% | ― | -1.21% | -41.09% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $203.26M | -2.67 | -4.79% | ― | -19.42% | -2894.74% |
* Communication Services Sector Average
JOYY
JOYY
67.26
20.28
43.17%
WB
Weibo
7.36
-1.58
-17.69%
MOMO
Hello Group
5.87
-2.24
-27.65%
OPRA
Opera
19.90
0.84
4.41%
TME
Tencent Music Entertainment Group
8.63
-10.34
-54.50%
ZH
Zhihu
3.15
-1.24
-28.25%
JOYY Corporate Events
JOYY Posts Double-Digit Q1 2026 Revenue Growth as Ad Tech and Smart Commerce Accelerate
May 26, 2026
JOYY reported unaudited first-quarter 2026 results on May 26, 2026, posting net revenue of $555.7 million, up 12.4% year over year, driven by a return to growth in social entertainment and rapid expansion in its B2B ad tech and smart commerce busi...
JOYY Swings to Profit in 2025 as AI-Powered Ad Tech Drives Revenue Rebound
Mar 11, 2026
On March 11, 2026, JOYY reported unaudited results for the fourth quarter and full year 2025, posting Q4 net revenue of $581.9 million, up 5.9% year on year and 7.7% sequentially, driven by a 62.4% surge in advertising revenue and steady live-stre...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.