Loading…
Global livestreaming and social media company (Bigo Live, Likee) after selling its China YY Live business to Baidu.
Global livestreaming and social media company (Bigo Live, Likee) after selling its China YY Live business to Baidu.
Users buy virtual currency and send it as gifts to streamers, and JOYY keeps a share of each gift, so earnings depend on a smaller group of heavy spenders and on the creator base on Bigo Live. Since the 2021 sale of YY Live to Baidu, almost all revenue comes from users outside China.
In one line: A livestreaming Match Group/Meta hybrid.
Moat: narrow (network effects, scale). Large creator and user base on Bigo Live in emerging markets creates engagement and monetization network effects.
Headquarters: Singapore · Founded: 2005 · Employees: 5,421
Size JOYY, Inc. Sponsored ADR (JOYY) is a United States Information Technology company (Data Processing Services) with a market value of $3.98B, the 1347th largest of 3,117 United States companies the cockpit tracks. Shares closed at $80.91 on 6 Nov 2026.
Performance Over six months the shares gained 37.4%, against -21.3% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 19 in its peer set.
Growth Revenue grew 7.5% over the last twelve months (peer median +7.4%); the operating margin is 2.5% (peer median -1.0%).
Valuation It trades at 12.9× forward earnings against a peer median of 23.5× (3rd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +18 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.3 points below its cost of capital (7.1% WACC).
Short interest Short interest is 3.7% of the free float (15 Oct 2026).
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.27B | $2.13B | $2.24B | $2.27B | $2.41B |
| Revenue growth | — | -5% | -1% | -6% | — |
| Gross profit | $792M | $685M | $723M | $725M | $768M |
| EBITDA | $130M | $160M | $144M | $149M | $203M |
| Net income | $219M | $223M | -$146M | $302M | $129M |
| Free cash flow | n/a | $160M | $225M | $214M | $247M |
| Capital expenditure | n/a | $144M | $84.5M | $81.9M | $69.1M |
| Total debt | $69.7M | $31.6M | $55.6M | $489M | $908M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| JOYY, Inc. Sponsored ADR JOYY | $3.98B | +37% | +8% | 2% | 12.9× | 19.8% |
| Bilibili Inc. Sponsored ADR BILI | $5.72B | -34% | +10% | 4% | 13.7× | -2.5% |
| Kuaishou-w 1024.HK | $16.0B | -39% | +11% | 11% | 14.9× | -4.4% |
| Match MTCH | $8.88B | +6% | 0% | 30% | 13.6× | 1.8% |
| Hello Group Inc. Sponsored ADR MOMO | $654M | -26% | 0% | 11% | 5.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | JOYY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.1% | -8.4% | 7th highest of 21 |
| 6-month return | +37.4% | -21.3% | 5th highest of 19 |
| Distance from 52-week high | -5.0% | -38.5% | 4th highest of 21 |
| Revenue growth (TTM) | +7.5% | +7.4% | 11th highest of 21 |
| Operating margin | 2.5% | -1.0% | 10th highest of 21 |
| Forward P/E | 12.9× | 23.5× | 3rd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 19.8% | 9.4% | 3rd most demanding of 10 |
| Growth delivered (Del g) | +2.1% | +5.9% | 5th lowest of 10 |
| Hurdle (Req g minus delivered) | +17.7 pp | +5.0 pp | 3rd most demanding of 10 |
| ROIC minus cost of capital | -6.3 pp | -7.0 pp | 10th highest of 21 |
| EV / EBITDA | 20.6× | 15.5× | 4th most expensive of 13 |
| Net debt / EBITDA | -10.3× | 0.8× | 2nd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JOYY, Inc. Sponsored ADR JOYY | United States | $3.98B | +37% | +8% | 2% | 12.9× | 19.8% | +2.1% |
| GDS 9698.HK | Hong Kong | $4.22B | -52% | +13% | 17% | 36.8× | n/a | n/a |
| Dentsu Soken 4812.T | Japan | $3.56B | +31% | +10% | 14% | 30.4× | 0.3% | +8.7% |
| Kyndryl Holdings Incorporation KD | United States | $3.55B | +33% | -1% | 4% | 5.9× | 1.6% | -4.9% |
| Applied Digital APLD | United States | $4.70B | -62% | +290% | -24% | n/a | n/a | n/a |
| Cipher Digital CIFR | United States | $2.99B | -68% | -29% | -172% | n/a | n/a | n/a |
| Nextdc NXT.AX | Australia | $5.47B | -30% | +16% | -7% | n/a | n/a | n/a |
| IONOS IOS.DE | Germany | $5.49B | +23% | -34% | 23% | 19.1× | 11.0% | +5.9% |
| Megaport MP1.AX | Australia | $2.80B | +86% | +37% | -10% | 99.5× | n/a | n/a |
| TeraWulf WULF | United States | $5.67B | -51% | +15% | -227% | n/a | n/a | n/a |
| Tgs TGS.OL | Norway | $2.73B | -13% | -30% | 12% | 16.3× | 5.5% | +36.2% |
| Beijing Sinnet Technology 300383.SZ | China | $2.70B | -37% | -2% | -11% | 149.7× | 46.5% | -0.7% |
| Wangsu Science & Technology 300017.SZ | China | $5.90B | 0% | 0% | 15% | 49.1× | 27.3% | -3.9% |
| Ionic Digital IOND | United States | $2.68B | n/a | -8% | -44% | 28.0× | n/a | n/a |
| Kingsoft Cloud 3896.HK | Hong Kong | $2.54B | -47% | +35% | -3% | n/a | n/a | n/a |
| Sunevision 1686.HK | Hong Kong | $2.46B | -29% | +6% | 52% | 14.3× | 10.9% | +10.7% |
| Hut 8 HUT | United States | $6.49B | -47% | +71% | -89% | n/a | n/a | n/a |
| ExlService EXLS | United States | $6.51B | +39% | +16% | 14% | 17.0× | 9.4% | +16.8% |
| SWI Capital SWICH.AS | Netherlands | $6.61B | +88% | -33% | -54% | n/a | n/a | n/a |
| Csquare CSQR | United States | $2.39B | n/a | +9% | 10% | n/a | n/a | n/a |
| DXC Technology DXC | United States | $2.31B | +58% | -3% | 1% | 5.8× | 3.2% | -6.5% |