JOYY Inc
JOYY
JOYY Inc AI Insights
Informational only. Not investment advice.Snapshot
- Net income 1.7B TTM vs pretax loss -207M - massive non-operating gains distorting profitability (83% net margin unsustainable)[Net Income TTM]
- Goodwill 2.2B is 33% of equity - impairment risk material given -3.3% revenue decline and negative EBITDA TTM[Goodwill]
- Trading at 0.96x book with 1.3B cash/investments vs 35M debt - balance sheet optionality underpriced[P/B Ratio]
Watch Triggers
- Total Revenue 1Y Growth: Turns positive (>0%) — Would signal turnaround in core business after 3 years of decline
- Normalized EBITDA: Falls below 50M or turns negative — Core operating cash generation already marginal at 61M on 2.1B revenue
- Goodwill: Any impairment charge announced — 2.2B goodwill impairment would crater book value and P/B thesis
Bull Case
Deep value: P/B 0.96x, P/E 14.9x, EV/Revenue 1.6x with net cash position of 1.2B. Tangible book 3.9B exceeds market cap 3.7B.
Capital returns: 2.82 dividend/share (6% yield implied) sustainable with 845M working capital and minimal debt 35M.
Bear Case
Structural decline: Revenue -3.3% YoY, -2.7% 3Y CAGR. Core EBITDA negative -207M TTM. Net income inflated by non-recurring items.
Asset quality risk: Goodwill 2.2B + intangibles 2.7B = 41% of assets. Impairment would eliminate equity cushion.
Bull vs Bear Balance
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Forward Thesis
Core operating business deteriorating despite headline profitability from one-time gains
- Revenue declining -3.3% YoY with gross profit down -7.2%
- Operating income 65M masks negative EBITDA of -207M
- R&D at 253M (12% of revenue) not translating to growth
Public Strategies Rankings
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JOYY Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$3.71B | — | ||
$3.36B | — | ||
15 | — | ||
$2.09B | -7.4% | — | |
$4.67 | +44.4% | — | |
3.09% | +2.0% | — | |
83.2% | +74.2% | — | |
$0 | — | ||
0.30 | +25.6% | — | |
Beta 5Y (Monthly) | unknown | — |
JOYY Dividend History
2026
$0.97002025
$2.82002023
$1.22002022
$2.04002021
$2.04002020
$0.8200JOYY Stock Splits
JOYY SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/20/25 | 09/30/25 | 6-K | |
08/27/25 | 06/30/25 | 6-K | |
05/27/25 | 03/31/25 | 6-K | |
04/29/25 | 12/31/24 | Unknown | |
11/27/24 | 09/30/24 | 6-K | |
08/28/24 | 06/30/24 | 6-K | |
05/29/24 | 03/31/24 | 6-K | |
04/26/24 | 12/31/23 | 20-F | |
11/30/23 | 09/30/23 | 6-K | |
08/30/23 | 06/30/23 | 6-K | |
05/31/23 | 03/31/23 | 6-K | |
04/27/23 | 12/31/22 | 20-F | |
11/29/22 | 09/30/22 | 6-K | |
08/30/22 | 06/30/22 | 6-K | |
06/01/22 | 03/31/22 | 6-K | |
06/01/22 | 12/31/21 | 6-K | |
11/18/21 | 09/30/21 | 6-K | |
08/19/21 | 06/30/21 | 6-K | |
05/28/21 | 03/31/21 | 6-K | |
05/28/21 | 12/31/20 | 6-K | |
11/18/21 | 09/30/20 | 6-K | |
11/17/20 | 09/30/20 | 6-K | |
08/19/21 | 06/30/20 | 6-K | |
08/13/20 | 06/30/20 | 6-K | |
05/21/20 | 03/31/20 | 6-K | |
05/21/20 | 12/31/19 | 6-K | |
11/13/19 | 09/30/19 | 6-K | |
08/15/19 | 06/30/19 | 6-K | |
06/18/19 | 03/31/19 | 6-K | |
05/29/19 | 12/31/18 | 6-K | |
03/05/19 | 12/31/18 | 6-K | |
11/13/18 | 09/30/18 | 6-K | |
08/14/18 | 06/30/18 | 6-K | |
06/06/18 | 03/31/18 | 6-K | |
03/05/19 | 12/31/17 | 6-K | |
11/15/17 | 09/30/17 | 6-K | |
08/10/17 | 06/30/17 | 6-K | |
05/11/17 | 03/31/17 | 6-K | |
04/26/19 | 12/31/16 | 20-F | |
04/20/17 | 12/31/16 | 20-F | |
11/22/16 | 09/30/16 | 6-K | |
08/18/16 | 06/30/16 | 6-K | |
06/01/16 | 03/31/16 | 6-K | |
04/26/18 | 12/31/15 | 20-F | |
04/28/16 | 12/31/15 | 20-F | |
11/24/15 | 09/30/15 | 6-K | |
08/17/15 | 06/30/15 | 6-K | |
05/12/15 | 03/31/15 | 6-K | |
04/21/15 | 12/31/14 | 20-F | |
11/11/14 | 09/30/14 | Quarterly | -- |
08/18/14 | 06/30/14 | 6-K | |
05/07/14 | 03/31/14 | 6-K | |
03/17/14 | 12/31/13 | 20-F | |
11/14/13 | 09/30/13 | 6-K | |
08/23/13 | 06/30/13 | 6-K | |
05/03/13 | 03/31/13 | 6-K | |
04/26/13 | 12/31/12 | 20-F | |
11/21/12 | 09/30/12 | 424B4 | |
11/06/13 | 09/30/12 | 6-K | |
10/15/12 | 06/30/12 | F-1 | |
05/03/13 | 03/31/12 | 6-K | |
11/21/12 | 12/31/11 | 424B4 | |
09/30/11 | 09/30/11 | Unknown | -- |