NASDAQ : JOYY
JOYY Inc. — Financial statements
Communication Services · Internet Content & Information · Singapore
Last price 80.83 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.96B
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Financial statements
JOYY Inc. (JOYY) reported revenue of 2.27B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 2.11B | 1.97B | 2.11B | 2.10B | 2.23B | 2.48B |
| Other Revenue | 161.19M | 151.86M | 126.75M | 168.62M | 186.00M | 142.26M |
| Revenue | 2.27B | 2.12B | 2.24B | 2.27B | 2.41B | 2.62B |
| Cost of Revenue | 1.48B | 1.36B | 1.43B | 1.45B | 1.56B | 1.78B |
| Gross Profit | 789.66M | 762.63M | 806.20M | 813.03M | 852.13M | 837.90M |
| Selling, General & Admin | 506.48M | 473.64M | 508.57M | 492.24M | 542.26M | 690.14M |
| Research & Development | 218.62M | 226.91M | 256.02M | 295.50M | 261.81M | 279.78M |
| Other Operating Expenses | -2.72M | -2.32M | -6.05M | -9.71M | -17.50M | -20.38M |
| Operating Expenses | 722.39M | 698.23M | 758.54M | 778.04M | 786.56M | 949.54M |
| Operating Income | 67.28M | 64.40M | 47.67M | 34.99M | 65.56M | -111.64M |
| Interest Expense | -409.00K | -516.00K | -4.85M | -12.42M | -16.77M | -18.48M |
| Interest & Investment Income | 161.66M | 162.61M | 175.56M | 185.21M | 93.15M | 91.23M |
| Earnings From Equity Investments | 61.94M | 11.61M | -1.64M | 3.30M | -498.43M | -26.22M |
| Currency Exchange Gain (Loss) | -41.60M | -14.11M | 764.00K | -2.91M | 11.67M | -13.38M |
| Other Non Operating Income (Expenses) | -381.00K | |||||
| EBT Excluding Unusual Items | 248.88M | 223.99M | 217.50M | 208.18M | -344.82M | -78.86M |
| Impairment of Goodwill | -454.94M | -14.83M | ||||
| Gain (Loss) on Sale of Investments | -12.93M | 12.32M | 6.64M | 87.28M | 428.42M | -39.20M |
| Gain (Loss) on Sale of Assets | -1.88B | 1.64M | -6.18M | 4.96M | ||
| Asset Writedown | -8.58M | -8.58M | ||||
| Other Unusual Items | -1.39M | -1.39M | -1.39M | 47.53M | 57.95M | 55.00K |
| Pretax Income | -1.65B | 226.34M | -230.54M | 336.81M | 126.72M | -113.04M |
| Income Tax Expense | 19.84M | 16.43M | 13.48M | 18.86M | 34.58M | 25.75M |
| Earnings From Continuing Operations | -1.67B | 209.91M | -244.03M | 317.95M | 92.14M | -138.79M |
| Earnings From Discontinued Operations | 1.88B | 1.88B | 35.57M | |||
| Net Income to Company | 205.90M | 2.09B | -244.03M | 317.95M | 92.14M | -103.22M |
| Minority Interest in Earnings | 11.46M | 11.21M | 96.40M | 29.40M | 27.32M | 13.69M |
| Net Income | 217.36M | 2.10B | -147.62M | 347.35M | 119.47M | -89.53M |
| Net Income to Common | 217.36M | 2.10B | -147.62M | 347.35M | 119.47M | -89.53M |
| Shares Outstanding (Basic) | 51.21M | 52.60M | 57.89M | 65.43M | 71.97M | 78.10M |
| Shares Outstanding (Diluted) | 52.05M | 53.26M | 57.89M | 73.15M | 82.27M | 78.10M |
| EPS (Basic) | 4.24 | 39.86 | -2.55 | 5.31 | 1.66 | -1.15 |
| EPS (Diluted) | 4.24 | 39.42 | -2.60 | 4.87 | 1.59 | -1.15 |
| Free Cash Flow | 159.21M | 224.94M | 214.01M | 247.47M | 139.60M | |
| Free Cash Flow Per Share | 2.99 | 3.88 | 2.93 | 3.01 | 1.79 | |
| Dividend Per Share | 4.97 | 3.79 | 2.04 | 2.04 | ||
| Gross Margin | 34.81% | 35.90% | 36.03% | 35.85% | 35.34% | 31.99% |
| Operating Margin | 2.97% | 3.03% | 2.13% | 1.54% | 2.72% | -4.26% |
| Profit Margin | 9.58% | 98.72% | -6.60% | 15.32% | 4.95% | -3.42% |
| Free Cash Flow Margin | 7.50% | 10.05% | 9.44% | 10.26% | 5.33% | |
| EBITDA | 161.52M | 157.53M | 138.57M | 154.95M | 214.16M | 64.28M |
| EBITDA Margin | 7.12% | 7.42% | 6.19% | 6.83% | 8.88% | 2.45% |
| D&A For EBITDA | 94.25M | 93.13M | 90.91M | 119.96M | 148.60M | 175.92M |
| EBIT | 67.28M | 64.40M | 47.67M | 34.99M | 65.56M | -111.64M |
| EBIT Margin | 2.97% | 3.03% | 2.13% | 1.54% | 2.72% | -4.26% |
| Effective Tax Rate | 7.26% | 5.60% | 27.28% | |||
| Revenue as Reported | 2.27B | 2.12B | 2.24B | 2.27B | 2.41B | 2.62B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 336.99M | 374.25M | 444.76M | 1.06B | 1.21B | 1.84B |
| Short-Term Investments | 1.04B | 812.49M | 1.36B | 2.25B | 2.73B | 2.56B |
| Cash & Short-Term Investments | 1.38B | 1.19B | 1.80B | 3.31B | 3.94B | 4.39B |
| Accounts Receivable | 170.31M | 168.93M | 136.49M | 149.49M | 138.08M | 191.53M |
| Other Receivables | 141.96M | 130.41M | 133.39M | 98.68M | 84.79M | |
| Receivables | 170.31M | 310.89M | 266.89M | 282.87M | 236.76M | 283.93M |
| Prepaid Expenses | 309.45M | |||||
| Restricted Cash | 29.88M | 21.59M | 371.33M | 319.25M | 303.37M | 297.02M |
| Other Current Assets | 5.85M | 100.16M | 117.55M | 156.25M | 161.23M | 95.62M |
| Total Current Assets | 1.90B | 1.62B | 2.56B | 4.07B | 4.64B | 5.07B |
| Property, Plant & Equipment | 635.23M | 586.37M | 520.18M | 420.85M | 376.40M | 381.96M |
| Long-Term Investments | 611.68M | 551.80M | 530.68M | 544.54M | 660.40M | 1.02B |
| Goodwill | 2.19B | 2.19B | 2.19B | 2.65B | 2.65B | 1.96B |
| Other Intangible Assets | 501.15M | 523.35M | 580.37M | 649.78M | 728.30M | 682.13M |
| Long-Term Deferred Tax Assets | 9.77M | 9.78M | 2.56M | |||
| Other Long-Term Assets | 1.69B | 2.07B | 1.14B | 146.76M | 12.59M | 4.88M |
| Total Assets | 7.54B | 7.55B | 7.53B | 8.48B | 9.07B | 9.12B |
| Accounts Payable | 64.50M | 71.55M | 84.02M | 66.75M | 56.00M | 18.01M |
| Accrued Expenses | 651.86M | 528.79M | 476.46M | 467.40M | 431.16M | 445.31M |
| Short-Term Debt | 43.91M | 10.67M | 34.85M | 52.12M | 37.27M | |
| Current Portion of Long-Term Debt | 405.60M | 435.09M | ||||
| Current Portion of Leases | 9.69M | 8.94M | 10.78M | 12.39M | 12.45M | 11.04M |
| Current Income Taxes Payable | 70.28M | 64.53M | 78.30M | 86.10M | 78.10M | 65.74M |
| Current Unearned Revenue | 68.46M | 67.12M | 70.84M | 79.72M | 89.55M | 64.34M |
| Other Current Liabilities | 37.14M | 122.36M | 1.92B | 1.92B | 1.93B | 1.91B |
| Total Current Liabilities | 945.84M | 873.97M | 2.67B | 3.09B | 3.07B | 2.51B |
| Long-Term Debt | 401.61M | 931.45M | ||||
| Long-Term Leases | 16.06M | 12.03M | 9.95M | 18.42M | 21.60M | 5.73M |
| Long-Term Unearned Revenue | 9.05M | 9.52M | 12.63M | 12.93M | 9.77M | 6.42M |
| Long-Term Deferred Tax Liabilities | 64.25M | 54.94M | 47.63M | 53.95M | 64.26M | 36.21M |
| Other Long-Term Liabilities | 26.53M | 25.33M | 23.73M | 22.13M | 91.37M | 65.83M |
| Total Liabilities | 1.06B | 975.79M | 2.77B | 3.19B | 3.66B | 3.56B |
| Common Stock | 10.00K | 10.00K | 10.00K | 12.00K | 16.00K | 16.00K |
| Additional Paid-In Capital | 2.98B | 3.32B | 3.35B | 3.28B | 3.28B | 3.25B |
| Retained Earnings | 4.70B | 4.74B | 2.84B | 2.98B | 2.72B | 2.74B |
| Treasury Stock | -1.09B | -1.30B | -1.22B | -913.94M | -655.14M | -526.72M |
| Comprehensive Income & Other | -130.40M | -208.09M | -247.62M | -197.01M | -162.24M | 69.17M |
| Total Common Equity | 6.45B | 6.54B | 4.71B | 5.16B | 5.18B | 5.53B |
| Minority Interest | 28.26M | 34.85M | 47.77M | 133.33M | 233.15M | 34.14M |
| Shareholders' Equity | 6.48B | 6.58B | 4.76B | 5.29B | 5.41B | 5.56B |
| Total Liabilities & Equity | 7.54B | 7.55B | 7.53B | 8.48B | 9.07B | 9.12B |
| Total Debt | 69.66M | 31.64M | 55.58M | 488.53M | 908.02M | 948.22M |
| Net Cash (Debt) | 1.31B | 1.16B | 1.74B | 2.83B | 3.04B | 3.45B |
| Net Cash Per Share | 25.19 | 21.69 | 30.14 | 38.63 | 36.89 | 44.12 |
| Filing Date Shares Outstanding | 48.97M | 50.38M | 51.72M | 60.87M | 69.63M | 73.64M |
| Total Common Shares Outstanding | 48.97M | 49.98M | 52.06M | 60.87M | 69.63M | 73.64M |
| Working Capital | 950.64M | 745.40M | -117.81M | 986.23M | 1.57B | 2.56B |
| Book Value Per Share | 131.73 | 130.88 | 90.51 | 84.72 | 74.36 | 75.07 |
| Tangible Book Value | 3.76B | 3.82B | 1.94B | 1.86B | 1.80B | 2.89B |
| Tangible Book Value Per Share | 76.69 | 76.51 | 37.21 | 30.52 | 25.86 | 39.22 |
| Buildings | 295.33M | 267.66M | 270.42M | 144.68M | 158.12M | |
| Machinery | 323.42M | 322.41M | 303.03M | 288.09M | 331.21M | |
| Construction In Progress | 274.92M | 214.73M | 111.57M | 163.20M | 96.55M | |
| Leasehold Improvements | 5.77M | 5.58M | 5.68M | 7.32M | 8.21M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.10B | -147.62M | 347.35M | 119.47M | -89.53M | |
| Depreciation & Amortization | 105.82M | 102.61M | 132.50M | 163.38M | 182.93M | |
| Loss (Gain) From Sale of Assets | 1.17M | -1.78M | 5.90M | -4.12M | -4.59M | |
| Asset Writedown & Restructuring Costs | 14.79M | 454.94M | 16.19M | |||
| Loss (Gain) From Sale of Investments | 2.68M | 2.75M | -87.28M | -427.06M | 132.83M | |
| Loss (Gain) on Equity Investments | -11.61M | 1.64M | -3.30M | 498.43M | 26.22M | |
| Stock-Based Compensation | 25.80M | 23.20M | 31.98M | 44.10M | 33.38M | |
| Provision & Write-off of Bad Debts | 1.73M | 10.68M | 1.65M | 14.55M | 5.21M | |
| Other Operating Activities | -1.87B | -101.93M | -80.69M | -81.26M | -29.26M | |
| Change in Accounts Receivable | -45.01M | -13.65M | -32.42M | -20.20M | 28.06M | |
| Change in Accounts Payable | -3.48M | -22.73M | -5.56M | 19.05M | -18.52M | |
| Change in Unearned Revenue | -6.84M | -9.06M | -6.61M | 6.00M | -527.00K | |
| Change in Income Taxes | -14.81M | -7.81M | 7.88M | 17.61M | 3.39M | |
| Change in Other Net Operating Assets | 5.12M | 17.44M | -15.84M | -49.65M | -123.46M | |
| Operating Cash Flow | 302.32M | 308.66M | 295.58M | 316.49M | 210.42M | |
| Capital Expenditures | -143.11M | -83.72M | -81.57M | -69.02M | -70.82M | |
| Sale of Property, Plant & Equipment | 7.51M | 721.00K | 3.83M | 7.51M | 3.24M | |
| Cash Acquisitions | 27.93M | 7.05M | ||||
| Divestitures | 70.72M | |||||
| Sale (Purchase) of Intangibles | -284.00K | -775.00K | -445.00K | -197.00K | -114.06M | |
| Investment in Securities | -416.88M | -191.11M | 497.51M | -402.84M | -620.66M | |
| Other Investing Activities | 96.67M | -6.08M | 1.04M | -73.83M | 1.58B | |
| Investing Cash Flow | -456.10M | -210.25M | 420.37M | -510.28M | 789.59M | |
| Long-Term Debt Issued | 10.54M | 42.17M | 95.17M | 44.50M | 39.68M | |
| Long-Term Debt Repaid | -10.63M | -490.68M | -514.78M | -99.45M | -209.68M | |
| Net Debt Issued (Repaid) | -96.00K | -448.52M | -419.61M | -54.95M | -170.00M | |
| Issuance of Common Stock | 87.00K | 113.00K | 180.00K | |||
| Repurchase of Common Stock | -132.78M | -259.43M | -273.90M | -138.08M | -398.64M | |
| Common Dividends Paid | -155.53M | -84.20M | -145.93M | -160.14M | ||
| Other Financing Activities | -64.22M | 17.05M | 5.25M | |||
| Financing Cash Flow | -288.31M | -707.83M | -841.75M | -321.91M | -723.54M | |
| Foreign Exchange Rate Adjustments | 1.11M | 5.79M | 682.00K | -53.23M | 38.45M | |
| Net Cash Flow | -440.97M | -603.63M | -125.11M | -568.93M | 314.92M | |
| Free Cash Flow | 159.21M | 224.94M | 214.01M | 247.47M | 139.60M | |
| Free Cash Flow Margin | 7.50% | 10.05% | 9.44% | 10.26% | 5.33% | |
| Free Cash Flow Per Share | 2.99 | 3.88 | 2.93 | 3.01 | 1.79 | |
| Levered Free Cash Flow | -1.42B | 82.84M | 68.99M | 229.98M | 1.30B | |
| Unlevered Free Cash Flow | -1.42B | 85.87M | 76.75M | 240.46M | 1.31B | |
| Cash Interest Paid | 516.00K | 3.02M | 7.83M | 8.71M | 15.48M | |
| Cash Income Tax Paid | 33.74M | 29.05M | 22.08M | 19.15M | 29.93M | |
| Change in Working Capital | -65.02M | -35.82M | -52.54M | -27.18M | -111.05M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.93B | 3.30B | 2.25B | 2.41B | 2.24B | 3.54B |
| Enterprise Value | 2.62B | 2.12B | -4.81M | -275.41M | -530.17M | 37.26M |
| Last Close Price | 80.32 | 59.78 | 36.48 | 34.60 | 26.48 | 35.77 |
| PE Ratio | 18.92 | 1.57 | 6.95 | 18.73 | ||
| Forward PE | 12.82 | 11.81 | 11.54 | 12.27 | 12.52 | 36.40 |
| PS Ratio | 1.73 | 1.55 | 1.01 | 1.06 | 0.93 | 1.35 |
| PB Ratio | 0.61 | 0.50 | 0.47 | 0.46 | 0.41 | 0.64 |
| P/TBV Ratio | 1.05 | 0.86 | 1.16 | 1.30 | 1.24 | 1.23 |
| P/FCF Ratio | 24.71 | 20.73 | 10.02 | 11.28 | 9.04 | 25.37 |
| P/OCF Ratio | 10.92 | 7.30 | 8.17 | 7.07 | 16.83 | |
| PEG Ratio | 1.77 | 1.95 | 2.21 | 1.48 | 4.31 | 4.31 |
| EV/Sales Ratio | 1.16 | 1.00 | 0.01 | |||
| EV/EBITDA Ratio | 16.23 | 13.47 | 0.58 | |||
| EV/EBIT Ratio | 38.98 | 32.96 | ||||
| EV/FCF Ratio | 16.47 | 13.33 | 0.27 | |||
| Debt / Equity Ratio | 0.01 | 0.01 | 0.01 | 0.09 | 0.17 | 0.17 |
| Debt / EBITDA Ratio | 0.37 | 0.17 | 0.33 | 2.99 | 4.07 | 13.01 |
| Debt / FCF Ratio | 0.20 | 0.25 | 2.28 | 3.67 | 6.79 | |
| Net Debt / Equity Ratio | -0.20 | -0.18 | -0.37 | -0.53 | -0.56 | -0.62 |
| Net Debt / EBITDA Ratio | -8.12 | -7.33 | -12.59 | -18.24 | -14.17 | -53.60 |
| Net Debt / FCF Ratio | -7.25 | -7.76 | -13.20 | -12.27 | -24.68 | |
| Asset Turnover | 0.30 | 0.28 | 0.28 | 0.26 | 0.27 | 0.30 |
| Quick Ratio | 1.64 | 1.71 | 0.77 | 1.17 | 1.36 | 1.86 |
| Current Ratio | 2.00 | 1.85 | 0.96 | 1.32 | 1.51 | 2.02 |
| Return on Equity (ROE) | -25.49% | 3.70% | -4.86% | 5.94% | 1.68% | -2.35% |
| Return on Assets (ROA) | 0.56% | 0.53% | 0.37% | 0.25% | 0.45% | -0.81% |
| Return on Invested Capital (ROIC) | 1.26% | 1.42% | 1.74% | 1.36% | 2.12% | -3.91% |
| Return on Capital Employed (ROCE) | 1.00% | 1.00% | 1.00% | 0.60% | 1.10% | -1.70% |
| Earnings Yield | 5.28% | 63.52% | -6.55% | 14.39% | 5.34% | -2.53% |
| FCF Yield | 4.05% | 4.82% | 9.98% | 8.87% | 11.06% | 3.94% |
| Dividend Yield | 7.72% | 5.73% | 6.35% | 4.24% | ||
| Payout Ratio | 126.87% | 7.42% | 24.24% | 122.15% | ||
| Buyback Yield / Dilution | 3.75% | 8.00% | 20.86% | 11.09% | -5.34% | 2.39% |
| Total Shareholder Return | 11.47% | 13.73% | 20.86% | 11.09% | 1.01% | 6.63% |