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JOYY Inc. (JOYY)

Fair Value
Communication ServicesInternet Content & InformationSingapore

Fundamental

49

Price

$80.25

Market Cap

$3.93B

Part 1 · What the company is worth

Overview

JOYY Inc., together with its subsidiaries, engages in the provision of social product matrix and communication technology. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people; imo, an instant messenger platform that provides audio and video communication services; and Likee, a short video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds. It also provides Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; Bigo Ads, an AI-powered programmatic advertising platform, which provides one-stop marketing and monetization solutions; and Shopline, a smart commerce platform that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores. The company operates in North America, Europe, the Middle East, Southeast Asia, and internationally. The company was formerly known as YY Inc. and changed its name to JOYY Inc. in December 2019. JOYY Inc. was founded in 2005 and is headquartered in Singapore.

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Direct competitors

Who this company fights with for the same customers

Generated on September 19, 2026 with claude-haiku-4-5 — shared with all users

Hello Group Inc. (挚文集团)MOMO

Hello Group runs interactive social and live-streaming apps monetised through virtual gifts, and its overseas products such as SoulChill and Yaha Live chase the same paying audiences in the Middle East and Southeast Asia that Bigo Live depends on.

ByteDance Ltd. (字节跳动)Not tracked

ByteDance's TikTok competes head-on with Likee for short-video users and with Bigo Live for live-streaming gifting revenue, in almost every market where JOYY operates.

Kuaishou Technology (快手科技)1024.HK

Kuaishou's international apps Kwai and SnackVideo pair short video with gift-based live streaming in Brazil, Indonesia and the Middle East, the same combination and the same regions as Likee and Bigo Live.

Tango Me, Inc.Not tracked

Tango is a global gift-driven live-streaming app that recruits the same broadcasters and their audiences, and markets itself explicitly as the alternative to Bigo Live for creators.

Yalla Group Limited (يالا)YALA

Yalla's voice chat rooms and social games compete for the MENA users and the virtual-gift spending that make up a large share of Bigo Live's revenue.

HUYA Inc. (虎牙)HUYA

HUYA's international platform Nimo TV offers gift-monetised live streaming to viewers in Southeast Asia and Latin America, the same audiences and the same spending as Bigo Live's game and entertainment channels.

Balance Sheet & Liquidity

Revenue

$2.27B

Trailing 12 months (through 6/30/2026)

Net Income

$219M

Trailing 12 months (through 6/30/2026)

Free Cash Flow

-

Total Equity

$4.30B

Total Liabilities

$70M

Current Ratio

2.00

Interest Coverage

-

Debt/EBITDA

0.43

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

How heavy the debt is

Growth grid

Growth — Revenue

Fair Value Estimation

General caseFairly Valued

Fair Value

$104.84

Current Price

$80.25

Margin of Safety

+23.5%

Fair Value Range

$68.15 - $141.54

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$89.48
Discounted cash flow (DCF):$189.91
Earnings multiple (P/E):$54.75
Graham growth formula:$165.85
Earnings power value (EPV):$0.38
Justified P/B:$0.33
Dividend discount (Gordon):$3.20
P/FFO, funds from operations:Not enough data to compute it
Mid-cycle earnings:Not enough data to compute it
Revenue multiple:$3.47
Analyst Consensus:Strong Buy (18B / 3H / 0S)
Last Earnings Surprise:-5.12%

Valuation Metrics

P/E Ratio

19.02

ROE

-25.5%

P/B Ratio

0.61

P/FCF

-

Gross Margin

34.8%

ROIC

1.0%

Profitability Radar

Value Creation (Economic Moat)

ROIC

1.0%

WACC

7.9%

ROIC − WACC

-6.9 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

Fundamental Analysis Criteria

Passed (10)

  • Price CAGR 7.39%
  • Gross Margin 34.8%
  • P/B Ratio 0.61
  • Debt/Equity ratio
  • Current Ratio
  • Debt/EBITDA
  • Analyst Consensus 86% Buy
  • Earnings Surprise avg 8.5%
  • PEG Ratio 1.00
  • Net Margin Trend 98.7% vs -6.6%

Failed (5)

  • ROIC 1.0%
  • DCF valuation (Unknown)
  • ROE 3.3%
  • Revenue Growth 5Y 2.1%
  • Piotroski F-Score 0/9

Unavailable (12)

  • EPS data insufficient
  • P/FCF NaN
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Positive Free Cash Flow
  • CapEx intensity
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Price below Graham Number
  • Earnings Quality (OCF/Net Income)
  • Share Dilution (missing shares data)

Piotroski F-Score

0/9

Serious financial concerns

score
criteria

Earnings Quality

-

Low quality: investigate accounting

Share Dilution

-

Buying back shares. Shareholder friendly

Institutional Holdings

Governance

Executive Team

NameTitleAge
Ms. Ting LiChairperson of the Board & CEO42
Mr. Xueling LiCo-Founder & Director52
Mr. Fuyong LiuVice President of Finance41
Ms. Tingzhen XieInvestor Relations Senior Manager-

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Latest News

Recent headlines for JOYY, sourced from Markets Gazette.

No recent news for JOYY.