Boyaa Interactive International (0434) AI Stock Analysis

• Market Cap: HK$2.67B
• Dividend Yield: 3.01%
• Average Volume (3M): 5.08M
• Price to Earnings (P/E): 2.1
• Beta (1Y): 0.20
• Revenue Growth: 10.44%
• EPS Growth: 345.95%
• Country: HK
• Employees: 220
• Sector: Communication Services
• Sector Strength: 97
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): 0.38
• Shares Outstanding: 770,976,750
• 10 Day Avg. Volume: 2,892,564
• 30 Day Avg. Volume: 5,079,961
• PEG Ratio: <0.01
• Price to Book (P/B): 1.11
• Price to Sales (P/S): 5.98
• P/FCF Ratio: 17.76
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$7.43
• Price Target Upside: 103.56% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 12.11
• Revenue Forecast (FY): HK$4.23B

• Rating: 75 Outperform
• Price Target: HK$4.50 ▲(23.29% Upside)

The score is driven primarily by strong financial performance (high profitability and a low-leverage balance sheet), offset by weaker cash flow trends. Valuation is a major positive due to the very low P/E and a moderate dividend yield, while technical indicators are mixed and reflect weaker longer-term trend despite short-term stabilization.

Positive Factors

Strong profitability and improving margins

High gross and net profit margins and rising EBIT/EBITDA margins indicate durable operational efficiency and pricing power. This supports sustained cash generation potential, funds reinvestment into content, and resilience to competitive pressure over the medium term.

Low leverage and solid balance sheet

A low debt-to-equity profile and robust ROE provide financial flexibility to invest in game development, marketing, or M&A without stressing solvency. This reduces refinancing risk and supports consistent capital allocation over economic cycles.

Recurring freemium model with steady revenue growth

The freemium in-game purchase model generates recurring monetization from active users and scales with engagement. Combined with reported revenue growth, this creates a durable, repeatable revenue engine that supports long-term growth and potential upsell economics.

Negative Factors

Negative free cash flow growth

Declining free cash flow growth constrains the company’s ability to fund new titles, marketing, dividends, or buybacks without external funding. Over months, persistent negative FCF growth can erode liquidity cushions and limit strategic flexibility.

Weaker cash-flow quality / cash conversion risk

A gap between reported profitability and free cash generation signals working-capital, capex, or timing issues. Poor cash conversion reduces reliable internal funding for content pipelines and heightens sensitivity to revenue volatility or rising costs.

Geographic concentration in Asia-Pacific

Heavy reliance on Asia-Pacific markets concentrates regulatory, competitive, and macro risks regionally. Changes in local regulation, platform rules, or consumer trends could materially affect revenue growth and user monetization over a multi-month horizon.

Boyaa Interactive International Business Overview & Revenue Model

Company Description

Boyaa Interactive International Limited (0434) is a leading online game developer and operator, primarily engaged in the design, development, and distribution of mobile and online gaming products. The company focuses on the social gaming sector, offering a wide range of poker and casual games that cater to diverse audiences. With a strong presence in the Asia-Pacific region, Boyaa aims to enhance user engagement through innovative game features and community-driven experiences.

How the Company Makes Money

Boyaa Interactive generates revenue primarily through in-game purchases, where players buy virtual goods, upgrades, and enhancements to enhance their gaming experience. This freemium model allows users to access games for free while providing options for monetization. Additionally, the company earns income from advertising within its games, as well as through partnerships and collaborations with other gaming and technology firms that help expand its user base and enhance product offerings. Key revenue streams also include subscription services and sponsorships related to gaming tournaments and events.

Boyaa Interactive International Financial Statement Overview

Summary

Strong profitability and improving operating margins, supported by a solid, low-leverage balance sheet. The main weakness is cash flow quality, with negative free cash flow growth in the TTM period despite positive operating cash flow relative to net income.

Income Statement

Boyaa Interactive International shows strong profitability with high gross and net profit margins, particularly in the TTM period. The company has demonstrated consistent revenue growth, with a notable increase in EBIT and EBITDA margins, indicating efficient cost management and operational performance.

Balance Sheet

The company maintains a solid financial position with a low debt-to-equity ratio, indicating minimal leverage risk. The return on equity is robust, reflecting effective use of equity capital. The equity ratio suggests a stable asset base supported by equity.

Cash Flow

Cash flow analysis reveals challenges with negative free cash flow growth in the TTM period, indicating potential liquidity issues. However, the operating cash flow to net income ratio remains positive, suggesting operational cash generation is still strong relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	471.35M	456.88M	394.58M	375.27M	366.16M	351.48M
Gross Profit	339.14M	332.14M	271.28M	245.84M	244.96M	242.23M
EBITDA	1.41B	1.06B	139.40M	115.88M	134.41M	-5.57M
Net Income	1.15B	883.78M	117.18M	64.20M	-4.37M	-45.10M
Balance Sheet
Total Assets	3.87B	2.96B	1.93B	1.79B	2.30B	2.33B
Cash, Cash Equivalents and Short-Term Investments	84.22M	157.85M	1.61B	1.43B	1.36B	1.12B
Total Debt	10.55M	12.94M	12.38M	16.53M	860.00K	4.62M
Total Liabilities	563.31M	500.81M	329.88M	329.31M	285.68M	286.41M
Stockholders Equity	3.30B	2.46B	1.60B	1.46B	1.34B	2.05B
Cash Flow
Free Cash Flow	-43.06M	153.80M	82.25M	124.88M	120.95M	114.01M
Operating Cash Flow	2.39M	163.73M	93.19M	128.39M	123.94M	125.98M
Investing Cash Flow	-292.29M	-733.31M	338.62M	-89.78M	-256.34M	-205.75M
Financing Cash Flow	303.56M	-33.62M	-4.15M	-4.13M	-4.18M	-9.15M

Boyaa Interactive International Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0434, the sentiment is Negative. The current price of 3.65 is above the 20-day moving average (MA) of 3.64, below the 50-day MA of 3.92, and below the 200-day MA of 5.64, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 48.63 is Neutral, neither overbought nor oversold. The STOCH value of 63.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0434.

Boyaa Interactive International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0434	75 Outperform	HK$2.67B	2.07	42.91%	3.01%	10.44%	345.95%
2660	72 Outperform	HK$2.69B	8.08	12.02%	13.83%	-27.66%	-51.96%
0799	70 Outperform	HK$4.39B	7.65	17.91%	3.82%	4.02%	-23.98%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
6820	59 Neutral	HK$1.20B	16.72	5.50%	―	30.71%	―
3798	56 Neutral	HK$1.78B	-25.27	-3.33%	7.30%	-23.42%	-191.82%
0302	39 Underperform	HK$1.26B	-0.44	-57.29%	―	-36.80%	-666.80%

Boyaa Interactive International Corporate Events

Boyaa Interactive Donates HK$1 Million for Tai Po Fire Recovery

Boyaa Interactive International Limited has announced a donation of HK$1 million to Po Leung Kuk to aid post-disaster reconstruction efforts in Tai Po, Hong Kong, following a devastating fire. This contribution, funded by the company’s internal resources, underscores Boyaa’s commitment to corporate social responsibility and is not expected to materially impact its financial position or operations.

The most recent analyst rating on (HK:0434) stock is a Hold with a HK$4.50 price target. To see the full list of analyst forecasts on Boyaa Interactive International stock, see the HK:0434 Stock Forecast page.

Boyaa Interactive Reports Strong Q3 Results with Digital Asset Gains

Boyaa Interactive International Limited announced its unaudited consolidated results for the third quarter and nine months ending September 30, 2025. The company reported a slight increase in revenue by 0.3% to HK$351,083,000 for the nine-month period, with significant gains from digital assets contributing to a 108.3% rise in profit attributable to owners. The company’s strategic investment in Bitcoin has also shown a yield of 15.1%, indicating a strong position in digital asset management.

The most recent analyst rating on (HK:0434) stock is a Hold with a HK$5.00 price target. To see the full list of analyst forecasts on Boyaa Interactive International stock, see the HK:0434 Stock Forecast page.

Boyaa Interactive Projects Significant Profit Increase Amid Digital Asset Gains

Boyaa Interactive International Limited announced a significant expected increase in profit attributable to its owners for the nine months ending September 30, 2025, with a rise of approximately 105% to 115% compared to the previous year. This increase is largely driven by a higher fair value of digital assets. However, when excluding non-operating factors, the company’s profit is expected to decrease by 30% to 35% due to reduced bank deposits from cryptocurrency purchases, leading to lower deposit interest income and higher income tax expenses.

The most recent analyst rating on (HK:0434) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Boyaa Interactive International stock, see the HK:0434 Stock Forecast page.

Boyaa Interactive Announces Board Meeting for Financial Results

Boyaa Interactive International Limited has announced a board meeting scheduled for November 17, 2025, to approve the unaudited consolidated third quarterly results for the period ending September 30, 2025. This announcement is crucial for stakeholders as it will provide insights into the company’s financial performance and strategic direction for the upcoming quarters.

The most recent analyst rating on (HK:0434) stock is a Hold with a HK$5.50 price target. To see the full list of analyst forecasts on Boyaa Interactive International stock, see the HK:0434 Stock Forecast page.