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JOYY
(NASDAQ:JOYY)
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Rating:79Outperform
Price Target:
$86.00
▲(16.29% Upside)
Action:Reiterated
Date:05/27/26
The score is driven primarily by very strong valuation (very low P/E and high dividend yield) and solid fundamentals (low leverage and healthy cash generation). Earnings-call guidance adds support with accelerating growth and an expanded shareholder return program, while the main constraint is the history of revenue decline and earnings volatility plus only moderately supportive technical momentum.
Positive Factors
Strong net cash and low leverage
A net cash cushion (~$3.18B) and very low leverage materially enhance financial flexibility. This durable balance sheet supports multi-year investments, large shareholder returns, and downside protection versus peers, reducing refinancing risk and enabling strategic optionality over the next 2–6 months and beyond.
Negative Factors
Multi‑year revenue decline
A sustained revenue contraction through 2025 reflects structural challenges in core social entertainment. Recoveries in ads and Shopline must outpace declines to restore trend growth; until diversification consistently offsets legacy declines, topline weakness constrains long‑term growth visibility and returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong net cash and low leverage
A net cash cushion (~$3.18B) and very low leverage materially enhance financial flexibility. This durable balance sheet supports multi-year investments, large shareholder returns, and downside protection versus peers, reducing refinancing risk and enabling strategic optionality over the next 2–6 months and beyond.
Read all positive factors
JOYY Key Performance Indicators (KPIs)
Any
Global Average Mobile MAUs
Measures the average number of monthly active users on mobile devices worldwide, reflecting user engagement and the platform's reach and popularity.
Measures the average number of monthly active users on mobile devices worldwide, reflecting user engagement and the platform's reach and popularity.
Data provided by:
The Fly
The FlyJOYY (JOYY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.71B
Dividend Yield6.52%
Average Volume (3M)267.83K
Price to Earnings (P/E)16.7
Beta (1Y)0.55
Revenue Growth1.02%
EPS GrowthN/A
CountryUS
Employees5,421
SectorCommunication Services
Sector Strength97
IndustryInternet Content & Information
Share Statistics
EPS (TTM)3.24
Shares Outstanding34,056,300
10 Day Avg. Volume248,923
30 Day Avg. Volume267,831
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.52
Price to Sales (P/S)1.60
P/FCF Ratio21.44
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$78.00Price Target Upside5.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)5.39
Revenue Forecast (FY)$2.33B
JOYY Business Overview & Revenue Model
Company Description
JOYY Inc. (JOYY) is a global social media and interactive entertainment company focused on live streaming and real-time social interaction. The company operates online platforms that connect users through live video broadcasts, virtual communities...
How the Company Makes Money
JOYY primarily makes money through its live-streaming ecosystem, where users purchase virtual items (often called virtual gifts) to reward streamers/creators during live broadcasts. These virtual item sales are typically recognized as revenue by t...
JOYY Earnings Call Summary
Earnings Call Date:May 25, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Sep 01, 2026
Earnings Call Sentiment Positive
The call highlights strong and accelerating top‑line momentum driven by a significant surge in advertising (BIGO Ads), continued recovery in social entertainment, and Shopline's transition toward scale and improving gross margins. Robust cash generation and a sizable $1.5B shareholder return program underline management confidence. Key near‑term headwinds include margin mix pressure in Ads, FX losses, and ongoing investments that keep Shopline unprofitable for now. On balance, the positive operational and financial progress materially outweigh the challenges.Positive Updates
Strong Overall Revenue Growth
Total net revenues of $555.7M in Q1 2026, up 12.4% year‑over‑year — the company's strongest YoY growth rate in recent years.
Negative Updates
Advertising Gross Margin Pressure
BIGO Ads gross margin declined quarter‑over‑quarter due to a higher contribution from lower‑margin network revenues (third‑party network mix shift).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Overall Revenue Growth
Total net revenues of $555.7M in Q1 2026, up 12.4% year‑over‑year — the company's strongest YoY growth rate in recent years.
Read all positive updates
Company Guidance
Management guided Q2 net revenues of $562–$581 million (implying 10.7%–14.4% YoY growth), with social entertainment expected to deliver low‑ to mid‑single‑digit YoY growth, BIGO Ads mid‑double‑digit YoY growth, and Shopline accelerating to about 25% YoY; they reiterated full‑year views of steady YoY growth for social entertainment, mid‑double‑digit growth for BIGO Ads, double‑digit growth for Shopline and group non‑GAAP operating profit/EBITDA improving in the “steady teens” YoY in 2026, plus sequential operating profit improvement in Q2. Management also flagged near‑term FX headwinds, reiterated strategic milestones—BIGO Audience Network $1 billion revenue target by 2028 and Shopline breakeven by 2028—and announced a $1.5 billion, three‑year shareholder return program (up to $600 million in repurchases and ~$900 million in dividends; $300 million/year dividend and ~$200 million/year buyback authorization).JOYY Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
84
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.68B | 2.12B | 2.24B | 2.27B | 2.41B | 2.62B |
| Gross Profit | 588.07M | 762.63M | 806.20M | 813.03M | 852.13M | 837.90M |
| EBITDA | 124.76M | 322.46M | -120.06M | 430.90M | 810.72M | 119.81M |
| Net Income | 166.95M | 2.10B | -146.24M | 301.82M | 128.89M | -80.29M |
Balance Sheet | ||||||
| Total Assets | 7.58B | 7.55B | 7.52B | 8.48B | 9.07B | 9.12B |
| Cash, Cash Equivalents and Short-Term Investments | 1.12B | 1.21B | 1.81B | 3.31B | 3.94B | 4.39B |
| Total Debt | 51.44M | 31.64M | 31.04M | 488.53M | 907.58M | 940.85M |
| Total Liabilities | 1.02B | 950.46M | 2.76B | 3.19B | 3.57B | 3.49B |
| Stockholders Equity | 6.53B | 6.54B | 4.71B | 5.16B | 5.18B | 5.53B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 158.93M | 224.16M | 213.57M | 247.28M | 25.54M |
| Operating Cash Flow | 0.00 | 302.32M | 308.66M | 295.58M | 316.49M | 210.42M |
| Investing Cash Flow | 0.00 | -456.10M | -210.25M | 420.37M | -510.28M | 789.59M |
| Financing Cash Flow | 0.00 | -288.31M | -707.83M | -841.75M | -321.91M | -723.54M |
JOYY Technical Analysis
Positive
73.95
Price Trends
68.79
Positive
62.94
Positive
61.39
Positive
Market Momentum
1.93
Positive
67.56
Neutral
63.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JOYY, the sentiment is Positive. The current price of 73.95 is above the 20-day moving average (MA) of 72.57, above the 50-day MA of 68.79, and above the 200-day MA of 61.39, indicating a bullish trend. The MACD of 1.93 indicates Positive momentum. The RSI at 67.56 is Neutral, neither overbought nor oversold. The STOCH value of 63.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JOYY.
JOYY Risk Analysis
JOYY disclosed 91 risk factors in its most recent earnings report. JOYY reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
JOYY Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $1.69B | 14.77 | 11.76% | 4.33% | 24.83% | 73.88% | |
79 Outperform | $3.71B | 16.74 | 3.47% | 6.49% | 1.02% | ― | |
76 Outperform | $14.08B | 11.54 | 10.97% | 2.71% | 17.25% | -3.49% | |
67 Neutral | $1.98B | 5.07 | 9.89% | 7.89% | 1.64% | 4.56% | |
64 Neutral | $885.01M | 8.86 | 6.72% | ― | -1.21% | -41.09% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
49 Neutral | $207.46M | -2.79 | -4.86% | ― | -19.42% | -2894.74% |
* Communication Services Sector Average
JOYY
JOYY
74.73
27.46
58.08%
WB
Weibo
7.88
-1.22
-13.42%
MOMO
Hello Group
5.79
-2.01
-25.73%
OPRA
Opera
19.58
4.04
25.99%
TME
Tencent Music Entertainment Group
9.59
-11.82
-55.21%
ZH
Zhihu
3.25
-1.04
-24.24%
JOYY Corporate Events
JOYY Posts Double-Digit Q1 2026 Revenue Growth as Ad Tech and Smart Commerce Accelerate
May 26, 2026
JOYY reported unaudited first-quarter 2026 results on May 26, 2026, posting net revenue of $555.7 million, up 12.4% year over year, driven by a return to growth in social entertainment and rapid expansion in its B2B ad tech and smart commerce busi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.