Tuya (TUYA)
NYSE:TUYA
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Tuya
(NYSE:TUYA)
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Rating:67Neutral
Price Target:
$2.50
▲(7.30% Upside)
Action:ReiteratedDate:01/13/26
The score is driven primarily by solid financial quality (strong balance sheet and improving cash flow) and a favorable earnings update highlighting higher profitability and strong liquidity. Offsetting factors include only modest revenue growth, mixed profitability signals in the financial statements, and a lukewarm technical picture with limited momentum. Valuation is balanced by a high P/E despite an attractive dividend yield.
Positive Factors
Strong Cash Flow
The significant growth in operating cash flow indicates robust cash generation, enhancing liquidity and enabling strategic investments.
Negative Factors
Minimal Revenue Growth
Slow revenue growth suggests challenges in market expansion and demand, potentially impacting long-term growth prospects and investor confidence.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Flow
The significant growth in operating cash flow indicates robust cash generation, enhancing liquidity and enabling strategic investments.
Read all positive factors
Tuya (TUYA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.45B
Dividend Yield4.71%
Average Volume (3M)1.84M
Price to Earnings (P/E)22.2
Beta (1Y)1.14
Revenue Growth13.36%
EPS GrowthN/A
CountryUS
Employees1,435
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.03
Shares Outstanding539,516,660
10 Day Avg. Volume609,260
30 Day Avg. Volume1,835,510
Financial Highlights & Ratios
PEG Ratio-1.90
Price to Book (P/B)1.02
Price to Sales (P/S)3.44
P/FCF Ratio13.48
Enterprise Value/Market Cap0.41
Enterprise Value/Revenue1.86
Enterprise Value/Gross Profit3.91
Enterprise Value/Ebitda-28.71
Forecast
1Y Price Target
$3.50Price Target Upside50.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.13
Revenue Forecast (FY)$358.33M
Tuya Business Overview & Revenue Model
Company Description
Tuya Inc. develops Internet of Things (IoT) cloud platform worldwide. The company provides IoT Platform-as-a-Service that enables brands, original equipment manufacturers, and developers to develop, launch, manage, and monetize smart devices and s...
How the Company Makes Money
Tuya generates revenue through a multi-faceted business model that primarily includes service fees from its cloud platform and IoT solutions. Key revenue streams consist of subscription fees for cloud services, licensing fees from manufacturers fo...
Tuya Earnings Call Summary
Earnings Call Date:Mar 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 26, 2026
Earnings Call Sentiment Positive
The call emphasized steady full-year revenue growth (≈7.8%), meaningful margin expansion (gross margin ~48.2%, non-GAAP operating margin +2.9 pp YoY), record non-GAAP net income (USD 80.1M), a strong cash position (>USD 1.0B), and accelerating AI and developer ecosystem momentum (developer base +37%, recurring services +37%). Management flagged short-term caution from conservative procurement, macro/geopolitical uncertainties, and potential semiconductor supply pressures, but conveyed confidence in the company’s resilience, disciplined cost management, and a clear AI-driven strategy to expand higher-margin recurring revenue over time. Overall, positive operational and financial progress outweigh the near-term headwinds.Positive Updates
Full-Year Revenue Growth
Total revenue for fiscal 2025 was reported at approximately USD 322 million (company also referenced USD 320M), representing year-over-year growth of ~7.8%.
Negative Updates
Modest Quarterly Revenue Growth and Transcript Inconsistency
Management reported fourth-quarter year-over-year revenue growth of only 3%. The transcript contains an inconsistency in the Q4 revenue figure (quoted as ~USD 48.5M with a bracketed correction to USD 84.5M), which adds uncertainty to the quarter-level disclosure.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue Growth
Total revenue for fiscal 2025 was reported at approximately USD 322 million (company also referenced USD 320M), representing year-over-year growth of ~7.8%.
Read all positive updates
Company Guidance
Management’s forward guidance emphasized three strategic priorities—strengthen AI‑native platform capabilities, accelerate deployment and scalable expansion of AI application services across key scenarios, and deepen investment in the developer ecosystem—while maintaining cost discipline and shareholder returns (continued dividends, 1–2x/year). Near‑term actions include launching AI development tools this year, leveraging a net cash position of $1,017M to fund AI and ecosystem expansion, and scaling a developer base that reached 1.8M registered AI+IoT developers (+37% YoY) with ~16,000 AI agents; internally ~40% of front‑end code is now AI‑generated. Management expects demand to rebound in 2026 and to convert existing momentum—FY25 revenue ≈$322M (+7.8% YoY), blended gross margin 48.2% (+0.8ppt), non‑GAAP operating margin 10.5% (+2.9ppt), non‑GAAP net income $80.1M—into faster growth of recurring SaaS (SaaS & others $44.8M, recurring +37% YoY), continued PaaS stability (>$230M, 291 premium customers) and Smart Solutions upside ($45.7M, +8.9% YoY).Tuya Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
75
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 318.49M | 298.62M | 229.99M | 208.17M | 302.08M | 179.87M |
| Gross Profit | 151.89M | 141.43M | 106.66M | 89.42M | 127.87M | 61.94M |
| EBITDA | -20.66M | -42.55M | -99.28M | -159.98M | -173.21M | -64.16M |
| Net Income | 29.06M | 5.00M | -60.31M | -146.18M | -175.42M | -66.91M |
Balance Sheet | ||||||
| Total Assets | 1.10B | 1.10B | 1.07B | 1.06B | 1.25B | 267.32M |
| Cash, Cash Equivalents and Short-Term Investments | 834.41M | 847.87M | 789.71M | 954.29M | 1.07B | 179.77M |
| Total Debt | 4.21M | 4.65M | 7.79M | 9.14M | 21.75M | 12.01M |
| Total Liabilities | 93.74M | 96.33M | 95.83M | 93.97M | 134.49M | 431.99M |
| Stockholders Equity | 1.01B | 1.01B | 970.57M | 962.17M | 1.11B | -164.67M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 76.21M | 34.91M | -71.28M | -132.47M | -52.50M |
| Operating Cash Flow | 81.64M | 80.39M | 36.41M | -70.57M | -126.27M | -49.30M |
| Investing Cash Flow | 97.51M | 107.48M | 332.17M | -713.38M | -113.11M | -7.87M |
| Financing Cash Flow | -70.35M | -33.22M | -2.22M | -38.54M | 1.04B | -172.30K |
Tuya Technical Analysis
Positive
2.33
Price Trends
2.29
Positive
2.22
Positive
2.29
Positive
Market Momentum
0.01
Positive
55.75
Neutral
70.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TUYA, the sentiment is Positive. The current price of 2.33 is below the 20-day moving average (MA) of 2.36, above the 50-day MA of 2.29, and above the 200-day MA of 2.29, indicating a bullish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 55.75 is Neutral, neither overbought nor oversold. The STOCH value of 70.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TUYA.
Tuya Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.63B | 11.84 | 7.23% | ― | 10.13% | 1280.04% | |
70 Outperform | $1.72B | 30.33 | 20.61% | 1.33% | 10.27% | 3.52% | |
67 Neutral | $1.45B | 22.24 | 5.77% | 4.71% | 13.36% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
50 Neutral | $949.21M | -4.92 | 526.92% | ― | ― | ― |
* Technology Sector Average
TUYA
Tuya
2.42
0.45
23.16%
RAMP
LiveRamp Holdings
26.59
1.33
5.27%
ATEN
A10 Networks
24.93
9.16
58.09%
RZLV
Rezolve AI
2.54
1.15
82.73%
SUPX
Super X AI Technology
7.49
-2.65
-26.13%
Tuya Corporate Events
Tuya Details December 2025 Share Capital Movements and Equity Incentive Activity
Jan 7, 2026
On January 7, 2026, Tuya Inc. reported to the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange the movements in its share capital for December 2025, confirming that its total authorised share capital remained at 1 billion W...
Tuya Inc. Reports Stable Share Capital Movements for November 2025
Dec 3, 2025
On December 3, 2025, Tuya Inc. submitted a monthly return form to The Stock Exchange of Hong Kong Limited, detailing the movements in its authorized share capital and issued shares for November 2025. The report highlights that there were no change...
Tuya Inc. Reports Strong Q3 2025 Financial Performance
Nov 24, 2025
Tuya Inc. announced its unaudited financial results for the third quarter ended September 30, 2025, showing a revenue increase to $82.5 million, a 1.1% rise year-over-year. The company reported a significant improvement in its financial metrics, w...
Tuya Inc. Reports October 2025 Share Capital Changes
Nov 4, 2025
Tuya Inc. reported changes in its share capital for October 2025, submitting relevant forms to the Hong Kong Stock Exchange. The company maintained its authorized share capital and issued shares, with notable movements in its Class A ordinary shar...
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.