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Tuya (TUYA)
NYSE:TUYA
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Tuya
(NYSE:TUYA)
Rating:73Outperform
Price Target:
$3.00
▲(19.05%Upside)
Tuya (TUYA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.65B
Dividend Yield4.32%
Average Volume (3M)1.89M
Price to Earnings (P/E)77.2
Beta (1Y)1.01
Revenue Growth27.63%
EPS GrowthN/A
CountryUS
Employees1,435
SectorTechnology
Sector Strength86
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.03
Shares Outstanding539,516,660
10 Day Avg. Volume2,009,303
30 Day Avg. Volume1,886,630
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)1.66
Price to Sales (P/S)0.00
P/FCF Ratio22.29
Enterprise Value/Market Cap0.56
Enterprise Value/Revenue0.80
Enterprise Value/Gross Profit6.21
Enterprise Value/Ebitda-4.36
Forecast
1Y Price Target
$2.50Price Target Upside-0.79% Downside
Rating ConsensusHold
Number of Analyst Covering0
Tuya Business Overview & Revenue Model
Company DescriptionTuya Inc. (TUYA) is a global Internet of Things (IoT) cloud platform headquartered in China. The company provides a comprehensive suite of IoT solutions that enable manufacturers, brands, Original Design Manufacturers (ODMs), and retail chains to develop and manage smart devices and applications. Tuya's platform offers cloud services, connectivity, and app development tools to create a wide range of smart home, smart business, and smart city products, facilitating a seamless integration across various IoT ecosystems.
How the Company Makes MoneyTuya Inc. primarily generates revenue through its cloud platform services, which include subscription fees for access to its IoT development tools and platform capabilities. The company also earns revenue from charging device activation fees when smart devices integrated with its platform are activated. Additionally, Tuya offers value-added services such as advanced data analytics and Artificial Intelligence (AI) capabilities, which are provided to businesses seeking to enhance their IoT products and user experiences. Strategic partnerships with major technology companies and ongoing collaborations with manufacturers and brands further contribute to Tuya's revenue streams by expanding its market reach and facilitating the adoption of its platform across diverse industries.
Tuya Earnings Call Summary
Earnings Call Date:May 20, 2025
(Q1-2025)
| % Change Since: -2.33%|
Next Earnings Date:Sep 01, 2025
Earnings Call Sentiment Positive
The earnings call for Tuya Inc. highlighted strong revenue growth, record net profit, and strategic expansion in AI and smart solutions, despite challenges in the smart electronics sector and market uncertainties due to tariffs. The company demonstrated operational efficiency and received an ESG rating upgrade, contributing to a positive outlook.Q1-2025 Updates
Positive Updates
Strong Revenue Growth
Tuya Inc. achieved approximately 21% year-over-year revenue growth in Q1 2025, reaching $74.7 million.
Record GAAP Net Profit
Tuya Inc. reported a record GAAP net profit with a net profit margin of around 15%, a significant improvement year-over-year.
Robust Regional Performance
Europe accounted for about one-third of total revenue, with strong contributions from Asia Pacific, China, and Latin America, maintaining a diversified revenue structure.
AI and Smart Solutions Expansion
The launch of Tuya's AI agent development platform and smart solutions like AI energy assistance and video AI products indicate strategic expansion in AI capabilities.
Operational Efficiency
Net operational expenses decreased by nearly 18% year-over-year, with a substantial reduction in share-based compensation expenses.
MSCI ESG Rating Upgrade
Tuya Inc.’s ESG rating was upgraded from single A to double A by MSCI, particularly excelling in secure and compliance fields.
Negative Updates
Challenges in the Smart Electronics Sector
The smart consumer electronics sector faced immense challenges due to geopolitical pressures and trade fluctuations, impacting upstream and downstream supply chains.
Tariff-Induced Market Uncertainties
The introduction of new tariffs led to short-term uncertainties and conservative behavior among international trading partners, affecting demand cycles.
Company Guidance
During Tuya Inc.'s first quarter 2025 earnings call, several key metrics were highlighted. The company reported a 21.1% year-over-year revenue growth, reaching approximately $74.7 million. The net profit margin stood at around 15%, with a non-GAAP net profit of $19.3 million, marking a 60% increase year-over-year. The company maintained a blended gross margin of about 48.5%, with SaaS gross margin reaching 74.4%. Regional revenue contributions included Europe at one-third of total revenue, while Asia Pacific, excluding China, China, and Latin America each contributed around 15%. Operational expenses decreased by nearly 18% from the previous year, largely due to reduced share-based compensation expenses. Looking ahead, Tuya emphasized its strategic focus on AI capabilities, with significant developments including the Tuya AI agent development platform, aiming to enhance smart consumer electronics and AIoT products globally.Tuya Financial Statement Overview
Summary
Tuya demonstrates strong revenue growth and financial stability, with a robust balance sheet and improved cash flow. However, profitability remains a concern due to negative EBIT margins, indicating the need for enhanced cost control and operational efficiency.Income Statement
Tuya has shown significant revenue growth, moving from $179.87 million in 2020 to $311.64 million in TTM 2025, indicating strong upward momentum. The gross profit margin improved to 47.55% in TTM 2025, reflecting efficient cost management. However, the company still faces profitability challenges, evidenced by a negative EBIT margin of -10.49% in TTM 2025. Overall, Tuya's revenue trajectory is promising, but profitability remains an area for improvement.70
Positive
Balance Sheet
Tuya maintains a robust financial position with a high equity ratio of 88.52% in TTM 2025, suggesting a strong reliance on equity financing. The debt-to-equity ratio is low at 0.005, which minimizes financial risk. With a positive return on equity of 1.98% in TTM 2025, the company is improving its shareholder value, though there is room for further enhancement.85
Very Positive
Cash Flow
Tuya's operating cash flow has turned positive, reaching $75.21 million in TTM 2025, demonstrating effective cash management. The free cash flow also shows positive growth, enhancing financial flexibility. However, the operating cash flow to net income ratio of 3.84 indicates reliance on non-operational influences, suggesting the need for sustained operational profitability.78
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 298.62M | 229.99M | 208.17M | 302.08M | 179.87M |
| Gross Profit | 141.43M | 106.66M | 89.42M | 127.87M | 61.94M |
| EBITDA | -42.87M | -99.28M | -159.98M | -173.21M | -64.16M |
| Net Income | 5.00M | -60.31M | -146.18M | -175.42M | -66.91M |
Balance Sheet | |||||
| Total Assets | 1.10B | 1.07B | 1.06B | 1.25B | 267.32M |
| Cash, Cash Equivalents and Short-Term Investments | 847.87M | 789.71M | 954.29M | 1.07B | 179.77M |
| Total Debt | 4.65M | 7.79M | 9.14M | 21.75M | 12.01M |
| Total Liabilities | 96.33M | 95.83M | 93.97M | 134.49M | 98.32M |
| Stockholders Equity | 1.01B | 970.57M | 962.17M | 1.11B | 169.00M |
Cash Flow | |||||
| Free Cash Flow | 67.25M | 34.94M | -71.36M | -132.30M | -52.41M |
| Operating Cash Flow | 80.35M | 36.44M | -70.65M | -126.10M | -49.21M |
| Investing Cash Flow | 107.43M | 332.45M | -714.23M | -112.96M | -7.85M |
| Financing Cash Flow | -33.20M | -2.22M | -38.58M | 1.04B | -172.00K |
Tuya Technical Analysis
Positive
2.52
Price Trends
2.54
Negative
2.68
Negative
2.35
Positive
Market Momentum
0.01
Negative
50.82
Neutral
34.87
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 2.52 is above the 20-day moving average (MA) of 2.48, below the 50-day MA of 2.54, and above the 200-day MA of 2.35, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 50.82 is Neutral, neither overbought nor oversold. The STOCH value of 34.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TUYA.
Tuya Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $9.17B | 35.44 | 30.28% | ― | 27.39% | 115.40% | |
73 Outperform | $1.65B | 77.25 | 1.98% | 4.32% | 27.63% | ― | |
65 Neutral | $9.04B | ― | -4.73% | ― | 33.95% | 87.03% | |
63 Neutral | $34.70B | 4.89 | -11.39% | 1.66% | 5.53% | -19.00% | |
61 Neutral | $296.48M | ― | -89.29% | ― | 2.40% | 54.99% | |
59 Neutral | $297.56M | ― | -74.75% | ― | 21.81% | 28.80% |
* Technology Sector Average
Performance Comparison
TUYA
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2.52
1.04
70.27%
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32.74
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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.