JOYY Inc (JOYY) Key Metrics
JOYY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.05B
- Enterprise value
- $2.63B
- P/E (TTM)
- 19.8 10-yr median 65.5
- Forward P/E
- 9.8
- PEG ratio
- 0.86
- Price / sales
- 1.8 10-yr median 7.9
- Price / book
- 0.6 10-yr median 0.8
- EV / EBITDA
- 15.9 10-yr median 26.9
- Dividend yield
- 4.36% $5.40 a year
- Beta
- 0.40
JOYY key metrics, 2015–2025
Fiscal year ended December 31, 2025 · U.S. dollarsJOYY valuation Price multiples at each fiscal year-end price.
JOYY returns How much profit the business earns on the capital it uses.
JOYY per-share figures Results divided by the shares outstanding at year-end.
JOYY financial health Debt, liquidity and how easily interest is covered.
JOYY efficiency & capital use Working capital cycle and where the cash goes.
JOYY valuation history
JOYY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
JOYY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
JOYY cash returned to shareholders
JOYY price vs earnings per share
JOYY key metrics
2015–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $3.45B | $2.42B | $2.90B | $2.33B | $3.55B | $4.08B | $3.87B | $6.88B | $2.40B | $3.59B |
| Enterprise value | $2.27B | $644.2M | $83.4M | −$703.7M | $101.0M | $1.15B | $1.79B | $5.63B | $2.03B | $3.56B |
| P/E ratio | 1.6 | — | 9.6 | 18.0 | — | 55.1 | 79.0 | 117.7 | 75.9 | 146.6 |
| Price / sales | 1.6 | 1.1 | 1.3 | 1.0 | 1.4 | 31.2 | 210.3 | 25.5 | 14.1 | 25.7 |
| Price / book | 0.5 | 0.5 | 0.6 | 0.4 | 0.6 | 0.9 | 1.4 | 4.2 | 3.3 | 7.2 |
| Price / free cash flow | 21.7 | 10.8 | 13.6 | 9.4 | 138.9 | 8.2 | 6.5 | 13.6 | 7.6 | 15.0 |
| Price / operating cash flow | 11.4 | 7.8 | 9.8 | 7.4 | 16.9 | 6.2 | 6.0 | 12.1 | 6.9 | 12.8 |
| EV / sales | 1.1 | 0.3 | 0.0 | -0.3 | 0.0 | 8.8 | 97.4 | 20.9 | 11.9 | 25.4 |
| EV / EBITDA | 7.0 | — | 0.2 | — | 0.8 | 8.4 | 115.9 | 76.7 | 45.5 | 59.8 |
| EV / free cash flow | 14.3 | 2.9 | 0.4 | — | 4.0 | 2.3 | 3.0 | 11.1 | 6.4 | 14.9 |
| Earnings yield | 60.8% | −6.0% | 10.4% | 5.5% | −2.3% | 1.8% | 1.3% | 0.8% | 1.3% | 0.7% |
| Free cash flow yield | 4.6% | 9.3% | 7.4% | 10.6% | 0.7% | 12.2% | 15.3% | 7.4% | 13.2% | 6.7% |
| Dividend yield | 4.5% | 0.0% | 2.9% | 6.3% | 4.5% | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 8.4% | 10.7% | 12.3% | 12.2% | 15.7% | 0.6% | 0.8% | — | — | 4.5% |
| Share price at fiscal year-end | $64.76 | $41.85 | $39.70 | $31.59 | $45.43 | $52.79 | $59.86 | $113.06 | $39.42 | $62.47 |
| Per share | ||||||||||
| Revenue per share | $39.88 | $38.65 | $31.00 | $32.75 | $33.53 | $1.69 | $0.28 | $4.43 | $2.80 | $2.43 |
| Earnings per share | $39.40 | −$2.53 | $4.13 | $1.75 | −$1.03 | $0.96 | $0.76 | $0.96 | $0.52 | $0.43 |
| Operating cash flow per share | $5.68 | $5.33 | $4.04 | $4.30 | $2.69 | $8.48 | $10.03 | $9.36 | $5.73 | $4.88 |
| Free cash flow per share | $2.98 | $3.87 | $2.92 | $3.36 | $0.33 | $6.46 | $9.15 | $8.32 | $5.18 | $4.16 |
| Cash per share | $22.70 | $31.26 | $45.24 | $53.47 | $56.18 | $48.65 | $32.16 | $22.01 | $12.63 | $7.56 |
| Book value per share | $122.82 | $81.39 | $70.50 | $70.32 | $70.78 | $61.20 | $41.61 | $26.72 | $11.95 | $8.67 |
| Tangible book value per share | $77.46 | $33.46 | $25.40 | $24.45 | $36.98 | $28.14 | $37.41 | $21.98 | $7.34 | $7.87 |
| Dividends per share | $2.92 | $0.00 | $1.15 | $1.98 | $2.05 | — | — | — | — | — |
| Capex per share | $2.69 | $1.46 | $1.12 | $0.94 | $2.37 | $2.02 | $0.88 | $1.05 | $0.55 | $0.72 |
| Debt per share | $0.59 | $0.54 | $6.68 | $12.32 | $12.05 | $10.82 | $0.02 | $1.50 | $6.56 | $6.95 |
| Shares outstanding | 53.3M | 57.9M | 73.1M | 73.6M | 78.1M | 77.2M | 64.7M | 60.8M | 60.8M | 57.5M |
| Change in shares outstanding | −8.0% | −20.9% | −0.7% | −5.7% | +1.1% | +19.4% | +6.4% | +0.0% | +5.7% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 37.3% | −3.0% | 5.8% | 2.4% | −1.5% | 2.0% | 2.3% | 5.0% | 5.2% | 4.9% |
| Return on invested capital (ROIC) | 1.2% | 1.4% | 1.5% | 2.3% | −4.2% | −4.9% | −5.1% | 14.6% | 7.5% | 5.0% |
| Return on assets (ROA) | 27.8% | −1.8% | 3.4% | 1.4% | −0.9% | 1.3% | 1.6% | 3.2% | 2.5% | 2.2% |
| Return on tangible assets | 40.9% | −3.1% | 5.8% | 2.3% | −1.2% | 1.5% | 1.4% | 3.0% | 2.8% | 2.3% |
| Free cash flow margin | 7.5% | 10.0% | 9.4% | 10.3% | 1.0% | 381.6% | — | 187.7% | 185.4% | 170.9% |
| Income quality (OCF / net income) | 0.14 | — | 0.98 | 2.46 | — | 8.85 | 13.23 | 9.75 | 11.04 | 11.46 |
| Financial health | ||||||||||
| Total debt | $31.6M | $31.0M | $488.5M | $907.6M | $940.9M | $835.3M | $997,674 | $91.1M | $398.7M | $400.1M |
| Cash & short-term investments | $1.21B | $1.81B | $3.31B | $3.94B | $4.39B | $3.76B | $2.08B | $1.34B | $767.8M | $435.0M |
| Net debt | −$1.18B | −$1.78B | −$2.82B | −$3.03B | −$3.45B | −$2.92B | −$2.08B | −$1.25B | −$369.1M | −$34.9M |
| Debt / equity | 0.00 | 0.01 | 0.09 | 0.18 | 0.17 | 0.18 | 0.00 | 0.06 | 0.55 | 0.80 |
| Debt / assets | 0.00 | 0.00 | 0.06 | 0.10 | 0.10 | 0.11 | 0.00 | 0.04 | 0.28 | 0.35 |
| Net debt / EBITDA | −3.65 | — | −6.55 | −3.74 | −28.77 | −21.29 | −134.33 | −17.01 | −8.28 | −0.59 |
| Current ratio | 1.85 | 0.96 | 1.32 | 1.51 | 2.02 | 3.77 | 4.28 | 3.22 | 1.27 | 2.62 |
| Quick ratio | 1.85 | 0.96 | 1.32 | 1.40 | 1.90 | 3.68 | 4.22 | 3.22 | 1.27 | 2.61 |
| Interest coverage | 107.9 | 9.8 | 3.4 | 5.1 | -7.7 | -2.0 | -22.2 | 12.8 | 3.1 | 1.8 |
| Working capital | $745.4M | −$117.8M | $986.2M | $1.57B | $2.56B | $3.02B | $1.84B | $1.07B | $184.3M | $345.9M |
| Invested capital | $5.36B | $2.93B | $2.34B | $2.15B | $2.08B | $1.80B | $613.0M | $377.4M | $357.7M | $464.1M |
| Tangible asset value | $4.19B | $1.99B | $1.99B | $2.13B | $2.99B | $3.00B | $2.90B | $1.43B | $448.8M | $463.7M |
| Net current asset value | $668.9M | −$203.9M | $878.8M | $1.08B | $1.58B | $2.21B | $1.82B | $1.06B | $179.5M | −$60.0M |
| Graham number | $329.97 | — | $80.90 | $52.62 | — | $36.32 | $26.64 | $24.03 | $11.82 | $9.12 |
| Graham net-net per share | $10.09 | −$14.83 | $4.60 | $9.74 | $16.01 | $26.24 | $25.77 | $14.38 | $2.18 | −$2.82 |
| Capital allocation | ||||||||||
| Dividends paid | $155.5M | $0 | $84.2M | $145.9M | $160.1M | — | — | — | — | — |
| Share buybacks (net) | $132.8M | $259.4M | $273.9M | $138.1M | $398.6M | $24.4M | $30.0M | — | — | $160.5M |
| Dividend payout ratio | 7.4% | — | 27.9% | 113.2% | — | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 181.4% | 115.7% | 167.7% | 114.9% | — | 4.9% | 5.1% | — | — | 67.1% |
| Capex / revenue | 6.8% | 3.8% | 3.6% | 2.9% | 7.1% | 119.5% | 310.1% | 23.6% | 19.7% | 29.8% |
| Capex / operating cash flow | 47.4% | 27.4% | 27.7% | 21.9% | 87.9% | 23.8% | 8.8% | 11.2% | 9.6% | 14.8% |
| Capex / depreciation | 1.36 | 0.82 | 0.62 | 0.42 | 1.01 | 1.07 | 20.80 | 11.80 | 5.63 | 1.41 |
| Stock-based compensation / revenue | 1.2% | 1.0% | 1.4% | 1.8% | 1.3% | 103.7% | 511.5% | 14.6% | 13.3% | 20.4% |
| R&D / revenue | 11.6% | 12.5% | 13.0% | 10.9% | 10.7% | 26.3% | 62.1% | 6.7% | 8.2% | 9.3% |
| SG&A / revenue | 21.7% | 21.7% | 21.7% | 5.9% | 8.5% | 15.1% | 103.2% | 4.7% | 5.9% | 6.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 42.4 | 33.9 | 42.2 | 38.2 | 38.2 | 513.3 | 2,347.7 | 66.7 | 94.1 | 71.9 |
| Days of inventory on hand | — | — | 44.3 | 75.9 | 60.9 | 240.6 | 358.3 | 0.4 | 4.4 | 9.5 |
| Days payables outstanding | 20.9 | 19.2 | 15.4 | 8.7 | 3.7 | 65.0 | 321.1 | 35.1 | 68.6 | 85.9 |
| Cash conversion cycle (days) | 21.6 | 14.7 | 71.1 | 105.4 | 95.4 | 688.9 | 2,384.9 | 32.0 | 29.9 | -4.5 |
| Receivables turnover | 8.61 | 10.75 | 8.65 | 9.57 | 9.56 | 0.71 | 0.16 | 5.47 | 3.88 | 5.08 |
| Payables turnover | 17.51 | 18.99 | 23.70 | 42.14 | 98.89 | 5.62 | 1.14 | 10.39 | 5.32 | 4.25 |
| Inventory turnover | — | — | 8.24 | 4.81 | 5.99 | 1.52 | 1.02 | 872.29 | 83.19 | 38.34 |
| Asset turnover | 0.28 | 0.28 | 0.26 | 0.27 | 0.29 | 0.02 | 0.01 | 0.15 | 0.13 | 0.12 |
| Average receivables | $246.8M | $208.1M | $262.1M | $252.1M | $273.8M | $183.8M | $118.5M | $49.3M | $43.8M | $27.6M |
| Average payables | $77.8M | $75.4M | $61.4M | $37.0M | $18.0M | $17.0M | $14.2M | $15.7M | $19.9M | $20.0M |
| Average inventory | — | — | $176.6M | $324.2M | $297.3M | $62.8M | $15.8M | $187,291 | $1.3M | $2.2M |
| Intangibles / total assets | 32.0% | 36.9% | 38.9% | 37.2% | 29.0% | 34.2% | 7.3% | 13.0% | 19.9% | 4.1% |
Computed from JOYY's annual financial statements (latest annual report filed April 28, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
JOYY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), JOYY traded at 1.6 times earnings, against a 10-year median of 65.5. Based on the latest twelve months, the trailing P/E is 19.8 and the forward P/E is 9.8. JOYY earned a return on equity of 37.3% and a return on invested capital of 1.2% in fiscal 2025. It ended the year with $31.6 million of debt and $1.2 billion in cash and short-term investments, a net cash position of $1.2 billion. It returned $288.3 million to shareholders: $155.5 million in dividends and $132.8 million in share buybacks, 181% of free cash flow. The share count fell 7.4% from 57.5M to 53.3M over 9 years.
See the JOYY income statement, the JOYY chart for price history, or the JOYY stock overview for the latest quote and news.
JOYY key metrics FAQ
What is JOYY's P/E ratio?
JOYY's trailing P/E ratio is 19.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.8. At the end of fiscal 2025 it was 1.6, compared with a 10-year median of 65.5.
What is JOYY's EV/EBITDA?
JOYY's enterprise value was 7.0 times EBITDA at the end of fiscal 2025 (enterprise value $2.3 billion, EBITDA $322.5 million); the current EV/EBITDA is 15.9.
What is JOYY's return on equity?
JOYY's return on equity (ROE) was 37.3% in fiscal 2025: net income of $2.1 billion on average shareholders' equity of $5.6 billion.
What is JOYY's ROIC?
JOYY's return on invested capital was 1.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does JOYY have?
JOYY had total debt of $31.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.00 and more cash than debt.
What is JOYY's dividend yield?
JOYY's forward dividend yield is 4.36%. JOYY paid $155.5 million in dividends in fiscal 2025 ($2.92 per share), a payout ratio of 7.4%.
Does JOYY buy back its shares?
Yes. JOYY spent $132.8 million on net share repurchases in fiscal 2025 Shares outstanding changed −8.0% over the year, to 53.3M..
What is JOYY's free cash flow yield?
JOYY generated $158.9 million of free cash flow in fiscal 2025, a free cash flow yield of 4.6% on its market value at year-end ($3.4 billion).
What is JOYY's current ratio?
JOYY's current ratio was 1.85 at the end of fiscal 2025: current assets were 1.85 times current liabilities.