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JOYY Inc (JOYY) Fair Value & Analysis

Communication Services · US · Market cap $3.3B · ISIN US45687D1063

What is JOYY Inc really worth?

JI JOYY Inc logo JOYY Inc JOYY · US
Price$74.59
Fair Value$218.31
Upside+192.7%
Quality65/100

A solid business, trading 66% below our fair value of $218.31.

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Strengths

Solidly profitable · 10.4% net margin
Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y +48.5 %/yr)
!Mixed vs. peers (8/15)
!Narrow moat 24/100

For context

·5.68% dividend yield
Evidence: High Range $163.73 – $272.89

Fair value as of: Aug 27, 2026

From 26 valuation models · updated 8 days ago

Fair value updated Aug 27, 2026, revised from $139.59 to $218.31 (+56.4%) since Aug 20, 2026. Share price −0.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case ($163.73). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

$75.00 $19.37 Fair Value $218.31 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range $19.37 – $75.00 · fair‑value band $163.73 – $272.89 · the $74.59 price screens below the $218.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

JOYY Inc (JOYY) currently trades at $74.59, while our model-based Fair Value estimate is $218.31, implying the stock looks roughly 65.8% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Communication Services sector. Bull case: the Growth Earnings group reads highest at a median of $1,830 per share, and 14 of the 26 models we run sit above the $74.59 price. Bear case: the Growth DCF group reads lowest at $35.70, and 12 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, JOYY Inc generated revenue of $2.2B at a net margin of 10.4%. Revenue grew 12.4% year over year. It earns a return on equity of −25.2%. The balance sheet holds a net cash position of $364M. Fundamentals as of Aug 27, 2026

Our scenario range runs from $163.73 (bear case) to $272.89 (bull case); at $74.59, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 62% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at −6% fair-value upside, at 193%, JOYY screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.0839 per share, which is 0.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
EPV best evidence $6.62 $7.68 $8.60 72
FCF DCF $47.36 $72.97 $152.82 70
Growth DCF $44.47 $84.74 $149.60 69
All 26 models by family
DCF Models
FCF DCF $47.36 $72.97 $152.82 70
Owner Earnings $574.43 $1,273 $2,686 66
5Y Revenue Exit $21.01 $31.13 $51.85 66
5Y EBITDA Exit $33.63 $56.64 $101.65 67
5Y P/E Exit $493.46 $1,252 $2,310 62
10Y Revenue Exit $28.86 $51.14 $61.50 63
10Y EBITDA Exit $38.28 $77.70 $144.00 60
10Y P/E Exit $366.32 $1,045 $2,219 54
Earnings-Based
Graham-Dodd $267.91 $1,868 $2,622 57
Lynch FV $965.25 $1,379 $1,793 55
PEG = 1.0 $965.25 $1,379 $1,793 51
EPV best evidence $6.62 $7.68 $8.60 72
Dividend Discount
Gordon GGM $25.65 $51.10 $77.38 60
DDM Multi-Stage $25.65 $44.16 $53.94 61
Multiples
P/E Multiple $650.07 $866.76 $1,083 61
P/S Multiple $104.69 $139.59 $174.49 56
P/B Multiple $322.41 $429.88 $537.35 53
EV/EBIT $12.48 $16.67 $20.86 65
EV/EBITDA $27.21 $36.32 $45.42 66
EV/Revenue $9.44 $13.52 $17.61 52
Asset-Based
NCAV (Graham) $61.41 $82.29 $122.82 52
Growth DCF
Growth DCF $44.47 $84.74 $149.60 69
Rev-Margin DCF $22.89 $35.70 $62.94 65
Economic Profit
Residual Income $303.83 $475.05 $5,836 58
ROIC Compounder $6.62 $7.68 $8.60 67
Growth Earnings
Growth-Adj P/E $1,281 $1,830 $2,380 62

Widest divergence: Growth Earnings ($1,830) versus Economic Profit ($7.68). Highest evidence: EPV (72).

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Key figures & financial health

P/E ratio 15.1 as of Jun 21, 2026
P/S ratio 14.9 P/E × margin
EPS (TTM) $4.36 price ÷ EPS = P/E 15.1
Dividend yield 5.7% payout 97.2%
Net margin 98.8% FY2025
Return on equity −25.2% TTM
More key figures
Profitability
Return on assets (EBIT) 0.3% avg 5y
Operating margin 1.3% TTM
Growth
Revenue (TTM) $2.2B TTM
Revenue growth (YoY) +12.4% 3y avg −4.1%
EPS growth (YoY) −97.2%
Balance sheet & cash flow
Free cash flow $159M FY2025
Net cash $364M FY2025

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 66 · Market factors (momentum, volatility) 76

Profitability 66
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

JOYY Inc., together with its subsidiaries, engages in the provision of social product matrix and communication technology. It operates through two segments, BIGO and All Other.

Full company description

JOYY Inc., together with its subsidiaries, engages in the provision of social product matrix and communication technology. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people; imo, an instant messenger platform that provides audio and video communication services; and Likee, a short video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds. It also provides Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; Bigo Ads, an AI-powered programmatic advertising platform, which provides one-stop marketing and monetization solutions; and Shopline, a smart commerce platform that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores. The company operates in North America, Europe, the Middle East, Southeast Asia, and internationally. The company was formerly known as YY Inc. and changed its name to JOYY Inc. in December 2019. JOYY Inc. was founded in 2005 and is headquartered in Singapore.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

JOYY Inc reported revenue of $2.1B in FY2025 versus $2.6B in FY2021, a compound −5.1%/yr. Reported net income was $2.1B in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$2.1B
Latest YoY
−5.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+48.5%
Avg. revenue growth/yr (16Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+65.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+91.2% (85.5 + 5.7)
Revenue −5.1%/yr
FY21 $2.6B
FY22 $2.4B
FY23 $2.3B
FY24 $2.2B
FY25 $2.1B
Net income
FY21 −$80.3M
FY22 $129M
FY23 $302M
FY24 −$146M
FY25 $2.1B
Character of growth · EPS growth decomposed (2014-2025) +50.8 % p.a.
Revenue per share +35.3 %

of which total revenue +36.3 % · buybacks/dilution −0.7 %

EBIT margin −23.4 %
Tax rate +1.6 %
Residual (interest, one-offs) +43.2 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "JOYY Inc Fair Value". https://www.fairvalue-calculator.com/stock/JOYY

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Internet Content & Information · 153 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 65 · Above median
Fair Value upside +193% · Top 25%
Return on assets 0% · Below median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth 12% · Above median
Dividend yield (TTM) 5.7% · Top 25%
Debt / equity 0.06× · Higher than median

Valuation Multiples vs Internet Content & Information median · lower = cheaper

P/E (TTM) 15.1× · Cheaper than median
P/B 0.51× · Cheaper than 75% of peers
P/S (TTM) 1.52× · Pricier than median
P/FCF 20.8× · Pricier than 75% of peers
EV/EBITDA 21.7× · Pricier than 75% of peers
PEG 0.86× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 0
FUTURE62 · sector 31
PAST0 · sector 9
HEALTH97 · sector 98
DIVIDEND100 · sector 36

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Internet Content & Information stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Alphabet Inc GOOGL $340.65 $145.14 −57%
Meta Platforms, Inc META $571.10 $534.91 −6%
Tencent Holdings 0700 HK$455.20 HK$449.03 −1%
Spotify Technology S.A SPOT $547.51 $211.87 −61%
Reddit, Inc RDDT $153.29 $39.59 −74%
Baidu, Inc 89888 HK$79.10 HK$28.84 −64%
Kuaishou Technology, an investment holding company, 81024 HK$34.50 HK$63.28 +83%
NAVER Corporation 035420 213,500 KRW 231,585 KRW +8%
Tencent Music Entertainment Group 1698 HK$35.14 HK$66.77 +90%
REA Group REA A$177.42 A$88.53 −50%

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Frequently asked questions

Is JOYY Inc (JOYY) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of $218.31 versus a price of $74.59, about +193% upside (undervalued).
What is the fair value of JOYY?
Our model-based fair value for JOYY Inc is $218.31 (as of Aug 27, 2026), built from audited fundamentals. The current price: $74.59.
What is the quality score of JOYY?
JOYY Inc has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of JOYY Inc (JOYY)?
JOYY Inc reported trailing-twelve-month revenue of about $2.2B (latest available figure, as of Aug 27, 2026).
What is the net profit margin of JOYY?
The net profit margin of JOYY Inc is about 10.4%, meaning it keeps roughly 10.4% of revenue as net income. Based on the latest reported figures.
Does JOYY Inc pay a dividend?
JOYY Inc currently shows a dividend yield of about 5.68% relative to its recent price (as of Aug 27, 2026).
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