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MARKETS / NASDAQ / JOYY
NASDAQ · SERVICES-COMPUTER PROCESSING & DATA PREPARATION · LARGE CAP

Joyy Inc. JOYY

16 fiscal years on record · CNY · FY2025 reported · SEC filings only
$2.1B
▼ 5.1% YoY
$2.1B
CNY 159.2M
▼ 29.2% YoY
In brief

What this company does

It serves a global user base of 272.1 million monthly active users, as of the fourth quarter of 2025, across North America, Europe, the Middle East, and Southeast Asia, through a product matrix spanning live streaming, short videos, instant messaging, and casual games. Its total revenue amounted to US$2.3 billion in 2023, US$2.2 billion in 2024, and US$2.1 billion in 2025. As of December 31, 2025, its research and development team consisted of over 2,000 professionals focused on designing and developing its proprietary products and various interactive technologies. Its data centers are mainly located in Asia, Europe, and the Americas. It generates revenue through a diversified mix of global social engagement and business-to-business technology solutions. In 2025, virtual tips for live streaming accounted for 72.0% of its revenues. In 2025, advertising revenues, primarily from BIGO Ads, accounted for 20.8% of its total net revenues. In 2025, e-commerce and other revenues collectively accounted for 7.1% of its total net revenues.

Written from the business description in JOYY Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 28 April 2026. Every sentence was checked against that document before publication.

Growth
USD 2.1B
Revenue, FY2025 · full 16-year series below
Revenue CNY B Net income CNY B
FY2018 · Revenue 0.8 · Net income 2.2
4B8B201020122014201620182020202220242025
Compound annual growth
−4.1%
+2.1%
+153.4%
+8.9%
+190.9%
+0.5%
+11.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +2.1% a year over five years — but profit grew faster: net income at +8.9%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
98 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 2.6% · Net 98.3%
100%200%-50%-100%-150%201020122014201620182020202220242025
ROE
FY2025 · ROE 37.3%
20%40%201020122014201620182020202220242025

Each CNY of equity produced 37 cents of profit this year.

Cash & shareholders
CNY 288.2M
returned in FY2025 · dividends + net buybacks
Free cash flow CNY B
FY2025 · FCF 0.2
2B4B201020122014201620182020202220242025
Net buybacks CNY B Dividends CNY B
FY2025 · Dividends 0.2 · Net buybacks 0.1
0.4B0.8B-1.0B-2.0B201520172019202120232025

USD 155.5M in dividends and CNY 132.7M in buybacks — 14% of the year's profit went back to shareholders.

Total assetsUSD 7.6B
EquityUSD 6.5B
CashUSD 374.2M
Gross debtUSD 10.7M
Net debtUSD -363.6M
Current ratio1.85×

The company holds more cash than debt.

The 16-year record
16 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019201820172016201520142013201220112010
Revenue CNY B·······0.811.68.25.93.71.80.80.30.1
Operating income CNY B·······−1.32.71.81.21.10.50.1−0.1−0.2
EBITDA CNY B0.1−0.40.10.10.0−0.3−0.5−1.22.91.91.31.10.50.1−0.1−0.2
Income tax CNY B·······0.10.40.30.20.20.10.00.00.0
Net income CNY B·······2.22.51.51.01.10.50.1−0.1−0.2
Free cash flow CNY B0.20.20.20.20.10.30.54.23.32.31.61.10.80.30.10.0
EPS, diluted CNY ·····0.850.321.272.071.320.900.890.400.09−0.63−5.04
Dividend / sh CNY ······0.000.000.00·······
Payout %7−028113−199500········
ROE %37.3−3.05.82.4−1.4··15.232.136.832.642.829.8···

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 8 failures in 78 reconciliationsAUDITED

Reconciled in 8 of 19 fiscal years. 17 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente8 failures
ActivityServices-Computer Processing & Data Preparation
Listed onNASDAQ
Incorporated innot stated in the filings
Fiscal year endsnot stated in the filings
Data on record since2010

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