$2.25-26% 1Y

Is the business good?

Mixed

Margins steady. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.

1 neutral, 3 without data
Margin direction, 3 yearsStablederived

Margins have held roughly steady, a stable cost structure.

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.

How good a business is HUYA?

HUYA Inc. earns −3.0% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.

−3.0%

Return on invested capital · cost of capital 9.0% · 12 points below what the capital costs: growth destroys value

Operating margin
−2.5%

Operating margin · Entertainment median 4.3% · fiscal year to FY2025

Share count, year on year
−1.2%

Share count, year on year · bought back, each share owns more of the company

R&D as % of revenue
7.6%

R&D as % of revenue

Operating margin by fiscal year
YearOperating margin
FY20206.6%
FY2021−0.27%
FY2022−8.0%
FY2023−6.3%
FY2024−3.1%
FY2025−2.5%
Details›
Gross marginfiscal year to FY2025
13%
Operating marginfiscal year to FY2025
−2.5%
Net marginfiscal year to FY2025
−1.7%
Free cash flow margin
−5.3%
R&D as % of revenue
7.6%
Revenue, trailing twelve months
$6.50B
Free cash flow, trailing twelve months
−$344M
Net income, trailing twelve months
−$113M
Return on invested capitaloperating profit after tax ÷ debt + equity − cash
−3.0%

Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.