JOYYJOYY Inc.
Is the business good?
The checks split: nothing decisive, though elite returns on assets.
Margins have held roughly steady, a stable cost structure.
High-quality, exceptional returns on the assets themselves, not leverage. ROE 24% = margin × turnover × leverage.
All from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is JOYY?
JOYY Inc. earns −8.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 17 points below what the capital costs: growth destroys value
- Operating margin
- −21%
Operating margin · Internet Content & Information median 4.9% · fiscal year to FY2020
- Share count, year on year
- +3.6%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 16%
R&D as % of revenue
Details›
- Gross marginfiscal year to FY2020
- 28%
- Operating marginfiscal year to FY2020
- −21%
- Net marginfiscal year to FY2020
- 73%
- Free cash flow margin
- 18%
- R&D as % of revenue
- 16%
- Revenue, trailing twelve months
- $13.2B
- Free cash flow, trailing twelve months
- $2.38B
- Net income, trailing twelve months
- $9.68B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −8.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Internet Content & Information
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