JOYYJOYY Inc.

$74.86

Is the business good?

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.

−8.3%

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 6.3% · fiscal year to FY2020

Cash conversion
0.25×

Cash conversion · 1.08× a year ago · some of the reported profit has not turned into cash yet

Share count, year on year
+3.6%

Share count, year on year · shareholders own a smaller slice than a year ago

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 from the cash flow statement.