Company Valuation: JOYY Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,542 2,238 2,414 2,253 3,301 3,878 - -
Change - -36.81% 7.85% -6.66% 46.55% 17.47% - -
Enterprise Value (EV) 1 1,698 2,238 -207.4 92.81 2,131 1,873 1,216 1,129
Change - 31.76% -109.27% 144.75% 2,195.9% -12.1% -35.07% -7.18%
P/E -39.9x 19.9x 8.1x -16.4x 1.64x 20.4x 17.8x 14.8x
PBR 0.64x - 0.55x 0.51x 0.52x 0.62x 0.61x 0.6x
PEG - -0x 0x 0x -0x -0.2x 1.2x 0.7x
Capitalization / Revenue 1.35x 0.93x 1.06x 1.01x 1.55x 1.62x 1.48x 1.32x
EV / Revenue 0.65x 0.93x -0.09x 0.04x 1x 0.78x 0.46x 0.38x
EV / EBITDA 9.39x - -1.43x 0.58x 13x 11.2x 6.18x 4.26x
EV / EBIT 23.5x 13.6x -1.59x 0.68x 14.1x 10.5x 5.69x 4.3x
EV / FCF 12.1x - -0.97x 0.41x 13.4x 2.84x 4.1x 3.16x
FCF Yield 8.27% - -103% 242% 7.47% 35.2% 24.4% 31.7%
Dividend per Share 2 2.04 - - - - 5.698 4.911 4.911
Rate of return 4.49% - - - - 7.2% 6.2% 6.2%
EPS 2 -1.14 1.59 4.9 -2.55 39.37 3.885 4.448 5.336
Distribution rate -179% - - - - 147% 110% 92%
Net sales 1 2,619 2,412 2,268 2,238 2,124 2,389 2,621 2,940
EBITDA 1 180.8 - 145.1 161.3 164 166.6 196.7 265.2
EBIT 1 72.15 164 130.5 136.1 150.8 179.2 213.7 262.4
Net income 1 -89.53 119.5 347.4 -147.6 2,097 196.4 230.6 273.1
Net Debt 1 -1,843 - -2,621 -2,160 -1,170 -2,005 -2,662 -2,749
Reference price 2 45.43 31.59 39.70 41.85 64.76 79.19 79.19 79.19
Nbr of stocks (in thousands) 77,958 70,843 60,795 53,829 50,979 48,974 - -
Announcement Date 3/15/22 3/15/23 3/18/24 3/19/25 3/10/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.65x8.13x17.36x0.25% 4,184B
23.36x7.38x12.98x0.29% 1,855B
28.25x13.25x20.94x0.64% 484B
14.53x3.88x8.97x1.4% 483B
18.71x5.55x16.66x-.--% 279B
20.59x1.49x10.26x1.03% 263B
94.21x12.39x66.51x-.--% 195B
21.41x2.45x12.44x-.--% 139B
3.08x86.09x2.34x0.13% 114B
Average 26.75x 15.62x 18.72x 0.42% 888.32B
Weighted average by Cap. 20.76x 8.81x 16.70x 0.36%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield