| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 63 | 18.0x | 17.8x | Around median | |
Growth | 30 | 7.6% | 7.1% | Bottom tier | |
Quality | 37 | 0.6% | 4.5% | Bottom tier | |
Safety | 94 | — | 2.6x | Top tier | |
Capital Return | 44 | 0.09% | 2.12% | Around median | |
Momentum | 92 | 41.7% | 2.9% | Top tier | |
Sentiment | 88 | 7 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
JOYY is a global technology company building a multi-engine ecosystem around social entertainment, programmatic advertising, and omnichannel commerce. The social entertainment segment generates revenue primarily from live streaming and audio products, including spending on virtual gifts, while BIGO Ads generates revenue from advertising through its first-party business and the third-party BIGO Audience Network. Shopline combines recurring merchant subscriptions with value-added services, such as payments and marketing, linking part of its revenue to growth in merchant orders and gross merchandise value.
In fiscal Q2 2026, JOYY generated approximately $591 million in revenue, up 16.3% year over year and 6.3% quarter over quarter. Social entertainment accounted for $423 million, or approximately 71.6% of revenue, compared with $134 million for BIGO Ads and $34 million for Shopline, while the contribution of non-live-streaming revenue exceeded 31.8% of the total. Gross profit was $202 million, with a gross margin of 34.1%, and adjusted operating profit reached $49 million, up 28.2%, while adjusted net income attributable to the controlling interest was $63 million, with a margin of 10.7%.
The company generated $65 million in operating cash flow in fiscal Q2 2026 and held net cash of $3.06 billion as of June 30, 2026. Through August 21, 2026, it returned $359 million to shareholders, comprising $216 million in share repurchases and $142 million in dividends, under a $1.5 billion shareholder returns program extending through the end of 2028. The growth model combines a recovery in the core business, rapid expansion in advertising and commerce, and the use of artificial intelligence in content distribution, ad targeting, the checkout experience, and merchant operations.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average price target of $80.5 and a target range of $74 to $87. The average target is only $0.4 below the 52-week high of $80.9, while the highest target exceeds that peak by approximately $6.1; this reflects expectations for continued BIGO Ads growth, a recovery in social entertainment, and improved profitability. Conversely, the lowest target of $74 highlights the risks of slowing growth, pressure from a lower-margin revenue mix, foreign exchange losses, and delays in Shopline reaching its targeted operating break-even in 2028.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Revenue rose 16.3% year over year to $591 million, with simultaneous growth across all three segments. Social entertainment generated $423 million, BIGO Ads approximately $134 million, and Shopline approximately $34 million. Adjusted operating profit increased 28.2% to $49 million, while adjusted net income attributable to the controlling interest was $63 million.
Live-streaming revenue grew 7.3% year over year and 5.9% quarter over quarter in fiscal Q2 2026. The number of core paying users increased 3.9% year over year, while average revenue per paying user rose 2.4%. Management expects mid-single-digit annual growth in social entertainment in fiscal Q3 2026 and annual growth in the business for the full fiscal 2026.
BIGO Ads generated revenue of $134 million in fiscal Q2 2026, up 53.1% year over year. The third-party BIGO Audience Network grew 74.1%, supported by a 37.7% increase in software development kit traffic and a 91.7% increase in web advertising demand. Management is targeting BIGO Audience Network revenue of $1 billion under its three-year strategic plan, while expecting BIGO Ads to grow at a strong mid-teens rate during fiscal 2026.
Shopline merchant page views originating from artificial intelligence channels increased approximately 15-fold in the first half of fiscal 2026, while orders originating from these channels increased more than 35-fold. The platform expanded its integrations with ChatGPT, Claude, and Cursor, while Shopline Copilot entered internal testing for natural-language store management. Shopline generated revenue of $34 million in fiscal Q2 2026, up 28.6%, and management is targeting operating break-even by 2028.
Net cash was $3.06 billion as of June 30, 2026, and operating cash flow was $65 million in fiscal Q2 2026. Through August 21, 2026, the company returned $359 million to shareholders, including $216 million in share repurchases and $142 million in dividends. The $1.5 billion shareholder returns program continues through the end of 2028, including a share repurchase program of up to $600 million authorized in May 2026.
Social entertainment remains the largest business, representing approximately 71.6% of fiscal Q2 2026 revenue, which keeps results sensitive to live-streaming performance. The higher contribution from third-party advertising and Shopline's value-added services also pressured the margins of both segments quarter over quarter. In addition, a foreign exchange loss of $14 million reduced adjusted net income, and management indicated that a similar trend may continue in fiscal Q3 2026.
