JOYY Inc (JOYY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of JOYY Inc $140, price $79.19, upside +76.3%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.
How to read this chart
60‑month range $18.94 – $81.05 · fair‑value band $104.69 – $195.65 · the $79.19 price screens below the $139.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 4, 2026.
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JOYY Inc., together with its subsidiaries, engages in the provision of social product matrix and communication technology. It operates through two segments, BIGO and All Other.
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JOYY Inc., together with its subsidiaries, engages in the provision of social product matrix and communication technology. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people; imo, an instant messenger platform that provides audio and video communication services; and Likee, a short video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds. It also provides Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; Bigo Ads, an AI-powered programmatic advertising platform, which provides one-stop marketing and monetization solutions; and Shopline, a smart commerce platform that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores. The company operates in North America, Europe, the Middle East, Southeast Asia, and internationally. The company was formerly known as YY Inc. and changed its name to JOYY Inc. in December 2019. JOYY Inc. was founded in 2005 and is headquartered in Singapore.
Stock analysis
JOYY Inc (JOYY) currently trades at $79.19, while our model-based Fair Value estimate is $139.59, implying the stock looks roughly 43.3% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of $1,379 per share, and 13 of the 26 models we run sit above the $79.19 price.
Bear case: the Growth DCF group reads lowest at $35.75, and 13 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $104.69 (bear) to $195.65 (bull), the price of $79.19 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Communication Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
JOYY Inc reported revenue of $2.1B in FY2025 versus $2.6B in FY2021, a compound −5.1%/yr. Reported net income was $2.1B in FY2025.
Key figures
Market cap $4.2B · P/E ratio 15.1 · P/S ratio 14.9 · EPS (TTM) $4.36 · Dividend yield 5.3% · Net margin 98.8% · Return on equity −25.2% · Return on assets (EBIT) 0.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 2% below its 52-week high and 53% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at 76%, JOYY screens cheaper than that median.
Fair Value models
Bear $104.69Fair Value $139.59Bull $195.65
Price $79.19 · Upside +76.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.0941 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−5.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+48.5%
Start year 2020 (pandemic). Over 10 years: +31.3% a year
Revenue growth 16 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+65.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +90.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+85.5%
Dividend (yield on the price)5.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.85.5% vs 55.8%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−21% → 3%
Start year 2020 (pandemic)
⚠ Approximate: the rate leans on 2025, which sits 1,241% above its own trend.
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +5.1% a year for the price and +6.3% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Internet Content & Information · 131 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Above median
Fair Value upside+76.3% · Top 25%
Profitability
Return on assets0.5% · Below median
Net margin (TTM)10.4% · Above median
Operating margin (TTM)1.3% · Below median
Growth and dividend
Revenue growth12.4% · Above median
Dividend yield (TTM)5.3% · Top 25%
Balance sheet
Debt / equity0.06× · Above median
Valuation Multiplesvs Internet Content & Information median · lower = cheaper
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Cite: Fair Value Calculator (2026). "JOYY Inc Fair Value". https://www.fairvalue-calculator.com/stock/JOYY
Frequently asked questions
Is JOYY Inc (JOYY) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of $139.59 versus a price of $79.19, about +76% upside (undervalued).
What is the fair value of JOYY?
Our model-based fair value for JOYY Inc is $139.59 (as of Oct 4, 2026), built from audited fundamentals. The current price: $79.19.
What is the quality score of JOYY?
JOYY Inc has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for JOYY Inc (JOYY)?
Our model-based price target is the fair value of $139.59 (as of Oct 4, 2026) from 26 valuation models. Cautious scenario $104.69, optimistic scenario $195.65. It is a calculation from audited fundamentals, not an analyst target.
What is the JOYY Inc stock forecast for 2026?
Our models put fair value at $139.59, about +76% upside versus a price of $79.19 (undervalued). Cautious scenario $104.69, optimistic scenario $195.65. The calculation is refreshed regularly with new filings.
What is the revenue of JOYY Inc (JOYY)?
JOYY Inc reported trailing-twelve-month revenue of about $2.2B (latest available figure, as of Oct 4, 2026).
Does JOYY Inc pay a dividend?
JOYY Inc currently shows a dividend yield of about 5.35% relative to its recent price (as of Oct 4, 2026).
What growth is priced into JOYY Inc (JOYY)?
For today's price to be fair in a discounted-cash-flow model, JOYY Inc would have to grow free cash flow by +7.6 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +48.5 % per year. As of Oct 4, 2026.
What discount rate (WACC) does the fair value of JOYY use?
Our models discount JOYY Inc at 8.5 %: a base by market capitalisation (mid), damped by beta 0.48, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For JOYY Inc that is +7.6 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has JOYY Inc (JOYY) delivered so far?
Over the past 5 years revenue at JOYY Inc grew +48.5 % a year. The price currently implies +7.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of JOYY Inc (JOYY) growing?
The median revenue growth in the sector is +3.4 % a year. That is the yardstick for the growth priced into JOYY Inc (+7.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of JOYY Inc (JOYY)?
The free-cash-flow yield on the price is 3.77 %: that much free cash flow JOYY Inc produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of JOYY Inc (JOYY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For JOYY Inc it is $139.59 per share (as of Oct 4, 2026), against a price of $79.19. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is JOYY Inc stock overvalued or undervalued in 2026?
As of Oct 4, 2026, JOYY trades below its calculated fair value: price $79.19, fair value $139.59, a gap of about +76% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of JOYY?
No. The price is what the market pays today ($79.19); the fair value is what the company's own numbers justify ($139.59). For JOYY Inc the two are $60.40 per share apart. That gap is exactly why we show both numbers side by side.
How much is JOYY Inc worth?
The market values JOYY Inc at about $4.2B (market capitalisation, as of Oct 4, 2026). Per share that is $79.19; our models calculate a fair value of $139.59 per share.
What do the bullish and bearish scenarios say about JOYY?
Our models span a range for JOYY Inc: cautious scenario $104.69, base $139.59, optimistic $195.65 per share (as of Oct 4, 2026, price $79.19). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of JOYY?
JOYY Inc trades at a price-to-earnings ratio of 15.1 (as of Oct 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $139.59 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 14.9 (reported for FY2025: 2.0). Other multiples: PEG 0.9, P/B 0.6, P/S 1.9, EV/EBITDA 27.6.
What is the PEG ratio of JOYY?
The PEG ratio of JOYY Inc is 0.86 (P/E divided by earnings growth, as of Oct 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of JOYY Inc (JOYY)?
Balance-sheet figures for JOYY Inc (as of Oct 4, 2026): return on equity −25.2%, debt of 0.06 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is JOYY from its 52-week high?
JOYY Inc trades at $79.19, about 2% below its 52-week high of $81.05 and 53% above the low of $51.63 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $139.59 is for.
Which stocks are comparable to JOYY Inc?
From the same area (Communication Services) we also value Alphabet Inc, Meta Platforms, Inc, Tencent Holdings, Spotify Technology S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is JOYY Inc stock attractive at the current price?
The data as of Oct 4, 2026: price $79.19, calculated fair value $139.59 (+76%), Quality Score 65/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of JOYY calculated?
We run JOYY Inc through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $139.59, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. JOYY Inc currently trades 43 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of JOYY Inc (JOYY)?
The closing price on Oct 2, 2026 was $79.19. Our model-based fair value is $139.59, about +76% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with JOYY Inc right now?
The price is below even our cautious bear case ($104.69). The market is more pessimistic than our downside scenario. Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($104.69 to $195.65) leaves room in how you read the outcome.
Where does the earnings growth of JOYY Inc (JOYY) come from?
Earnings per share at JOYY Inc grew +50.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +35.3 %, EBIT margin −23.4 %, tax rate +1.6 %, residual (interest, one-offs) +43.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of JOYY Inc
How large is the market capitalisation of JOYY Inc (JOYY)?
The market capitalisation of JOYY Inc is $4.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of JOYY Inc (JOYY)?
The price-to-sales ratio of JOYY Inc is 14.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of JOYY Inc (JOYY)?
Earnings per share at JOYY Inc are $4.36 (price ÷ EPS = P/E 15.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of JOYY Inc (JOYY)?
The dividend yield of JOYY Inc is 5.3% (payout 97.2%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of JOYY Inc (JOYY)?
The net margin of JOYY Inc is 98.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of JOYY Inc (JOYY)?
The return on equity (ROE) of JOYY Inc is −25.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of JOYY Inc (JOYY)?
On an EBIT basis the return on assets of JOYY Inc is 0.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of JOYY Inc (JOYY)?
The operating margin of JOYY Inc is 1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at JOYY Inc (JOYY)?
Revenue at JOYY Inc is growing +12.4% versus a year earlier (3y avg −4.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at JOYY Inc (JOYY)?
Earnings per share at JOYY Inc are growing −97.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does JOYY Inc (JOYY) hold?
JOYY Inc holds more cash than debt, $364M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 4, 2026