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Held by 188 of 5,944 reporting institutions (91th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $78.88 today, the market must believe free cash flow compounds 5.9%/yr for a decade (off $199M normalized FCF).
The market's 5.9% is more optimistic than its 8-yr track record.
2-stage DCF · 0.05B shares (market data) · net debt -$364M
mean -6.0% · volatility σ 41% · implied rate exceeded in 2/8 yrs
Central path = implied 5.9%/yr growth; shaded band = ±1σ (41%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.12B 100.0% | $2.24B 100.0% | $2.27B 100.0% | $2.41B 100.0% | $2.62B 100.0% | $2.03B 100.0% | $6.24B 100.0% | $829.5M 100.0% | $11.59B 100.0% | $8.20B 100.0% |
| Cost of Revenue | $1.36B 64.1% | $1.43B 64.0% | $1.45B 64.2% | $1.56B 64.7% | $1.78B 68.0% | $1.38B 68.0% | $656.9M 10.5% | $725.7M 87.5% | $7.03B 60.6% | $5.10B 62.2% |
| Gross Profit | $762.6M 35.9% | $806.2M 36.0% | $813.0M 35.8% | $852.1M 35.3% | $837.9M 32.0% | $540.0M 26.6% | $243.8M 3.9% | $103.8M 12.5% | $4.57B 39.4% | $3.10B 37.8% |
| Research & Development | $247.1M 11.6% | $278.7M 12.5% | $295.5M 13.0% | $261.8M 10.9% | $279.8M 10.7% | $302.8M 14.9% | $236.5M 3.8% | $514.9M 62.1% | $781.9M 6.7% | $675.2M 8.2% |
| Selling, General & Admin | $164.5M 7.7% | $152.5M 6.8% | $122.7M 5.4% | $141.8M 5.9% | $221.7M 8.5% | $146.7M 7.2% | $135.6M 2.2% | $391.8M 47.2% | $544.6M 4.7% | $482.4M 5.9% |
| Total Operating Expenses | $709.1M 33.4% | $1.22B 54.5% | $787.7M 34.7% | $818.9M 34.0% | $969.9M 37.0% | $954.9M 47.1% | $776.6M 12.4% | $1.37B 165.2% | $2.02B 17.4% | $1.56B 19.0% |
| Operating Income | $55.8M 2.6% | -$405.6M -18.1% | $28.8M 1.3% | $50.7M 2.1% | -$106.7M -4.1% | -$406.8M -20.1% | -$515.4M -8.3% | -$1.25B -151.3% | $2.70B 23.3% | $1.77B 21.6% |
| Interest Expense | $516K 0.0% | $4.8M 0.2% | $10.4M 0.5% | $12.8M 0.5% | $14.5M 0.6% | $75.6M 3.7% | $38.1M 0.6% | $8.6M 1.0% | $32.1M 0.3% | $81.1M 1.0% |
| Other Income (Expense), net | — | — | — | — | — | — | — | — | $0 0.0% | $0 0.0% |
| Pretax Income | $216.1M 10.2% | -$227.5M -10.2% | $288.0M 12.7% | $634.6M 26.3% | -$77.6M -3.0% | $13.7M 0.7% | -$94.7M -1.5% | $564.9M 68.1% | $2.89B 24.9% | $1.78B 21.7% |
| Income Tax Expense | $16.4M 0.8% | $13.5M 0.6% | $18.9M 0.8% | $34.6M 1.4% | $25.7M 1.0% | $27.8M 1.4% | -$20.1M -0.3% | $67.8M 8.2% | $415.8M 3.6% | $280.5M 3.4% |
| Net Income | $2.10B 98.8% | -$146.2M -6.5% | $301.8M 13.3% | $128.9M 5.3% | -$80.3M -3.1% | $1.37B 67.7% | $509.8M 8.2% | $2.21B 266.3% | $2.51B 21.7% | $1.52B 18.6% |
| Per Share | ||||||||||
| EPS (Basic) | $1.99 | $-0.13 | $0.27 | $0.08 | $-0.06 | $0.85 | $0.32 | $1.28 | $2.10 | $1.35 |
| EPS (Diluted) | $1.97 | $-0.13 | $0.24 | $0.08 | $-0.06 | $0.85 | $0.32 | $1.27 | $2.07 | $1.32 |
| Weighted Avg Shares (Basic) | 1.05B | 1.16B | 1.31B | 1.44B | 1.56B | 1.60B | 1.54B | 1.28B | 1.19B | 1.13B |
| Weighted Avg Shares (Diluted) | 1.07B | 1.16B | 1.46B | 1.65B | 1.56B | 1.60B | 1.54B | 1.29B | 1.22B | 1.22B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
5/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend takes 98% of free cash flow — sustainable but with limited headroom. Last year: $156M dividends + $133M buybacks = $288M returned on $159M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A balanced mix of reinvestment and shareholder returns.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 32%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.8% on $11M of debt.
Cash of $374M fully covers short-term debt of $11M.
Mostly short-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
Nothing notable to watch.
No material risks flagged.
Where each multiple sits in its own 14-yr range · 8th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 22.4× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 87.5 | 10.5 | 68.0 | 68.0 | 64.7 | 64.2 | 64.0 | 64.1 |
| Gross Profit | 12.5 | 3.9 | 26.6 | 32.0 | 35.3 | 35.8 | 36.0 | 35.9 |
| R&D | 62.1 | 3.8 | 14.9 | 10.7 | 10.9 | 13.0 | 12.5 | 11.6 |
| SG&A | 47.2 | 2.2 | 7.2 | 8.5 | 5.9 | 5.4 | 6.8 | 7.7 |
| Operating Income | -151.3 | -8.3 | -20.1 | -4.1 | 2.1 | 1.3 | -18.1 | 2.6 |
| Income Tax | 8.2 | -0.3 | 1.4 | 1.0 | 1.4 | 0.8 | 0.6 | 0.8 |
| Net Income | 266.3 | 8.2 | 67.7 | -3.1 | 5.3 | 13.3 | -6.5 | 98.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on JOYY: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 192 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOG | $4.15T | 31.8× | 27.8× | 10.3× | 15.1% | 59.7% | 32.8% | 31.8% | 28.5% | 0.3× | 4,874 |
| META | $1.72T | 29.1× | 17.1× | 8.6× | 22.2% | 82.0% | 30.1% | 27.8% | 21.9% | 0.6× | 4,839 |
| AMX | $1.40T | — | — | — | — | — | — | — | — | — | 318 |
| CHT | $354.7B | — | — | — | — | — | — | — | — | — | 206 |
| NFLX | $318.0B | 29.8× | 23.7× | 7.0× | 15.9% | 48.5% | 24.3% | 41.3% | 26.7% | 1.1× | 3,458 |
| CCZ | $239.2B | 12.0× | 6.4× | 1.9× | -0.0% | — | 16.2% | 20.6% | 19.4% | 0.2× | 1 |
| VZ | $204.2B | 11.9× | 4.2× | 1.5× | 2.5% | — | 12.4% | 16.2% | 16.2% | 0.0× | 3,122 |
| DIS | $200.2B | 15.4× | 10.3× | 2.1× | 3.4% | — | 13.1% | 11.3% | 8.2% | 1.8× | 2,883 |
| TMUS | $184.2B | 17.1× | 8.3× | 2.1× | 8.5% | — | 12.4% | 18.6% | 7.6% | 2.7× | 1,648 |
| T | $182.0B | 8.3× | 6.8× | 1.4× | 2.7% | — | 17.5% | 17.4% | 8.1% | 3.2× | 2,848 |
| VEON | $127.2B | — | — | — | — | — | — | — | — | — | 97 |
| DASH | $83.1B | 91.3× | 53.5× | 6.1× | 27.9% | — | 6.8% | 9.3% | 9.3% | — | 973 |
| WBD | $70.0B | 97.4× | 15.3× | 1.9× | -5.1% | — | 1.9% | 2.0% | 1.1% | 5.1× | 1,259 |
| EA | $52.6B | 59.7× | 36.1× | 7.0× | 0.9% | 79.0% | 11.8% | 13.1% | 13.1% | — | 998 |
| LYV | $39.6B | — | 25.1× | 1.6× | 8.8% | — | 2.0% | 183% | 5.9% | 5.0× | 779 |
| TTWO | $39.0B | — | 424.4× | 5.9× | 18.2% | 57.2% | -4.5% | -8.5% | -4.9% | 26.7× | 1,011 |
| TWLO | $37.5B | 1172.6× | 107.1× | 7.4× | 13.7% | 48.9% | 0.7% | 0.4% | 0.4% | 2.8× | 776 |
| RDDT | $28.5B | 58.3× | 60.1× | 12.9× | 69.4% | 91.2% | 24.1% | 18.1% | 18.1% | — | 765 |
| FOX | $26.9B | 11.9× | — | 1.6× | 16.6% | — | 14.1% | 19.2% | 12.4% | — | 505 |
| OMC | $24.6B | — | 57.5× | 1.4× | 10.1% | 8.5% | -0.3% | -0.5% | -0.3% | 15.8× | 1,083 |
| ROKU | $22.8B | 261.1× | 530.2× | 4.8× | 15.2% | 43.8% | 1.9% | 3.3% | 3.3% | — | 665 |
| FWONA | $21.5B | — | 39.5× | 4.8× | 22.7% | — | 12.4% | 7.2% | 4.3% | 7.9× | 283 |
| NWS | $18.9B | 16.1× | — | 2.2× | 2.4% | — | 14.0% | 13.4% | 11.0% | — | 304 |
| CHTR | $18.0B | 3.7× | 5.3× | 0.3× | -0.6% | — | 9.1% | 31.1% | 4.5% | 4.5× | 760 |
| TKO | $15.3B | 83.8× | 13.8× | 3.2× | -3.1% | — | 4.1% | 5.2% | 2.6% | 2.9× | 616 |
| JOYY | $3.9B | 40.0× | 41.2× | 1.8× | -5.1% | 35.9% | 98.8% | 32.1% | 32.0% | 0.1× | 188 |
Peers = companies sharing JOYY's sector (Communication Services) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.