Huya Inc. is a US-listed company in the movies & entertainment industry. Its financial year ends in December.
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~$4.5
Revenue-to-maturity cash-flow model
Base case. Range ~$3.6–$5.6 across our lower- and higher-growth cases (2.0999999999999996%–12.1% a year).
No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.
Huya Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months was $905m, up 7.1% on a year earlier, against a decline of 14.5% a quarter earlier. Free-cash-flow margin fell to -5.3% from 2.5% a year earlier. Operating margin narrowed to -2.5% from -0.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $4.51 a share, against a share price of $1.99.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Huya Inc.'s trailing-twelve-month revenue grew 7.1% year on year, with a free-cash-flow margin of -5.3%. Where it stands out: change in growth rate of +21.6pp ranks 2 of 25 movies & entertainment companies we cover.
Current signal Free cash flow diverging from earnings: TTM free cash flow fell 274.4% while net income fell 135.1%: a 139pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for HUYA from the sources we follow. See filings →
We value Huya Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.86 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | ~$4.5 ~$3.6–$5.6 | Primary model, counts double |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$0.5 ~$0.2–$0.9 | Left out: far from the other models (more than 3x away from their median) |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$3.3 ~$2.3–$15 | Included, half weight |
| Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$4.3 ~$3.3–$4.5 | 2 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Huya Inc. with Movies & Entertainment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Next results: November 17, 2026, before the open.
No analyst estimates are published for Huya Inc.: too few analysts cover it.
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $0.08 | $0.16 | +94.0% |
| Mar 2026 | $0.03 | $0.09 | +259.4% |
| Dec 2025 | $0.15 | −$0.04 | −125.8% |
| Sept 2025 | $0.21 | $0.16 | −23.7% |
Adjusted EPS as companies report it, against the average analyst estimate.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY16 Q4 | $120.1M |
| FY17 Q4 | $323.5M |
| FY18 Q4 | $706.7M |
| FY19 Q4 | $1.2B |
| FY20 Q4 | $1.6B |
| FY21 Q4 | $1.8B |
| FY22 Q4 | $1.4B |
| FY23 Q4 | $988.5M |
| FY24 Q4 | $844.9M |
| FY25 Q4 | $904.8M |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY17 Q4 | 169.4% |
| FY18 Q4 | 118.5% |
| FY19 Q4 | 71.6% |
| FY20 Q4 | 30.4% |
| FY21 Q4 | 11.2% |
| FY22 Q4 | -21.6% |
| FY23 Q4 | -28.4% |
| FY24 Q4 | -14.5% |
| FY25 Q4 | 7.1% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Operating margin (TTM) |
|---|---|
| FY16 Q4 | -78.6% |
| FY17 Q4 | -4.3% |
| FY18 Q4 | 0.6% |
| FY19 Q4 | 3.1% |
| FY20 Q4 | 6.6% |
| FY21 Q4 | -0.3% |
| FY22 Q4 | -7.9% |
| FY23 Q4 | -6.3% |
| FY24 Q4 | -3.1% |
| FY25 Q4 | -2.5% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY16 Q4 | -52.8% |
| FY17 Q4 | 9.4% |
| FY18 Q4 | 13.8% |
| FY19 Q4 | 22.5% |
| FY20 Q4 | 10.9% |
| FY21 Q4 | 2.5% |
| FY22 Q4 | -6.0% |
| FY23 Q4 | -2.2% |
| FY24 Q4 | -1.5% |
| FY25 Q4 | -5.3% |
| Fiscal year | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||
| Revenue | 120 | 323 | 707 | 1,213 | 1,582 | 1,760 | 1,380 | 988 | 845 | 905 |
| Gross profit | −45 | 38 | 111 | 215 | 329 | 248 | 97 | 115 | 113 | 121 |
| EBITDA | −94 | −13 | 8 | 44 | 114 | 3 | −103 | −56 | −21 | −18 |
| Operating income | −94 | −14 | 4 | 38 | 105 | −5 | −110 | −63 | −26 | −23 |
| Net income | −94 | −12 | −294 | 68 | 128 | 90 | −82 | −29 | −7 | −16 |
| Diluted EPS | −$0.94 | −$0.15 | −$2.28 | $0.29 | $0.54 | $0.37 | −$0.34 | −$0.12 | −$0.03 | −$0.07 |
| Growth (year on year) | ||||||||||
| Revenue | — | +169.4% | +118.5% | +71.6% | +30.4% | +11.2% | −21.6% | −28.4% | −14.5% | +7.1% |
| EBITDA | — | — | — | — | +155.5% | −97.3% | — | — | — | — |
| Operating income | — | — | — | — | +177.6% | −104.5% | — | — | — | — |
| Net income | — | — | — | — | +89.0% | −29.4% | −190.2% | — | — | — |
| Diluted EPS | — | — | — | — | +83.8% | −30.5% | −190.5% | — | — | — |
| Margins | ||||||||||
| Gross margin | −37.4% | 11.7% | 15.6% | 17.7% | 20.8% | 14.1% | 7.1% | 11.7% | 13.3% | 13.4% |
| EBITDA margin | −78.0% | −4.0% | 1.1% | 3.7% | 7.2% | 0.2% | −7.5% | −5.7% | −2.5% | −2.0% |
| Operating margin | −78.6% | −4.3% | 0.6% | 3.1% | 6.6% | −0.3% | −7.9% | −6.3% | −3.1% | −2.5% |
| Net margin | −78.5% | −3.7% | −41.6% | 5.6% | 8.1% | 5.1% | −5.9% | −2.9% | −0.8% | −1.7% |
| Free-cash-flow margin | −52.8% | 9.4% | 13.8% | 22.5% | 10.9% | 2.5% | −6.0% | −2.2% | −1.5% | −5.3% |
| Cash flow | ||||||||||
| Cash from operations | −63 | 36 | 109 | 282 | 180 | 51 | −60 | −5 | 13 | −25 |
| Capital spending | 0 | 6 | 11 | 9 | 8 | 6 | 23 | 17 | 26 | 23 |
| Free cash flow | −63 | 30 | 97 | 273 | 172 | 45 | −83 | −22 | −13 | −48 |
| Stock-based pay | 8 | 6 | 34 | 41 | 59 | 45 | 23 | 11 | 9 | 10 |
| Free cash flow after stock pay | −71 | 24 | 63 | 232 | 113 | −0 | −106 | −33 | −22 | −58 |
| Balance sheet | ||||||||||
| Cash | 1 | 68 | 103 | 160 | 505 | 281 | 101 | 72 | 163 | 99 |
| Total debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt (negative = net cash) | −1 | −68 | −103 | −160 | −505 | −281 | −101 | −72 | −163 | −99 |
| Diluted shares | 100m | 100m | 167m | 232m | 239m | 242m | 241m | 243m | 232m | 229m |
| Returned to shareholders | ||||||||||
| Dividends | — | — | — | — | — | — | 0 | 0 | 397 | 335 |
| Buybacks | — | — | — | — | — | 0 | 0 | 29 | 34 | 13 |
| Total returned | — | — | — | — | — | 0 | 0 | 29 | 432 | 348 |
| Last 12 months unless stated | HUYA | MANU | MCS | MSGE | BATRA | MSGS | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $905m | $910m | $817m | $1.1bn | $750m | $1.2bn | $1.1bn |
| Revenue growth, last 12 months | 7.1% | 5.4% | 8.5% | 12.5% | 6.8% | 11.0% | 8.5% |
| Revenue growth, 3-year average | — | — | 3.8% | 7.6% | 6.7% | 9.1% | 7.1% |
| Revenue growth, latest quarter | — | — | 13.1% | 27.4% | −2.3% | 36.7% | 11.3% |
| Operating margin | −2.5% | 3.3% | 4.9% | 13.3% | −9.4% | 2.5% | 2.5% |
| Operating margin, 3-year average | −2.4% | −1.4% | 3.1% | 12.7% | −6.1% | 6.0% | −0.6% |
| Net margin | −1.7% | −6.3% | 3.1% | 6.2% | −8.6% | 0.7% | 0.5% |
| Cash from operations / revenue | −2.7% | 26.4% | 15.4% | 33.1% | −8.5% | 5.4% | 9.9% |
| Free-cash-flow margin | −5.3% | 13.7% | 9.4% | 27.8% | −19.4% | 5.3% | 5.3% |
| Free-cash-flow margin, 3-year average | 2.2% | 14.2% | 4.1% | 13.3% | −13.8% | 7.5% | 6.1% |
| Stock pay / revenue | 1.1% | 0.0% | 1.0% | 3.1% | 3.2% | 1.9% | 1.5% |
| Change in share count | −1.2% | 0.9% | −1.2% | −0.7% | 1.6% | 0.7% | 1.6% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 7.1% | 8.5% | 14 of 25 |
| Change in growth rate Growth | +21.6pp | +0.7pp | 2 of 25 |
| Gross margin Profitability | 13.4% | 45.3% | 8 of 10 |
| Operating margin Profitability | -2.5% | 3.0% | 17 of 24 |
| Net margin Profitability | -1.7% | 0.5% | 16 of 25 |
| Free-cash-flow margin Cash generation | -5.3% | 7.1% | 19 of 24 |
| Stock pay as % of revenue Cash generation | 1.1% | 1.5% | 11 of 25 |
| Change in share count Balance sheet | -1.2% | 1.6% | 4 of 19 |
| Days sales outstanding Balance sheet | 14 days | 35 days | 3 of 17 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Olp Capital Management Ltd | $20.8M | 9.1M | 24.8% | ▼ 50.4% |
| Fil Ltd | $7.8M | 3.4M | 9.2% | ▼ 51.4% |
| Acadian Asset Management LLC | $7.4M | 3.2M | 8.8% | ▲ 10.6% |
| FMR LLC | $5.5M | 2.4M | 6.5% | 0.0% |
| Arrowstreet Capital, Limited Partnership | $5.5M | 2.4M | 6.5% | ▼ 11.7% |
| Monolith Management Ltd | $4.5M | 2.0M | 5.4% | 0.0% |
| Connor, Clark & Lunn Investment Management Ltd. | $4.4M | 1.9M | 5.2% | ▼ 3.1% |
| Renaissance Technologies LLC | $4.3M | 1.9M | 5.2% | ▼ 16.8% |
| Seldon Capital LP | $3.8M | 1.7M | 4.5% | ▼ 27.5% |
| Ivyrock Asset Management (HK) Ltd | $2.4M | 1.0M | 2.9% | 0.0% |
| Dimensional Fund Advisors LP | $2M | 865K | 2.4% | ▼ 12.2% |
| Morgan Stanley | $1.7M | 724K | 2.0% | ▼ 25.6% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Huya Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Lin Songtao Director | June 15, 2026 | Sell | 47,275 | $2.43 | $114,878 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
No trades in Huya Inc. disclosed in the last 12 months; 53 earlier trades on record.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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