Huya Inc Financials
Huya Inc (HUYA) reported $929.8M in revenue for fiscal year 2025, up 11.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
HUYA’s dominant mechanic is balance-sheet shrinkage as shareholder payouts outpace what the core business converts into cash.
From FY2024 to FY2025, gross margin stayed stable while the operating loss rate narrowed from-3.1% to-2.5% , so the income statement looked slightly better. Yet operating cash flow fell to-$25.2M as accounts receivable climbed to$34.1M , showing that weaker cash collection, not just weak margins, drove the deterioration.
The company still looks liquid rather than credit-constrained: a current ratio of 2.8x and liabilities well below equity mean near-term obligations are manageable. The more important constraint is that total assets have nearly halved since FY2023, leaving less balance-sheet cushion behind a business that is only near break-even.
What shrank HUYA fastest was capital returned to shareholders, not operating losses alone: dividends paid were
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Huya Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Huya Inc has an operating margin of -2.5%, meaning the company loses $3 on every $100 of revenue. This results in a profitability score of 35/100. This is up from -3.1% the prior year.
Huya Inc's revenue grew 11.6% year-over-year to $929.8M, a solid pace of expansion. This earns a growth score of 22/100.
Huya Inc carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 65/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.84, Huya Inc holds $2.84 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 75/100.
Huya Inc's operations used $25.2M of cash, and capex of $24.0M added to the outflow, for a free cash flow shortfall of $49.2M. This results in a cash flow score of 22/100.
Huya Inc posts a -2.3% return on equity (ROE), meaning it loses $2 for every $100 of shareholders' equity. This results in a returns score of 35/100. This is down from -0.6% the prior year.
Huya Inc scores 2.17, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($497.8M) relative to total liabilities ($254.8M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Huya Inc passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Huya Inc reported a net loss of $16.1M while operations used $25.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Huya Inc generated $929.8M in revenue in fiscal year 2025. This represents an increase of 11.6% from the prior year.
Huya Inc's EBITDA was -$12.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 19.3% from the prior year.
Huya Inc reported -$16.1M in net income in fiscal year 2025. This represents a decrease of 145.0% from the prior year.
Huya Inc earned -$0.07 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 133.3% from the prior year.
Cash & Balance Sheet
Huya Inc recorded an outflow of $49.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 290.4% from the prior year.
Huya Inc held $99.0M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Huya Inc's gross margin was 13.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.1 percentage points from the prior year.
Huya Inc's operating margin was -2.5% in fiscal year 2025, reflecting core business profitability. This is up 0.6 percentage points from the prior year.
Huya Inc's net profit margin was -1.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.9 percentage points from the prior year.
Huya Inc's ROE was -2.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.7 percentage points from the prior year.
Capital Allocation
Huya Inc invested $71.0M in research and development in fiscal year 2025. This represents an increase of 1.1% from the prior year.
Huya Inc spent $12.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 62.0% from the prior year.
Huya Inc invested $24.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 5.9% from the prior year.
HUYA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $929.8M+11.6% | $832.8M-15.5% | $985.1M-26.3% | $1.3B-25.0% | $1.8B+6.5% | $1.7B+39.1% | $1.2B+77.4% | $678.3M |
| Cost of Revenue | $805.1M+11.5% | $721.9M-17.0% | $870.3M-30.3% | $1.2B-18.4% | $1.5B+15.5% | $1.3B+33.8% | $990.1M+73.0% | $572.1M |
| Gross Profit | $124.7M+12.5% | $110.9M-3.4% | $114.8M+29.6% | $88.6M-64.7% | $251.1M-27.8% | $347.6M+63.3% | $212.9M+100.5% | $106.1M |
| R&D Expenses | $71.0M+1.1% | $70.2M-13.8% | $81.5M-17.4% | $98.6M-23.2% | $128.5M+14.2% | $112.5M+54.0% | $73.1M+89.5% | $38.6M |
| SG&A Expenses | $44.2M+26.5% | $34.9M-22.7% | $45.2M-2.7% | $46.5M-9.4% | $51.3M-24.8% | $68.2M+34.6% | $50.7M+21.1% | $41.8M |
| Operating Income | -$23.2M+10.5% | -$26.0M+58.4% | -$62.5M+39.0% | -$102.4M-2063.7% | -$4.7M-104.3% | $111.1M+195.9% | $37.5M+868.4% | $3.9M |
| Income Tax | $1.8M-1.0% | $1.8M-0.6% | $1.9M-53.9% | $4.0M-53.4% | $8.7M | N/A | N/A | N/A |
| Net Income | -$16.1M-145.0% | -$6.6M+77.2% | -$28.8M+59.2% | -$70.6M-177.1% | $91.6M-32.4% | $135.5M+101.5% | $67.2M+123.9% | -$281.8M |
| EPS (Diluted) | -$0.07-133.3% | -$0.03+75.0% | -$0.12+58.6% | -$0.29-176.3% | $0.38-33.3% | $0.57+96.6% | $0.29 | N/A |
Not reported in any period shown, so not listed: Interest Expense.
HUYA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $958.3M-26.9% | $1.3B-28.0% | $1.8B-4.5% | $1.9B-8.4% | $2.1B+9.4% | $1.9B+16.5% | $1.6B+58.0% | $1.0B |
| Current Assets | $701.7M-15.9% | $834.1M-27.3% | $1.1B-24.3% | $1.5B-18.9% | $1.9B+8.3% | $1.7B+13.5% | $1.5B+58.6% | $959.2M |
| Cash & Equivalents | $99.0M-39.2% | $162.9M+125.9% | $72.1M-24.1% | $95.0M-66.2% | $281.0M-44.3% | $504.8M+215.7% | $159.9M+55.1% | $103.1M |
| Accounts Receivable | $34.1M+227.5% | $10.4M+15.1% | $9.1M-17.7% | $11.0M-20.3% | $13.8M+26.5% | $10.9M+23.2% | $8.9M+39.0% | $6.4M |
| Goodwill | $64.8M+2.1% | $63.5M-1.3% | $64.4M | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $254.8M-7.8% | $276.3M-14.7% | $323.9M-3.0% | $334.0M-22.5% | $430.7M+6.7% | $403.7M+4.8% | $385.2M+81.3% | $212.5M |
| Current Liabilities | $247.3M-6.9% | $265.5M-12.8% | $304.4M-4.6% | $319.1M-21.1% | $404.2M+10.6% | $365.5M+4.0% | $351.4M+75.0% | $200.8M |
| Total Equity | $703.5M-32.0% | $1.0B-30.9% | $1.5B-4.8% | $1.6B-4.7% | $1.6B+10.1% | $1.5B+20.1% | $1.2B+51.9% | $821.0M |
| Retained Earnings | -$317.4M-10.3% | -$287.7M+0.5% | -$289.1M-11.6% | -$259.1M-227.0% | $204.0M-29.3% | $288.7M+201.2% | -$285.3M+19.1% | -$352.6M |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
HUYA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$25.2M-295.0% | $12.9M+385.9% | -$4.5M+92.9% | -$63.4M-223.4% | $51.4M-73.0% | $190.0M-32.0% | $279.4M+167.8% | $104.3M |
| Capital Expenditures | $24.0M-5.9% | $25.5M+47.0% | $17.4M-23.5% | $22.7M+265.9% | $6.2M-25.7% | $8.3M-5.2% | $8.8M-19.2% | $10.9M |
| Free Cash Flow | -$49.2M-290.4% | -$12.6M+42.4% | -$21.9M+74.6% | -$86.1M-290.4% | $45.2M-75.1% | $181.7M-32.9% | $270.6M+189.6% | $93.5M |
| Investing Cash Flow | $312.5M-38.0% | $504.0M+6623.9% | $7.5M+106.1% | -$123.0M+58.3% | -$295.1M-291.6% | $154.0M+129.1% | -$529.3M+20.3% | -$664.3M |
| Financing Cash Flow | -$357.2M+16.0% | -$425.3M-1392.8% | -$28.5M-3348.9% | $877K-47.9% | $1.7M-95.9% | $40.7M-86.7% | $306.5M-48.9% | $600.2M |
| Dividends Paid | $344.3M-12.0% | $391.5M | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $12.9M-62.0% | $34.0M+19.1% | $28.5M | N/A | N/A | N/A | N/A | N/A |
HUYA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 13.4%+0.1pp | 13.3%+1.7pp | 11.7%+5.0pp | 6.6%-7.5pp | 14.1%-6.7pp | 20.8%+3.1pp | 17.7%+2.0pp | 15.7% |
| Operating Margin | -2.5%+0.6pp | -3.1%+3.2pp | -6.3%+1.3pp | -7.7%-7.4pp | -0.3%-6.9pp | 6.6%+3.5pp | 3.1%+2.5pp | 0.6% |
| Net Margin | -1.7%-0.9pp | -0.8%+2.1pp | -2.9%+2.4pp | -5.3%-10.4pp | 5.1%-3.0pp | 8.1%+2.5pp | 5.6%+47.1pp | -41.5% |
| Return on Equity | -2.3%-1.7pp | -0.6%+1.3pp | -1.9%+2.6pp | -4.5%-10.0pp | 5.5%-3.5pp | 9.0%+3.6pp | 5.4%+39.7pp | -34.3% |
| Return on Assets | -1.7%-1.2pp | -0.5%+1.1pp | -1.6%+2.1pp | -3.7%-8.1pp | 4.4%-2.7pp | 7.1%+3.0pp | 4.1%+31.4pp | -27.3% |
| Current Ratio | 2.84-0.3x | 3.14-0.6x | 3.77-1.0x | 4.75+0.1x | 4.63-0.1x | 4.73+0.4x | 4.33-0.4x | 4.78 |
| Debt-to-Equity | 0.36+0.1x | 0.27+0.1x | 0.220.0x | 0.210.0x | 0.260.0x | 0.270.0x | 0.31+0.1x | 0.26 |
| FCF Margin | -5.3%-3.8pp | -1.5%+0.7pp | -2.2%+4.2pp | -6.4%-9.0pp | 2.5%-8.3pp | 10.9%-11.6pp | 22.5%+8.7pp | 13.8% |
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Where Huya Inc Ranks
Frequently Asked Questions
What is Huya Inc's annual revenue?
Huya Inc (HUYA) reported $929.8M in total revenue for fiscal year 2025. This represents a 11.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Huya Inc's revenue growing?
Huya Inc (HUYA) revenue grew by 11.6% year-over-year, from $832.8M to $929.8M in fiscal year 2025.
Is Huya Inc profitable?
No, Huya Inc (HUYA) reported a net income of -$16.1M in fiscal year 2025, with a net profit margin of -1.7%.
What is Huya Inc's EBITDA?
Huya Inc (HUYA) had EBITDA of -$12.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Huya Inc's gross margin?
Huya Inc (HUYA) had a gross margin of 13.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Huya Inc's operating margin?
Huya Inc (HUYA) had an operating margin of -2.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Huya Inc's net profit margin?
Huya Inc (HUYA) had a net profit margin of -1.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Huya Inc's return on equity (ROE)?
Huya Inc (HUYA) has a return on equity of -2.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Huya Inc's free cash flow?
Huya Inc (HUYA) recorded an outflow of $49.2M in free cash flow during fiscal year 2025. This represents a -290.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Huya Inc's operating cash flow?
Huya Inc (HUYA) recorded an outflow of $25.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Huya Inc's total assets?
Huya Inc (HUYA) had $958.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Huya Inc's capital expenditures?
Huya Inc (HUYA) invested $24.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Huya Inc spend on research and development?
Huya Inc (HUYA) invested $71.0M in research and development during fiscal year 2025.
What is Huya Inc's current ratio?
Huya Inc (HUYA) had a current ratio of 2.84 as of fiscal year 2025, which is generally considered healthy.
What is Huya Inc's debt-to-equity ratio?
Huya Inc (HUYA) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Huya Inc's return on assets (ROA)?
Huya Inc (HUYA) had a return on assets of -1.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Huya Inc's cash runway?
Based on fiscal year 2025 data, Huya Inc (HUYA) had $99.0M in cash against an annual operating cash burn of $25.2M. This gives an estimated cash runway of approximately 47 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Huya Inc's Altman Z-Score?
Huya Inc (HUYA) has an Altman Z-Score of 2.17, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Huya Inc's Piotroski F-Score?
Huya Inc (HUYA) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Huya Inc's earnings high quality?
Huya Inc (HUYA) reported a net loss of $16.1M while operations used $25.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Huya Inc?
Huya Inc (HUYA) scores 42 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.