HUYA (HUYA) financial statements

· Market cap $519M

HUYA reported revenue of 6.5B CNY in fiscal 2025, up 26.3% a year over 9 years.

Net income was -113M CNY and the operating margin -2.5%, against -78.6% in 2016.

Free cash flow was -344M CNY, and the company returned 2.4B CNY in dividends and 90M CNY in net buybacks.

The diluted share count rose 129% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CNY).

-50510152016201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CNY, from HUYA's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Revenue797M CNY2.2B CNY4.7B CNY8.4B CNY10.9B CNY11.4B CNY9.3B CNY7.0B CNY6.1B CNY6.5B CNY
Cost of revenue1.1B CNY1.9B CNY3.9B CNY6.9B CNY8.6B CNY9.8B CNY8.6B CNY6.2B CNY5.3B CNY5.6B CNY
Gross profit-298M CNY255M CNY730M CNY1.5B CNY2.3B CNY1.6B CNY654M CNY815M CNY809M CNY872M CNY
Research and development188M CNY170M CNY265M CNY509M CNY734M CNY819M CNY684M CNY579M CNY513M CNY497M CNY
Selling, general and admin140M CNY189M CNY477M CNY791M CNY1.0B CNY1.1B CNY872M CNY761M CNY529M CNY575M CNY
Operating income-626M CNY-95M CNY27M CNY261M CNY725M CNY-30M CNY-736M CNY-444M CNY-190M CNY-163M CNY
Pre-tax income-626M CNY-81M CNY-2.1B CNY567M CNY1.0B CNY260M CNY-523M CNY-191M CNY-34M CNY-97M CNY
Income tax——-51M CNY96M CNY177M CNY55M CNY24M CNY13M CNY14M CNY13M CNY
Net income-626M CNY-81M CNY-1.9B CNY468M CNY884M CNY583M CNY-548M CNY-205M CNY-48M CNY-113M CNY
EPS (diluted)-6.26 CNY-1.01 CNY-15.02 CNY2.02 CNY3.71 CNY2.41 CNY-2.27 CNY-0.84 CNY-0.21 CNY-0.49 CNY
Diluted shares100M100M167M232M239M242M241M243M232M229M
Gross margin-37.4%11.7%15.6%17.7%20.8%14.1%7.1%11.7%13.3%13.4%
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%

Balance sheet

Fiscal years, in CNY, from HUYA's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Cash and short-term investments6M CNY443M CNY1.0B CNY3.3B CNY4.5B CNY2.6B CNY697M CNY512M CNY1.2B CNY693M CNY
Receivables—30M CNY44M CNY62M CNY71M CNY88M CNY84M CNY64M CNY76M CNY239M CNY
Total current assets—1.3B CNY6.6B CNY10.6B CNY11.3B CNY11.9B CNY10.5B CNY8.2B CNY6.1B CNY4.9B CNY
Property, plant and equipment—32M CNY87M CNY97M CNY95M CNY80M CNY201M CNY327M CNY484M CNY604M CNY
Goodwill——————449M CNY457M CNY464M CNY453M CNY
Total assets—1.3B CNY7.1B CNY11.4B CNY12.4B CNY13.3B CNY13.8B CNY12.9B CNY9.6B CNY6.7B CNY
Total current liabilities—686M CNY1.4B CNY2.4B CNY2.4B CNY2.6B CNY2.3B CNY2.2B CNY1.9B CNY1.7B CNY
Total liabilities—731M CNY1.5B CNY2.7B CNY2.6B CNY2.7B CNY2.4B CNY2.3B CNY2.0B CNY1.8B CNY
Shareholders' equity-164M CNY60M CNY5.6B CNY8.7B CNY9.8B CNY10.5B CNY11.4B CNY10.6B CNY7.6B CNY4.9B CNY
Net debt-6M CNY-443M CNY-709M CNY-1.1B CNY-3.3B CNY-1.8B CNY-694M CNY-512M CNY-1.2B CNY-693M CNY

Cash flow

Fiscal years, in CNY, from HUYA's 10-K filings with the SEC.

Fiscal year2016201720182019202020212022202320242025
Operating cash flow-420M CNY242M CNY717M CNY1.9B CNY1.2B CNY327M CNY-400M CNY-32M CNY94M CNY-176M CNY
Capital spending3,000 CNY37M CNY75M CNY61M CNY54M CNY39M CNY156M CNY123M CNY186M CNY168M CNY
Free cash flow-420M CNY205M CNY643M CNY1.9B CNY1.2B CNY288M CNY-557M CNY-155M CNY-92M CNY-344M CNY
Stock-based compensation52M CNY40M CNY227M CNY282M CNY408M CNY290M CNY156M CNY78M CNY65M CNY74M CNY
Dividends paid——————0 CNY0 CNY2.9B CNY2.4B CNY
Share buybacks (net)—————0 CNY0 CNY-202M CNY-248M CNY-90M CNY
Free cash flow margin-52.8%9.4%13.8%22.5%10.9%2.5%-6.0%-2.2%-1.5%-5.3%
Dividends per share————————12.34 CNY10.52 CNY
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Questions

What was HUYA's revenue in 2025?

6.5B CNY in fiscal 2025, from its 10-K filing.

How much free cash flow does HUYA generate?

-344M CNY in fiscal 2025 (operating cash flow minus capital spending).

From HUYA's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.