HUYA Inc Class A HUYA

Morningstar Rating
$2.30 +0.01 (0.44%)
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Company Report

Huya's Pivot to Game Services Is Finally Looking Credible

Huya's central strategic challenge is that its core business, game livestreaming, is in structural decline. Paying user counts in the livestreaming segment peaked above 6 million and had fallen to 4 million by 2025, when the company stopped disclosing the metric. The decline reflects users migrating to video platforms like Douyin, Kuaishou, and Bilibili, as they deepen their gaming-content libraries. We do not expect Huya's livestreaming user counts to recover. Huya has recognized this reality and responded with a transformation plan launched in 2023, the credibility of which has improved over the past two quarters.

Price vs Fair Value

HUYA is trading at a LOCK|srW&B$# premium.
Price
$2.30
Fair Value
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Uncertainty
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1-Star Price
S.z
5-Star Price
j.B
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Tencent's parentage gives Huya a structural advantage that competitors cannot easily replicate, effectively serving as a floor to its long-term fundamentals.

Bears

Tencent could direct Huya into low-margin strategic activities that benefit Tencent's gaming ecosystem at the expense of Huya's P&L.

News

Articles & Videos

Trading Information

Previous Close Price
$2.29
Day Range
$2.26–2.31
52-Week Range
$2.02–4.93
Bid/Ask
$2.28 / $2.35
Shares Outstanding
228.37M
Market Cap
$525.24M
Volume/Avg
462,346 / 938,966

Key Statistics

Price/Earnings (Normalized)
142.71
Price/Sales
0.53
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Dividend Payment Schedule
—
Total Yield
2.39%

Company Profile

Huya officially became independent in 2016 and is headquartered in Guangzhou. It operates a live streaming platform focused on games, esports, and interactive entertainment, and also provides game-related services such as distribution and in-game item sales. Its main livestreaming platforms include Huya Live in China and Nimo TV outside of China. Huya is a subsidiary of Tencent, which owned 67% of its equity stake and held 95% of the voting power, as of the end of 2025.
Sector
Communication Services
Industry
Entertainment
Stock Style Box
—
Total Number of Employees
1,176

Competitors

Valuation

Metric
HUYA
09899
TME
Price/Earnings (Normalized)
142.719.459.08
Price/Book Value
0.771.221.09
Price/Sales
0.532.062.50
Price/Cash Flow
14.7910.507.54
Price/Earnings
HUYA
09899
TME

Financial Strength

Metric
HUYA
09899
TME
Quick Ratio
2.004.141.59
Current Ratio
2.294.301.74
Interest Coverage
—12,046.5775.59
Quick Ratio
HUYA
09899
TME

Profitability

Metric
HUYA
09899
TME
Return on Assets (Normalized)
1.29%11.06%9.32%
Return on Equity (Normalized)
1.76%14.38%12.30%
Return on Invested Capital (Normalized)
−0.76%11.28%10.28%
Return on Assets
HUYA
09899
TME

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