Joyy (JOYY) Operating Margin (2011 - 2025)
Joyy (JOYY) recorded quarterly Operating Margin of 3.14% in Q4 2025, down 13.28% quarter-over-quarter from 3.62% in Q3 2025, and up 9371.0% on a YoY basis from 0.03% in Q4 2024.
Joyy (JOYY) Operating Margin (2011 - 2025) Analysis & Trends
Joyy's Operating Margin history runs 15 years deep, the most recent figure standing at 3.14% for Q4 2025.
- In Q4 2025, Operating Margin rose 9371.0% year-over-year to 3.14%; the TTM figure through Dec 2025 stood at 2.63% (up 2387.0% YoY), while the FY2025 annual figure was 1.73%, up 1986.0% from the prior year.
- Operating Margin was 3.14% for Q4 2025 at Joyy, down from 3.62% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 10.26% in Q2 2022 to a low of 90.57% in Q4 2024.
- Historically, Operating Margin has averaged 4.0% across 5 years, with a median of 1.14% in 2025.
- The sharpest annual moves came in 2024 and 2025: Operating Margin slumped 9987 bps in 2024, then surged 9371 bps in 2025.
- A 5-year view of Operating Margin shows it stood at 9.13% in 2021, then sank by 227 bps to 11.55% in 2022, then soared by 181 bps to 9.3% in 2023, then slumped by 1074 bps to 90.57% in 2024, then jumped by 103 bps to 3.14% in 2025.
- The last three Operating Margin figures came in at 3.14% (Q4 2025), 3.62% (Q3 2025), and 1.14% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Nebius | 2,430,078.11 Bn | 2,430,078.11 Bn | 295.20 Mn | -32.08% |
| 2 | Alphabet | 4,448.32 Bn | 4,232.70 Bn | 102.29 Bn | 36.12% |
| 3 | Meta Platforms | 1,465.06 Bn | 1,383.88 Bn | 46.09 Bn | 40.62% |
| 4 | Spotify Technology | 113.19 Bn | 102.95 Bn | 1.75 Bn | 15.77% |
| 5 | 33.56 Bn | 30.79 Bn | 511.94 Mn | 27.57% | |
| 6 | 12.93 Bn | 11.63 Bn | 768.96 Mn | -7.97% | |
| 7 | Kanzhun | 12.77 Bn | 10.67 Bn | 255.62 Bn | 30.14% |
| 8 | Match | 8.28 Bn | 7.26 Bn | 653.28 Mn | 27.37% |
| 9 | Snap | 7.91 Bn | 5.08 Bn | 1.29 Bn | -4.87% |
| 10 | Joyy | - | - | 205.64 Mn | 3.14% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 3.14% |
| Sep 30, 2025 | 3.62% |
| Jun 30, 2025 | 1.14% |
| Mar 31, 2025 | 2.47% |
| Dec 31, 2024 | -90.57% |
| Sep 30, 2024 | 2.94% |
| Jun 30, 2024 | 0.40% |
| Mar 31, 2024 | 0.63% |
| Dec 31, 2023 | 9.30% |
| Jun 30, 2023 | 1.72% |
| Mar 31, 2023 | 0.43% |
| Dec 31, 2022 | -11.55% |
| Sep 30, 2022 | 9.88% |
| Jun 30, 2022 | 10.26% |
| Mar 31, 2022 | 1.02% |
| Dec 31, 2021 | 9.13% |
| Sep 30, 2021 | 1.06% |
| Jun 30, 2021 | -19.67% |
| Mar 31, 2021 | -11.36% |
| Dec 31, 2020 | -14.75% |