DouYu International Holdings Ltd (NASDAQ: DOYU)

Sector: Communication Services Industry: Internet Content & Information CIK: 0001762417
Market Cap 198.12 Mn
P/B 0.70
P/E -6.93
P/S 0.35
ROIC (Qtr) -43.11
Div Yield % 151.29
Rev 1y % (Qtr) -15.43
Total Debt (Qtr) 1.37 Mn
Debt/Equity (Qtr) 0.00

About

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 217.99M provide 199.09x coverage of short-term debt 1.09M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 430.66M provides 314.49x coverage of total debt 1.37M, indicating robust asset backing and low credit risk.
  • Tangible assets of 430.66M provide exceptional 12.63x coverage of deferred revenue 34.09M, showing strong service capability backing.
  • Long-term investments of 69.77M provide solid 254.21x coverage of long-term debt 274438.20, indicating strategic financial planning.
  • Tangible assets of 430.66M provide robust 5.27x coverage of other current liabilities 81.77M, indicating strong asset backing.

Bear case

  • Investment activities of 0 provide weak support for R&D spending of 17.05M, which is 0x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of 0 provides insufficient coverage of deferred revenue obligations of 34.09M, which is 0x, raising concerns about future service delivery capabilities.
  • Long-term investments of 69.77M represent a high 31.84x of fixed assets 2.19M, indicating potential overexposure to financial assets versus operational capabilities.
  • Retained earnings of (536.84M) provide limited buffer against comprehensive income items of 64.96M, which is -8.26x, indicating elevated exposure to market risks.
  • Operating cash flow of 0 provides minimal 0x coverage of tax expenses of 3.71M, suggesting potential tax planning inefficiencies or unsustainable tax positions.

Product and Service Breakdown of Revenue (2024)

Segments Breakdown of Revenue (2024)

Peer comparison

Companies in the Internet Content & Information
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 GOOGL Alphabet Inc. 4,538.16 Bn 131.46 27.23 33.71 Bn
2 META Meta Platforms, Inc. 1,747.49 Bn 74.30 23.25 51.06 Bn
3 SPOT Spotify Technology S.A. 103.00 Bn 62.32 5.18 2.57 Bn
4 BIDU Baidu, Inc. 62.73 Bn 49.63 3.42 13.66 Bn
5 RDDT Reddit, Inc. 32.18 Bn 92.16 16.90 0.03 Bn
6 NBIS Nebius Group N.V. 27.81 Bn 127.53 81.80 4.51 Bn
7 TME Tencent Music Entertainment Group 24.66 Bn 15.77 5.54 0.54 Bn
8 PINS Pinterest, Inc. 16.95 Bn 8.53 4.18 0.21 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets -0.06 1.10
EV to Cash from Ops. EV/CFO 0.81 -3.08
EV to Debt EV to Debt -19.45 28.98
EV to EBIT EV/EBIT 1.07 -26.54
EV to EBITDA EV/EBITDA 0.39 9.30
EV to Free Cash Flow [EV/FCF] EV/FCF 0.81 -67.01
EV to Market Cap EV to Market Cap -0.13 0.90
EV to Revenue EV/Rev -0.05 61.25
Price to Book Value [P/B] P/B 0.70 1.56
Price to Earnings [P/E] P/E -6.93 2.92
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.33
Dividend Payout Ratio % Div Payout % (Qtr) -1,048.50 -8.92
Dividend per Basic Share Div per Share (Qtr) 9.94 0.31
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 2.58
Interest Coverage Interest Coverage 0.00 -202.56
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 0.00 -24.06
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -22.90 175.36
Dividend Growth (1y) % Dividend Growth (1y) % 1.84 0.94
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -3.88 31.53
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 0.00 -472.14
EBIT Growth (1y) % EBIT 1y % (Qtr) 4.73 32.66
EBT Growth (1y) % EBT 1y % (Qtr) 4.73 -25.80
EPS Growth (1y) % EPS 1y % (Qtr) -9.05 -18.36
FCF Growth (1y) % FCF 1y % (Qtr) 0.00 20.83
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 16.05 19.58
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.18 0.74
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.02
Cash Ratio Cash Ratio (Qtr) 1.41 1.54
Current Ratio Curr Ratio (Qtr) 2.26 3.38
Debt to Equity Ratio Debt/Equity (Qtr) 0.00 -0.39
Interest Cover Ratio Interest Cover Ratio 0.00 -202.56
Times Interest Earned Times Interest Earned 0.00 -202.56
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 0.00 -4,283.87
EBIT Margin % EBIT Margin % (Qtr) -31.25 -4,786.62
EBT Margin % EBT Margin % (Qtr) -4.39 -5,002.12
Gross Margin % Gross Margin % (Qtr) 10.90 58.65
Net Profit Margin % Net Margin % (Qtr) -5.00 -5,003.08