DouYu International Holdings Limited

DOYU

Internet Content & Information · Communication Services

Price

$4.36

-0.10 (-2.24%)

Market Cap

$131.6M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Exceptional

Valuation

Data not available

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Share count falling — buybacks

−7.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 32.5M (2021) → 30.2M (2025)

Winston Score History

The full picture

DouYu International Holdings is a Chinese company that runs a live-streaming platform focused on video games and esports. Viewers watch their favorite gamers play live, chat with each other, and follow professional esports tournaments. It is one of China's largest game-focused streaming platforms and competes closely with Huya, another major Chinese gaming streamer.

DouYu makes most of its money when viewers buy virtual gifts and send them to streamers during live broadcasts — the company keeps a share of those payments. It operates almost entirely in China and generates a small amount of revenue from advertising. The platform's main competitive advantage is its large library of gaming content and its established streamer community, but thin margins and a shrinking user base are serious concerns. The biggest risk is continued user decline as short-form video apps like Douyin pull younger audiences away from long-form live streaming.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-7.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-290.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

¥121M/ year

↓ Declining (-33% vs prior year)

3.2% of revenue

Below sector average (12%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

¥2.7B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

DouYu International Holdings Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

16.2%

Thin — 16.2% gross margin

Profit after running costs

Operating Margin

-2.6%

Losing money on operations — -2.6%

Return on the money invested

ROCE

1.0%

Weak — 1.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-13.9%

Shrinking sales (-13.9% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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