Tuya Inc.
TUYA NYSE Services-Prepackaged Software Financials FY2019โFY2025
Last close ยท Oct 23, 2026
$1.65
1.2%
Revenue
Total sales reported in the income statement.
$322M
7.8%
vs prior year
Operating margin
Operating income as a share of revenue.
3.6%
19.5ย pts
Net income
Profit after all expenses, interest and tax.
$57.9M
1,058.5%
Free cash flow
Cash from operations minus capital spending.
$73.9M
3.0%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
$1.0B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
18.3x
On $0.09 EPS (TTM)
What Tuya Inc. does
No business description yet.
- Legal name
- Tuya Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F ยท Apr 22, 2026
- Accession ยท CIK
- 0001104659-26-046399
0001829118
Revenue and margins
Tuya Inc. had $322M of revenue in fiscal 2025, up 7.8% on the year before.
FY19
Revenue $106M
FY20
Revenue $180M
FY21
Revenue $302M
FY22
Revenue $208M
FY23
Revenue $230M
FY24
Revenue $299M
FY25
Revenue $322M
FY19
Gross 26.3%
Operating โ69.4%
Net โ66.6%
FCF โ55.8%
FY20
Gross 34.4%
Operating โ38.8%
Net โ37.2%
FCF โ29.1%
FY21
Gross 42.3%
Operating โ60.8%
Net โ58.1%
FCF โ43.8%
FY22
Gross 43.0%
Operating โ80.8%
Net โ70.2%
FCF โ34.3%
FY23
Gross 46.4%
Operating โ46.0%
Net โ26.2%
FCF 15.2%
FY24
Gross 47.4%
Operating โ15.9%
Net 1.7%
FCF 25.5%
FY25
Gross 48.2%
Operating 3.6%
Net 18.0%
FCF 23.0%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY19
Net income โ$70.5M
FY20
Net income โ$66.9M
FY21
Net income โ$175M
FY22
Net income โ$146M
FY23
Net income โ$60.3M
FY24
Net income $5.0M
FY25
Net income $57.9M
FY19
Diluted EPS โ$0.33
FY20
Diluted EPS โ$0.30
FY21
Diluted EPS โ$0.36
FY22
Diluted EPS โ$0.26
FY23
Diluted EPS โ$0.11
FY24
Diluted EPS $0.01
FY25
Diluted EPS $0.09
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital โ
Return on equity โ
Return on assets โ
FY20
Return on capital โ
Return on equity โ
Return on assets โ25.0%
FY21
Return on capital โ
Return on equity โ37.0%
Return on assets โ23.2%
FY22
Return on capital โ
Return on equity โ14.1%
Return on assets โ12.7%
FY23
Return on capital โ
Return on equity โ6.2%
Return on assets โ5.7%
FY24
Return on capital โ
Return on equity 0.5%
Return on assets 0.5%
FY25
Return on capital โ
Return on equity 5.7%
Return on assets 5.2%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $73.9M in fiscal 2025, 23.0% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow โ$59.1M
FY20
Free cash flow โ$52.4M
FY21
Free cash flow โ$132M
FY22
Free cash flow โ$71.4M
FY23
Free cash flow $34.9M
FY24
Free cash flow $76.2M
FY25
Free cash flow $73.9M
FY19
Cash from operations โ$56.6M
Capital spending $2.5M
FY20
Cash from operations โ$49.2M
Capital spending $3.2M
FY21
Cash from operations โ$126M
Capital spending $6.2M
FY22
Cash from operations โ$70.7M
Capital spending $0.7M
FY23
Cash from operations $36.4M
Capital spending $1.5M
FY24
Cash from operations $80.4M
Capital spending $4.2M
FY25
Cash from operations $81.0M
Capital spending $7.1M
Cash from operations
Capital spending
Dividends, buybacks and share count
Tuya Inc. returned $69.9M to shareholders in fiscal 2025, 95% of free cash flow. The diluted share count rose 3.9%.
FY19
Dividends โ
Buybacks โ
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks $64.0M
FY22
Dividends โ
Buybacks $48.7M
FY23
Dividends โ
Buybacks $3.3M
FY24
Dividends $33.0M
Buybacks $0.1M
FY25
Dividends $69.8M
Buybacks $0.0M
Dividends
Buybacks
FY19
Diluted shares 0.22B
FY20
Diluted shares 0.22B
FY21
Diluted shares 0.49B
FY22
Diluted shares 0.55B
FY23
Diluted shares 0.56B
FY24
Diluted shares 0.59B
FY25
Diluted shares 0.61B
Balance sheet
Cash, debt and the ratios that show how comfortably Tuya Inc. can carry it.
FY19
Cash $213M
Debt โ
FY20
Cash $180M
Debt โ
FY21
Cash $1.1B
Debt โ
FY22
Cash $954M
Debt โ
FY23
Cash $790M
Debt โ
FY24
Cash $848M
Debt โ
FY25
Cash $952M
Debt โ
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.1B | $954M | $790M | $848M | $952M |
| Current ratio | 10.9x | 12.6x | 9.7x | 9.6x | 9.6x |
| Quick ratio | 10.3x | 12.0x | 9.3x | 9.3x | 9.3x |
| Total assets | $1.2B | $1.1B | $1.1B | $1.1B | $1.1B |
| Total liabilities | $134M | $94.0M | $95.8M | $96.3M | $110M |
| Shareholders' equity | $1.1B | $962M | $971M | $1.0B | $1.0B |
| Net debt (โ = net cash) | โ | โ | โ | โ | โ |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 5 | 4 / 8 | 4 / 8 | 5 / 8 | 6 / 8 | 7 / 8 |
| Accruals ratio | โ | โ6.6% | โ6.5% | โ6.6% | โ9.1% | โ6.9% | โ2.1% |
| Altman Z'' | โ | โ2.03 | 12.43 | 13.95 | 12.89 | 13.81 | 13.68 |
7 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $106M | $180M | $302M | $208M | $230M | $299M | $322M |
| Gross profit | $27.8M | $61.9M | $128M | $89.4M | $107M | $141M | $155M |
| Research and development | $52.0M | $77.4M | $174M | $145M | $102M | $95.0M | $89.7M |
| Operating income | โ$73.4M | โ$69.8M | โ$184M | โ$168M | โ$106M | โ$47.6M | $11.5M |
| Pretax income | โ$70.4M | โ$66.7M | โ$175M | โ$144M | โ$57.1M | $7.1M | $59.8M |
| Income tax | $0.1M | $0.2M | $0.5M | $1.9M | $3.2M | $2.1M | $2.0M |
| Net income | โ$70.5M | โ$66.9M | โ$175M | โ$146M | โ$60.3M | $5.0M | $57.9M |
| Net income to common | โ$73.9M | โ$66.9M | โ$175M | โ$146M | โ$60.3M | $5.0M | $57.9M |
| Diluted EPS | โ$0.33 | โ$0.30 | โ$0.36 | โ$0.26 | โ$0.11 | $0.01 | $0.09 |
| Diluted shares | 0.22B | 0.22B | 0.49B | 0.55B | 0.56B | 0.59B | 0.61B |
| Cash flow | |||||||
| Cash from operations | โ$56.6M | โ$49.2M | โ$126M | โ$70.7M | $36.4M | $80.4M | $81.0M |
| Capital expenditure | $2.5M | $3.2M | $6.2M | $0.7M | $1.5M | $4.2M | $7.1M |
| Free cash flow | โ$59.1M | โ$52.4M | โ$132M | โ$71.4M | $34.9M | $76.2M | $73.9M |
| Depreciation and amortization | $0.8M | $1.7M | $3.4M | $3.4M | $2.4M | $1.6M | $1.2M |
| Stock-based compensation | $5.2M | $9.4M | $66.1M | $69.0M | $65.2M | $67.8M | $22.3M |
| Share buybacks | โ | โ | $64.0M | $48.7M | $3.3M | $0.1M | $0.0M |
| Dividends paid | โ | โ | โ | โ | โ | $33.0M | $69.8M |
| Dividends and buybacks | โ | โ | $64.0M | $48.7M | $3.3M | $33.1M | $69.9M |
| Balance sheet | |||||||
| Cash and short-term investments | $213M | $180M | $1.1B | $954M | $790M | $848M | $952M |
| Loans, net | โ | โ | โ | โ | โ | $0.9M | $1.4M |
| Deposits | โ | โ | โ | $1.4M | $1.4M | โ | โ |
| Current assets | โ | $248M | $1.2B | $1.0B | $848M | $903M | $1.0B |
| Current liabilities | โ | $91.9M | $109M | $81.3M | $87.5M | $94.3M | $106M |
| Inventory | โ | $42.3M | $62.6M | $45.4M | $32.9M | $23.8M | $30.9M |
| Property and equipment, net | โ | $4.4M | $6.8M | $3.8M | $2.6M | $6.6M | $15.7M |
| Total assets | โ | $267M | $1.2B | $1.1B | $1.1B | $1.1B | $1.1B |
| Total liabilities | โ | $98.3M | $134M | $94.0M | $95.8M | $96.3M | $110M |
| Shareholders' equity | โ$110M | โ$165M | $1.1B | $962M | $971M | $1.0B | $1.0B |
| Margins | |||||||
| Gross margin | 26.3% | 34.4% | 42.3% | 43.0% | 46.4% | 47.4% | 48.2% |
| Operating margin | โ69.4% | โ38.8% | โ60.8% | โ80.8% | โ46.0% | โ15.9% | 3.6% |
| EBITDA margin | โ68.7% | โ37.9% | โ59.7% | โ79.1% | โ44.9% | โ15.4% | 3.9% |
| Net margin | โ66.6% | โ37.2% | โ58.1% | โ70.2% | โ26.2% | 1.7% | 18.0% |
| FCF margin | โ55.8% | โ29.1% | โ43.8% | โ34.3% | 15.2% | 25.5% | 23.0% |
| Returns | |||||||
| Return on capital employed | โ | โ39.8% | โ16.1% | โ17.3% | โ10.8% | โ4.7% | 1.1% |
| Return on equity | โ | โ | โ37.0% | โ14.1% | โ6.2% | 0.5% | 5.7% |
| Return on assets | โ | โ25.0% | โ23.2% | โ12.7% | โ5.7% | 0.5% | 5.2% |
| Return on tangible equity | โ | โ | โ15.8% | โ15.2% | โ6.2% | 0.5% | 5.7% |
| Growth | |||||||
| Revenue growth | โ | 70.0% | 67.9% | โ31.1% | 10.5% | 29.8% | 7.8% |
| Net income growth | โ | โ | โ | โ | โ | โ | 1,058.5% |
| EPS growth | โ | โ | โ | โ | โ | โ | 800.0% |
| FCF growth | โ | โ | โ | โ | โ | 118.0% | โ3.0% |
| Share count change | โ | 0.0% | 120.4% | 13.2% | 0.4% | 6.4% | 3.9% |
| Financial health | |||||||
| Current ratio | โ | 2.7x | 10.9x | 12.6x | 9.7x | 9.6x | 9.6x |
| Quick ratio | โ | 2.2x | 10.3x | 12.0x | 9.3x | 9.3x | 9.3x |
| Capital allocation | |||||||
| Capex / revenue | 2.4% | 1.8% | 2.1% | 0.3% | 0.7% | 1.4% | 2.2% |
| Stock comp / revenue | 4.9% | 5.3% | 21.9% | 33.2% | 28.4% | 22.7% | 6.9% |
| Payouts / FCF | โ | โ | โ | โ | 9.6% | 43.4% | 94.5% |
| Quality scores | |||||||
| Piotroski F-score | โ | โ | 4.0 | 4.0 | 5.0 | 6.0 | 7.0 |
| Altman Z'' | โ | โ2.0 | 12.4 | 13.9 | 12.9 | 13.8 | 13.7 |
| Accruals ratio | โ | โ6.6% | โ6.5% | โ6.6% | โ9.1% | โ6.9% | โ2.1% |
Source: SEC EDGAR XBRL filings (CIK 0001829118). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.