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Tuya Inc.

Rank #396Capital ReturnWatchlistCompare with other stocks

TUYA · NYSE · Technology

Tuya Inc. (TUYA) — Rank #396 by gross profitability (GP/assets 0.14) · ROE 5.7% · Piotroski F-Score 7 / 9.

As-of 2026-10-30 · CIK 0001829118 · all metrics point-in-time as of the filing date.

About

Tuya Inc. provides artificial intelligence (AI) cloud platform services in the People's Republic of China.

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Its AI cloud developer platform delivers a suite of offerings, including platform-as-a-service (PaaS), software-as-a-service (SaaS), and smart solutions to developers of smart device, commercial applications, and industries. The company's PaaS offering enables original equipment manufacturers and brands, and developers to develop, launch, manage, and monetize software-enabled smart devices and services. Its SaaS offering enables businesses to deploy, connect, and manage smart devices in various vertical scenarios for spatial intelligence and cloud-based software value-added services to build their own autonomous and controllable smart business platforms. Its solutions include cube private cloud, smart hospitality, smart residential, commercial lighting, and smart house and real estate. The company also offers a range of other cloud-based value-added services to enhance their ability to develop and manage IoT experiences for businesses, developers, and end users. In addition, it provides smart solutions for smart devices integrated with AI and intelligent software capabilities. The company serves brands, original equipment manufacturers, industry operators, and system integrators across a range of industry verticals, such as smart home and business, renewable energy, education, agriculture, outdoors and sport, and entertainment. Tuya Inc.

was founded in 2014 and is based in Hangzhou, the People's Republic of China.

Industry
Software - Infrastructure
Sector
Technology
State
E9
Filer Category
Large accelerated filer
Fiscal Year End
December 31
Website
tuya.com

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

1,453

Industry

Software - Infrastructure

Exchange

NYSE

11/12

Flags passed

TUYA passes 11/12 quality flags

1 caution to review

  • CAUTION
    Dilution above 2%

    Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

  • PASS
    Gross margin holding
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Deferred revenue growing · RPO outpacing revenue

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.14
Return on equity
5.7%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.11
Current ratio
9.63×
Net cash
$1.03B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
6.9%

Growth

1/2 pass
Revenue growth
7.8%
Piotroski F-Score
7 / 9
Share dilution
3.9%

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 3rd percentile of 36 SIC 7372 peers

Gross profitability (GP / assets)

0.14

Primary signal (Novy-Marx).

3rd pctl of 36 SIC 7372 peers

Return on equity

5.7%

Gross margin

48.2%

11th pctl of 36 SIC 7372 peers

Revenue growth (YoY)

7.8%

RPO growth (YoY)

27.6%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

15.6%

Revenue CAGR (5Y)

12.3%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Cash Flow Health

Is the cash real?

No warning flags · FCF 28% above net income

Free cash flow

$73.90M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

27.7%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

6.9%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

Caution: Dilution above 2% · net cash $1.03B, F-Score 7/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.11

97th pctl of 32 SIC 7372 peers (best = lowest)

Current ratio

9.63×

100th pctl of 36 SIC 7372 peers

Quick ratio

9.09×

Net cash

$1.03B

Cash & equivalents minus total debt.

Piotroski F-Score

7 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Dividend safety

Composite score

1.2 / 5

Weak
Payout ratio
120.7%0/5 Weak
FCF coverage
1.06×2/5 Fair
Dividend growth streak
1 yr1/5 Weak
Balance-sheet health
D/E 0.11 · IC N/A2/5 Fair

Capital allocation quality

Composite score

1.7 / 5

Weak
Share count trend
3.9%1/5 Weak
Buyback timing
N/AN/A
Dividend growth consistency
1 yr1/5 Weak
Net debt trajectory(deleveraging)
0.2%3/5 Good

Lifecycle Phase History

20202025
Hypergrowth
Decline
Startup
Op. Leverage
Capital Return

Price History

TUYA-82.5% · -29.4% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports