Netmarble Games Corp (251270) Fair Value & Analysis
Communication Services · KR · Market cap 2.9T KRW (≈ $2.0B) · ISIN KR7251270005
What is Netmarble Games Corp really worth?
A solid business, trading 38% below our fair value of 58,727 KRW.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 24 valuation models · updated today
Share price −4.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case (41,519 KRW). The market is more pessimistic than our downside scenario.
- Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (41,519 KRW to 75,529 KRW) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range 34,900 KRW – 142,005 KRW · fair‑value band 41,519 KRW – 75,529 KRW · the 36,300 KRW price screens below the 58,727 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 5, 2026.
Analysis
Netmarble Games Corp (251270) currently trades at 36,300 KRW, while our model-based Fair Value estimate is 58,727 KRW, implying the stock looks roughly 38.2% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Communication Services sector. Bull case: the DCF Models group reads highest at a median of 66,317 KRW per share, and 22 of the 24 models we run sit above the 36,300 KRW price. Bear case: the Earnings-Based group reads lowest at 16,699 KRW, and 2 of the 24 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Netmarble Games Corp generated revenue of 2.9T KRW at a net margin of 12.5%. Revenue grew 4.5% year over year. It earns a return on equity of 6.4%. Net debt stands at 828B KRW. Fundamentals as of Sep 5, 2026
Our scenario range runs from 41,519 KRW (bear case) to 75,529 KRW (bull case); at 36,300 KRW, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 47% below its 52-week high, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at −46% fair-value upside, at 62%, 251270 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models (66,317 KRW) versus Earnings-Based (16,699 KRW). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 22
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Netmarble Corporation develops and publishes PC, mobile, and console games in South Korea and internationally. The company was founded in 2000 and is based in Seoul, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Netmarble Games Corp reported revenue of 2.8T KRW in FY2025 versus 2.5T KRW in FY2021, a compound +3.1%/yr. Reported net income was 225B KRW in FY2025, compounding −1.6%/yr from FY2021.
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Peer Group
Electronic Gaming & Multimedia · 150 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Electronic Gaming & Multimedia median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Konami Group KNM | £221.05 | £71.97 | −67% |
| NetEase, Inc 9999 | HK$188.80 | HK$263.39 | +40% |
| Electronic Arts Inc EA | $209.70 | $76.57 | −63% |
| Take-Two Interactive Software, Inc TTWO | $233.00 | $60.20 | −74% |
| Roblox Corporation RBLX | $41.29 | $21.20 | −49% |
| Zhejiang Century Huatong Group 002602 | ¥13.90 | ¥14.68 | +6% |
| KRAFTON, Inc 259960 | 234,500 KRW | 356,218 KRW | +52% |
| Giant Network Group 002558 | ¥28.57 | ¥15.50 | −46% |
| International Games System Co 3293 | 762.00 TWD | 568.16 TWD | −25% |
| CD Projekt S.A CDR | 234.40 PLN | 64.48 PLN | −72% |
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