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FNC Entertainment Co Ltd (173940) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of FNC Entertainment Co Ltd stock KRW 3,752, price KRW 1,977, upside +89.8%, quality 38 out of 100. Rating: strongly undervalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.

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Communication Services KR · ISIN KR7173940008

FE FNC Entertainment Co Ltd logo Thin data Nov 3, 2026

FNC Entertainment Co Ltd

173940 · KQ
Cheap, value-trap risk

The stock costs 47% less than our calculation considers fair.

Fair value 3,752 KRW · Strongly undervalued
Low debt
Even on cautious assumptions the value is 42% above the price (2,807 KRW).
Expensive Growth (revenue 5y +7.2 %/yr in KRW)
Quality 38/100
Loss-making · -9.0% net margin (TTM)
Negative free cash flow
Trails peers (3/11)
Narrow moat 9/100
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

11,300 KRW 1,977 KRW Fair Value 3,752 KRW Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

60‑month range 1,977 KRW – 11,300 KRW · fair‑value band 2,807 KRW – 4,696 KRW · the 1,977 KRW price screens below the 3,752 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.

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Company profile

FNC ENTERTAINMENT Co., Ltd., together with its subsidiaries, engages in the planning, production, distribution, and management of music in South Korea, Japan, the United States, and internationally. It operates through the Entertainment Business and Media Content Production Business segments.

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The company is involved in talent management and casting; production of concerts, albums, dramas, films, and music for dramas and movies; and merchandising activities. FNC ENTERTAINMENT Co., Ltd. was founded in 2006 and is headquartered in Seoul, South Korea.

Stock analysis

FNC Entertainment Co Ltd (173940) currently trades at 1,977 KRW, while our model-based Fair Value estimate is 3,752 KRW, implying the stock looks roughly 47% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 94/100, which puts the data coverage at low.

Scenario range: 2,807 KRW (bear) to 4,696 KRW (bull), the price of 1,977 KRW sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 38/100 (below-average quality), in the Communication Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

FNC Entertainment Co Ltd reported revenue of 102B KRW in FY2025 versus 74.2B KRW in FY2021, a compound +8.4%/yr. Reported net income was −11.8B KRW in FY2025.

Key figures

Market cap 29.5B KRW (≈ $21.8M) Micro · P/S ratio 0.26 · EPS (TTM) −684.40 KRW · Net margin −9.0% · Return on equity −45.8% · Return on assets (EBIT) −6.2% (5-year average) · Operating margin −15.4% · Revenue (TTM) 114B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).

What moves the price

The share trades about 61% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at −13% fair-value upside, at 90%, 173940 screens cheaper than that median.

Fair Value models

Bear 2,807 KRW Fair Value 3,752 KRW Bull 4,696 KRW
Price 1,977 KRW · Upside +89.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EV/EBITDA 2,807 KRW 3,752 KRW 4,696 KRW 67
NCAV (Graham) 269.55 KRW 361.20 KRW 539.10 KRW 54
All 2 models by family
Multiples
EV/EBITDA 2,807 KRW 3,752 KRW 4,696 KRW 67
Asset-Based
NCAV (Graham) 269.55 KRW 361.20 KRW 539.10 KRW 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 38/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 18
How much profit the company makes from its sales and capital
Quality Growth 53
Are margins and returns getting better?
Cashflow 2
Do the profits arrive as real cash?
Financial strength 38
Debt, balance sheet and risk of trouble
Investment 74
Does it invest with discipline instead of growing at any price?
Low Volatility 66
How calm the share price moves, does not count
Price momentum 11
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 80
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 28/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+18.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.2%
Start year 2020 (pandemic). Over 10 years: +3.5% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.0%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−10.8% (2020) → −0.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Compare FNC Entertainment Co Ltd with another stock

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Peer Groupⓘ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.Entertainment · 221 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Bottom 25%
Fair Value upside +89.8% · Top 25%
Profitability
Return on assets −10.7% · Bottom 25%
Net margin (12 months) −9.0% · Below median
Operating margin (12 months) −15.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −16.8% · Bottom 25%
Balance sheet
Debt / equity 0.14× · Above median

Valuation Multiplesvs Entertainment median · lower = cheaper

P/B 1.52× · Pricier than median
P/S (12 months) 0.26× · Cheapest 25%
EV/EBITDA 1.6× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 30
FUTURE (revenue growth)0 · sector 22
PAST (return on equity)0 · sector 5
HEALTH (low debt)93 · sector 96
DIVIDEND (yield)0 · sector 46

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Entertainment stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Universal Music Group UMG €17.10 €19.56 +14% vs 173940
Fox Corporation FOX $59.50 $65.92 +11% vs 173940
Netflix, Inc NFLX $63.41 $69.75 +10% vs 173940
Formula One Group FWONK $106.33 $112.18 +6% vs 173940
The Walt Disney Company DIS $116.75 $101.07 −13% vs 173940
News Corporation NWS $28.96 $17.05 −41% vs 173940
Roku, Inc ROKU $160.52 $71.66 −55% vs 173940
TKO Group TKO $191.00 $69.66 −64% vs 173940
Warner Music Group WMG $31.30 $10.61 −66% vs 173940
Live Nation Entertainment, Inc LYV $175.25 $47.75 −73% vs 173940

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FNC Entertainment Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "FNC Entertainment Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/173940

Frequently asked questions

Is FNC Entertainment Co Ltd (173940) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 3,752 KRW versus a price of 1,977 KRW, about +90% upside (undervalued).
What is the fair value of 173940?
Our model-based fair value for FNC Entertainment Co Ltd is 3,752 KRW (as of Nov 3, 2026), built from audited fundamentals. The current price: 1,977 KRW.
What is the quality score of 173940?
FNC Entertainment Co Ltd has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for FNC Entertainment Co Ltd (173940)?
Our model-based price target is the fair value of 3,752 KRW (as of Nov 3, 2026) from 2 valuation models. Cautious scenario 2,807 KRW, optimistic scenario 4,696 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the FNC Entertainment Co Ltd stock forecast for 2026?
Our models put fair value at 3,752 KRW, about +90% upside versus a price of 1,977 KRW (undervalued). Cautious scenario 2,807 KRW, optimistic scenario 4,696 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of FNC Entertainment Co Ltd (173940)?
FNC Entertainment Co Ltd reported trailing-twelve-month revenue of about 114B KRW (latest available figure, as of Nov 3, 2026).
What is the intrinsic value of FNC Entertainment Co Ltd (173940)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FNC Entertainment Co Ltd it is 3,752 KRW per share (as of Nov 3, 2026), against a price of 1,977 KRW. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is FNC Entertainment Co Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 173940 trades below its calculated fair value: price 1,977 KRW, fair value 3,752 KRW, a gap of about +90% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 173940?
No. The price is what the market pays today (1,977 KRW); the fair value is what the company's own numbers justify (3,752 KRW). For FNC Entertainment Co Ltd the two are 1,775 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is FNC Entertainment Co Ltd worth?
The market values FNC Entertainment Co Ltd at about 29.5B KRW (market capitalisation, as of Nov 3, 2026). Per share that is 1,977 KRW; our models calculate a fair value of 3,752 KRW per share.
What do the bullish and bearish scenarios say about 173940?
Our models span a range for FNC Entertainment Co Ltd: cautious scenario 2,807 KRW, base 3,752 KRW, optimistic 4,696 KRW per share (as of Nov 3, 2026, price 1,977 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of FNC Entertainment Co Ltd (173940)?
Balance-sheet figures for FNC Entertainment Co Ltd (as of Nov 3, 2026): return on equity −45.8%, debt of 0.14 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 173940 from its 52-week high?
FNC Entertainment Co Ltd trades at 1,977 KRW, about 61% below its 52-week high of 5,050 KRW and at the low of 1,977 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 3,752 KRW is for.
Which stocks are comparable to FNC Entertainment Co Ltd?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Live Nation Entertainment, Inc, TKO Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is FNC Entertainment Co Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price 1,977 KRW, calculated fair value 3,752 KRW (+90%), Quality Score 38/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 173940 calculated?
We run FNC Entertainment Co Ltd through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of 3,752 KRW builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. FNC Entertainment Co Ltd currently trades 47% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of FNC Entertainment Co Ltd (173940)?
The closing price on Nov 6, 2026 was 1,977 KRW. Our model-based fair value is 3,752 KRW, about +90% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FNC Entertainment Co Ltd right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (2,807 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of FNC Entertainment Co Ltd

How large is the market capitalisation of FNC Entertainment Co Ltd (173940)?
The market capitalisation of FNC Entertainment Co Ltd is 29.5B KRW (≈ $21.8M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of FNC Entertainment Co Ltd (173940)?
The price-to-sales ratio of FNC Entertainment Co Ltd is 0.26 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of FNC Entertainment Co Ltd (173940)?
Earnings per share at FNC Entertainment Co Ltd are −684.40 KRW. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of FNC Entertainment Co Ltd (173940)?
The net margin of FNC Entertainment Co Ltd is −9.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of FNC Entertainment Co Ltd (173940)?
The return on equity (ROE) of FNC Entertainment Co Ltd is −45.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of FNC Entertainment Co Ltd (173940)?
On an EBIT basis the return on assets of FNC Entertainment Co Ltd is −6.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of FNC Entertainment Co Ltd (173940)?
The operating margin of FNC Entertainment Co Ltd is −15.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FNC Entertainment Co Ltd (173940)?
Revenue at FNC Entertainment Co Ltd is growing −16.8% versus a year earlier (3y avg +15.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does FNC Entertainment Co Ltd (173940) generate?
The free cash flow of FNC Entertainment Co Ltd is −18.8B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does FNC Entertainment Co Ltd (173940) carry?
The net debt of FNC Entertainment Co Ltd is 394M KRW (fiscal year 2021). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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