KB No4 SPAC (205500) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of KB No4 SPAC stock KRW 184, price KRW 1,561, that is 88.2% below the price, quality 34 out of 100. Rating: strongly overvalued. Calculated from audited financials with 4 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 982.00 KRW – 8,750 KRW · fair‑value band 68.51 KRW – 299.45 KRW · the 1,561 KRW price screens above the 183.98 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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NEXUS Co., Ltd. develops mobile games in South Korea. It offers various games, such as blade I, Blades of Three Kingdoms, BLADE II, ANVIL, Kingdom: The Blood, Blade: Re.Action, Project AE, and Dungeon Stalkers.
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The company was formerly known as Action Square CO., LTD. and changed its name to NEXUS Co., Ltd. in February 2025. The company was founded in 2012 and is based in Seoul, South Korea.
Stock analysis
KB No4 SPAC (205500) currently trades at 1,561 KRW, while our model-based Fair Value estimate is 183.98 KRW, 88% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 4 models at a data quality of 95/100, which puts the data coverage at low.
Scenario range: 68.51 KRW (bear) to 299.45 KRW (bull), the price of 1,561 KRW sits above 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 34/100 (below-average quality), in the Communication Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
KB No4 SPAC reported revenue of 36.7B KRW in FY2025 versus 5.6B KRW in FY2021, a compound +59.9%/yr. Reported net income was −3.3B KRW in FY2025.
Key figures
Market cap 126B KRW (≈ $93.4M) Micro · P/E ratio 39.0 · P/S ratio 3.43 · EPS (TTM) 40.87 KRW · Net margin −9.1% · Return on equity 5.1% · Return on assets (EBIT) −20.9% (5-year average) · Operating margin −88.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (medium confidence).
What moves the price
The share trades about 42% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 50% fair-value upside, at −88%, 205500 screens richer than that median.
Fair Value models
Bear68.51 KRWFair Value 183.98 KRWBull299.45 KRW
Price 1,561 KRW · Downside -88.2%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (35.05 KRW per share) are deliberately not added.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.
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.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+386.3%
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.
+85.4%
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.
+44.5%
Start year 2020 (pandemic). Over 10 years: +18.6% a year
Revenue growth 10 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.
+18.6%
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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.
−31.7% (2020) → 3.8% (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
Price, fair value, quality and upside side by side.
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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.Electronic Gaming & Multimedia · 164 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is KB No4 SPAC (205500) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 183.98 KRW versus a price of 1,561 KRW, about 88% lower (overvalued).
What is the fair value of 205500?
Our model-based fair value for KB No4 SPAC is 183.98 KRW (as of Nov 7, 2026), built from audited fundamentals. The current price: 1,561 KRW.
What is the quality score of 205500?
KB No4 SPAC has a Quality Score of 34/100. 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 KB No4 SPAC (205500)?
Our model-based price target is the fair value of 183.98 KRW (as of Nov 7, 2026) from 4 valuation models. Cautious scenario 68.51 KRW, optimistic scenario 299.45 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the KB No4 SPAC stock forecast for 2026?
Our models put fair value at 183.98 KRW, about 88% lower versus a price of 1,561 KRW (overvalued). Cautious scenario 68.51 KRW, optimistic scenario 299.45 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of KB No4 SPAC (205500)?
KB No4 SPAC reported trailing-twelve-month revenue of about 38.2B KRW (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of KB No4 SPAC (205500)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KB No4 SPAC it is 183.98 KRW per share (as of Nov 7, 2026), against a price of 1,561 KRW. It is the blended result of 4 valuation models in 2 families (Multiples, Asset-Based).
Is KB No4 SPAC stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 205500 trades above its calculated fair value: price 1,561 KRW, fair value 183.98 KRW, a gap of about −88% (overvalued). 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 205500?
No. The price is what the market pays today (1,561 KRW); the fair value is what the company's own numbers justify (183.98 KRW). For KB No4 SPAC the two are 1,377 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is KB No4 SPAC worth?
The market values KB No4 SPAC at about 126B KRW (market capitalisation, as of Nov 7, 2026). Per share that is 1,561 KRW; our models calculate a fair value of 183.98 KRW per share.
What do the bullish and bearish scenarios say about 205500?
Our models span a range for KB No4 SPAC: cautious scenario 68.51 KRW, base 183.98 KRW, optimistic 299.45 KRW per share (as of Nov 7, 2026, price 1,561 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 205500?
KB No4 SPAC trades at a price-to-earnings ratio of 39.0 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 183.98 KRW is built from several models across several years. Other multiples: P/B 4.2, P/S 3.3.
How solid is the balance sheet of KB No4 SPAC (205500)?
Balance-sheet figures for KB No4 SPAC (as of Nov 7, 2026): return on equity 5.1%, debt of 0.81 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is 205500 from its 52-week high?
KB No4 SPAC trades at 1,561 KRW, about 42% below its 52-week high of 2,690 KRW and 7% above the low of 1,463 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 183.98 KRW is for.
Which stocks are comparable to KB No4 SPAC?
From the same area (Communication Services) we also value NetEase, Inc, Take-Two Interactive Software, Inc, Roblox Corporation, Zhejiang Century Huatong 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 KB No4 SPAC stock attractive at the current price?
The data as of Nov 7, 2026: price 1,561 KRW, calculated fair value 183.98 KRW (−88%), Quality Score 34/100, from 4 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 205500 calculated?
We run KB No4 SPAC through 4 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of 183.98 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. KB No4 SPAC itself currently trades above fair value. 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 KB No4 SPAC (205500)?
The closing price on Nov 6, 2026 was 1,561 KRW. Our model-based fair value is 183.98 KRW, about 88% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KB No4 SPAC right now?
The price sits above even our optimistic bull case (299.45 KRW). The favourable scenario is already priced in. Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (68.51 KRW to 299.45 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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 KB No4 SPAC
How large is the market capitalisation of KB No4 SPAC (205500)?
The market capitalisation of KB No4 SPAC is 126B KRW (≈ $93.4M). 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 KB No4 SPAC (205500)?
The price-to-sales ratio of KB No4 SPAC is 3.43 (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 KB No4 SPAC (205500)?
Earnings per share at KB No4 SPAC are 40.87 KRW (price ÷ EPS = P/E 39.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of KB No4 SPAC (205500)?
The net margin of KB No4 SPAC is −9.1% (fiscal year 2025). 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 KB No4 SPAC (205500)?
The return on equity (ROE) of KB No4 SPAC is 5.1% (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 KB No4 SPAC (205500)?
On an EBIT basis the return on assets of KB No4 SPAC is −20.9% (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 KB No4 SPAC (205500)?
The operating margin of KB No4 SPAC is −88.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KB No4 SPAC (205500)?
Revenue at KB No4 SPAC is growing −37.9% versus a year earlier (3y avg +85.4%). 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 KB No4 SPAC (205500) generate?
The free cash flow of KB No4 SPAC is −42.2B 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 KB No4 SPAC (205500) carry?
The net debt of KB No4 SPAC is 22.6B KRW (fiscal year 2025). 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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Thin data
Nov 7, 2026