PLAYWITH Inc (023770) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of PLAYWITH Inc KRW 7,935, price KRW 2,645, upside +200.0%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range 2,290 KRW – 17,550 KRW · fair‑value band 4,741 KRW – 12,765 KRW · the 2,645 KRW price screens below the 7,935 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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PLAYWITH Inc. develops, manufactures, and supplies game software in South Korea and internationally. The company develops and publishes online, mobile, and PC games. It is also involved in the marketing and licensing, and game development support businesses. PLAYWITH Inc. was founded in 1984 and is headquartered in Seongnam, South Korea.
Stock analysis
PLAYWITH Inc (023770) currently trades at 2,645 KRW, while our model-based Fair Value estimate is 7,935 KRW, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 11,498 KRW per share, and 10 of the 11 models we run sit above the 2,645 KRW price.
Bear case: the Asset-Based group reads lowest at 1,342 KRW, and 1 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 4,741 KRW (bear) to 12,765 KRW (bull), the price of 2,645 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 64/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
PLAYWITH Inc reported revenue of 34.7B KRW in FY2025 versus 13.3B KRW in FY2021, a compound +27.1%/yr. Reported net income was −2.0B KRW in FY2025.
Key figures
Market cap 23.7B KRW (≈ $17.4M) · P/S ratio 1.55 · Net margin −5.8% · Return on equity −4,221% · Return on assets (EBIT) −11.9% · Operating margin −30.5% · Revenue (TTM) 13.3B KRW · Revenue growth (YoY) −12.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 57% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 41% fair-value upside, at 200%, 023770 screens cheaper than that median.
Fair Value models
Bear 4,741 KRWFair Value 7,935 KRWBull 12,765 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.21/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+7.3%
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.
+33.7%
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.
−4.2%
Start year 2020 (pandemic). Over 10 years: +14.9% a year
Revenue growth 19 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.
+2.5%
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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.
31.4% (2020) → −0.3% (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
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−22.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −23.7% a year for the price.
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.Software & IT Services · 38 stocks
Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on assets−3.1% · Bottom 25%
Net margin (TTM)−66.2% · Bottom 25%
Operating margin (TTM)−30.5% · Bottom 25%
Growth and dividend
Revenue growth−12.3% · Below median
Balance sheet
Debt / equity0.06× · Above median
Valuation Multiplesvs Software & IT Services median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "PLAYWITH Inc Fair Value". https://www.fairvalue-calculator.com/stock/023770
Frequently asked questions
Is PLAYWITH Inc (023770) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 7,935 KRW versus a price of 2,645 KRW, about +200% upside (undervalued).
What is the fair value of 023770?
Our model-based fair value for PLAYWITH Inc is 7,935 KRW (as of Sep 27, 2026), built from audited fundamentals. The current price: 2,645 KRW.
What is the quality score of 023770?
PLAYWITH Inc has a Quality Score of 64/100. 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 PLAYWITH Inc (023770)?
Our model-based price target is the fair value of 7,935 KRW (as of Sep 27, 2026) from 11 valuation models. Cautious scenario 4,741 KRW, optimistic scenario 12,765 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the PLAYWITH Inc stock forecast for 2026?
Our models put fair value at 7,935 KRW, about +200% upside versus a price of 2,645 KRW (undervalued). Cautious scenario 4,741 KRW, optimistic scenario 12,765 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of PLAYWITH Inc (023770)?
PLAYWITH Inc reported trailing-twelve-month revenue of about 13.3B KRW (latest available figure, as of Sep 27, 2026).
What growth is priced into PLAYWITH Inc (023770)?
For today's price to be fair in a discounted-cash-flow model, PLAYWITH Inc would have to grow free cash flow by -22.1 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -4.2 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 023770 use?
Our models discount PLAYWITH Inc at 10.4 %: a base by market capitalisation (nano), damped by beta 1.11, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For PLAYWITH Inc that is -22.1 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has PLAYWITH Inc (023770) delivered so far?
Over the past 5 years revenue at PLAYWITH Inc grew -4.2 % a year. The price currently implies -22.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of PLAYWITH Inc (023770) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into PLAYWITH Inc (-22.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of PLAYWITH Inc (023770)?
The free-cash-flow yield on the price is 14.44 %: that much free cash flow PLAYWITH Inc produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of PLAYWITH Inc (023770)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PLAYWITH Inc it is 7,935 KRW per share (as of Sep 27, 2026), against a price of 2,645 KRW. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is PLAYWITH Inc stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 023770 trades below its calculated fair value: price 2,645 KRW, fair value 7,935 KRW, a gap of about +200% (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 023770?
No. The price is what the market pays today (2,645 KRW); the fair value is what the company's own numbers justify (7,935 KRW). For PLAYWITH Inc the two are 5,290 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is PLAYWITH Inc worth?
The market values PLAYWITH Inc at about 23.7B KRW (market capitalisation, as of Sep 27, 2026). Per share that is 2,645 KRW; our models calculate a fair value of 7,935 KRW per share.
What do the bullish and bearish scenarios say about 023770?
Our models span a range for PLAYWITH Inc: cautious scenario 4,741 KRW, base 7,935 KRW, optimistic 12,765 KRW per share (as of Sep 27, 2026, price 2,645 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PLAYWITH Inc (023770)?
Balance-sheet figures for PLAYWITH Inc (as of Sep 27, 2026): debt of 0.06 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 023770 from its 52-week high?
PLAYWITH Inc trades at 2,645 KRW, about 57% below its 52-week high of 6,200 KRW and 16% above the low of 2,290 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 7,935 KRW is for.
Which stocks are comparable to PLAYWITH Inc?
From the same area (Technology) we also value KINX, Inc, Wemade Co, Gabia Inc, Hancom Inc, 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 PLAYWITH Inc stock attractive at the current price?
The data as of Sep 27, 2026: price 2,645 KRW, calculated fair value 7,935 KRW (+200%), Quality Score 64/100, from 11 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 023770 calculated?
We run PLAYWITH Inc through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 7,935 KRW, 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 16.1 % above its aggregate fair value. PLAYWITH Inc currently trades 200 % 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 PLAYWITH Inc (023770)?
The closing price on Sep 23, 2026 was 2,645 KRW. Our model-based fair value is 7,935 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PLAYWITH Inc right now?
The price is below even our cautious bear case (4,741 KRW). The market is more pessimistic than our downside scenario. The model range is unusually wide (4,741 KRW to 12,765 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. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of PLAYWITH Inc
How large is the market capitalisation of PLAYWITH Inc (023770)?
The market capitalisation of PLAYWITH Inc is 23.7B KRW (≈ $17.4M). 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 PLAYWITH Inc (023770)?
The price-to-sales ratio of PLAYWITH Inc is 1.55 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of PLAYWITH Inc (023770)?
The net margin of PLAYWITH Inc is −5.8% (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 PLAYWITH Inc (023770)?
The return on equity (ROE) of PLAYWITH Inc is −4,221% (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 PLAYWITH Inc (023770)?
On an EBIT basis the return on assets of PLAYWITH Inc is −11.9% (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 PLAYWITH Inc (023770)?
The operating margin of PLAYWITH Inc is −30.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PLAYWITH Inc (023770)?
Revenue at PLAYWITH Inc is growing −12.3% versus a year earlier (3y avg +33.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does PLAYWITH Inc (023770) carry?
The net debt of PLAYWITH Inc is 6.0B KRW (fiscal year 2019, ≈ 1.8 yrs of FCF). 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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