Wemade Max Co. Ltd (101730) fair value: what the stock is really worth
As of Oct 21, 2026: fair value (intrinsic value) of Wemade Max Co. Ltd stock KRW 825, price KRW 4,115, upside -80.0%, quality 38 out of 100. Rating: strongly overvalued. 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 Oct 4, 2026.
How to read this chart
60‑month range 2,665 KRW – 58,000 KRW · fair‑value band 544.50 KRW – 1,031 KRW · the 4,115 KRW price screens above the 825.00 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 4, 2026.
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Wemade Max Co., Ltd. develops and offers mobile games worldwide. It provides games, such as Windrunner, Candypang, Wind Soul, Hero Stone, God of GoStop, and Silkroad. The company was formerly known as JOYMAX Co.,Ltd. and changed its name to Wemade Max Co., Ltd. in March 2021.
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The company was founded in 1997 and is based in Seongnam, South Korea.
Stock analysis
Wemade Max Co. Ltd (101730) currently trades at 4,115 KRW, while our model-based Fair Value estimate is 825.00 KRW, 80.0% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 94/100, which puts the data coverage at low.
Scenario range: 544.50 KRW (bear) to 1,031 KRW (bull), the price of 4,115 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 38/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Wemade Max Co. Ltd reported revenue of 149B KRW in FY2025 versus 35.5B KRW in FY2021, a compound +43.1%/yr. Reported net income was −35.5B KRW in FY2025.
Key figures
Market cap 385B KRW (≈ $291M) Micro · P/S ratio 4.98 · Net margin 33.4% · Return on equity −414% · Return on assets (EBIT) 1.9% · Operating margin 30.8% · Revenue (TTM) 77.2B KRW · Revenue growth (YoY) +168%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (medium confidence).
What moves the price
The share trades about 49% below its 52-week high and 54% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −80%, 101730 screens richer than that median.
Fair Value models
Bear544.50 KRWFair Value 825.00 KRWBull1,031 KRW
Price 4,115 KRW · Upside -80.0%
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.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+98.5%
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.
+20.0%
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.
+31.5%
Start year 2020 (pandemic). Over 10 years: +17.3% a year
Revenue growth 14 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.
+13.1%
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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.
−20.7% (2020) → −32.4% (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.Software & IT Services · 38 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score38 · Bottom 25%
Fair Value upside−80.0% · Bottom 25%
Profitability
Return on assets−6.3% · Bottom 25%
Net margin (12 months)33.4% · Top 25%
Operating margin (12 months)30.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)168.3% · Top 25%
Valuation Multiplesvs Software & IT Services median · lower = cheaper
P/B0.83× · Pricier than median
P/S (12 months)4.98× · Priciest 25%
EV/EBITDA11.5× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 47
FUTURE (revenue growth)100· sector 11
PAST (return on equity)0· sector 100
HEALTH (low debt)100· sector 99
DIVIDEND (yield)0· sector 26
VALUE 0: the price sits above our fair-value range.
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). "Wemade Max Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/101730
Frequently asked questions
Is Wemade Max Co. Ltd (101730) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of 825.00 KRW versus a price of 4,115 KRW, about −80% upside (overvalued).
What is the fair value of 101730?
Our model-based fair value for Wemade Max Co. Ltd is 825.00 KRW (as of Oct 4, 2026), built from audited fundamentals. The current price: 4,115 KRW.
What is the quality score of 101730?
Wemade Max 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 Wemade Max Co. Ltd (101730)?
Our model-based price target is the fair value of 825.00 KRW (as of Oct 4, 2026) from 1 valuation models. Cautious scenario 544.50 KRW, optimistic scenario 1,031 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Wemade Max Co. Ltd stock forecast for 2026?
Our models put fair value at 825.00 KRW, about −80% upside versus a price of 4,115 KRW (overvalued). Cautious scenario 544.50 KRW, optimistic scenario 1,031 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Wemade Max Co. Ltd (101730)?
Wemade Max Co. Ltd reported trailing-twelve-month revenue of about 77.2B KRW (latest available figure, as of Oct 4, 2026).
What is the intrinsic value of Wemade Max Co. Ltd (101730)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wemade Max Co. Ltd it is 825.00 KRW per share (as of Oct 4, 2026), against a price of 4,115 KRW. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Wemade Max Co. Ltd stock overvalued or undervalued in 2026?
As of Oct 4, 2026, 101730 trades above its calculated fair value: price 4,115 KRW, fair value 825.00 KRW, a gap of about −80% (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 101730?
No. The price is what the market pays today (4,115 KRW); the fair value is what the company's own numbers justify (825.00 KRW). For Wemade Max Co. Ltd the two are 3,290 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Wemade Max Co. Ltd worth?
The market values Wemade Max Co. Ltd at about 385B KRW (market capitalisation, as of Oct 4, 2026). Per share that is 4,115 KRW; our models calculate a fair value of 825.00 KRW per share.
What do the bullish and bearish scenarios say about 101730?
Our models span a range for Wemade Max Co. Ltd: cautious scenario 544.50 KRW, base 825.00 KRW, optimistic 1,031 KRW per share (as of Oct 4, 2026, price 4,115 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Wemade Max Co. Ltd (101730)?
Balance-sheet figures for Wemade Max Co. Ltd (as of Oct 4, 2026): return on equity −414.3%. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 101730 from its 52-week high?
Wemade Max Co. Ltd trades at 4,115 KRW, about 49% below its 52-week high of 8,100 KRW and 54% above the low of 2,665 KRW (as of Oct 21, 2026). Distance from the high says nothing about value: that is what the fair value of 825.00 KRW is for.
Which stocks are comparable to Wemade Max Co. Ltd?
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 Wemade Max Co. Ltd stock attractive at the current price?
The data as of Oct 4, 2026: price 4,115 KRW, calculated fair value 825.00 KRW (−80%), Quality Score 38/100, from 1 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 101730 calculated?
We run Wemade Max Co. Ltd through 1 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 825.00 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 13.6 % above its aggregate fair value. Wemade Max Co. Ltd 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 Wemade Max Co. Ltd (101730)?
The closing price on Oct 21, 2026 was 4,115 KRW. Our model-based fair value is 825.00 KRW, about −80% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wemade Max Co. Ltd right now?
The price sits above even our optimistic bull case (1,031 KRW). The favourable scenario is already priced in. Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (544.50 KRW to 1,031 KRW) leaves room in how you read the outcome.
Key figures of Wemade Max Co. Ltd
How large is the market capitalisation of Wemade Max Co. Ltd (101730)?
The market capitalisation of Wemade Max Co. Ltd is 385B KRW (≈ $291M). 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 Wemade Max Co. Ltd (101730)?
The price-to-sales ratio of Wemade Max Co. Ltd is 4.98 (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 Wemade Max Co. Ltd (101730)?
The net margin of Wemade Max Co. Ltd is 33.4% (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 Wemade Max Co. Ltd (101730)?
The return on equity (ROE) of Wemade Max Co. Ltd is −414% (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 Wemade Max Co. Ltd (101730)?
On an EBIT basis the return on assets of Wemade Max Co. Ltd is 1.9% (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 Wemade Max Co. Ltd (101730)?
The operating margin of Wemade Max Co. Ltd is 30.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wemade Max Co. Ltd (101730)?
Revenue at Wemade Max Co. Ltd is growing +168% versus a year earlier (3y avg +20.0%). 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 Wemade Max Co. Ltd (101730) generate?
The free cash flow of Wemade Max Co. Ltd is −30.3B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Thin data
Oct 4, 2026