Wemade Max Co. Ltd (101730) Fair Value & Analysis
Technology · KR · Market cap 309B KRW
Fair value as of: Aug 13, 2026
From 1 valuation models · updated 6 days ago
Fair value updated Aug 13, 2026, revised from 825.00 KRW to 1,014 KRW (+22.9%) since Jul 22, 2026. Share price +25.8% over the past month.
Below-average quality, and screening another 79% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (1,268 KRW). The favourable scenario is already priced in.
- Weak quality (39/100) 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 (669.25 KRW to 1,268 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 Aug 13, 2026.
How to read this chart
60‑month range 2,665 KRW – 58,000 KRW · fair‑value band 669.25 KRW – 1,268 KRW · the 4,850 KRW price screens above the 1,014 KRW fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Wemade Max Co. Ltd (101730) currently trades at 4,850 KRW, while our model-based Fair Value estimate is 1,014 KRW, implying the stock looks roughly 79.1% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Over the trailing twelve months, Wemade Max Co. Ltd generated revenue of 77.2B KRW at a net margin of 33.4%. Revenue grew 168.3% year over year. Fundamentals as of Aug 13, 2026
Our scenario range runs from 669.25 KRW (bear case) to 1,268 KRW (bull case); at 4,850 KRW, the current price sits above 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 54% below its 52-week high and 53% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at 87% fair-value upside, at -79%, 101730 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 1 models by family
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Key figures & financial health
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 28
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.
About the company
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. The company was founded in 1997 and is based in Seongnam, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
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.
101730 screens 79% overvalued. Compare with KINX, Inc →
Peer Group
Software & IT Services · 34 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.
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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software & IT Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| KINX, Inc 093320 | 141,900 KRW | 74,800 KRW | -47% |
| 504067 504067 | ₹490.95 | ₹1,754 | +257% |
| Wemade Co 112040 | 17,830 KRW | 9,700 KRW | -46% |
| Gabia Inc 079940 | 43,200 KRW | 33,925 KRW | -21% |
| Hancom Inc 030520 | 17,110 KRW | 44,234 KRW | +159% |
| Webzen Inc 069080 | 11,830 KRW | 12,748 KRW | +8% |
| NEOWIZ 095660 | 18,130 KRW | 46,407 KRW | +156% |
| GalaxiaMoneytree Co 094480 | 5,250 KRW | 3,778 KRW | -28% |
| DAEA TI Co 045390 | 2,635 KRW | 4,940 KRW | +87% |
| 542597 542597 | ₹702.65 | ₹2,808 | +300% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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