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NHN BUGS Corporation (104200) Fair Value & Analysis

Communication Services · KR · Market cap 43.7B KRW

Price2,900 KRW
Fair Value3,352 KRW
Upside+15.6%
Quality95/100
Evidence: Medium Range 2,836 KRW – 3,868 KRW

Fair value as of: Jun 25, 2026

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Analysis

NHN BUGS Corporation (104200) currently trades at 2,900 KRW, while our model-based Fair Value estimate is 3,352 KRW — implying the stock looks roughly 15.6% undervalued today. We read business quality at 95/100 (high quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium) — always confirm before acting.

About the company

NHN BUGS Corporation provides digital music service and music distribution through Bucks and SNS music portals in South Korea, the United States, and internationally. The company operates through B2C and B2B Business divisions. It provides Bugs that music in the form of download or streaming through internet sites and mobile devices, such as mobile phones and tablet PCs; and Say Club and Say cast, a social network service business that secures users through community services, including internet music broadcasting and chatting. The company was formerly known as Bugs Corporation and changed its name to NHN Bugs Corp. in March 2017. NHN BUGS Corporation was founded in 2002 and is headquartered in Seoul, South Korea.

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Frequently asked questions

Is NHN BUGS Corporation (104200) undervalued?
As of Jun 25, 2026, our model estimates a fair value of 3,352 KRW versus a price of 2,900 KRW — about +16% (undervalued). Model-based estimate, not financial advice.
What is the fair value of 104200?
Our 21-model fair value for NHN BUGS Corporation is 3,352 KRW (as of Jun 25, 2026), built from audited fundamentals. The current price is 2,900 KRW.
What is the quality score of 104200?
NHN BUGS Corporation has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.