Wemade Co.Ltd (112040) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Wemade Co.Ltd KRW 32,519, price KRW 15,190, upside +114.1%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Wemade Co.,Ltd. develops and publishes mobile and online games worldwide. It also engages in the licensing of intellectual property rights. The company was founded in 2000 and is based in Seongnam, South Korea.
Stock analysis
Wemade Co.Ltd (112040) currently trades at 15,190 KRW, while our model-based Fair Value estimate is 32,519 KRW, implying the stock looks roughly 53.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 24,253 KRW per share, and 9 of the 14 models we run sit above the 15,190 KRW price.
Bear case: the Earnings-Based group reads lowest at 5,921 KRW, and 5 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 20,219 KRW (bear) to 51,419 KRW (bull), the price of 15,190 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 48/100 (below-average quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Wemade Co.Ltd reported revenue of 614B KRW in FY2025 versus 335B KRW in FY2021, a compound +16.4%/yr. Reported net income was −18.6B KRW in FY2025.
Key figures
Market cap 513B KRW (≈ $377M) · P/S ratio 1.11 · Dividend yield 1.1% · Net margin −3.0% · Return on equity 7,202% · Return on assets (EBIT) −1.6% · Operating margin −6.5% · Revenue (TTM) 475B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 55% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 48% fair-value upside, at 114%, 112040 screens cheaper than that median.
Fair Value models
Bear 20,219 KRWFair Value 32,519 KRWBull 51,419 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.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.85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−13.7%
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.
+9.8%
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.
+37.2%
Start year 2020 (pandemic). Over 10 years: +17.1% a year
Revenue growth 15 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.
+11.2%
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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.
−11.5% (2020) → 1.8% (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
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).
−5.0%
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 −6.9% 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 · 39 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score48 · Bottom 25%
Fair Value upside+114% · Above median
Profitability
Return on assets−2% · Bottom 25%
Net margin (TTM)27% · Top 25%
Operating margin (TTM)−6% · Bottom 25%
Growth and dividend
Revenue growth71% · Top 25%
Dividend yield (TTM)1.1% · Below median
Balance sheet
Debt / equity0.36× · Highest 25%
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). "Wemade Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/112040
Frequently asked questions
Is Wemade Co.Ltd (112040) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 32,519 KRW versus a price of 15,190 KRW, about +114% upside (undervalued).
What is the fair value of 112040?
Our model-based fair value for Wemade Co.Ltd is 32,519 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 15,190 KRW.
What is the quality score of 112040?
Wemade Co.Ltd has a Quality Score of 48/100. 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 Co.Ltd (112040)?
Our model-based price target is the fair value of 32,519 KRW (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 20,219 KRW, optimistic scenario 51,419 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Wemade Co.Ltd stock forecast for 2026?
Our models put fair value at 32,519 KRW, about +114% upside versus a price of 15,190 KRW (undervalued). Cautious scenario 20,219 KRW, optimistic scenario 51,419 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Wemade Co.Ltd (112040)?
Wemade Co.Ltd reported trailing-twelve-month revenue of about 475B KRW (latest available figure, as of Sep 24, 2026).
Does Wemade Co.Ltd pay a dividend?
Wemade Co.Ltd currently shows a dividend yield of about 1.07% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Wemade Co.Ltd (112040)?
For today's price to be fair in a discounted-cash-flow model, Wemade Co.Ltd would have to grow free cash flow by -5.0 % per year for five years (discount rate 12.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +37.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 112040 use?
Our models discount Wemade Co.Ltd at 12.8 %: a base by market capitalisation (small), damped by beta 1.39, 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 Wemade Co.Ltd that is -5.0 % per year a year over ten years, using the same discount rate (12.8 %) and the same formula as our fair value.
How much growth has Wemade Co.Ltd (112040) delivered so far?
Over the past 5 years revenue at Wemade Co.Ltd grew +37.2 % a year. The price currently implies -5.0 % 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 Wemade Co.Ltd (112040) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Wemade Co.Ltd (-5.0 % 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 Wemade Co.Ltd (112040)?
The free-cash-flow yield on the price is 10.23 %: that much free cash flow Wemade Co.Ltd produces per unit of market value. When it exceeds the discount rate of our models (12.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Wemade Co.Ltd (112040)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Wemade Co.Ltd it is 32,519 KRW per share (as of Sep 24, 2026), against a price of 15,190 KRW. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Wemade Co.Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 112040 trades below its calculated fair value: price 15,190 KRW, fair value 32,519 KRW, a gap of about +114% (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 112040?
No. The price is what the market pays today (15,190 KRW); the fair value is what the company's own numbers justify (32,519 KRW). For Wemade Co.Ltd the two are 17,329 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Wemade Co.Ltd worth?
The market values Wemade Co.Ltd at about 513B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 15,190 KRW; our models calculate a fair value of 32,519 KRW per share.
What do the bullish and bearish scenarios say about 112040?
Our models span a range for Wemade Co.Ltd: cautious scenario 20,219 KRW, base 32,519 KRW, optimistic 51,419 KRW per share (as of Sep 24, 2026, price 15,190 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Wemade Co.Ltd (112040)?
Balance-sheet figures for Wemade Co.Ltd (as of Sep 24, 2026): debt of 0.36 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 112040 from its 52-week high?
Wemade Co.Ltd trades at 15,190 KRW, about 55% below its 52-week high of 33,600 KRW and 7% above the low of 14,160 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 32,519 KRW is for.
Which stocks are comparable to Wemade Co.Ltd?
From the same area (Technology) we also value KINX, Inc, Gabia Inc, Hancom Inc, Webzen 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 Co.Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 15,190 KRW, calculated fair value 32,519 KRW (+114%), Quality Score 48/100, from 14 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 112040 calculated?
We run Wemade Co.Ltd through 14 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 32,519 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 14.0 % above its aggregate fair value. Wemade Co.Ltd currently trades 114 % 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 Wemade Co.Ltd (112040)?
The closing price on Sep 23, 2026 was 15,190 KRW. Our model-based fair value is 32,519 KRW, about +114% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Wemade Co.Ltd right now?
The price is below even our cautious bear case (20,219 KRW). The market is more pessimistic than our downside scenario. 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 (48/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (20,219 KRW to 51,419 KRW) leaves room in how you read the outcome.
Key figures of Wemade Co.Ltd
How large is the market capitalisation of Wemade Co.Ltd (112040)?
The market capitalisation of Wemade Co.Ltd is 513B KRW (≈ $377M). 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 Co.Ltd (112040)?
The price-to-sales ratio of Wemade Co.Ltd is 1.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Wemade Co.Ltd (112040)?
The dividend yield of Wemade Co.Ltd is 1.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Wemade Co.Ltd (112040)?
The net margin of Wemade Co.Ltd is −3.0% (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 Wemade Co.Ltd (112040)?
The return on equity (ROE) of Wemade Co.Ltd is 7,202% (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 Co.Ltd (112040)?
On an EBIT basis the return on assets of Wemade Co.Ltd is −1.6% (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 Co.Ltd (112040)?
The operating margin of Wemade Co.Ltd is −6.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Wemade Co.Ltd (112040)?
Revenue at Wemade Co.Ltd is growing +70.9% versus a year earlier (3y avg +9.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Wemade Co.Ltd (112040)?
Earnings per share at Wemade Co.Ltd are growing +154% versus a year earlier. How much earnings per share grew versus a year earlier.
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