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FNC Entertainment Co Ltd (173940) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of FNC Entertainment Co Ltd KRW 3,752, price KRW 2,005, upside +87.1%, quality 41 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Communication Services · KR · ISIN KR7173940008

FE Thin data Sep 24, 2026

FNC Entertainment Co Ltd

173940 · KQ

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 3,752 KRW · Strongly undervalued (+87%)
!Quality 41/100
!Expensive Growth (revenue 5y +7.2 %/yr)
!Loss-making · -5.2% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (4/8)
!Narrow moat 16/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

11,300 KRW 2,005 KRW Fair Value 3,752 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 2,005 KRW – 11,300 KRW · fair‑value band 2,807 KRW – 4,696 KRW · the 2,005 KRW price screens below the 3,752 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

FNC ENTERTAINMENT Co., Ltd., together with its subsidiaries, engages in the planning, production, distribution, and management of music in South Korea, Japan, the United States, and internationally. It operates through the Entertainment Business and Media Content Production Business segments.

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FNC ENTERTAINMENT Co., Ltd., together with its subsidiaries, engages in the planning, production, distribution, and management of music in South Korea, Japan, the United States, and internationally. It operates through the Entertainment Business and Media Content Production Business segments. The company is involved in talent management and casting; production of concerts, albums, dramas, films, and music for dramas and movies; and merchandising activities. FNC ENTERTAINMENT Co., Ltd. was founded in 2006 and is headquartered in Seoul, South Korea.

Stock analysis

FNC Entertainment Co Ltd (173940) currently trades at 2,005 KRW, while our model-based Fair Value estimate is 3,752 KRW, implying the stock looks roughly 46.6% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: 2,807 KRW (bear) to 4,696 KRW (bull), the price of 2,005 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 41/100 (below-average quality), in the Communication Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

FNC Entertainment Co Ltd reported revenue of 102B KRW in FY2025 versus 74.2B KRW in FY2021, a compound +8.4%/yr. Reported net income was −11.8B KRW in FY2025.

Key figures

Market cap 29.9B KRW (≈ $22.0M) · P/S ratio 0.27 · Net margin −11.5% · Return on equity −24.7% · Return on assets (EBIT) −6.2% · Operating margin 3.0% · Revenue (TTM) 118B KRW · Revenue growth (YoY) +140%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 60% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at −4% fair-value upside, at 87%, 173940 screens cheaper than that median.

Fair Value models

Bear 2,807 KRW Fair Value 3,752 KRW Bull 4,696 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.
Highest evidence
EV/EBITDA 4,252 KRW 5,197 KRW 6,141 KRW 67
NCAV (Graham) 651.53 KRW 873.05 KRW 1,303 KRW 54
All 2 models by family
Multiples
EV/EBITDA 4,252 KRW 5,197 KRW 6,141 KRW 67
Asset-Based
NCAV (Graham) 651.53 KRW 873.05 KRW 1,303 KRW 54

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Quality Score breakdown

Overall quality 41/100

Of which business quality 39 · Market factors (momentum, volatility) 22

Profitability 18
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 2
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 80
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 28/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+18.7%
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.
+15.9%
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.
+7.2%
Start year 2020 (pandemic). Over 10 years: +3.5% a year
Revenue growth 11 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.
+5.0%
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.
−10.8% (2020) → −0.6% (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

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Compare FNC Entertainment Co Ltd with another stock

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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.Entertainment · 261 stocks

Beats the industry median on 4/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 39 · Below median
Fair Value upside +87% · Top 25%
Profitability
Return on assets 2% · Above median
Net margin (TTM) −5% · Below median
Operating margin (TTM) 3% · Above median
Growth and dividend
Revenue growth 140% · Top 25%
Balance sheet
Debt / equity 0.14× · Above median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 33
FUTURE (revenue growth)100 · sector 12
PAST (return on equity)0 · sector 5
HEALTH (low debt)93 · sector 97
DIVIDEND (yield)0 · sector 46

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Entertainment stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Netflix, Inc NFLX $71.72 $78.89 +10%
The Walt Disney Company DIS $105.56 $101.23 −4%
Warner Bros. Discovery, Inc WBD $30.83 $13.47 −56%
Live Nation Entertainment, Inc LYV $169.84 $64.71 −62%
Universal Music Group UMG €14.55 €16.00 +10%
TKO Group TKO $188.87 $95.50 −49%
Formula One Group FWONK $94.62 $104.08 +10%
Fox Corporation FOXA $63.96 $89.49 +40%
Roku, Inc ROKU $153.49 $42.88 −72%
News Corporation NWS A$45.40 A$29.85 −34%

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FNC Entertainment Co Ltd · Fair Value
3,752 KRW +47%Fair Value
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Cite: Fair Value Calculator (2026). "FNC Entertainment Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/173940

Frequently asked questions

Is FNC Entertainment Co Ltd (173940) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3,752 KRW versus a price of 2,005 KRW, about +87% upside (undervalued).
What is the fair value of 173940?
Our model-based fair value for FNC Entertainment Co Ltd is 3,752 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,005 KRW.
What is the quality score of 173940?
FNC Entertainment Co Ltd has a Quality Score of 41/100. 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 FNC Entertainment Co Ltd (173940)?
Our model-based price target is the fair value of 3,752 KRW (as of Sep 24, 2026) from 2 valuation models. Cautious scenario 2,807 KRW, optimistic scenario 4,696 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the FNC Entertainment Co Ltd stock forecast for 2026?
Our models put fair value at 3,752 KRW, about +87% upside versus a price of 2,005 KRW (undervalued). Cautious scenario 2,807 KRW, optimistic scenario 4,696 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of FNC Entertainment Co Ltd (173940)?
FNC Entertainment Co Ltd reported trailing-twelve-month revenue of about 118B KRW (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of FNC Entertainment Co Ltd (173940)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FNC Entertainment Co Ltd it is 3,752 KRW per share (as of Sep 24, 2026), against a price of 2,005 KRW. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is FNC Entertainment Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 173940 trades below its calculated fair value: price 2,005 KRW, fair value 3,752 KRW, a gap of about +87% (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 173940?
No. The price is what the market pays today (2,005 KRW); the fair value is what the company's own numbers justify (3,752 KRW). For FNC Entertainment Co Ltd the two are 1,747 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is FNC Entertainment Co Ltd worth?
The market values FNC Entertainment Co Ltd at about 29.9B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,005 KRW; our models calculate a fair value of 3,752 KRW per share.
What do the bullish and bearish scenarios say about 173940?
Our models span a range for FNC Entertainment Co Ltd: cautious scenario 2,807 KRW, base 3,752 KRW, optimistic 4,696 KRW per share (as of Sep 24, 2026, price 2,005 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of FNC Entertainment Co Ltd (173940)?
Balance-sheet figures for FNC Entertainment Co Ltd (as of Sep 24, 2026): return on equity −24.7%, debt of 0.14 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 173940 from its 52-week high?
FNC Entertainment Co Ltd trades at 2,005 KRW, about 60% below its 52-week high of 5,050 KRW and at the low of 2,005 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3,752 KRW is for.
Which stocks are comparable to FNC Entertainment Co Ltd?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Warner Bros. Discovery, Inc, Live Nation Entertainment, 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 FNC Entertainment Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 2,005 KRW, calculated fair value 3,752 KRW (+87%), Quality Score 41/100, from 2 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 173940 calculated?
We run FNC Entertainment Co Ltd through 2 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 3,752 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. FNC Entertainment Co Ltd currently trades 87 % 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 FNC Entertainment Co Ltd (173940)?
The closing price on Sep 23, 2026 was 2,005 KRW. Our model-based fair value is 3,752 KRW, about +87% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FNC Entertainment Co Ltd right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (2,807 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.

Key figures of FNC Entertainment Co Ltd

How large is the market capitalisation of FNC Entertainment Co Ltd (173940)?
The market capitalisation of FNC Entertainment Co Ltd is 29.9B KRW (≈ $22.0M). 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 FNC Entertainment Co Ltd (173940)?
The price-to-sales ratio of FNC Entertainment Co Ltd is 0.27 (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 FNC Entertainment Co Ltd (173940)?
The net margin of FNC Entertainment Co Ltd is −11.5% (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 FNC Entertainment Co Ltd (173940)?
The return on equity (ROE) of FNC Entertainment Co Ltd is −24.7% (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 FNC Entertainment Co Ltd (173940)?
On an EBIT basis the return on assets of FNC Entertainment Co Ltd is −6.2% (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 FNC Entertainment Co Ltd (173940)?
The operating margin of FNC Entertainment Co Ltd is 3.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FNC Entertainment Co Ltd (173940)?
Revenue at FNC Entertainment Co Ltd is growing +140% versus a year earlier (3y avg +15.9%). 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 FNC Entertainment Co Ltd (173940) generate?
The free cash flow of FNC Entertainment Co Ltd is −18.8B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does FNC Entertainment Co Ltd (173940) carry?
The net debt of FNC Entertainment Co Ltd is 394M KRW (fiscal year 2021). 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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