Nhn Entertain (181710) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Nhn Entertain stock KRW 56,320, price KRW 59,200, that is 4.9% below the price, quality 66 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range 15,078 KRW – 75,200 KRW · fair‑value band 54,698 KRW – 60,754 KRW · the 59,200 KRW price screens above the 56,320 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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NHN Corporation, an IT company, provides gaming, payment, entertainment, IT, and advertisement solutions in South Korea and internationally.
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It offers PAYCO, a payment service for online and offline stores; comico, a Webtoon platform; Bugs, a music portal operating music streaming and online music distribution business; and NHN KCP, an integrated e-payment service.
The company also provides Ticketlink, a concert, culture, and sports ticket booking service; comico webtoon, an internet webtoon studio; Doctortour, a travel service that offers various travel packages; Dighty, AI-based data solution and services; Dighty Data Market, a data hub that sells web and app data product and data-based insight contents; ACE Counter, a real-time web and app integrated log analysis service; and Audiens, a customer data platform.
In addition, it offers ACE Trader, a data-based performance AD platform; ACE eXchange, a digital market place; ADLIB, an advertising network platform to optimize the profit of application developers; NHN Cloud, an integrated cloud service; NHN Dooray!, an integrated business communication platform; NHN Game platform; and NHN Cloud Center, as well as Shop by, an online shopping mall solution, TOAST Cam, a smart cloud IP camera; OPEN Ads, a marketing data curation service; I am School, an education management platform; and Pink Diary, a female health care app for Korean society of obstetricians and gynecologists developed based on consultation by doctors.
Further, the company offers games including Crusaders Quest, Friends POP, Compass, Hangame, Hangame Baduk and Omok, Hangame Janggi, Hangame Shin Matgo, Hangame Sutda&Matgo, Hangame Poker Classic, Hangame Poker, Hangame Double A Poker, and GUNS UP! Mobile.
The company was formerly known as NHN Entertainment Corp. and changed its name to NHN Corporation in April 2019. NHN Corporation was incorporated in 2013 and is based in Seongnam-si, South Korea.
Stock analysis
Nhn Entertain (181710) currently trades at 59,200 KRW, while our model-based Fair Value estimate is 56,320 KRW, so the stock looks roughly fairly valued today (gap 5.1%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of 107,069 KRW per share, and 13 of the 26 models we run sit above the 59,200 KRW price.
Bear case: the Asset-Based group reads lowest at 14,589 KRW, and 13 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 54,698 KRW (bear) to 60,754 KRW (bull), the price of 59,200 KRW sits inside 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 66/100 (solid quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Nhn Entertain reported revenue of 2.5T KRW in FY2025 versus 1.9T KRW in FY2021, a compound +6.9%/yr. Reported net income was 32.1B KRW in FY2025, compounding −27.6%/yr from FY2021.
Key figures
Market cap 1.8T KRW (≈ $1.4B) Small · P/E ratio 21.5 · P/S ratio 0.68 · EPS (TTM) 2,314 KRW · Dividend yield 0.8% · Net margin 2.6% · Return on equity 5.7% · Return on assets (EBIT) 1.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 111% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 50% fair-value upside, at −5%, 181710 screens richer than that median.
Fair Value models
Bear54,698 KRWFair Value 56,320 KRWBull60,754 KRW
Price 59,200 KRW · Downside -4.9%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1,556 KRW per share) are deliberately not added.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.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.4%
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.
+6.0%
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.
+8.5%
Start year 2020 (pandemic). Over 10 years: +14.6% a year
Revenue growth 12 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.
+20.6%
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What shareholders gained per year (last 5 years), in KRW ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−1.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.3%
Dividend (yield on the price)0.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−2.3% vs 4.7%, slowing
Profit margin 2020 to 2025 ⓘ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.6% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−33.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+9.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −34.4% a year for the price and +7.7% for the forecasts.
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.Electronic Gaming & Multimedia · 164 stocks
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). "Nhn Entertain Fair Value". https://www.fairvalue-calculator.com/stock/181710
Frequently asked questions
Is Nhn Entertain (181710) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 56,320 KRW versus a price of 59,200 KRW, about 5% lower (fairly valued).
What is the fair value of 181710?
Our model-based fair value for Nhn Entertain is 56,320 KRW (as of Nov 6, 2026), built from audited fundamentals. The current price: 59,200 KRW.
What is the quality score of 181710?
Nhn Entertain has a Quality Score of 66/100. 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 Nhn Entertain (181710)?
Our model-based price target is the fair value of 56,320 KRW (as of Nov 6, 2026) from 26 valuation models. Cautious scenario 54,698 KRW, optimistic scenario 60,754 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Nhn Entertain stock forecast for 2026?
Our models put fair value at 56,320 KRW, about 5% lower versus a price of 59,200 KRW (fairly valued). Cautious scenario 54,698 KRW, optimistic scenario 60,754 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Nhn Entertain (181710)?
Nhn Entertain reported trailing-twelve-month revenue of about 2.7T KRW (latest available figure, as of Nov 6, 2026).
Does Nhn Entertain pay a dividend?
Nhn Entertain currently shows a dividend yield of 0.84% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Nhn Entertain (181710) and when is the ex-dividend date?
Nhn Entertain pays a dividend of 500.00 KRW per share a year, a dividend yield of 0.8%. The last ex-dividend date was Mar 30, 2026. The payout ratio is 21.6% of earnings. Free cash flow covers the dividend 18.91 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Nhn Entertain (181710)?
For today's price to be fair in a discounted-cash-flow model, Nhn Entertain would have to grow free cash flow by -33.0 % per year for five years (discount rate 11.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.5 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 181710 use?
Our models discount Nhn Entertain at 11.5 %: a base by market capitalisation (small), damped by beta 0.95, 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 Nhn Entertain that is -33.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.5 %) and the same formula as our fair value.
How much growth has Nhn Entertain (181710) delivered so far?
Over the past 5 years revenue at Nhn Entertain grew +8.5 % a year. The price currently implies free-cash-flow growth of -33.0 % per 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 Nhn Entertain (181710) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into Nhn Entertain (-33.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nhn Entertain (181710)?
The free-cash-flow yield on the price is 15.54 %: that much free cash flow Nhn Entertain produces per unit of market value. When it exceeds the discount rate of our models (11.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nhn Entertain (181710)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nhn Entertain it is 56,320 KRW per share (as of Nov 6, 2026), against a price of 59,200 KRW. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Nhn Entertain stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 181710 trades above its calculated fair value: price 59,200 KRW, fair value 56,320 KRW, a gap of about −5% (fairly valued). 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 181710?
No. The price is what the market pays today (59,200 KRW); the fair value is what the company's own numbers justify (56,320 KRW). For Nhn Entertain the two are 2,880 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Nhn Entertain worth?
The market values Nhn Entertain at about 1.8T KRW (market capitalisation, as of Nov 6, 2026). Per share that is 59,200 KRW; our models calculate a fair value of 56,320 KRW per share.
What do the bullish and bearish scenarios say about 181710?
Our models span a range for Nhn Entertain: cautious scenario 54,698 KRW, base 56,320 KRW, optimistic 60,754 KRW per share (as of Nov 6, 2026, price 59,200 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 181710?
Nhn Entertain trades at a price-to-earnings ratio of 21.5 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 56,320 KRW is built from several models across several years. Other multiples: P/B 1.3, P/S 0.7, EV/EBITDA 1.6.
How solid is the balance sheet of Nhn Entertain (181710)?
Balance-sheet figures for Nhn Entertain (as of Nov 6, 2026): return on equity 5.7%, debt of 0.11 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 181710 from its 52-week high?
Nhn Entertain trades at 59,200 KRW, about 21% below its 52-week high of 75,200 KRW and 111% above the low of 28,110 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 56,320 KRW is for.
Which stocks are comparable to Nhn Entertain?
From the same area (Communication Services) we also value NetEase, Inc, Take-Two Interactive Software, Inc, Roblox Corporation, Zhejiang Century Huatong Group, 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 Nhn Entertain stock attractive at the current price?
The data as of Nov 6, 2026: price 59,200 KRW, calculated fair value 56,320 KRW (−5%), Quality Score 66/100, from 26 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 181710 calculated?
We run Nhn Entertain through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 56,320 KRW builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Nhn Entertain 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 Nhn Entertain (181710)?
The closing price on Nov 6, 2026 was 59,200 KRW. Our model-based fair value is 56,320 KRW, about 5% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nhn Entertain right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The models converge in a tight band (54,698 KRW to 60,754 KRW), unusually little disagreement for a valuation.
Key figures of Nhn Entertain
How large is the market capitalisation of Nhn Entertain (181710)?
The market capitalisation of Nhn Entertain is 1.8T KRW (≈ $1.4B). 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 Nhn Entertain (181710)?
The price-to-sales ratio of Nhn Entertain is 0.68 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nhn Entertain (181710)?
Earnings per share at Nhn Entertain are 2,314 KRW (price ÷ EPS = P/E 21.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nhn Entertain (181710)?
The dividend yield of Nhn Entertain is 0.8% (payout 21.6%). 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 Nhn Entertain (181710)?
The net margin of Nhn Entertain is 2.6% (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 Nhn Entertain (181710)?
The return on equity (ROE) of Nhn Entertain is 5.7% (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 Nhn Entertain (181710)?
On an EBIT basis the return on assets of Nhn Entertain is 1.7% (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 Nhn Entertain (181710)?
The operating margin of Nhn Entertain is 7.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nhn Entertain (181710)?
Revenue at Nhn Entertain is growing +25.3% versus a year earlier (3y avg +6.0%). 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 Nhn Entertain (181710)?
Earnings per share at Nhn Entertain are growing +127% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 6, 2026