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Devsisters corporation (194480) Fair Value & Analysis

Communication Services · KR · Market cap 176B KRW

DC Devsisters corporation 194480 · KQ
Price22,450 KRW
Fair Value16,268 KRW
Upside-27.5%
Quality55/100
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Mixed Growth
Loss-making · -5.5% net margin
Low debt · generates free cash flow
Trails peers (1/9)
Narrow moat 15/100
Evidence: High Range 12,057 KRW – 20,335 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price +25.4% over the past month.

A solid business, but screening 28% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (20,335 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

184,635 KRW 13,150 KRW Fair Value 16,268 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 13,150 KRW – 184,635 KRW · fair‑value band 12,057 KRW – 20,335 KRW · the 22,450 KRW price screens above the 16,268 KRW fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Devsisters corporation (194480) currently trades at 22,450 KRW, while our model-based Fair Value estimate is 16,268 KRW, implying the stock looks roughly 27.5% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Communication Services 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: high).

Over the trailing twelve months, Devsisters corporation generated revenue of 265B KRW at a net margin of -5.5%. Revenue declined 34.4% year over year. It earns a return on equity of -8.7%. Net debt stands at 24.9B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 12,057 KRW (bear case) to 20,335 KRW (bull case); at 22,450 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 61% below its 52-week high and 66% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -19% fair-value upside, at -28%, 194480 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.

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
Highest evidence
Growth DCF 4,124 KRW 10,424 KRW 20,748 KRW 80
Residual Income 12,057 KRW 12,514 KRW 12,910 KRW 76
Rev-Margin DCF 4,504 KRW 10,097 KRW 21,782 KRW 74
All 24 models by family
DCF Models
FCF DCF 4,528 KRW 8,429 KRW 20,851 KRW 38
Owner Earnings 21,379 KRW 51,551 KRW 114,890 KRW 31
5Y Revenue Exit 3,853 KRW 8,544 KRW 18,380 KRW 39
5Y EBITDA Exit 9,662 KRW 20,291 KRW 41,189 KRW 41
5Y P/E Exit 11,513 KRW 30,917 KRW 57,770 KRW 38
10Y Revenue Exit 3,924 KRW 11,824 KRW 17,002 KRW 36
10Y EBITDA Exit 8,402 KRW 24,333 KRW 53,017 KRW 37
10Y P/E Exit 9,753 KRW 28,319 KRW 59,790 KRW 35
Earnings-Based
Graham-Dodd 6,507 KRW 45,379 KRW 63,683 KRW 54
Lynch FV 23,445 KRW 33,492 KRW 43,540 KRW 50
PEG = 1.0 23,445 KRW 33,492 KRW 43,540 KRW 46
EPV 2,691 KRW 3,518 KRW 4,242 KRW 59
Multiples
P/E Multiple 15,789 KRW 21,052 KRW 26,315 KRW 63
P/S Multiple 12,201 KRW 16,268 KRW 20,335 KRW 58
P/B Multiple 12,201 KRW 16,268 KRW 20,335 KRW 55
EV/EBIT 4,677 KRW 6,993 KRW 9,310 KRW 53
EV/EBITDA 11,065 KRW 15,511 KRW 19,957 KRW 54
EV/Revenue 2,997 KRW 5,256 KRW 7,515 KRW 43
Asset-Based
NCAV (Graham) 7,580 KRW 10,158 KRW 15,161 KRW 50
Growth DCF
Growth DCF 4,124 KRW 10,424 KRW 20,748 KRW 80
Rev-Margin DCF 4,504 KRW 10,097 KRW 21,782 KRW 74
Economic Profit
Residual Income 12,057 KRW 12,514 KRW 12,910 KRW 76
ROIC Compounder 2,691 KRW 3,518 KRW 4,242 KRW 72
Growth Earnings
Growth-Adj P/E 31,121 KRW 44,459 KRW 57,796 KRW 68

Widest divergence: Growth Earnings (44,459 KRW) versus Economic Profit (3,518 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 265B KRW
Revenue growth (YoY) -34.4%
Net margin -5.5%
Return on equity -8.7%
Free cash flow 4.4B KRW FY2025
Operating margin -29.7%
More key figures
EPS growth (YoY) -88.9%
Net debt 24.9B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 55 · Market factors (momentum, volatility) 25

Profitability 53
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 68
Buybacks instead of dilution

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

Devsisters corporation engages in the development of mobile games in South Korea and internationally. The company offers virtual reality, mobile, PC, arcade games and console gaming services. Devsisters corporation was founded in 2007 and is headquartered in Seoul, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Devsisters corporation reported revenue of 296B KRW in FY2025 versus 369B KRW in FY2021, a compound −5.4%/yr. Reported net income was 10.5B KRW in FY2025, compounding −35.4%/yr from FY2021.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
296B KRW
Latest YoY
+25.1%
Avg. growth/yr (3Y) 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.
+11.3%
Avg. growth/yr (5Y) 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.
+33.2%
Avg. growth/yr (11Y) 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.
+14.1%
Revenue −5.4%/yr
FY21 369B KRW
FY22 214B KRW
FY23 161B KRW
FY24 236B KRW
FY25 296B KRW
Net income −35.4%/yr
FY21 60.4B KRW
FY22 −6.7B KRW
FY23 −49.6B KRW
FY24 28.0B KRW
FY25 10.5B KRW

194480 screens 28% overvalued. Compare with NetEase, Inc →

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Cite: Fair Value Calculator (2026). "Devsisters corporation Fair Value". https://www.fairvalue-calculator.com/stock/194480

Peer Group

Electronic Gaming & Multimedia · 152 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.

Quality Score 55 · Below median
Fair Value upside −28% · Below median
Return on assets -5% · Bottom 25%
Net margin (TTM) -5% · Below median
Operating margin (TTM) -30% · Bottom 25%
Revenue growth -34% · Bottom 25%
Debt / equity 0.22× · Higher than 75% of peers

Valuation Multiples vs Electronic Gaming & Multimedia median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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 · sector 15
FUTURE 0 · sector 10
PAST 0 · sector 11
HEALTH 89 · sector 99
DIVIDEND 0 · sector 41

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
NetEase, Inc 9999 HK$202.60 HK$192.74 -5%
Electronic Arts Inc EA $207.27 $76.57 -63%
Take-Two Interactive Software, Inc TTWO $237.04 $60.45 -74%
Roblox Corporation RBLX $57.07 $21.20 -63%
Zhejiang Century Huatong Group 002602 ¥14.04 ¥14.68 +5%
KRAFTON, Inc 259960 240,500 KRW 395,557 KRW +64%
Kunlun Tech Co 300418 ¥44.61 ¥6.87 -85%
Giant Network Group 002558 ¥29.98 ¥15.69 -48%
International Games System Co 3293 704.00 TWD 568.16 TWD -19%
37 Interactive Entertainment Network Technology Group 002555 ¥19.02 ¥22.29 +17%

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Frequently asked questions

Is Devsisters corporation (194480) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 16,268 KRW versus a price of 22,450 KRW, about −28% (overvalued).
What is the fair value of 194480?
Our model-based fair value for Devsisters corporation is 16,268 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 22,450 KRW.
What is the quality score of 194480?
Devsisters corporation has a Quality Score of 55/100. 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 revenue of Devsisters corporation (194480)?
Devsisters corporation reported trailing-twelve-month revenue of about 265B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 194480?
The net profit margin of Devsisters corporation is about -5.5%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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