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Me2on Co (201490) Fair Value & Analysis

Communication Services · KR · Market cap 66.2B KRW

MC Me2on Co 201490 · KQ
Price2,245 KRW
Fair Value718.13 KRW
Upside-68.0%
Quality67/100
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Weak Growth
Thin margins · 0.2% net margin
Low debt · generates free cash flow
Mixed vs. peers (4/9)
Narrow moat 35/100
Evidence: Medium Range 390.92 KRW – 983.81 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price +9.2% over the past month.

A solid business, but screening 68% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (983.81 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (390.92 KRW to 983.81 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

8,545 KRW 1,645 KRW Fair Value 718.13 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 1,645 KRW – 8,545 KRW · fair‑value band 390.92 KRW – 983.81 KRW · the 2,245 KRW price screens above the 718.13 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Me2on Co (201490) currently trades at 2,245 KRW, while our model-based Fair Value estimate is 718.13 KRW, implying the stock looks roughly 68.0% overvalued today. The Quality Score stands at 67/100 (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: medium).

Over the trailing twelve months, Me2on Co generated revenue of 121B KRW at a net margin of 0.2%. Revenue grew 0.2% year over year. It earns a return on equity of 1.1%. Fundamentals as of Jul 22, 2026

Our scenario range runs from 390.92 KRW (bear case) to 983.81 KRW (bull case); at 2,245 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 73% below its 52-week high and 5% 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 -68%, 201490 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 7,966 KRW 13,404 KRW 22,513 KRW 80
Residual Income 3,087 KRW 2,830 KRW 1,988 KRW 76
Rev-Margin DCF 4,984 KRW 7,587 KRW 10,923 KRW 74
All 24 models by family
DCF Models
FCF DCF 7,999 KRW 13,856 KRW 23,892 KRW 38
Owner Earnings 3,042 KRW 5,041 KRW 8,466 KRW 31
5Y Revenue Exit 4,984 KRW 7,573 KRW 10,943 KRW 39
5Y EBITDA Exit 6,197 KRW 10,046 KRW 14,763 KRW 41
5Y P/E Exit 3,153 KRW 3,841 KRW 4,501 KRW 38
10Y Revenue Exit 5,839 KRW 8,619 KRW 12,610 KRW 36
10Y EBITDA Exit 6,745 KRW 10,419 KRW 15,773 KRW 37
10Y P/E Exit 4,736 KRW 5,901 KRW 7,275 KRW 35
Earnings-Based
Graham-Dodd 161.11 KRW 718.13 KRW 983.81 KRW 54
Lynch FV 186.58 KRW 266.54 KRW 346.50 KRW 50
PEG = 1.0 186.58 KRW 266.54 KRW 346.50 KRW 46
EPV 2,868 KRW 3,268 KRW 3,617 KRW 59
Multiples
P/E Multiple 390.92 KRW 521.23 KRW 651.53 KRW 63
P/S Multiple 302.07 KRW 402.77 KRW 503.46 KRW 58
P/B Multiple 302.07 KRW 402.77 KRW 503.46 KRW 55
EV/EBIT 5,697 KRW 7,439 KRW 9,180 KRW 53
EV/EBITDA 5,766 KRW 7,530 KRW 9,294 KRW 54
EV/Revenue 3,590 KRW 4,926 KRW 6,261 KRW 43
Asset-Based
NCAV (Graham) 2,294 KRW 3,074 KRW 4,588 KRW 50
Growth DCF
Growth DCF 7,966 KRW 13,404 KRW 22,513 KRW 80
Rev-Margin DCF 4,984 KRW 7,587 KRW 10,923 KRW 74
Economic Profit
Residual Income 3,087 KRW 2,830 KRW 1,988 KRW 76
ROIC Compounder 2,868 KRW 3,268 KRW 3,617 KRW 72
Growth Earnings
Growth-Adj P/E 313.11 KRW 447.31 KRW 581.50 KRW 68

Widest divergence: Growth DCF (7,587 KRW) versus Earnings-Based (266.54 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 121B KRW
Revenue growth (YoY) +0.2%
Net margin 0.2%
Return on equity 1.1%
Free cash flow 19.3B KRW FY2025
Operating margin 16.9%
More key figures
EPS growth (YoY) -27.8%

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

Quality Score breakdown

Overall quality 67/100

Of which business quality 67 · Market factors (momentum, volatility) 11

Profitability 22
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 28
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 86
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

Me2on Co., Ltd. operates as a social casino game development company in South Korea and internationally. The company develops, operates, and sells online social casino games based on the social network service. It offers mobile and PC games. The company was incorporated in 2010 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

Me2on Co reported revenue of 121B KRW in FY2025 versus 110B KRW in FY2021, a compound +2.5%/yr. Reported net income was 772M KRW in FY2025, compounding −46.1%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
121B KRW
Latest YoY
+28.2%
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.
+2.6%
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.
−1.5%
Avg. growth/yr (10Y) 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.
+21.8%
Revenue +2.5%/yr
FY21 110B KRW
FY22 112B KRW
FY23 109B KRW
FY24 94.3B KRW
FY25 121B KRW
Net income −46.1%/yr
FY21 9.2B KRW
FY22 8.7B KRW
FY23 7.8B KRW
FY24 551M KRW
FY25 772M KRW

201490 screens 68% overvalued. Compare with NetEase, Inc →

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Cite: Fair Value Calculator (2026). "Me2on Co Fair Value". https://www.fairvalue-calculator.com/stock/201490

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 67 · Above median
Fair Value upside −68% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 3% · Above median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 17% · Above median
Revenue growth 0% · Below median
Debt / equity 0.06× · Higher than median

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 1 · sector 10
PAST 4 · sector 11
HEALTH 97 · sector 99
DIVIDEND 0 · sector 41

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

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 Me2on Co (201490) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 718.13 KRW versus a price of 2,245 KRW, about −68% (overvalued).
What is the fair value of 201490?
Our model-based fair value for Me2on Co is 718.13 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 2,245 KRW.
What is the quality score of 201490?
Me2on Co has a Quality Score of 67/100. 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 Me2on Co (201490)?
Me2on Co reported trailing-twelve-month revenue of about 121B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 201490?
The net profit margin of Me2on Co is about 0.2%, meaning it keeps roughly 0.2% of revenue as net income. 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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