KB SPAC 6 (208640) Fair Value & Analysis
Communication Services · KR · Market cap 11.6B KRW
Risks
Fair value as of: Aug 13, 2026
From 1 valuation models · updated 7 days ago
Share price −39.0% over the past month.
Below-average quality, and screening another 82% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (157.19 KRW). The favourable scenario is already priced in.
- 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 but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (83.00 KRW to 157.19 KRW) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range 653.00 KRW – 40,058 KRW · fair‑value band 83.00 KRW – 157.19 KRW · the 692.00 KRW price screens above the 125.75 KRW fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
KB SPAC 6 (208640) currently trades at 692.00 KRW, while our model-based Fair Value estimate is 125.75 KRW, implying the stock looks roughly 81.8% overvalued today. The Quality Score stands at 46/100 (below-average 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: low).
Trailing-twelve-month revenue stands at 5.1B KRW. Revenue declined 48.5% year over year. It earns a return on equity of -50.5%. Net debt stands at 8.5B KRW. Fundamentals as of Aug 13, 2026
Our scenario range runs from 83.00 KRW (bear case) to 157.19 KRW (bull case); at 692.00 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 15% below its 52-week high. For context, the median of 10 Communication Services peers we cover trades at -25% fair-value upside, at -82%, 208640 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.
All 1 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 45 · Market factors (momentum, volatility) 15
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
Thumbage Co., Ltd. develops and sells online and mobile games in South Korea. Thumbage Co., Ltd. was founded in 2013 and is headquartered in Seongnam-si, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
KB SPAC 6 reported revenue of 6.0B KRW in FY2025 versus 36.2B KRW in FY2021, a compound −36.2%/yr. Reported net income was −9.3B KRW in FY2025.
208640 screens 82% overvalued. Compare with NetEase, Inc →
Peer Group
Electronic Gaming & Multimedia · 156 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.
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: 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.
Similar stocks
10 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NetEase, Inc 9999 | HK$192.50 | HK$262.75 | +36% |
| Electronic Arts Inc EA | $209.70 | $76.57 | -63% |
| Take-Two Interactive Software, Inc TTWO | $243.00 | $60.20 | -75% |
| Roblox Corporation RBLX | $37.67 | $21.20 | -44% |
| Zhejiang Century Huatong Group 002602 | ¥13.90 | ¥14.68 | +6% |
| KRAFTON, Inc 259960 | 234,500 KRW | 356,218 KRW | +52% |
| Giant Network Group 002558 | ¥28.57 | ¥15.50 | -46% |
| International Games System Co 3293 | 762.00 TWD | 568.16 TWD | -25% |
| 37 Interactive Entertainment Network Technology Group 002555 | ¥19.21 | ¥22.29 | +16% |
| Kingnet Network Co 002517 | ¥17.36 | ¥12.86 | -26% |
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Frequently asked questions
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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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