KB SPAC 6 (208640) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of KB SPAC 6 KRW 144, price KRW 696, upside -79.3%, quality 45 out of 100. 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, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range 650.00 KRW – 40,058 KRW · fair‑value band 95.34 KRW – 180.56 KRW · the 696.00 KRW price screens above the 144.45 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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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.
Stock analysis
KB SPAC 6 (208640) currently trades at 696.00 KRW, while our model-based Fair Value estimate is 144.45 KRW, 79.3% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: 95.34 KRW (bear) to 180.56 KRW (bull), the price of 696.00 KRW sits above 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 45/100 (below-average quality), in the Communication Services sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
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.
Key figures
Market cap 9.7B KRW (≈ $7.2M) · P/S ratio 2.25 · Net margin −159% · Return on equity −48.3% · Return on assets (EBIT) −25.4% · Operating margin −119% · Revenue (TTM) 4.3B KRW · Revenue growth (YoY) −43.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 81% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 44% fair-value upside, at −79%, 208640 screens richer than that median.
Fair Value models
Bear 95.34 KRWFair Value 144.45 KRWBull 180.56 KRW
Price 696.00 KRW · Upside -79.3%
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. 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.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.
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.0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−56.9%
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.
−21.7%
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.
−3.0%
Start year 2020 (pandemic). Over 10 years: −4.5% a year
Revenue growth 10 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.
−4.5%
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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.
−176.9% (2020) → −130.9% (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
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 · 139 stocks
Beats the industry median on 0/6 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside−79.2% · Bottom 25%
Profitability
Return on assets−18.5% · Bottom 25%
Net margin (TTM)−158.7% · Bottom 25%
Operating margin (TTM)−118.6% · Bottom 25%
Growth and dividend
Revenue growth−43.1% · Bottom 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 47
FUTURE (revenue growth)0· sector 24
PAST (return on equity)0· sector 20
HEALTH (low debt)100· sector 100
DIVIDEND (yield)0· sector 57
VALUE 0: the price sits above our fair-value range.
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.
As of Oct 3, 2026, our model estimates a fair value of 144.45 KRW versus a price of 696.00 KRW, about −79% upside (overvalued).
What is the fair value of 208640?
Our model-based fair value for KB SPAC 6 is 144.45 KRW (as of Oct 3, 2026), built from audited fundamentals. The current price: 696.00 KRW.
What is the quality score of 208640?
KB SPAC 6 has a Quality Score of 45/100. 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 KB SPAC 6 (208640)?
Our model-based price target is the fair value of 144.45 KRW (as of Oct 3, 2026) from 1 valuation models. Cautious scenario 95.34 KRW, optimistic scenario 180.56 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the KB SPAC 6 stock forecast for 2026?
Our models put fair value at 144.45 KRW, about −79% upside versus a price of 696.00 KRW (overvalued). Cautious scenario 95.34 KRW, optimistic scenario 180.56 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of KB SPAC 6 (208640)?
KB SPAC 6 reported trailing-twelve-month revenue of about 4.3B KRW (latest available figure, as of Oct 3, 2026).
What is the intrinsic value of KB SPAC 6 (208640)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KB SPAC 6 it is 144.45 KRW per share (as of Oct 3, 2026), against a price of 696.00 KRW. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is KB SPAC 6 stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 208640 trades above its calculated fair value: price 696.00 KRW, fair value 144.45 KRW, a gap of about −79% (overvalued). 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 208640?
No. The price is what the market pays today (696.00 KRW); the fair value is what the company's own numbers justify (144.45 KRW). For KB SPAC 6 the two are 551.55 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is KB SPAC 6 worth?
The market values KB SPAC 6 at about 9.7B KRW (market capitalisation, as of Oct 3, 2026). Per share that is 696.00 KRW; our models calculate a fair value of 144.45 KRW per share.
What do the bullish and bearish scenarios say about 208640?
Our models span a range for KB SPAC 6: cautious scenario 95.34 KRW, base 144.45 KRW, optimistic 180.56 KRW per share (as of Oct 3, 2026, price 696.00 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of KB SPAC 6 (208640)?
Balance-sheet figures for KB SPAC 6 (as of Oct 3, 2026): return on equity −48.3%. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 208640 from its 52-week high?
KB SPAC 6 trades at 696.00 KRW, about 81% below its 52-week high of 3,753 KRW and 7% above the low of 650.00 KRW (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 144.45 KRW is for.
Which stocks are comparable to KB SPAC 6?
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 KB SPAC 6 stock attractive at the current price?
The data as of Oct 3, 2026: price 696.00 KRW, calculated fair value 144.45 KRW (−79%), Quality Score 45/100, from 1 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 208640 calculated?
We run KB SPAC 6 through 1 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 144.45 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 15.0 % above its aggregate fair value. KB SPAC 6 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 KB SPAC 6 (208640)?
The closing price on Oct 2, 2026 was 696.00 KRW. Our model-based fair value is 144.45 KRW, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KB SPAC 6 right now?
The price sits above even our optimistic bull case (180.56 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 (45/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (95.34 KRW to 180.56 KRW) leaves room in how you read the outcome.
Key figures of KB SPAC 6
How large is the market capitalisation of KB SPAC 6 (208640)?
The market capitalisation of KB SPAC 6 is 9.7B KRW (≈ $7.2M). 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 KB SPAC 6 (208640)?
The price-to-sales ratio of KB SPAC 6 is 2.25 (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 KB SPAC 6 (208640)?
The net margin of KB SPAC 6 is −159% (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 KB SPAC 6 (208640)?
The return on equity (ROE) of KB SPAC 6 is −48.3% (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 KB SPAC 6 (208640)?
On an EBIT basis the return on assets of KB SPAC 6 is −25.4% (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 KB SPAC 6 (208640)?
The operating margin of KB SPAC 6 is −119% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KB SPAC 6 (208640)?
Revenue at KB SPAC 6 is growing −43.1% versus a year earlier (3y avg −21.7%). 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 KB SPAC 6 (208640) generate?
The free cash flow of KB SPAC 6 is −6.7B 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 KB SPAC 6 (208640) carry?
The net debt of KB SPAC 6 is 8.5B KRW (fiscal year 2023). 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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