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Netmarble Corporation (251270) Fair Value & Analysis

Communication Services · KR · Market cap 2.9T KRW

NC Netmarble Corporation 251270 · KO
Price40,900 KRW
Fair Value58,727 KRW
Upside+43.6%
Quality61/100
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Mixed Growth
Solidly profitable · 12.5% net margin
Low debt · generates free cash flow
2.51% dividend yield
Ranks above peers (9/10)
Narrow moat 43/100
Evidence: High Range 41,519 KRW – 75,529 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price +5.4% over the past month.

A solid business, screening 44% undervalued on our models.

What matters now

  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (41,519 KRW to 75,529 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

142,005 KRW 34,900 KRW Fair Value 58,727 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 34,900 KRW – 142,005 KRW · fair‑value band 41,519 KRW – 75,529 KRW · the 40,900 KRW price screens below the 58,727 KRW fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Netmarble Corporation (251270) currently trades at 40,900 KRW, while our model-based Fair Value estimate is 58,727 KRW, implying the stock looks roughly 43.6% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Netmarble Corporation generated revenue of 2.9T KRW at a net margin of 12.5%. Revenue grew 4.5% year over year. It earns a return on equity of 6.4%. Net debt stands at 828B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 41,519 KRW (bear case) to 75,529 KRW (bull case); at 40,900 KRW, the current price sits below 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 40% 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 44%, 251270 screens cheaper 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 BearBaseBull Evidence
Highest evidence
Growth DCF 44,438 KRW 64,644 KRW 94,764 KRW 80
Residual Income 50,378 KRW 50,351 KRW 46,675 KRW 76
Rev-Margin DCF 41,981 KRW 64,515 KRW 90,003 KRW 74
All 24 models by family
DCF Models
FCF DCF 43,489 KRW 65,889 KRW 101,233 KRW 38
Owner Earnings 46,184 KRW 70,113 KRW 107,868 KRW 31
5Y Revenue Exit 41,981 KRW 64,428 KRW 92,822 KRW 39
5Y EBITDA Exit 48,575 KRW 76,625 KRW 108,996 KRW 41
5Y P/E Exit 43,964 KRW 68,096 KRW 93,058 KRW 38
10Y Revenue Exit 40,930 KRW 61,779 KRW 89,241 KRW 36
10Y EBITDA Exit 46,442 KRW 70,390 KRW 101,742 KRW 37
10Y P/E Exit 43,448 KRW 64,368 KRW 89,424 KRW 35
Earnings-Based
Graham-Dodd 18,676 KRW 54,783 KRW 72,417 KRW 54
Lynch FV 11,439 KRW 16,342 KRW 21,244 KRW 50
PEG = 1.0 11,439 KRW 16,342 KRW 21,244 KRW 46
EPV 34,543 KRW 39,937 KRW 44,733 KRW 59
Multiples
P/E Multiple 45,317 KRW 60,423 KRW 75,529 KRW 63
P/S Multiple 35,018 KRW 46,690 KRW 58,363 KRW 58
P/B Multiple 35,018 KRW 46,690 KRW 58,363 KRW 55
EV/EBIT 55,595 KRW 72,803 KRW 90,011 KRW 53
EV/EBITDA 57,132 KRW 74,852 KRW 92,572 KRW 54
EV/Revenue 43,120 KRW 59,897 KRW 76,675 KRW 43
Asset-Based
NCAV (Graham) 33,134 KRW 44,400 KRW 66,269 KRW 50
Growth DCF
Growth DCF 44,438 KRW 64,644 KRW 94,764 KRW 80
Rev-Margin DCF 41,981 KRW 64,515 KRW 90,003 KRW 74
Economic Profit
Residual Income 50,378 KRW 50,351 KRW 46,675 KRW 76
ROIC Compounder 34,543 KRW 39,937 KRW 44,733 KRW 72
Growth Earnings
Growth-Adj P/E 36,562 KRW 52,232 KRW 67,901 KRW 68

Widest divergence: DCF Models (65,889 KRW) versus Earnings-Based (16,342 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.9T KRW
Revenue growth (YoY) +4.5%
Net margin 12.5%
Return on equity 6.4%
Free cash flow 274B KRW FY2025
Operating margin 8.0%
More key figures
Dividend yield 2.0%
EPS growth (YoY) +189%
Net debt 828B KRW FY2025

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 58 · Market factors (momentum, volatility) 24

Profitability 36
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 82
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

Netmarble Corporation develops and publishes PC, mobile, and console games in South Korea and internationally. The company was founded in 2000 and is based in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Netmarble Corporation reported revenue of 2.8T KRW in FY2025 versus 2.5T KRW in FY2021, a compound +3.1%/yr. Reported net income was 225B KRW in FY2025, compounding −1.6%/yr from FY2021.

Growth Quality 59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.8T KRW
Latest YoY
+6.4%
Avg. growth/yr (3Y)
+2.0%
Avg. growth/yr (5Y)
+2.7%
Avg. growth/yr (14Y)
+34.4%
Revenue +3.1%/yr
FY21 2.5T KRW
FY22 2.7T KRW
FY23 2.5T KRW
FY24 2.7T KRW
FY25 2.8T KRW
Net income −1.6%/yr
FY21 240B KRW
FY22 −819B KRW
FY23 −256B KRW
FY24 25.6B KRW
FY25 225B KRW

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Cite: Fair Value Calculator (2026). "Netmarble Corporation Fair Value". https://www.fairvalue-calculator.com/stock/251270

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 61 · Above median
Fair Value upside +44% · Above median
Return on equity (TTM) 6% · Above median
Return on assets 3% · Above median
Net margin (TTM) 13% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 5% · Above median
Dividend yield (TTM) 2.5% · Above median
Debt / equity 0.07× · 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 91 · sector 17
FUTURE 23 · sector 10
PAST 26 · sector 11
HEALTH 97 · sector 99
DIVIDEND 50 · sector 41

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 Netmarble Corporation (251270) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 58,727 KRW versus a price of 40,900 KRW, about +44% (undervalued).
What is the fair value of 251270?
Our model-based fair value for Netmarble Corporation is 58,727 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 40,900 KRW.
What is the quality score of 251270?
Netmarble Corporation has a Quality Score of 61/100. 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 Netmarble Corporation (251270)?
Netmarble Corporation reported trailing-twelve-month revenue of about 2.9T KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 251270?
The net profit margin of Netmarble Corporation is about 12.5%, meaning it keeps roughly 12.5% of revenue as net income. Based on the latest reported figures.
Does Netmarble Corporation pay a dividend?
Netmarble Corporation currently shows a dividend yield of about 2.03% relative to its recent price (as of Jul 22, 2026).

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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