Kakao Games Corp (293490) Fair Value & Analysis
Communication Services · KR · Market cap 814B KRW
Risks
Fair value as of: Jul 21, 2026
From 2 valuation models · updated 31 days ago
Fair value updated Jul 21, 2026, revised from 8,921 KRW to 7,457 KRW (−16.4%) since Jul 7, 2026. Share price +14.2% over the past month.
Below-average quality, and screening another 12% overvalued on our models.
What matters now
- A fairly wide model range (5,565 KRW to 11,130 KRW) leaves room in how you read the outcome.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.
How to read this chart
60‑month range 6,930 KRW – 108,700 KRW · fair‑value band 5,565 KRW – 11,130 KRW · the 8,510 KRW price screens above the 7,457 KRW fair value. Dashed = 300-day average. As of Jul 21, 2026.
Analysis
Kakao Games Corp (293490) currently trades at 8,510 KRW, while our model-based Fair Value estimate is 7,457 KRW, implying the stock looks roughly 12.4% overvalued today. The Quality Score stands at 40/100 (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).
Over the trailing twelve months, Kakao Games Corp generated revenue of 425B KRW at a net margin of -25.2%. Revenue declined 32.5% year over year. It earns a return on equity of -11.6%. Net debt stands at 443B KRW. Fundamentals as of Jul 21, 2026
Our scenario range runs from 5,565 KRW (bear case) to 11,130 KRW (bull case); at 8,510 KRW, the current price sits within 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 64% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -25% fair-value upside, at -12%, 293490 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.
All 2 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 24
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
Kakao Games Corp. operates a mobile and PC online game service platform for gamers worldwide. The company develops and publishes various genres of games, including PC, mobile, and VR platforms.
Full company description
Kakao Games Corp. operates a mobile and PC online game service platform for gamers worldwide. The company develops and publishes various genres of games, including PC, mobile, and VR platforms. It provides mobile game services, such as kakao and snack game, mobile game play channel, play by star, and Cacao game shop; and PC online game services comprising PC/online game portal and Cacao games PC room. The company was incorporated in 2013 and is based in Seongnam-si, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Kakao Games Corp reported revenue of 465B KRW in FY2025 versus 1.0T KRW in FY2021, a compound −17.7%/yr. Reported net income was −100B KRW in FY2025.
293490 screens 12% 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.
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 Jul 21, 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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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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