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Kakao Games Corp (293490) fair value: what the stock is really worth

We calculate from audited financials what Kakao Games Corp is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jul 21, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? No
  2. Good quality? No
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Communication Services · KR

KG Thin data Jul 21, 2026

Kakao Games Corp

293490 · KQ

Weak valuationQuality is weak on top of the rich price.

Moderate debt
Fair value 7,457 KRW · Overvalued (−26.5%)
Quality 37/100
Weak Growth (revenue 5y −1.3 %/yr in KRW)
Loss-making · -33.8% net margin (TTM)
Negative free cash flow
Trails peers (0/8)
Narrow moat 10/100
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

108,700 KRW 6,930 KRW Fair Value 7,457 KRW May 2021 Oct 2026

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 10,140 KRW price screens above the 7,457 KRW fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Company profile

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.

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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.

Stock analysis

Kakao Games Corp (293490) currently trades at 10,140 KRW, while our model-based Fair Value estimate is 7,457 KRW, 26.5% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 94/100, which puts the evidence level at low.

Scenario range: 5,565 KRW (bear) to 11,130 KRW (bull), the price of 10,140 KRW sits inside 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 37/100 (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.

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.

Key figures

Market cap 1.1T KRW (≈ $802M) · P/S ratio 2.81 · Net margin −21.5% · Return on equity −12.4% · Return on assets (EBIT) 1.5% · Operating margin −30.7% · Revenue (TTM) 384B KRW · Revenue growth (YoY) −35.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).

What moves the price

The share trades about 43% below its 52-week high and 46% 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 −26%, 293490 screens richer than that median.

Fair Value models

Bear 5,565 KRW Fair Value 7,457 KRW Bull 11,130 KRW
Price 10,140 KRW · Upside -26.5%
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.
Highest evidence
EV/EBITDA n/a n/a 280.55 KRW 62
NCAV (Graham) 5,565 KRW 7,457 KRW 11,130 KRW 54
All 2 models by family
Multiples
EV/EBITDA n/a n/a 280.55 KRW 62
Asset-Based
NCAV (Graham) 5,565 KRW 7,457 KRW 11,130 KRW 54

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Quality Score breakdown

Overall quality 37/100

Of which business quality 36 · Market factors (momentum, volatility) 34

Profitability 8
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 52
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 79
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 2/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−25.9%
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.
−26.0%
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.
−1.3%
Start year 2020 (pandemic)
Revenue growth 8 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.
+11.0%
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.
8.8% (2020) → −8.5% (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
not computed

293490 screens overvalued: fair value 26% below the price. Compare with NetEase, Inc →

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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 0/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside −26.5% · Below median
Profitability
Return on assets −1.6% · Below median
Net margin (TTM) −33.8% · Bottom 25%
Operating margin (TTM) −30.7% · Bottom 25%
Growth and dividend
Revenue growth −35.2% · Bottom 25%
Balance sheet
Debt / equity 0.55× · Highest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 49
FUTURE (revenue growth)0 · sector 24
PAST (return on equity)0 · sector 20
HEALTH (low debt)73 · sector 100
DIVIDEND (yield)0 · sector 56

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

Context: sector, industry, market

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

Similar stocks

10 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
NetEase, Inc NTES $121.82 $254.16 +109%
Take-Two Interactive Software, Inc TTWO $203.62 $75.29 −63%
Roblox Corporation RBLX $43.00 $45.24 +5%
Zhejiang Century Huatong Group 002602 ¥14.23 ¥27.63 +94%
International Games System Co 3293 761.00 TWD 1,094 TWD +44%
Giant Network Group 002558 ¥23.62 ¥31.97 +35%
KRAFTON, Inc 259960 198,000 KRW 410,472 KRW +107%
CD Projekt S.A CDR 253.50 PLN 275.58 PLN +9%
37 Interactive Entertainment Network Technology Group 002555 ¥17.38 ¥39.02 +125%
Kingnet Network Co 002517 ¥16.17 ¥22.00 +36%

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Kakao Games Corp · Fair Value
7,457 KRW −26%Fair Value
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Cite: Fair Value Calculator (2026). "Kakao Games Corp Fair Value". https://www.fairvalue-calculator.com/stock/293490

Frequently asked questions

Is Kakao Games Corp (293490) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 7,457 KRW versus a price of 10,140 KRW, about −26% upside (overvalued).
What is the fair value of 293490?
Our model-based fair value for Kakao Games Corp is 7,457 KRW (as of Jul 21, 2026), built from audited fundamentals. The current price: 10,140 KRW.
What is the quality score of 293490?
Kakao Games Corp has a Quality Score of 37/100. 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 Kakao Games Corp (293490)?
Our model-based price target is the fair value of 7,457 KRW (as of Jul 21, 2026) from 2 valuation models. Cautious scenario 5,565 KRW, optimistic scenario 11,130 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Kakao Games Corp stock forecast for 2026?
Our models put fair value at 7,457 KRW, about −26% upside versus a price of 10,140 KRW (overvalued). Cautious scenario 5,565 KRW, optimistic scenario 11,130 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Kakao Games Corp (293490)?
Kakao Games Corp reported trailing-twelve-month revenue of about 384B KRW (latest available figure, as of Jul 21, 2026).
What is the intrinsic value of Kakao Games Corp (293490)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kakao Games Corp it is 7,457 KRW per share (as of Jul 21, 2026), against a price of 10,140 KRW. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Kakao Games Corp stock overvalued or undervalued in 2026?
As of Jul 21, 2026, 293490 trades above its calculated fair value: price 10,140 KRW, fair value 7,457 KRW, a gap of about −26% (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 293490?
No. The price is what the market pays today (10,140 KRW); the fair value is what the company's own numbers justify (7,457 KRW). For Kakao Games Corp the two are 2,683 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Kakao Games Corp worth?
The market values Kakao Games Corp at about 1.1T KRW (market capitalisation, as of Jul 21, 2026). Per share that is 10,140 KRW; our models calculate a fair value of 7,457 KRW per share.
What do the bullish and bearish scenarios say about 293490?
Our models span a range for Kakao Games Corp: cautious scenario 5,565 KRW, base 7,457 KRW, optimistic 11,130 KRW per share (as of Jul 21, 2026, price 10,140 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kakao Games Corp (293490)?
Balance-sheet figures for Kakao Games Corp (as of Jul 21, 2026): return on equity −12.4%, debt of 0.55 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is 293490 from its 52-week high?
Kakao Games Corp trades at 10,140 KRW, about 43% below its 52-week high of 17,760 KRW and 46% above the low of 6,930 KRW (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 7,457 KRW is for.
Which stocks are comparable to Kakao Games Corp?
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 Kakao Games Corp stock attractive at the current price?
The data as of Jul 21, 2026: price 10,140 KRW, calculated fair value 7,457 KRW (−26%), Quality Score 37/100, from 2 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 293490 calculated?
We run Kakao Games Corp through 2 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 7,457 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. Kakao Games Corp 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 Kakao Games Corp (293490)?
The closing price on Oct 2, 2026 was 10,140 KRW. Our model-based fair value is 7,457 KRW, about −26% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kakao Games Corp right now?
Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts. 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.

Key figures of Kakao Games Corp

How large is the market capitalisation of Kakao Games Corp (293490)?
The market capitalisation of Kakao Games Corp is 1.1T KRW (≈ $802M). 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 Kakao Games Corp (293490)?
The price-to-sales ratio of Kakao Games Corp is 2.81 (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 Kakao Games Corp (293490)?
The net margin of Kakao Games Corp is −21.5% (fiscal year 2025). 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 Kakao Games Corp (293490)?
The return on equity (ROE) of Kakao Games Corp is −12.4% (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 Kakao Games Corp (293490)?
On an EBIT basis the return on assets of Kakao Games Corp is 1.5% (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 Kakao Games Corp (293490)?
The operating margin of Kakao Games Corp is −30.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kakao Games Corp (293490)?
Revenue at Kakao Games Corp is growing −35.2% versus a year earlier (3y avg −26.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Kakao Games Corp (293490)?
Earnings per share at Kakao Games Corp are growing −55.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kakao Games Corp (293490) generate?
The free cash flow of Kakao Games Corp is −55.4B 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 Kakao Games Corp (293490) carry?
The net debt of Kakao Games Corp is 443B KRW (fiscal year 2025). 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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