The Pinkfong Company (403850) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of The Pinkfong Company KRW 18,116, price KRW 12,170, upside +48.9%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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The Pinkfong Company, Inc. develops video and audio content, live events, and mobile apps for kids and families worldwide. It provides its products under the Pinkfong, Baby Shark, and Bebefinn brand names. The company was formerly known as SMARTSTUDY Co., Ltd. and changed its name to The Pinkfong Company, Inc. in January 2022. The Pinkfong Company, Inc.
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The Pinkfong Company, Inc. develops video and audio content, live events, and mobile apps for kids and families worldwide. It provides its products under the Pinkfong, Baby Shark, and Bebefinn brand names. The company was formerly known as SMARTSTUDY Co., Ltd. and changed its name to The Pinkfong Company, Inc. in January 2022. The Pinkfong Company, Inc. was founded in 2010 and is headquartered in Seoul, South Korea.
Stock analysis
The Pinkfong Company (403850) currently trades at 12,170 KRW, while our model-based Fair Value estimate is 18,116 KRW, implying the stock looks roughly 32.8% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 27,851 KRW per share, and 19 of the 22 models we run sit above the 12,170 KRW price.
Bear case: the Asset-Based group reads lowest at 8,601 KRW, and 3 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 16,402 KRW (bear) to 23,244 KRW (bull), the price of 12,170 KRW sits below 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 55/100 (solid 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.
The Pinkfong Company reported revenue of 93.9B KRW in FY2025 versus 83.2B KRW in FY2021, a compound +3.1%/yr. Reported net income was 18.2B KRW in FY2025, compounding −5.3%/yr from FY2021.
Key figures
Market cap 175B KRW (≈ $128M) · P/S ratio 1.52 · Net margin 19.3% · Return on equity 13.1% · Return on assets (EBIT) 7.7% · Operating margin 14.2% · Revenue (TTM) 90.4B KRW · Revenue growth (YoY) −14.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
For context, the median of 10 Communication Services peers we cover trades at −4% fair-value upside, at 49%, 403850 screens cheaper than that median.
Fair Value models
Bear 16,402 KRWFair Value 18,116 KRWBull 23,244 KRW
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.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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−3.6%
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.
−7.1%
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in KRW ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−7.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.1%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2025 ⓘ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.19% → 21%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−26.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −28.0% a year for the price.
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.Entertainment · 261 stocks
Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+49% · Top 25%
Profitability
Return on equity (TTM)13% · Top 25%
Return on assets6% · Top 25%
Net margin (TTM)21% · Top 25%
Operating margin (TTM)14% · Top 25%
Growth and dividend
Revenue growth−14% · Bottom 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Entertainment median · lower = cheaper
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Cite: Fair Value Calculator (2026). "The Pinkfong Company Fair Value". https://www.fairvalue-calculator.com/stock/403850
Frequently asked questions
Is The Pinkfong Company (403850) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 18,116 KRW versus a price of 12,170 KRW, about +49% upside (undervalued).
What is the fair value of 403850?
Our model-based fair value for The Pinkfong Company is 18,116 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 12,170 KRW.
What is the quality score of 403850?
The Pinkfong Company has a Quality Score of 55/100. 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 The Pinkfong Company (403850)?
Our model-based price target is the fair value of 18,116 KRW (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 16,402 KRW, optimistic scenario 23,244 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the The Pinkfong Company stock forecast for 2026?
Our models put fair value at 18,116 KRW, about +49% upside versus a price of 12,170 KRW (undervalued). Cautious scenario 16,402 KRW, optimistic scenario 23,244 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of The Pinkfong Company (403850)?
The Pinkfong Company reported trailing-twelve-month revenue of about 90.4B KRW (latest available figure, as of Sep 24, 2026).
What growth is priced into The Pinkfong Company (403850)?
For today's price to be fair in a discounted-cash-flow model, The Pinkfong Company would have to grow free cash flow by -26.5 % per year for five years (discount rate 13.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +3.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 403850 use?
Our models discount The Pinkfong Company at 13.1 %: a base by market capitalisation (micro), country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For The Pinkfong Company that is -26.5 % per year a year over ten years, using the same discount rate (13.1 %) and the same formula as our fair value.
How much growth has The Pinkfong Company (403850) delivered so far?
Over the past 4 years revenue at The Pinkfong Company grew +3.1 % a year. The price currently implies -26.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of The Pinkfong Company (403850) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into The Pinkfong Company (-26.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of The Pinkfong Company (403850)?
The free-cash-flow yield on the price is 10.43 %: that much free cash flow The Pinkfong Company produces per unit of market value. When it exceeds the discount rate of our models (13.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of The Pinkfong Company (403850)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For The Pinkfong Company it is 18,116 KRW per share (as of Sep 24, 2026), against a price of 12,170 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is The Pinkfong Company stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 403850 trades below its calculated fair value: price 12,170 KRW, fair value 18,116 KRW, a gap of about +49% (undervalued). 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 403850?
No. The price is what the market pays today (12,170 KRW); the fair value is what the company's own numbers justify (18,116 KRW). For The Pinkfong Company the two are 5,946 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is The Pinkfong Company worth?
The market values The Pinkfong Company at about 175B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 12,170 KRW; our models calculate a fair value of 18,116 KRW per share.
What do the bullish and bearish scenarios say about 403850?
Our models span a range for The Pinkfong Company: cautious scenario 16,402 KRW, base 18,116 KRW, optimistic 23,244 KRW per share (as of Sep 24, 2026, price 12,170 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of The Pinkfong Company (403850)?
Balance-sheet figures for The Pinkfong Company (as of Sep 24, 2026): return on equity 13.1%, debt of 0.00 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
Which stocks are comparable to The Pinkfong Company?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Warner Bros. Discovery, Inc, Live Nation Entertainment, Inc, 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 The Pinkfong Company stock attractive at the current price?
The data as of Sep 24, 2026: price 12,170 KRW, calculated fair value 18,116 KRW (+49%), Quality Score 55/100, from 22 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 403850 calculated?
We run The Pinkfong Company through 22 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 18,116 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 14.0 % above its aggregate fair value. The Pinkfong Company currently trades 49 % below its own fair value, and the market average says nothing about that. 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 The Pinkfong Company (403850)?
The closing price on Sep 23, 2026 was 12,170 KRW. Our model-based fair value is 18,116 KRW, about +49% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with The Pinkfong Company right now?
The price is below even our cautious bear case (16,402 KRW). The market is more pessimistic than our downside scenario. 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 quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of The Pinkfong Company
How large is the market capitalisation of The Pinkfong Company (403850)?
The market capitalisation of The Pinkfong Company is 175B KRW (≈ $128M). 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 The Pinkfong Company (403850)?
The price-to-sales ratio of The Pinkfong Company is 1.52 (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 The Pinkfong Company (403850)?
The net margin of The Pinkfong Company is 19.3% (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 The Pinkfong Company (403850)?
The return on equity (ROE) of The Pinkfong Company is 13.1% (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 The Pinkfong Company (403850)?
On an EBIT basis the return on assets of The Pinkfong Company is 7.7% (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 The Pinkfong Company (403850)?
The operating margin of The Pinkfong Company is 14.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at The Pinkfong Company (403850)?
Revenue at The Pinkfong Company is growing −14.4% versus a year earlier (3y avg −7.1%). 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 The Pinkfong Company (403850)?
Earnings per share at The Pinkfong Company are growing −0.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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