Nexon Co Ltd (NEXOY) fair value: what the stock is really worth
As of Oct 22, 2026: fair value (intrinsic value) of Nexon Co Ltd stock $19.40, price $17.89, upside +8.5%, quality 74 out of 100. Rating: fairly valued. 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 22, 2026.
How to read this chart
60‑month range $12.53 – $27.96 · fair‑value band $14.56 – $24.25 · the $17.89 price screens below the $19.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 22, 2026.
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NEXON Co., Ltd. engages in the production, development, and distribution of video games and mobile games in Japan and internationally. It offers PC online games, mobile games, and console games.
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The company was formerly known as NEXON Japan Co., Ltd. and changed its name to NEXON Co., Ltd. in April 2009. NEXON Co., Ltd. was founded in 1994 and is headquartered in Tokyo, Japan.
Stock analysis
Nexon Co Ltd (NEXOY) currently trades at $17.89, while our model-based Fair Value estimate is $19.40, so the stock looks roughly fairly valued today (gap 7.8%).
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Valuation
Bull case: the DCF Models group reads highest at a median of $27.54 per share, and 13 of the 26 models we run sit above the $17.89 price.
Bear case: the Dividend Discount group reads lowest at $3.73, and 13 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $14.56 (bear) to $24.25 (bull), the price of $17.89 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 74/100 (solid quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Nexon Co Ltd ADR reported revenue of ¥498B in FY2025 versus ¥274B in FY2021, a compound +16.1%/yr. Reported net income was ¥96.5B in FY2025, compounding −4.3%/yr from FY2021.
Key figures
Market cap $14.1B Large · P/E ratio 16.1 · P/S ratio 3.12 · EPS (TTM) $1.11 · Dividend yield 2.1% · Net margin 19.4% · Return on equity 12.5% · Return on assets (EBIT) 10.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 37% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 50% fair-value upside, at 8%, NEXOY screens richer than that median.
Fair Value models
Bear$14.56Fair Value $19.40Bull$24.25
Price $17.89 · Upside +8.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.9002 per share) are deliberately not added.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.Coverage ⓘCoverage = 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.94/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.6%
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.
+12.1%
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.
+11.2%
Start year 2020 (pandemic). Over 10 years: +10.1% a year
Revenue growth 15 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.
+14.0%
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What shareholders gained per year (last 5 years), in JPY ⓘ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 JPY: 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.
+0.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.2%
Dividend (yield on the price)2.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−1.2% vs 13.7%, slowing
Profit margin 2020 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.38% → 25%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
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).
−10.3%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about −12.1% a year for the price and +0.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (79 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Nexon benefits from strong cash generation via established gaming franchises and publishing partnerships, yet low return on equity and lack of a durable moat limit its competitive position.
Main risk: Focus on special dividends and capital returns may constrain funding for new global game launches and limit expansion of the publishing pipeline.
Nexon generates strong cash from its established gaming franchises and long-term publishing partnerships. The recent one-time special dividend drawn from retained earnings highlights this surplus while management maintains commitments to growth spending. Will the emphasis on returning capital ultimately support steadier earnings or constrain funding for fresh global launches?
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 · 136 stocks
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.
Cite: Fair Value Calculator (2026). "Nexon Co Ltd ADR Fair Value". https://www.fairvalue-calculator.com/stock/NEXOY
Frequently asked questions
Is Nexon Co Ltd (NEXOY) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of $19.40 versus a price of $17.89, about +8% upside (fairly valued).
What is the fair value of NEXOY?
Our model-based fair value for Nexon Co Ltd ADR is $19.40 (as of Oct 22, 2026), built from audited fundamentals. The current price: $17.89.
What is the quality score of NEXOY?
Nexon Co Ltd ADR has a Quality Score of 74/100. 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 Nexon Co Ltd (NEXOY)?
Our model-based price target is the fair value of $19.40 (as of Oct 22, 2026) from 26 valuation models. Cautious scenario $14.56, optimistic scenario $24.25. It is a calculation from audited fundamentals, not an analyst target.
What is the Nexon Co Ltd ADR stock forecast for 2026?
Our models put fair value at $19.40, about +8% upside versus a price of $17.89 (fairly valued). Cautious scenario $14.56, optimistic scenario $24.25. The calculation is refreshed regularly with new filings.
What is the revenue of Nexon Co Ltd (NEXOY)?
Nexon Co Ltd ADR reported trailing-twelve-month revenue of about ¥516B (latest available figure, as of Oct 22, 2026).
Does Nexon Co Ltd ADR pay a dividend?
Nexon Co Ltd ADR currently shows a dividend yield of 2.14% relative to its recent price (as of Oct 22, 2026).
What growth is priced into Nexon Co Ltd (NEXOY)?
For today's price to be fair in a discounted-cash-flow model, Nexon Co Ltd ADR would have to grow free cash flow by -10.3 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.2 % per year. As of Oct 22, 2026.
What discount rate (WACC) does the fair value of NEXOY use?
Our models discount Nexon Co Ltd ADR at 8.3 %: a base by market capitalisation (large), damped by beta 0.57, country premium for USA. 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 Nexon Co Ltd ADR that is -10.3 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Nexon Co Ltd (NEXOY) delivered so far?
Over the past 5 years revenue at Nexon Co Ltd ADR grew +11.2 % a year. The price currently implies -10.3 % 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 Nexon Co Ltd (NEXOY) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Nexon Co Ltd ADR (-10.3 % 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 Nexon Co Ltd (NEXOY)?
The free-cash-flow yield on the price is 7.77 %: that much free cash flow Nexon Co Ltd ADR produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nexon Co Ltd (NEXOY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nexon Co Ltd ADR it is $19.40 per share (as of Oct 22, 2026), against a price of $17.89. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Nexon Co Ltd ADR stock overvalued or undervalued in 2026?
As of Oct 22, 2026, NEXOY trades below its calculated fair value: price $17.89, fair value $19.40, a gap of about +8% (fairly valued). 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 NEXOY?
No. The price is what the market pays today ($17.89); the fair value is what the company's own numbers justify ($19.40). For Nexon Co Ltd ADR the two are $1.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nexon Co Ltd ADR worth?
The market values Nexon Co Ltd ADR at about $14.1B (market capitalisation, as of Oct 22, 2026). Per share that is $17.89; our models calculate a fair value of $19.40 per share.
What do the bullish and bearish scenarios say about NEXOY?
Our models span a range for Nexon Co Ltd ADR: cautious scenario $14.56, base $19.40, optimistic $24.25 per share (as of Oct 22, 2026, price $17.89). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NEXOY?
Nexon Co Ltd ADR trades at a price-to-earnings ratio of 16.1 (as of Oct 22, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $19.40 is built from several models across several years. Other multiples: PEG 1.8, P/B 2.1, P/S 4.3, EV/EBITDA 12.0.
What is the PEG ratio of NEXOY?
The PEG ratio of Nexon Co Ltd ADR is 1.76 (P/E divided by earnings growth, as of Oct 22, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Nexon Co Ltd (NEXOY)?
Balance-sheet figures for Nexon Co Ltd ADR (as of Oct 22, 2026): return on equity 12.5%. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is NEXOY from its 52-week high?
Nexon Co Ltd ADR trades at $17.89, about 36% below its 52-week high of $27.96 and 37% above the low of $13.06 (as of Oct 22, 2026). Distance from the high says nothing about value: that is what the fair value of $19.40 is for.
Which stocks are comparable to Nexon Co Ltd ADR?
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 Nexon Co Ltd ADR stock attractive at the current price?
The data as of Oct 22, 2026: price $17.89, calculated fair value $19.40 (+8%), Quality Score 74/100, from 26 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 NEXOY calculated?
We run Nexon Co Ltd ADR through 26 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 $19.40, 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 13.2 % above its aggregate fair value. Nexon Co Ltd ADR currently trades 8 % 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 Nexon Co Ltd (NEXOY)?
The closing price on Oct 22, 2026 was $17.89. Our model-based fair value is $19.40, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nexon Co Ltd ADR right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Nexon Co Ltd (NEXOY) come from?
Earnings per share at Nexon Co Ltd ADR grew +13.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +11.5 %, EBIT margin +0.5 %, tax rate +0.3 %, residual (interest, one-offs) +0.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Nexon Co Ltd ADR
How large is the market capitalisation of Nexon Co Ltd (NEXOY)?
The market capitalisation of Nexon Co Ltd ADR is $14.1B. 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 Nexon Co Ltd (NEXOY)?
The price-to-sales ratio of Nexon Co Ltd ADR is 3.12 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nexon Co Ltd (NEXOY)?
Earnings per share at Nexon Co Ltd ADR are $1.11 (price ÷ EPS = P/E 16.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Nexon Co Ltd (NEXOY)?
The dividend yield of Nexon Co Ltd ADR is 2.1% (payout 34.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Nexon Co Ltd (NEXOY)?
The net margin of Nexon Co Ltd ADR is 19.4% (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 Nexon Co Ltd (NEXOY)?
The return on equity (ROE) of Nexon Co Ltd ADR is 12.5% (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 Nexon Co Ltd (NEXOY)?
On an EBIT basis the return on assets of Nexon Co Ltd ADR is 10.1% (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 Nexon Co Ltd (NEXOY)?
The operating margin of Nexon Co Ltd ADR is 25.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nexon Co Ltd (NEXOY)?
Revenue at Nexon Co Ltd ADR is growing +1.9% versus a year earlier (3y avg +12.1%). 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 Nexon Co Ltd (NEXOY)?
Earnings per share at Nexon Co Ltd ADR are growing +80.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Nexon Co Ltd (NEXOY) hold?
Nexon Co Ltd ADR holds more cash than debt, ¥447B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 22, 2026