Winking Studios Limited (WKS) Fair Value & Analysis
Communication Services · SG · Market cap 95.0M SGD
Fair value as of: Aug 9, 2026
From 24 valuation models · updated yesterday
Share price +2.4% over the past month.
A solid business, but screening 86% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (0.0400 SGD). The favourable scenario is already priced in.
- Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (0.0200 SGD to 0.0400 SGD) leaves room in how you read the outcome.
Price vs Fair Value (3 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 9, 2026.
How to read this chart
33‑month range 0.1960 SGD – 0.3350 SGD · fair‑value band 0.0200 SGD – 0.0400 SGD · the 0.2100 SGD price screens above the 0.0300 SGD fair value. Dashed = 300-day average. As of Aug 9, 2026.
Analysis
Winking Studios Limited (WKS) currently trades at 0.2100 SGD, while our model-based Fair Value estimate is 0.0300 SGD, implying the stock looks roughly 85.7% overvalued today. The Quality Score stands at 51/100 (solid 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: high).
Over the trailing twelve months, Winking Studios Limited generated revenue of 45.5M SGD at a net margin of 0.7%. Revenue grew 56.6% year over year. It earns a return on equity of 0.6%. Fundamentals as of Aug 9, 2026
Our scenario range runs from 0.0200 SGD (bear case) to 0.0400 SGD (bull case); at 0.2100 SGD, the current price sits above 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 24% 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 -86%, WKS screens richer 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 24 models by family
Widest divergence: DCF Models (0.1800 SGD) versus Earnings-Based (0.0200 SGD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 34
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
Winking Studios Limited, an investment holding company, operates as an art outsourcing and game development studio in Mainland China, Taiwan, South Korea, the United States, Japan, and internationally.
Full company description
Winking Studios Limited, an investment holding company, operates as an art outsourcing and game development studio in Mainland China, Taiwan, South Korea, the United States, Japan, and internationally. The company operates three segments: Original Equipment Manufacturer (Art Outsourcing), Original Design Manufacturer (Game Development), and Global Publishing and Others. It creates and develops digital art assets, including 2D concept art, 3D modelling, 2D animation, and 3D animation and visual effects, as well as environment and game character design services. The company also offers programming, game development, and design and script writing services, as well as releases game products produced by the company and third-party game developers, such as PlayStation, Switch, and Steam platforms. In addition, it sells video games and peripheral gaming products; and engages in Intellectual property licensing business. The company was founded in 1997 and is headquartered in Singapore. Winking Studios Limited is a subsidiary of Acer Gaming Inc.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Winking Studios Limited reported revenue of 45.5M SGD in FY2025 versus 23.7M SGD in FY2021, a compound +17.7%/yr. Reported net income was 326K SGD in FY2025, compounding −43.1%/yr from FY2021.
WKS screens 86% overvalued. Compare with NetEase, Inc →
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.
Valuation Multiples vs Electronic Gaming & Multimedia median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 Aug 9, 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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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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