Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩11,980, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Entertainment industry in South Korea. Total loss to shareholders of 9.7% over the past three years. Announcement • Apr 29
Webzen Inc. to Report Q1, 2026 Results on May 12, 2026 Webzen Inc. announced that they will report Q1, 2026 results on May 12, 2026 Reported Earnings • Mar 20
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₩824 (down from ₩1,932 in FY 2024). Revenue: ₩174.4b (down 19% from FY 2024). Net income: ₩24.0b (down 58% from FY 2024). Profit margin: 14% (down from 27% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Feb 26
Webzen Inc., Annual General Meeting, Mar 27, 2026 Webzen Inc., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 27, pangyogongwon-ro 4-gil, bundang-gu, gyeonggi-do, seongnam South Korea Announcement • Jan 28
Webzen Inc. to Report Q4, 2025 Results on Feb 11, 2026 Webzen Inc. announced that they will report Q4, 2025 results on Feb 11, 2026 Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩15,100, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Entertainment industry in South Korea. Total loss to shareholders of 11% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 27 April 2026. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 2.2%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (0.6%). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩305 (vs ₩343 in 3Q 2024) Third quarter 2025 results: EPS: ₩305 (down from ₩343 in 3Q 2024). Revenue: ₩43.8b (down 11% from 3Q 2024). Net income: ₩8.86b (down 12% from 3Q 2024). Profit margin: 20% (in line with 3Q 2024). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Declared Dividend • Nov 08
Dividend of ₩300 announced Dividend of ₩300 is the same as last year. Ex-date: 29th December 2025 Payment date: 27th April 2026 Dividend yield will be 2.5%, which is higher than the industry average of 2.0%. Sustainability & Growth Dividend is covered by both earnings (29% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has decreased by an average of 6.8% per year over the past 3 years, but has still been somewhat stable with no excessively large reductions to payments. EPS is expected to grow by 103% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
Webzen Inc. announces Annual dividend, payable on April 27, 2026 Webzen Inc. announced Annual dividend of KRW 300.0000 per share payable on April 27, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: ₩235 (vs ₩474 in 2Q 2024) Second quarter 2025 results: EPS: ₩235 (down from ₩474 in 2Q 2024). Revenue: ₩39.1b (down 19% from 2Q 2024). Net income: ₩6.84b (down 51% from 2Q 2024). Profit margin: 18% (down from 29% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Price Target Changed • Aug 06
Price target decreased by 14% to ₩16,500 Down from ₩19,200, the current price target is an average from 3 analysts. New target price is 12% above last closing price of ₩14,750. Stock is down 13% over the past year. The company is forecast to post earnings per share of ₩1,349 for next year compared to ₩1,932 last year. Announcement • Jul 31
Webzen Inc. to Report First Half, 2025 Results on Aug 07, 2025 Webzen Inc. announced that they will report first half, 2025 results on Aug 07, 2025 New Risk • May 22
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 19% Last year net profit margin: 31% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Major Estimate Revision • Apr 18
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩200.6m to ₩197.9m. EPS estimate also fell from ₩1,795 per share to ₩1,469 per share. Net income forecast to shrink 17% next year vs 57% growth forecast for Entertainment industry in South Korea . Consensus price target down from ₩19,200 to ₩18,500. Share price was steady at ₩13,130 over the past week. Price Target Changed • Apr 17
Price target decreased by 9.3% to ₩18,500 Down from ₩20,400, the current price target is an average from 5 analysts. New target price is 38% above last closing price of ₩13,380. Stock is down 20% over the past year. The company is forecast to post earnings per share of ₩1,469 for next year compared to ₩1,932 last year. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Outside Director Jin Hong Kwon was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 22
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₩1,932 (down from ₩1,955 in FY 2023). Revenue: ₩214.7b (up 9.4% from FY 2023). Net income: ₩56.9b (down 1.2% from FY 2023). Profit margin: 27% (down from 29% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 28%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Announcement • Feb 21
Webzen Inc., Annual General Meeting, Mar 28, 2025 Webzen Inc., Annual General Meeting, Mar 28, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 27, pangyogongwon-ro 4-gil, bundang-gu, gyeonggi-do, seongnam South Korea Major Estimate Revision • Feb 19
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₩239.1m to ₩200.6m. EPS estimate fell from ₩1,815 to ₩1,795 per share. Net income forecast to grow 2.2% next year vs 68% growth forecast for Entertainment industry in South Korea. Consensus price target down from ₩20,400 to ₩19,200. Share price was steady at ₩13,850 over the past week. Announcement • Feb 05
Webzen Inc. to Report Q4, 2024 Results on Feb 12, 2025 Webzen Inc. announced that they will report Q4, 2024 results on Feb 12, 2025 Price Target Changed • Jan 01
Price target decreased by 8.2% to ₩21,200 Down from ₩23,100, the current price target is an average from 5 analysts. New target price is 55% above last closing price of ₩13,710. Stock is down 16% over the past year. The company is forecast to post earnings per share of ₩1,602 for next year compared to ₩1,955 last year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 16 April 2025. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (1.0%). Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: ₩342 (vs ₩381 in 3Q 2023) Third quarter 2024 results: EPS: ₩342 (down from ₩381 in 3Q 2023). Revenue: ₩49.2b (up 22% from 3Q 2023). Net income: ₩10.1b (down 10% from 3Q 2023). Profit margin: 21% (down from 28% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 12
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: ₩48.0b (up 13% from 2Q 2023). Net income: ₩13.9b (up 5.6% from 2Q 2023). Profit margin: 29% (down from 31% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Entertainment industry in South Korea. Major Estimate Revision • May 21
Consensus EPS estimates increase by 20% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from ₩1,910 to ₩2,299. Revenue forecast steady at ₩247.6m. Net income forecast to grow 23% next year vs 33% growth forecast for Entertainment industry in South Korea. Consensus price target of ₩23,875 unchanged from last update. Share price was steady at ₩16,680 over the past week. Reported Earnings • Mar 15
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₩1,954 (down from ₩2,441 in FY 2022). Revenue: ₩196.3b (down 19% from FY 2022). Net income: ₩57.6b (down 21% from FY 2022). Profit margin: 29% (in line with FY 2022). Revenue exceeded analyst estimates by 9.3%. Earnings per share (EPS) also surpassed analyst estimates by 38%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 23% per year. Price Target Changed • Feb 15
Price target increased by 15% to ₩22,400 Up from ₩19,400, the current price target is an average from 5 analysts. New target price is 23% above last closing price of ₩18,150. Stock is down 3.8% over the past year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩370 per share at 2.1% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 18 April 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.7%). Price Target Changed • Dec 16
Price target increased by 7.8% to ₩19,400 Up from ₩18,000, the current price target is an average from 5 analysts. New target price is 12% above last closing price of ₩17,390. Stock is up 11% over the past year. The company is forecast to post earnings per share of ₩1,425 for next year compared to ₩2,441 last year. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: ₩380 (vs ₩638 in 3Q 2022) Third quarter 2023 results: EPS: ₩380 (down from ₩638 in 3Q 2022). Revenue: ₩40.4b (down 32% from 3Q 2022). Net income: ₩11.2b (down 40% from 3Q 2022). Profit margin: 28% (down from 32% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 20
First quarter 2023 earnings released: EPS: ₩431 (vs ₩626 in 1Q 2022) First quarter 2023 results: EPS: ₩431 (down from ₩626 in 1Q 2022). Revenue: ₩42.8b (down 39% from 1Q 2022). Net income: ₩12.7b (down 32% from 1Q 2022). Profit margin: 30% (up from 27% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 16
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from ₩239.3m to ₩204.5m. EPS estimate fell from ₩1,656 to ₩1,629 per share. Net income forecast to shrink 21% next year vs 84% growth forecast for Entertainment industry in South Korea . Consensus price target of ₩18,750 unchanged from last update. Share price fell 4.3% to ₩15,000 over the past week. Reported Earnings • Mar 18
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: ₩2,441 (down from ₩2,862 in FY 2021). Revenue: ₩242.1b (down 15% from FY 2021). Net income: ₩72.4b (down 17% from FY 2021). Profit margin: 30% (in line with FY 2021). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates by 21%. Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Entertainment industry in South Korea. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 15% per year. Buying Opportunity • Jan 06
Now 22% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be ₩21,027, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 24%. Revenue is forecast to decline by 1.3% in 2 years. Earnings is forecast to decline by 18% in the next 2 years. Price Target Changed • Nov 16
Price target decreased to ₩23,833 Down from ₩26,200, the current price target is an average from 6 analysts. New target price is 47% above last closing price of ₩16,200. Stock is down 50% over the past year. The company is forecast to post earnings per share of ₩2,086 for next year compared to ₩2,862 last year. Price Target Changed • Oct 21
Price target decreased to ₩23,833 Down from ₩26,000, the current price target is an average from 6 analysts. New target price is 69% above last closing price of ₩14,100. Stock is down 48% over the past year. The company is forecast to post earnings per share of ₩2,136 for next year compared to ₩2,862 last year. Price Target Changed • Apr 27
Price target decreased to ₩31,750 Down from ₩39,167, the current price target is an average from 4 analysts. New target price is 45% above last closing price of ₩21,950. Stock is down 38% over the past year. The company is forecast to post earnings per share of ₩2,196 for next year compared to ₩2,862 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Outside Director Mi Jung Sang was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Outside Director Mi Jung Sang was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 16
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: ₩2,862 (up from ₩2,802 in FY 2020). Revenue: ₩284.8b (down 3.2% from FY 2020). Net income: ₩86.9b (flat on FY 2020). Profit margin: 31% (up from 29% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 9.3%, compared to a 42% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩21,000, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 21x in the Entertainment industry in South Korea. Total returns to shareholders of 4.2% over the past three years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment improved over the past week After last week's 19% share price gain to ₩30,200, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 22x in the Entertainment industry in South Korea. Total returns to shareholders of 49% over the past three years. Price Target Changed • Nov 25
Price target decreased to ₩35,000 Down from ₩39,167, the current price target is an average from 6 analysts. New target price is 38% above last closing price of ₩25,300. Stock is down 26% over the past year. The company is forecast to post earnings per share of ₩2,373 for next year compared to ₩2,802 last year. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 26% share price gain to ₩32,200, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 36x in the Entertainment industry in South Korea. Total returns to shareholders of 85% over the past three years. Price Target Changed • Aug 12
Price target decreased to ₩44,500 Down from ₩48,000, the current price target is an average from 7 analysts. New target price is 61% above last closing price of ₩27,600. Stock is down 26% over the past year. Major Estimate Revision • Aug 10
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from ₩310.0m to ₩322.1m. EPS estimate fell from ₩3,096 to ₩2,462 per share. Net income forecast to shrink 15% next year vs 58% growth forecast for Entertainment industry in South Korea . Consensus price target down from ₩48,000 to ₩47,000. Share price was steady at ₩28,350 over the past week. Reported Earnings • May 20
First quarter 2021 earnings released: EPS ₩1,023 (vs ₩223 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₩78.0b (up 127% from 1Q 2020). Net income: ₩31.3b (up 351% from 1Q 2020). Profit margin: 40% (up from 20% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Price Target Changed • May 15
Price target decreased to ₩51,286 Down from ₩57,286, the current price target is an average from 7 analysts. New target price is 62% above last closing price of ₩31,700. Stock is up 65% over the past year. Price Target Changed • Apr 15
Price target increased to ₩57,286 Up from ₩53,500, the current price target is an average from 7 analysts. New target price is 41% above last closing price of ₩40,750. Stock is up 184% over the past year. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improved over the past week After last week's 20% share price gain to ₩48,400, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 21x in the Entertainment industry in South Korea. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₩92,239 per share. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 16% share price gain to ₩41,200, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 22x in the Entertainment industry in South Korea. Total returns to shareholders of 29% over the past three years. Reported Earnings • Mar 11
Full year 2020 earnings released: EPS ₩2,802 (vs ₩1,369 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₩294.1b (up 67% from FY 2019). Net income: ₩86.2b (up 102% from FY 2019). Profit margin: 29% (up from 24% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Feb 20
Webzen Inc., Annual General Meeting, Mar 19, 2021 Webzen Inc., Annual General Meeting, Mar 19, 2021, at 09:00 Korea Standard Time. Announcement • Jan 28
Webzen Inc. to Report Fiscal Year 2020 Results on Feb 03, 2021 Webzen Inc. announced that they will report fiscal year 2020 results on Feb 03, 2021 Is New 90 Day High Low • Jan 11
New 90-day high: ₩39,200 The company is up 6.0% from its price of ₩37,000 on 13 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩73,789 per share. Reported Earnings • Nov 18
Third quarter 2020 earnings released: EPS ₩1,105 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2020 results: Revenue: ₩107.0b (up 126% from 3Q 2019). Net income: ₩33.8b (up 118% from 3Q 2019). Profit margin: 32% (down from 33% in 3Q 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 8% per year. Major Estimate Revision • Nov 10
Analysts increase revenue estimates to ₩315.3m The 2020 consensus revenue estimate increased from ₩269.6m. Earning per share (EPS) estimate also increased from ₩2,065 to ₩2,699 for the same period. Net income is expected to grow by 106% next year compared to 72% growth forecast for the Entertainment industry in South Korea. The consensus price target increased from ₩39,143 to ₩44,167. Share price is up 11% to ₩37,150 over the past week. Price Target Changed • Sep 22
Price target raised to ₩33,429 Up from ₩28,143, the current price target is an average from 7 analysts. The new target price is close to the current share price of ₩34,350. As of last close, the stock is up 97% over the past year. Announcement • Aug 31
Webzen Inc. to Report First Half, 2020 Results on Aug 07, 2020 Webzen Inc. announced that they will report first half, 2020 results on Aug 07, 2020