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Gravity

Nasdaq:GRVY
Snowflake Description

Flawless balance sheet with outstanding track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GRVY
Nasdaq
$444M
Market Cap
  1. Home
  2. US
  3. Media
Company description

Gravity Co., Ltd. develops, publishes, and distributes online games in South Korea, Japan, the United States, Canada, Taiwan, the Philippines, Thailand, Indonesia, Hong Kong, Macau, China, and internationally. The last earnings update was 35 days ago. More info.


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  • Gravity has significant price volatility in the past 3 months.
GRVY Share Price and Events
7 Day Returns
2.9%
NasdaqGM:GRVY
-0.3%
US Entertainment
0.3%
US Market
1 Year Returns
107.6%
NasdaqGM:GRVY
-0%
US Entertainment
0.7%
US Market
GRVY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gravity (GRVY) 2.9% -26.3% -11% 107.6% 2642.1% 1778.9%
US Entertainment -0.3% 0.6% 4.2% -0% 67.9% 90.7%
US Market 0.3% 0.4% 0.6% 0.7% 37.2% 37.4%
1 Year Return vs Industry and Market
  • GRVY outperformed the Entertainment industry which returned -0% over the past year.
  • GRVY outperformed the Market in United States of America which returned 0.7% over the past year.
Price Volatility
GRVY
Industry
5yr Volatility vs Market

GRVY Value

 Is Gravity undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Gravity to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Gravity.

NasdaqGM:GRVY Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:GRVY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.926 (1 + (1- 30%) (0%))
0.951
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.951 * 5.96%)
8.4%

Discounted Cash Flow Calculation for NasdaqGM:GRVY using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Gravity is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGM:GRVY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (KRW, Millions) Source Present Value
Discounted (@ 8.4%)
2019 29,662.28 Est @ 8.87% 27,364.90
2020 31,746.04 Est @ 7.02% 27,018.93
2021 33,567.14 Est @ 5.74% 26,356.17
2022 35,189.95 Est @ 4.83% 25,490.36
2023 36,669.04 Est @ 4.2% 24,504.52
2024 38,048.25 Est @ 3.76% 23,456.90
2025 39,361.62 Est @ 3.45% 22,387.12
2026 40,635.08 Est @ 3.24% 21,321.40
2027 41,888.15 Est @ 3.08% 20,276.59
2028 43,135.41 Est @ 2.98% 19,263.14
Present value of next 10 years cash flows ₩237,440.02
NasdaqGM:GRVY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₩43,135.41 × (1 + 2.73%) ÷ (8.4% – 2.73%)
₩782,174.86
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₩782,174.86 ÷ (1 + 8.4%)10
₩349,298.74
NasdaqGM:GRVY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₩237,440.02 + ₩349,298.74
₩586,738.76
Equity Value per Share
(KRW)
= Total value / Shares Outstanding
= ₩586,738.76 / 6.95
₩84436.21
NasdaqGM:GRVY Discount to Share Price
Calculation Result
Exchange Rate KRW/USD
(Reporting currency to currency of NasdaqGM:GRVY)
0.001
Value per Share
(USD)
= Value per Share in KRW x Exchange Rate (KRW/USD)
= ₩84436.21 x 0.001
$71.14
Value per share (USD) From above. $71.14
Current discount Discount to share price of $63.89
= -1 x ($63.89 - $71.14) / $71.14
10.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Gravity is available for.
Intrinsic value
10%
Share price is $63.89 vs Future cash flow value of $71.14
Current Discount Checks
For Gravity to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Gravity's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Gravity's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Gravity's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gravity's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:GRVY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in KRW ₩6,857.78
NasdaqGM:GRVY Share Price ** NasdaqGM (2019-06-17) in USD $63.89
NasdaqGM:GRVY Share Price converted to KRW reporting currency Exchange rate (USD/ KRW) 1186.83 ₩75826.57
United States of America Entertainment Industry PE Ratio Median Figure of 23 Publicly-Listed Entertainment Companies 30.45x
United States of America Market PE Ratio Median Figure of 3,093 Publicly-Listed Companies 17.68x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Gravity.

NasdaqGM:GRVY PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:GRVY Share Price ÷ EPS (both in KRW)

= 75826.57 ÷ 6,857.78

11.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gravity is good value based on earnings compared to the US Entertainment industry average.
  • Gravity is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Gravity's expected growth come at a high price?
Raw Data
NasdaqGM:GRVY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-4.4%per year
United States of America Entertainment Industry PEG Ratio Median Figure of 18 Publicly-Listed Entertainment Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Gravity, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Gravity's assets?
Raw Data
NasdaqGM:GRVY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in KRW ₩13,818.45
NasdaqGM:GRVY Share Price * NasdaqGM (2019-06-17) in USD $63.89
NasdaqGM:GRVY Share Price converted to KRW reporting currency Exchange rate (USD/ KRW) 1186.83 ₩75826.57
United States of America Entertainment Industry PB Ratio Median Figure of 62 Publicly-Listed Entertainment Companies 3.19x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.79x
NasdaqGM:GRVY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:GRVY Share Price ÷ Book Value per Share (both in KRW)

= 75826.57 ÷ 13,818.45

5.49x

* Primary Listing of Gravity.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gravity is overvalued based on assets compared to the US Entertainment industry average.
X
Value checks
We assess Gravity's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Entertainment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Entertainment industry average (and greater than 0)? (1 check)
  5. Gravity has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

GRVY Future Performance

 How is Gravity expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Gravity, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gravity expected to grow at an attractive rate?
  • Gravity's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Gravity's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Unable to compare Gravity's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:GRVY Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:GRVY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -4.4%
United States of America Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
United States of America Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 11.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:GRVY Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in KRW Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:GRVY Future Estimates Data
Date (Data in KRW Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
NasdaqGM:GRVY Past Financials Data
Date (Data in KRW Millions) Revenue Cash Flow Net Income *
2019-03-31 354,082 47,654
2018-12-31 286,770 35,972 31,443
2018-09-30 241,058 21,374
2018-06-30 220,580 17,758
2018-03-31 184,582 14,698
2017-12-31 141,623 26,136 13,319
2017-09-30 91,602 8,890
2017-06-30 83,625 9,281
2017-03-31 65,654 4,121
2016-12-31 51,396 2,494 657
2016-09-30 42,600 -9,333
2016-06-30 35,525 -14,880

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Gravity's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Gravity is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:GRVY Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Gravity Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:GRVY Future Estimates Data
Date (Data in KRW Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
NasdaqGM:GRVY Past Financials Data
Date (Data in KRW Millions) EPS *
2019-03-31 6,857.78
2018-12-31 4,524.89
2018-09-30 3,075.89
2018-06-30 2,555.52
2018-03-31 2,115.16
2017-12-31 1,916.71
2017-09-30 1,279.34
2017-06-30 1,335.61
2017-03-31 593.04
2016-12-31 94.55
2016-09-30 -1,343.09
2016-06-30 -2,141.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Gravity will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Gravity's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Gravity has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

GRVY Past Performance

  How has Gravity performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Gravity's growth in the last year to its industry (Entertainment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Gravity has delivered over 20% year on year earnings growth in the past 5 years.
  • Gravity's 1-year earnings growth exceeds its 5-year average (224.2% vs 70.4%)
  • Gravity's earnings growth has exceeded the US Entertainment industry average in the past year (224.2% vs 62.5%).
Earnings and Revenue History
Gravity's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Gravity Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:GRVY Past Revenue, Cash Flow and Net Income Data
Date (Data in KRW Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 354,082.00 47,654.00 27,658.00 8,021.00
2018-12-31 286,770.00 31,443.00 34,820.00 8,018.00
2018-09-30 241,058.48 21,374.05 38,171.82 7,503.51
2018-06-30 220,580.48 17,758.05 37,512.82 7,179.51
2018-03-31 184,582.48 14,698.05 34,619.82 6,478.51
2017-12-31 141,623.00 13,319.00 28,012.00 5,239.00
2017-09-30 91,602.00 8,890.00 22,080.00 2,921.00
2017-06-30 83,625.00 9,281.00 22,121.00 2,381.00
2017-03-31 65,654.00 4,121.00 18,828.00 2,199.00
2016-12-31 51,396.00 657.00 15,977.00 1,973.00
2016-09-30 42,600.00 -9,333.00 13,950.00 2,456.00
2016-06-30 35,525.00 -14,880.00 11,866.00 3,209.00
2016-03-31 35,685.00 -16,038.00 11,675.00 4,162.00
2015-12-31 35,660.00 -16,965.00 11,481.00 5,277.00
2015-09-30 31,761.66 -18,845.83 9,375.79 6,114.76
2015-06-30 32,635.66 -19,420.83 9,843.79 6,155.76
2015-03-31 33,666.66 -19,688.83 9,920.79 5,668.76
2014-12-31 39,889.00 -20,907.00 12,682.00 4,847.00
2014-09-30 35,606.96 -21,939.69 12,658.43 4,700.32
2014-06-30 38,868.96 -20,708.69 13,160.43 4,560.32
2014-03-31 41,408.96 -19,294.69 14,581.43 5,643.32
2013-12-31 47,685.00 -18,588.00 17,063.00 6,131.00
2013-09-30 44,889.08 -17,937.40 16,523.05 5,366.05
2013-06-30 46,094.08 -17,526.40 15,836.05 5,800.05
2013-03-31 47,390.08 -17,035.40 16,582.05 5,139.05
2012-12-31 51,951.08 -14,278.40 18,967.05 5,134.05
2012-09-30 48,900.22 5,760.50 20,256.64 4,626.56
2012-06-30 49,673.22 10,570.50 20,559.64 3,609.56

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Gravity made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Gravity used its assets more efficiently than the US Entertainment industry average last year based on Return on Assets.
  • Gravity has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Gravity's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Entertainment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Gravity has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

GRVY Health

 How is Gravity's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Gravity's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gravity is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Gravity's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Gravity's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Gravity has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Gravity Company Filings, last reported 2 months ago.

NasdaqGM:GRVY Past Debt and Equity Data
Date (Data in KRW Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 95,591.00 0.00 127,330.00
2018-12-31 75,552.00 0.00 95,551.00
2018-09-30 60,338.00 0.00 65,779.00
2018-06-30 54,079.00 0.00 67,906.00
2018-03-31 47,782.00 0.00 57,397.00
2017-12-31 43,998.00 0.00 61,595.00
2017-09-30 38,836.00 0.00 50,819.00
2017-06-30 36,086.00 0.00 45,572.00
2017-03-31 32,498.00 0.00 42,196.00
2016-12-31 30,647.43 0.00 38,719.67
2016-09-30 30,042.00 0.00 35,792.00
2016-06-30 26,738.00 0.00 37,445.00
2016-03-31 28,354.00 0.00 35,881.00
2015-12-31 29,992.00 0.00 36,409.00
2015-09-30 39,726.00 0.00 38,864.00
2015-06-30 42,356.00 0.00 40,424.00
2015-03-31 45,188.00 0.00 42,694.00
2014-12-31 47,848.00 0.00 42,882.00
2014-09-30 59,973.00 0.00 42,243.00
2014-06-30 63,115.00 0.00 43,915.00
2014-03-31 66,066.00 0.00 46,776.00
2013-12-31 69,159.85 0.00 47,724.75
2013-09-30 83,072.00 0.00 49,709.00
2013-06-30 84,887.00 0.00 50,813.00
2013-03-31 87,915.00 0.00 51,539.00
2012-12-31 87,205.64 0.00 52,967.76
2012-09-30 107,140.00 0.00 55,424.00
2012-06-30 109,842.00 0.00 55,288.00
  • Gravity has no debt.
  • Gravity has not taken on any debt in the past 5 years.
  • Gravity has no debt, it does not need to be covered by operating cash flow.
  • Gravity has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Gravity's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Gravity has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

GRVY Dividends

 What is Gravity's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Gravity dividends.
If you bought $2,000 of Gravity shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Gravity's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Gravity's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:GRVY Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:GRVY Future Dividends Estimate Data
Date (Data in ₩) Dividend per Share (annual) Avg. No. Analysts

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Gravity has not reported any payouts.
  • Unable to verify if Gravity's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Gravity's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Gravity has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Gravity's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Gravity afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gravity has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GRVY Management

 What is the CEO of Gravity's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hyun Park
AGE 45
TENURE AS CEO 8.3 years
CEO Bio

Mr. Hyun Chul Park has been the Chief Executive Officer of Gravity Co., Ltd. since March 25, 2011. Mr. Park General Manager of International Division of GungHo Online Entertainment, Inc., since 2007. He served as General Manager of Content Producing Department at SEGA Networks (China) Co., Ltd., from 2005 to 2007; Manager of Asia Division at SEGA Corporation from 2004 to 2005; Manager of Overseas Marketing Team of ActozSoft Co., Ltd., from 2002 to 2004; Manager of Overseas Marketing Team at Siementech Co., Ltd., from 2001 to 2002; and Engineer Team of Toyota Vista Tokyo Co., Ltd., from 1998 to 2001. He has been a Director of Barunson Interactive Co., Ltd., since 2010 and NeoCyon, Inc., since 2009. He has been an Executive Director of Gravity Co., Ltd., since March 25, 2011. Mr. Park was Associate in Automotive Engineering, Tokyo College of Technology (currently Tokyo College of Automotive Technology) in (1998).

CEO Compensation
  • Insufficient data for Hyun to compare compensation growth.
  • Insufficient data for Hyun to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Gravity management team in years:

10.9
Average Tenure
50
Average Age
  • The average tenure for the Gravity management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Heung Gon Kim

TITLE
Chief Financial Officer
AGE
52
TENURE
10.8 yrs

Yoshinori Kitamura

TITLE
Chairman of the Board & COO
AGE
50
TENURE
11 yrs

Hyun Park

TITLE
CEO & Executive Director
AGE
45
TENURE
8.3 yrs

Taik Baik Seung

TITLE
Chief Marketing Officer and Senior Executive Vice President

Kyu Lee

TITLE
Senior Executive Vice President of Human Resources
TENURE
14.2 yrs

Kazuki Morishita

TITLE
Executive Director
AGE
45

Kazuya Sakai

TITLE
Executive Director
AGE
53
Board of Directors Tenure

Average tenure and age of the Gravity board of directors in years:

8.3
Average Tenure
53
Average Age
  • The tenure for the Gravity board of directors is about average.
Board of Directors

Yoshinori Kitamura

TITLE
Chairman of the Board & COO
AGE
50
TENURE
8.2 yrs

Hyun Park

TITLE
CEO & Executive Director
AGE
45
TENURE
8.3 yrs

Kazuki Morishita

TITLE
Executive Director
AGE
45
TENURE
11.3 yrs

Kazuya Sakai

TITLE
Executive Director
AGE
53
TENURE
10.3 yrs

Doo Ryu

TITLE
Independent Director
AGE
57
TENURE
8.3 yrs

Jung Yoo

TITLE
Independent Director
AGE
57
TENURE
8.3 yrs

Yong Kwon

TITLE
Independent Director
AGE
60
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Gravity's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Gravity has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

GRVY News

Simply Wall St News

Why Gravity Co., Ltd.’s (NASDAQ:GRVY) Return On Capital Employed Is Impressive

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Author Edwin Whiting says to be careful when comparing the ROCE of different businesses, since 'No two businesses are exactly alike.' How Do You Calculate Return On Capital Employed? … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Gravity: 0.52 = ₩53b ÷ (₩198b - ₩97b) (Based on the trailing twelve months to March 2019.) Therefore, Gravity has an ROCE of 52%.

Simply Wall St -

Gravity Co., Ltd. (NASDAQ:GRVY): The Best Of Both Worlds

Help shape the future of investing tools and you could win a $250 gift card! … As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook.

Simply Wall St -

The Gravity (NASDAQ:GRVY) Share Price Has Soared 3722%, Reaching For The Stratosphere

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Given the importance of this milestone, it's not overly surprising that the share price has increased strongly.

Simply Wall St -

Do Institutions Own Gravity Co., Ltd. (NASDAQ:GRVY) Shares?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Gravity is a smaller company with a market capitalization of US$517m, so it may still be flying under the radar of many institutional investors. … institutions own shares in the company.

Simply Wall St -

Can Gravity Co., Ltd.'s (NASDAQ:GRVY) ROE Continue To Surpass The Industry Average?

This article is for those who would like to learn about Return On Equity (ROE). … The formula for return on equity is: … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Gravity Co., Ltd.’s (NASDAQ:GRVY) 36% ROCE Any Good?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Return On Capital Employed (ROCE): What is it? … How Do You Calculate Return On Capital Employed?

Simply Wall St -

Do Institutions Own Gravity Co Ltd (NASDAQ:GRVY) Shares?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Companies that have been privatized tend to have low insider ownership. … With a market capitalization of US$250m, Gravity is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

Does Gravity Co Ltd's (NASDAQ:GRVY) PE Ratio Warrant A Buy?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … See our latest analysis for Gravity

Simply Wall St -

GRVY Company Info

Description

Gravity Co., Ltd. develops, publishes, and distributes online games in South Korea, Japan, the United States, Canada, Taiwan, the Philippines, Thailand, Indonesia, Hong Kong, Macau, China, and internationally. It offers online games; mobile games and applications; and other games and game-related products and services, including character-based merchandise and animation. The company also provides massively multiplayer online role playing games; and game character merchandising. In addition, it offers console games; markets dolls, stationery, food, and other character-based merchandise, as well as game manuals, monthly magazines, and other publications. Further, it provides Website development and operation services; and sells goods related to mobile phones. The company was founded in 2000 and is headquartered in Seoul, South Korea. Gravity Co., Ltd. is a subsidiary of GungHo Online Entertainment, Inc.

Details
Name: Gravity Co., Ltd.
GRVY
Exchange: NasdaqGM
Founded: 2000
$443,965,221
6,948,900
Website: http://www.gravity.co.kr
Address: Gravity Co., Ltd.
396 World Cup buk-ro,
15th Floor,
Seoul,
121-795,
South Korea
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM GRVY ADR EACH REP 2 ORD SPON(POST REV SPLT) Nasdaq Global Market US USD 08. Feb 2005
DB GD8A ADR EACH REP 2 ORD SPON(POST REV SPLT) Deutsche Boerse AG DE EUR 08. Feb 2005
Number of employees
Current staff
Staff numbers
0
Gravity employees.
Industry
Interactive Home Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/17 23:59
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2018/03/30
Last earnings filing: 2019/05/13
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.