Financials Kakao Games Corp.

Equities

A293490

KR7293490009

Software

End-of-day quote Korea S.E. 06:00:00 2024-06-06 pm EDT 5-day change 1st Jan Change
20,550 KRW -1.20% Intraday chart for Kakao Games Corp. -3.75% -20.50%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,400,874 7,033,527 3,635,743 2,111,049 1,680,817 - -
Enterprise Value (EV) 2 2,982 6,410 3,790 2,619 2,105 2,017 2,097
P/E ratio 33.7 x 14.3 x -16.8 x -9.22 x 31.9 x 16.2 x 15.9 x
Yield - - - - - - -
Capitalization / Revenue 6.86 x 6.95 x 3.17 x 2.06 x 1.54 x 1.34 x 1.24 x
EV / Revenue 6.02 x 6.33 x 3.3 x 2.56 x 1.93 x 1.61 x 1.55 x
EV / EBITDA 37.2 x 45.6 x 15.3 x 18.1 x 14.1 x 9.2 x 10.5 x
EV / FCF - 28.7 x 34.3 x 27 x 21 x 14.1 x 19.9 x
FCF Yield - 3.48% 2.92% 3.7% 4.76% 7.11% 5.02%
Price to Book 2.78 x 2.81 x 1.74 x 1.51 x 1.16 x 1.04 x 1.03 x
Nbr of stocks (in thousands) 73,932 77,292 81,428 81,665 81,792 - -
Reference price 3 46,000 91,000 44,650 25,850 20,550 20,550 20,550
Announcement Date 2/8/21 2/8/22 2/8/23 2/7/24 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 391 495.5 1,012 1,148 1,024 1,090 1,256 1,356
EBITDA 1 - 80.22 140.5 247.1 144.7 149.2 219.3 199.9
EBIT 1 - 66.55 114.3 175.8 74.46 88.23 141.6 137
Operating Margin - 13.43% 11.29% 15.32% 7.27% 8.09% 11.27% 10.1%
Earnings before Tax (EBT) 1 - 77.94 722.1 -194.7 -372.9 80.22 143.2 122.4
Net income 1 - 85.97 528.7 -209.8 -244.6 53.26 98.46 87.64
Net margin - 17.35% 52.21% -18.28% -23.89% 4.88% 7.84% 6.46%
EPS 2 197.0 1,367 6,358 -2,650 -2,803 644.2 1,268 1,292
Free Cash Flow 3 - - 223,159 110,534 97,039 100,200 143,538 105,200
FCF margin - - 22,040.78% 9,630.95% 9,475.51% 9,190.13% 11,424.14% 7,758.15%
FCF Conversion (EBITDA) - - 158,793.85% 44,734.68% 67,055.84% 67,174.58% 65,438.15% 52,636.85%
FCF Conversion (Net income) - - 42,212.47% - - 188,133.68% 145,780.27% 120,036.51%
Dividend per Share 2 - - - - - - - -
Announcement Date 3/30/20 2/8/21 2/8/22 2/8/23 2/7/24 - - -
1KRW in Billions2KRW3KRW in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 286.7 266.3 338.8 306.9 235.7 249.2 271.1 264.7 239.2 246.3 265.7 285.7 294.7 300.2 317
EBITDA 1 - - - - - 34.86 50.4 46.44 32.27 30.54 45 65.6 62.3 - -
EBIT 1 47.86 42.09 81.04 43.73 8.957 11.34 26.48 22.55 14.08 12.26 20.38 30.02 30.68 21.2 21
Operating Margin 16.69% 15.8% 23.92% 14.25% 3.8% 4.55% 9.77% 8.52% 5.89% 4.98% 7.67% 10.51% 10.41% 7.06% 6.62%
Earnings before Tax (EBT) 1 637.2 34.2 116.9 26.47 -372.3 2.712 18.04 13.73 -407.4 8.056 18.1 25.6 12.7 18.3 17.1
Net income 1 457.3 13.55 45.09 3.153 -271.6 2.242 3.369 2.983 -253.2 0.951 10.74 18.28 15.08 10.9 10.6
Net margin 159.51% 5.09% 13.31% 1.03% -115.25% 0.9% 1.24% 1.13% -105.89% 0.39% 4.04% 6.4% 5.12% 3.63% 3.34%
EPS 5,415 157.0 - 37.00 - 26.00 - 35.00 - - - - - - -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 2/8/22 5/3/22 8/3/22 11/2/22 2/8/23 5/3/23 8/1/23 11/8/23 2/7/24 5/8/24 - - - - -
1KRW in Billions
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 154 508 424 337 416
Net Cash position 1 - 419 624 - - - - -
Leverage (Debt/EBITDA) - - - 0.6251 x 3.511 x 2.846 x 1.535 x 2.083 x
Free Cash Flow 2 - - 223,159 110,534 97,039 100,200 143,538 105,200
ROE (net income / shareholders' equity) - 9.33% 30.2% -9.43% -14.9% 3.83% 6.89% 7.37%
ROA (Net income/ Total Assets) - 7.08% 18.8% -5.13% -6.23% 2.02% 3.36% 3.11%
Assets 1 - 1,214 2,807 4,090 3,928 2,633 2,930 2,822
Book Value Per Share 3 - 16,552 32,383 25,617 17,139 17,757 19,741 20,002
Cash Flow per Share 3 - 1,328 3,133 1,506 1,527 1,334 2,822 3,125
Capex 1 - 27.8 11 23.3 27.6 29.2 40.9 29.4
Capex / Sales - 5.61% 1.09% 2.03% 2.69% 2.67% 3.26% 2.17%
Announcement Date 3/30/20 2/8/21 2/8/22 2/8/23 2/7/24 - - -
1KRW in Billions2KRW in Million3KRW
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
19
Last Close Price
20,550 KRW
Average target price
25,306 KRW
Spread / Average Target
+23.14%
Consensus
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