NCSOFT Corp Relative Valuation - NCSOFT Corp - Alpha Spread

NCSOFT Corp
KRX:036570

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NCSOFT Corp
KRX:036570
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Price: 179 800 KRW 0.39%
Market Cap: 3.7T KRW
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Relative Value

The Relative Value of one NCSOFT Corp stock under the Base Case scenario is 213 007.32 KRW. Compared to the current market price of 179 800 KRW, NCSOFT Corp is Undervalued by 16%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

Relative Value
Base Case
213 007.32 KRW
Undervaluation 16%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
95
vs Industry
32
Median 3Y
2.9
Median 5Y
3.8
Industry
1.4
Forward
2.2
vs History
82
vs Industry
19
Median 3Y
20.1
Median 5Y
27
Industry
17.4
Forward
20.3
vs History
50
vs Industry
15
Median 3Y
22.6
Median 5Y
25.4
Industry
11.4
vs History
vs Industry
33
Median 3Y
30.1
Median 5Y
29.5
Industry
15.6
vs History
95
vs Industry
51
Median 3Y
2.4
Median 5Y
3
Industry
1.7
vs History
92
vs Industry
43
Median 3Y
2.1
Median 5Y
3.3
Industry
1.5
Forward
1.4
vs History
92
vs Industry
62
Median 3Y
2.1
Median 5Y
3.3
Industry
3.3
vs History
57
vs Industry
23
Median 3Y
11.2
Median 5Y
16
Industry
8.8
Forward
10.3
vs History
3
vs Industry
12
Median 3Y
16.4
Median 5Y
20.4
Industry
12.3
Forward
17.1
vs History
61
vs Industry
23
Median 3Y
14.8
Median 5Y
19.3
Industry
10.6
vs History
15
vs Industry
12
Median 3Y
30.2
Median 5Y
27
Industry
13.7
vs History
95
vs Industry
50
Median 3Y
2.7
Median 5Y
3.7
Industry
1.4

Multiples Across Competitors

Competitors Multiples
NCSOFT Corp Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
KR
NCSOFT Corp
KRX:036570
3.6T KRW 2.2 18.3 13.3 40.4
US
Activision Blizzard Inc
LSE:0H8X
74.1B USD 8.5 34.2 24.6 28.9
JP
Nintendo Co Ltd
TSE:7974
8.8T JPY 6.1 22.6 16 16.7
CN
NetEase Inc
NASDAQ:NTES
50.3B USD 3.3 12.4 7.8 8.5
SG
Sea Ltd
NYSE:SE
46.6B USD 3.2 -232.3 111.6 -1 515.5
US
Electronic Arts Inc
NASDAQ:EA
38.6B USD 5.3 33.6 20.2 25.6
US
Roblox Corp
NYSE:RBLX
29.7B USD 9.4 -27.5 -28.8 -23.6
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
26.6B USD 4.9 -7 39.1 -76
JP
Nexon Co Ltd
TSE:3659
2.2T JPY 5.1 32.2 11.9 12.7
JP
Konami Holdings Corp
TSE:9766
1.8T JPY 4.9 28.3 14.4 18.4
KR
Krafton Inc
KRX:259960
15.4T KRW 6.5 17.2 10.9 12.1
P/E Multiple
Earnings Growth
KR
NCSOFT Corp
KRX:036570
Average P/E: 24.8
18.3
29%
US
A
Activision Blizzard Inc
LSE:0H8X
34.2
151%
JP
Nintendo Co Ltd
TSE:7974
22.6
-4%
CN
NetEase Inc
NASDAQ:NTES
12.4
34%
SG
Sea Ltd
NYSE:SE
Negative Multiple: -232.3
1 129%
US
Electronic Arts Inc
NASDAQ:EA
33.6
98%
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -27.5 N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
Negative Multiple: -7 N/A
JP
N
Nexon Co Ltd
TSE:3659
32.2
115%
JP
Konami Holdings Corp
TSE:9766
28.3
39%
KR
Krafton Inc
KRX:259960
17.2
80%
EV/EBIT Multiple
EBIT Growth
KR
NCSOFT Corp
KRX:036570
Average EV/EBIT: 20.4
40.4
122%
US
A
Activision Blizzard Inc
LSE:0H8X
28.9
153%
JP
Nintendo Co Ltd
TSE:7974
16.7
N/A
CN
NetEase Inc
NASDAQ:NTES
8.5
48%
SG
Sea Ltd
NYSE:SE
Negative Multiple: -1 515.5
477%
US
Electronic Arts Inc
NASDAQ:EA
25.6
82%
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -23.6 N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
Negative Multiple: -76 N/A
JP
N
Nexon Co Ltd
TSE:3659
12.7
N/A
JP
Konami Holdings Corp
TSE:9766
18.4
N/A
KR
Krafton Inc
KRX:259960
12.1
46%

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