NCSOFT Corp
KRX:036570
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EV/EBITDA
Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.
Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.
Valuation Scenarios
If EV/EBITDA returns to its 3-Year Average (11.3), the stock would be worth ₩84 581.12 (69% downside from current price).
| Scenario | EV/EBITDA Value | Implied Price | Upside/Downside |
|---|---|---|---|
| Current Multiple | 36.8 | ₩275 000 |
0%
|
| 3-Year Average | 11.3 | ₩84 581.12 |
-69%
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| 5-Year Average | 12.1 | ₩90 413.7 |
-67%
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| Industry Average | 8.8 | ₩66 046 |
-76%
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| Country Average | 8.5 | ₩63 908.15 |
-77%
|
Forward EV/EBITDA
Today’s price vs future ebitda
| Today's Enterprise Value | EBITDA | Forward EV/EBITDA | ||
|---|---|---|---|---|
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₩3.1T
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/ |
Jan 2026
₩111.7B
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= |
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₩3.1T
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/ |
Dec 2026
₩455.5B
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= |
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₩3.1T
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/ |
Dec 2027
₩518.5B
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= |
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₩3.1T
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/ |
Dec 2028
₩532.8B
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= |
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Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.
Peer Comparison
| Market Cap | EV/EBITDA | P/E | ||||
|---|---|---|---|---|---|---|
| KR |
|
NCSOFT Corp
KRX:036570
|
5.9T KRW | 36.8 | 17.1 | |
| US |
A
|
Activision Blizzard Inc
LSE:0H8X
|
74.1B USD | 24.6 | 34.2 | |
| CN |
|
NetEase Inc
NASDAQ:NTES
|
73B USD | 8.7 | 14.4 | |
| JP |
|
Nintendo Co Ltd
TSE:7974
|
9.6T JPY | 20.7 | 23.9 | |
| US |
|
Electronic Arts Inc
NASDAQ:EA
|
50.7B USD | 37.5 | 74.5 | |
| SG |
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Sea Ltd
NYSE:SE
|
47.2B USD | 15.7 | 28.9 | |
| US |
|
Roblox Corp
NYSE:RBLX
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42.2B USD | -37.3 | -36.8 | |
| US |
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Take-Two Interactive Software Inc
NASDAQ:TTWO
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40.4B USD | 39.9 | -9.8 | |
| CN |
Z
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Zhejiang Century Huatong Group Co Ltd
SZSE:002602
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125.1B CNY | 20.3 | 33.2 | |
| JP |
|
Konami Holdings Corp
TSE:9766
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2.7T JPY | 16.7 | 31.8 | |
| JP |
N
|
Nexon Co Ltd
TSE:3659
|
2.1T JPY | 9.8 | 23.3 |
Market Distribution
| Min | 0 |
| 30th Percentile | 5.3 |
| Median | 8.5 |
| 70th Percentile | 15.6 |
| Max | 24 013.5 |
Other Multiples
NCSOFT Corp
Glance View
NCSOFT Corporation, founded in 1997 by Taek Jin Kim, embarked on its journey in South Korea's burgeoning online gaming market, a sector poised for exponential growth due to the nation's nascent broadband infrastructure. The company quickly rose to prominence with its landmark debut, "Lineage," an online role-playing game that captivated audiences with its immersive world and engaging mechanics. This game not only set the stage for NCSOFT's dominance in the massively multiplayer online role-playing game (MMORPG) genre but also established a business model predicated on microtransactions, monthly subscriptions, and in-game purchases, which became a lucrative revenue stream as the gaming community expanded globally. Their early success laid a strong foundation, which the company would build upon over the years by diversifying its portfolio with other popular titles like "Guild Wars," "Aion," and "Blade & Soul." Today, NCSOFT’s operations extend beyond game development into the broader realms of digital gaming platforms and publishing. The company leverages its expertise to operate and maintain game servers, ensuring seamless experiences for millions of players worldwide. Furthermore, NCSOFT has adapted to modern gaming trends, incorporating mobile gaming into its repertoire, as seen through ventures such as "Lineage M" and "Blade & Soul Revolution." By continuously enhancing its technological capabilities and focusing on both user engagement and operational efficiency, NCSOFT maintains its competitive edge in the fast-paced gaming industry. With a firm footing in major gaming markets, the company monetizes its offerings through a mix of direct sales, digital content, and a robust free-to-play model, ensuring a steady flow of revenue while nurturing an ever-growing community of gamers.
