(GRVY) Gravity - Ratings and Ratios

Exchange: NASDAQ • Country: South Korea • Currency: USD • Type: Common Stock • ISIN: US38911N2062

MMORPG, Mobile, Console, Merchandise, Services

Interactive Home Entertainment
Market Cap in USD: 400m

IPO / Inception: 2005-02-08
12m vs SPY: -15.3%

EPS (Earnings per Share)

EPS CAGR: 41.58%
EPS Trend: 40.9%

Qual. Beats: 0

Revenue

Rev. CAGR: 10.17%
Rev. Trend: 50.0%

Qual. Beats: 0

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	21.9%
Value at Risk 5%th	32.3%
Relative Tail Risk	-10.35%

Reward TTM
Sharpe Ratio	0.07
Alpha	-8.28
CAGR/Max DD	0.21

Character TTM
Hurst Exponent	0.337
Beta	0.507
Beta Downside	0.402

Drawdowns 3y
Max DD	38.93%
Mean DD	20.10%
Median DD	20.95%

Description: GRVY Gravity December 28, 2025

Gravity Co., Ltd. (NASDAQ: GRVY) creates and publishes a broad portfolio of online and mobile games, anchored by the long-running “Ragnarok” franchise (e.g., Ragnarok Online, Ragnarok M, Ragnarok Origin). Its catalogue spans MMO titles, mobile casual games, console releases for platforms such as Nintendo Switch and PlayStation, and even IPTV and merchandise lines, positioning the firm as a diversified interactive-entertainment studio headquartered in Seoul, South Korea.

In FY 2023 the company reported approximately $215 million in revenue, with mobile games contributing roughly 68 % of total sales-a pattern that mirrors the industry-wide shift toward free-to-play, in-app-purchase models. User-engagement metrics show an average monthly active user (MAU) base of about 12 million across its flagship titles, while the broader Asian mobile gaming market is projected to grow at a 9 % CAGR through 2027, providing a tailwind for Gravity’s expansion plans. Additionally, the firm’s exposure to currency fluctuations (KRW/USD) and reliance on third-party platform fees (e.g., Apple, Google) remain material risk factors.

For a deeper quantitative view, you might explore ValueRay’s analyst dashboard.

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (78.25b TTM) > 0 and > 6% of Revenue (6% = 34.61b TTM)

FCFTA 0.10 (>2.0%) and ΔFCFTA -10.19pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 103.3% (prev 101.6%; Δ 1.73pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.11 (>3.0%) and CFO 78.56b > Net Income 78.25b (YES >=105%, WARN >=100%)

Net Debt (-197.35b) to EBITDA (79.90b) ratio: -2.47 <= 3.0 (WARN <= 3.5)

Current Ratio 6.87 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (6.95m) change vs 12m ago 0.0% (target <= -2.0% for YES)

Gross Margin 35.68% (prev 36.73%; Δ -1.05pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 85.13% (prev 80.82%; Δ 4.31pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 2.51 (EBITDA TTM 79.90b / Interest Expense TTM 20.03b) >= 6 (WARN >= 3)

Altman Z'' 13.88

(A) 0.82 = (Total Current Assets 697.32b - Total Current Liabilities 101.44b) / Total Assets 730.85b

(B) 0.78 = Retained Earnings (Balance) 568.57b / Total Assets 730.85b

(D) 5.24 = Book Value of Equity 572.04b / Total Liabilities 109.25b

Total Rating: 13.88 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 62.21

1. Piotroski 4.0pt

2. FCF Yield data missing

3. FCF Margin 12.79%

4. Debt/Equity 0.01

5. Debt/Ebitda -2.47

6. ROIC - WACC (= -1.50)%

7. RoE 13.18%

8. Rev. Trend 49.96%

9. EPS Trend 40.86%

What is the price of GRVY shares?

As of January 16, 2026, the stock is trading at USD 62.52 with a total of 10,117 shares traded.
Over the past week, the price has changed by +8.22%, over one month by +10.37%, over three months by +5.53% and over the past year by +0.11%.

Is GRVY a buy, sell or hold?

Gravity has no consensus analysts rating.

What are the forecasts/targets for the GRVY price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	-	-
Analysts Target Price	-	-
ValueRay Target Price	61.5	-1.6%

GRVY Fundamental Data Overview January 10, 2026

Market Cap KRW = 586.90b (399.6m USD * 1468.6 USD.KRW)
P/E Trailing = 7.392
P/S = 0.0007
P/B = 0.932
Revenue TTM = 576.82b KRW
EBIT TTM = 50.35b KRW
EBITDA TTM = 79.90b KRW
Long Term Debt = unknown (none)
Short Term Debt = 3.18b KRW (from shortTermDebt, last fiscal year)
Debt = 7.12b KRW (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -197.35b KRW (from netDebt column, last quarter)
Enterprise Value = -20.07b KRW (586.90b + Debt 7.12b - CCE 614.09b)
Interest Coverage Ratio = 2.51 (Ebit TTM 50.35b / Interest Expense TTM 20.03b)
EV/FCF = -0.27x (Enterprise Value -20.07b / FCF TTM 73.79b)
FCF Yield = -367.8% (FCF TTM 73.79b / Enterprise Value -20.07b)
FCF Margin = 12.79% (FCF TTM 73.79b / Revenue TTM 576.82b)
Net Margin = 13.57% (Net Income TTM 78.25b / Revenue TTM 576.82b)
Gross Margin = 35.68% ((Revenue TTM 576.82b - Cost of Revenue TTM 371.01b) / Revenue TTM)
Gross Margin QoQ = 36.25% (prev 33.23%)
Tobins Q-Ratio = -0.03 (set to none) (Enterprise Value -20.07b / Total Assets 730.85b)
Interest Expense / Debt = 50.76% (Interest Expense 3.62b / Debt 7.12b)
Taxrate = 27.06% (7.36b / 27.21b)
NOPAT = 36.73b (EBIT 50.35b * (1 - 27.06%))
Current Ratio = 6.87 (Total Current Assets 697.32b / Total Current Liabilities 101.44b)
Debt / Equity = 0.01 (Debt 7.12b / totalStockholderEquity, last quarter 620.97b)
Debt / EBITDA = -2.47 (Net Debt -197.35b / EBITDA 79.90b)
Debt / FCF = -2.67 (Net Debt -197.35b / FCF TTM 73.79b)
Total Stockholder Equity = 593.70b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.55% (Net Income 78.25b / Total Assets 730.85b)
RoE = 13.18% (Net Income TTM 78.25b / Total Stockholder Equity 593.70b)
RoCE = 8.00% (EBIT 50.35b / Capital Employed (Total Assets 730.85b - Current Liab 101.44b))
RoIC = 6.19% (NOPAT 36.73b / Invested Capital 593.70b)
WACC = 7.69% (E(586.90b)/V(594.02b) * Re(7.78%) + (debt cost/tax rate unavailable))
Discount Rate = 7.78% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 81.65 | Cagr: 0.00%
[DCF Debug] Terminal Value 71.68% ; FCFF base≈94.93b ; Y1≈62.32b ; Y5≈28.43b
Fair Price DCF = 113.1k (EV 588.80b - Net Debt -197.35b = Equity 786.15b / Shares 6.95m; r=7.69% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: 40.86 | EPS CAGR: 41.58% | SUE: N/A | # QB: 0
Revenue Correlation: 49.96 | Revenue CAGR: 10.17% | SUE: N/A | # QB: 0

Additional Sources for GRVY Stock

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