GRVY Stock Analysis: Gravity | NASDAQ
Electronic Gaming & Multimedia | NASDAQ, USA | Market Cap: 468m USD | 12M Return: 0.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.92M
EPS Trend: -84.7%
Rev. Trend: 48.0%
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Gravity Co., Ltd. is a Seoul-based developer and publisher of online and mobile games, founded in 2000 and listed on NASDAQ under the ticker GRVY. The company is a subsidiary of Japanese gaming firm GungHo Online Entertainment, Inc., and operates within the Interactive Home Entertainment sub-industry of the Communication Services sector. Its core business revolves around the long-running Ragnarok franchise, which spans multiple platforms including MMORPGs (Ragnarok Online and its sequels), mobile titles (such as Ragnarok M: Eternal Love and Ragnarok Origin), and console releases across Nintendo, PlayStation, and Xbox systems.
Beyond game development, Gravity generates revenue from related IP licensing and merchandise, including character-based dolls, stationery, food products, game manuals, and monthly magazines, as well as system development, maintenance, and integration services for third parties. The company distributes titles through multiple digital storefronts including Steam and Stove, and also produces games for IPTV and web-browser platforms, reflecting the diversified, multi-platform monetization model typical of Asian gaming publishers that combine free-to-play mobile titles with console and PC releases.
- Ragnarok mobile franchise drives majority of quarterly revenue
- Korean won volatility impacts dollar-reported earnings and margins
- GungHo parent capital returns and dividend policy support valuation
| Net Income: 37.0b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -0.76 > 1.0 |
| NWC/Revenue: 176.9% < 20% (prev 119.1%; Δ 57.86% < -1%) |
| CFO/TA 0.10 > 3% & CFO 77.1b > Net Income 37.0b |
| Net Debt (-593b) to EBITDA (55.0b): -10.78 < 3 |
| Current Ratio: 6.56 > 1.5 & < 3 |
| Outstanding Shares: last quarter (6.95m) vs 12m ago 0.0% < -2% |
| Gross Margin: 34.58% > 18% (prev 38.30%; Δ -3.72% > 0.5%) |
| Asset Turnover: 46.25% > 50% (prev 67.69%; Δ -21.43% > 0%) |
| Interest Coverage Ratio: 156.8 > 6 (EBIT TTM 44.2b / Interest Expense TTM 282.0m) |
| A: 0.78 (Total Current Assets 717b - Total Current Liabilities 109b) / Total Assets 781b |
| B: 0.77 (Retained Earnings 601b / Total Assets 781b) |
| C: 0.06 (EBIT TTM 44.2b / Avg Total Assets 742b) |
| D: 5.61 (Book Value of Equity 663b / Total Liabilities 118b) |
| Altman-Z'' = 13.90 = AAA |
| DSRI: 1.55 (Receivables 85.8b/76.6b, Revenue 343b/476b) |
| GMI: 1.11 (GM 38.30% / 34.58%) |
| AQI: 2.16 (AQ_t 0.07 / AQ_t-1 0.03) |
| SGI: 0.72 (Revenue 343b / 476b) |
| TATA: -0.05 (NI 37.0b - CFO 77.1b) / TA 781b) |
| Beneish M = -1.99 (Cap -4..+1) = B |
As of July 04, 2026, the stock is trading at USD 65.58 with a total of 98,100 shares traded. Over the past week, the price has changed by -1.86%, over one month by +5.43%, over three months by +6.81% and over the past year by +0.74%.
Current recommended Stop Loss: 61.60 (which is 6.1% or 1.3 ATR below the current price).
Gravity has no consensus analysts rating.
Market Cap KRW = 723b (467.6m USD * 1546.5 USD.KRW)
P/E Trailing = 9.6542
P/E Forward = 9.2251
P/S = 0.0008
P/B = 1.0738
Revenue TTM = 343b KRW
EBIT TTM = 44.2b KRW
EBITDA TTM = 55.0b KRW
Long Term Debt = 5.73b KRW (estimated: total debt 9.55b - short term 3.82b)
Short Term Debt = 3.82b KRW (from shortTermDebt, last quarter)
Debt = 9.55b KRW (from shortLongTermDebtTotal, last quarter)
Net Debt = -593b KRW (calculated: Debt 9.55b - CCE 603b)
Enterprise Value = 130b KRW (723b + Debt 9.55b - CCE 603b)
Interest Coverage Ratio = 156.8 (Ebit TTM 44.2b / Interest Expense TTM 282.0m)
EV/FCF = 1.71x (Enterprise Value 130b / FCF TTM 76.1b)
FCF Yield = 58.50% (FCF TTM 76.1b / Enterprise Value 130b)
FCF Margin = 22.16% (FCF TTM 76.1b / Revenue TTM 343b)
Net Margin = 10.79% (Net Income TTM 37.0b / Revenue TTM 343b)
Gross Margin = 34.58% ((Revenue TTM 343b - Cost of Revenue TTM 225b) / Revenue TTM)
Gross Margin QoQ = 31.91% (prev 34.57%)
Tobins Q-Ratio = 0.17 (Enterprise Value 130b / Total Assets 781b)
Interest Expense / Debt = 2.95% (Interest Expense 282.0m / Debt 9.55b)
Taxrate = 27.48% (14.0b / 50.8b)
NOPAT = 32.1b (EBIT 44.2b * (1 - 27.48%))
Current Ratio = 6.56 (Total Current Assets 717b / Total Current Liabilities 109b)
Debt / Equity = 0.01 (Debt 9.55b / totalStockholderEquity, last quarter 663b)
Debt / EBITDA = -10.78 (Net Debt -593b / EBITDA 55.0b)
Debt / FCF = -7.80 (Net Debt -593b / FCF TTM 76.1b)
Total Stockholder Equity = 629b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.99% (Net Income 37.0b / Total Assets 781b)
RoE = 5.89% (Net Income TTM 37.0b / Total Stockholder Equity 629b)
RoCE = 6.96% (EBIT 44.2b / Capital Employed (Equity 629b + L.T.Debt 5.73b))
RoIC = 4.87% (NOPAT 32.1b / Invested Capital 659b)
WACC = 7.77% (E(723b)/V(733b) * Re(7.84%) + D(9.55b)/V(733b) * Rd(2.95%) * (1-Tc(0.27)))
Discount Rate = 7.84% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 37.27 | Cagr: 0.00%
[DCF] Terminal Value 75.84% ; FCFF base≈75.2b ; Y1≈77.4b ; Y5≈86.2b
[DCF] Fair Price = 277k (EV 1334b - Net Debt -593b = Equity 1927b / Shares 6.95m; r=8.35% [WACC [floored]]; 5y FCF grow 3.06% → 2.50% )
[DCF] Fair Price = 277k (out of range, set to none)
EPS Correlation: -84.67 | EPS CAGR: -19.19% | SUE: N/A | # QB: 0
Revenue Correlation: 48.02 | Revenue CAGR: 18.05% | SUE: N/A | # QB: 0