(WBTN) WEBTOON Entertainment - Overview
Sector: Communication Services | Industry: Internet Content & Information | Exchange: NASDAQ (USA) | Market Cap: 1.647m USD | Total Return: 35.1% in 12m
Avg Turnover: 3.94M
Qual. Beats: 0
Rev. Trend: 93.3%
Qual. Beats: -1
Warnings
Interest Coverage Ratio -4760.0 is critical
Altman Z'' -3.91 < 1.0 - financial distress zone
Fakeout
Tailwinds
No distinct edge detected
WEBTOON Entertainment Inc. (WBTN) operates a global digital storytelling platform focused on serialized web-comics and web-novels. Headquartered in Los Angeles and operating as a subsidiary of NAVER Corporation, the company facilitates content creation and distribution across major markets including South Korea, Japan, and the United States.
The business model relies on a multi-pronged revenue strategy involving paid content micro-transactions, digital advertising, and the licensing of intellectual property for film and television adaptations. As a participant in the Interactive Media & Services sub-industry, the company leverages a platform-based ecosystem where user-generated content drives engagement and reduces traditional publishing overhead.
The digital comics sector has shifted significantly toward vertical scroll formats specifically optimized for mobile device consumption. You can further analyze the companys valuation and growth metrics on ValueRay. WEBTOON Entertainment continues to focus on expanding its IP library to feed global streaming demand.
- Paid content conversion rates and average revenue per active user drive top-line growth
- Intellectual property adaptations for film and television diversify revenue streams beyond digital reading
- High reliance on Naver Corporation for infrastructure and content distribution affects operational independence
- Expansion into North American and European markets increases marketing and user acquisition costs
| Net Income: -333.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 2.31 > 1.0 |
| NWC/Revenue: 39.06% < 20% (prev 37.70%; Δ 1.36% < -1%) |
| CFO/TA 0.01 > 3% & CFO 18.0m > Net Income -333.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.72 > 1.5 & < 3 |
| Outstanding Shares: last quarter (133.6m) vs 12m ago 3.10% < -2% |
| Gross Margin: 24.21% > 18% (prev 0.24%; Δ 2.40k% > 0.5%) |
| Asset Turnover: 78.05% > 50% (prev 69.57%; Δ 8.49% > 0%) |
| Interest Coverage Ratio: -4.76k > 6 (EBITDA TTM -341.0m / Interest Expense TTM 79.0k) |
| A: 0.34 (Total Current Assets 851.0m - Total Current Liabilities 312.8m) / Total Assets 1.59b |
| B: -0.54 (Retained Earnings -862.6m / Total Assets 1.59b) |
| C: -0.21 (EBIT TTM -376.0m / Avg Total Assets 1.77b) |
| D: -2.79 (Book Value of Equity -999.6m / Total Liabilities 358.5m) |
| Altman-Z'' = -3.91 = D |
| DSRI: 1.03 (Receivables 182.8m/173.7m, Revenue 1.38b/1.35b) |
| GMI: 1.01 (GM 24.21% / 24.37%) |
| AQI: 0.80 (AQ_t 0.45 / AQ_t-1 0.56) |
| SGI: 1.02 (Revenue 1.38b / 1.35b) |
| TATA: -0.22 (NI -333.0m - CFO 18.0m) / TA 1.59b) |
| Beneish M = -3.33 (Cap -4..+1) = AA |
As of May 30, 2026, the stock is trading at USD 12.29 with a total of 381,574 shares traded.
Over the past week, the price has changed by +0.74%,
over one month by +0.16%,
over three months by +9.24% and
over the past year by +35.05%.
WEBTOON Entertainment has received a consensus analysts rating of 4.30. Therefore, it is recommended to buy WBTN.
- StrongBuy: 6
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 12.3 | 0% |
P/S = 1.1954
P/B = 1.3984
Revenue TTM = 1.38b USD
EBIT TTM = -376.0m USD
EBITDA TTM = -341.0m USD
Long Term Debt = 11.7m USD (estimated: total debt 20.4m - short term 8.68m)
Short Term Debt = 8.68m USD (from shortTermDebt, last quarter)
Debt = 20.4m USD (from shortLongTermDebtTotal, last quarter) (leases 20.4m already included)
Net Debt = -574.5m USD (calculated: Debt 20.4m - CCE 594.9m)
Enterprise Value = 1.07b USD (1.65b + Debt 20.4m - CCE 594.9m)
Interest Coverage Ratio = -4.76k (Ebit TTM -376.0m / Interest Expense TTM 79.0k)
EV/FCF = 137.7x (Enterprise Value 1.07b / FCF TTM 7.79m)
FCF Yield = 0.73% (FCF TTM 7.79m / Enterprise Value 1.07b)
FCF Margin = 0.57% (FCF TTM 7.79m / Revenue TTM 1.38b)
Net Margin = -24.17% (Net Income TTM -333.0m / Revenue TTM 1.38b)
Gross Margin = 24.21% ((Revenue TTM 1.38b - Cost of Revenue TTM 1.04b) / Revenue TTM)
Gross Margin QoQ = 25.88% (prev 24.35%)
Tobins Q-Ratio = 0.67 (Enterprise Value 1.07b / Total Assets 1.59b)
Interest Expense / Debt = 0.39% (Interest Expense 79.0k / Debt 20.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -297.1m (EBIT -376.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.72 (Total Current Assets 851.0m / Total Current Liabilities 312.8m)
Debt / Equity = 0.02 (Debt 20.4m / totalStockholderEquity, last quarter 1.18b)
Debt / EBITDA = 1.68 (negative EBITDA) (Net Debt -574.5m / EBITDA -341.0m)
Debt / FCF = -73.75 (Net Debt -574.5m / FCF TTM 7.79m)
Total Stockholder Equity = 1.34b (last 4 quarters mean from totalStockholderEquity)
RoA = -18.86% (Net Income -333.0m / Total Assets 1.59b)
RoE = -15.14% (Net Income TTM -333.0m / Total Stockholder Equity 2.20b)
RoCE = -17.01% (EBIT -376.0m / Capital Employed (Equity 2.20b + L.T.Debt 11.7m))
RoIC = -27.71% (negative operating profit) (NOPAT -297.1m / Invested Capital 1.07b)
WACC = 10.95% (E(1.65b)/V(1.67b) * Re(11.08%) + D(20.4m)/V(1.67b) * Rd(0.39%) * (1-Tc(0.21)))
Discount Rate = 11.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 67.42 | Cagr: 2.26%
[DCF] Terminal Value 66.90% ; FCFF base≈7.79m ; Y1≈7.82m ; Y5≈8.29m
[DCF] Fair Price = 4.91 (EV 89.4m - Net Debt -574.5m = Equity 663.9m / Shares 135.2m; r=10.95% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.09 | # QB: 0
Revenue Correlation: 93.25 | Revenue CAGR: 5.42% | SUE: -1.71 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.01 | Chg30d=-90.91% | Revisions=-20% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.06 | Chg30d=-21.43% | Revisions=-20% | Analysts=2
EPS current Year (2026-12-31): EPS=0.13 | Chg30d=-18.75% | Revisions=-20% | GrowthEPS=-13.3% | GrowthRev=+2.1%
EPS next Year (2027-12-31): EPS=0.33 | Chg30d=-7.14% | Revisions=-20% | GrowthEPS=+150.0% | GrowthRev=+12.2%
[Analyst] Revisions Ratio: -20%