(WBTN) WEBTOON Entertainment - Overview

Sector: Communication Services | Industry: Internet Content & Information | Exchange: NASDAQ (USA) | Market Cap: 1.378m USD | Total Return: 37.5% in 12m

Web-Comics, Web-Novels, Hosting, Mobile, Application

Total Rating 32

Safety 37

Buy Signal -0.42

Internet Content & Information
Industry Rotation: -6.7

Market Cap: 1.38B
Avg Turnover: 2.84M USD

ATR: 4.70%
Peers RS (IBD): 69.4

Risk 5d forecast

Volatility77.2%

Rel. Tail Risk-22.8%

Reward TTM

Sharpe Ratio0.70

Alpha7.94

Character TTM

Beta1.346

Beta Downside0.992

Drawdowns 3y

Max DD70.57%

CAGR/Max DD-0.48

EPS (Earnings per Share)

EPS CAGR: -96.40%
EPS Trend: -62.5%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 9.81%
Rev. Trend: 83.0%

Last SUE: -0.83
Qual. Beats: 0

Warnings

High Debt/EBITDA (49.2) with thin interest coverage (-730.8)

Interest Coverage Ratio -730.8 is critical

Altman Z'' -2.58 < 1.0 - financial distress zone

Volatile

Tailwinds

No distinct edge detected

Description: WBTN WEBTOON Entertainment

WEBTOON Entertainment Inc. (NASDAQ: WBTN) operates a global storytelling platform that lets creators publish and users consume web-comics and web-novels across the United States, Korea, Japan, and other markets. Founded in 2005 and headquartered in Los Angeles, the company is a subsidiary of South-Korea’s NAVER Corporation and falls under the Interactive Media & Services sub-industry.

In Q4 2025 the platform reported 115 million monthly active users (MAU), a 12 % year-over-year increase driven by strong mobile engagement in Southeast Asia and the rollout of AI-assisted content recommendation. Revenue rose to $212 million, with ad-supported impressions up 18 % and subscription revenue (WEBTOON Canvas Premium) contributing 22 % of total sales. The company’s operating margin improved to 14 % as cost efficiencies from its cloud-based hosting infrastructure took effect.

Growth in the digital comics sector is being propelled by rising global consumption of mobile entertainment, expanding creator monetization tools, and increasing licensing deals for IP adaptation into games and streaming series. These macro trends, combined with WEBTOON’s expanding creator ecosystem, position the firm to capture additional market share.

For a deeper dive, check ValueRay’s analyst notes on WBTN.

Headlines to Watch Out For

Subscription growth drives revenue expansion
Advertising revenue fluctuates with user engagement
Creator compensation impacts profitability
International expansion broadens market reach
Content licensing agreements boost intellectual property value

Piotroski VR‑10 (Strict) 3.0

Net Income: -346.0m TTM > 0 and > 6% of Revenue
FCF/TA: 0.00 > 0.02 and ΔFCF/TA -0.02 > 1.0
NWC/Revenue: 37.07% < 20% (prev 38.80%; Δ -1.72% < -1%)
CFO/TA 0.01 > 3% & CFO 11.2m > Net Income -346.0m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 2.61 > 1.5 & < 3
Outstanding Shares: last quarter (130.6m) vs 12m ago 1.53% < -2%
Gross Margin: 23.30% > 18% (prev 0.25%; Δ 2.30k% > 0.5%)
Asset Turnover: 78.32% > 50% (prev 69.68%; Δ 8.64% > 0%)
Interest Coverage Ratio: -730.8 > 6 (EBITDA TTM -11.3m / Interest Expense TTM 64.0k)

Altman Z'' -2.58

A: 0.32 (Total Current Assets 831.2m - Total Current Liabilities 318.6m) / Total Assets 1.60b
B: -0.53 (Retained Earnings -853.1m / Total Assets 1.60b)
C: -0.03 (EBIT TTM -46.8m / Avg Total Assets 1.77b)
D: -2.63 (Book Value of Equity -967.5m / Total Liabilities 367.2m)
Altman-Z'' Score: -2.58 = D

Beneish M -3.26

DSRI: 1.02 (Receivables 176.8m/169.2m, Revenue 1.38b/1.35b)
GMI: 1.08 (GM 23.30% / 25.14%)
AQI: 0.82 (AQ_t 0.46 / AQ_t-1 0.56)
SGI: 1.03 (Revenue 1.38b / 1.35b)
TATA: -0.22 (NI -346.0m - CFO 11.2m) / TA 1.60b)
Beneish M-Score: -3.26 (Cap -4..+1) = AA

What is the price of WBTN shares? As of April 13, 2026, the stock is trading at USD 11.12 with a total of 265,800 shares traded.
Over the past week, the price has changed by +12.32%, over one month by +23.42%, over three months by -19.42% and over the past year by +37.45%.

Is WBTN a buy, sell or hold? 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

What are the forecasts/targets for the WBTN price?

Analysts Target Price	12.2	9.8%

WEBTOON Entertainment (WBTN) - Fundamental Data Overview as of 09 April 2026

P/S = 0.9963
P/B = 1.1119
Revenue TTM = 1.38b USD
EBIT TTM = -46.8m USD
EBITDA TTM = -11.3m USD
Long Term Debt = 23.7m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 9.62m USD (from shortTermDebt, last quarter)
Debt = 23.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -558.1m USD (from netDebt column, last quarter)
Enterprise Value = 819.4m USD (1.38b + Debt 23.7m - CCE 581.8m)
Interest Coverage Ratio = -730.8 (Ebit TTM -46.8m / Interest Expense TTM 64.0k)
EV/FCF = 227.8x (Enterprise Value 819.4m / FCF TTM 3.60m)
FCF Yield = 0.44% (FCF TTM 3.60m / Enterprise Value 819.4m)
FCF Margin = 0.26% (FCF TTM 3.60m / Revenue TTM 1.38b)
Net Margin = -25.02% (Net Income TTM -346.0m / Revenue TTM 1.38b)
Gross Margin = 23.30% ((Revenue TTM 1.38b - Cost of Revenue TTM 1.06b) / Revenue TTM)
Gross Margin QoQ = 24.35% (prev 21.90%)
Tobins Q-Ratio = 0.51 (Enterprise Value 819.4m / Total Assets 1.60b)
Interest Expense / Debt = 0.21% (Interest Expense 50.0k / Debt 23.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = -36.9m (EBIT -46.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.61 (Total Current Assets 831.2m / Total Current Liabilities 318.6m)
Debt / Equity = 0.02 (Debt 23.7m / totalStockholderEquity, last quarter 1.17b)
Debt / EBITDA = 49.22 (negative EBITDA) (Net Debt -558.1m / EBITDA -11.3m)
Debt / FCF = -155.2 (out of range, set to none) (Net Debt -558.1m / FCF TTM 3.60m)
Total Stockholder Equity = 1.41b (last 4 quarters mean from totalStockholderEquity)
RoA = -19.60% (Net Income -346.0m / Total Assets 1.60b)
RoE = -24.56% (Net Income TTM -346.0m / Total Stockholder Equity 1.41b)
RoCE = -3.26% (EBIT -46.8m / Capital Employed (Equity 1.41b + L.T.Debt 23.7m))
RoIC = -2.62% (negative operating profit) (NOPAT -36.9m / Invested Capital 1.41b)
WACC = 10.54% (E(1.38b)/V(1.40b) * Re(10.72%) + D(23.7m)/V(1.40b) * Rd(0.21%) * (1-Tc(0.21)))
Discount Rate = 10.72% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.36%
[DCF] Terminal Value 60.09% ; FCFF base≈4.05m ; Y1≈2.66m ; Y5≈1.22m
[DCF] Fair Price = 4.31 (EV 16.8m - Net Debt -558.1m = Equity 574.9m / Shares 133.5m; r=10.54% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -62.52 | EPS CAGR: -96.40% | SUE: -4.0 | # QB: 0
Revenue Correlation: 83.03 | Revenue CAGR: 9.81% | SUE: -0.83 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.06 | Chg7d=-0.015 | Chg30d=-0.015 | Revisions Net=-1 | Analysts=2
EPS current Year (2026-12-31): EPS=0.16 | Chg7d=-0.190 | Chg30d=-0.190 | Revisions Net=-1 | Growth EPS=+6.7% | Growth Revenue=+5.5%
EPS next Year (2027-12-31): EPS=0.35 | Chg7d=+0.350 | Chg30d=+0.350 | Revisions Net=+0 | Growth EPS=+118.8% | Growth Revenue=+12.0%
[Analyst] Revisions Ratio: -1.00 (0 Up / 1 Down within 30d for Next Quarter)

External Resources

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