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Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy
Sell
Insider Ownership
0.13%

Capital & Financial Ratios

Market Cap
493.52
Revenue
386.79
Net Income
47.12
Free Cash Flow
268.67
Net Debt
(422.71)
Current Ratio
7.20
Debt/Equity
0.00
P/E ratio
8.51
P/S ratio
1.25
P/B ratio
1.07
Past 5Y EPS Growth
12.74%
This Y EPS Growth
Next Y EPS Growth
Next 5Y EPS Growth
in millions of $

Dividends

Payout Ratio
0.00
Annual Dividend Rate
Annual Dividend Yield
total individual payouts
2020 ‡‡‡
2019 ‡‡‡
2018 ‡‡‡
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 372.59 391.86 436.08 422.72
Receivables 59.88 57.91 41.46 50.08
Inventory
Other 2.66 2.08 1.79 1.35
437.52 457.53 488.96 490.01
2023 2024 2025 Q'26
Payables 49.42 47.55 43.35 43.21
ST’ Debt
Other 5.86 3.36 3.76 3.59
85.15 76.05 67.22 68.05
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 106.25 104.52
’25 90.23 126.15 98.88 77.12
392.38
’24 81.24 89.33 97.63 82.40
350.59
’23 122.45 181.28 130.69 146.00
580.41
’22 67.96 74.31 71.51 110.76
324.53
’21 86.71 73.97 108.70 103.16
372.54
’20 65.02 73.68 113.03 73.02
324.76
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26
’25 53.26
53.26
’24 54.99
54.99
’23 105.94
105.94
’22 68.79
68.79
’21 66.76
66.76
’20 55.88
55.88
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26
’25 48.84
48.84
’24 51.66
51.66
’23 101.32
101.32
’22 66.85
66.85
’21 63.00
63.00
’20 52.93
52.93
in millions of $

EPS

Mar Jun Sep Dec Year
’26 2.78 2.26
’25 2.15 1.41 2.04 1.07
6.72
’24 2.87 1.31 2.45 2.33
8.55
’23 4.03 4.92 3.09 2.35
14.55
’22 1.95 1.93 1.62 3.52
9.26
’21 3.01 1.88 3.20 0.15
8.29
’20 1.09 1.57 3.10 1.94
7.65

Target Price Range

High
‡‡‡‡
‡‡‡
Average
‡‡‡‡
‡‡‡
Low
‡‡‡‡
‡‡‡

Recommendation Rating

1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 36.08 39.25 57.37 53.12
Low Price
‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 72.00 82.48 88.85 70.00
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 400 437 464 499
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.81 1.33 0.76 0.79
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 324.53 580.41 350.59 392.38
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 42.33% 33.16% 38.72% 35.02%
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 76.92 134.96 74.44 63.66
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 23.70% 23.25% 21.23% 16.22%
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 58.14 105.59 59.43 47.12
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.94 6.13 6.46 7.57
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 46.70 83.53 50.45 56.47
Revenue/Sh
‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ 9.26 14.55 8.55 6.72
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9.90 15.25 7.91 7.67
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.28) (0.67) (0.48) (0.64)
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9.62 14.58 7.43 7.03
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 33.26 53.39 57.25 64.21
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 6.95 6.95 6.95 6.95
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.65 4.66 7.04 8.68
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.90 0.80 1.25 1.02
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.19 1.35 1.14 0.98
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.13 0.22 0.18 0.01
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.22 0.44 0.23 0.02
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 68.79 105.94 54.99 53.26
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (1.95) (4.62) (3.33) (4.42)
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 66.85 101.32 51.66 48.84
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 221.24 352.37 381.47 421.74
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.72
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (233.46) (372.59) (391.86) (436.08)
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 231.13 370.98 397.85 446.16
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 19.20% 27.31% 12.61% 9.44%
ROA
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.00% 0.00% 623.50% 335.92%
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 25.65% 35.08% 15.46% 11.19%
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Gravity Co., Ltd. (GRVY), the Ragnarok Online powerhouse, exemplifies gaming’s brutal boom-bust cycles: revenue exploded 12x from $42.7 million in 2016 to a $580 million peak in 2023, driven by mobile hits like Ragnarok M in China, before cratering 40% to $350 million in 2024 amid player churn, regulatory crackdowns, and competition. Profitability dazzled with EBT margins hitting 23% and ROE at 37%, while revenue per employee peaked at $1.33 million—efficiency few firms dream of—yet EPS tumbled from $14.55 to $8.55, mirroring stock swings from 2020’s $240 highs to today’s $30-90 trading range at dirt-cheap 7x PE and sub-1x PB ratios.

What sets GRVY apart is its fortress balance sheet: zero debt, $392 million net cash, and free cash flow per share at $7.43 (87% of EPS), funding years of operations without dilution. No insider buys or sells, zero analyst targets—leaving retail speculators to bet on Ragnarok revivals amid thin coverage and dual-listed liquidity woes. This cash hoard screams undervaluation (EV/FCF at 0.23x), but gaming’s 18-month hit cycles, Asia risks, and stalled mobile growth loom large.

Cautious upside glimmers if new titles spark a rebound to $8-10 EPS (15-20% stock pop), yet prolonged slumps could revisit 2022 lows. For patient value hunters, GRVY’s a gritty pixel play—dive deeper for Q4 clues on the next boom or bust.

GRAVITY Co., Ltd. (GRVY) Latest News

News by impact score

Fine-tune

7 Aug

4 , 6:00 AM
GRAVITY Co., Ltd. released second quarter 2026 financial results and business update via 6-K filing. Quarterly earnings and business updates typically drive notable shifts in company valuation and investor sentiment.

3 investorshub.advfn.com, 10:08 AM
GRAVITY Co., Ltd. shares rise after profit growth offsets revenue decline. Earnings results produce moderate stock movement without altering long-term trajectory.

28 Jul

4 , 6:00 AM
GRAVITY's Ragnarok M: Eternal Love 2 received an ISBN code from the Chinese government. ISBN approval enables potential launch of GRAVITY's key mobile game in China's regulated market.

24 Jul

4 , 6:00 AM
GRAVITY Co., Ltd. officially launched Ragnarok Origin Classic in North, Central, and South America on July 23, 2026. Ragnarok Origin Classic launch across multiple American regions marks major product expansion for GRAVITY Co., Ltd.

17 Jul

4 , 6:00 AM
GRAVITY Co., Ltd. launched Ragnarok: Rebirth in North, Central and South America except Brazil on July 16, 2026. Regional launch of core Ragnarok title expands GRAVITY revenue base and user growth.

16 Jul

4 , 6:00 AM
GRAVITY Co., Ltd. launched Ragnarok: The New World in Southeast Asia on July 16, 2026. New Ragnarok game launch expands GRAVITY revenue streams and regional market share.

4 Jun

4 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd. will officially launch Ragnarok: Twilight Global in Europe and North, Central and South America on June 4, 2026. Major Ragnarok game launch across multiple continents will drive revenue growth and expand GRAVITY market reach.

22 May

3 PR Newswire, 6:57 AM
Gravity Game Unite launches global open beta test for Ragnarok Zero, reporting rising worldwide user participation and engagement. Ragnarok Zero global OBT increases user participation and supports near-term revenue potential for flagship IP.

8 May

3 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd. released first quarter 2026 financial results and business update via 6-K filing. Quarterly earnings results impact financial performance and market sentiment but are routine disclosures.

5 Apr

4 Benzinga, 6:01 AM
GRAVITY Co., Ltd. (GRVY) Momentum Score surges amid revenue increases, with Yoshinori Kitamura named Co-CEO. Revenue growth drives positive momentum while new Co-CEO appointment signals major strategic leadership shift.

26 Mar

4 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd. (GRVY) officially launches Ragnarok Origin Classic in Korea, Taiwan, Hong Kong, Macau, and Southeast Asia on March 26, 2026. Major Ragnarok game launch across key Asian markets boosts GRVY's revenue potential and strengthens core IP positioning.

5 Mar

4 PR Newswire, 11:56 PM
GRAVITY Co., Ltd. (GRVY) opens pre-registration on March 5 for Ragnarok Zero: Global, the first global PC server for the Ragnarok franchise. Pre-registration launch of the first global Ragnarok PC server signals major expansion of a core IP with high revenue potential.

13 Feb

4 GlobeNewswire, 6:15 AM
GRAVITY Co., Ltd. (GRVY) reported its preliminary unaudited results for the fourth quarter of 2025, highlighting key financial metrics and business updates. The company experienced notable growth in revenue and user engagement, driven by successful game launches and marketing strategies. Management expressed optimism about future prospects, emphasizing ongoing development efforts and potential expansions in the gaming market. The report reflects GRAVITY's commitment to enhancing its product offerings and maintaining a competitive edge in the industry. Significant growth in revenue and user engagement indicates a strong market position and potential for future success.

10 Feb

4 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd. (GRVY) announced the official launch of its game, Ragnarok: Twilight, in Vietnam on February 10, 2026. This launch is expected to enhance the company's presence in the Southeast Asian gaming market, tapping into the popularity of the Ragnarok franchise. The launch of a popular game in a key market is likely to significantly impact GRAVITY's future performance and market position.

25 Jan

3 Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St., 8:12 AM
GRAVITY Co., Ltd. (GRVY) is facing challenges in its capital allocation strategies, which are not aligning well with investor expectations. The company's recent decisions regarding resource distribution have raised concerns about its long-term growth potential and market competitiveness. Analysts suggest that these trends could hinder GRVY's ability to innovate and respond effectively to market demands, potentially impacting its overall financial health and stock performance. Capital allocation issues may moderately influence GRVY's financial performance and competitive positioning.

16 Jan

4 GlobeNewswire, 6:00 AM
Ragnarok: The New World, developed by GRAVITY Co., Ltd. (GRVY), has achieved the top ranking on the Apple App Store in Taiwan, Hong Kong, and Macau. This milestone highlights the game's popularity and potential for revenue generation in these markets, reflecting positively on GRAVY's market presence and brand strength. Achieving the top ranking in key markets is likely to significantly enhance GRAVITY's revenue and market positioning.

14 Jan

4 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd. announced the official launch of 'Ragnarok X: Next Generation' in France, Italy, Germany, the Middle East, Egypt, and Algeria on January 14, 2026. This expansion aims to enhance the game's global presence and attract a wider audience in these regions, contributing to the company's growth strategy. The launch in multiple key markets is expected to significantly impact GRAVITY's market presence and revenue potential.

29 Dec

3 Simply Wall St., 5:53 AM
GRAVITY Co., Ltd. (NASDAQ:GRVY) has experienced a decline in stock price despite strong fundamentals, raising questions about whether the market is misjudging the company's potential. Analysts highlight the company's solid financial performance and growth prospects, suggesting that the current stock slide may not reflect its true value. Investors are encouraged to consider the underlying strengths of GRAVY as they navigate market fluctuations. Strong fundamentals indicate potential for future growth, but current market sentiment is negatively impacting stock performance.

26 Dec

4 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd. officially launched 'Ragnarok: Rebirth' in China on December 25, 2025. This new installment in the popular Ragnarok franchise aims to expand the company's presence in the Chinese gaming market, which is known for its significant revenue potential. The launch is expected to attract both existing fans and new players, enhancing GRAVITY's market position and financial performance in the region. The launch of 'Ragnarok: Rebirth' in China is a significant strategic move that could greatly enhance GRAVITY's market presence and financial performance.

7 Nov

4 GlobeNewswireGuruFocus.comZacksGuruFocus.comGuruFocus.comMT NewswiresZacksZacks, 6:15 AM
Gravity Co., Ltd. reported its third-quarter results for 2025, highlighting a significant increase in revenue driven by strong performance in its gaming segment. The company also announced strategic initiatives aimed at expanding its market presence and enhancing product offerings. Key updates included the launch of new game titles and partnerships that are expected to bolster growth. Overall, the financial results exceeded analyst expectations, reflecting a positive outlook for the remainder of the fiscal year. The reported revenue increase and strategic initiatives are likely to significantly impact future performance and investor sentiment.

3 Nov

4 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd. has successfully launched 'Ragnarok: Twilight' in Southeast Asia, expanding its presence in the region's gaming market. The game aims to attract both new players and existing fans of the Ragnarok franchise, featuring enhanced graphics and gameplay mechanics. This launch is part of GRAVITY's strategy to strengthen its foothold in the competitive gaming industry and capitalize on the growing demand for mobile games in Southeast Asia. The successful launch of a major game title in a key market is likely to significantly impact GRAVITY's future performance and investor sentiment.

28 Oct

3 Simply Wall St., 2:21 PM
Public companies hold 59% of Gravity Co., Ltd.'s (NASDAQ:GRVY) ownership, while individual investors account for 25%. This distribution highlights the significant institutional interest in the company, which may influence its market dynamics and investor sentiment. The ownership distribution indicates a moderately noticeable influence on market sentiment and potential financial performance.

27 Oct

4 , 6:00 AM
GRAVITY Co., Ltd. has received an ISBN code from the Chinese government for its upcoming game, RAGNAROK 3 (仙境传说3). This approval is a significant step towards the game's release in China, indicating regulatory compliance and potential market entry. The ISBN code is essential for publishing video games in China, suggesting that GRAVITY is progressing in its expansion efforts within the Chinese gaming market. Receiving an ISBN code is a critical regulatory milestone that can significantly enhance GRAVITY's market presence and revenue potential in China.

23 Oct

4 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd. announced the official launch of 'Ragnarok: Twilight' in Southeast Asia on October 23, 2025. This new installment in the popular Ragnarok franchise aims to expand the company's presence in the region and attract a larger player base. The launch is expected to enhance GRAVITY's market position and drive revenue growth through increased engagement and in-game purchases. The launch of a major game title in a key market is likely to significantly impact GRAVITY's future performance and investor sentiment.

1 Oct

3 Simply Wall St., 1:56 PM
Gravity Co., Ltd. (NASDAQ: GRVY) has faced a challenging five-year period for investors, with stock performance failing to yield profits. The company's struggles are attributed to various factors, including market competition and operational challenges, leading to a decline in investor confidence and overall market performance. The company's ongoing challenges are expected to moderately influence its financial performance and competitive positioning.

26 Sep

4 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd.'s game, Ragnarok Idle Adventure Plus, has received an ISBN code from the Chinese government, indicating official approval for distribution in China. This development is significant as it opens up opportunities for the game in a major market, potentially enhancing GRAVITY's revenue streams and market presence. Receiving an ISBN code allows for official distribution in China, which can significantly boost revenue and market presence.

25 Sep

4 GlobeNewswireMT NewswiresGuruFocus.comEngadgetCoinDeskEngadgetEngadgetBusiness Wire Videos, 6:00 AM
GRAVITY Co., Ltd. has officially launched 'Ragnarok: The Promised Adventure' in China on September 25, 2025. This new title is part of the popular Ragnarok franchise and aims to expand the company's presence in the Chinese gaming market, which is known for its significant revenue potential. The launch is expected to attract both existing fans and new players, enhancing GRAVITY's market position. The launch of a major title in a lucrative market like China is likely to significantly impact GRAVITY's future performance and investor sentiment.

4 Sep

4 GlobeNewswire, 6:00 AM
GRAVITY Co., Ltd. announced the official launch of 'Ragnarok M: Classic' in North and South America, Europe, the Middle East, certain regions of North Africa, and Oceania on September 3, 2025. This launch marks a significant expansion of the game's availability, aiming to attract a broader player base across these regions. The launch of 'Ragnarok M: Classic' in multiple regions is expected to significantly enhance GRAVITY's market presence and revenue potential.

20 Aug

4 , 6:00 AM
GRAVITY Co., Ltd. officially launched 'Ragnarok: Twilight' in China on August 15, 2025. This new installment in the popular Ragnarok franchise aims to expand the company's presence in the Chinese gaming market, which is known for its significant revenue potential. The launch is expected to attract both existing fans and new players, enhancing GRAVITY's market position and revenue streams. The launch of a major game in a lucrative market like China is likely to significantly impact GRAVITY's future performance and investor sentiment.

17 Aug

3 Simply Wall St., 8:12 AM
GRAVITY Co., Ltd. (NASDAQ: GRVY) is facing challenges in improving its returns on capital, which have been underwhelming. The company is exploring strategies to enhance its financial performance and investor confidence. Analysts are closely monitoring these developments as they could influence GRAVITY's market position and future growth prospects. The company's efforts to improve returns on capital may moderately influence its financial performance and market sentiment.

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