Saturday 17 October 2026 Export GRVY’s income statement to Excel — free account

GRAVITY Co., Ltd.

GRVY Communication Services Electronic Gaming & Multimedia

GRAVITY Co., Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $392.4 million, up 11.9% from fiscal 2024. In the quarter to June 2026, revenue fell 17.1%, EPS grew 60.3% and free cash flow grew 3,467.8%, each against the same quarter a year earlier.

66.71 0.00 0.00%

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Market cap: $463.6M
P/E: 8.2×
Fwd P/E: —
Dividend yield: —
F-score: 7/9
Altman Z: 6.44
Beneish M: −2.51
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.13%

Capital & Financial Ratios $m

Market Cap 463.63

Revenue 386.79

Net Income 47.12

Free Cash Flow 88.96

Net Debt (422.71)

Current Ratio 7.20

Debt/Equity 0.00

P/E ratio 8.19

Fwd P/E —

P/S ratio 1.20

P/B ratio 1.03

Past 5Y EPS Growth (2.56%)

This Y EPS Growth —

Next Y EPS Growth —

Next Y revenue growth —

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 53.60%

10-year low 10-year high

P/S against its own 10 years 62.22%

10-year low 10-year high

P/B against its own 10 years 16.44%

10-year low 10-year high

EV/Sales against its own 10 years 10.60%

10-year low 10-year high

EV/FCF against its own 10 years 22.60%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2020	Powerpack
2019	Powerpack
2018	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	373	392	436	423
Receivables	60	58	41	50
Inventory	—	—	—	—
Other	3	2	2	1
	438	458	489	490

	2023	2024	2025	Q'26
Payables	49	48	43	43
ST’ Debt	—	—	—	—
Other	6	3	4	4
	85	76	67	68

Compound Annual Growth %

	10y	5y	3y
Sales	29.11%	3.86%	6.53%
Cash Flow	0.00%	(0.96%)	(8.18%)
Earnings	0.00%	(1.20%)	(6.70%)
Book Value	33.06%	25.75%	24.51%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	106	105	—	—	—
’25	90	126	99	77	392
’24	81	89	98	82	351
’23	122	181	131	146	580
’22	68	74	72	111	325
’21	87	74	109	103	373
’20	65	74	113	73	325

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	—	—	—	53	53
’24	—	—	—	55	55
’23	—	—	—	—	106
’22	—	—	—	—	69
’21	—	—	—	—	67
’20	—	—	—	—	56

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	—	—	—	53	49
’24	—	—	—	55	52
’23	—	—	—	(2)	101
’22	—	—	—	(1)	67
’21	—	—	—	(2)	63
’20	—	—	—	(1)	53

Fiscal quarters ending in the months shown.

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	3.29	14.55
’22	1.95	1.93	1.62	3.52	9.26
’21	3.01	1.88	3.20	0.65	8.29
’20	1.09	1.57	3.10	1.34	7.65

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	1.50	5.24	15.44	26.00	21.49	64.14	36.08	39.25	57.37	53.12	Analyst estimates 2026–2028 Powerpack
	High	7.57	48.22	54.49	96.50	239.90	223.00	72.00	82.48	88.85	70.00
People
People	Employees	228	243	249	284	324	377	400	437	464	499
	Revenue/emp, $m	0.19	0.52	1.04	1.02	1.00	0.99	0.81	1.33	0.76	0.79
Income, $m
Income, $m	Revenue	43	127	258	289	325	373	325	580	351	392
	Gross margin, %	41.64	33.46	26.76	26.37	41.12	45.84	42.33	33.16	38.72	35.02
	EBT	3	13	31	41	70	89	77	135	74	64
	EBT margin, %	6.65	10.21	12.01	14.20	21.68	23.99	23.70	23.25	21.23	16.22
	Net income	0	12	28	32	50	59	58	106	59	47
	Depreciation	0	0	1	3	4	6	5	6	6	8
Per share, $
Per share, $	Revenue	6.14	18.34	74.29	41.56	46.74	53.61	46.70	83.53	50.45	56.47
	Earnings	0.03	1.80	8.13	4.88	7.65	8.29	9.26	14.55	8.55	6.72
	Cash flow	0.29	3.39	9.32	3.04	8.04	9.61	9.90	15.25	7.91	7.67
	Capex	(0.02)	(0.27)	(0.56)	(0.26)	(0.43)	(0.54)	(0.28)	(0.67)	(0.48)	(0.64)
	Free cash flow	0.27	3.12	8.75	2.78	7.62	9.07	9.62	14.58	7.43	7.03
	Book value	3.60	5.70	19.57	13.33	20.42	31.97	33.26	53.39	57.25	64.21
	Shares, m	7	7	3	7	7	7	7	7	7	7
Valuation, ×
Valuation, ×	P/E	266.00	26.79	15.20	7.78	25.47	7.79	4.65	4.37	7.04	8.68
	P/S	0.87	2.64	1.62	0.90	3.87	1.27	0.90	0.80	1.25	1.02
	P/B	1.40	8.51	5.36	2.74	7.98	2.75	1.19	1.35	1.14	0.98
	EV/Sales	0.07	2.21	1.29	0.56	3.37	0.81	0.12	0.21	0.17	0.00
	EV/FCF	0.08	14.70	12.13	4.11	10.95	1.92	0.19	0.42	0.21	0.00
Cash, $m
Cash, $m	Operating cash flow	2	24	32	21	56	67	69	106	55	53
	Capex	0	(2)	(2)	(2)	(3)	(4)	(2)	(5)	(3)	(4)
	Free cash flow	2	22	30	19	53	63	67	101	52	49
Balance, $m
Balance, $m	Working capital	27	40	60	80	131	209	221	352	381	422
	Total debt	—	—	—	4	5	7	5	—	—	—
	Net debt	(32)	(55)	(86)	(95)	(146)	(223)	(238)	(373)	(392)	(436)
	Shareholders’ equity	25	40	68	93	142	222	231	371	398	446
Returns, %
Returns, %	ROA	0.49	15.97	21.76	21.61	28.45	23.41	19.20	27.31	12.61	9.44
	ROIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	623.50	335.92
	ROE	0.82	37.11	52.60	39.86	42.78	32.61	25.65	35.08	15.46	11.19

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PLTK Playtika Holding Corp.	$831.5M	— (loss-making)	6.4×	+5.04% (above 0%: growing)	+44.44% (above 0%: growing)	−90.17% (below 0%: shrinking)	73.62%	18.41%	Compare
DDI DoubleDown Interactive Co., Ltd. Sponsored ADR	$680.1M	5.5×	4.7×	+11.17% (above 0%: growing)	+50.00% (above 0%: growing)	+24.80% (above 0%: growing)	75.54%	38.72%	Compare
GRVY GRAVITY Co., Ltd.	$463.6M	8.2×	—	−17.14% (below 0%: shrinking)	+60.28% (above 0%: growing)	+3,467.78% (above 0%: growing)	32.33%	17.04%
SOHU Sohu.com Inc.	$328.7M	1.5×	— (loss-making)	+7.34% (above 0%: growing)	n/m	+65.84% (above 0%: growing)	78.64%	(13.50%)	Compare
FIRY Firy Inc.	$192.3M	— (loss-making)	— (loss-making)	+22.92% (above 0%: growing)	n/m	+15.94% (above 0%: growing)	87.38%	(69.59%)	Compare
GDEV GDEV Inc.	$190.2M	2.7×	2.8×	−18.54% (below 0%: shrinking)	+1,000.00% (above 0%: growing)	+4,744.48% (above 0%: growing)	84.44%	21.72%	Compare
CTW CTW Cayman	$114.2M	—	—	—	—	−216.27% (below 0%: shrinking)	—	—	Compare
GCL GCL Global Holdings Ltd.	$106.6M	— (loss-making)	—	—	−66.67% (below 0%: shrinking)	−1,222.35% (below 0%: shrinking)	—	—	Compare
MYPS PLAYSTUDIOS, Inc.	$50.2M	— (loss-making)	— (loss-making)	−7.32% (below 0%: shrinking)	n/m	−80.34% (below 0%: shrinking)	80.32%	(17.36%)	Compare
Median of peers	$191.3M	2.7×	4.7×	+6.19%	+47.22%	−32.20%	79.48%	2.46%

All 23 Electronic Gaming & Multimedia stocks →

GRAVITY Co., Ltd. (GRVY) key facts

Strength: GRAVITY Co., Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $392.4 million, up 11.9% from fiscal 2024.
GRAVITY Co., Ltd. (GRVY) is an Electronic Gaming & Multimedia company in the Communication Services sector, traded in the US as an ADR.
As of October 16, 2026, GRVY traded at $66.71, a market capitalization of $463.6 million.
Return on equity was 11.2% and debt-to-equity 0.00.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 6.44 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.