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Korean video-game publisher/developer best known for PUBG (PlayerUnknown's Battlegrounds) and PUBG Mobile.
Korean video-game publisher/developer best known for PUBG (PlayerUnknown's Battlegrounds) and PUBG Mobile.
Earns from in-game purchases, mainly cosmetic items, in the free PUBG Mobile and from game sales on PC and console; in China, partner Tencent runs the game and pays Krafton royalties. Mobile is the biggest platform. It has been buying studios, such as Subnautica's maker Unknown Worlds, to reduce its dependence on PUBG.
In one line: Korea's Take-Two/Epic Games — a battle-royale-franchise-driven game publisher..
Moat: narrow (brand, network effects, IP/patents). PUBG's battle-royale brand and large live player base give it a durable single-franchise moat, but new-title diversification is unproven.
Headquarters: Seoul, South Korea · Founded: 2007 · Employees: 2,118
Size Krafton (259960.KS) is a South Korea Communication Services company (Packaged Software) with a market value of $6.94B, the 58th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩220,500 on 6 Nov 2026.
Performance Over six months the shares fell 16.8%, against -16.4% for the median peer and -24.5% for the South Korea market (cap-weighted) — 4th highest of 7 in its peer set.
Growth Revenue grew 55.0% over the last twelve months (peer median +17.9%); the operating margin is 29.7% (peer median 15.4%).
Valuation It trades at 12.4× forward earnings against a peer median of 20.6× (3rd cheapest of 7).
Price implies For today's price to make sense, revenue must grow about -19% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -33 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.4 points above its cost of capital (5.4% WACC).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩4.45T | ₩3.33T | ₩2.71T | ₩1.91T | ₩1.85T |
| Revenue growth | — | +23% | +42% | +3% | — |
| Gross profit | ₩2.76T | ₩1.98T | ₩1.63T | ₩1.12T | ₩1.24T |
| EBITDA | ₩1.51T | ₩1.20T | ₩1.29T | ₩876B | ₩856B |
| Net income | ₩835B | ₩735B | ₩1.31T | ₩595B | ₩502B |
| Free cash flow | ₩990B | ₩968B | ₩888B | ₩628B | ₩486B |
| Capital expenditure | ₩113B | ₩102B | ₩26.7B | ₩35.6B | ₩28.6B |
| Total debt | ₩655B | ₩572B | ₩198B | ₩204B | ₩204B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Krafton 259960.KS | $6.94B | -17% | +55% | 30% | 12.4× | -18.5% |
| Tencent 0700.HK | $482B | -11% | +16% | 32% | 12.5× | 6.4% |
| NC 036570.KS | $2.98B | -23% | +35% | 14% | 9.3× | -4.8% |
| Netmarble 251270.KS | $2.02B | -30% | +10% | 11% | 5.7× | -8.0% |
| Take-Two Interactive TTWO | $40.2B | -3% | +15% | -1% | 26.7× | 44.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 259960.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.0% | +2.5% | 2nd highest of 7 |
| 6-month return | -16.8% | -16.4% | 4th highest of 7 |
| Distance from 52-week high | -27.4% | -38.4% | 3rd highest of 7 |
| Revenue growth (TTM) | +55.0% | +17.9% | highest of 7 |
| Operating margin | 29.7% | 15.4% | 2nd highest of 7 |
| Forward P/E | 12.4× | 20.6× | 3rd cheapest of 7 |
| Growth the price implies (Req g, 7 yrs) | -18.5% | -3.2% | least demanding of 7 |
| Growth delivered (Del g) | +14.8% | +15.2% | 4th highest of 7 |
| Hurdle (Req g minus delivered) | -33.3 pp | -12.4 pp | 2nd least demanding of 7 |
| ROIC minus cost of capital | +12.4 pp | +11.8 pp | 4th highest of 7 |
| EV / EBITDA | 5.0× | 7.6× | cheapest of 7 |
| Net debt / EBITDA | -1.3× | -1.5× | 3rd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Krafton 259960.KS | South Korea | $6.94B | -17% | +55% | 30% | 12.4× | -18.5% | +14.8% |
| Trade Desk (The) TTD | United States | $6.11B | -44% | +12% | 20% | 121.4× | -5.8% | +28.2% |
| NC 036570.KS | South Korea | $2.98B | -23% | +35% | 14% | 9.3× | -4.8% | -9.0% |
| Naver 035420.KS | South Korea | $20.3B | -10% | +15% | 17% | 15.5× | -0.6% | +17.8% |
| Konami 9766.T | Japan | $23.5B | +45% | +25% | 33% | 25.7× | -1.5% | +12.6% |
| Netmarble 251270.KS | South Korea | $2.02B | -30% | +10% | 11% | 5.7× | -8.0% | +2.7% |
| Roku ROKU | United States | $23.9B | +24% | +21% | 8% | 39.1× | 39.6% | +21.6% |