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Korean video-game developer/publisher best known for the Black Desert Online MMORPG franchise.
Korean video-game developer/publisher best known for the Black Desert Online MMORPG franchise.
Revenue has depended heavily on one franchise, Black Desert, whose PC and mobile versions earn from in-game purchases and regional publishing. Crimson Desert, its first big new game in years, is the first real attempt to widen the base. Founder Kim Dae-il is the largest shareholder.
Moat: narrow (brand, IP / patents). Long-running Black Desert IP with a loyal global player base, though new-title execution risk is high.
Headquarters: Gimpo, South Korea · Founded: 2010 · Employees: 733
Size PearlAbyss (263750.KS) is a South Korea Information Technology company (Packaged Software) with a market value of $1.47B, the 173rd largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩33,200 on 6 Nov 2026.
Performance Over six months the shares fell 43.6%, against -16.1% for the median peer and -24.5% for the South Korea market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue grew 113.8% over the last twelve months (peer median +9.2%); the operating margin is 39.7% (peer median 5.7%).
Valuation It trades at 7.1× forward earnings against a peer median of 21.3× (cheapest of 19).
Capital Return on invested capital runs 47.6 points above its cost of capital (5.4% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩723B | ₩366B | ₩342B | ₩333B | ₩386B |
| Revenue growth | — | +7% | +3% | -14% | — |
| Gross profit | ₩472B | ₩124B | ₩112B | ₩105B | ₩160B |
| EBITDA | ₩303B | ₩14.4B | ₩16.0B | ₩16.1B | ₩49.1B |
| Net income | ₩271B | -₩8.41B | ₩60.3B | ₩15.2B | -₩43.0B |
| Free cash flow | ₩251B | ₩15.5B | -₩6.19B | ₩24.3B | -₩40.3B |
| Capital expenditure | ₩2.86B | ₩4.47B | ₩3.60B | ₩9.28B | ₩98.3B |
| Total debt | ₩77.6B | ₩74.7B | ₩102B | ₩248B | ₩329B |
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 |
|---|---|---|---|---|---|---|
| PearlAbyss 263750.KS | $1.47B | -44% | +114% | 40% | 7.1× | n/a |
| Krafton 259960.KS | $6.94B | -17% | +55% | 30% | 12.4× | -18.5% |
| Netmarble 251270.KS | $2.02B | -30% | +10% | 11% | 5.7× | -8.0% |
| NC 036570.KS | $2.98B | -23% | +35% | 14% | 9.3× | -4.8% |
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 | 263750.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | 0.0% | +1.4% | 9th lowest of 21 |
| 6-month return | -43.6% | -16.1% | 3rd lowest of 20 |
| Distance from 52-week high | -57.1% | -42.1% | 4th lowest of 21 |
| Revenue growth (TTM) | +113.8% | +9.2% | 2nd highest of 21 |
| Operating margin | 39.7% | 5.7% | 2nd highest of 21 |
| Forward P/E | 7.1× | 21.3× | cheapest of 19 |
| ROIC minus cost of capital | +47.6 pp | -1.4 pp | highest of 19 |
| EV / EBITDA | 4.4× | 12.8× | cheapest of 10 |
| Net debt / EBITDA | -2.1× | -0.7× | 5th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PearlAbyss 263750.KS | South Korea | $1.47B | -44% | +114% | 40% | 7.1× | n/a | n/a |
| Exzeo XZO | United States | $1.47B | +21% | +329% | 49% | 14.8× | -8.4% | +59.0% |
| Pagaya Technologies PGY | United States | $1.47B | +15% | +11% | 22% | 7.8× | 4.1% | +68.9% |
| Systex 6214.TW | Taiwan | $1.46B | +54% | +34% | 3% | 16.6× | -12.4% | +13.1% |
| GO Inc. 581A.T | Japan | $1.45B | n/a | +32% | 17% | 21.9× | 34.7% | +31.9% |
| NextNav NN | United States | $1.45B | -56% | -36% | -1,900% | n/a | n/a | n/a |
| EverCommerce EVCM | United States | $1.45B | -31% | -7% | 13% | 11.7× | 11.6% | +11.8% |
| Phancy 6682.HK | Hong Kong | $1.48B | -45% | +42% | -5% | 88.0× | n/a | n/a |
| Fractal Analytics FRACTAL.NS | India | $1.49B | -27% | +19% | 12% | 41.5× | 31.4% | +18.5% |
| Alkami Technology ALKT | United States | $1.44B | -25% | +24% | -5% | 13.1× | 12.6% | +31.7% |
| Wuxi Boton Technology 300031.SZ | China | $1.50B | +8% | +22% | 2% | 32.5× | 30.2% | +5.6% |
| BlackLine BL | United States | $1.50B | -15% | +9% | 7% | 10.0× | 12.1% | +14.8% |
| YGsoft 002063.SZ | China | $1.51B | -16% | +5% | 13% | 31.0× | 16.3% | +8.9% |
| Shenzhen Kingdom Sci-tech 600446.SS | China | $1.41B | -27% | -22% | -6% | 177.0× | n/a | n/a |
| Yusys Technologies 300674.SZ | China | $1.53B | -23% | -11% | 8% | 20.8× | 15.6% | +4.0% |
| Digiwin 300378.SZ | China | $1.54B | -2% | +10% | 9% | 32.5× | n/a | n/a |
| CloudWalk Technology 688327.SS | China | $1.54B | -28% | -47% | -165% | n/a | n/a | n/a |
| Paradox Interactive PDX.ST | Sweden | $1.54B | +6% | +13% | 6% | 25.3× | 20.8% | +4.1% |
| Longshine Technology 300682.SZ | China | $1.39B | -35% | +7% | -9% | 25.9× | 49.4% | +6.0% |
| Sprinklr CXM | United States | $1.55B | +25% | +6% | 6% | 13.0× | 4.8% | +17.2% |
| Playtech PTEC.L | United Kingdom | $1.39B | +7% | -54% | 0% | 11.4× | -6.0% | -7.4% |