181710 - NHN Corporation

181710 Summary

Games

Stock Price & Overview

₩71,500 +5,600 (+8.50%) Close · Sep 4, 2026 KST

KOSPI | ₩KRW | Close: ₩71,500 ≈ US$51 · Market cap ₩2.3tn (≈ $1.7bn)

181710 Financial Statements

Breakdown ₩ tn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Revenue	2.52	2.46	2.27	2.11	1.92	1.64	1.49	1.26	0.91	0.86	0.64
Cost of Revenue	—	—	—	2.08	1.83	1.56	1.40	1.20	0.87	0.83	0.70
Operating Income	0.13	-0.03	0.06	0.04	0.10	0.09	0.09	0.07	0.03	0.03	-0.05
Finance Income	0.07	0.09	0.08	0.07	0.12	0.10	0.05	0.12	0.10	0.09	0.32
Finance Costs	0.05	0.07	0.08	0.08	0.06	0.06	0.04	0.04	0.02	0.06	0.02
Pretax Income	0.13	-0.13	0.01	0.00	0.15	0.05	0.07	0.15	0.05	0.03	0.23
Income Tax Expense	0.08	0.06	0.04	0.03	0.05	0.04	0.04	0.05	0.05	0.02	0.06
Net Income	0.05	-0.19	-0.02	-0.03	0.13	0.03	0.02	0.10	0.01	0.01	0.17
Total Comprehensive Income	0.05	-0.18	-0.02	-0.08	0.33	0.05	0.03	0.10	-0.01	0.05	0.14

Breakdown ₩ tn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Assets	3.85	3.19	3.45	3.03	3.03	2.55	2.50	2.49	2.12	1.84	1.83
Current Assets	2.20	1.42	1.54	1.35	1.36	1.09	1.06	1.01	0.95	0.75	0.68
Cash & Cash Equivalents	1.56	0.62	0.77	0.63	0.60	0.53	0.46	0.39	0.37	0.30	0.26
Inventories	0.03	0.05	0.07	0.05	0.05	0.05	0.04	0.04	0.02	0.02	—
Trade Receivables	0.43	0.52	0.51	0.47	0.30	0.25	0.28	0.30	0.29	—	—
Non-current Assets	1.65	1.77	1.91	1.68	1.67	1.46	1.44	1.49	1.17	1.09	1.15
Property, Plant & Equipment	0.68	0.70	0.71	0.48	0.39	0.38	0.36	0.37	0.12	0.11	0.11
Intangible Assets	—	—	—	0.41	0.38	0.41	0.47	0.55	0.35	0.32	0.31
Total Liabilities	2.08	1.43	1.46	1.03	0.93	0.71	0.67	0.67	0.46	0.33	0.33
Current Liabilities	1.54	0.88	0.89	0.75	0.72	0.56	0.53	0.56	0.40	0.27	0.23
Non-current Liabilities	0.54	0.55	0.57	0.29	0.21	0.15	0.14	0.11	0.06	0.06	0.10
Total Equity	1.77	1.77	1.99	1.99	2.10	1.84	1.83	1.82	1.66	1.51	1.50
Share Capital	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Retained Earnings	0.63	0.32	0.52	0.58	0.65	0.43	0.40	0.39	0.28	0.26	0.25

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Cash from Operating Activities	374.0	47.0	165.3	25.9	226.4	141.3	107.7	38.1	-43.5	83.4	-107.5
Cash from Investing Activities	12.8	-50.5	-294.5	11.4	-173.8	3.2	-18.7	23.4	-85.7	36.7	-117.5
Purchase of Property, Plant & Equipment	61.0	48.0	317.9	130.2	73.0	0.0	57.2	74.0	84.0	—	—
Cash from Financing Activities	554.1	-149.2	269.1	1.2	7.7	-65.2	-17.0	-44.3	196.2	-79.2	277.1
Dividends Paid	18.1	21.2	6.0	2.2	6.7	3.7	3.9	—	10.7	5.5	0.4
Net Change in Cash	940.9	-152.6	139.9	38.5	60.3	79.3	72.0	17.2	67.1	41.0	52.1

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Revenue	757.9	671.4	685.6	625.6	604.9	600.1	643.9	608.4	599.4	604.4
Cost of Revenue	—	—	—	—	—	—	—	721.8	570.9	577.1
Operating Income	57.9	26.3	55.2	27.6	21.9	27.6	25.0	-113.4	28.5	27.3
Finance Income	7.2	26.4	40.4	10.1	10.5	14.0	50.5	17.6	10.7	12.8
Finance Costs	12.3	11.3	20.6	4.3	9.0	16.6	40.9	9.1	9.8	8.7
Pretax Income	51.4	50.6	44.4	39.1	23.8	24.1	-71.7	-97.4	21.4	18.1
Income Tax Expense	22.3	19.5	21.5	21.0	12.6	24.3	10.4	12.9	16.8	23.0
Net Income	29.1	31.1	22.9	18.0	11.2	-0.2	-82.1	-110.3	4.6	-4.8
Total Comprehensive Income	33.2	41.9	26.4	19.6	-5.3	6.0	-61.0	-122.3	10.1	-7.1

Breakdown ₩ tn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Assets	3.52	3.35	3.85	3.45	2.98	3.06	3.19	3.21	3.36	3.35
Current Assets	1.69	1.59	2.20	1.77	1.27	1.32	1.42	1.30	1.42	1.43
Cash & Cash Equivalents	0.82	0.80	1.56	1.08	0.58	0.62	0.62	0.65	0.67	0.64
Inventories	0.02	0.02	0.03	0.03	0.03	0.04	0.05	0.07	0.08	0.07
Trade Receivables	0.59	0.56	0.43	0.48	0.44	0.43	0.52	0.44	0.51	0.51
Non-current Assets	1.83	1.76	1.65	1.69	1.70	1.73	1.77	1.91	1.94	1.92
Property, Plant & Equipment	0.72	0.71	0.68	0.67	0.68	0.70	0.70	0.70	0.70	0.71
Intangible Assets	—	—	—	—	—	—	—	0.42	0.44	0.43
Total Liabilities	1.71	1.55	2.08	1.70	1.24	1.31	1.43	1.38	1.41	1.41
Current Liabilities	1.01	0.91	1.54	1.18	0.72	0.77	0.88	0.78	0.83	0.82
Non-current Liabilities	0.70	0.64	0.54	0.52	0.52	0.54	0.55	0.59	0.58	0.59
Total Equity	1.81	1.80	1.77	1.76	1.74	1.75	1.77	1.83	1.95	1.94
Share Capital	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Retained Earnings	0.66	0.64	0.63	0.33	0.32	0.31	0.32	0.39	0.46	0.45

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Cash from Operating Activities	83.9	-44.8	-164.4	469.4	-18.1	87.0	97.6	-17.9	3.3	-36.0
Cash from Investing Activities	-22.2	-7.0	-58.8	47.1	21.1	3.4	-48.9	9.4	20.3	-31.2
Purchase of Property, Plant & Equipment	39.6	30.7	34.5	12.7	7.6	6.1	9.4	7.9	7.8	22.9
Cash from Financing Activities	-42.6	-711.3	705.2	-13.6	-44.1	-93.3	-75.0	-16.7	3.2	-60.7
Dividends Paid	—	—	0.0	0.0	—	—	0.0	0.0	—	—
Net Change in Cash	19.0	-763.1	481.9	503.0	-41.2	-2.9	-26.4	-25.2	26.8	-127.9

Consolidated (CFS), from DART. 11 fiscal years and 10 quarters. Accounts matched on IFRS account_id, not Korean labels, so the same line holds across years where the Korean wording changed. Quarterly figures are three-month values: income quarters from DART's three-month column, cash-flow quarters differenced from DART's cumulative figures, and Q4 as annual minus nine-month cumulative.

181710 Growth

FY2025 ₩bn	Latest	1-yr	3-yr CAGR	5-yr CAGR	10-yr CAGR
Revenue	2,516.2	+2.4%	+6.0%	+8.9%	+14.6%
Operating income	132.4	—	+50.2%	+9.1%	—
Net income	51.9	—	—	+13.2%	-10.9%
EPS	₩1,585	—	—	+13.2%	-10.9%
Operating cash flow	374.0	+695.1%	+143.6%	+21.5%	—
Shareholders' equity	1,770.8	+0.3%	-3.9%	-0.8%	+1.7%

Compound annual growth from the DART annual statements on this page. n/m where either end of the period is a loss or missing. EPS uses today's share count for every year.

181710 Profitability

Ratio	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Operating margin	5.3%	-1.3%	2.4%	1.8%	5.1%	5.2%
Net margin	2.1%	-7.8%	-1.0%	-1.5%	6.7%	1.7%
Return on equity	2.9%	-10.3%	-1.2%	-1.6%	6.6%	1.5%
Return on assets	1.5%	-5.8%	-0.7%	-1.0%	4.7%	1.1%
Operating cash flow / revenue	14.9%	1.9%	7.3%	1.2%	11.8%	8.6%
Capex / revenue	2.4%	2.0%	14.0%	6.2%	3.8%	0.0%

Margins divide by revenue for the same year. Return on equity and assets divide net income by the average of that year's and the prior year's balance, as DART reports them (consolidated, including minority interests).

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What a US investor should know

Trading hours09:00–15:30 KST — 20:00–02:30 US Eastern the night before.
Daily limitKorean stocks can move at most ±30% in a session before trading halts.
Getting exposureKRX shares are not directly tradable in most US brokerage accounts. The usual routes are Korea ETFs or an international account.
ReportingKorean issuers file to DART, not the SEC. Half-year and quarterly reports land about 45 days after period end.