Gravity Co., Ltd. Sponsored ADR (GRVY) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 22	—	$1.62	—	—	$102.4B	—
Q2 22	—	$1.93	—	—	$96.5B	—
Q1 22	—	$1.95	—	—	$88.6B	—
Q3 21	—	$3.2	—	—	$128.7B	—
Q2 21	—	$1.88	—	—	$83.6B	—
Q1 21	—	$3.01	—	—	$105.1B	—
Q3 20	—	$3.1	—	—	$131.8B	—
Q2 20	—	$1.6	—	—	$88.5B	—
Q1 20	—	$1.09	—	—	$73.3B	—
Q3 19	—	$1.08	—	—	$77.6B	—
Q2 19	—	$1.4	—	—	$78.1B	—
Q1 19	—	$2.5	—	—	$133.6B	—
Q4 18	—	$0.93	—	—	$113.2B	—
Q3 18	—	$0.82	—	—	$44.2B	—
Q2 18	—	$0.43	—	—	$63B	—
Q1 18	—	$0.24	—	—	$66.3B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$9.7K	—	—	$560.5B	—
FY24	—	$12.2K	—	—	$500.8B	—
FY23	—	$19K	—	—	$725.5B	—
FY22	—	$12K	—	—	$463.6B	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$51.4B	$141.6B	$286.8B	$361B	$406B	$413.9B	$463.6B	$725.5B	$500.8B	$560.5B
YoY change	+44.1%	+175.6%	+102.5%	+25.9%	+12.5%	+1.97%	+12%	+56.5%	-31%	+11.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	51.4B	141.6B	286.8B	361B	406B	413.9B	463.6B	725.5B	500.8B	560.5B
Cost of revenue	29.6B	94.2B	210B	265.8B	239B	224.2B	267.4B	485B	306.9B	364.3B
Gross profit	21.8B	47.4B	76.7B	95.2B	166.9B	189.8B	196.3B	240.6B	193.9B	196.3B
Gross margin	42.4%	33.5%	26.8%	26.4%	41.1%	45.8%	42.3%	33.2%	38.7%	35%
Research & development	2B	5.2B	8B	9.5B	15B	16.6B	13.8B	13.5B	15.3B	10.3B
Selling, general & administrative	15.8B	27.8B	34B	35.4B	60.4B	72.5B	73.5B	61.4B	85.9B	100.3B
Operating expenses	24.6B	40.9B	49.2B	44.8B	75.4B	89.1B	87.3B	74.8B	101.2B	110.6B
Operating income	3.9B	14.1B	33.9B	48.8B	89.5B	97.6B	104.8B	161B	86.8B	79.8B
Operating margin	7.51%	9.98%	11.8%	13.5%	22%	23.6%	22.6%	22.2%	17.3%	14.2%
Non-operating income, net	-554M	-221M	-256M	1.1B	-2.4B	469M	666M	-3.6B	2.6B	-4.4B
Pretax income	3.8B	14.5B	34.4B	51.3B	88B	99.3B	109.9B	168.7B	106.3B	90.9B
Income tax	3.2B	1.1B	3.1B	11.5B	25.5B	33.4B	26.8B	36.7B	21.4B	23.6B
Net income	587M	13.3B	31.4B	39.7B	62.6B	65.9B	83.1B	132B	84.9B	67.3B
Net margin	1.14%	9.4%	10.9%	11%	15.4%	15.9%	17.9%	18.2%	17%	12%
EBITDA	4.9B	15B	35.6B	54.4B	95.9B	105.8B	116.7B	181B	113.8B	106.7B
EPS	-106	1.9K	4.5K	5.7K	9K	9.5K	12K	19K	12.2K	9.7K
Diluted EPS	-106	1.9K	4.5K	5.7K	9K	9.5K	12K	19K	12.2K	9.7K

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	176.1B	145.5B	119.8B	123B	88.2M	129.7B	137.5B	170.7B	138.9B	113.5B	161.9B	161.9B
Cost of revenue	117.8B	93.3B	73.6B	76B	52.4M	81B	87.5B	114B	88.5B	74.3B	110.2B	109.5B
Gross profit	58.3B	52.2B	46.2B	47B	35.8M	48.7B	50B	56.7B	50.4B	39.2B	51.7B	52.3B
Gross margin	33.1%	35.9%	38.5%	38.2%	40.6%	37.6%	36.4%	33.2%	36.3%	34.5%	31.9%	32.3%
Research & development	4B	3.7B	3.6B	4.3B	2.5M	3.7B	3.4B	3.3B	2.1B	1.5B	1.1B	3B
Selling, general & administrative	17.2B	15.9B	15.7B	28.1B	14M	21.7B	21.9B	33.5B	26.7B	18.3B	19.6B	21.1B
Operating expenses	20.4B	19.6B	19.3B	32B	16.5M	25.4B	25.3B	37.1B	29.1B	19.7B	20.8B	24.8B
Operating income	37.2B	27.1B	26.9B	15B	19.3M	17.3B	24.7B	19.7B	21.3B	14.1B	30.8B	27.6B
Operating margin	21.1%	18.6%	22.4%	12.2%	21.9%	13.4%	18%	11.5%	15.3%	12.4%	19%	17%
Non-operating income, net	760M	—	—	—	-348.9K	2.7B	—	—	—	—	—	—
Pretax income	41.2B	26.2B	32.5B	20.1B	19.5M	25.4B	28.4B	18.7B	27.2B	16.6B	38.3B	32.5B
Income tax	12.2B	4.6B	5.6B	7.5B	4.2M	2.3B	6.4B	5.5B	7.4B	4.4B	8.9B	8.1B
Net income	29B	21.5B	26.9B	12.6B	15.3M	23.1B	22.1B	13.2B	19.8B	12.2B	29.4B	24.3B
Net margin	16.5%	14.8%	22.4%	10.2%	17.4%	17.8%	16.1%	7.74%	14.3%	10.7%	18.2%	15%
EBITDA	45B	18.2B	33.2B	23.9B	23M	16B	35.4B	22.3B	21.3B	8.9B	40.7B	33.5B
EPS	4.2K	—	3.9K	1.8K	3.2K	—	3.2K	1.9K	2.9K	—	4.2K	3.5K
Diluted EPS	4.2K	—	3.9K	1.8K	3.2K	—	3.2K	1.9K	2.9K	—	4.2K	3.5K

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	53.4B	478.4B	424.8B	378.7B	1.8T	689.8B	408.3B	696.2B	—	402.1M	402.1M
Enterprise value	14.7B	416.8B	329.3B	259.6B	1.6T	442.1B	68.1B	230.5B	—	-622.6B	-622.6B
Shares outstanding	10.1B	10.1B	10.1B	10.1B	10.1B	10.1B	10.1B	10B	6.9M	6.9M	6.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	91	35.9	13.5	9.53	29.3	10.5	4.92	5.28	—	0.01	0.01
P/S	1.04	3.38	1.48	1.05	4.51	1.67	0.88	0.96	—	0	0
P/B	1.74	10.9	5.62	3.27	10.3	2.79	1.24	1.5	—	0	0
EV/EBITDA	3	27.7	9.24	4.77	17.2	4.18	0.58	1.27	—	-5.83	-5.83
EV/Sales	0.29	2.94	1.15	0.72	4.06	1.07	0.15	0.32	—	-1.11	-1.11
Earnings yield	1.1%	2.78%	7.39%	10.5%	3.42%	9.55%	20.3%	19%	—	16.7K%	16.7K%
FCF yield	4.35%	5.03%	7.94%	6.34%	3.61%	10.1%	23.4%	18.2%	—	17.4K%	17.4K%

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	42.4%	33.5%	26.8%	26.4%	41.1%	45.8%	42.3%	33.2%	38.7%	35%	35%
Operating margin	7.51%	9.98%	11.8%	13.5%	22%	23.6%	22.6%	22.2%	17.3%	14.2%	14.2%
Net margin	1.14%	9.4%	10.9%	11%	15.4%	15.9%	17.9%	18.2%	17%	12%	12%
ROE	1.92%	30.3%	41.5%	34.3%	35.3%	26.7%	25.2%	28.5%	14.9%	10.6%	10.6%
ROA	1.05%	11.5%	18.1%	22.6%	23.6%	20.1%	18.7%	22.8%	12.4%	9.06%	9.06%
ROIC	-7.33%	-74%	-154.4%	-1.1K%	-1.2K%	-7.5K%	-787.2%	-6.3K%	809.4%	410.1%	410.1%
Return on tangible assets	1.06%	11.7%	18.4%	23.1%	24.2%	20.5%	19%	23.3%	12.6%	9.24%	9.24%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.59	1.68	1.71	2.79	2.98	4.14	3.99	5.14	6.02	7.27	7.27
Quick ratio	2.59	1.68	1.71	2.79	2.98	4.14	3.99	5.14	6.02	7.27	7.27
Interest coverage	—	1.1K	2.8K	186	474.2	864.5	866.2	1K	788.8	323.5	323.5
Effective tax rate	84.7%	7.91%	8.86%	22.5%	28.9%	33.7%	24.4%	21.8%	20.2%	26%	26%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.08	14	28.3	35.6	40.1	40.9	45.8	72.5	72.1K	80.7K	80.7K
EPS (basic)	-106	1.9K	4.5K	5.7K	9K	9.5K	12K	19K	12.2K	9.7K	9.7K
EPS (diluted)	-106	1.9K	4.5K	5.7K	9K	9.5K	12K	19K	12.2K	9.7K	9.7K
Book value per share	3.03	4.35	7.46	11.4	17.5	24.4	32.6	46.3	81.8K	91.7K	91.7K
FCF per share	0.23	2.38	3.33	2.37	6.53	6.91	9.43	12.7	10.6K	10K	10K
Cash per share	3.82	6.08	9.44	11.8	18	24.5	33.6	46.5	80.6K	89.6K	89.6K
Capex per share	0.01	0.09	0.11	0.09	0.11	0.17	0.07	0.24	87.4	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.29%	0.63%	0.37%	0.25%	0.26%	0.42%	0.16%	0.34%	0.12%	—	—
Capex / operating cash flow	3.02%	3.15%	2.6%	2.68%	1.27%	1.69%	0.58%	1.67%	0.61%	—	—

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$176.1B	$145.5B	$119.8B	$123B	$88.2M	$129.7B	$137.5B	$170.7B	$138.9B	$113.5B	$161.9B	$161.9B
YoY change	+72.1%	-17.4%	-27.4%	-48.5%	-99.9%	-10.9%	+14.8%	+38.9%	+157.4K%	-12.5%	+17.8%	-5.19%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	38.7B	61.6B	95.6B	119.2B	182.4B	247.7B	340.2B	465.7B	559.8B	623B
Receivables	11.8B	42.2B	60.7B	32.3B	59.8B	52.6B	77.3B	71.2B	81.2B	56.3B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	53.6B	108.9B	160.2B	155.9B	246.6B	306.1B	421.8B	546.9B	653.6B	698.5B
Property, plant & equipment	1.9B	946M	1.5B	6.7B	7.7B	11.3B	8.1B	10.2B	10B	10.8B
Goodwill & intangibles	468M	2.1B	2.3B	3.4B	6.7B	6.7B	7.7B	12.7B	14.1B	14.3B
Total assets	55.7B	115.9B	173.2B	175.4B	265.4B	327.5B	444.1B	578.2B	686.5B	742.7B
Accounts payable	9.7B	44.4B	71.9B	37.5B	52.7B	41.2B	73.5B	61.8B	67.9B	61.9B
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	20.7B	64.7B	93.5B	55.8B	82.7B	74B	105.7B	106.4B	108.6B	96B
Long-term debt	—	—	—	—	—	—	—	—	—	—
Total liabilities	25.1B	71.9B	97.6B	59.7B	88B	80.7B	113.9B	114.5B	118.1B	105.3B
Shareholders' equity	30.6B	44B	75.6B	115.8B	177.3B	246.8B	330.2B	463.7B	568.4B	637.4B
Total debt	—	—	—	—	—	—	—	—	—	—
Net debt	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	448B	465.7B	490B	504.4B	357.1M	559.8B	583.2B	581.6B	614.1B	623B	616.5B	654.7B
Receivables	81B	71.2B	64.1B	70.1B	45.6M	81.2B	74.5B	81.4B	60B	56.3B	83.9B	76.4B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	538B	546.9B	565.7B	585.1B	409.1M	653.6B	669.6B	686.7B	697.3B	698.5B	727.2B	758.9B
Property, plant & equipment	—	10.2B	—	—	—	10B	—	—	—	10.8B	—	—
Goodwill & intangibles	5B	12.7B	6.2B	5.9B	4M	14.1B	6.4B	8.9B	8.1B	14.3B	6.4B	5.5B
Total assets	567.3B	578.2B	596.2B	613.9B	428.9M	686.5B	702.9B	722.5B	730.9B	742.7B	792.8B	815.1B
Accounts payable	76.6B	61.8B	53.9B	59.3B	34.3M	67.9B	63B	82B	69B	61.9B	72.6B	66.9B
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	116.5B	106.4B	95.9B	96.6B	57M	108.6B	103B	118B	101.4B	96B	110.9B	105.4B
Long-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total liabilities	123.8B	114.5B	103.4B	104.5B	62.7M	118.1B	111.8B	126B	109.3B	105.3B	119.8B	114.8B
Shareholders' equity	443.6B	463.7B	492.8B	509.4B	366.1M	568.4B	591.1B	596.4B	621.6B	637.4B	673B	700.3B
Total debt	—	—	—	—	—	—	—	—	—	—	—	—
Net debt	—	—	—	—	—	—	—	—	—	—	—	—

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	587M	13.3B	31.4B	39.7B	62.6B	65.9B	83.1B	132B	84.9B	67.3B
Depreciation & amortization	516M	520M	1.4B	3.7B	4.9B	6.3B	7.1B	7.7B	9.2B	10.8B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	1.2B	14.1B	6.2B	-19.6B	-8.2B	-1.9B	11.5B	-18.6B	446M	213M
Operating cash flow	5B	28.5B	41.2B	34B	83.8B	102.3B	124B	146.5B	99.1B	76.1B
Capital expenditure	-151M	-897M	-1.1B	-912M	-1.1B	-1.7B	-724M	-2.4B	-607M	—
Investing cash flow	32.3B	-1.8B	11.9B	-31.2B	-33.4B	-80B	-20.3B	-113.2B	-42.9B	-90.3B
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-5M	0	-197M	-1.7B	-2.5B	-3.3B	-3.9B	-4.1B	-4.6B	-4.5B
Net change in cash	37.3B	26.7B	52.9B	1.1B	47.8B	18.9B	99.8B	29.1B	51.6B	-18.8B
Free cash flow	2.3B	24.1B	33.7B	24B	66.2B	70B	95.5B	126.6B	73.8B	69.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 04
Net income	8.2B
Depreciation & amortization	968.8M
Stock-based compensation	—
Change in working capital	-393.2M
Operating cash flow	7.9B
Capital expenditure	-772.9M
Investing cash flow	-3.9B
Dividends paid	—
Share repurchases	—
Financing cash flow	—
Net change in cash	4B
Free cash flow	7.4B

Gravity Co., Ltd. Sponsored ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement