Gravity Co., Ltd. (GRVY) intrinsic value & 10-year financials

Gravity Co., Ltd. (GRVY) has a Graham intrinsic value of $405,928.90 per share. At $66.31 on Oct 27, 2026, the stock trades 100% below that value. Over the last 10 fiscal years revenue grew 34.1% a year to $500.8B, with an average return on invested capital of 21.9%.

Graham intrinsic value
$405,928.90
Share price (Oct 27, 2026)
$66.31
Price vs Graham value
100% below
Market cap
$460.8M
Revenue (FY2024)
$500.8B
Revenue growth (10-yr CAGR)
34.1%
ROIC (10-yr avg)
21.9%
Free cash flow (FY2024)
$77.9B

GRVY 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2024 $500.8B $84.9B $12,221.00 $77.9B 17.0% 13.2%
FY2023 $725.5B $132.0B $18,999.00 $130.0B 22.1% 31.6%
FY2022 $463.6B $83.1B $11,968.00 $97.5B 22.6% 27.4%
FY2021 $413.9B $65.9B $9,490.00 $72.4B 23.4% 30.3%
FY2020 $406.0B $62.6B $9,023.00 $68.8B 21.8% 42.9%
FY2019 $361.0B $39.7B $5,738.00 $25.4B 13.5% 39.4%
FY2018 $286.8B $31.4B $4,525.00 $34.8B 11.6% 50.9%
FY2017 $141.6B $13.3B $1,917.00 $25.2B 9.9% 34.6%
FY2016 $51.4B $250.0M $95.00 $2.2B 6.7% 5.6%
FY2015 $35.7B -$17.0B — -$6.4B -48.3% -56.5%

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

GRAVITY Co., Ltd. is a consistent compounder, expanding top-line revenue at 34.1% annually over the past decade.

GRAVITY Co., Ltd. 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.

GRAVITY Co., Ltd. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, GRAVITY Co., Ltd. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $405928.90 per share.

GRVY stock: frequently asked questions

What is the intrinsic value of Gravity Co., Ltd. (GRVY) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 15.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, GRVY's intrinsic value is about $405,928.90 per share.

Is GRVY stock undervalued?

At $66.31 (close on Oct 27, 2026), GRVY trades 100% below its Graham value of $405,928.90. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

How fast has Gravity Co., Ltd. grown?

Revenue went from $35.7B in fiscal 2015 to $500.8B in fiscal 2024, a compound annual growth rate of 34.1%. Net income was $84.9B in fiscal 2024.

Does Gravity Co., Ltd. generate free cash flow?

Gravity Co., Ltd. generated $77.9B of free cash flow (operating cash flow minus capital expenditures) in fiscal 2024. Free cash flow was positive in 9 of the last 10 reported years.

What is GRVY's return on invested capital?

Average ROIC over the last 10 fiscal years was 21.9%, and average return on equity was 22.7%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this GRVY data come from?

From Gravity Co., Ltd.'s annual 10-K filings on SEC EDGAR, most recently filed Apr 24, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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