Fantagio판타지오

Fantagio shows deep losses and a sharp revenue drop in 2025, with a rights offering pending and the share price down 47% over the past year.

Fantagio is an entertainment company in Seoul focused on artist management and record production, earning revenue from drama, film and advertising appearances, music, concerts and merchandise. Its 2025 filings show revenue of ₩38.2B, down 47% from 2024, an operating loss of ₩8.0B and a net loss of ₩9.2B. The shares closed at ₩1,446, giving a market value of about ₩21.8B.

What stands out

• Revenue fell from ₩72.3B in 2024 to ₩38.2B in 2025, and operating margin was -21%, compared with -2.1% a year earlier.
• Cash of ₩11.0B is below borrowings of ₩14.5B, and liabilities are 80.8% of equity.
• Free cash flow was positive at ₩12.7B in the latest period despite the net loss, though the data does not explain the source of this figure.
• The DCF model gives a base value of ₩177 against the ₩1,446 close, a bear value of ₩33 and a bull value of ₩445; the model is not a forecast.
• Recent headlines and filings center on a ₩16.9B rights offering whose payment schedule moved to December, plus a change in fiscal year-end.

What to watch

• Timing and completion of the rights offering, including the payment schedule moved to December.
• The fiscal year-end change and any corrected or audited figures in upcoming filings.
• Whether revenue recovers from the 2025 decline, given the ongoing operating and net losses.