NCNC

NC's share price has fallen about 13% over three months, while trailing profit is strong on a one-off-looking basis and the stock trades at a low multiple.

NC is a Korean game maker known for the Lineage franchise. Trailing twelve-month revenue to H1 2026 is about ₩2.09T with operating income of about ₩283B and net income of about ₩618B, well above operating profit, so the net figure may include non-operating items the data does not explain. The shares closed at ₩201,500, roughly 41% above the 52-week low of ₩176,100 and about 41% below the 52-week high of ₩343,500.

What stands out

• Trailing operating margin is 13.5%, a clear recovery from 1.1% in 2025 and a loss in 2024, though still below the 21.7% seen in 2022.
• Trailing net income of about ₩618B is more than double operating income, which the data does not explain; the filings would need checking for the source.
• Valuation metrics are low: P/E about 7, P/B about 1.2, EV/EBITDA about 8.5, and a dividend yield of 0.6%.
• Over the 20 trading days shown, foreign investors were net sellers of about ₩32B while institutions were net buyers of about ₩38B; foreign ownership rose slightly to 38.4%.
• Recent filings are mostly investor relations events and shareholding reports; the data shows no news headlines for the period.

What to watch

• The next half-year or quarterly results and whether operating margin holds above the 2025 level.
• The reason behind the gap between operating income and net income in the trailing figures, as shown in upcoming filings.
• Whether the share price stays inside the 52-week range and whether foreign selling continues; the data's DCF base value of ₩125,472 sits well below the current price, a model output and not a forecast.