Neowiz Holdings네오위즈홀딩스

Neowiz Holdings shows a profitable first half of 2026 after a strong 2025, but its shares have fallen about 14% over the past year.

Neowiz Holdings is a holding company whose main business is game development and publishing across PC, console and mobile. Trailing results to H1 2026 show revenue of ₩442B, operating income of ₩43B and net income of ₩22B, below the full-year 2025 peak, with a low debt load and ₩98B of cash. The share price of ₩19,780 sits near the lower half of its 52-week range.

What stands out

• Full-year 2025 was the strongest recent year: revenue of ₩437B, operating income of ₩55B and net income of ₩34B, versus a net loss in 2024 and 2022.
• Trailing operating margin is 9.8% and net margin 4.9%, both lower than the 12.6% operating margin reported for 2025.
• Borrowings are very small at about ₩25M, and liabilities are 18.9% of equity, while cash is ₩98B.
• The valuation metrics given are low: P/E of 7.4, P/B of 0.5 and a 2.5% dividend yield, while the data's DCF base value is ₩17,158 and bull value ₩63,042.
• Recent filings include a merger decision in June 2026, a CEO change in August 2026, buyback trust contracts and a treasury share sale decision on 20 October 2026. No recent news headlines were included in the data.

What to watch

• The treasury share sale decided on 20 October 2026 and how it is executed.
• The outcome and details of the June 2026 merger decision, including the amended attachment.
• Foreign ownership fell from 4.0% to 3.7% over the past 60 days, and retail investors were net sellers over the last 20 days, while institutions were net buyers.