DoubleUGames더블유게임즈

DoubleUGames remains highly profitable on a trailing basis, but the shares have fallen 10% over the past month and 14% over three months.

The company develops social casino and casual mobile games and runs an iGaming business through SuprNation AB. Trailing twelve-month revenue to H1 2026 is ₩801.6B with operating income of ₩261.6B, a 32.6% operating margin, and net cash-rich balance sheet with cash of ₩733.0B against borrowings of ₩43.8B. At ₩52,400, the stock trades at about 6.2 times earnings and 0.8 times book, below its ₩76,500 52-week high.

What stands out

• Trailing revenue of ₩801.6B is above full-year 2025 revenue of ₩719.9B, which grew 13.6% year on year.
• Operating margin fell from 39.3% in 2024 to 32.2% in 2025 and is 32.6% on a trailing basis.
• Net income was ₩131.3B in 2025, down from ₩187.2B in 2024, while trailing net income is ₩179.4B.
• Discounted cash flow fair value estimates in the data are ₩151,528 (bear), ₩209,101 (base) and ₩301,627 (bull), far above the current price; these are model outputs, not forecasts.
• Foreign ownership rose from 21.3% to 22% over 60 days, while institutions and retail were net sellers over the last 20 trading days.

What to watch

• Results and the half-year report for Jun 2026 were filed in August; the data does not include the content of the full reports beyond the headline figures.
• The dividend yield is 2.3%, and the data does not state a dividend policy or payment date.
• The data names no specific risks beyond the filings list; the share price has been weak over the last one and three months, and the 2022 net loss shows earnings can swing sharply.