NCsoft Corp (036570) - Net Assets
Based on the latest financial reports, NCsoft Corp (036570) has net assets worth ₩3.37 Trillion KRW (≈ $2.28 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₩4.33 Trillion ≈ $2.94 Billion USD) and total liabilities (₩962.71 Billion ≈ $652.41 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check 036570 tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₩3.37 Trillion |
| % of Total Assets | 77.78% |
| Annual Growth Rate | 13.29% |
| 5-Year Change | 6.96% |
| 10-Year Change | 77.81% |
| Growth Volatility | 17.14 |
NCsoft Corp - Net Assets Trend (2002–2025)
This chart illustrates how NCsoft Corp's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of NCsoft Corp to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for NCsoft Corp (2002–2025)
The table below shows the annual net assets of NCsoft Corp from 2002 to 2025. For live valuation and market cap data, see NCsoft Corp market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | ₩3.37 Trillion ≈ $2.28 Billion |
+10.02% |
| 2024-12-31 | ₩3.06 Trillion ≈ $2.08 Billion |
-5.82% |
| 2023-12-31 | ₩3.25 Trillion ≈ $2.20 Billion |
+1.70% |
| 2022-12-31 | ₩3.20 Trillion ≈ $2.17 Billion |
+1.50% |
| 2021-12-31 | ₩3.15 Trillion ≈ $2.14 Billion |
+0.21% |
| 2020-12-31 | ₩3.14 Trillion ≈ $2.13 Billion |
+25.18% |
| 2019-12-31 | ₩2.51 Trillion ≈ $1.70 Billion |
+5.60% |
| 2018-12-31 | ₩2.38 Trillion ≈ $1.61 Billion |
-12.83% |
| 2017-12-31 | ₩2.73 Trillion ≈ $1.85 Billion |
+43.98% |
| 2016-12-31 | ₩1.90 Trillion ≈ $1.28 Billion |
+5.96% |
| 2015-12-31 | ₩1.79 Trillion ≈ $1.21 Billion |
+30.05% |
| 2014-12-31 | ₩1.38 Trillion ≈ $932.22 Million |
+18.71% |
| 2013-12-31 | ₩1.16 Trillion ≈ $785.28 Million |
+13.54% |
| 2012-12-31 | ₩1.02 Trillion ≈ $691.62 Million |
+17.51% |
| 2011-12-31 | ₩868.46 Billion ≈ $588.55 Million |
+6.97% |
| 2010-12-31 | ₩811.88 Billion ≈ $550.20 Million |
+25.28% |
| 2009-12-31 | ₩648.05 Billion ≈ $439.17 Million |
+52.69% |
| 2008-12-31 | ₩424.43 Billion ≈ $287.63 Million |
-5.51% |
| 2007-12-31 | ₩449.19 Billion ≈ $304.41 Million |
+6.63% |
| 2006-12-31 | ₩421.27 Billion ≈ $285.49 Million |
+6.47% |
| 2005-12-31 | ₩395.68 Billion ≈ $268.15 Million |
+19.19% |
| 2004-12-31 | ₩331.96 Billion ≈ $224.97 Million |
+52.64% |
| 2003-12-31 | ₩217.48 Billion ≈ $147.39 Million |
+13.76% |
| 2002-12-31 | ₩191.18 Billion ≈ $129.56 Million |
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Equity Component Analysis
This analysis shows how different components contribute to NCsoft Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 27562.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₩3.67 Trillion | 109.04% |
| Total Equity | ₩3.36 Trillion | 100.00% |
NCsoft Corp Competitors by Market Cap
The table below lists competitors of NCsoft Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Enaex S.A
SN:ENAEX
|
$3.42 Billion |
|
Krishna Institute of Medical Sciences Limited
NSE:KIMS
|
$3.42 Billion |
|
National Storage Affiliates Trust
NYSE:NSA
|
$3.42 Billion |
|
Inner Mongolia Yuan Xing Energy Co Ltd
SHE:000683
|
$3.42 Billion |
|
CITIC Heavy Industries Co Ltd
SHG:601608
|
$3.41 Billion |
|
XJ Electric Co Ltd
SHE:000400
|
$3.41 Billion |
|
Shanghai AtHub Co Ltd
SHG:603881
|
$3.41 Billion |
|
MeiHua Holdings Group Co Ltd
SHG:600873
|
$3.41 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in NCsoft Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,058,458,965,780 to 3,364,869,232,960, a change of 306,410,267,180 (10.0%).
- Net income of 346,670,401,230 contributed positively to equity growth.
- Dividend payments of 28,314,463,280 reduced retained earnings.
- Share repurchases of 987,647,330 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₩346.67 Billion | +10.3% |
| Dividends Paid | ₩28.31 Billion | -0.84% |
| Share Repurchases | ₩987.65 Million | -0.03% |
| Other Changes | ₩-10.96 Billion | -0.33% |
| Total Change | ₩- | 10.02% |
Book Value vs Market Value Analysis
This analysis compares NCsoft Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.49x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.02x to 1.49x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | ₩128055.83 | ₩258500.00 | x |
| 2018-12-31 | ₩114979.93 | ₩258500.00 | x |
| 2019-12-31 | ₩121275.05 | ₩258500.00 | x |
| 2020-12-31 | ₩152449.05 | ₩258500.00 | x |
| 2021-12-31 | ₩153382.17 | ₩258500.00 | x |
| 2022-12-31 | ₩157391.12 | ₩258500.00 | x |
| 2023-12-31 | ₩160024.95 | ₩258500.00 | x |
| 2024-12-31 | ₩153070.43 | ₩258500.00 | x |
| 2025-12-31 | ₩173512.13 | ₩258500.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently NCsoft Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.30%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 23.01%
- • Asset Turnover: 0.35x
- • Equity Multiplier: 1.29x
- Recent ROE (10.30%) is below the historical average (14.81%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 27.78% | 34.31% | 0.62x | 1.30x | ₩33.99 Billion |
| 2003 | 14.56% | 18.71% | 0.67x | 1.15x | ₩9.92 Billion |
| 2004 | 23.41% | 26.84% | 0.76x | 1.14x | ₩44.52 Billion |
| 2005 | 16.95% | 19.68% | 0.74x | 1.16x | ₩27.34 Billion |
| 2006 | 9.10% | 11.24% | 0.67x | 1.21x | ₩-3.78 Billion |
| 2007 | 10.14% | 13.66% | 0.60x | 1.23x | ₩609.79 Million |
| 2008 | 6.19% | 7.39% | 0.67x | 1.25x | ₩-15.76 Billion |
| 2009 | 29.02% | 29.02% | 0.75x | 1.34x | ₩120.72 Billion |
| 2010 | 20.88% | 25.65% | 0.62x | 1.31x | ₩86.83 Billion |
| 2011 | 14.11% | 19.82% | 0.55x | 1.30x | ₩35.12 Billion |
| 2012 | 15.57% | 20.68% | 0.57x | 1.32x | ₩55.74 Billion |
| 2013 | 13.91% | 20.98% | 0.51x | 1.30x | ₩44.63 Billion |
| 2014 | 16.90% | 27.42% | 0.49x | 1.25x | ₩93.90 Billion |
| 2015 | 9.35% | 19.73% | 0.38x | 1.25x | ₩-11.56 Billion |
| 2016 | 14.44% | 27.68% | 0.42x | 1.25x | ₩83.71 Billion |
| 2017 | 16.20% | 25.07% | 0.50x | 1.30x | ₩168.84 Billion |
| 2018 | 17.66% | 24.38% | 0.58x | 1.24x | ₩181.41 Billion |
| 2019 | 14.33% | 21.05% | 0.51x | 1.34x | ₩108.26 Billion |
| 2020 | 18.70% | 24.31% | 0.59x | 1.30x | ₩273.24 Billion |
| 2021 | 12.60% | 17.19% | 0.50x | 1.46x | ₩82.01 Billion |
| 2022 | 13.63% | 16.94% | 0.58x | 1.39x | ₩116.09 Billion |
| 2023 | 6.53% | 11.92% | 0.41x | 1.35x | ₩-112.83 Billion |
| 2024 | 3.08% | 5.97% | 0.40x | 1.29x | ₩-211.63 Billion |
| 2025 | 10.30% | 23.01% | 0.35x | 1.29x | ₩10.18 Billion |
Industry Comparison
This section compares NCsoft Corp's net assets metrics with peer companies in the Electronic Gaming & Multimedia industry.
Industry Context
- Industry: Electronic Gaming & Multimedia
- Average net assets among peers: $514,952,749,331
- Average return on equity (ROE) among peers: -0.63%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| NCsoft Corp (036570) | ₩3.37 Trillion | 27.78% | 0.29x | $3.41 Billion |
| Barunson Entertainment & Arts Corporation (035620) | $76.18 Billion | -24.70% | 0.35x | $12.70 Million |
| HANBIT SOFT Inc (047080) | $14.91 Billion | 16.05% | 1.89x | $22.44 Million |
| Actoz Soft Co.Ltd (052790) | $115.47 Billion | -1.82% | 0.28x | $34.65 Million |
| JOYCITY Corporation (067000) | $33.90 Billion | -33.89% | 0.49x | $53.25 Million |
| Com2uS Corporation (078340) | $1.07 Trillion | 3.41% | 0.51x | $196.62 Million |
| SundayToz Corp (123420) | $85.27 Billion | 56.73% | 0.29x | $43.98 Million |
| Nhn Entertain (181710) | $2.10 Trillion | 5.57% | 0.44x | $860.73 Million |
| DoubleU Games Co Ltd (192080) | $1.01 Trillion | -13.14% | 0.23x | $871.49 Million |
| Devsisters corporation (194480) | $134.84 Billion | -13.88% | 0.11x | $124.02 Million |
About NCsoft Corp
NC Corporation, together with its subsidiaries, develops and publishes online games in Korea, Japan, Taiwan, the United States of America, Europe, and Canada. It also engages in software development, call center management, professional baseball team, creation of 3D resources, and mutual fund activities. The company was formerly known as NCSOFT Corporation and change its name to NC Corporation in… Read more