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NEXON Overview
About NEXON
Nexon is a South Korean online game developer and publisher, founded in 1994 in Korea by Kim Jung-ju. In 2005, the company moved its headquarters to Tokyo, Japan, and has operations in Korea, the US, Taiwan, and Thailand. The company’s most notable franchises are MapleStory, Dungeon & Fighter, Sudden Attack, and KartRider. Nexon has been the publisher for EA’s FC Online game franchise in Korea and Japan since 2013. Nexon acquired an independent game developer, Embark Studios AB, located in Stockholm, Sweden, in 2019.
Founded
2002
HQ
Employees
6.6K
Website
Financials (LTM)
EV
$11B
NEXON Financials
NEXON reported last 12-month revenue of $3B and EBITDA of $961M.
In the same LTM period, NEXON generated $2B in gross profit, $961M in EBITDA, and $665M in net income.
Revenue (LTM)
NEXON P&L
In the most recent fiscal year, NEXON reported revenue of $3B and EBITDA of $952M.
NEXON expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 59% | XXX | 57% | XXX | XXX | XXX |
| EBITDA | $961M | XXX | $952M | XXX | XXX | XXX |
| EBITDA Margin | 30% | XXX | 31% | XXX | XXX | XXX |
| EBIT Margin | 27% | XXX | 26% | XXX | XXX | XXX |
| Net Profit | $665M | XXX | $601M | XXX | XXX | XXX |
| Net Margin | 21% | XXX | 19% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
NEXON Stock Performance
NEXON has current market cap of $14B, and enterprise value of $11B.
Market Cap Evolution
NEXON's stock price is $17.68.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $11B | $14B | 0.3% | XXX | XXX | XXX | $0.76 |
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Start Free TrialNEXON Valuation Multiples
NEXON trades at 3.4x EV/Revenue multiple, and 11.3x EV/EBITDA.
EV / Revenue (LTM)
NEXON Financial Valuation Multiples
As of April 19, 2026, NEXON has market cap of $14B and EV of $11B.
Equity research analysts estimate NEXON's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
NEXON has a P/E ratio of 21.0x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $14B | XXX | $14B | XXX | XXX | XXX |
| EV (current) | $11B | XXX | $11B | XXX | XXX | XXX |
| EV/Revenue | 3.4x | XXX | 3.5x | XXX | XXX | XXX |
| EV/EBITDA | 11.3x | XXX | 11.4x | XXX | XXX | XXX |
| EV/EBIT | 12.3x | XXX | 13.4x | XXX | XXX | XXX |
| EV/Gross Profit | 5.7x | XXX | 6.1x | XXX | XXX | XXX |
| P/E | 21.0x | XXX | 23.3x | XXX | XXX | XXX |
| EV/FCF | 8.9x | XXX | 7.6x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified NEXON Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
NEXON Margins & Growth Rates
NEXON's revenue in the last 12 month grew by 8%.
NEXON's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.2M for the same period.
NEXON's rule of 40 is 48% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
NEXON's rule of X is 72% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
NEXON Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 8% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Margin | 30% | XXX | 31% | XXX | XXX | XXX |
| EBITDA Growth | 15% | XXX | 15% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 48% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 72% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 7% | XXX | 8% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 33% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 5% | XXX | 6% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 32% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
NEXON Public Comps
See public comps and valuation multiples for other Gaming - Mobile and Gaming - Console & PC comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| NEXON | XXX | XXX | XXX | XXX | XXX | XXX |
| Bilibili | XXX | XXX | XXX | XXX | XXX | XXX |
| Konami | XXX | XXX | XXX | XXX | XXX | XXX |
| Kunlun | XXX | XXX | XXX | XXX | XXX | XXX |
| Capcom | XXX | XXX | XXX | XXX | XXX | XXX |
| Giant Network Group Co. | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
NEXON M&A Activity
NEXON acquired XXX companies to date.
Last acquisition by NEXON was on XXXXXXXX, XXXXX. NEXON acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by NEXON
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialNEXON Investment Activity
NEXON invested in XXX companies to date.
NEXON made its latest investment on XXXXXXXX, XXXXX. NEXON invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by NEXON
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout NEXON
| When was NEXON founded? | NEXON was founded in 2002. |
| Where is NEXON headquartered? | NEXON is headquartered in Japan. |
| How many employees does NEXON have? | As of today, NEXON has over 6K employees. |
| Who is the CEO of NEXON? | NEXON's CEO is Junghun Lee. |
| Is NEXON publicly listed? | Yes, NEXON is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of NEXON? | NEXON trades under 3659 ticker. |
| When did NEXON go public? | NEXON went public in 2011. |
| Who are competitors of NEXON? | NEXON main competitors are Bilibili, Konami, Kunlun, Capcom. |
| What is the current market cap of NEXON? | NEXON's current market cap is $14B. |
| What is the current revenue of NEXON? | NEXON's last 12 months revenue is $3B. |
| What is the current revenue growth of NEXON? | NEXON revenue growth (NTM/LTM) is 8%. |
| What is the current EV/Revenue multiple of NEXON? | Current revenue multiple of NEXON is 3.4x. |
| Is NEXON profitable? | Yes, NEXON is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of NEXON? | NEXON's last 12 months EBITDA is $961M. |
| What is NEXON's EBITDA margin? | NEXON's last 12 months EBITDA margin is 30%. |
| What is the current EV/EBITDA multiple of NEXON? | Current EBITDA multiple of NEXON is 11.3x. |
| What is the current FCF of NEXON? | NEXON's last 12 months FCF is $1B. |
| What is NEXON's FCF margin? | NEXON's last 12 months FCF margin is 38%. |
| What is the current EV/FCF multiple of NEXON? | Current FCF multiple of NEXON is 8.9x. |
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