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Shift Up Valuation Multiples

Discover revenue and EBITDA valuation multiples for Shift Up and similar public comparables like Boyaa Interactive, Remedy Entertainment, and Trophy Games.

Shift Up Overview

About Shift Up

Shift Up Corp is a game design and development studio that covers a wide range of areas from game production to promotional videos and music production, based on illustrations and solid planning and programming capabilities.


Founded

HQ

South Korea
Employees

n/a

Website

shiftup.co.kr

Financials

LTM Revenue $197M

LTM EBITDA $129M

EV

$1.1B

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Shift Up Financials

As of September 2025, Shift Up reported last 12-month revenue of $197M and EBITDA of $129M.

In the same period, Shift Up achieved $112M in LTM net income.

See Shift Up valuation multiples based on analyst estimates

Shift Up P&L

In the most recent fiscal year, Shift Up reported revenue of $157M and EBITDA of $129M.

Shift Up expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

See Shift Up valuation multiples based on analyst estimates
LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $197M XXX $157M XXX XXX XXX
Gross Profit n/a XXX $157M XXX XXX XXX
Gross Margin n/a XXX 100% XXX XXX XXX
EBITDA $129M XXX $129M XXX XXX XXX
EBITDA Margin 66% XXX 82% XXX XXX XXX
EBIT $126M XXX $107M XXX XXX XXX
EBIT Margin 64% XXX 68% XXX XXX XXX
Net Profit $112M XXX $104M XXX XXX XXX
Net Margin 57% XXX 66% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Shift Up Stock Performance

Shift Up has current market cap of KRW 2.21T (or $1.5B), and EV of KRW 1.56T (or $1.1B).

Market Cap Evolution

Shift Up Stock Data

As of October 17, 2025, Shift Up's stock price is KRW 38050 (or $27).

See Shift Up trading valuation data
EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.1B $1.5B XXX XXX XXX XXX $1.97

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Shift Up Valuation Multiples

Shift Up's trades at 7.0x EV/Revenue multiple, and 8.4x EV/EBITDA.

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Shift Up Financial Valuation Multiples

As of October 17, 2025, Shift Up has market cap of $1.5B and EV of $1.1B.

Equity research analysts estimate Shift Up's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Shift Up has a P/E ratio of 13.7x.

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $1.5B XXX $1.5B XXX XXX XXX
EV (current) $1.1B XXX $1.1B XXX XXX XXX
EV/Revenue 5.5x XXX 7.0x XXX XXX XXX
EV/EBITDA 8.4x XXX 8.4x XXX XXX XXX
EV/EBIT 8.7x XXX 10.2x XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E 13.7x XXX 14.9x XXX XXX XXX
EV/FCF 16.4x XXX 14.4x XXX XXX XXX

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Shift Up Margins & Growth Rates

Shift Up's last 12 month revenue growth is -12%

Shift Up's revenue per employee in the last FY averaged n/a, while opex per employee averaged n/a for the same period.

Shift Up's rule of 40 is 58% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Shift Up's rule of X is 35% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Shift Up Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth -12% XXX 2% XXX XXX XXX
EBITDA Margin 66% XXX 82% XXX XXX XXX
EBITDA Growth -14% XXX 28% XXX XXX XXX
Rule of 40 58% XXX 70% XXX XXX XXX
Bessemer Rule of X XXX XXX 35% XXX XXX XXX
Revenue per Employee XXX XXX n/a XXX XXX XXX
Opex per Employee XXX XXX n/a XXX XXX XXX
S&M Expenses to Revenue XXX XXX 3% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 32% XXX XXX XXX

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Shift Up Public Comps

See public comps and valuation multiples for Gaming - Console & PC and Gaming - Mobile comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Azerion Group XXX XXX XXX XXX XXX XXX
PlaySide Studios XXX XXX XXX XXX XXX XXX
Trophy Games XXX XXX XXX XXX XXX XXX
Remedy Entertainment XXX XXX XXX XXX XXX XXX
Boyaa Interactive XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Shift Up M&A and Investment Activity

Shift Up acquired  XXX companies to date.

Last acquisition by Shift Up was  XXXXXXXX, XXXXX XXXXX XXXXXX . Shift Up acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Shift Up

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Shift Up

Where is Shift Up headquartered? Shift Up is headquartered in South Korea.
Who is the CEO of Shift Up? Shift Up's CEO is Mr. Hyung - Hyun Kim.
Is Shift Up publicy listed? Yes, Shift Up is a public company listed on KRX.
What is the stock symbol of Shift Up? Shift Up trades under 462870 ticker.
When did Shift Up go public? Shift Up went public in 2024.
Who are competitors of Shift Up? Similar companies to Shift Up include e.g. Azerion Group, PlaySide Studios, Trophy Games, Remedy Entertainment.
What is the current market cap of Shift Up? Shift Up's current market cap is $1.5B
What is the current revenue of Shift Up? Shift Up's last 12 months revenue is $197M.
What is the current revenue growth of Shift Up? Shift Up revenue growth (NTM/LTM) is -12%.
What is the current EV/Revenue multiple of Shift Up? Current revenue multiple of Shift Up is 5.5x.
Is Shift Up profitable? Yes, Shift Up is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Shift Up? Shift Up's last 12 months EBITDA is $129M.
What is Shift Up's EBITDA margin? Shift Up's last 12 months EBITDA margin is 66%.
What is the current EV/EBITDA multiple of Shift Up? Current EBITDA multiple of Shift Up is 8.4x.
What is the current FCF of Shift Up? Shift Up's last 12 months FCF is $66.7M.
What is Shift Up's FCF margin? Shift Up's last 12 months FCF margin is 34%.
What is the current EV/FCF multiple of Shift Up? Current FCF multiple of Shift Up is 16.4x.

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