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    Technology

  3. •

    Software - Application
Pearl Abyss Corp.

Pearl Abyss Corp.

263750.KQ
Pearl Abyss Corp.KR flagKOSDAQ
37,050.00
KRW
+600.00
- -
2.28TMarket Cap
Pearl Abyss Corp.
263750.KQ
(KOSDAQ)

Recent

price

37,050.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2016
2017
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
676.98
2,033.24
997.14
6,908.67
8,840.08
1,604.13
6,618.1
6,296.52
5,438.75
5,571.79
5,951.62
9,937.59
Revenue per Share
490.8
1,115.2
280.4
2,499.6
2,600.4
331
973
-702
248
982
-137
2,426.77
Basic EPS, GAAP
438.24
951.03
410.72
2,413.35
2,073.97
422.88
258.81
-829.02
377.26
-146.22
316.9
44.83
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
400.12
1,656.24
1,735.39
4,047.96
6,506.43
1,629.91
9,114.02
7,985.87
8,233.51
9,197.66
9,064.69
11,636.82
Book Value per Share
427.89
1,699.85
5,158.11
2,053.37
4,876.17
1,203.92
6,828.49
7,640.83
8,121.53
9,081.82
8,825.96
15,472.35
Tangible Book Value per Share
50
46
53
59
61
305
61
61
61
61
61
61
Basic Weighted Avg Shares
33,690
92,730
52,384
404,764
535,937
488,769
403,789
385,680
333,485
342,385
365,565
610,379
Sales/Revenue/Turnover
83.47
64.24
41.34
41.55
28.1
32.18
10.65
4.26
-4.89
-3.55
-4.05
33.18
Operating Margin (%)
393
1,055
1,002
4,803
17,370
21,913
24,349
25,697
26,049
25,190
24,142
23,597
Depreciation Expense
24,425
50,861
14,731
146,446
157,651
100,854
59,366
-43,000
15,206
60,344
-8,415
149,055
Net Income, GAAP
13.99
12.87
16.8
16.49
13.04
28.96
23.63
- -
31.32
22.29
- -
26.91
Effective Tax Rate (%)
72.5
54.85
28.12
36.18
29.42
20.63
14.7
-11.15
4.56
17.62
-2.3
24.42
Profit Margin (%)
31,290
73,421
260,120
239,412
326,856
300,141
447,569
320,291
266,888
320,104
309,145
633,367
Working Capital
- -
- -
- -
136,282
116,215
33,222
304,210
235,309
84,825
96,956
69,524
75,606
LT Debt
21,632
78,548
275,197
408,026
589,017
636,911
718,997
699,304
724,990
805,975
799,103
961,740
Total Equity
- -
95.18
9.96
31.46
19.11
14.61
3.54
- -
-1.11
-0.99
- -
14.84
Return on Invested Capital (%)
- -
105.57
17.57
58.58
34.05
17.75
8.25
- -
3.05
9.25
- -
20.73
Return on Capital (%)
- -
106.57
17.67
89.21
49.92
22.64
11.28
-8.23
3.06
11.28
-1.5
23.28
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
5,191
5,205
2,110
LT Borrowings
56,200
56,200
71,200
LT Finance Leases
13,825
13,324
4,406
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
61
61
61
Market Capitalization
2,188,983
2,309,392
4,238,061

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
439,535
444,796
990,820
Cash, Cash Equivalents & STI
350,261
367,784
356,319
Accounts Receivable, Net
45,147
36,704
277,198
Inventories
96
238
222
Total Current Liabilities
134,438
135,652
357,453
Payables & Accruals
- -
- -
- -
ST Debt
5,191
5,205
2,110
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
63.84%
4.83%
-0.85%
Free Cash Flow
-51.5%
-222.07%
-316.63%
Net Income, GAAP
73.69%
-33.21%
-113.95%
Sales/Revenue/Turnover
80.21%
-5.19%
6.77%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
85,440
81,761
79,453
95,730
342,385
2025
63,225
79,562
106,818
95,500
365,565
2026
328,499
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
208
149
-127
- -
982
2025
8
-369.59
472.08
- -
-137
2026
2,571.75
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Pearl Abyss Corp. is a South Korean video game developer and publisher primarily engaged in the development and sale of online games and related software. The company specializes in MMORPGs and operates through its Game and Other Departments business divisions. Its main products include the globally popular MMORPG Black Desert Online, along with its mobile and console versions, and the upcoming open-world action-adventure game Crimson Desert. Pearl Abyss also develops and sells server and network engines for online games, provides server and line services, and offers investment and management consulting services. Founded in 2010 and headquartered in Gwacheon-si, South Korea, Pearl Abyss serves markets worldwide with direct game publishing operations in regions including North America, Europe, Japan, and South America. In the most recent strategic developments, Pearl Abyss has resumed full-scale development on DokeV, an anticipated new title, reallocating significant development resources to this project. The company plans to launch Crimson Desert in late 2025, aiming to bolster its position in the AAA game segment with a high-quality release backed by robust marketing and global gaming event participation. Pearl Abyss also unveiled a comprehensive 2024 content roadmap for all Black Desert platforms, including a new expansion titled Land of the Morning Light: Seoul featuring culturally significant historical settings and a new swordsman class. The company is enhancing gameplay with quality of life improvements and balance adjustments based on community feedback. Additionally, it has introduced new character classes, expansion content, and various in-game updates across its flagship titles to sustain player engagement. Despite a challenging financial year with reported operating losses primarily attributed to increased labor and advertising expenses, Pearl Abyss is positioning itself for growth with upcoming product launches and continued global expansion efforts. Pearl Abyss operates in the video game industry, targeting MMO gamers and broader global gaming audiences. It maintains subsidiaries such as Vic Game Studio, focused on mobile RPG development, and has diversified into licensed game publishing with titles like Black Clover Mobile. Its geographic operations span South Korea, North America, Europe, Japan, China, and other international markets, with significant direct service presence in key regions since 2014. The company’s offerings encompass game software development, publishing, server technology solutions, and consulting, supporting a robust ecosystem around its gaming IPs. Pearl Abyss is recognized for self-publishing its titles, diverging from traditional third-party publishing models, which enhances control over its global operations and content delivery. This strategic approach supports its ongoing efforts to innovate and expand within the competitive global gaming market.