NEXON Co (TSE:3659) Cyclically Adjusted PS Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:3659 NEXON Co Ltd TSE:3659
93 GF Score
Price 円3,200.00
GF Value 円3,390.43
Valuation Fairly Valued
! 2 Warning Signs
View Full Analysis

What is NEXON Co Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


NEXON Co  (TSE:3659) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


NEXON Co Cyclically Adjusted PS Ratio Related Terms


NEXON Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for NEXON Co's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NEXON Co Cyclically Adjusted PS Ratio Chart

NEXON Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9.81 11.29 8.59 6.97 10.01

NEXON Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.68 8.37 9.53 7.11 5.04

TSE:3659 vs NTES, TTWO, RBLX: Cyclically Adjusted PS Ratio Comparison

For the Electronic Gaming & Multimedia subindustry, NEXON Co's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


NEXON Co Cyclically Adjusted PS Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, NEXON Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where NEXON Co's Cyclically Adjusted PS Ratio falls into.


TSE:3659
93GF Score
NEXON Co Ltd TSE:3659
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

NEXON Co Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

NEXON Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, NEXON Co's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=153.693/113.6000*113.6000
=153.693

Current CPI (Jun. 2026) = 113.6000.

NEXON Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 49.962 98.000 57.915
201612 48.807 98.400 56.346
201703 84.387 98.100 97.720
201706 52.861 98.500 60.965
201709 67.319 98.800 77.403
201712 59.706 99.400 68.235
201803 100.690 99.200 115.306
201806 53.449 99.200 61.208
201809 76.991 99.900 87.549
201812 51.062 99.700 58.181
201903 103.147 99.700 117.528
201906 59.662 99.800 67.912
201909 57.881 100.100 65.687
201912 55.333 100.500 62.546
202003 93.311 100.300 105.684
202006 72.310 99.900 82.226
202009 88.658 99.900 100.816
202012 74.889 99.300 85.674
202103 98.031 99.900 111.475
202106 62.182 99.500 70.994
202109 84.201 100.100 95.557
202112 58.595 100.100 66.497
202203 101.901 101.100 114.500
202206 94.841 101.800 105.834
202209 111.815 103.100 123.203
202212 93.854 104.100 102.419
202303 143.643 104.400 156.301
202306 110.057 105.200 118.845
202309 140.419 106.200 150.203
202312 99.888 106.800 106.248
202403 128.495 107.200 136.166
202406 145.844 108.200 153.123
202409 163.326 108.900 170.375
202412 96.356 110.700 98.880
202503 139.301 111.100 142.436
202506 147.907 111.700 150.423
202509 147.275 112.000 149.379
202512 156.176 113.000 157.005
202603 191.593 112.700 193.123
202606 153.693 113.600 153.693

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is NEXON Co (TSE:3659) Overvalued in 2026?

Based on GuruFocus' analysis, NEXON Co stock appears to be undervalued. The current stock price of 円3,200.00 is trading 5.6% below its estimated GF Value™ of 円3,390.43. GuruFocus considers NEXON Co to be Fairly Valued.

Key valuation signals for TSE:3659:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: 円3,390.43 vs. price of 円3,200.00 (5.6% below fair value)
  • GF Score™: 93/100 with 2 warning signs

No single metric tells the full story. See the TSE:3659 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


NEXON Co Business Description

Address 1-4-5 Roppongi, Minato-ku, Tokyo, JPN, 106-0032
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.
93GF Score

Get the complete analysis for TSE:3659

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円3,200.00
Price
円3,390.43
GF Value