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Playgram Co., Ltd. (009810) AI Stock Analysis

KR:009810

Playgram Co., Ltd.

(Korea Exchange:009810)

Select Model
Rating:46Neutral
Price Target:KRW 1,710.00â–¼(-0.58% Downside)
Action:initiatedcoverage
Date:10/28/26

The score is primarily constrained by financial performance: despite strong revenue growth and manageable leverage, the company remains loss-making with thin margins and weakening/volatile free cash flow. Technicals add further pressure as the stock trades below major moving averages with negative momentum. Valuation is also limited by a negative P/E and no visible dividend support.

Positive Factors
Revenue GrowthSolid TTM revenue growth shows that the business continues to expand its top line, while a stable gross margin indicates that growth has not yet materially weakened underlying economics. Sustained sales expansion can support operating leverage and future profitability if execution improves.
Negative Factors
Persistent LossesContinuing net losses show that revenue scale has not yet translated into dependable earnings. Although operating performance has improved and TTM EBIT margin is slightly positive, thin margins leave limited protection against execution pressure and make sustained profitability unproven.

Playgram Co., Ltd. (009810) vs. SPDR S&P 500 ETF (SPY)

-50%-40%-30%-20%-10%0%10%20%KR:009810-43.05%SPY+11.79%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
KRW 130.61B
Dividend Yield
―
Average Volume (3M)
9,116
Price to Earnings (P/E)
-6.8
Beta (1Y)
0.20
Revenue Growth
8.02%
EPS Growth
-171.64%
Country
KR
Employees
51
Sector
General
Sector Strength
55
Industry
Industrial - Distribution

Playgram Co., Ltd. Business Overview & Revenue Model

Company Description

MDSsphere Co., Ltd. engages in the maintenance, repair, and operations; and video content businesses in South Korea and internationally. The company provides Hellolive, an online live platform that connects K-pop stars with fans around the world by p...

Playgram Co., Ltd. Financial Statement Overview

Summary

Revenue growth is solid (TTM +10.5%) and leverage appears manageable (TTM debt-to-equity ~0.66). However, net income remains negative, operating margins are still thin despite improvement, and cash-flow durability is a concern given the sharp TTM free-cash-flow drop and historical volatility.

Income Statement

44Neutral

Balance Sheet

56Neutral

Cash Flow

49Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue275.70B251.12B268.34B214.42B131.30B40.83B
Gross Profit46.76B39.32B49.38B35.79B24.71B3.01B
EBITDA11.94B-4.39B9.52B-26.49B10.87B-14.95B
Net Income-2.21B-954.23M-1.32B-37.58B-2.30B-17.76B
Balance Sheet
Total Assets304.37B289.19B336.75B273.65B303.64B129.52B
Cash, Cash Equivalents and Short-Term Investments62.27B88.70B98.33B82.37B75.66B81.80B
Total Debt44.74B39.03B65.54B33.86B62.88B28.23B
Total Liabilities110.28B107.40B131.31B99.97B120.09B77.79B
Stockholders Equity67.93B69.70B73.43B54.58B76.34B51.79B
Cash Flow
Free Cash Flow2.46B9.79B-2.23B25.26B-15.03B-5.01B
Operating Cash Flow5.01B11.59B-383.06M26.54B-10.55B-4.46B
Investing Cash Flow-43.53B-11.46B-7.34B8.34B-17.05B-16.72B
Financing Cash Flow-422.19M-11.03B28.52B-12.58B27.73B42.61B

Playgram Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative
Last Price1720.00

Price Trends

50DMA1843.50Negative
100DMA1861.22Negative
200DMA2074.18Negative

Market Momentum

MACD-45.90Positive
RSI41.07Neutral
STOCH38.58Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:009810, the sentiment is Negative. The current price of 1720.00 is below the 20-day moving average (MA) of 1791.00, below the 50-day MA of 1843.50, and below the 200-day MA of 2074.18, indicating a bearish trend. The MACD of -45.90 indicates Positive momentum. The RSI at 41.07 is Neutral, neither overbought nor oversold. The STOCH value of 38.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KR:009810.

Playgram Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

KR:009810 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
KR:090370KR:09037046NeutralKRW 26.40B-4.42――203.49%-57.36%
KR:009810KR:00981046NeutralKRW 34.99B-6.79――8.02%-171.64%
KR:206560KR:20656044NeutralKRW 22.54B-65.75――-11.15%65.73%

* General Sector Average

Performance Comparison

-75%-50%-25%0%25%KR:009810KR:047080KR:090370KR:206560KR:348030KR:417860Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
KR:009810 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
KR:009810Playgram Co., Ltd.1720.00-1310.00-43.23%
KR:047080HANBIT SOFT Inc.1021.00-189.00-15.62%
KR:090370MetaLabs Co., Ltd.967.00-792.00-45.03%
KR:206560Dexter Studios Co., Ltd.896.00-3724.00-80.61%
KR:348030MOBIRIX Corp.4030.00270.007.18%
KR:417860Obzen, Inc.6330.00-9060.00-58.87%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 28, 2026