NASDAQ : WBTN
WEBTOON Entertainment Inc. — Financial statements
Communication Services · Internet Content & Information · United States
Last price 9.53 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.29B
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Financial statements
WEBTOON Entertainment Inc. (WBTN) reported revenue of 1.37B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | 1.37B | 1.38B | 1.35B | 1.28B | 1.08B |
| Cost of Revenue | 1.03B | 1.06B | 1.01B | 987.26M | 806.38M |
| Gross Profit | 334.48M | 322.18M | 339.07M | 295.49M | 273.01M |
| Selling, General & Admin | 386.79M | 386.29M | 406.96M | 323.08M | 378.13M |
| Operating Expenses | 386.79M | 386.29M | 406.96M | 323.08M | 378.13M |
| Operating Income | -52.31M | -64.11M | -67.89M | -27.59M | -105.12M |
| Interest Expense | -86.00K | -56.00K | -45.00K | -79.00K | -844.00K |
| Interest & Investment Income | 18.01M | 19.17M | 18.46M | 3.01M | 1.17M |
| Earnings From Equity Investments | 1.89M | 1.28M | -1.12M | -12.34M | -4.69M |
| Currency Exchange Gain (Loss) | -625.00K | -625.00K | -2.10M | -7.59M | -12.04M |
| Other Non Operating Income (Expenses) | -813.00K | 23.00K | 1.69M | -1.34M | 2.75M |
| EBT Excluding Unusual Items | -33.95M | -44.32M | -51.01M | -45.94M | -118.78M |
| Impairment of Goodwill | -335.51M | -335.51M | -69.74M | -63.41M | |
| Gain (Loss) on Sale of Investments | -8.61M | -8.61M | 2.26M | -22.59M | 624.00K |
| Gain (Loss) on Sale of Assets | -814.00K | -821.00K | |||
| Asset Writedown | -978.00K | -978.00K | |||
| Other Unusual Items | -30.00M | ||||
| Pretax Income | -379.04M | -389.41M | -149.31M | -132.75M | -118.15M |
| Income Tax Expense | -8.13M | -16.02M | 3.60M | 12.01M | 14.37M |
| Earnings From Continuing Operations | -370.91M | -373.39M | -152.91M | -144.76M | -132.52M |
| Minority Interest in Earnings | 26.99M | 27.46M | 9.01M | 28.30M | 2.65M |
| Net Income | -343.92M | -345.93M | -143.91M | -116.45M | -129.87M |
| Preferred Dividends & Other Adjustments | 228.00K | 207.00K | -123.00K | -210.00K | |
| Net Income to Common | -344.14M | -346.13M | -143.78M | -116.25M | -129.87M |
| Shares Outstanding (Basic) | 132.41M | 130.18M | 119.23M | 109.51M | 106.50M |
| Shares Outstanding (Diluted) | 132.41M | 130.18M | 119.23M | 109.51M | 106.50M |
| EPS (Basic) | -2.60 | -2.66 | -1.21 | -1.06 | -1.22 |
| EPS (Diluted) | -2.60 | -2.66 | -1.21 | -1.06 | -1.22 |
| Free Cash Flow | -4.01M | 3.60M | 15.48M | 4.61M | -143.30M |
| Free Cash Flow Per Share | -0.03 | 0.03 | 0.13 | 0.04 | -1.35 |
| Gross Margin | 24.45% | 23.30% | 25.14% | 23.04% | 25.29% |
| Operating Margin | -3.82% | -4.64% | -5.04% | -2.15% | -9.74% |
| Profit Margin | -25.16% | -25.03% | -10.66% | -9.06% | -12.03% |
| Free Cash Flow Margin | -0.29% | 0.26% | 1.15% | 0.36% | -13.28% |
| EBITDA | -19.99M | -30.28M | -31.72M | 8.26M | -72.29M |
| EBITDA Margin | -1.46% | -2.19% | -2.35% | 0.64% | -6.70% |
| D&A For EBITDA | 32.33M | 33.83M | 36.17M | 35.86M | 32.84M |
| EBIT | -52.31M | -64.11M | -67.89M | -27.59M | -105.12M |
| EBIT Margin | -3.82% | -4.64% | -5.04% | -2.15% | -9.74% |
| Advertising Expenses | 67.00M | 36.60M | 28.30M | 70.90M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 583.14M | 581.81M | 572.40M | 231.75M | 279.71M |
| Short-Term Investments | 2.59M | 2.07M | 18.33M | 12.78M | |
| Cash & Short-Term Investments | 585.73M | 583.88M | 590.73M | 244.52M | 279.71M |
| Accounts Receivable | 191.31M | 176.78M | 169.19M | 171.78M | 104.88M |
| Other Receivables | 105.70M | ||||
| Receivables | 191.31M | 176.78M | 169.19M | 171.78M | 210.88M |
| Inventory | 3.15M | ||||
| Prepaid Expenses | 18.90M | 14.63M | 14.01M | 17.05M | 13.39M |
| Other Current Assets | 50.98M | 55.94M | 62.45M | 59.49M | 48.32M |
| Total Current Assets | 846.93M | 831.23M | 836.37M | 492.83M | 555.44M |
| Property, Plant & Equipment | 35.06M | 32.04M | 20.43M | 41.16M | 65.14M |
| Long-Term Investments | 141.84M | 150.11M | 148.85M | 155.46M | 185.94M |
| Goodwill | 328.46M | 336.82M | 665.27M | 779.18M | 884.05M |
| Other Intangible Assets | 144.46M | 157.80M | 180.91M | 219.50M | 253.82M |
| Long-Term Deferred Tax Assets | 24.64M | 22.30M | 17.59M | 24.05M | 29.48M |
| Other Long-Term Assets | 40.27M | 34.30M | 34.05M | 35.42M | 42.43M |
| Total Assets | 1.59B | 1.60B | 1.94B | 1.78B | 2.02B |
| Accounts Payable | 133.66M | 136.96M | 127.31M | 127.43M | 153.33M |
| Accrued Expenses | 68.41M | 78.36M | 81.68M | 75.69M | 57.36M |
| Short-Term Debt | 4.19M | 11.19M | |||
| Current Portion of Long-Term Debt | 65.00K | ||||
| Current Portion of Leases | 8.11M | 9.62M | 6.05M | 9.95M | 11.72M |
| Current Income Taxes Payable | 4.08M | 1.24M | 10.09M | 9.46M | 8.38M |
| Current Unearned Revenue | 103.84M | 89.99M | 85.86M | 76.72M | 77.09M |
| Other Current Liabilities | 3.47M | 2.46M | 2.23M | 12.58M | 17.14M |
| Total Current Liabilities | 321.56M | 318.62M | 313.22M | 316.07M | 336.21M |
| Long-Term Leases | 14.53M | 14.05M | 11.19M | 19.24M | 30.65M |
| Pension & Post-Retirement Benefits | 22.84M | 25.07M | 22.03M | 23.36M | 29.60M |
| Long-Term Deferred Tax Liabilities | 6.10M | 5.75M | 30.27M | 61.13M | 84.27M |
| Other Long-Term Liabilities | 3.62M | 3.74M | 2.16M | 9.32M | 24.40M |
| Total Liabilities | 368.64M | 367.24M | 378.87M | 429.13M | 505.12M |
| Common Stock | 14.00K | 13.00K | 13.00K | 11.00K | 32.00K |
| Additional Paid-In Capital | 2.19B | 2.14B | 2.10B | 1.67B | 1.04B |
| Retained Earnings | -877.83M | -853.12M | -507.20M | -363.29M | -212.03M |
| Comprehensive Income & Other | -145.83M | -114.36M | -124.62M | -54.82M | 556.85M |
| Total Common Equity | 1.16B | 1.17B | 1.47B | 1.25B | 1.38B |
| Minority Interest | 57.64M | 57.82M | 84.33M | 98.33M | 132.36M |
| Shareholders' Equity | 1.22B | 1.23B | 1.56B | 1.35B | 1.52B |
| Total Liabilities & Equity | 1.59B | 1.60B | 1.94B | 1.78B | 2.02B |
| Total Debt | 22.63M | 23.67M | 17.24M | 33.44M | 53.56M |
| Net Cash (Debt) | 563.10M | 560.21M | 573.49M | 211.09M | 226.15M |
| Net Cash Per Share | 4.25 | 4.30 | 4.81 | 1.93 | 2.12 |
| Filing Date Shares Outstanding | 135.71M | 133.48M | 128.86M | 109.51M | 97.09M |
| Total Common Shares Outstanding | 135.66M | 130.78M | 128.59M | 109.51M | 97.09M |
| Working Capital | 525.37M | 512.61M | 523.15M | 176.75M | 219.22M |
| Book Value Per Share | 8.58 | 8.95 | 11.45 | 11.41 | 14.25 |
| Tangible Book Value | 691.23M | 675.82M | 625.94M | 250.46M | 245.23M |
| Tangible Book Value Per Share | 5.10 | 5.17 | 4.87 | 2.29 | 2.53 |
| Land | 571.00K | 110.00K | 108.00K | 6.79M | |
| Buildings | 872.00K | 174.00K | 170.00K | 167.00K | |
| Machinery | 13.94M | 13.78M | 10.46M | 12.17M | 22.40M |
| Construction In Progress | 3.03M | 295.00K | 82.00K | ||
| Leasehold Improvements | 3.15M | 3.28M | 652.00K | 10.11M | 10.31M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Net Income | -343.92M | -345.93M | -143.91M | -116.45M | -129.87M |
| Depreciation & Amortization | 32.33M | 33.83M | 36.17M | 35.86M | 32.84M |
| Loss (Gain) From Sale of Assets | 814.00K | 822.00K | |||
| Asset Writedown & Restructuring Costs | 338.09M | 338.09M | 73.64M | 65.91M | 1.90M |
| Loss (Gain) From Sale of Investments | 6.90M | 8.61M | -2.26M | 22.59M | -624.00K |
| Loss (Gain) on Equity Investments | -1.89M | -1.28M | 1.12M | 12.34M | 4.69M |
| Stock-Based Compensation | 36.14M | 41.91M | 87.38M | 3.22M | |
| Provision & Write-off of Bad Debts | 3.43M | 4.77M | 6.03M | 3.48M | 2.88M |
| Other Operating Activities | -42.68M | -45.56M | -27.27M | -33.95M | 16.30M |
| Change in Accounts Receivable | -21.00M | -873.00K | -24.06M | 30.92M | 41.76M |
| Change in Accounts Payable | 6.91M | 3.42M | 26.18M | -7.58M | -48.20M |
| Change in Unearned Revenue | 10.69M | 2.40M | 21.58M | 1.09M | 3.18M |
| Change in Income Taxes | 5.26M | -8.86M | 634.00K | 1.08M | |
| Change in Other Net Operating Assets | -24.19M | -19.31M | -38.18M | -4.51M | -65.45M |
| Operating Cash Flow | 6.07M | 11.22M | 17.88M | 14.80M | -140.61M |
| Capital Expenditures | -10.09M | -7.62M | -2.40M | -10.20M | -2.70M |
| Sale of Property, Plant & Equipment | 154.00K | 297.00K | 6.50M | 659.00K | 608.00K |
| Cash Acquisitions | -148.00K | ||||
| Divestitures | -315.00K | 1.99M | -520.00K | ||
| Sale (Purchase) of Intangibles | -9.86M | -10.29M | -10.74M | -12.14M | -18.49M |
| Investment in Securities | -4.01M | 9.37M | -10.51M | -21.29M | -26.60M |
| Other Investing Activities | -1.25M | 119.00K | 470.00K | 187.00K | 140.00K |
| Investing Cash Flow | -23.53M | -7.50M | -17.28M | -51.98M | -50.70M |
| Short-Term Debt Issued | 139.00K | 383.00K | 76.59M | ||
| Total Debt Issued | 139.00K | 139.00K | 383.00K | 76.59M | |
| Short-Term Debt Repaid | -3.60M | -6.28M | -104.93M | ||
| Long-Term Debt Repaid | -15.00K | -64.00K | -2.26M | ||
| Total Debt Repaid | -3.61M | -6.34M | -107.19M | ||
| Net Debt Issued (Repaid) | 139.00K | 139.00K | -3.61M | -5.96M | -30.60M |
| Issuance of Common Stock | 34.01M | 1.33M | 370.48M | 408.37M | |
| Other Financing Activities | 78.00K | -13.00M | -539.00K | -27.43M | |
| Financing Cash Flow | 34.23M | 1.47M | 353.87M | -6.50M | 350.34M |
| Foreign Exchange Rate Adjustments | -15.17M | 4.22M | -13.82M | -4.29M | -20.41M |
| Net Cash Flow | 1.60M | 9.40M | 340.66M | -47.96M | 138.62M |
| Free Cash Flow | -4.01M | 3.60M | 15.48M | 4.61M | -143.30M |
| Free Cash Flow Margin | -0.29% | 0.26% | 1.15% | 0.36% | -13.28% |
| Free Cash Flow Per Share | -0.03 | 0.03 | 0.13 | 0.04 | -1.35 |
| Levered Free Cash Flow | 14.63M | 17.85M | 75.90M | 20.56M | |
| Unlevered Free Cash Flow | 14.69M | 17.88M | 75.93M | 20.61M | |
| Cash Interest Paid | 1.00K | 85.00K | 92.00K | 700.00K | |
| Cash Income Tax Paid | 16.38M | 24.70M | 25.68M | 26.64M | 29.36M |
| Change in Working Capital | -22.33M | -23.22M | -13.85M | 20.99M | -68.72M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Market Capitalization | 1.20B | 1.70B | 1.74B | ||
| Enterprise Value | 635.23M | 1.23B | 1.25B | ||
| Last Close Price | 8.87 | 13.03 | 13.58 | ||
| Forward PE | 86.87 | 44.02 | |||
| PS Ratio | 0.88 | 1.23 | 1.29 | ||
| PB Ratio | 1.03 | 1.39 | 1.12 | ||
| P/TBV Ratio | 1.74 | 2.52 | 2.78 | ||
| P/FCF Ratio | 473.69 | 112.57 | |||
| P/OCF Ratio | 198.31 | 151.91 | 97.44 | ||
| EV/Sales Ratio | 0.47 | 0.89 | 0.92 | ||
| EV/FCF Ratio | 341.74 | 80.46 | |||
| Debt / Equity Ratio | 0.02 | 0.02 | 0.01 | 0.03 | 0.04 |
| Debt / EBITDA Ratio | 1.60 | ||||
| Debt / FCF Ratio | 6.58 | 1.11 | 7.26 | ||
| Net Debt / Equity Ratio | -0.46 | -0.46 | -0.37 | -0.16 | -0.15 |
| Net Debt / EBITDA Ratio | 28.18 | 18.50 | 18.08 | -25.54 | 3.13 |
| Net Debt / FCF Ratio | 140.25 | -155.74 | -37.05 | -45.84 | 1.58 |
| Asset Turnover | 0.76 | 0.78 | 0.73 | 0.68 | |
| Quick Ratio | 2.42 | 2.39 | 2.43 | 1.32 | 1.46 |
| Current Ratio | 2.63 | 2.61 | 2.67 | 1.56 | 1.65 |
| Return on Equity (ROE) | -26.31% | -26.82% | -10.53% | -10.11% | |
| Return on Assets (ROA) | -1.82% | -2.27% | -2.29% | -0.91% | |
| Return on Capital Employed (ROCE) | -4.10% | -5.00% | -4.20% | -1.90% | -6.20% |
| Earnings Yield | -29.44% | -20.30% | -8.26% | ||
| FCF Yield | -0.33% | 0.21% | 0.89% | ||
| Buyback Yield / Dilution | -2.39% | -9.18% | -8.88% | -2.82% |