This page shows WEBTOON ENTERTAINMENT INC. (WBTN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Asset-value resets now drive reported losses more than cash burn, while the core platform edges toward self-funding.
FY2025’s$373.4M net loss looks far worse than the cash reality, because operating cash flow remained positive at$11.2M . At the same time, goodwill fell by$328.5M from FY2024, indicating the earnings hit came largely from balance-sheet remeasurement rather than a collapse in day-to-day cash generation.
Across the period, revenue reached
The balance sheet is carrying the transition, with
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of WEBTOON ENTERTAINMENT INC.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
WEBTOON ENTERTAINMENT INC. has an operating margin of -4.6%, meaning the company retains $-5 of operating profit per $100 of revenue. This results in a moderate score of 36/100, indicating healthy but not exceptional operating efficiency. This is up from -7.5% the prior year.
WEBTOON ENTERTAINMENT INC.'s revenue grew a modest 2.5% year-over-year to $1.4B. This slow but positive growth earns a score of 45/100.
WEBTOON ENTERTAINMENT INC. carries a low D/E ratio of 0.31, meaning only $0.31 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 68/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.61, WEBTOON ENTERTAINMENT INC. holds $2.61 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 71/100.
WEBTOON ENTERTAINMENT INC. has a free cash flow margin of 0.3%, earning a moderate score of 30/100. The company generates positive cash flow after capital investments, but with room for improvement.
WEBTOON ENTERTAINMENT INC.'s ROE of -31.9% shows moderate profitability relative to equity, earning a score of 38/100. This is down from -10.4% the prior year.
WEBTOON ENTERTAINMENT INC. scores 2.42, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($1.3B) relative to total liabilities ($367.2M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
WEBTOON ENTERTAINMENT INC. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, WEBTOON ENTERTAINMENT INC. generates $-0.03 in operating cash flow ($11.2M OCF vs -$373.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
WEBTOON ENTERTAINMENT INC. earns $-1134.1 in operating income for every $1 of interest expense (-$63.5M vs $56K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
WEBTOON ENTERTAINMENT INC. generated $1.4B in revenue in fiscal year 2025. This represents an increase of 2.5% from the prior year.
WEBTOON ENTERTAINMENT INC.'s EBITDA was -$28.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 53.7% from the prior year.
WEBTOON ENTERTAINMENT INC. reported -$373.4M in net income in fiscal year 2025. This represents a decrease of 144.2% from the prior year.
WEBTOON ENTERTAINMENT INC. earned $-2.66 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 119.8% from the prior year.
Cash & Balance Sheet
WEBTOON ENTERTAINMENT INC. generated $3.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 76.8% from the prior year.
WEBTOON ENTERTAINMENT INC. held $581.8M in cash against $0 in long-term debt as of fiscal year 2025.
WEBTOON ENTERTAINMENT INC. had 131M shares outstanding in fiscal year 2025. This represents an increase of 1.7% from the prior year.
Margins & Returns
WEBTOON ENTERTAINMENT INC.'s gross margin was 23.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the prior year.
WEBTOON ENTERTAINMENT INC.'s operating margin was -4.6% in fiscal year 2025, reflecting core business profitability. This is up 2.9 percentage points from the prior year.
WEBTOON ENTERTAINMENT INC.'s net profit margin was -27.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 15.7 percentage points from the prior year.
WEBTOON ENTERTAINMENT INC.'s ROE was -31.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 21.5 percentage points from the prior year.
Capital Allocation
WEBTOON ENTERTAINMENT INC. invested $7.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 216.9% from the prior year.
WBTN Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $320.9M-3.0% | $330.7M-12.5% | $378.0M+8.5% | $348.3M+6.9% | $325.7M-7.7% | $352.8M+1.4% | $347.9M+8.4% | $321.0M |
| Cost of Revenue | $237.8M-4.9% | $250.2M-15.3% | $295.3M+13.1% | $261.0M+2.7% | $254.1M-6.1% | $270.6M+5.5% | $256.5M+7.8% | $237.9M |
| Gross Profit | $83.0M+3.1% | $80.5M-2.7% | $82.8M-5.2% | $87.3M+21.9% | $71.6M-13.0% | $82.3M-10.0% | $91.4M+10.0% | $83.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $60.6M-7.4% | $65.4M+4.6% | $62.5M-3.8% | $65.0M-2.6% | $66.7M-14.3% | $77.8M+16.6% | $66.7M-51.9% | $138.7M |
| Operating Income | -$8.0M+39.3% | -$13.2M+11.0% | -$14.9M-69.8% | -$8.8M+67.1% | -$26.6M+3.9% | -$27.7M-242.7% | -$8.1M+89.8% | -$79.1M |
| Interest Expense | $17K-66.0% | $50K+2400.0% | $2K0.0% | $2K0.0% | $2K+100.0% | $1K | $0-100.0% | $11K |
| Income Tax | $2.7M+114.6% | -$18.4M-3033.4% | $626K+175.2% | -$832K-132.7% | $2.5M-48.3% | $4.9M+149.8% | -$9.9M-619.1% | $1.9M |
| Net Income | -$9.5M+97.2% | -$335.0M-2776.6% | -$11.6M-169.2% | -$4.3M+80.7% | -$22.4M+78.0% | -$102.0M-616.2% | $19.8M+125.7% | -$76.9M |
| EPS (Diluted) | $-0.07 | N/A | $-0.09-200.0% | $-0.03+82.4% | $-0.17 | N/A | $0.15+121.4% | $-0.70 |
WBTN Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.6B-0.1% | $1.6B-19.3% | $2.0B-1.6% | $2.0B+3.8% | $1.9B+0.1% | $1.9B-9.0% | $2.1B+4.8% | $2.0B |
| Current Assets | $851.0M+2.4% | $831.2M-1.3% | $842.4M-2.3% | $862.0M+5.1% | $820.3M-1.9% | $836.4M-5.1% | $881.4M+6.7% | $826.4M |
| Cash & Equivalents | $594.9M+2.2% | $581.8M-0.5% | $584.6M+0.5% | $581.5M+5.7% | $550.1M-3.9% | $572.4M-2.2% | $585.5M+2.3% | $572.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $182.8M+3.4% | $176.8M-0.4% | $177.5M-5.0% | $186.8M+7.5% | $173.7M+2.7% | $169.2M | N/A | N/A |
| Goodwill | $330.8M-1.8% | $336.8M-50.3% | $678.1M-1.1% | $685.7M+2.5% | $669.3M+0.6% | $665.3M-12.4% | $759.7M+2.5% | $741.3M |
| Total Liabilities | $358.5M-2.4% | $367.2M-8.9% | $402.9M-2.2% | $411.8M+7.1% | $384.4M+1.4% | $378.9M-8.7% | $415.0M-0.8% | $418.3M |
| Current Liabilities | $312.8M-1.8% | $318.6M-4.7% | $334.3M-1.6% | $339.8M+8.8% | $312.2M-0.3% | $313.2M-11.5% | $354.0M+3.4% | $342.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| Total Equity | $1.2B+0.6% | $1.2B-21.3% | $1.5B-1.5% | $1.5B+2.9% | $1.5B-0.3% | $1.5B-8.8% | $1.6B+6.6% | $1.5B |
| Retained Earnings | -$862.6M-1.1% | -$853.1M-56.4% | -$545.6M-2.2% | -$533.9M-0.8% | -$529.6M-4.4% | -$507.2M-22.4% | -$414.2M+4.6% | -$434.0M |
WBTN Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$11.8M-255.1% | $7.6M-53.8% | $16.5M+189.9% | $5.7M+130.6% | -$18.7M-115.5% | -$8.7M-308.8% | $4.1M+383.5% | -$1.5M |
| Capital Expenditures | $3.1M+395.7% | $635K-86.5% | $4.7M+166.2% | $1.8M+228.5% | $536K-50.9% | $1.1M+72.1% | $634K+206.3% | $207K |
| Free Cash Flow | -$15.0M-314.1% | $7.0M-40.9% | $11.8M+200.6% | $3.9M+120.5% | -$19.2M-96.9% | -$9.7M-377.6% | $3.5M+310.4% | -$1.7M |
| Investing Cash Flow | -$6.7M-173.1% | -$2.5M+77.0% | -$10.7M-178.2% | $13.7M+271.1% | -$8.0M-32.8% | -$6.0M-54.1% | -$3.9M-119.1% | $20.5M |
| Financing Cash Flow | $32.7M+55293.2% | $59K-95.0% | $1.2M+701.4% | $147K+79.3% | $82K-58.8% | $199K-98.9% | $17.6M-94.8% | $336.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | $100K | $0 | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
WBTN Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.9%+1.5pp | 24.3%+2.4pp | 21.9%-3.2pp | 25.1%+3.1pp | 22.0%-1.3pp | 23.3%-2.9pp | 26.3%+0.4pp | 25.9% |
| Operating Margin | -2.5%+1.5pp | -4.0%-0.1pp | -3.9%-1.4pp | -2.5%+5.7pp | -8.2%-0.3pp | -7.8%-5.5pp | -2.3%+22.3pp | -24.6% |
| Net Margin | -2.9%+98.4pp | -101.3%-98.2pp | -3.1%-1.8pp | -1.2%+5.6pp | -6.9%+22.0pp | -28.9%-34.6pp | 5.7%+29.6pp | -23.9% |
| Return on Equity | -0.8%+27.8pp | -28.6%-27.8pp | -0.8%-0.5pp | -0.3%+1.2pp | -1.5%+5.4pp | -6.9%-8.1pp | 1.2%+6.3pp | -5.1% |
| Return on Assets | -0.6%+20.4pp | -21.0%-20.4pp | -0.6%-0.4pp | -0.2%+0.9pp | -1.2%+4.1pp | -5.3%-6.2pp | 0.9%+4.7pp | -3.8% |
| Current Ratio | 2.72+0.1 | 2.61+0.1 | 2.52-0.0 | 2.54-0.1 | 2.63-0.0 | 2.67+0.2 | 2.49+0.1 | 2.41 |
| Debt-to-Equity | 0.300.0 | 0.31+0.0 | 0.270.0 | 0.27+0.0 | 0.26+0.3 | 0.00-0.3 | 0.26-0.0 | 0.28 |
| FCF Margin | -4.7%-6.8pp | 2.1%-1.0pp | 3.1%+2.0pp | 1.1%+7.0pp | -5.9%-3.1pp | -2.8%-3.8pp | 1.0%+1.5pp | -0.5% |
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Frequently Asked Questions
What is WEBTOON ENTERTAINMENT INC.'s annual revenue?
WEBTOON ENTERTAINMENT INC. (WBTN) reported $1.4B in total revenue for fiscal year 2025. This represents a 2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is WEBTOON ENTERTAINMENT INC.'s revenue growing?
WEBTOON ENTERTAINMENT INC. (WBTN) revenue grew by 2.5% year-over-year, from $1.3B to $1.4B in fiscal year 2025.
Is WEBTOON ENTERTAINMENT INC. profitable?
No, WEBTOON ENTERTAINMENT INC. (WBTN) reported a net income of -$373.4M in fiscal year 2025, with a net profit margin of -27.0%.
What is WEBTOON ENTERTAINMENT INC.'s EBITDA?
WEBTOON ENTERTAINMENT INC. (WBTN) had EBITDA of -$28.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is WEBTOON ENTERTAINMENT INC.'s gross margin?
WEBTOON ENTERTAINMENT INC. (WBTN) had a gross margin of 23.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is WEBTOON ENTERTAINMENT INC.'s operating margin?
WEBTOON ENTERTAINMENT INC. (WBTN) had an operating margin of -4.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is WEBTOON ENTERTAINMENT INC.'s net profit margin?
WEBTOON ENTERTAINMENT INC. (WBTN) had a net profit margin of -27.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is WEBTOON ENTERTAINMENT INC.'s return on equity (ROE)?
WEBTOON ENTERTAINMENT INC. (WBTN) has a return on equity of -31.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is WEBTOON ENTERTAINMENT INC.'s free cash flow?
WEBTOON ENTERTAINMENT INC. (WBTN) generated $3.6M in free cash flow during fiscal year 2025. This represents a -76.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is WEBTOON ENTERTAINMENT INC.'s operating cash flow?
WEBTOON ENTERTAINMENT INC. (WBTN) generated $11.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are WEBTOON ENTERTAINMENT INC.'s total assets?
WEBTOON ENTERTAINMENT INC. (WBTN) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are WEBTOON ENTERTAINMENT INC.'s capital expenditures?
WEBTOON ENTERTAINMENT INC. (WBTN) invested $7.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is WEBTOON ENTERTAINMENT INC.'s current ratio?
WEBTOON ENTERTAINMENT INC. (WBTN) had a current ratio of 2.61 as of fiscal year 2025, which is generally considered healthy.
What is WEBTOON ENTERTAINMENT INC.'s debt-to-equity ratio?
WEBTOON ENTERTAINMENT INC. (WBTN) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is WEBTOON ENTERTAINMENT INC.'s return on assets (ROA)?
WEBTOON ENTERTAINMENT INC. (WBTN) had a return on assets of -23.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is WEBTOON ENTERTAINMENT INC.'s Altman Z-Score?
WEBTOON ENTERTAINMENT INC. (WBTN) has an Altman Z-Score of 2.42, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is WEBTOON ENTERTAINMENT INC.'s Piotroski F-Score?
WEBTOON ENTERTAINMENT INC. (WBTN) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are WEBTOON ENTERTAINMENT INC.'s earnings high quality?
WEBTOON ENTERTAINMENT INC. (WBTN) has an earnings quality ratio of -0.03x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can WEBTOON ENTERTAINMENT INC. cover its interest payments?
WEBTOON ENTERTAINMENT INC. (WBTN) has an interest coverage ratio of -1134.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is WEBTOON ENTERTAINMENT INC.?
WEBTOON ENTERTAINMENT INC. (WBTN) scores 48 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.