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DoubleDown Interactive Co., Ltd. (DDI) 10-Year Financial Performance & Capital Metrics

DDI • • Industrial / General
TechnologyGaming & MultimediaCasual & Social GamingCasual & Casino Gaming
AboutDoubleDown Interactive Co., Ltd. engages in the development and publishing of digital games on mobile and web-based platforms for casual players in South Korea. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox, and Undead World: Hero Survival games. Its games are primarily distributed, marketed, and promoted through third party platform providers. The company was formerly known as The8Games Co., Ltd. and changed its name to DoubleDown Interactive Co., Ltd. in December 2019. The company was incorporated in 2008 and is headquartered in Seoul, South Korea. DoubleDown Interactive Co., Ltd. operates as a subsidiary of DoubleU Games Co., Ltd.Show more
  • Revenue $341M +10.5%
  • EBITDA $142M +16.5%
  • Net Income $124M +22.7%
  • EPS (Diluted) 2.50 +23.2%
  • Gross Margin 69.67% +2.6%
  • EBITDA Margin 41.66% +5.4%
  • Operating Margin 40.14% +4.5%
  • Net Margin 36.33% +11.1%
  • ROE 15.8% +5.9%
  • ROIC 18.46% +5.9%
  • Debt/Equity 0.05 -27.9%
  • Interest Coverage 66.87 +1.4%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y profit CAGR of 27.8%
  • ✓Strong Piotroski F-Score: 8/9
  • ✓FCF machine: 43.2% free cash flow margin
  • ✓Trading at only 0.5x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y4.52%
3Y-2.05%
TTM1.07%

Profit (Net Income) CAGR

10Y-
5Y27.84%
3Y16.66%
TTM-0.3%

EPS CAGR

10Y-
5Y27.92%
3Y13.72%
TTM0.43%

ROCE

10Y Avg5.08%
5Y Avg3.6%
3Y Avg-1.63%
Latest16.94%

Peer Comparison

Casual & Casino Gaming
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
PLTKPlaytika Holding Corp.1.36B3.628.23-0.69%3.16%33%
DDIDoubleDown Interactive Co., Ltd.450.19M9.093.6310.51%32.95%12.32%32.78%0.05
MYPSPLAYSTUDIOS, Inc.68.64M0.63-2.85-6.9%-15.1%-15.64%60.84%0.04
GIGMGigaMedia Limited16.14M1.46-6.95-30.82%-37.29%-3.26%0.01

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+266.88M273.61M358.34M363.2M321.03M308.86M341.33M
Revenue Growth %-0.03%0.31%0.01%-0.12%-0.04%0.11%
Cost of Goods Sold+104.05M99.62M126.25M126.61M109.31M99.17M103.54M
COGS % of Revenue0.39%0.36%0.35%0.35%0.34%0.32%0.3%
Gross Profit+162.83M173.99M232.09M236.59M211.72M209.69M237.79M
Gross Margin %0.61%0.64%0.65%0.65%0.66%0.68%0.7%
Gross Profit Growth %-0.07%0.33%0.02%-0.11%-0.01%0.13%
Operating Expenses+107.89M105.69M143.3M137.86M525.6M91.09M100.77M
OpEx % of Revenue0.4%0.39%0.4%0.38%1.64%0.29%0.3%
Selling, General & Admin57.73M53.02M92.95M97.95M91.97M69.89M87.21M
SG&A % of Revenue0.22%0.19%0.26%0.27%0.29%0.23%0.26%
Research & Development20.06M19.25M18.78M18.49M18.18M21.17M13.89M
R&D % of Revenue0.08%0.07%0.05%0.05%0.06%0.07%0.04%
Other Operating Expenses-183K33.42M31.57M21.42M415.44M34K-327K
Operating Income+54.94M68.3M88.78M98.73M-313.87M118.6M137.01M
Operating Margin %0.21%0.25%0.25%0.27%-0.98%0.38%0.4%
Operating Income Growth %-0.24%0.3%0.11%-4.18%1.38%0.16%
EBITDA+85.04M101.72M120.36M116.65M-310.07M122.07M142.2M
EBITDA Margin %0.32%0.37%0.34%0.32%-0.97%0.4%0.42%
EBITDA Growth %-0.2%0.18%-0.03%-3.66%1.39%0.16%
D&A (Non-Cash Add-back)30.1M33.42M31.57M17.92M3.8M3.47M5.19M
EBIT64.65M68.3M86M102.63M-303.34M133.38M164.93M
Net Interest Income+-30.12M-26.04M-10.59M-1.8M3.16M11.88M13.61M
Interest Income272K524K197K208K4.99M13.66M15.66M
Interest Expense30.39M26.57M10.79M2.01M1.83M1.8M2.05M
Other Income/Expense-20.69M-18.43M-13.57M1.88M8.71M12.75M25.86M
Pretax Income+34.26M49.87M75.22M100.61M-305.17M131.35M162.88M
Pretax Margin %0.13%0.18%0.21%0.28%-0.95%0.43%0.48%
Income Tax+9.21M13.54M21.59M22.51M-71.19M30.27M38.53M
Effective Tax Rate %0.73%0.73%0.71%0.78%0.77%0.77%0.76%
Net Income+25.05M36.33M53.62M78.11M-233.98M101.04M124.02M
Net Margin %0.09%0.13%0.15%0.22%-0.73%0.33%0.36%
Net Income Growth %-0.45%0.48%0.46%-4%1.43%0.23%
Net Income (Continuing)25.05M36.33M53.62M78.11M-233.98M101.08M124.35M
Discontinued Operations0000000
Minority Interest00000157K118K
EPS (Diluted)+0.510.731.211.70-4.722.032.50
EPS Growth %-0.43%0.66%0.4%-3.78%1.43%0.23%
EPS (Basic)0.510.731.211.70-4.722.032.50
Diluted Shares Outstanding49.56M49.56M44.3M46.06M49.56M49.56M49.56M
Basic Shares Outstanding49.56M49.56M44.3M46.06M49.56M49.56M49.56M
Dividend Payout Ratio------0%

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+49.87M65.86M90.51M270.75M312.88M316.4M453.24M
Cash & Short-Term Investments30.96M42.42M63.19M242.06M285.24M274.99M414.85M
Cash Only30.96M42.42M63.19M242.06M217.35M206.91M334.85M
Short-Term Investments000067.89M67.83M80M
Accounts Receivable16.09M19.81M23.3M21.88M21.2M32.36M30.78M
Days Sales Outstanding22.0126.4323.7321.9824.138.2432.91
Inventory00000248.35K0
Days Inventory Outstanding-----0.91-
Other Current Assets00006.44M2.16M7.61M
Total Non-Current Assets+770.44M749.54M716.32M699.16M479.13M524.64M452.92M
Property, Plant & Equipment499K12.76M10.36M7.32M4.29M7.53M5.33M
Fixed Asset Turnover534.83x21.44x34.58x49.60x74.76x41.03x64.00x
Goodwill633.97M633.97M633.97M633.97M379.07M396.7M395.8M
Intangible Assets135.8M102.7M71.36M53.68M35.05M51.57M47.67M
Long-Term Investments-6.4M001.48M1.4M1.28M0
Other Non-Current Assets176K113K71K100.38K67.98K47.33M746K
Total Assets+820.32M815.4M806.83M969.92M792.05M803.34M906.16M
Asset Turnover0.33x0.34x0.44x0.37x0.41x0.38x0.38x
Asset Growth %--0.01%-0.01%0.2%-0.18%0.01%0.13%
Total Current Liabilities+142.6M50.49M25.65M20.8M116.48M68.5M23.38M
Accounts Payable14.3M10.91M16.65M14.75M13.83M13.29M2.89M
Days Payables Outstanding50.1539.9948.1242.5346.1848.9310.18
Short-Term Debt123.42M34.55M00038.78M0
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities1.2M261K717K730K97.18M10.64M0
Current Ratio0.35x1.30x3.53x13.01x2.69x4.62x19.38x
Quick Ratio0.35x1.30x3.53x13.01x2.69x4.62x19.38x
Cash Conversion Cycle------9.77-
Total Non-Current Liabilities+347.85M384.24M81.67M85.13M49.34M6.95M40.75M
Long-Term Debt324.77M342.5M45.96M42.18M39.45M034.01M
Capital Lease Obligations010.42M7.83M4.69M1.63M4.42M3.51M
Deferred Tax Liabilities21.75M24.01M20.15M28.31M0848K0
Other Non-Current Liabilities1.33M7.3M7.73M9.95M8.27M1.68M3.22M
Total Liabilities490.45M434.73M107.32M105.93M165.83M75.45M64.13M
Total Debt+446.78M390.27M56.82M49.94M44.13M46.35M38.69M
Net Debt415.82M347.85M-6.37M-192.12M-173.22M-160.56M-296.16M
Debt / Equity1.35x1.03x0.08x0.06x0.07x0.06x0.05x
Debt / EBITDA5.25x3.84x0.47x0.43x-0.38x0.27x
Net Debt / EBITDA4.89x3.42x-0.05x-1.65x--1.32x-2.08x
Interest Coverage1.81x2.57x8.23x49.10x-171.42x65.96x66.87x
Total Equity+329.86M380.67M699.51M863.99M626.23M727.89M842.03M
Equity Growth %-0.15%0.84%0.24%-0.28%0.16%0.16%
Book Value per Share6.667.6815.7918.7612.6414.6916.99
Total Shareholders' Equity329.86M380.67M699.51M863.99M626.23M727.73M841.91M
Common Stock10.6M10.6M18.92M21.2M21.2M21.2M21.2M
Retained Earnings-20.24M16.09M69.71M147.93M226.39M327.27M472.13M
Treasury Stock0000000
Accumulated OCI76K9.43M22.82M23.03M19.36M19.98M-10.69M
Minority Interest00000157K118K

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+74.53M76.66M99.85M96.11M50.79M24.09M148.45M
Operating CF Margin %0.28%0.28%0.28%0.26%0.16%0.08%0.43%
Operating CF Growth %-0.03%0.3%-0.04%-0.47%-0.53%5.16%
Net Income25.05M36.33M53.62M78.11M-233.98M101.08M124.44M
Depreciation & Amortization30.1M33.42M31.57M17.92M3.8M3.47M5.19M
Stock-Based Compensation0000000
Deferred Taxes3.19M2.71M4.42M5.98M-84.98M30.27M38.44M
Other Non-Cash Items12.1M9.67M5.35M-2.06M271.22M3.32M-31.53M
Working Capital Changes11.31M-5.46M4.88M-3.84M94.73M-114.04M11.91M
Change in Receivables3.48M-3.68M-4.1M1.64M-46K-11.4M1.46M
Change in Inventory5.07M000000
Change in Payables3.16M-1.63M5.83M-2.05M-239K-3.24M5.51M
Cash from Investing+-3.18M-200K-2.17M-1.81M-67.83M-30.27M-15.61M
Capital Expenditures-3.18M-200K-217K-207K-269K-198K-867K
CapEx % of Revenue0.01%0%0%0%0%0%0%
Acquisitions-------
Investments-------
Other Investing00-6K-58K22K5K-5K
Cash from Financing+-46.68M-61.79M-76.27M86.04M0-3.25M-2.01M
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid000000-311K
Share Repurchases-------
Other Financing1.87M5.12M00000
Net Change in Cash-------
Free Cash Flow+71.34M76.46M99.63M95.84M50.52M23.89M147.56M
FCF Margin %0.27%0.28%0.28%0.26%0.16%0.08%0.43%
FCF Growth %-0.07%0.3%-0.04%-0.47%-0.53%5.18%
FCF per Share1.441.542.252.081.020.482.98
FCF Conversion (FCF/Net Income)2.97x2.11x1.86x1.23x-0.22x0.24x1.20x
Interest Paid15.56M9.78M5.89M00130K0
Taxes Paid3.6M10.2M12.55M18.82M15.98M526K0

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)7.59%10.22%9.93%9.99%-31.4%14.92%15.8%
Return on Invested Capital (ROIC)5.53%6.95%9.37%10.85%-41.85%17.44%18.46%
Gross Margin61.01%63.59%64.77%65.14%65.95%67.89%69.67%
Net Margin9.39%13.28%14.96%21.51%-72.88%32.71%36.33%
Debt / Equity1.35x1.03x0.08x0.06x0.07x0.06x0.05x
Interest Coverage1.81x2.57x8.23x49.10x-171.42x65.96x66.87x
FCF Conversion2.97x2.11x1.86x1.23x-0.22x0.24x1.20x
Revenue Growth-2.52%30.97%1.36%-11.61%-3.79%10.51%

Revenue by Segment

20202021202220232024
Mobile257.4M264.91M241.91M232.49M-
Mobile Growth-2.92%-8.68%-3.90%-
Web100.94M98.29M79.11M76.38M-
Web Growth--2.62%-19.51%-3.45%-

Revenue by Geography

20202021202220232024
Other International Countries----25.18M
Other International Countries Growth-----
CANADA----19.59M
CANADA Growth-----
UNITED STATES309.21M317.61M282.02M267.72M-
UNITED STATES Growth-2.71%-11.21%-5.07%-
Non-US49.13M45.6M39.01M41.14M-
Non-US Growth--7.19%-14.45%5.47%-

Frequently Asked Questions

Valuation & Price

DoubleDown Interactive Co., Ltd. (DDI) has a price-to-earnings (P/E) ratio of 3.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

DoubleDown Interactive Co., Ltd. (DDI) reported $346.1M in revenue for fiscal year 2024. This represents a 30% increase from $266.9M in 2018.

DoubleDown Interactive Co., Ltd. (DDI) grew revenue by 10.5% over the past year. This is steady growth.

Yes, DoubleDown Interactive Co., Ltd. (DDI) is profitable, generating $114.1M in net income for fiscal year 2024 (36.3% net margin).

Dividend & Returns

DoubleDown Interactive Co., Ltd. (DDI) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

DoubleDown Interactive Co., Ltd. (DDI) has a return on equity (ROE) of 15.8%. This is reasonable for most industries.

DoubleDown Interactive Co., Ltd. (DDI) generated $140.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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