NAVER Corporation financial statements, 6 years: Revenue grew at an average 17.81% a year
Consolidated financial statements for 2020–2025 and the 2026 half-year report that NAVER Corporation filed with DART, laid out by year. No interpretation or outlook.
NAVER Corporation financial statements, 6 years: Revenue grew at an average 17.81% a year
The consolidated financial statements in the 2020–2025 annual reports that NAVER Corporation (035420) filed with Korea’s DART electronic disclosure system, laid out by year. Figures from the 2026 half-year report cover a different period and are shown separately. Every figure below is taken as filed in the DART submissions; there is no interpretation or outlook. Amounts are in Korean won (KRW; bn = billion, tn = trillion).
1. Income statement — the compound annual growth rate of revenue was 17.81%
| Fiscal year | Revenue | Revenue change | Operating income | Op. income change | Operating margin | Net income |
|---|---|---|---|---|---|---|
| 2020 | 5.30tn | — | 1.22tn | — | 22.9% | 1.14tn |
| 2021 | 6.82tn | +28.53% | 1.33tn | +9.06% | 19.4% | 1.48tn |
| 2022 | 8.22tn | +20.57% | 1.30tn | −1.57% | 15.9% | 673.2bn |
| 2023 | 9.67tn | +17.65% | 1.49tn | +14.12% | 15.4% | 985.0bn |
| 2024 | 10.74tn | +11.03% | 1.98tn | +32.94% | 18.4% | 1.93tn |
| 2025 | 12.04tn | +12.08% | 2.21tn | +11.56% | 18.4% | 1.82tn |
Revenue was largest in 2025 at KRW 12.04tn and smallest in 2020 at KRW 5.30tn among the six years. It never fell from the previous year.
Operating income was largest in 2025 at KRW 2.21tn and smallest in 2020 at KRW 1.22tn. The operating margin was highest in 2020 at 22.9%.
Net income was largest in 2024 at KRW 1.93tn and smallest in 2022 at KRW 673.2bn.
2. Financial position — equity became 3.51x
| Fiscal year | Total assets | Total equity | Debt ratio | Current ratio |
|---|---|---|---|---|
| 2020 | 17.01tn | 8.26tn | 106.1% | 133.3% |
| 2021 | 33.69tn | 24.03tn | 40.2% | 140.9% |
| 2022 | 33.90tn | 23.45tn | 44.6% | 117.5% |
| 2023 | 35.74tn | 24.24tn | 47.5% | 111.5% |
| 2024 | 38.17tn | 27.00tn | 41.4% | 153.9% |
| 2025 | 41.08tn | 28.95tn | 41.9% | 136.3% |
The debt ratio was highest in 2020 at 106.1% and lowest in 2021 at 40.2%.
Over the same period total assets went from KRW 17.01tn to KRW 41.08tn (2.41x), and total equity went from KRW 8.26tn to KRW 28.95tn and became 3.51x.
The current ratio was above 100% in all six years, ranging from 111.5% to 153.9%.
3. Cash flow — positive in all six years
| Fiscal year | Operating cash flow | Net income | Operating CF ÷ net income | ROE |
|---|---|---|---|---|
| 2020 | 1.45tn | 1.14tn | 1.27x | 13.8% |
| 2021 | 1.38tn | 1.48tn | 0.93x | 6.2% |
| 2022 | 1.45tn | 673.2bn | 2.16x | 2.9% |
| 2023 | 2.00tn | 985.0bn | 2.03x | 4.1% |
| 2024 | 2.59tn | 1.93tn | 1.34x | 7.2% |
| 2025 | 3.10tn | 1.82tn | 1.70x | 6.3% |
Operating cash flow was positive in all six years. It was largest in 2025 at KRW 3.10tn and smallest in 2021 at KRW 1.38tn.
ROE was highest in 2020 at 13.8% and lowest in 2022 at 2.9%.
4. Latest half-year report (end of H1, 28th fiscal period, consolidated basis)
The period differs, so these figures cannot be compared directly with the annual tables above. Only cumulative figures for the same period of the previous year are compared.
| Item | 2026 cumulative | Same period last year | Change |
|---|---|---|---|
| Revenue | 6.63tn | 5.70tn | +16.27% |
| Operating income | 1.06tn | 1.03tn | +3.43% |
| Net income | 995.3bn | 921.0bn | +8.06% |
| Finance income | 394.5bn | 192.9bn | +104.58% |
| Operating cash flow | 1.19tn | — | — |
At the end of the period, total assets were KRW 44.66tn, total liabilities KRW 13.63tn and total equity KRW 31.03tn.
The cumulative operating margin was 16.0%.
5. Ownership, dividends and staff (as of the 2025 annual report)
- Largest shareholder: National Pension Fund, stake 9.25%
- Cash dividend per share KRW 2,630, payout ratio 20.20%, dividend yield 1.00%
- Employees: 5,047, average pay per employee KRW 146m
How to read this
This page lays out the filed figures by year and nothing more. Financial statements do not say why the numbers moved, so neither do we.
The order of publication follows revenue in the latest fiscal year and has nothing to do with the content.
To check the same figures, search for the company on DART and open the consolidated financial statements in its annual reports. Every number here was computed from the 2020–2025 annual reports and the interim report downloaded through the OpenDART API on 2026-10-14; ratios divide the filed account amounts.
This article is for information only and is not investment advice.