GDEV Inc (GDEV) is undervalued and Sohu.com Ltd ADR (SOHU) is undervalued.
Against our estimates of intrinsic value, GDEV trades at the wider discount: a margin of safety of +71%, against +47% for SOHU.
Values as of the 19 Oct 2026 close.
Discounting its cash flows at 13.4% (average of 3 methods) values the shares at $36.74; the price of $10.76 is 71% below that value, and 61% of that value comes from beyond year five.
Leak Score 75/100 on 9 of 12 signals
Its liquidation floor, current assets minus every liability, values the shares at $23.40; the price of $12.45 is 47% below that value.
Leak Score 51/100 on 9 of 12 signals
| Metric | GDEV | SOHU |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $10.76 | $12.45 |
| Intrinsic value | $36.74 | $23.40 |
| Margin of safety | +71% | +47% |
| Leak Score | 75/100 (9/12) | 51/100 (9/12) |
| Market cap | $187M | $328M |
| Revenue growth, 5 years | 9.2% | -4.8% |
| Operating margin | 19.9% | -6.8% |
| Net margin | 19.7% | 38.2% |
| Return on equity | — | 19.5% |
| Debt to equity | — | 0.00 |
| P/E | 2.5x | 1.5x |
| Forward P/E | 2.0x | — |
| P/B | — | 0.3x |