bet-at-home.com AG (DE:ACX)
XETRA:ACX
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Rating:58Neutral
Price Target:
€4.00
▲(81.82% Upside)
Action:Reiterated
Date:05/29/26
The score is held back mainly by uneven operating performance and weak recent cash flow despite a solid, low-debt balance sheet. Technicals are supportive (strong uptrend), and valuation looks inexpensive on P/E, but stretched momentum signals add near-term risk.
Positive Factors
Low-leverage balance sheet
A low-debt capital structure provides durable financial flexibility to absorb earnings volatility and support operations or opportunistic investment. With debt-to-equity around 4–10%, the company can fund short-term needs, resist refinancing stress, and pursue strategic initiatives without immediate liquidity strain.
Negative Factors
Inconsistent cash generation
Repeated negative operating and free cash flow episodes weaken the company's ability to self-fund growth, marketing, or payouts, forcing reliance on external capital despite low leverage. Persistent cash conversion issues make earnings recoveries fragile and limit strategic flexibility over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Low-leverage balance sheet
A low-debt capital structure provides durable financial flexibility to absorb earnings volatility and support operations or opportunistic investment. With debt-to-equity around 4–10%, the company can fund short-term needs, resist refinancing stress, and pursue strategic initiatives without immediate liquidity strain.
Read all positive factors
bet at home.com (ACX) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€23.58M
Dividend YieldN/A
Average Volume (3M)1.59K
Price to Earnings (P/E)39.1
Beta (1Y)0.24
Revenue Growth-11.39%
EPS GrowthN/A
CountryDE
Employees101
SectorGeneral
Sector StrengthN/A
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-0.47
Shares Outstanding7,018,000
10 Day Avg. Volume2,994
30 Day Avg. Volume1,588
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)0.59
Price to Sales (P/S)0.41
P/FCF Ratio-10.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.44
Revenue Forecast (FY)€52.10M
bet at home.com Business Overview & Revenue Model
Company Description
Operating across Europe, bet-at-home.com AG, along with its various subsidiaries, delivers a comprehensive suite of online gambling and sports betting services. The company's diverse offerings span traditional and in-play sports wagering, a robust...
How the Company Makes Money
bet-at-home.com AG generates revenue primarily from online gambling activity across two main product categories: (1) sports betting and (2) online casino. In sports betting, the company earns money through the betting margin (the difference betwee...
bet at home.com Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
78
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 51.62M | 36.86M | 41.59M | 36.09M | 42.04M | 47.56M |
| Gross Profit | 32.48M | 0.00 | 41.59M | 17.38M | 26.70M | 33.99M |
| EBITDA | -1.54M | 841.00K | -1.84M | 855.00K | 2.10M | 13.86M |
| Net Income | -3.30M | 2.27M | -4.45M | -1.50M | 11.91M | -16.31M |
Balance Sheet | ||||||
| Total Assets | 52.41M | 48.89M | 52.68M | 56.78M | 62.66M | 75.78M |
| Cash, Cash Equivalents and Short-Term Investments | 38.39M | 27.89M | 33.67M | 34.65M | 35.33M | 41.99M |
| Total Debt | 1.25M | 1.06M | 1.41M | 1.73M | 1.88M | 1.69M |
| Total Liabilities | 27.61M | 23.63M | 29.69M | 29.34M | 33.71M | 58.74M |
| Stockholders Equity | 24.80M | 25.26M | 22.99M | 27.44M | 28.95M | 17.04M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.44M | 792.00K | 133.00K | -5.96M | 8.60M |
| Operating Cash Flow | 0.00 | -1.44M | 792.00K | 104.00K | -5.02M | 10.49M |
| Investing Cash Flow | 0.00 | -94.00K | 18.00K | -343.00K | -874.00K | -1.90M |
| Financing Cash Flow | 0.00 | -327.00K | -329.00K | -498.00K | -770.00K | -18.42M |
bet at home.com Technical Analysis
Positive
2.20
Price Trends
2.80
Positive
2.55
Positive
2.52
Positive
Market Momentum
0.24
Positive
54.86
Neutral
54.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:ACX, the sentiment is Positive. The current price of 2.2 is below the 20-day moving average (MA) of 3.23, below the 50-day MA of 2.80, and below the 200-day MA of 2.52, indicating a bullish trend. The MACD of 0.24 indicates Positive momentum. The RSI at 54.86 is Neutral, neither overbought nor oversold. The STOCH value of 54.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:ACX.
bet at home.com Peers Comparison
UnderperformOutperform
Sector (55)
DE:ACX
bet at home.com
3.41
0.41
13.67%
DE:TIMA
ZEAL Network
44.00
<0.01
<0.01%
bet at home.com Corporate Events
Business Operations and StrategyExecutive/Board Changes
Bet-at-home.com Reshapes Top Management With New Board Chairman
Positive
Apr 20, 2026
Bet-at-home.com AG has appointed Mag. Stefan Sulzbacher as a member and Chairman of its Management Board, bringing in an executive with extensive experience in the betting and gambling sector, including a prior board role at the Interwetten Group ...
Executive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Bet-at-home.com Calls Virtual AGM to Refresh Supervisory Board and Name 2026 Auditor
Neutral
Apr 20, 2026
Bet-at-home.com AG has convened a fully virtual annual general meeting for 29 May 2026, where shareholders will review the already adopted 2025 financial statements and vote on discharging the management and supervisory boards, approving the 2025 ...
Other
Bet-at-home.com Investor Zucchiatti Cuts Stake Below 3% to Zero
Neutral
Apr 16, 2026
Bet-at-home.com AG has disclosed a change in its shareholder structure after investor Mathieu Zucchiatti, linked via ZM GROUP SAS, fell below the 3% voting rights threshold in the company. According to the notification, Zucchiatti’s holding ...
Financial DisclosuresRegulatory Filings and Compliance
Bet-at-home.com Sets April 14, 2026 Date for 2025 Annual and Group Reports
Neutral
Apr 13, 2026
Bet-at-home.com AG has issued a correction to a previous announcement and confirmed the planned publication of its 2025 annual financial report and 2025 consolidated group report. Both reports, covering the period from 1 January to 31 December 202...
Financial DisclosuresRegulatory Filings and Compliance
Bet-at-home.com Sets 7 April 2026 Date for 2025 Annual Report
Neutral
Mar 31, 2026
Bet-at-home.com AG has scheduled the publication of its consolidated annual report for the 2025 financial year, covering the period from 1 January to 31 December 2025, for 7 April 2026. The report will be made available on the company’s inve...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.