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everplay Group
(LSE:EVPL)
Select Model
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Rating:74Outperform
Price Target:
261.00 p
▲(20.00% Upside)
Action:Upgraded
Date:08/06/26
The score is driven primarily by strong financial fundamentals (minimal leverage, solid cash generation) and a supportive earnings outlook with margin expansion and a sizeable 2026 pipeline, tempered by execution risk from heavier development investment and reliance on H2 launches. Technical indicators remain a notable drag given the price is below key longer-term moving averages and MACD is negative, while valuation (P/E 12.1) provides a modest offset.
Positive Factors
Conservative balance sheet / low leverage
A very low debt load and materially expanded equity provide durable financial flexibility. This conservatism supports ongoing investment, disciplined M&A, dividend capacity and resilience through product cycles, reducing refinance and solvency risk over the next several quarters.
Negative Factors
Heavy reliance on back-catalog revenue
With three-quarters of revenue from back-catalogues, a 13% decline highlights structural vulnerability: durable revenue depends on replacing recurring hits with new IP. Continued catalog contraction would pressure top-line predictability and force greater dependence on successful new releases.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
A very low debt load and materially expanded equity provide durable financial flexibility. This conservatism supports ongoing investment, disciplined M&A, dividend capacity and resilience through product cycles, reducing refinance and solvency risk over the next several quarters.
Read all positive factors
everplay Group (EVPL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£337.87M
Dividend Yield1.24%
Average Volume (3M)372.38K
Price to Earnings (P/E)12.1
Beta (1Y)0.90
Revenue Growth-0.38%
EPS Growth34.88%
CountryUK
Employees397
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)0.19
Shares Outstanding145,848,680
10 Day Avg. Volume459,964
30 Day Avg. Volume372,383
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)1.65
Price to Sales (P/S)2.90
P/FCF Ratio10.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£375.00Price Target Upside72.41% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.26
Revenue Forecast (FY)£173.82M
everplay Group Business Overview & Revenue Model
Company Description
Everplay Group Plc, through its subsidiaries, focuses on the creation and distribution of independent video games for both digital and physical markets, catering to audiences in the United Kingdom and worldwide. The company's operations are divide...
How the Company Makes Money
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everplay Group Earnings Call Summary
Earnings Call Date:Mar 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Sep 15, 2026
Earnings Call Sentiment Positive
The call highlighted solid financial and operational progress: adjusted EBITDA and margins expanded, Team17 and StoryToys delivered strong performance, new-release revenue rose significantly and the company has a deep pipeline plus a healthy cash balance and dividend policy. However, material weaknesses at astragon (notably a 33% decline and underperforming launches), a 13% drop in back-catalog revenue year-on-year, and a marked increase in capitalised development spend that concentrates risk into forthcoming releases temper the outlook. On balance, the positives — margin expansion, record divisional results (Team17), strong StoryToys growth, new-release momentum and a clear strategic focus on AI, synergies and disciplined M&A — outweigh the negatives, though execution risk remains centred on H2 releases and higher development investment.Positive Updates
Group Revenue and Growth (Excluding Physical Distribution)
Group revenues were GBP 166.0m, broadly flat year-on-year but up 5% when excluding the exited physical distribution business, driven by new-release performance and strategic partnerships.
Negative Updates
astragon Revenue Decline
astragon contracted 33% overall year-on-year (partly due to the strategic exit from physical distribution); excluding physical distribution, astragon revenues still declined 18% as major new titles underperformed.
Read all updates
Q4-2025 Updates
Positive
Negative
Group Revenue and Growth (Excluding Physical Distribution)
Group revenues were GBP 166.0m, broadly flat year-on-year but up 5% when excluding the exited physical distribution business, driven by new-release performance and strategic partnerships.
Read all positive updates
Company Guidance
Management guided that they expect to deliver 2026 adjusted EBITDA in line with current market expectations while materially investing in growth: FY26 capitalized development is forecast at £45.0m (up from a £33.3m cap‑dev balance this year, an £8.2m increase), with more than 10 new game releases planned in 2026 (management noted at least 15 titles) and the bulk of the bigger launches weighted to H2 (including Hell Let Loose: Vietnam, Golf With Your Friends 2, Wardogs, Bus Simulator and Silver Pines). They reiterated the post‑physical‑distribution growth trajectory after FY25 revenues of £166m (broadly flat YoY, +5% excluding physical distribution), new‑release revenue up 80% to £41m, back‑catalog contributing 75% of revenues (£125m), adjusted EBITDA £48.5m (29% margin, +11% YoY; margin +3.1ppt), adjusted EPS 25.7p, year‑end cash £51.9m, and a 2.9p per share dividend (£4.2m), and said astragon is expected to recover during 2026.everplay Group Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
92
Very Positive
Cash Flow
81
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 166.00M | 166.62M | 159.13M | 142.28M | 90.51M |
| Gross Profit | 60.36M | 74.12M | 69.64M | 69.62M | 45.52M |
| EBITDA | 64.41M | 40.81M | 36.30M | 41.28M | 32.69M |
| Net Income | 27.24M | 20.19M | -3.75M | 23.48M | 23.74M |
Balance Sheet | |||||
| Total Assets | 332.91M | 310.65M | 297.66M | 327.73M | 158.63M |
| Cash, Cash Equivalents and Short-Term Investments | 51.87M | 62.88M | 42.82M | 50.83M | 55.30M |
| Total Debt | 2.10M | 2.92M | 3.57M | 2.99M | 2.34M |
| Total Liabilities | 41.96M | 48.08M | 50.88M | 75.27M | 31.00M |
| Stockholders Equity | 290.95M | 262.57M | 246.78M | 252.46M | 127.64M |
Cash Flow | |||||
| Free Cash Flow | 44.17M | 50.95M | 40.91M | 48.70M | 30.42M |
| Operating Cash Flow | 44.63M | 51.27M | 41.38M | 49.43M | 30.99M |
| Investing Cash Flow | -49.50M | -30.14M | -49.41M | -127.94M | -37.02M |
| Financing Cash Flow | -6.21M | -771.00K | -635.00K | 73.71M | -408.00K |
everplay Group Technical Analysis
Negative
217.50
Price Trends
239.77
Negative
248.69
Negative
289.86
Negative
Market Momentum
-1.01
Negative
48.31
Neutral
48.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EVPL, the sentiment is Negative. The current price of 217.5 is below the 20-day moving average (MA) of 227.63, below the 50-day MA of 239.77, and below the 200-day MA of 289.86, indicating a neutral trend. The MACD of -1.01 indicates Negative momentum. The RSI at 48.31 is Neutral, neither overbought nor oversold. The STOCH value of 48.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:EVPL.
everplay Group Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | £83.58M | 15.32 | 15.38% | ― | 10.22% | -32.00% | |
74 Outperform | £337.87M | 12.10 | 9.60% | 1.33% | -0.38% | 34.88% | |
72 Outperform | £151.61M | 8.39 | 21.13% | ― | 15.81% | 26.32% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | £37.36M | -19.12 | -8.26% | ― | -0.92% | 85.78% | |
56 Neutral | £79.30M | -6.18 | -10.73% | ― | -0.58% | -140.19% | |
47 Neutral | £2.14M | 3.60 | -200.26% | ― | -39.71% | 33.33% |
* Communication Services Sector Average
GB:EVPL
everplay Group
233.00
-149.38
-39.07%
GB:FDEV
Frontier Developments
426.00
48.50
12.85%
GB:GMR
Gaming Realms
31.40
-21.80
-40.98%
GB:GFIN
Gfinity
0.03
-0.05
-61.63%
GB:TBLD
tinyBuild Inc.
9.50
3.25
52.00%
GB:DEVO
Devolver Digital, Inc.
16.00
-7.50
-31.91%
everplay Group Corporate Events
Business Operations and StrategyFinancial Disclosures
Everplay Reaffirms 2026 Outlook as Major Game Launches Shift to Second Half
Positive
Jul 28, 2026
Everplay reported that trading in the first half of 2026 was in line with the board’s expectations, supported by new releases, resilient performance from key franchises and solid back catalogue sales, including a strong showing in summer pro...
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Everplay Delays Hell Let Loose: Vietnam to August but Reaffirms 2026 Outlook
Positive
Jun 2, 2026
Everplay Group has confirmed a revised 13 August 2026 release date for Hell Let Loose: Vietnam, the next entry in its flagship military shooter franchise, following a large-scale open beta that drew more than 352,000 unique players and highlighted...
Executive/Board Changes
Everplay awards deferred bonus shares to finance chief
Positive
May 27, 2026
Everplay Group plc disclosed that Group Chief Financial Officer and Chief Operating Officer Rashid Varachia has received 10,630 ordinary shares as part of his bonus for the 2025 financial year. The award was made after tax deductions and leaves Va...
Business Operations and StrategyShareholder Meetings
Everplay Secures Full Shareholder Backing at AGM and EGM
Positive
May 21, 2026
Everplay Group plc reported that all resolutions presented to shareholders at its Annual General Meeting and Extraordinary General Meeting were approved. The company has made the full text of the resolutions and proxy results available to investor...
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.