everplay Group (GB:EVPL)
LSE:EVPL
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everplay Group
(LSE:EVPL)
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Rating:67Neutral
Price Target:
293.00 p
▲(6.93% Upside)
Action:Reiterated
Date:04/01/26
The score is supported primarily by strong financial quality (minimal leverage, solid cash generation) and a generally constructive earnings outlook with margin expansion and a deep 2026 release pipeline. These positives are meaningfully offset by very weak technicals (price well below key moving averages with strongly bearish momentum) and only mid-range valuation support.
Positive Factors
Conservative Balance Sheet
Very low net leverage (debt-to-equity near 1–2%) and a materially larger equity base provide durable financial flexibility. This reduces refinancing and solvency risk, supports multi-year investments in game development and M&A, and underpins the company’s ability to withstand cyclical industry swings.
Negative Factors
Back-Catalog Revenue Dependence
With three-quarters of revenue still derived from back-catalog, the business is structurally exposed to declines in legacy titles. A 13% drop highlights fragility in recurring revenue; sustained weakness would force greater reliance on successful new releases to replace lost cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low net leverage (debt-to-equity near 1–2%) and a materially larger equity base provide durable financial flexibility. This reduces refinancing and solvency risk, supports multi-year investments in game development and M&A, and underpins the company’s ability to withstand cyclical industry swings.
Read all positive factors
everplay Group (EVPL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£401.27M
Dividend Yield1.12%
Average Volume (3M)372.38K
Price to Earnings (P/E)7.3
Beta (1Y)0.85
Revenue Growth-0.38%
EPS Growth34.88%
CountryUK
Employees344
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)0.18
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
£383.75Price Target Upside40.05% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.27
Revenue Forecast (FY)£175.54M
everplay Group Business Overview & Revenue Model
Company Description
everplay group plc, together with its subsidiaries, develops and publishes independent video games for digital and physical market in the United Kingdom and internationally. The company operates through Games Label, Simulation, and Edutainment seg...
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 | 34.46M | 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
Positive
274.00
Price Trends
260.74
Positive
287.03
Negative
329.08
Negative
Market Momentum
3.72
Negative
62.16
Neutral
71.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EVPL, the sentiment is Positive. The current price of 274 is above the 20-day moving average (MA) of 266.05, above the 50-day MA of 260.74, and below the 200-day MA of 329.08, indicating a neutral trend. The MACD of 3.72 indicates Negative momentum. The RSI at 62.16 is Neutral, neither overbought nor oversold. The STOCH value of 71.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | £89.78M | 19.60 | 15.38% | ― | 10.22% | -33.00% | |
67 Neutral | £401.27M | 7.33 | 8.06% | 1.12% | -0.38% | 34.88% | |
67 Neutral | £140.84M | 6.19 | 21.13% | ― | 15.81% | 26.32% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | £30.48M | -1.58 | -8.26% | ― | -0.92% | 85.78% | |
53 Neutral | £102.23M | -9.40 | -8.69% | ― | -0.58% | -140.19% | |
49 Neutral | £2.48M | -1.64 | -169.50% | ― | -39.71% | 33.33% |
* Communication Services Sector Average
GB:EVPL
everplay Group
278.50
-3.27
-1.16%
GB:FDEV
Frontier Developments
405.50
201.50
98.77%
GB:GMR
Gaming Realms
32.80
-13.00
-28.38%
GB:GFIN
Gfinity
0.05
-0.03
-41.25%
GB:TBLD
tinyBuild Inc.
7.75
2.50
47.62%
GB:DEVO
Devolver Digital, Inc.
21.50
1.00
4.88%
everplay Group Corporate Events
Financial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Everplay Group Posts 2025 Annual Report and Schedules May Shareholder Meetings
Positive
Apr 24, 2026
Everplay Group has posted its Annual Report and Financial Statements for the year ended 31 December 2025, along with the notices for its 2026 Annual General Meeting and an Extraordinary General Meeting, to shareholders. The AGM will be held on 21 ...
Business Operations and StrategyExecutive/Board Changes
Everplay Group Grants Performance-Linked Share Options to Executives and Directors
Positive
Apr 2, 2026
Everplay Group has awarded 645,611 nil‑cost options under its Long Term Incentive Plan to CEO Mikkel Weider and CFO/COO Rashid Varachia, with vesting tied to demanding adjusted EPS and relative total shareholder return targets through the en...
Other
Everplay CEO boosts stake with insider share purchase
Positive
Mar 26, 2026
Everplay Group plc disclosed that Group CEO Mikkel Weider acquired 21,526 ordinary shares in the company on 25 March 2026 at a price of 234 pence per share, giving him a beneficial interest in approximately 0.01% of the issued share capital. The C...
DividendsFinancial Disclosures
Everplay Sets FY2025 Final Dividend Timetable and Lifts Total Payout to 2.9p
Positive
Mar 25, 2026
Everplay Group has confirmed the timetable for its proposed final dividend of 1.9p per share for FY2025, which remains subject to approval at the forthcoming Annual General Meeting. Together with the 1.0p interim payout, the total dividend for the...
Business Operations and StrategyDividendsFinancial Disclosures
Everplay lifts profits and margins on stronger portfolio as 2026 pipeline builds
Positive
Mar 24, 2026
Everplay Group reported flat 2025 revenue of £166m after exiting low-margin physical distribution, but delivered stronger profitability, with gross profit up 10%, adjusted EBITDA up 11% and profit before tax rising 44% on improved margins and...
Business Operations and StrategyFinancial Disclosures
Everplay sets March date for 2025 results and ramps up investor outreach
Positive
Feb 25, 2026
Everplay Group plc, the rebranded successor to Team17 Group plc, operates as a global indie games label with three core divisions spanning premium video games, sophisticated working simulation titles and children’s educational entertainment ...
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.