everplay Group (GB:EVPL)
LSE:EVPL
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everplay Group
(LSE:EVPL)
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Rating:67Neutral
Price Target:
281.00 p
▲(8.49% Upside)
Action:ReiteratedDate: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 debt (debt-to-equity ~1–2% historically) and a large equity base provide durable financial flexibility. This supports sustained investment in IP, disciplined M&A, dividends or buybacks if chosen, and gives resilience against cyclical swings in game revenues over the next 2–6 months.
Negative Factors
Back‑catalog revenue contraction
Heavy reliance on back‑catalog sales (75% of revenue) means year‑on‑year volatility in catalog performance materially affects the business. A 13% contraction highlights that legacy revenue is not a stable growth engine, forcing greater dependence on successful new releases to sustain overall revenues.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low debt (debt-to-equity ~1–2% historically) and a large equity base provide durable financial flexibility. This supports sustained investment in IP, disciplined M&A, dividends or buybacks if chosen, and gives resilience against cyclical swings in game revenues over the next 2–6 months.
Read all positive factors
everplay Group (EVPL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£364.53M
Dividend Yield1.12%
Average Volume (3M)372.38K
Price to Earnings (P/E)17.7
Beta (1Y)0.84
Revenue Growth-6.90%
EPS GrowthN/A
CountryUK
Employees344
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)0.15
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
£381.28Price Target Upside47.21% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.27
Revenue Forecast (FY)£175.41M
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
null...
everplay Group Earnings Call Summary
Earnings Call Date:Mar 24, 2026
(Q4-2025)
| 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
Neutral
259.00
Price Trends
277.89
Negative
304.62
Negative
340.73
Negative
Market Momentum
-11.22
Negative
48.11
Neutral
82.62
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:EVPL, the sentiment is Neutral. The current price of 259 is above the 20-day moving average (MA) of 247.13, below the 50-day MA of 277.89, and below the 200-day MA of 340.73, indicating a neutral trend. The MACD of -11.22 indicates Negative momentum. The RSI at 48.11 is Neutral, neither overbought nor oversold. The STOCH value of 82.62 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | £88.23M | 8.94 | 15.38% | ― | 21.27% | 21.93% | |
67 Neutral | £364.53M | 17.66 | 8.06% | 1.12% | -6.90% | ― | |
63 Neutral | £131.38M | 6.19 | 21.13% | ― | 1.49% | ― | |
62 Neutral | £104.60M | -4.40 | -6.37% | ― | -10.51% | -63.78% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | £29.50M | -11.49 | -22.74% | ― | -20.54% | 86.22% | |
53 Neutral | £3.32M | -1.64 | -169.50% | ― | -54.59% | ― |
* Communication Services Sector Average
GB:EVPL
everplay Group
259.00
4.91
1.93%
GB:FDEV
Frontier Developments
376.00
179.60
91.45%
GB:GMR
Gaming Realms
31.60
-5.10
-13.90%
GB:GFIN
Gfinity
0.07
<0.01
11.67%
GB:TBLD
tinyBuild Inc.
7.25
2.00
38.10%
GB:DEVO
Devolver Digital, Inc.
22.00
1.75
8.64%
everplay Group Corporate Events
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 ...
Other
Everplay Chair Sagnier Increases Stake With Share Purchase
Positive
Feb 10, 2026
Everplay Group plc disclosed that its chair, Frank Sagnier, has increased his stake in the company by purchasing 33,200 ordinary shares at 301 pence each, taking his beneficial holding to 141,200 shares, or about 0.1% of the issued share capital. ...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Everplay Delivers Double-Digit EBITDA Growth as It Exits Physical Distribution and Primes 2026 Line-Up
Positive
Jan 21, 2026
Everplay reported strong trading in the second half of 2025, with a significant uplift in new release revenues, double-digit growth in first-party IP income and improved back catalogue performance, helping adjusted EBITDA for the year to meet mark...
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.