Company DescriptionIGG Inc, an investment holding company, engages in the development and operation of mobile and online games in Asia, North America, Europe, and internationally. The company offers mobile, browser, PC, and client-based online games in 23 languages. It also licenses online games; and provides customer support and technical support services. IGG Inc was founded in 2006 and is headquartered in Singapore.

How the Company Makes Money

IGG Financial Statement Overview

Summary

IGG shows a commendable financial performance with robust revenue growth, enhanced margins, and strong cash flow generation. The low debt levels and high equity ratio contribute to financial stability and reduced risk. However, the net profit margin is an area for improvement.

Income Statement

Positive

IGG has demonstrated strong revenue growth from 2023 to 2024, with a revenue increase of 8.94%. The gross profit margin for 2024 is robust at 80.37%, indicating effective cost management. However, the net profit margin stands at 10.12%, reflecting a decline from previous years. The EBIT and EBITDA margins improved significantly in 2024 to 11.68% and 13.67%, respectively, showing enhanced operational efficiency.

Balance Sheet

Very Positive

IGG maintains a solid balance sheet with a low debt-to-equity ratio of 0.03, suggesting minimal reliance on debt. The equity ratio is strong at 70.64%, indicating a healthy proportion of equity financing. The return on equity (ROE) for 2024 is 18.60%, showcasing effective use of shareholder funds to generate profits. Overall, the balance sheet reflects financial stability and low leverage risk.

Cash Flow

Positive

The company has achieved a significant improvement in free cash flow, turning from negative in 2023 to positive in 2024. The operating cash flow to net income ratio is 1.93, indicating strong cash generation relative to net income. The free cash flow to net income ratio is 1.70, reflecting efficient conversion of profits into cash. The positive trajectory in cash flows suggests improved liquidity and financial health.

Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
5.74B	5.27B	4.59B	6.05B	5.46B
	Gross Profit
4.61B	3.92B	3.15B	4.20B	3.82B
	EBIT
670.07M	91.49M	-209.60M	559.53M	1.35B
	EBITDA
784.17M	212.09M	-356.31M	610.75M	2.40B
	Net Income Common Stockholders
580.68M	73.05M	-503.59M	370.44M	2.10B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.27B	1.49B	1.59B	1.96B	2.17B
	Total Assets
4.42B	3.70B	3.64B	4.45B	4.88B
	Total Debt
83.91M	63.22M	63.00M	158.91M	88.98M
	Net Debt
-2.16B	-1.41B	-1.52B	-1.79B	-2.08B
	Total Liabilities
1.29B	962.67M	924.27M	1.14B	1.02B
	Stockholders Equity
3.12B	2.73B	2.71B	3.31B	3.86B
Cash Flow		Free Cash Flow
986.98M	-5.35M	-232.65M	389.52M	1.26B
	Operating Cash Flow
1.12B	128.58M	-98.24M	660.26M	1.29B
	Investing Cash Flow
-122.92M	-96.23M	-152.03M	212.40M	-257.86M
	Financing Cash Flow
-205.33M	-143.67M	-73.85M	-1.11B	-1.26B

IGG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IGGGF		$523.24M	7.00	19.85%	4.20%	―	―
Sector *	61 Neutral	$14.60B	5.95	-4.32%	3.69%	2.76%	-30.49%
BOYAF		$443.85M	9.13	14.21%	2.28%	―	―
2660	67 Neutral	HK$2.35B	4.93	17.68%	10.09%	-21.05%	-41.78%
6820	53 Neutral	HK$1.92B	―	-4.15%	―	7.55%	64.78%
3798	44 Neutral	HK$1.45B	18.03	-3.75%	8.85%	-23.76%	-116.71%
0302	41 Neutral	HK$1.38B	―	-43.81%	―	-27.68%	-11792.65%

* Communication Services Sector Average

Performance Comparison

IGGGF

IGG

0.45

0.08

21.62%

BOYAF

Boyaa Interactive International

0.60

0.55

1100.00%

HK:2660

Zengame Technology Holding Ltd.

2.28

-0.70

-23.49%

HK:0302

CMGE Technology Group Limited

0.46

-0.67

-59.29%

HK:3798

Homeland Interactive Technology Ltd.

1.13

-0.73

-39.25%

HK:6820

FriendTimes Inc.

0.88

0.08

10.00%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

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