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Betsson AB
(BETS.B)
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Rating:72Outperform
Price Target:
kr94.00
▼(-36.14% Downside)
Action:Reiterated
Date:04/25/26
The score is driven primarily by solid underlying financial quality (strong profitability, low leverage) offset by recent TTM deterioration in revenue and free-cash-flow momentum. Valuation is supportive with a moderate P/E and high dividend yield, while technicals are mixed with improving short-term signals but a still-weak longer-term trend.
Positive Factors
High Profitability & ROE
Sustained ROE near 18–23% indicates Betsson converts capital into earnings efficiently across cycles. High recurring margins are durable in iGaming where operating leverage and product mix benefit incumbents, supporting reinvestment, dividends, and competitive resilience.
Negative Factors
Recent Sharp Revenue Decline
A meaningful TTM revenue drop undermines growth momentum and may indicate market share pressure, regulatory headwinds, or weaker customer activity. If sustained, top-line weakness can compress future investment capacity and reduce the buffer for margins to absorb cost increases.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability & ROE
Sustained ROE near 18–23% indicates Betsson converts capital into earnings efficiently across cycles. High recurring margins are durable in iGaming where operating leverage and product mix benefit incumbents, supporting reinvestment, dividends, and competitive resilience.
Read all positive factors
Betsson AB (BETS.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr12.03B
Dividend Yield5.03%
Average Volume (3M)307.85K
Price to Earnings (P/E)7.2
Beta (1Y)0.28
Revenue Growth-1.24%
EPS Growth-21.32%
CountrySE
Employees2,769
SectorServices
Sector StrengthN/A
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)1.13
Shares Outstanding121,854,410
10 Day Avg. Volume263,331
30 Day Avg. Volume307,852
Financial Highlights & Ratios
PEG Ratio-4.64
Price to Book (P/B)2.10
Price to Sales (P/S)1.59
P/FCF Ratio12.60
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)0.92
Revenue Forecast (FY)kr1.20B
Betsson AB Business Overview & Revenue Model
Company Description
Betsson AB is an online gaming enterprise that, through its various subsidiaries, maintains a substantial presence across several key geographical regions. Its operations primarily span the Nordic countries, Western Europe, Central and Eastern Eur...
How the Company Makes Money
Betsson primarily generates revenue from iGaming by earning the statistical margin between what customers wager and what is paid back in winnings, with the mechanics varying by product. In online casino (e.g., slots, table games, live casino), rev...
Betsson AB Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
80
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.19B | 1.20B | 1.11B | 948.20M | 777.20M | 657.70M |
| Gross Profit | 784.50M | 435.41M | 719.75M | 756.33M | 504.36M | 450.44M |
| EBITDA | 281.30M | 319.48M | 316.00M | 259.79M | 173.08M | 152.49M |
| Net Income | 154.35M | 177.40M | 181.30M | 177.30M | 119.60M | 106.40M |
Balance Sheet | ||||||
| Total Assets | 1.35B | 1.32B | 1.37B | 1.20B | 1.02B | 897.20M |
| Cash, Cash Equivalents and Short-Term Investments | 341.80M | 321.58M | 308.50M | 237.10M | 168.30M | 95.60M |
| Total Debt | 192.30M | 188.50M | 186.20M | 184.20M | 115.00M | 117.10M |
| Total Liabilities | 453.50M | 432.39M | 509.50M | 440.90M | 370.90M | 328.40M |
| Stockholders Equity | 912.00M | 905.60M | 869.10M | 770.00M | 654.20M | 571.80M |
Cash Flow | ||||||
| Free Cash Flow | 118.60M | 151.00M | 222.90M | 189.00M | 143.20M | 111.50M |
| Operating Cash Flow | 187.30M | 215.60M | 272.90M | 230.40M | 178.70M | 143.60M |
| Investing Cash Flow | -43.80M | -52.10M | -93.30M | -159.00M | -51.20M | -71.60M |
| Financing Cash Flow | -159.60M | -138.10M | -107.00M | 300.00K | -54.70M | -62.20M |
Betsson AB Technical Analysis
Neutral
147.20
Price Trends
88.27
Positive
90.49
Negative
109.95
Negative
Market Momentum
-0.28
Negative
59.25
Neutral
91.57
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BETS.B, the sentiment is Neutral. The current price of 147.2 is above the 20-day moving average (MA) of 87.04, above the 50-day MA of 88.27, and above the 200-day MA of 109.95, indicating a neutral trend. The MACD of -0.28 indicates Negative momentum. The RSI at 59.25 is Neutral, neither overbought nor oversold. The STOCH value of 91.57 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:BETS.B.
Betsson AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | kr12.03B | 7.20 | 23.20% | 5.03% | -1.24% | -21.32% | |
71 Outperform | kr4.27B | 50.12 | 4.76% | ― | -10.22% | -33.31% | |
66 Neutral | kr7.10B | 24.47 | ― | ― | -9.37% | -8.66% | |
60 Neutral | kr216.91M | -2.06 | -19.82% | ― | 8.09% | 88.25% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
54 Neutral | kr173.97M | -7.40 | -74.31% | ― | 18.40% | 95.30% | |
53 Neutral | kr77.11M | -0.61 | ― | ― | -43.50% | 96.29% |
* Services Sector Average
SE:BETS.B
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Betsson AB Corporate Events
Betsson Cancels Repurchased Shares and Updates Capital Structure
May 29, 2026
Betsson AB has reduced its share capital by cancelling 3,094,000 previously repurchased Class B shares, following a resolution at its Annual General Meeting on 7 May 2026. After this cancellation, the company has 139,635,838 shares outstanding and...
Betsson AGM Backs Dividend, Incentive Plan and Expanded Capital Flexibility
May 7, 2026
Betsson AB’s annual general meeting approved the 2025 financial statements, the remuneration report and a dividend of EUR 0.66 per share, to be paid in two instalments, while granting discharge from liability to the board and CEO. Shareholde...
Betsson Completes SEK 432 Million Share Buyback Programme
May 5, 2026
Betsson AB has completed and closed its share buyback programme, initiated in October 2025, after repurchasing a total of 3,849,700 series B shares for approximately SEK 432 million. The final week of the programme saw 156,600 shares bought back o...
Betsson Tightens Free Float with Continued Share Buybacks
Apr 28, 2026
Betsson AB has continued its ongoing share buyback programme, repurchasing 173,000 series B shares on Nasdaq Stockholm between 20 and 24 April 2026 for a total of about SEK 17.3 million. The transactions, executed by Arctic Securities on Betsson&#...
Betsson’s Q1 profit hit by B2B slump as B2C growth accelerates
Apr 24, 2026
Betsson AB reported a 3% drop in first-quarter revenue to EUR 285.3 million and a sharp decline in profitability, as EBITDA fell 36% and net income nearly halved, weighed down by weaker B2B performance and a higher share of revenue from locally re...
Betsson Steps Up Share Buybacks as Capital Management Drive Continues
Apr 21, 2026
Betsson AB has repurchased 180,500 of its own series B shares on Nasdaq Stockholm between 13 and 17 April 2026, under a previously announced share buyback programme of up to the equivalent of EUR 40 million running until 30 April 2026. The transac...
Betsson Steps Up EUR 40m Buyback With New B-Share Purchases
Apr 14, 2026
Betsson AB has repurchased 140,000 of its own series B shares on Nasdaq Stockholm between 7 and 10 April 2026, at a weighted average price of SEK 101.86 and a total value of about SEK 14.26 million. The transactions were executed by Arctic Securit...
Betsson Sets Date for Q1 2026 Report and Investor Presentation
Apr 10, 2026
Betsson AB will release its report for the first quarter of 2026 on 24 April, followed by an English-language presentation led by CEO Pontus Lindwall and CFO Martin Öhman for analysts, investors, and media. The webcast and teleconference, whi...
Betsson Hit by B2B Slowdown as Regulated Shift Squeezes Q1 Margins
Apr 9, 2026
Betsson AB reported preliminary first-quarter 2026 revenue of EUR 285 million, slightly below the prior year, with operating income dropping to EUR 34 million, pressured by a sharp decline in B2B licence revenue and a shift toward locally regulate...
Betsson steps up EUR 40m buyback with fresh B-share repurchases
Apr 7, 2026
Betsson AB continued to execute its ongoing share buyback programme during week 14, repurchasing 142,020 series B shares on Nasdaq Stockholm between 30 March and 2 April 2026 for a total of about SEK 14.2 million at a weighted average price of SEK...
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.