Enad Global 7 AB (SE:EG7)
:EG7
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Enad Global 7 AB
(EG7)
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Rating:60Neutral
Price Target:
kr20.50
▲(60.91% Upside)
Action:Reiterated
Date:05/20/26
The score is held back most by weak financial performance (losses and declining revenue, with uneven free cash flow). This is partly offset by constructive technical momentum (price above key moving averages with positive MACD) and a cautiously positive earnings call focused on pipeline execution, cost actions, and improved profitability/cash flow. Valuation appears moderate based on the provided P/E, with no dividend yield support.
Positive Factors
Predictable recurring revenue base
A 91% live-service/back-catalog revenue mix and SEK 1.3bn LTM predictable sales underpin stable recurring cash flows, lowering revenue volatility versus pure new-release models. This durability supports ongoing live-ops investment, steady monetization and more predictable funding for pipeline execution.
Negative Factors
Shrinking revenues and sustained net losses
Trailing losses and declining top line erode shareholder equity and limit reinvestment capacity. Positive EBITDA masks large non-operating costs and charges; sustained bottom-line weakness raises the risk that operating improvements or new titles may not fully offset structural profit pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Predictable recurring revenue base
A 91% live-service/back-catalog revenue mix and SEK 1.3bn LTM predictable sales underpin stable recurring cash flows, lowering revenue volatility versus pure new-release models. This durability supports ongoing live-ops investment, steady monetization and more predictable funding for pipeline execution.
Read all positive factors
Enad Global 7 AB (EG7) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr1.66B
Dividend YieldN/A
Average Volume (3M)457.84K
Price to Earnings (P/E)―
Beta (1Y)0.40
Revenue Growth-15.13%
EPS Growth-602.18%
CountrySE
Employees546
SectorTechnology
Sector Strength88
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-21.41
Shares Outstanding88,603,520
10 Day Avg. Volume482,581
30 Day Avg. Volume457,838
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.78
Price to Sales (P/S)0.74
P/FCF Ratio12.41
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)0.9
Revenue Forecast (FY)kr1.90B
Enad Global 7 AB Business Overview & Revenue Model
Company Description
Enad Global 7 AB (publ), a comprehensive entity in the video game sector, specializes in the creation, promotion, distribution, and release of interactive entertainment across personal computers, gaming consoles, and mobile platforms. Its extensiv...
How the Company Makes Money
EG7 makes money primarily by selling and monetizing video games through a mix of initial game sales and recurring revenue from operating games after launch. Key revenue streams include: (1) Premium game sales: one-time purchases of full games sold...
Enad Global 7 AB Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call presented a mixed but constructive picture: headline revenue and adjusted EBITDA declined year-over-year driven by FX and timing differences (notably Fireshine's prior-year physical releases), however the company returned to net profitability, delivered substantially stronger operating cash flow, showcased resilient predictable live-service revenues (91% of group revenue), reported strong organic growth in core studios (Daybreak and Palia) and highlighted a very sizable release pipeline and targeted cost savings. One-time actions (accelerated earn-out settlement) and ongoing cost optimizations bolster medium-term cash generation. Given the material positives in profitability, cash flow, live-service stability and pipeline execution that management emphasized outweigh near-term top-line timing issues and FX headwinds, the overall tone is cautiously positive.Positive Updates
Return to Profitability
Net profit of SEK 21 million in Q1 2026 versus a loss of SEK 18.5 million in Q1 last year; diluted EPS of SEK 0.24.
Negative Updates
Top-Line Decline
Net revenues down to SEK 345 million in Q1 (reported decline 24% SE year-over-year; 13% FX-neutral/organic decline in local currencies).
Read all updates
Q1-2026 Updates
Positive
Negative
Return to Profitability
Net profit of SEK 21 million in Q1 2026 versus a loss of SEK 18.5 million in Q1 last year; diluted EPS of SEK 0.24.
Read all positive updates
Company Guidance
EG7 guided to "solid potential growth" for the remainder of 2026, supported by a strong release pipeline and cost/structural actions: Q1 revenue was SEK 345m (down 24% YoY, ~13% FX‑neutral), adjusted EBITDA SEK 51m (down 31%) with a 14.8% EBITDA margin (‑140bps), net profit SEK 21m (vs. a SEK 18.5m loss prior year), diluted EPS SEK 0.24 and operating cash flow ~SEK 89–90m (about 5x prior year). Management highlighted that 91% of group revenue is predictable live‑service/back‑catalog (SEK 314m in Q1; LTM net revenue SEK 1.5bn, ~SEK 1.3bn from predictable titles), Daybreak generated SEK 190m (+16–17% local currency) with Palia up ~160% YoY, Big Blue Bubble SEK 61m (up ~3–4%) and Piranha SEK 21m (adjusted EBITDA SEK 8m, 39% margin); product momentum includes Far Far West (700k units in week one, 96% Steam rating) and a planned late‑Q3 release for Aliens: Fireteam Elite 2 (trailer/marketing ramp starting with an IGN reveal). Financial and margin tailwinds include SEK ~32m annualized run‑rate savings (Petrol ~SEK13m, Piranha ~SEK15m, remuneration ~SEK4m), an accelerated Daybreak earn‑out payment (USD 11m) expected to free USD 1–3m/year for ~12 years, Q1 investments SEK 174m (SEK 101m earn‑out, SEK 48m Palia/Cold Iron), cash SEK 293m, net debt SEK 55m, an unused SEK 100m RCF and a SEK 1bn bond frame.Enad Global 7 AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
43
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.53B | 1.63B | 1.92B | 2.09B | 1.88B | 2.04B |
| Gross Profit | -1.42B | -2.06B | 1.56B | 1.55B | 1.41B | 1.50B |
| EBITDA | 175.00M | 132.50M | 471.10M | 489.10M | 472.10M | 576.30M |
| Net Income | -1.90B | -1.94B | -236.40M | 156.10M | -268.10M | 96.80M |
Balance Sheet | ||||||
| Total Assets | 2.50B | 2.53B | 4.91B | 4.87B | 4.95B | 6.01B |
| Cash, Cash Equivalents and Short-Term Investments | 292.70M | 390.30M | 321.50M | 478.30M | 405.20M | 481.20M |
| Total Debt | 412.70M | 436.50M | 69.00M | 80.90M | 145.10M | 458.50M |
| Total Liabilities | 883.60M | 995.00M | 939.80M | 972.30M | 1.05B | 1.41B |
| Stockholders Equity | 1.61B | 1.54B | 3.97B | 3.90B | 3.90B | 4.60B |
Cash Flow | ||||||
| Free Cash Flow | 25.70M | 96.70M | -137.90M | 190.70M | 174.50M | 4.20M |
| Operating Cash Flow | 176.30M | 102.80M | 194.10M | 437.80M | 374.60M | 162.70M |
| Investing Cash Flow | -404.40M | -309.60M | -306.50M | -231.60M | -58.00M | -625.80M |
| Financing Cash Flow | -46.20M | 312.10M | -66.30M | -126.00M | -331.80M | -164.20M |
Enad Global 7 AB Technical Analysis
Positive
12.74
Price Trends
17.96
Positive
15.90
Positive
14.99
Positive
Market Momentum
0.34
Positive
47.25
Neutral
13.90
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:EG7, the sentiment is Positive. The current price of 12.74 is below the 20-day moving average (MA) of 20.05, below the 50-day MA of 17.96, and below the 200-day MA of 14.99, indicating a neutral trend. The MACD of 0.34 indicates Positive momentum. The RSI at 47.25 is Neutral, neither overbought nor oversold. The STOCH value of 13.90 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:EG7.
Enad Global 7 AB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | kr524.65M | 19.34 | 12.65% | 9.28% | -19.83% | -72.63% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | kr1.66B | -0.87 | ― | ― | -15.13% | -602.18% | |
60 Neutral | kr13.65B | 155.16 | 22.69% | 3.16% | -1.05% | -84.87% | |
60 Neutral | kr14.82B | -2.37 | 10.27% | ― | -44.20% | -197.33% | |
60 Neutral | kr204.01M | -17.19 | -3.04% | 13.12% | 0.57% | -263.59% | |
51 Neutral | kr2.67B | -1.09 | ― | ― | -15.98% | 69.06% |
* Technology Sector Average
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Enad Global 7 AB Corporate Events
EG7’s ‘Far Far West’ Tops One Million Steam Sales in Under Two Weeks
May 18, 2026
Enad Global 7 reported that “Far Far West,” a cooperative supernatural western action game developed by Evil Raptor and published by EG7-owned Fireshine Games, has surpassed one million units sold on Steam less than two weeks after its...
EG7 AGM Backs Share Issue, Buyback Mandates and Cold Iron Studios Deal
May 12, 2026
Enad Global 7 AB’s annual general meeting approved the 2025 financial statements, decided to retain earnings with no dividend, and granted discharge from liability to the board and CEO, while re-electing the entire board and auditor with a r...
EG7 banks on Aliens: Fireteam Elite 2 as key 2026 growth driver
May 7, 2026
Enad Global 7 will expand its presence in licensed franchises with Aliens: Fireteam Elite 2, a new four-player cooperative survival shooter developed by Daybreak and Cold Iron Studios in collaboration with 20th Century Games. Scheduled for global ...
EG7 Balances Revenue Decline With Strong Cash Flow and Robust Game Pipeline
May 7, 2026
Enad Global 7 reported first-quarter 2026 net revenue of SEK 345.3 million, a 24% year-on-year decline and a 13.1% organic FX-adjusted drop, but improved profitability with net profit rising to SEK 20.8 million from a loss a year earlier and stron...
Enad Global 7 Names Project Avo as Aliens: Fireteam Elite 2
May 6, 2026
Enad Global 7 has revealed that its previously codenamed Project Avo is officially titled Aliens: Fireteam Elite 2, signaling the continuation of its work within a well-known entertainment franchise. The company indicated that further details will...
EG7’s Far Far West Scores Blockbuster Early Access Debut on Steam
May 4, 2026
Enad Global 7 reported a strong debut for Far Far West, a western-themed co-op action game developed by Evil Raptor and published by its unit Fireshine Games, after its Early Access launch on Steam. The title builds on cooperative bounty-hunting g...
Enad Global 7 Schedules Live Q1 2026 Interim Report Presentation
Apr 27, 2026
Enad Global 7 has invited shareholders and other stakeholders to a live presentation of its Q1 2026 interim report, to be held on May 7, 2026 at 9:00 a.m. CEST and led by CEO Ji Ham alongside deputy CEO and CFO Fredrik Rüdén. The online ...
EG7’s Palia Hits 10 Million Players and Unveils Major Royal Highlands Expansion
Apr 22, 2026
Enad Global 7’s live service portfolio received a boost as Palia, the cozy life simulation game developed by Singularity 6, surpassed 10 million players worldwide, underscoring strong traction across PlayStation 5, Xbox Series X|S, Nintendo ...
Enad Global 7 Publishes 2025 Annual and Sustainability Report
Apr 21, 2026
Enad Global 7 AB has released its annual and sustainability report for the financial year January to December 2025, providing a comprehensive overview of the group’s operations, governance, and financial performance. The report includes segm...
EG7 Targets SEK 32 Million in Annual Savings With Organizational Realignment
Apr 13, 2026
Enad Global 7 is tightening its cost base across its Petrol and Piranha Games units and at the board and executive level, as part of an ongoing strategic review aimed at restoring sustainable profitability. The group, which develops and markets ga...
EG7’s Fireshine Sets April 28 Steam Launch for Highly Anticipated Far Far West
Apr 10, 2026
EG7’s publishing arm Fireshine Games is set to release Far Far West, a co-op first-person shooter developed by Evil Raptor, on PC via Steam on April 28, 2026, expanding the group’s indie-focused portfolio. Set in a stylized western wor...
EG7 Moves to Acquire Cold Iron to Bring Project Avo In-House and Simplify Structure
Apr 8, 2026
Enad Global 7 has signed a letter of intent to acquire Cold Iron Studios, the developer of Aliens: Fireteam Elite, bringing development of their upcoming multiplayer action shooter Project Avo fully in-house and simplifying EG7’s ownership s...
Enad Global 7 Calls 2026 Annual General Meeting in Stockholm
Apr 8, 2026
Enad Global 7 AB has convened its annual general meeting for 12 May 2026 in central Stockholm, offering shareholders the option to attend in person or vote in advance by postal voting. The notice details record dates, registration procedures, prox...
EG7’s Daybreak Games to Reimagine EverQuest with Solo-Friendly EverQuest Legends
Mar 25, 2026
Enad Global 7’s subsidiary Daybreak Games, in collaboration with indie studio Game Jawn, is launching EverQuest Legends, a modern reimagining of the original EverQuest aimed at both returning fans and new players. The title preserves the cla...
EG7’s Big Blue Bubble Unveils T-Pain Collaboration and Clubbox Concert Feature in My Singing Monsters
Feb 25, 2026
Big Blue Bubble, part of Enad Global 7, has launched a new collaboration with artist and songwriter T-Pain within its hit game My Singing Monsters, introducing the Clubbox virtual concert feature to deepen musical engagement. Clubbox offers player...
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.