Evolution Gaming Group AB (EVO) AI Stock Analysis

• Market Cap: kr167.78B
• Dividend Yield: 3.81%
• Average Volume (3M): 569.36K
• Price to Earnings (P/E): 12.5
• Beta (1Y): 0.73
• Revenue Growth: 6.27%
• EPS Growth: 11.76%
• Country: SE
• Employees: 16,368
• Sector: Services
• Sector Strength: N/A
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): 13.47
• Shares Outstanding: 204,462,160
• 10 Day Avg. Volume: 488,517
• 30 Day Avg. Volume: 569,364
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: kr995.00
• Price Target Upside: 22.51% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 81 Outperform
• Price Target: kr938.00 ▲(15.49% Upside)

Evolution Gaming Group AB's overall stock score is driven by its strong financial performance and attractive valuation. While technical indicators and earnings call sentiment present some challenges, the company's robust financials and strategic initiatives provide a solid foundation for future growth.

Positive Factors

Strong Financial Performance

The company's strong financial health, characterized by high profitability and efficient cash flow, supports sustainable operations and growth, providing a solid foundation for long-term success.

North America Growth

Significant revenue growth in North America indicates successful market penetration and expansion, positioning the company well for continued success in a key growth region.

Strategic Partnerships

The exclusive licensing agreement with Hasbro enhances Evolution's product offerings and market reach, strengthening its competitive advantage and potential for revenue growth.

Negative Factors

European Regulatory Challenges

Regulatory challenges in Europe, leading to revenue declines, could hinder growth and require strategic adjustments to mitigate long-term impacts on the business.

Increased Operating Expenses

Rising operating expenses outpacing revenue growth may pressure margins and profitability, potentially affecting the company's ability to invest in future growth initiatives.

RNG Revenue Slowdown

Sluggish growth in RNG revenues suggests potential market saturation or competitive pressures, which could limit future revenue streams and require strategic innovation.

Evolution Gaming Group AB Business Overview & Revenue Model

Company Description

Evolution AB (publ) develops, produces, markets, and licenses live casino and slots solutions to gaming operators primarily in Europe and the United States. The company runs the game from a casino gaming table, which is streamed in real time and end users make betting decisions on their devices, such as computers, smartphones, tablets, etc. Its portfolio of online live table games primarily includes Live Roulette, Blackjack, Baccarat, Super Sic Bo, Dragon Tiger, Craps, Live Casino Hold'em, Three Card Poker, and Ultimate Texas Hold'em; and operates approximately 1000 tables. The company was formerly known as Evolution Gaming Group AB (publ). Evolution AB (publ) was founded in 2006 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Evolution Gaming generates revenue primarily through its business-to-business (B2B) model, where it provides live casino services to online gaming operators. The company charges its clients a fee based on a revenue-sharing model, which typically involves taking a percentage of the operators' gaming revenue generated from games powered by Evolution. Additionally, Evolution may charge fixed fees for the integration and setup of its gaming solutions. Key revenue streams include licensing agreements, game development royalties, and customized gaming solutions for high-profile clients. The company's partnerships with major online gambling platforms and its expansion into new markets also contribute significantly to its growth and earnings.

Evolution Gaming Group AB Financial Statement Overview

Summary

Evolution Gaming Group AB exhibits strong financial performance with high profitability, robust revenue growth, minimal leverage, and efficient cash flow generation. The income statement shows a high net profit margin of 57.6%, and the balance sheet reflects a low debt-to-equity ratio of 0.024. Cash flow is strong with a favorable operating cash flow to net income ratio of 1.05.

Income Statement

Evolution Gaming Group AB demonstrates an exceptionally strong income statement with a very high gross profit margin of 100% and a net profit margin of approximately 57.6% for the TTM period. Revenue growth has been robust, with the latest TTM revenue representing a significant increase from prior periods. Margins such as EBIT and EBITDA are also very high, indicating excellent operational efficiency and profitability.

Balance Sheet

The company's balance sheet is very healthy, with a low debt-to-equity ratio of approximately 0.024, indicating minimal leverage. The equity ratio stands at a solid 75.3%, reflecting a strong capital structure. However, a slight decrease in stockholders' equity from the previous annual report suggests some caution.

Cash Flow

Cash flow performance is strong, with a high free cash flow and a favorable operating cash flow to net income ratio of approximately 1.05, indicating efficient cash generation. Free cash flow growth remains positive, supporting the company's ability to invest and return capital to shareholders.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.10B	2.06B	1.80B	1.46B	1.07B	561.13M
Gross Profit	2.10B	2.11B	1.80B	1.46B	1.09B	561.13M
EBITDA	1.41B	1.59B	1.20B	1.01B	730.94M	332.26M
Net Income	1.21B	1.24B	1.07B	843.36M	605.43M	284.62M
Balance Sheet
Total Assets	4.95B	5.35B	4.97B	4.37B	3.90B	3.17B
Cash, Cash Equivalents and Short-Term Investments	494.89M	787.07M	985.76M	532.55M	421.43M	221.68M
Total Debt	89.88M	93.66M	79.46M	79.55M	67.81M	49.97M
Total Liabilities	1.22B	1.37B	967.27M	909.09M	712.12M	442.94M
Stockholders Equity	3.73B	3.97B	4.01B	3.46B	3.19B	2.73B
Cash Flow
Free Cash Flow	1.14B	1.16B	1.07B	780.53M	537.30M	279.17M
Operating Cash Flow	1.27B	1.30B	1.17B	877.47M	598.89M	316.05M
Investing Cash Flow	-248.39M	-247.97M	-139.36M	-371.60M	-154.95M	6.82M
Financing Cash Flow	-1.20B	-1.24B	-574.50M	-394.20M	-248.52M	-279.91M

Evolution Gaming Group AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 812.20
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:EVO, the sentiment is Negative. The current price of 812.2 is above the 20-day moving average (MA) of 806.70, below the 50-day MA of 836.80, and above the 200-day MA of 776.41, indicating a neutral trend. The MACD of -2.22 indicates Negative momentum. The RSI at 47.71 is Neutral, neither overbought nor oversold. The STOCH value of 55.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:EVO.

Evolution Gaming Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EVO	81 Outperform	kr167.78B	12.50	―	3.81%	6.27%	11.76%
BETS.B	74 Outperform	21.29B	9.71	22.58%	4.80%	15.10%	23.19%
BETCO	61 Neutral	7.46B	25.59	3.91%	―	-5.42%	-17.95%
KAMBI	55 Neutral	3.37B	35.52	5.02%	―	-5.16%	-48.79%
CTM	46 Neutral	148.24M	-0.29	-35.97%	―	-33.18%	10.56%
ACROUD	46 Neutral	175.96M	-0.41	-44.89%	―	1.98%	37.81%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Evolution Gaming Group AB Corporate Events

Evolution AB Enhances Shareholder Value Through Share Repurchase

Evolution AB has acquired 205,000 of its own shares as part of a repurchase program aimed at improving its capital structure and increasing shareholder value. This initiative, conducted in compliance with EU regulations, signifies Evolution’s strategic efforts to strengthen its financial position and enhance its market standing.

The most recent analyst rating on (SE:EVO) stock is a Buy with a SEK1125.00 price target. To see the full list of analyst forecasts on Evolution Gaming Group AB stock, see the SE:EVO Stock Forecast page.

Evolution AB Enhances Capital Structure Through Share Buyback

Evolution AB has repurchased 377,000 of its own shares between September 1 and September 5, 2025, as part of a board-approved program to enhance its capital structure and increase shareholder value. This buyback initiative, conducted in compliance with EU regulations, reflects Evolution’s strategic focus on optimizing its financial framework, potentially benefiting stakeholders by improving the company’s market positioning.

The most recent analyst rating on (SE:EVO) stock is a Buy with a SEK928.00 price target. To see the full list of analyst forecasts on Evolution Gaming Group AB stock, see the SE:EVO Stock Forecast page.

Evolution AB Enhances Capital Structure with Share Repurchase

Evolution AB (publ) announced the acquisition of 219,000 of its own shares between August 25 and August 29, 2025, as part of a repurchase program aimed at improving its capital structure and enhancing shareholder value. This program, compliant with EU regulations, has seen a total of 1,105,867 shares acquired since July 21, 2025, with a maximum of 20,446,216 shares permitted for repurchase, indicating a strategic move to strengthen its market position and benefit stakeholders.

The most recent analyst rating on (SE:EVO) stock is a Buy with a SEK1350.00 price target. To see the full list of analyst forecasts on Evolution Gaming Group AB stock, see the SE:EVO Stock Forecast page.

Evolution AB Enhances Capital Structure with Share Repurchase

Evolution AB has acquired 124,500 of its own shares as part of a repurchase program aimed at improving its capital structure and enhancing shareholder value. This program, in compliance with EU regulations, allows for a maximum acquisition of 20,446,216 shares, with Citibank managing the purchases independently on Nasdaq Stockholm.

The most recent analyst rating on (SE:EVO) stock is a Buy with a SEK996.00 price target. To see the full list of analyst forecasts on Evolution Gaming Group AB stock, see the SE:EVO Stock Forecast page.

Evolution AB Enhances Shareholder Value Through Share Repurchase

Evolution AB has acquired 248,000 of its own shares between August 11 and August 15, 2025, as part of a repurchase program aimed at improving its capital structure and enhancing shareholder value. The program, compliant with EU regulations, allows for a maximum acquisition of 20,446,216 shares, and as of August 15, Evolution’s holding of its own shares totals 2,327,848.

The most recent analyst rating on (SE:EVO) stock is a Hold with a SEK1170.00 price target. To see the full list of analyst forecasts on Evolution Gaming Group AB stock, see the SE:EVO Stock Forecast page.

Evolution AB Enhances Shareholder Value Through Share Repurchase

Evolution AB has repurchased 169,600 of its own shares between August 4 and August 8, 2025, as part of a board-approved program to enhance shareholder value by improving the company’s capital structure. The repurchase program, compliant with EU regulations, allows for a maximum acquisition of 20,446,216 shares, and aims to strengthen Evolution’s market position by reducing the total capital. As of August 8, 2025, Evolution holds 2,079,848 of its own shares, with Citibank executing the transactions independently on Nasdaq Stockholm.

The most recent analyst rating on (SE:EVO) stock is a Hold with a SEK1170.00 price target. To see the full list of analyst forecasts on Evolution Gaming Group AB stock, see the SE:EVO Stock Forecast page.

Evolution AB Enhances Shareholder Value Through Share Repurchase

Evolution AB has repurchased 173,767 of its own shares between July 28 and August 1, 2025, as part of a board-approved program to improve capital structure and enhance shareholder value. The repurchase, conducted under EU regulations, brings Evolution’s total holdings to 1,910,248 shares, with a maximum of 20,446,216 shares allowed for acquisition, indicating a strategic move to strengthen its market position.

The most recent analyst rating on (SE:EVO) stock is a Hold with a SEK1170.00 price target. To see the full list of analyst forecasts on Evolution Gaming Group AB stock, see the SE:EVO Stock Forecast page.