Want to see SE:MTG.B full AI Analyst Report?
Top Page
Modern Times Group AB
(MTG.B)
Select Model
Select Model
Rating:60Neutral
Price Target:
kr132.00
▲(19.46% Upside)
Action:Reiterated
Date:07/22/26
The score is supported primarily by strong financial performance—especially rapid revenue growth and robust free cash flow. This is tempered by a significant valuation concern (very high P/E) and a mixed technical picture with neutral momentum and a slightly negative MACD.
Positive Factors
Revenue Growth
Sustained TTM revenue growth (~44%) indicates successful studio outputs and expanding player monetization. Durable top-line expansion funds ongoing live-ops, R&D and new releases, reducing reliance on any single title and supporting medium-term reinvestment and scale benefits across the portfolio.
Negative Factors
Net Profit Volatility
Volatile net results and near‑breakeven TTM margin create unpredictability in retained earnings and shareholder returns. Even with strong revenue and gross margins, inconsistent bottom-line performance can force conservative cash deployment, raise scrutiny on cost structure, and limit sustainable returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained TTM revenue growth (~44%) indicates successful studio outputs and expanding player monetization. Durable top-line expansion funds ongoing live-ops, R&D and new releases, reducing reliance on any single title and supporting medium-term reinvestment and scale benefits across the portfolio.
Read all positive factors
Modern Times Group AB (MTG.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr16.37B
Dividend YieldN/A
Average Volume (3M)258.36K
Price to Earnings (P/E)94.4
Beta (1Y)0.10
Revenue Growth42.27%
EPS GrowthN/A
CountrySE
Employees2,324
SectorGeneral
Sector StrengthN/A
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)1.42
Shares Outstanding122,920,790
10 Day Avg. Volume324,122
30 Day Avg. Volume258,357
Financial Highlights & Ratios
PEG Ratio3.11
Price to Book (P/B)1.27
Price to Sales (P/S)1.16
P/FCF Ratio8.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr190.00Price Target Upside71.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)15.3
Revenue Forecast (FY)kr12.44B
Modern Times Group AB Business Overview & Revenue Model
Company Description
Modern Times Group MTG AB (publ) operates as a global digital entertainment powerhouse, with its operations spanning the United States, United Kingdom, Germany, wider Europe, Singapore, India, and New Zealand, among other international markets. Th...
How the Company Makes Money
MTG makes money mainly through revenues generated by its gaming studios from the sale and ongoing operation of video games. Key revenue streams typically include (1) game sales (digital downloads and/or premium titles where applicable), (2) in-gam...
Modern Times Group AB Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
70
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.23B | 11.58B | 6.01B | 5.83B | 5.54B | 5.31B |
| Gross Profit | 7.44B | 7.64B | 4.46B | 4.25B | 4.01B | 2.58B |
| EBITDA | 2.58B | 2.10B | 760.00M | 1.43B | 1.42B | 594.00M |
| Net Income | 171.00M | -62.00M | -210.00M | 164.00M | 252.00M | -455.00M |
Balance Sheet | ||||||
| Total Assets | 19.18B | 19.29B | 18.07B | 17.50B | 18.77B | 17.44B |
| Cash, Cash Equivalents and Short-Term Investments | 1.32B | 1.23B | 3.54B | 2.96B | 4.73B | 943.00M |
| Total Debt | 4.73B | 3.74B | 753.00M | 708.00M | 771.00M | 2.77B |
| Total Liabilities | 7.85B | 8.67B | 4.33B | 3.79B | 4.83B | 7.51B |
| Stockholders Equity | 11.33B | 10.62B | 13.74B | 13.71B | 13.93B | 8.00B |
Cash Flow | ||||||
| Free Cash Flow | 2.02B | 1.50B | 1.24B | 1.05B | 634.00M | 54.00M |
| Operating Cash Flow | 2.30B | 1.72B | 1.34B | 1.26B | 868.00M | 306.00M |
| Investing Cash Flow | -1.59B | -7.50B | -551.00M | -2.35B | -636.00M | -3.37B |
| Financing Cash Flow | -549.00M | 3.83B | -388.00M | -536.00M | -4.97B | 2.81B |
Modern Times Group AB Technical Analysis
Positive
110.50
Price Trends
124.83
Positive
119.79
Positive
112.73
Positive
Market Momentum
1.41
Negative
62.45
Neutral
45.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MTG.B, the sentiment is Positive. The current price of 110.5 is below the 20-day moving average (MA) of 127.51, below the 50-day MA of 124.83, and below the 200-day MA of 112.73, indicating a bullish trend. The MACD of 1.41 indicates Negative momentum. The RSI at 62.45 is Neutral, neither overbought nor oversold. The STOCH value of 45.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:MTG.B.
Modern Times Group AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | kr14.39B | 113.50 | 3.38% | 7.84% | 7.73% | -81.02% | |
63 Neutral | kr474.03M | 20.51 | 5.44% | 3.22% | -19.67% | -68.42% | |
63 Neutral | kr3.48B | -1.71 | ― | ― | -13.65% | 72.95% | |
60 Neutral | kr16.37B | 94.44 | 1.54% | ― | 42.27% | ― | |
60 Neutral | kr1.83B | -0.96 | ― | ― | -15.13% | -602.18% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | kr187.52M | -0.42 | -138.93% | ― | -8.66% | -91.13% |
* General Sector Average
SE:MTG.B
Modern Times Group AB
134.10
34.15
34.17%
SE:PDX
Paradox Interactive AB
136.20
-26.72
-16.40%
SE:G5EN
G5 Entertainment AB
63.80
-29.17
-31.37%
SE:STAR.B
Starbreeze AB
0.11
-0.08
-41.05%
SE:SF
Stillfront Group AB
6.71
1.86
38.46%
SE:EG7
Enad Global 7 AB
20.60
10.20
98.08%
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.