Nitro Games Plc (SE:NITRO)
:NITRO
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Nitro Games Plc
(NITRO)
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Rating:59Neutral
Price Target:
kr1.50
▲(20.00% Upside)
Action:ReiteratedDate:03/18/26
The score is driven mainly by improving fundamentals (return to profitability and stronger cash generation) but tempered by 2025 revenue decline, thinner margins, and still-meaningful leverage. Technicals are mildly supportive (price above key moving averages) but mixed due to negative MACD, while valuation is moderately favorable on a ~13.9 P/E.
Positive Factors
Cash generation improvement
Nitro's operating and free cash flow reversed into solid positive territory by 2024–2025, showing the business can generate internal funds to fund live operations and episodic content. Stronger cash conversion improves financial flexibility, lowers external funding needs, and supports reinvestment into user acquisition and product updates, though past volatility implies monitoring cash stability remains prudent.
Negative Factors
Revenue decline & margin compression
A year-over-year revenue fall and notable margin erosion in 2025 signal that Nitro's recovery is not yet robust. Lower revenue with compressed margins undermines scalable cash generation and limits reinvestment capacity; if this trend persists, it could reverse recent profitability gains and strain operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation improvement
Nitro's operating and free cash flow reversed into solid positive territory by 2024–2025, showing the business can generate internal funds to fund live operations and episodic content. Stronger cash conversion improves financial flexibility, lowers external funding needs, and supports reinvestment into user acquisition and product updates, though past volatility implies monitoring cash stability remains prudent.
Read all positive factors
Nitro Games Plc (NITRO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr32.40M
Dividend YieldN/A
Average Volume (3M)27.06K
Price to Earnings (P/E)13.9
Beta (1Y)0.32
Revenue Growth-18.60%
EPS Growth-118.88%
CountrySE
Employees49
SectorTechnology
Sector Strength88
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)0.17
Shares Outstanding24,924,364
10 Day Avg. Volume20,491
30 Day Avg. Volume27,064
Financial Highlights & Ratios
PEG Ratio-0.30
Price to Book (P/B)0.75
Price to Sales (P/S)0.23
P/FCF Ratio6.88
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)N/A
Revenue Forecast (FY)kr98.37M
Nitro Games Plc Business Overview & Revenue Model
Company Description
Nitro Games Plc (NITRO) is a mobile game development company based in Finland, specializing in the creation of engaging free-to-play games across various genres, including action, strategy, and simulation. The company focuses on delivering high-qu...
How the Company Makes Money
Nitro Games primarily generates revenue from its free-to-play mobile games via live-operations monetization, where players can download games at no cost and the company earns money through in-app purchases (e.g., virtual currency, items, battle/se...
Nitro Games Plc Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
52
Neutral
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.62M | 11.39M | 8.84M | 7.25M | 2.64M |
| Gross Profit | 1.82M | 8.26M | 4.38M | 3.19M | 1.51M |
| EBITDA | 1.66M | 2.41M | -1.72M | -2.80M | ― |
| Net Income | 140.59K | 475.33K | -3.28M | ― | ― |
Balance Sheet | |||||
| Total Assets | 6.25M | 7.54M | 10.67M | 7.95M | 7.02M |
| Cash, Cash Equivalents and Short-Term Investments | 1.52M | 2.02M | 3.83M | 1.60M | 3.74M |
| Total Debt | 2.98M | 2.92M | 2.68M | 3.69M | 1.72M |
| Total Liabilities | 3.62M | 5.16M | 8.98M | 7.44M | 3.12M |
| Stockholders Equity | 2.62M | 2.38M | 1.69M | 507.67K | 3.90M |
Cash Flow | |||||
| Free Cash Flow | 284.43K | -661.30K | -2.70M | -4.12M | -2.93M |
| Operating Cash Flow | 1.40M | 538.70K | -537.10K | -2.92M | -2.38M |
| Investing Cash Flow | -1.12M | -1.20M | -2.11M | -1.20M | -545.50K |
| Financing Cash Flow | -788.21K | -1.15M | 4.88M | 1.98M | 3.68M |
Nitro Games Plc Technical Analysis
Negative
1.25
Price Trends
1.43
Negative
1.41
Negative
1.45
Negative
Market Momentum
-0.03
Positive
44.04
Neutral
15.43
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NITRO, the sentiment is Negative. The current price of 1.25 is below the 20-day moving average (MA) of 1.36, below the 50-day MA of 1.43, and below the 200-day MA of 1.45, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 44.04 is Neutral, neither overbought nor oversold. The STOCH value of 15.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:NITRO.
Nitro Games Plc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | kr32.40M | 13.91 | ― | ― | -18.60% | -118.88% | |
48 Neutral | kr55.89M | 5.93 | 27.44% | ― | -10.21% | -1.15% | |
41 Neutral | kr15.68M | -2.51 | -31.43% | ― | -34.32% | 70.25% | |
41 Neutral | kr124.50M | -3.85 | ― | ― | 32.83% | 13.34% |
* Technology Sector Average
SE:NITRO
Nitro Games Plc
1.30
-0.29
-18.19%
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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.