Nitro Games Plc (SE:NITRO)
:NITRO
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Nitro Games Plc
(NITRO)
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Rating:56Neutral
Price Target:
kr2.00
▲(60.00% Upside)
Action:Reiterated
Date:06/10/26
The score is driven primarily by improving financial performance (return to profitability and stronger operating cash flow) but is held back by declining TTM revenue, thin net margins, and moderate leverage. Technicals are supportive but look overbought, while valuation (P/E ~30.85 with no dividend yield provided) is a key drag.
Positive Factors
Profitability & EBITDA
Sustained positive operating profit and a near-20% EBITDA margin indicate improved core earnings quality versus recent loss years. A durable EBITDA profile supports reinvestment in live-ops, funds product updates, and creates a margin buffer that helps the business withstand slower user growth over the next several quarters.
Negative Factors
Revenue Trend
A multi-period decline in revenue undermines operating leverage: recurring costs for live-ops and user acquisition become harder to cover, and growth investments risk delivering diminishing returns. If top-line erosion continues, margin and cash generation gains may be temporary rather than structural.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability & EBITDA
Sustained positive operating profit and a near-20% EBITDA margin indicate improved core earnings quality versus recent loss years. A durable EBITDA profile supports reinvestment in live-ops, funds product updates, and creates a margin buffer that helps the business withstand slower user growth over the next several quarters.
Read all positive factors
Nitro Games Plc (NITRO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr56.33M
Dividend YieldN/A
Average Volume (3M)27.06K
Price to Earnings (P/E)30.2
Beta (1Y)0.17
Revenue Growth-35.34%
EPS Growth-73.74%
CountrySE
Employees49
SectorTechnology
Sector Strength88
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)0.01
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)kr97.58M
Nitro Games Plc Business Overview & Revenue Model
Company Description
Nitro Games Oyj is a global developer and publisher, focusing on creating and distributing games for mobile devices worldwide. Beyond its own titles, the company also provides contract-based development services for external clients. Founded in 20...
How the Company Makes Money
Nitro Games makes money primarily through monetization of its free-to-play mobile games. Revenue is generated mainly from (1) in-app purchases, where players buy virtual currency, items, progression boosts, cosmetics, or other digital goods, and (...
Nitro Games Plc Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
48
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.55M | 8.62M | 11.39M | 8.84M | 7.25M | 2.64M |
| Gross Profit | 5.05M | 1.82M | 8.26M | 4.38M | 3.19M | 1.51M |
| EBITDA | 1.66M | 1.66M | 2.41M | -1.72M | -2.80M | ― |
| Net Income | 159.57K | 140.59K | 475.33K | -3.28M | ― | ― |
Balance Sheet | ||||||
| Total Assets | 6.78M | 6.25M | 7.54M | 10.67M | 7.95M | 7.02M |
| Cash, Cash Equivalents and Short-Term Investments | 2.45M | 1.52M | 2.02M | 3.83M | 1.60M | 3.74M |
| Total Debt | 3.28M | 2.98M | 2.92M | 2.68M | 3.69M | 1.72M |
| Total Liabilities | 4.05M | 3.62M | 5.16M | 8.98M | 7.44M | 3.12M |
| Stockholders Equity | 2.74M | 2.62M | 2.38M | 1.69M | 507.67K | 3.90M |
Cash Flow | ||||||
| Free Cash Flow | 1.31M | 284.43K | -661.30K | -2.70M | -4.12M | -2.93M |
| Operating Cash Flow | 2.39M | 1.40M | 538.70K | -537.10K | -2.92M | -2.38M |
| Investing Cash Flow | -1.12M | -1.12M | -1.20M | -2.11M | -1.20M | -545.50K |
| Financing Cash Flow | 99.07K | -788.21K | -1.15M | 4.88M | 1.98M | 3.68M |
Nitro Games Plc Technical Analysis
Positive
1.25
Price Trends
1.66
Positive
1.55
Positive
1.50
Positive
Market Momentum
0.14
Negative
61.50
Neutral
57.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:NITRO, the sentiment is Positive. The current price of 1.25 is below the 20-day moving average (MA) of 1.93, below the 50-day MA of 1.66, and below the 200-day MA of 1.50, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 61.50 is Neutral, neither overbought nor oversold. The STOCH value of 57.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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% | |
56 Neutral | kr56.33M | 30.19 | ― | ― | -35.34% | -73.74% | |
49 Neutral | kr21.27M | -3.45 | -31.43% | ― | -28.21% | -1.90% | |
44 Neutral | kr43.13M | 2.24 | 27.44% | ― | -48.06% | ― | |
41 Neutral | kr94.54M | -2.00 | ― | ― | 36.87% | 23.41% |
* Technology Sector Average
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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.