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Super Group (SGHC)
(NYSE:SGHC)
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Rating:74Outperform
Price Target:
$15.50
▲(7.94% Upside)
Action:Reiterated
Date:08/05/26
SGHC scores well on fundamentals and management’s upbeat, guidance-raising earnings call, supported by low leverage and strong cash generation. The score is held back by softer technicals (weak short-term momentum) and a valuation that appears somewhat elevated (P/E ~29) despite a supportive ~3% dividend yield.
Positive Factors
Strong cash generation and conservative balance sheet
Substantial free cash flow conversion and a large cash balance, combined with low leverage, provide durable financial flexibility. This supports recurring dividends, buybacks, selective M&A and product investment while cushioning the business against regulatory or seasonal shocks over the medium term.
Negative Factors
Uneven revenue momentum and gross margin compression
Inconsistent top-line growth and notable gross margin swings signal exposure to pricing/promotional pressures, product mix shifts and competitive dynamics. If trend persists, it could undermine earnings durability and complicate sustained margin expansion despite strong operating cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation and conservative balance sheet
Substantial free cash flow conversion and a large cash balance, combined with low leverage, provide durable financial flexibility. This supports recurring dividends, buybacks, selective M&A and product investment while cushioning the business against regulatory or seasonal shocks over the medium term.
Read all positive factors
Super Group (SGHC) Key Performance Indicators (KPIs)
Super Group (SGHC) (SGHC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.76B
Dividend Yield3.23%
Average Volume (3M)2.84M
Price to Earnings (P/E)18.2
Beta (1Y)1.30
Revenue Growth17.33%
EPS Growth176.52%
CountryUS
Employees2,726
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.73
Shares Outstanding508,096,680
10 Day Avg. Volume2,442,233
30 Day Avg. Volume2,835,499
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)7.52
Price to Sales (P/S)2.71
P/FCF Ratio18.53
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$19.00Price Target Upside32.31% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.84
Revenue Forecast (FY)$2.62B
Super Group (SGHC) Business Overview & Revenue Model
Company Description
Super Group (SGHC) Limited operates as an online sports betting and gaming operator. The company offers Betway, an online sports betting and casino offering; and Spin, a multi-brand online casino. It operates in Africa, the Middle East, the Asia-P...
How the Company Makes Money
Super Group primarily makes money from online gambling revenue generated through its sportsbook and iGaming offerings. In sports betting, it earns revenue from the built-in margin on wagers (the difference between what it collects from losing bets...
Super Group (SGHC) Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational execution and financial results highlighted by record revenue, a 30% adjusted EBITDA margin, robust cash generation, significant growth in Africa, healthy customer metrics, and an upgraded full-year guidance. Headline risks were manageable: UK tax increases and some one-time G&A items reduced near-term international EBITDA, and there was seasonal MAU noise and World Cup time-zone limitations. Management emphasized disciplined capital allocation, selective M&A, and confidence in continued margin expansion and product cross-pollination.Positive Updates
Record Revenue and Profitability
Total revenue reached $684 million in Q2 2026, up 18% year-over-year. Adjusted EBITDA grew 30% year-over-year to $204 million, and adjusted EBITDA margin expanded to 30% (versus 27% prior year).
Negative Updates
UK Tax Headwinds and EBITDA Impact
Higher UK iGaming tax rates and short-term costs from strategic campaigns weighed on international adjusted EBITDA. Management has embedded the UK tax effect into guidance and noted it reduces near-term jurisdictional EBITDA.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Profitability
Total revenue reached $684 million in Q2 2026, up 18% year-over-year. Adjusted EBITDA grew 30% year-over-year to $204 million, and adjusted EBITDA margin expanded to 30% (versus 27% prior year).
Read all positive updates
Company Guidance
Super Group raised full‑year 2026 guidance to total revenue of more than $2.6 billion and adjusted EBITDA greater than $710 million, backed by Q2 results of $684 million revenue, $204 million adjusted EBITDA (30% margin vs. 27% a year ago) and a record sports margin of 17%; management highlighted MAUs of 6.2 million (+13% YoY), total wagering +8% for sports and +15% for casino, World Cup activity of 166 million football bets (≈100 million on World Cup) with new customer acquisition >3x the prior World Cup, H1 free cash flow conversion of 68%, cash of $548 million (+39% YoY) after returning $25 million this quarter ($218 million LTM), and said marketing will normalize to ~21–22% of revenue for the remainder of the year, expects combined sports margins around 13–14% as a run‑rate, plans Alberta migration completion by end‑September and a Namibia launch in Q4, and will prioritize disciplined capital allocation (organic investment, dividends/buybacks and selective bolt‑on M&A).Super Group (SGHC) Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
84
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.43B | 2.23B | 1.70B | 1.44B | 1.39B | 1.50B |
| Gross Profit | 716.57M | 606.41M | 841.42M | 666.28M | 703.14M | 876.85M |
| EBITDA | 612.68M | 366.89M | 241.49M | 101.69M | 305.19M | 357.60M |
| Net Income | 369.78M | 216.93M | 113.10M | -10.55M | 194.57M | 267.07M |
Balance Sheet | ||||||
| Total Assets | 1.37B | 1.27B | 1.10B | 1.06B | 940.49M | 955.68M |
| Cash, Cash Equivalents and Short-Term Investments | 548.00M | 518.84M | 401.73M | 267.42M | 273.22M | 332.64M |
| Total Debt | 107.00M | 81.00M | 73.25M | 32.31M | 19.80M | 22.67M |
| Total Liabilities | 536.00M | 465.86M | 517.21M | 466.56M | 367.14M | 373.66M |
| Stockholders Equity | 832.00M | 802.75M | 580.15M | 575.16M | 555.58M | 582.02M |
Cash Flow | ||||||
| Free Cash Flow | 253.00M | 325.90M | 199.62M | 79.30M | 139.30M | 183.10M |
| Operating Cash Flow | 256.00M | 366.89M | 295.09M | 132.85M | 166.84M | 209.85M |
| Investing Cash Flow | -64.00M | -137.96M | -110.08M | -5.01M | -96.52M | -18.16M |
| Financing Cash Flow | -157.00M | -151.95M | -56.35M | -131.16M | -103.18M | -39.76M |
Super Group (SGHC) Technical Analysis
Positive
14.36
Price Trends
13.96
Negative
13.02
Positive
11.78
Positive
Market Momentum
-0.35
Positive
43.36
Neutral
23.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SGHC, the sentiment is Positive. The current price of 14.36 is above the 20-day moving average (MA) of 13.95, above the 50-day MA of 13.96, and above the 200-day MA of 11.78, indicating a neutral trend. The MACD of -0.35 indicates Positive momentum. The RSI at 43.36 is Neutral, neither overbought nor oversold. The STOCH value of 23.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SGHC.
Super Group (SGHC) Risk Analysis
Super Group (SGHC) disclosed 81 risk factors in its most recent earnings report. Super Group (SGHC) reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Super Group (SGHC) Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $6.76B | 18.22 | 45.70% | 2.99% | 17.33% | 176.52% | |
72 Outperform | $5.93B | 84.28 | 20.44% | ― | 34.29% | 14.69% | |
67 Neutral | $416.96M | 249.25 | 5.25% | ― | 6.33% | -150.96% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
53 Neutral | $23.25B | -77.61 | -26.30% | ― | 15.03% | 46.89% | |
52 Neutral | $2.52B | -2.96 | -48.48% | ― | 6.14% | -1168.84% |
* Consumer Cyclical Sector Average
SGHC
Super Group (SGHC)
13.30
2.30
20.90%
PENN
PENN Entertainment
18.79
0.11
0.62%
DKNG
DraftKings
26.14
-19.56
-42.80%
RSI
Rush Street Interactive
25.58
5.57
27.84%
CDRO
Codere Online
9.17
1.05
12.93%
Super Group (SGHC) Corporate Events
Super Group Lifts 2026 Outlook After Record Second-Quarter Results
Aug 4, 2026
Super Group reported record second-quarter 2026 results on August 4, 2026, with revenue rising 18% year on year to $684 million, profit of $123 million versus a prior-year loss, and Adjusted EBITDA up 30% to $204 million, lifting margins to 30%. M...
Super Group Shareholders Approve 2026 AGM Resolutions and Board Slate
Jul 1, 2026
Super Group (SGHC) Limited reported the results of its 2026 Annual Meeting of Shareholders held on June 25, 2026, where 86.13% of eligible shares were represented. Shareholders received and approved the company’s annual report and audited fi...
Super Group Declares Second Quarterly Dividend, Lifting 2026 Payouts to 10 Cents per Share
Jun 11, 2026
On June 9, 2026, Super Group’s board declared a regular cash dividend of 5¢ per ordinary share, payable on June 30 to shareholders of record as of June 23. Combined with the 5¢ per share distribution paid on March 30 for the first ...
Super Group (SGHC) Sets June 25, 2026 AGM and Seeks New Share Buyback Authority
May 14, 2026
Super Group (SGHC) Limited, a Guernsey-based foreign private issuer active in global online betting and gaming, is governed by Guernsey company law and U.S. securities rules applicable to non‑U.S. issuers. Its shares trade on the New York St...
Super Group Reshapes Financial Reporting Around Africa and International Segments
May 13, 2026
In the first quarter of 2026, Super Group (SGHC) restructured its internal management and reporting framework, shifting from product-based segments Betway and Spin to two geographic segments, Africa and International, effective for the year ending...
Super Group posts record Q1 2026 results and pivots to regional reporting
May 11, 2026
Super Group reported record first-quarter 2026 results on May 11, 2026, posting revenue of $612 million, up 18% year over year, and profit of $86 million, compared with $59 million a year earlier. Adjusted EBITDA climbed 36% to $152 million, lifti...
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.