Super Group (SGHC) (SGHC)
NYSE:SGHC
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Super Group (SGHC)
(NYSE:SGHC)
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Rating:77Outperform
Price Target:
$14.00
▲(24.00% Upside)
Action:ReiteratedDate:04/22/26
The score is driven by strong financial quality (low leverage and solid cash generation) and a notably positive earnings call with improved margins and constructive 2026 guidance. Technicals support the trend but show near-term momentum is getting stretched, while valuation is only moderate due to the higher P/E despite a reasonable dividend yield.
Positive Factors
Cash generation
High EBITDA→FCF conversion (72%) and a $513m cash balance show durable cash generation. Strong FCF funds dividends, special payouts, tech investments and a $100m credit facility while supporting capital returns and strategic optionality over multiple years.
Negative Factors
Revenue and margin volatility
Top-line inconsistency and sharp gross margin swings undermine durable earnings predictability. If revenue growth and hold remain uneven across quarters, margin recovery depends on sustained marketing discipline, pricing and structural product mix changes, which can take multiple quarters to realize.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
High EBITDA→FCF conversion (72%) and a $513m cash balance show durable cash generation. Strong FCF funds dividends, special payouts, tech investments and a $100m credit facility while supporting capital returns and strategic optionality over multiple years.
Read all positive factors
Super Group (SGHC) (SGHC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.57B
Dividend Yield1.34%
Average Volume (3M)3.02M
Price to Earnings (P/E)22.6
Beta (1Y)1.41
Revenue Growth21.64%
EPS Growth77.82%
CountryUS
Employees3,589
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.40
Shares Outstanding508,076,780
10 Day Avg. Volume1,842,157
30 Day Avg. Volume3,015,421
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 Cap0.80
Enterprise Value/Revenue2.45
Enterprise Value/Gross Profit8.51
Enterprise Value/Ebitda13.33
Forecast
1Y Price Target
$17.00Price Target Upside50.58% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)0.85
Revenue Forecast (FY)$2.56B
Super Group (SGHC) Business Overview & Revenue Model
Company Description
Super Group (SGHC) Limited operates as an online sports betting and gaming operator. It offers Betway, an online sports betting brand; and Spin, a multi-brand online casino offering. The company is based in Saint Peter Port, Guernsey....
How the Company Makes Money
Super Group makes money by operating real-money online gambling products—mainly sports betting (Betway) and online casino games (Spin)—and earning gambling “net gaming revenue” (also commonly referred to as gross gaming revenue/net revenue dependi...
Super Group (SGHC) Key Performance Indicators (KPIs)
Super Group (SGHC) Earnings Call Summary
Earnings Call Date:Feb 23, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 27, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial performance for FY2025, including double-digit top-line growth, substantial EBITDA expansion and margin improvement, record customer and deposit metrics, strong cash generation and disciplined capital returns. Management also highlighted strategic technology initiatives (Apricot integration, AI pricing, Supercoin) and provided constructive 2026 guidance. Key risks discussed—sports-result volatility, regional regulatory/tax changes (UK, Alberta, South Africa), and some market-specific weakness (New Zealand, uncertain Nigeria rollout)—are material but appear manageable and largely embedded conservatively in guidance. Overall, the positives (robust growth, margin expansion, cash strength, strategic tech and product progress, and clear shareholder returns) notably outweigh the identified short-term and regulatory risks.Positive Updates
Record Annual Revenue and Strong Top-Line Growth
Total revenue for FY2025 reached $2,200,000,000, up 22% year-over-year, with Q4 revenue of $578,000,000, up 8% year-over-year.
Negative Updates
Late-Quarter Sports Results and Volatility
Customer-friendly sports outcomes in December negatively impacted results; estimated ~$20,000,000 EBITDA impact, demonstrating sports-margin volatility and risk to short-term profitability.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Annual Revenue and Strong Top-Line Growth
Total revenue for FY2025 reached $2,200,000,000, up 22% year-over-year, with Q4 revenue of $578,000,000, up 8% year-over-year.
Read all positive updates
Company Guidance
For 2026 Super Group guided to total revenue of at least $2,550,000,000 and adjusted EBITDA of more than $680,000,000 (versus FY25 revenue $2,200,000,000 and adjusted EBITDA $560,000,000, ~25% margin), calling the outlook “purely organic” and assuming continued customer engagement (Q4 average monthly active customers 6.1 million), a FIFA World Cup uplift, marketing discipline at roughly 22% of revenue, UK tax increases effective April, and Alberta regulation from mid‑year; the guide embeds Apricot annualized savings of about $35,000,000 and some early Supercoin/banking‑fee benefits, is supported by year‑end cash of $513,000,000 and a 72% EBITDA→FCF conversion in 2025, and the board raised the minimum quarterly dividend target from $0.04 to $0.05 per share (first payment toward March).Super Group (SGHC) Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
84
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.23B | 1.70B | 1.44B | 1.39B | 1.50B |
| Gross Profit | 606.41M | 841.42M | 666.28M | 703.14M | 876.85M |
| EBITDA | 424.87M | 241.49M | 101.69M | 305.19M | 357.60M |
| Net Income | 216.93M | 113.10M | -10.55M | 194.57M | 267.07M |
Balance Sheet | |||||
| Total Assets | 1.27B | 1.10B | 1.06B | 940.49M | 955.68M |
| Cash, Cash Equivalents and Short-Term Investments | 518.84M | 401.73M | 267.42M | 273.22M | 332.64M |
| Total Debt | 81.00M | 73.25M | 32.31M | 19.80M | 22.67M |
| Total Liabilities | 465.86M | 517.21M | 466.56M | 367.14M | 373.66M |
| Stockholders Equity | 802.75M | 580.15M | 575.16M | 555.58M | 582.02M |
Cash Flow | |||||
| Free Cash Flow | 325.90M | 199.62M | 79.30M | 139.30M | 183.10M |
| Operating Cash Flow | 366.89M | 295.09M | 132.85M | 166.84M | 209.85M |
| Investing Cash Flow | -137.96M | -110.08M | -5.01M | -96.52M | -18.16M |
| Financing Cash Flow | -151.95M | -56.35M | -131.16M | -103.18M | -39.76M |
Super Group (SGHC) Technical Analysis
Positive
11.29
Price Trends
10.37
Positive
10.46
Positive
11.01
Positive
Market Momentum
0.15
Negative
58.28
Neutral
80.71
Negative
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 11.29 is above the 20-day moving average (MA) of 10.72, above the 50-day MA of 10.37, and above the 200-day MA of 11.01, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 58.28 is Neutral, neither overbought nor oversold. The STOCH value of 80.71 is Negative, 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $6.57B | 22.56 | 28.52% | 1.34% | 21.64% | 77.82% | |
73 Outperform | $6.48B | 61.26 | 26.36% | ― | 28.20% | 310.24% | |
70 Outperform | $412.27M | ― | 7.85% | ― | 6.33% | -150.96% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $21.26B | 30.77 | 0.46% | ― | 26.99% | ― | |
60 Neutral | $2.24B | -217.94 | -44.48% | ― | 6.38% | -1099.20% | |
52 Neutral | $144.60M | -1.78 | -24.91% | ― | 30.09% | -209.61% |
* Consumer Cyclical Sector Average
SGHC
Super Group (SGHC)
12.93
4.50
53.45%
PENN
PENN Entertainment
16.75
1.46
9.55%
DKNG
DraftKings
23.92
-11.43
-32.33%
RSI
Rush Street Interactive
27.86
16.08
136.50%
CDRO
Codere Online
9.05
0.88
10.77%
GAMB
Gambling.com
4.12
-9.39
-69.50%
Super Group (SGHC) Corporate Events
Super Group Lifts Dividend, Secures New Credit Line as 2025 Earnings Surge
Feb 23, 2026
On February 23, 2026, Super Group reported unaudited results showing 2025 revenue of about $2.2 billion and fourth-quarter revenue of $578.3 million, with full-year profit before tax rising to $355.9 million and Adjusted EBITDA climbing to $559.5 ...
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.