Starbreeze
0.327 SEK +3.35%108 investors are following this company
Starbreeze is a developer, creator, publisher, and distributor of games for PC and console, targeting the global market. With the IP PAYDAY™ as a core, Starbreeze develops games based on proprietary and third-party rights, both in-house and in partnership with external game developers. Starbreeze utilizes a ’Games as a Service’-modell, with continuous releases of add-ons and updatates to their games. The majority of operations are in Europe. The company’s headquarters is in Stockholm.
P/E (24e)
-2.14
EV/EBIT (adj.) (24e)
-1.15
P/B (24e)
0.7
Dividend yield-% (24e)
-
Target price
0.30 SEK
Recommendation
Reduce
Updated
15.5.2024
NASDAQ Stockholm
STAR B
Daily low / high price
0.306 / 0.33
SEK
Market cap
483.49M SEK
Turnover
1.98M SEK
Volume
6.3M
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
Christoffer Jennel
Analyst
Atte Riikola
Analyst
Financial calendar
Interim report
15.08.2024
Interim report
14.11.2024
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Digital Bros S.p.A | 21.0 % | 38.8 % |
Försäkringsaktiebolaget, Avanza pension | 7.0 % | 6.5 % |
Premium
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 118.0 | 125.7 | 127.6 | 633.5 | 184.2 | 133.0 | 357.5 | 247.2 |
growth-% | -57.9 % | 6.5 % | 1.5 % | 396.5 % | -70.9 % | -27.8 % | 168.9 % | -30.9 % |
EBITDA | 49.3 | 6.3 | 66.3 | 439.2 | 78.3 | 17.6 | 204.1 | 95.1 |
EBIT (adj.) | 10.9 | 15.0 | 6.7 | 190.3 | -230.4 | -85.4 | -87.7 | -1.4 |
EBIT | 10.9 | -53.7 | 6.7 | 190.3 | -210.5 | -85.4 | -87.7 | -1.4 |
Profit before taxes | -130.5 | -105.2 | -54.4 | 207.7 | -205.7 | -81.4 | -84.7 | 1.1 |
Net income | -130.3 | -103.5 | -59.8 | 207.6 | -205.8 | -81.4 | -84.7 | 1.1 |
EPS (adj.) | -0.28 | -0.05 | -0.08 | 0.19 | -0.15 | -0.06 | -0.06 | 0.00 |
growth-% | -180.7 % | |||||||
Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Dividend ratio |
Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 41.7 % | 5.0 % | 52.0 % | 69.3 % | 42.5 % | 13.2 % | 57.1 % | 38.5 % |
EBIT-% (adj.) | 9.2 % | 11.9 % | 5.3 % | 30.0 % | -125.0 % | -64.2 % | -24.5 % | -0.6 % |
EBIT-% | 9.2 % | -42.7 % | 5.3 % | 30.0 % | -114.2 % | -64.2 % | -24.5 % | -0.6 % |
ROE | -111.0 % | -58.9 % | -66.6 % | 43.6 % | -26.0 % | -12.6 % | -15.0 % | 0.2 % |
ROI | 2.7 % | -10.1 % | 1.4 % | 28.6 % | -26.4 % | -12.5 % | -14.0 % | 0.2 % |
Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (SEK) | 0.88 | 0.81 | 1.28 | 0.47 | 0.33 | 0.33 | 0.33 | 0.33 |
Shares | 724.6 | 724.6 | 724.6 | 1,476.8 | 1,476.8 | 1,476.8 | 1,476.8 | 1,476.8 |
Market cap | 639.1 | 587.7 | 926.8 | 691.1 | 483.5 | 483.5 | 483.5 | 483.5 |
Enterprise value | 774.4 | 880.8 | 1,198.2 | 343.1 | 264.0 | 462.1 | 481.2 | 615.3 |
EV/S | 6.6 | 7.0 | 9.4 | 0.5 | 1.4 | 3.5 | 1.3 | 2.5 |
EV/EBITDA | 15.7 | 140.5 | 18.1 | 0.8 | 3.4 | 26.3 | 2.4 | 6.5 |
EV/EBIT (adj.) | 71.2 | 58.9 | 177.6 | 1.8 | - | - | - | - |
EV/EBIT | 71.2 | - | 177.6 | 1.8 | - | - | - | - |
P/E (adj.) | - | - | - | 2.5 | - | - | - | 436.4 |
P/E | - | - | - | 2.5 | - | - | - | 436.4 |
P/B | 2.8 | 4.8 | 16.3 | 0.8 | 0.7 | 0.8 | 0.9 | 0.9 |
P/S | 5.4 | 4.7 | 7.3 | 1.1 | 2.6 | 3.6 | 1.4 | 2.0 |
Dividend yield | ||||||||
Equity ratio | 32.2 % | 18.2 % | 7.6 % | 80.5 % | 81.2 % | 81.5 % | 66.5 % | 61.8 % |
Gearing ratio | 59.2 % | 238.7 % | 478.0 % | -38.9 % | -31.9 % | -3.5 % | -0.4 % | 25.2 % |
Quarter data
Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24e | Q3/24e | Q4/24e | 2024e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 43.2 | 494.4 | 69.2 | 633.5 | 56.6 | 39.7 | 42.0 | 45.9 | 184.2 |
EBITDA | 14.1 | 441.7 | -20.6 | 439.2 | 48.5 | 9.9 | 9.3 | 10.6 | 78.3 |
EBIT | -3.0 | 299.9 | -95.0 | 190.3 | -23.3 | -59.8 | -64.9 | -62.5 | -210.5 |
Profit before taxes | 24.1 | 299.8 | -91.5 | 207.7 | -21.0 | -59.0 | -63.6 | -62.1 | -205.7 |
Net income | 24.7 | 299.6 | -91.7 | 207.6 | -21.0 | -59.0 | -63.6 | -62.1 | -205.8 |
ShowingAll content types
Starbreeze AB: PAYDAY™ 3: "Chapter II: Boys in Blue" Out Now
Starbreeze AB announces changes in group management
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