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Evolution AB (publ) (EVO.ST)

SEK692.60 -5.40 (-0.77%)
SE STO Consumer Cyclical Gambling, Resorts & Casinos
Address Vasagatan 16 111 20
Stockholm, SE
CEO Martin Carlesund
Website evolution.com
IPO 2015-03-20
ISIN SE0012673267

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Also trades on Other OTC · EVGGF (USD) Other OTC · EVVTY (USD) Stockholm Stock Exchange · EVO.ST (SEK) Stuttgart Stock Exchange · E3G1.SG (EUR)
Description

Evolution AB (publ) specializes in the creation, production, promotion, and licensing of live casino and slot game offerings, catering to online gaming operators mainly throughout Europe and the United States. Their innovative live casino system broadcasts games directly from physical casino tables in real-time, allowing players to place wagers instantly via their personal devices, including computers, smartphones, and tablets. The company's extensive suite of online live table games features popular titles such as Live Roulette, Blackjack, Baccarat, Super Sic Bo, Dragon Tiger, Craps, Live Casino Hold'em, Three Card Poker, and Ultimate Texas Hold'em, supported by a vast network of roughly 1000 tables. Established in 2006, this Stockholm, Sweden-based enterprise was previously known as Evolution Gaming Group AB (publ).

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
SEK692.60 -5.40 (-0.77%)
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Volume Profile
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Liquidity & share structure
Average Volume
664.4K
Beta
0.70
Float Shares
121.42M
Free Float %
61.1%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.28% -0.88% +8.47% +27.06% +8.00% +11.63% +5.90% -51.05% -56.10% +1,101.38% +3,781.89%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
692.60
DCF (Unlevered) 1,315.11 +89.9%
DCF (Levered) 1,307.76 +88.8%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 24% Bullish
Rating 2026-05 Change
Strong Buy 2 +1
Buy 2 0
Hold 6 0
Sell 3 0
Strong Sell 4 0
Quality scores
Altman Z-Score
6.75
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
7 / 10
Strong MOAT
Composite Rating
A+
Overall Score
4 / 5
High
DCF Score
4 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
4 / 5
High
P/E Score
4 / 5
High
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • ✗
    Revenue growth Gambling, Resorts & Casinos: +5.3%
    -4.3% Q1'26: -1.5% (vs Q1'25)
  • ✗
    EPS growth Gambling, Resorts & Casinos: +9.4%
    -9.8% Q1'26: +1.6% (vs Q1'25)
  • ✓
    FCF margin FCF growth · Gambling, Resorts & Casinos: +17.3%
    +53.0% Q1'26: +60.7% (vs Q1'25)
  • ✓
    EBIT margin Gambling, Resorts & Casinos: +17.5%
    +59.4% ★ Q1'26: +57.0% (vs Q1'25)
  • ✓
    ROIC Gambling, Resorts & Casinos: +8.0%
    +31.4% ★ Q1'26: +29.8% (vs Q1'25)
  • ✓
    Share dilution Gambling, Resorts & Casinos: +0.3%
    -3.6% ★ Q1'26: -5.1% (vs Q1'25)
  • ✓
    Debt / EBITDA Net debt/EBITDA · Gambling, Resorts & Casinos: 0.94×
    0.12× ★ Q1'26: 0.07× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.70) × ERP
WACC = 99% × Ke + 1% × Kd (6.8%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 1,315.11 Current price: 692.60
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2015
actual 		Dec 2016
actual 		Dec 2017
actual 		Dec 2018
actual 		Dec 2019
actual 		Dec 2020
actual 		Dec 2021
actual 		Dec 2022
actual 		Dec 2023
actual 		Dec 2024
actual 		Dec 2025
actual 		Dec 2026
16 Rev. Ana.
15 EPS Ana. 		Dec 2027
16 Rev. Ana.
15 EPS Ana. 		Dec 2028
14 Rev. Ana.
11 EPS Ana. 		Dec 2029
9 Rev. Ana.
4 EPS Ana.
Revenue
76.36M
est: 73.35M (+4.1%)
115.46M
est: 113.03M (+2.2%)
178.39M
est: 177.45M (+0.5%)
245.42M
est: 249.46M (-1.6%)
365.75M
est: 371.39M (-1.5%)
561.13M
est: 538.84M (+4.1%)
1.07B
est: 1.07B (-0.4%)
1.46B
est: 1.47B (-1.2%)
1.80B
est: 169.52M (+961.0%)
2.21B
est: 2.09B (+6.0%)
2.12B
est: 2.07B (+2.2%)
2.10B
2.06B – 2.16B
+1.1% YoY
2.24B
2.11B – 2.43B
+6.7% YoY
2.40B
2.31B – 2.55B
+7.5% YoY
2.65B
2.55B – 2.80B
+10.2% YoY
EBITDA
23.40M
est: 46.97M (-50.2%)
38.90M
est: 72.37M (-46.2%)
72.04M
est: 113.62M (-36.6%)
97.37M
est: 159.73M (-39.0%)
169.29M
est: 237.80M (-28.8%)
316.93M
est: 345.01M (-8.1%)
694.86M
est: 687.24M (+1.1%)
954.58M
est: 943.62M (+1.2%)
1.20B
est: 117.32M (+919.6%)
1.48B
est: 1.45B (+2.0%)
1.42B
est: 1.43B (-1.2%)
1.45B
1.43B – 1.49B
+1.1% YoY
1.55B
1.46B – 1.68B
+6.7% YoY
1.66B
1.60B – 1.76B
+7.5% YoY
1.83B
1.76B – 1.94B
+10.2% YoY
EBIT
21.08M
est: 44.72M (-52.8%)
34.87M
est: 68.90M (-49.4%)
66.88M
est: 108.18M (-38.2%)
89.48M
est: 152.08M (-41.2%)
157.47M
est: 226.41M (-30.4%)
300.50M
est: 328.49M (-8.5%)
654.84M
est: 654.32M (+0.1%)
908.18M
est: 898.42M (+1.1%)
1.14B
est: 105.31M (+985.1%)
1.42B
est: 1.30B (+9.4%)
1.26B
est: 1.29B (-2.3%)
1.30B
1.28B – 1.34B
+1.1% YoY
1.39B
1.31B – 1.51B
+6.7% YoY
1.49B
1.44B – 1.58B
+7.5% YoY
1.64B
1.58B – 1.74B
+10.2% YoY
Net Income
20.03M
est: 26.98M (-25.8%)
31.74M
est: 36.57M (-13.2%)
62.13M
est: 71.43M (-13.0%)
83.46M
est: 96.02M (-13.1%)
149.73M
est: 175.55M (-14.7%)
284.62M
est: 318.50M (-10.6%)
605.44M
est: 588.16M (+2.9%)
843.36M
est: 838.51M (+0.6%)
1.07B
est: 95.70M (+1,019.0%)
1.24B
est: 1.10B (+13.4%)
1.06B
est: 1.03B (+2.7%)
1.06B
1.01B – 1.12B
+2.9% YoY
1.21B
1.08B – 1.35B
+13.7% YoY
1.42B
1.22B – 1.62B
+17.1% YoY
1.39B
1.33B – 1.50B
-1.6% YoY
SGA
34.85M
est: 15.07M (+131.3%)
53.22M
est: 23.22M (+129.2%)
72.12M
est: 36.45M (+97.9%)
97.67M
est: 51.24M (+90.6%)
126.42M
est: 76.29M (+65.7%)
133.75M
est: 110.68M (+20.8%)
207.41M
est: 220.47M (-5.9%)
289.82M
est: 302.72M (-4.3%)
355.62M
est: 26.74M (+1,229.9%)
438.28M
est: 329.60M (+33.0%)
—
est: 326.87M (-100.0%)
330.62M
325.03M – 340.17M
+1.1% YoY
352.68M
333.12M – 383.70M
+6.7% YoY
378.97M
365.02M – 401.46M
+7.5% YoY
417.54M
402.17M – 442.32M
+10.2% YoY
EPS
0.11
est: 0.13 (-14.2%)
0.18
est: 0.17 (+3.6%)
0.35
est: 0.34 (+3.1%)
0.46
est: 0.46 (+0.8%)
0.83
est: 0.83 (-0.5%)
1.55
est: 1.51 (+2.4%)
2.83
est: 2.79 (+1.3%)
4.59
est: 3.98 (+15.2%)
4.93
est: 0.45 (+994.3%)
5.94
est: 5.33 (+11.5%)
5.34
est: 5.02 (+6.3%)
5.25
4.96 – 5.53
+4.6% YoY
5.90
5.30 – 6.63
+12.3% YoY
6.61
5.99 – 7.97
+12.1% YoY
6.87
6.54 – 7.40
+3.9% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-28 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-27 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-26 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-25 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-22 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-21 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-20 A+ 4/5 4/5 5/5 5/5 4/5 4/5 2/5
2026-05-19 A 4/5 4/5 5/5 5/5 3/5 4/5 2/5
2026-05-18 A 4/5 4/5 5/5 5/5 3/5 4/5 2/5
2026-05-15 A 4/5 4/5 5/5 5/5 3/5 4/5 2/5
2026-05-13 A 4/5 4/5 5/5 5/5 3/5 4/5 2/5
2026-05-12 A+ 4/5 5/5 5/5 5/5 3/5 4/5 2/5
2026-05-11 A+ 4/5 5/5 5/5 5/5 3/5 4/5 2/5
2026-05-08 A+ 5/5 5/5 5/5 5/5 3/5 4/5 3/5
2026-05-07 A+ 4/5 4/5 5/5 5/5 3/5 4/5 3/5
2026-05-06 A+ 4/5 4/5 5/5 5/5 3/5 4/5 3/5
2026-05-05 A+ 4/5 4/5 5/5 5/5 3/5 4/5 3/5
2026-05-04 A+ 4/5 4/5 5/5 5/5 3/5 4/5 3/5
2026-04-30 A+ 4/5 4/5 5/5 5/5 3/5 4/5 3/5
2026-04-29 A 4/5 4/5 5/5 5/5 2/5 4/5 3/5
2026-04-28 A 4/5 4/5 5/5 5/5 2/5 4/5 3/5
2026-04-27 A 4/5 4/5 5/5 5/5 2/5 4/5 3/5
2026-04-24 A 4/5 4/5 5/5 5/5 2/5 4/5 3/5
2026-04-23 B+ 3/5 4/5 5/5 5/5 2/5 1/5 1/5
2026-04-22 A 4/5 4/5 5/5 5/5 2/5 4/5 2/5
2026-04-21 A 4/5 4/5 5/5 5/5 2/5 4/5 2/5
2026-04-20 A 4/5 4/5 5/5 5/5 2/5 4/5 2/5
2026-04-17 A 4/5 4/5 5/5 5/5 2/5 4/5 2/5
2026-04-16 A 4/5 4/5 5/5 5/5 2/5 4/5 2/5
2026-04-15 A 4/5 4/5 5/5 5/5 2/5 4/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
1.13B
OE per share TTM
5.62
Owner's Yield
0.81%
Maintenance CapEx ratio
14.13%
Maint CapEx / Avg PPE
12.7%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
76.8K
Shares Outstanding
198.69M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Martin Carlesund Group Chief Executive Officer 9M male
Jens von Bahr Co-Founder, Chairman & President 526.0K male
Fredrik Österberg Co-Founder & Director 175.0K male
Louise Wivén-Nilsson Chief Human Resources Officer — female
Amy Riches Head of Marketing — —
Todd Haushalter Chief Product Officer & Games Operations — male
Carl Herman Linton Head of IR — male
Joakim Andersson Chief Financial Officer — male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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