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Evolution AB (publ) develops, produces, markets, and licenses live casino and slots solutions to gaming operators in Europe, Asia, North America, Latin America, and internationally. It offers casino and live games shows under the Evolution and Ezugi brands; online casino under the NetEnt brand name; and casino games and software comprising jackpot system, a smart spins bonus management application, and tournaments gamification under the Red Tiger brand. It also provides slots titles and game mechanics under the Big Time Gaming brand; online casino platform and games under the Nolimit City brand name; HD spinning gaming wheels under the DigiWheel brand; and B2B social streaming games under the Livespins brand name. The company was formerly known as Evolution Gaming Group AB (publ). Evolution AB (publ) was founded in 2006 and is headquartered in Stockholm, Sweden.
Source: TradingView
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Evolution Gaming Group AB (ADR) provides live-dealer casino and related gaming solutions to online gambling operators worldwide. Long-term growth may be supported by expansion of regulated online gaming markets, product innovation, operator partnerships and selective acquisitions to expand scale and recurring revenue. Investors may find the company attractive as a leading B2B live-casino provider with recurring revenue and high operator switching costs.
Principal risks include regulatory and licensing changes across jurisdictions, intense competition and technological or operational disruptions that could limit market access or compress margins.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 1197.23M | 1438.92M | 1148.61M | 906.59M | 647.49M |
| Net income | 1062.10M | 1244.02M | 1070.86M | 843.36M | 605.43M |
| Gross profit | 2124.23M | 2112.28M | 1798.60M | 1456.74M | 1094.73M |
| Reconciled depreciation | 160.03M | 142.22M | 124.68M | 100.38M | 80.65M |
| Ebit | 1207.68M | 1445.29M | 1153.62M | 908.06M | 654.00M |
| Ebitda | 1361.40M | 1587.52M | 1278.30M | 1011.58M | 730.94M |
| Depreciation and amortization | 153.72M | 142.22M | 124.68M | 103.52M | 76.93M |
| Operating income | 1158.06M | 1419.55M | 1142.73M | 908.06M | 654.00M |
| Other operating expenses | 860.90M | 643.53M | 655.87M | 548.67M | 414.77M |
| Interest expense | 5.54M | 6.37M | 5.01M | 4.61M | 2.80M |
| Tax provision | 184.33M | 194.91M | 77.75M | 63.23M | 42.06M |
| Interest income | 16.44M | 22.34M | 14.36M | 5.31M | 0.23M |
| Net interest income | -10.88M | 19.37M | 9.26M | 0.14M | -2.96M |
| Income tax expense | 184.33M | 194.91M | 77.75M | 63.23M | 42.06M |
| Total revenue | 2066.54M | 2063.09M | 1798.60M | 1456.74M | 1068.78M |
| Total operating expenses | 918.59M | 692.73M | 655.87M | 548.67M | 440.73M |
| Cost of revenue | -57.69M | -49.20M | 673.13M | - | -25.95M |
| Total other income expense net | 39.18M | 19.37M | 5.88M | -1.47M | -6.51M |
| Net income from continuing ops | 1062.10M | 1244.02M | 1070.86M | 843.36M | 605.43M |
| Net income applicable to common shares | - | - | - | 843.36M | 605.43M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 5521.79M | 5346.77M | 4973.48M | 4369.37M | 3903.07M |
| Intangible assets | 682.27M | 692.40M | 714.51M | 742.93M | 757.25M |
| Other current assets | 740.99M | 797.23M | 364.98M | 569.13M | 384.46M |
| Total liab | 1445.34M | 1374.94M | 967.27M | 909.09M | 712.12M |
| Total stockholder equity | 4076.45M | 3971.84M | 4006.22M | 3460.28M | 3190.95M |
| Other current liab | 133.27M | 113.53M | 117.26M | 401.40M | 100.32M |
| Common stock | 0.65M | 0.65M | 0.65M | 0.65M | 0.65M |
| Capital stock | 0.65M | 0.65M | 0.65M | 0.65M | 0.65M |
| Retained earnings | 1800.67M | 1809.43M | 1800.91M | 1270.95M | 802.97M |
| Other liab | - | - | - | 418.04M | 288.82M |
| Good will | 2370.15M | 2276.52M | 2324.01M | 2315.33M | 2188.48M |
| Other assets | - | - | 14.62M | 11.65M | 13.46M |
| Cash | 817.60M | 787.07M | 985.76M | 532.55M | 421.43M |
| Total current liabilities | 1251.39M | 1103.09M | 561.32M | 425.89M | 370.13M |
| Current deferred revenue | - | - | 3.59M | - | 246.59M |
| Net debt | -726.53M | -693.41M | -906.30M | -453.00M | -353.62M |
| Short term debt | 18.24M | 16.27M | 13.92M | 14.39M | 14.64M |
| Short long term debt total | 91.07M | 93.66M | 79.46M | 79.55M | 67.81M |
| Other stockholder equity | 2275.13M | 2429.05M | 2204.66M | 2188.68M | 2387.34M |
| Property plant equipment | - | - | - | 190.08M | 134.47M |
| Total current assets | 2075.63M | 2005.89M | 1722.26M | 1109.38M | 809.41M |
| Net tangible assets | - | - | - | 402.02M | 245.22M |
| Net receivables | 517.03M | 421.60M | 364.35M | 277.01M | 357.65M |
| Inventory | 10.64M | 9.14M | 7.17M | 7.69M | 3.52M |
| Accounts payable | 10.99M | 16.05M | 13.06M | 10.09M | 8.58M |
| Accumulated other comprehensive income | - | -267.30M | -206.95M | - | - |
| Non currrent assets other | 12.78M | 10.54M | 6.78M | 8.87M | 11.10M |
| Non current assets total | 3446.16M | 3340.88M | 3251.22M | 3260.00M | 3093.66M |
| Capital lease obligations | 91.07M | 93.66M | 79.46M | 79.55M | 67.81M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | 0.85M | -247.97M | -139.36M | -371.60M | -154.95M |
| Change to liabilities | - | - | - | 1.20M | -7.11M |
| Total cashflows from investing activities | -139.44M | -247.97M | -139.36M | -371.60M | -154.95M |
| Net borrowings | - | - | - | -14.14M | -12.83M |
| Total cash from financing activities | -1045.78M | -1238.08M | -574.50M | -394.20M | -248.52M |
| Change to operating activities | - | - | - | -7.25M | -17.73M |
| Net income | 1257.31M | 1419.55M | 1142.73M | 908.06M | 654.00M |
| Change in cash | 111.25M | -184.28M | 453.20M | 111.12M | 199.76M |
| Begin period cash flow | 801.47M | 985.76M | 532.55M | 421.43M | 221.68M |
| End period cash flow | 817.95M | 801.47M | 985.76M | 532.55M | 421.43M |
| Total cash from operating activities | 1205.68M | 1301.00M | 1168.45M | 877.47M | 598.89M |
| Issuance of capital stock | 3.39M | 17.45M | -12.44M | 1.71M | 32.02M |
| Depreciation | 160.03M | 142.22M | 127.96M | 100.38M | 80.65M |
| Other cashflows from investing activities | -63.65M | -175.07M | -49.60M | -1.52M | -1.13M |
| Dividends paid | 549.90M | 559.27M | 427.40M | -302.75M | -144.38M |
| Change to inventory | - | - | 0.00M | - | - |
| Change to account receivables | -39.25M | -60.34M | -74.27M | -72.08M | -70.44M |
| Sale purchase of stock | -500.19M | -677.99M | -115.76M | -75.59M | -123.31M |
| Other cashflows from financing activities | -18.68M | -18.27M | -18.91M | -14.14M | -12.83M |
| Change to netincome | - | - | - | 11.85M | 8.10M |
| Capital expenditures | 134.83M | 136.71M | 94.19M | 96.94M | 61.59M |
| Change in working capital | -33.71M | -58.88M | -64.60M | -78.12M | -95.28M |
| Other non cash items | -177.95M | -201.89M | -37.65M | -52.85M | -40.47M |
| Free cash flow | 1120.39M | 1164.29M | 1074.26M | 780.53M | 537.30M |
Sector: Consumer Cyclical Industry: Gambling
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| EVVTY Evolution Gaming Group AB ADR |
-1.73 1.98% |
85.62 | 11.33 | 10.92 | 6.79 | 2.87 | 5.37 | 7.86 |
| ARLUF Aristocrat Leisure Limited |
- -% |
44.55 | 26.33 | 19.23 | 3.10 | 4.56 | 4.80 | 11.38 |
| GRKZF Greek Organization of Football Prognostics S.A |
- -% |
15.53 | 21.04 | 13.32 | 1.64 | 2.36 | 6.48 | 16.06 |
| FLUT Flutter Entertainment plc |
- -% |
81.70 | - | 14.77 | 1.01 | 2.00 | 1.54 | 16.36 |
| EVGGF Evolution AB (publ) |
- -% |
87.47 | 14.77 | 13.93 | 8.16 | 3.41 | 6.59 | 9.66 |
Evolution AB (publ) develops, produces, markets, and licenses live casino and slots solutions to gaming operators in Europe, Asia, North America, Latin America, and internationally. It offers casino and live games shows under the Evolution and Ezugi brands; online casino under the NetEnt brand name; and casino games and software comprising jackpot system, a smart spins bonus management application, and tournaments gamification under the Red Tiger brand. It also provides slots titles and game mechanics under the Big Time Gaming brand; online casino platform and games under the Nolimit City brand name; HD spinning gaming wheels under the DigiWheel brand; and B2B social streaming games under the Livespins brand name. The company was formerly known as Evolution Gaming Group AB (publ). Evolution AB (publ) was founded in 2006 and is headquartered in Stockholm, Sweden.
| Name | Title | Year Born |
|---|---|---|
| Mr. Jens von Bahr | Co-Founder, Chairman & Pres | 1971 |
| Mr. Martin Carlesund | Group Chief Exec. Officer | 1970 |
| Mr. Fredrik Österberg | Co-Founder & Director | 1970 |
| Mr. Richard Hadida | Co-Founder and Creative Director of Group | NA |
| Mr. Jacob Kaplan | Chief Financial Officer | 1973 |
| Mr. David Craelius | Chief Technology Officer | 1974 |
| Mr. Carl Herman Linton | Head of IR | 1972 |
| Amy Riches | Head of Marketing | NA |
| Ms. Louise Wivén-Nilsson | Chief HR Officer | 1972 |
| Mr. Todd Haushalter | Chief Product Officer & Games Operations | 1978 |
Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.
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Basic Materials
+0.61%
Communication Services
-0.21%
Consumer Cyclical
-0.26%
Consumer Defensive
-0.37%
Energy
+0.23%
Financial Services
-0.43%
Financials
+0.39%
Healthcare
+0.88%
Industrials
+0.36%
Real Estate
-0.51%
Technology
+1.35%
Utilities
+0.19%
Note: Daily price change (%) by sector excluding stocks with +/-90% daily price change. Companies above $500 million market capitalization are considered.
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