SBET Stock Analysis: Sharplink Gaming | NASDAQ
Capital Markets | NASDAQ, USA | Market Cap: 1.116m USD | 12M Return: -57% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 52.1M
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Sharplink, Inc. (NASDAQ: SBET) operates an institutional-grade Ethereum treasury platform, with its primary business focused on the accumulation and active management of ETH as a long-term corporate reserve asset. Staking activities are conducted within a defined governance, custody, and risk management framework, placing the company within the small but growing group of public firms that hold crypto assets as their principal treasury reserve.
The company also runs a performance-based affiliate marketing segment that drives player acquisition for licensed sportsbook and online casino operators, reflecting the iGaming industrys reliance on affiliate networks for customer acquisition. Operations in this segment include PAS.net, an international affiliate network, and a portfolio of U.S. state-specific digital properties.
Sharplink was founded in 2019 and is headquartered in Miami, Florida. The company was previously known as SharpLink Gaming, Inc. and rebranded to Sharplink, Inc. in February 2026.
- ETH price swings drive treasury valuation and staking yield
- Capital raises accelerate Ethereum accumulation strategy
- US sports betting regulation impacts affiliate marketing revenue
| Net Income: -1.42b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA 141.3 > 1.0 |
| NWC/Revenue: 31.97% < 20% (prev 45.81%; Δ -13.84% < -1%) |
| CFO/TA -0.02 > 3% & CFO -28.3m > Net Income -1.42b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 3.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (210.9m) vs 12m ago 39.6k% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 4.51% > 50% (prev 123.4%; Δ -118.9% > 0%) |
| Interest Coverage Ratio: -1.07 > 6 (EBIT TTM -730.8m / Interest Expense TTM 686.1m) |
| A: 0.01 (Total Current Assets 18.0m - Total Current Liabilities 5.44m) / Total Assets 1.74b |
| B: -0.86 (Retained Earnings -1.50b / Total Assets 1.74b) |
| C: -0.84 (EBIT TTM -730.8m / Avg Total Assets 873.4m) |
| D: 319.8 (Book Value of Equity 1.74b / Total Liabilities 5.44m) |
| Altman-Z'' = 327.4 = AAA |
| DSRI: 0.12 (Receivables 461k/323k, Revenue 39.4m/3.43m) |
| GMI: 0.23 (GM 21.90% / 95.62%) |
| AQI: 5.37 (AQ_t 0.99 / AQ_t-1 0.18) |
| SGI: 11.48 (Revenue 39.4m / 3.43m) |
| TATA: -0.80 (NI -1.42b - CFO -28.3m) / TA 1.74b) |
| Beneish M = 5.58 (Cap -4..+1) = D |
As of July 08, 2026, the stock is trading at USD 5.45 with a total of 8,847,642 shares traded. Over the past week, the price has changed by +10.77%, over one month by -1.27%, over three months by -12.66% and over the past year by -56.99%.
Current recommended Stop Loss: 4.90 (which is 10.1% or 1.4 ATR below the current price).
Sharplink Gaming has no consensus analysts rating.
P/E Forward = 71.9424
P/S = 28.3583
P/B = 0.6434
Revenue TTM = 39.4m USD
EBIT TTM = -730.8m USD
EBITDA TTM = -730.8m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 266k USD (Leases only: 266k)
Net Debt = -16.6m USD (calculated: Debt 266k - CCE 16.9m)
Enterprise Value = 1.10b USD (1.12b + Debt 266k - CCE 16.9m)
Interest Coverage Ratio = -1.07 (Ebit TTM -730.8m / Interest Expense TTM 686.1m)
EV/FCF = -38.82x (Enterprise Value 1.10b / FCF TTM -28.3m)
FCF Yield = -2.58% (FCF TTM -28.3m / Enterprise Value 1.10b)
FCF Margin = -71.97% (FCF TTM -28.3m / Revenue TTM 39.4m)
Net Margin = -3.60k% (Net Income TTM -1.42b / Revenue TTM 39.4m)
Gross Margin = unknown ((Revenue TTM 39.4m - Cost of Revenue TTM 1.72m) / Revenue TTM)
Tobins Q-Ratio = 0.63 (Enterprise Value 1.10b / Total Assets 1.74b)
Interest Expense / Debt = 258k% (Interest Expense 686.1m / Debt 266k)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -577.3m (EBIT -730.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.32 (Total Current Assets 18.0m / Total Current Liabilities 5.44m)
Debt / Equity = 0.00 (Debt 266k / totalStockholderEquity, last quarter 1.74b)
Debt / EBITDA = 0.02 (negative EBITDA) (Net Debt -16.6m / EBITDA -730.8m)
Debt / FCF = 0.59 (negative FCF - burning cash) (Net Debt -16.6m / FCF TTM -28.3m)
Total Stockholder Equity = 1.92b (last 4 quarters mean from totalStockholderEquity)
RoA = -162.5% (out of range, set to none)
RoE = -73.93% (Net Income TTM -1.42b / Total Stockholder Equity 1.92b)
RoCE = -42.03% (EBIT -730.8m / Capital Employed (Total Assets 1.74b - Current Liab 5.44m))
RoIC = -33.24% (negative operating profit) (NOPAT -577.3m / Invested Capital 1.74b)
WACC = 19.39% (E(1.12b)/V(1.12b) * Re(19.39%) + (debt cost/tax rate unavailable))
Discount Rate = 19.39% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 100.00 | Cagr: 1.95k%
[DCF] Fair Price = unknown (Cash Flow -28.3m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.01 | # QB: 0
Revenue Correlation: 56.85 | Revenue CAGR: 69.75% | SUE: N/A | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.01 | Chg30d=N/A | Revisions=+25% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.01 | Chg30d=N/A | Revisions=+25% | Analysts=3
EPS current Year (2026-12-31): EPS=-3.16 | Chg30d=-0.10% | Revisions=+25% | GrowthEPS=+57.1% | GrowthRev=+82.8%
EPS next Year (2027-12-31): EPS=0.10 | Chg30d=-2.56% | Revisions=+25% | GrowthEPS=+103.0% | GrowthRev=+30.1%
[Analyst] Revisions Ratio: +57% (up=4, down=0)