BETS-B Stock Analysis: Betsson | ST
Gambling | ST, Sweden | Market Cap: 12.692m SEK | 12M Return: -30.9% | SE0022726485 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 35.1M
EPS Trend: 5.9%
Qual. Beats: 0
Rev. Trend: 95.1%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.7 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.
Betsson AB (publ) is a Stockholm-based online gaming operator that offers casino games, sports betting, poker, and bingo through a portfolio of regional and product-specific brands, including Betsson, Betsafe, Starcasino, Nordicbet, Rizk, Jalla Casino, and Inkabet. Originally incorporated in 1963 as Cherryföretagen AB, the company adopted its current name in July 2006 and now operates internationally across multiple regulated markets. Listed on the Stockholm Stock Exchange under the ticker BETS-B, it sits within the GICS Casinos & Gaming sub-industry and is classified as a small-cap stock with a market capitalization of roughly $1.36 billion USD.
The online gaming sector in which Betsson operates is characterized by a multi-brand, multi-jurisdiction business model, where operators must hold local licenses to legally serve customers in each country, and revenue is generated primarily through the gross win margin (the difference between amounts wagered and payouts returned to players) on casino and betting products. Customer acquisition is largely digital and marketing-intensive, with operators competing on user experience, mobile platforms, and brand recognition rather than on physical premises.
- Casino segment revenue growth lifts group operating margin
- Latin America expansion via Inkabet accelerates emerging market share gains
- Nordic regulatory tightening increases compliance and licensing costs
| Net Income: 134.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA -5.79 > 1.0 |
| NWC/Revenue: 17.19% < 20% (prev 19.45%; Δ -2.25% < -1%) |
| CFO/TA 0.15 > 3% & CFO 206.6m > Net Income 134.3m |
| Net Debt (-90.0m) to EBITDA (255.7m): -0.35 < 3 |
| Current Ratio: 1.64 > 1.5 & < 3 |
| Outstanding Shares: last quarter (138.6m) vs 12m ago -1.42% < -2% |
| Gross Margin: 64.26% > 18% (prev 68.77%; Δ -4.51% > 0.5%) |
| Asset Turnover: 86.85% > 50% (prev 84.67%; Δ 2.18% > 0%) |
| Interest Coverage Ratio: 11.25 > 6 (EBIT TTM 201.7m / Interest Expense TTM 17.9m) |
| A: 0.15 (Total Current Assets 525.5m - Total Current Liabilities 320.0m) / Total Assets 1.35b |
| B: 0.55 (Retained Earnings 739.0m / Total Assets 1.35b) |
| C: 0.15 (EBIT TTM 201.7m / Avg Total Assets 1.38b) |
| D: 1.61 (Book Value of Equity 844.8m / Total Liabilities 523.1m) |
| Altman-Z'' = 5.46 = AAA |
| DSRI: 0.79 (Receivables 215.5m/271.9m, Revenue 1.20b/1.18b) |
| GMI: 1.07 (GM 68.77% / 64.26%) |
| AQI: 1.06 (AQ_t 0.59 / AQ_t-1 0.56) |
| SGI: 1.01 (Revenue 1.20b / 1.18b) |
| TATA: -0.05 (NI 134.3m - CFO 206.6m) / TA 1.35b) |
| Beneish M = -3.11 (Cap -4..+1) = AA |
As of October 10, 2026, the stock is trading at SEK 95.65 with a total of 347,179 shares traded. Over the past week, the price has changed by +2.41%, over one month by +1.43%, over three months by +7.17% and over the past year by -30.85%.
Current recommended Stop Loss: 92.80 (which is 3% or 1.2 ATR below the current price).
Betsson has no consensus analysts rating.
Market Cap EUR = 1.13b (12.7b SEK * 0.0893 SEK.EUR)
P/E Trailing = 8.6134
P/E Forward = 9.3284
P/S = 10.6188
P/B = 1.3941
P/EG = 0.9931
Revenue TTM = 1.20b EUR
EBIT TTM = 201.7m EUR
EBITDA TTM = 255.7m EUR
Long Term Debt = 173.6m EUR (from longTermDebt, last quarter)
Short Term Debt = 4.30m EUR (from shortTermDebt, last quarter)
Debt = 220.0m EUR (from shortLongTermDebtTotal, last quarter) + Leases 23.2m
Net Debt = -90.0m EUR (calculated: Debt 220.0m - CCE 310.0m)
Enterprise Value = 1.04b EUR (1.13b + Debt 220.0m - CCE 310.0m)
Interest Coverage Ratio = 11.25 (Ebit TTM 201.7m / Interest Expense TTM 17.9m)
EV/FCF = 7.58x (Enterprise Value 1.04b / FCF TTM 137.6m)
FCF Yield = 13.19% (FCF TTM 137.6m / Enterprise Value 1.04b)
FCF Margin = 11.51% (FCF TTM 137.6m / Revenue TTM 1.20b)
Net Margin = 11.23% (Net Income TTM 134.3m / Revenue TTM 1.20b)
Gross Margin = 64.26% ((Revenue TTM 1.20b - Cost of Revenue TTM 427.2m) / Revenue TTM)
Gross Margin QoQ = 57.24% (prev 57.60%)
Tobins Q-Ratio = 0.77 (Enterprise Value 1.04b / Total Assets 1.35b)
Interest Expense / Debt = 8.15% (Interest Expense 17.9m / Debt 220.0m)
Taxrate = 23.54% (43.4m / 184.4m)
NOPAT = 154.2m (EBIT 201.7m * (1 - 23.54%))
Current Ratio = 1.64 (Total Current Assets 525.5m / Total Current Liabilities 320.0m)
Debt / Equity = 0.26 (Debt 220.0m / totalStockholderEquity, last quarter 844.8m)
Debt / EBITDA = -0.35 (Net Debt -90.0m / EBITDA 255.7m)
Debt / FCF = -0.65 (Net Debt -90.0m / FCF TTM 137.6m)
Total Stockholder Equity = 884.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 9.76% (Net Income 134.3m / Total Assets 1.35b)
RoE = 15.17% (Net Income TTM 134.3m / Total Stockholder Equity 884.9m)
RoCE = 19.06% (EBIT 201.7m / Capital Employed (Equity 884.9m + L.T.Debt 173.6m))
RoIC = 15.77% (NOPAT 154.2m / Invested Capital 978.2m)
WACC = 6.10% (E(1.13b)/V(1.35b) * Re(6.08%) + D(220.0m)/V(1.35b) * Rd(8.15%) * (1-Tc(0.24)))
Discount Rate = 6.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 2.43 | Cagr: 0.41%
[DCF] Terminal Value 73.10% ; FCFF base≈171.8m ; Y1≈150.7m ; Y5≈121.7m
[DCF] Fair Price = 16.99 (EV 1.95b - Net Debt -90.0m = Equity 2.04b / Shares 120.3m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 5.85 | EPS CAGR: 0.94% | SUE: -0.57 | # QB: 0
Revenue Correlation: 95.07 | Revenue CAGR: 11.30% | SUE: -0.68 | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.79 | Chg30d=+3.87% | Revisions=+40% | Analysts=2
EPS current Year (2026-12-31): EPS=9.95 | Chg30d=+0.38% | Revisions=+17% | GrowthEPS=-27.4% | GrowthRev=+5.5%
EPS next Year (2027-12-31): EPS=11.37 | Chg30d=+1.27% | Revisions=-17% | GrowthEPS=+14.2% | GrowthRev=+5.6%
[Analyst] Revisions Ratio: +18% (up=5, down=3)