HACK Stock Analysis: Hacksaw | ST
Electronic Gaming & Multimedia | ST, Sweden | Market Cap: 16.542m SEK | 12M Return: -16.5% | SE0025138357 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 78.4M
Rev. Trend: 98.3%
Warnings
Tailwinds
No distinct edge detected
Seasonality 1.2 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.
Hacksaw AB (publ) is a Sweden-based B2B technology platform and game development company, founded in 2017 and headquartered in Stockholm, with operations also in the Czech Republic. The company develops and distributes digital slots, scratch cards, and instant win games to private and state-owned iGaming operators, and also produces remote gaming servers (RGS), the backend technology that powers online casino game delivery and gameplay management. Listed under the ticker HACK, Hacksaw sits within the Communication Services sector (Electronic Gaming & Multimedia industry) and serves the global online gambling supply chain as a content and platform provider rather than an operator.
- US state-by-state iGaming licensing accelerates revenue growth
- Operator jackpot clusters compress quarterly slot margins
- RGS platform adoption deepens recurring B2B software revenue
| Net Income: 172.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 1.04 > 0.02 and ΔFCF/TA -552.7 > 1.0 |
| NWC/Revenue: 50.11% < 20% (prev 10.08%; Δ 40.03% < -1%) |
| CFO/TA 1.10 > 3% & CFO 173.2m > Net Income 172.0m |
| Net Debt (-96.4m) to EBITDA (188.0m): -0.51 < 3 |
| Current Ratio: 5.30 > 1.5 & < 3 |
| Outstanding Shares: last quarter (289.2m) vs 12m ago 13.50% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 174.5% > 50% (prev 632.1%; Δ -457.6% > 0%) |
| Interest Coverage Ratio: 323.8 > 6 (EBIT TTM 182.6m / Interest Expense TTM 564k) |
| A: 0.71 (Total Current Assets 138.2m - Total Current Liabilities 26.1m) / Total Assets 156.9m |
| B: -0.99 (Retained Earnings -156.0m / Total Assets 156.9m) |
| C: 1.42 (EBIT TTM 182.6m / Avg Total Assets 128.2m) |
| D: 4.66 (Book Value of Equity 129.2m / Total Liabilities 27.7m) |
| Altman-Z'' = 15.91 = AAA |
| DSRI: 3.0 (Receivables 38.8m/14.3m, Revenue 223.8m/628.9m) |
| GMI: 0.99 (GM 95.92% / 97.26%) |
| AQI: 1.17 (AQ_t 0.09 / AQ_t-1 0.08) |
| SGI: 0.36 (Revenue 223.8m / 628.9m) |
| TATA: -0.01 (NI 172.0m - CFO 173.2m) / TA 156.9m) |
| Beneish M = -1.75 (Cap -4..+1) = CCC |
As of October 22, 2026, the stock is trading at SEK 55.80 with a total of 1,157,847 shares traded. Over the past week, the price has changed by +1.00%, over one month by -37.72%, over three months by -22.07% and over the past year by -16.48%.
Current recommended Stop Loss: 51.50 (which is 7.7% or 1.2 ATR below the current price).
Hacksaw has no consensus analysts rating.
Market Cap EUR = 1.49b (16.5b SEK * 0.09 SEK.EUR)
P/E Trailing = 8.449
P/S = 73.844
P/B = 18.0752
Revenue TTM = 223.8m EUR
EBIT TTM = 182.6m EUR
EBITDA TTM = 188.0m EUR
Long Term Debt = unknown (0.0)
Short Term Debt = 3.75m EUR (from shortTermDebt, last quarter)
Debt = 3.06m EUR (from shortLongTermDebtTotal, last quarter) (leases 3.06m already included)
Net Debt = -96.4m EUR (calculated: Debt 3.06m - CCE 99.4m)
Enterprise Value = 1.39b EUR (1.49b + Debt 3.06m - CCE 99.4m)
Interest Coverage Ratio = 323.8 (Ebit TTM 182.6m / Interest Expense TTM 564k)
EV/FCF = 8.51x (Enterprise Value 1.39b / FCF TTM 163.7m)
FCF Yield = 11.76% (FCF TTM 163.7m / Enterprise Value 1.39b)
FCF Margin = 73.16% (FCF TTM 163.7m / Revenue TTM 223.8m)
Net Margin = 76.85% (Net Income TTM 172.0m / Revenue TTM 223.8m)
Gross Margin = unknown ((Revenue TTM 223.8m - Cost of Revenue TTM 6.13m) / Revenue TTM)
Tobins Q-Ratio = 8.87 (Enterprise Value 1.39b / Total Assets 156.9m)
Interest Expense / Debt = 18.45% (Interest Expense 564k / Debt 3.06m)
Taxrate = 5.54% (10.1m / 182.0m)
NOPAT = 172.5m (EBIT 182.6m * (1 - 5.54%))
Current Ratio = 5.30 (Total Current Assets 138.2m / Total Current Liabilities 26.1m)
Debt / Equity = 0.02 (Debt 3.06m / totalStockholderEquity, last quarter 129.2m)
Debt / EBITDA = -0.51 (Net Debt -96.4m / EBITDA 188.0m)
Debt / FCF = -0.59 (Net Debt -96.4m / FCF TTM 163.7m)
Total Stockholder Equity = 148.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 134.1% (Net Income 172.0m / Total Assets 156.9m)
RoE = 115.9% (Net Income TTM 172.0m / Total Stockholder Equity 148.4m)
RoCE = 123.1% (EBIT 182.6m / Capital Employed (Equity 148.4m + L.T.Debt 0.0))
RoIC = 139.8% (NOPAT 172.5m / Invested Capital 123.4m)
WACC = 7.79% (E(1.49b)/V(1.49b) * Re(7.77%) + D(3.06m)/V(1.49b) * Rd(18.45%) * (1-Tc(0.06)))
Discount Rate = 7.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 33.60 | Cagr: 0.04%
[DCF] Terminal Value 73.10% ; FCFF base≈359.7m ; Y1≈315.4m ; Y5≈254.8m
[DCF] Fair Price = 14.48 (EV 4.09b - Net Debt -96.4m = Equity 4.19b / Shares 289.2m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 98.32 | Revenue CAGR: 71.91% | SUE: N/A | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.17 | Chg30d=+0.00% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=0.67 | Chg30d=-1.11% | Revisions=-40% | GrowthEPS=+30.7% | GrowthRev=+25.6%
EPS next Year (2027-12-31): EPS=0.84 | Chg30d=-2.90% | Revisions=-57% | GrowthEPS=+25.5% | GrowthRev=+33.5%
[Analyst] Revisions Ratio: -67% (up=0, down=6)