Company Valuation: Qiiwi Games AB

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 724.7 197.5 80.66 36.35 45.51 19.98
Change - -72.75% -59.16% -54.93% 25.19% -56.1%
Enterprise Value (EV) 1 709.4 138 35.66 11.18 27.59 6.773
Change - -80.55% -74.15% -68.65% 146.75% -75.45%
P/E 251x -18.1x -5.19x -1.3x -6.47x -2.51x
PBR 44x 2.76x 1.37x 1.18x 1.9x 1.26x
PEG - 0x -0.1x -0x 0.1x -0.2x
Capitalization / Revenue 6.76x 3.13x 2.35x 1.19x 2.06x 1.31x
EV / Revenue 6.62x 2.19x 1.04x 0.36x 1.25x 0.44x
EV / EBITDA 226x -11.9x -2.25x -0.48x -3.24x -0.84x
EV / EBIT 334x -10.4x -2.03x -0.39x -3.22x -0.84x
EV / FCF 61.4x -8.86x -2.69x -1.13x -4.7x -3.91x
FCF Yield 1.63% -11.3% -37.2% -88.3% -21.3% -25.6%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.351 -1.18 -1.68 -3.03 -0.76 -0.86
Distribution rate - - - - - -
Net sales 1 107.2 63 34.38 30.65 22.12 15.27
EBITDA 1 3.142 -11.6 -15.84 -23.5 -8.525 -8.085
EBIT 1 2.123 -13.22 -17.55 -29.03 -8.578 -8.103
Net income 1 3.241 -10.52 -15.52 -28.04 -7.028 -7.923
Net Debt 1 -15.22 -59.52 -44.99 -25.17 -17.92 -13.21
Reference price 2 88.000 21.350 8.720 3.930 4.920 2.160
Nbr of stocks (in thousands) 8,235 9,249 9,249 9,249 9,249 9,249
Announcement Date 4/6/21 4/6/22 4/6/23 4/10/24 3/27/25 3/23/26
1SEK in Million2SEK
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 5.89M
23.99x3.6x17.95x2.44% 64.81B
15.18x7.61x12.54x5.94% 6.29B
20.65x1.97x11.01x1.53% 3.86B
19.15x3.47x12.09x1.1% 2.38B
17.7x0.89x7.46x2.08% 2.01B
28.6x - - - 341M
Average 20.88x 3.51x 12.21x 2.62% 11.38B
Weighted average by Cap. 22.85x 3.77x 16.74x 2.63%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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