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Research

Remedy: We keep our eye on the long game

By Atte RiikolaAnalyst
Remedy Entertainment
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We reiterate our Accumulate recommendation for Remedy and raise our target price to EUR 50.0 (previously EUR 38.0) after the H2 report again strengthened our confidence in the company's long-term value creation potential. Thanks to a multi-project model that has been built with controlled risks and is well-managed, Remedy’s preconditions for developing successful games are good. In addition, favorable market trends help the company grow into a clearly larger game house than currently over this decade. Due to a growth story that progresses strongly we still play the long game with the share, even though the valuation looks tight in the short term.

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Remedy Entertainment is a game developer. Its operations are primarily focused on the development of action games, with a particular focus on 3D technology. Examples of games that the company has developed include several different versions of Alan Wake, Max Payne, and Control. Remedy also develops its own game engine and tooling technology that powers many of its games. The company was founded in 1995 and is headquartered in Espoo, Finland.

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Key Estimate Figures14.02.2021

202021e22e
Revenue41.145.948.8
growth-%29.8 %11.7 %6.3 %
EBIT (adj.)13.215.514.8
EBIT-% (adj.)32.2 %33.8 %30.3 %
EPS (adj.)0.861.020.97
Dividend0.150.200.25
Dividend %0.4 %1.6 %2.0 %
P/E (adj.)45.512.513.1
EV/EBITDA31.57.67.2

Forum discussions

Is there some industry assumption that you can’t make announcements on your own YouTube channel, but they must always be tied to some event?...
2 hours ago
by Spwni
2
Good find. Remedy’s own YouTube channel has 150k subscribers vs. Galaxies’ 3.5k. And then they go and dilute the attention, when their own event...
5 hours ago
6
The Galaxies show doesn’t quite hit the mark for this But it’s quite funny that today was rumored for the release date trailer, but at a Sony...
6 hours ago
by Hasty
4
The Galaxies Spring showcase is today at 22:00. Remedy mentioned among the partners. Home Galaxies Gaming Showcase Galaxies is a live-streamed...
7 hours ago
by Miika21
10
I don’t know about that, but at least an estimated 700,000 Steam players have been interested enough in Resonant, based on what’s been seen ...
yesterday
26
When I watched a gameplay clip of Control Resonant, the combat system somehow seemed a bit bland, like “basic button-mashing,” and it didn’t...
4/13/2026, 4:31 PM
by Zesvel
0
I’m pretty sure that Puha doesn’t mean that the game wouldn’t be available for pre-loading. I don’t even consider buying after reviews a preorder...
4/10/2026, 8:06 PM
by Relaaja
3
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