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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.

Read more on company page

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 %1.4 %1.7 %
P/E (adj.)45.514.415.0
EV/EBITDA31.59.08.5

Forum discussions

Get your tin foil hats out and let the speculation begin. Remedy’s law firm yesterday registered the trademark CONTROL Resonant. ![image|690x268...
11/28/2025, 1:11 AM
by Trivial
41
Firebreak now has voice chat, but it’s probably too little too late. store.steampowered.com – 19 Nov 25 FBC: Firebreak - Patch Notes v1.7.1 ...
11/19/2025, 1:10 PM
by Akee
15
TakeTwo also has other similar development projects in its pipeline, such as Ken Levine’s “Bioshock in space” - JUDAS, which was supposed to...
11/12/2025, 1:28 PM
by Trivial
13
Isa and Atte chatted in English about Remedy regarding Q3. Inderes Remedy Q3’25: Upcoming games in focus - Inderes Time: 12.11.2025 klo 12.29...
11/12/2025, 12:54 PM
by Sijoittaja-alokas
7
Yes, there would definitely be a spot for Max Payne, and even if there aren’t huge profits available, there’s even more fame for Remedy. My ...
11/7/2025, 4:34 AM
by Arvuuttaja
10
Let’s put this in the Remedy thread too. GTA VI is delayed to late 2026. Rockstar Games Grand Theft Auto VI is Now Set to Launch November 19...
11/6/2025, 9:28 PM
by Akee
13
Alan Wake 2’s platinum trophy had been achieved by 9.1% of players at the beginning of October, before the game came to the PS+ service. Trophies...
11/4/2025, 8:04 AM
by Henkka
20
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