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Starbreeze: Lower valuation improves risk-reward ratio ahead of PAYDAY 3 release
By Inderes
With the release date of PAYDAY 3 nearing, our confidence in the game’s success remains. We are particularly encouraged by the positive feedback the game has received and the positive indicators related to the game released by Starbreeze. The biggest question mark surrounding Starbreeze is the medium to long-term future of the company and what level of confidence to assign to any projections regarding the games after PAYDAY 3. However, with the recent decline in share price, we believe the risk-reward ratio has returned to being modestly positive.
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Starbreeze operates in the gaming industry and focuses on the development, publishing and distribution of computer games and interactive entertainment. The company's portfolio includes both its own games and collaborations with other game developers. The business is aimed at gamers and distributors globally, with the largest operations in Europe. Starbreeze was founded in 1998 and is headquartered in Stockholm, Sweden.
Read more on company pageKey Estimate Figures12.09.2023
| 2022 | 23e | 24e | |
|---|---|---|---|
| Revenue | 127.6 | 679.0 | 373.4 |
| growth-% | 1.5 % | 432.1 % | -45.0 % |
| EBIT (adj.) | 6.7 | 433.9 | 79.5 |
| EBIT-% (adj.) | 5.3 % | 63.9 % | 21.3 % |
| EPS (adj.) | -0.08 | 0.30 | 0.05 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | neg. | 0.3 | 1.8 |
| EV/EBITDA | 18.1 | neg. | neg. |
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