GDEV INC (GDEV) Fundamental Analysis & Valuation

NASDAQ:GDEV • VGG6529J2092

14.06 USD
-1.09 (-7.19%)
Last: Mar 9, 2026, 08:07 PM
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This GDEV fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to GDEV. GDEV was compared to 80 industry peers in the Entertainment industry. Both the profitability and the financial health of GDEV get a neutral evaluation. Nothing too spectacular is happening here. GDEV is valued quite cheap, while showing a decent growth score. This is a good combination!


Dividend Valuation Growth Profitability Health

6

1. GDEV Profitability Analysis

1.1 Basic Checks

  • GDEV had positive earnings in the past year.
  • In the past year GDEV had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: GDEV reported negative net income in multiple years.
  • In the past 5 years GDEV always reported a positive cash flow from operatings.
GDEV Yearly Net Income VS EBIT VS OCF VS FCFGDEV Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 2023 2024 0 50M -50M 100M -100M

1.2 Ratios

  • With an excellent Return On Assets value of 20.53%, GDEV belongs to the best of the industry, outperforming 96.25% of the companies in the same industry.
Industry RankSector Rank
ROA 20.53%
ROE N/A
ROIC N/A
ROA(3y)8.68%
ROA(5y)-2.38%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
GDEV Yearly ROA, ROE, ROICGDEV Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 2023 2024 0 200 -200 400 -400 -600

1.3 Margins

  • GDEV's Profit Margin of 10.15% is amongst the best of the industry. GDEV outperforms 81.25% of its industry peers.
  • GDEV's Operating Margin of 14.10% is amongst the best of the industry. GDEV outperforms 85.00% of its industry peers.
  • GDEV's Operating Margin has improved in the last couple of years.
  • GDEV has a Gross Margin of 66.14%. This is in the better half of the industry: GDEV outperforms 73.75% of its industry peers.
  • In the last couple of years the Gross Margin of GDEV has grown nicely.
Industry RankSector Rank
OM 14.1%
PM (TTM) 10.15%
GM 66.14%
OM growth 3Y170.93%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.16%
GM growth 5Y4.74%
GDEV Yearly Profit, Operating, Gross MarginsGDEV Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 2024 0 20 -20 40 60

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4

2. GDEV Health Analysis

2.1 Basic Checks

  • GDEV does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • GDEV has less shares outstanding than it did 1 year ago.
  • Compared to 1 year ago, GDEV has an improved debt to assets ratio.
GDEV Yearly Shares OutstandingGDEV Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 50M 100M 150M
GDEV Yearly Total Debt VS Total AssetsGDEV Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

  • An Altman-Z score of 1.92 indicates that GDEV is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • GDEV has a better Altman-Z score (1.92) than 67.50% of its industry peers.
  • GDEV has a debt to FCF ratio of 0.18. This is a very positive value and a sign of high solvency as it would only need 0.18 years to pay back of all of its debts.
  • GDEV has a better Debt to FCF ratio (0.18) than 92.50% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 0.18
Altman-Z 1.92
ROIC/WACCN/A
WACC8.75%
GDEV Yearly LT Debt VS Equity VS FCFGDEV Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 2023 2024 0 50M -50M 100M -100M -150M

2.3 Liquidity

  • GDEV has a Current Ratio of 0.51. This is a bad value and indicates that GDEV is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of GDEV (0.51) is worse than 81.25% of its industry peers.
  • A Quick Ratio of 0.51 indicates that GDEV may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.51, GDEV is not doing good in the industry: 80.00% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.51
Quick Ratio 0.51
GDEV Yearly Current Assets VS Current LiabilitesGDEV Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 100M 200M 300M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. GDEV Growth Analysis

3.1 Past

  • GDEV shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -39.84%.
  • Looking at the last year, GDEV shows a decrease in Revenue. The Revenue has decreased by -9.39% in the last year.
  • Measured over the past years, GDEV shows a very strong growth in Revenue. The Revenue has been growing by 35.02% on average per year.
EPS 1Y (TTM)-39.84%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%67.09%
Revenue 1Y (TTM)-9.39%
Revenue growth 3Y-1.02%
Revenue growth 5Y35.02%
Sales Q2Q%-11.83%

3.2 Future

  • GDEV is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 50.88% yearly.
  • GDEV is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.96% yearly.
EPS Next Y179.76%
EPS Next 2Y50.88%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-0.89%
Revenue Next 2Y1.96%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
GDEV Yearly Revenue VS EstimatesGDEV Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M 800M
GDEV Yearly EPS VS EstimatesGDEV Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 1 2 3 4

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10

4. GDEV Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 5.06, the valuation of GDEV can be described as very cheap.
  • Based on the Price/Earnings ratio, GDEV is valued cheaply inside the industry as 95.00% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 26.46. GDEV is valued rather cheaply when compared to this.
  • A Price/Forward Earnings ratio of 4.48 indicates a rather cheap valuation of GDEV.
  • Based on the Price/Forward Earnings ratio, GDEV is valued cheaply inside the industry as 98.75% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.65, GDEV is valued rather cheaply.
Industry RankSector Rank
PE 5.06
Fwd PE 4.48
GDEV Price Earnings VS Forward Price EarningsGDEV Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, GDEV is valued cheaper than 95.00% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, GDEV is valued cheaply inside the industry as 82.50% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 20.26
EV/EBITDA 2.51
GDEV Per share dataGDEV EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of GDEV may justify a higher PE ratio.
  • GDEV's earnings are expected to grow with 50.88% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.03
PEG (5Y)N/A
EPS Next 2Y50.88%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. GDEV Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 21.85%, GDEV is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 7.42, GDEV pays a better dividend. On top of this GDEV pays more dividend than 98.75% of the companies listed in the same industry.
  • GDEV's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 21.85%

5.2 History

  • GDEV does not have a reliable dividend history as it only pays dividend since a couple or years.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
GDEV Yearly Dividends per shareGDEV Yearly Dividends per shareYearly Dividends per share 2025 1 2 3

5.3 Sustainability

DPN/A
EPS Next 2Y50.88%
EPS Next 3YN/A
GDEV Yearly Income VS Free CF VS DividendGDEV Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2019 2020 2021 2022 2023 2024 0 50M -50M 100M -100M

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GDEV Fundamentals: All Metrics, Ratios and Statistics

GDEV INC

NASDAQ:GDEV (3/9/2026, 8:07:55 PM)

14.06

-1.09 (-7.19%)

Chartmill FA Rating
GICS IndustryGroupMedia & Entertainment
GICS IndustryEntertainment
Earnings (Last)11-24
Earnings (Next)03-30
Inst Owners2.62%
Inst Owner Change0%
Ins Owners37.06%
Ins Owner ChangeN/A
Market Cap254.91M
Revenue(TTM)420.93M
Net Income(TTM)43.15M
Analysts80
Price Target71.4 (407.82%)
Short Float %0.16%
Short Ratio0.98
Dividend
Industry RankSector Rank
Dividend Yield 21.85%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)288.7%
Min EPS beat(2)246.02%
Max EPS beat(2)331.37%
EPS beat(4)3
Avg EPS beat(4)114.79%
Min EPS beat(4)-224.78%
Max EPS beat(4)331.37%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)18.33%
Min Revenue beat(2)5.08%
Max Revenue beat(2)31.57%
Revenue beat(4)3
Avg Revenue beat(4)9.79%
Min Revenue beat(4)-1.95%
Max Revenue beat(4)31.57%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 5.06
Fwd PE 4.48
P/S 0.6
P/FCF 20.26
P/OCF 19.51
P/B N/A
P/tB N/A
EV/EBITDA 2.51
EPS(TTM)2.78
EY19.77%
EPS(NY)3.14
Fwd EY22.34%
FCF(TTM)0.69
FCFY4.93%
OCF(TTM)0.72
OCFY5.13%
SpS23.45
BVpS-7.14
TBVpS-7.37
PEG (NY)0.03
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 20.53%
ROE N/A
ROCE -150.54%
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM 14.1%
PM (TTM) 10.15%
GM 66.14%
FCFM 2.96%
ROA(3y)8.68%
ROA(5y)-2.38%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)-37.23%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y170.93%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.16%
GM growth 5Y4.74%
F-Score5
Asset Turnover2.02
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 0.18
Debt/EBITDA 0.01
Cap/Depr 7.46%
Cap/Sales 0.11%
Interest Coverage 749.11
Cash Conversion 19.66%
Profit Quality 29.15%
Current Ratio 0.51
Quick Ratio 0.51
Altman-Z 1.92
F-Score5
WACC8.75%
ROIC/WACCN/A
Cap/Depr(3y)11.69%
Cap/Depr(5y)21.55%
Cap/Sales(3y)0.17%
Cap/Sales(5y)0.17%
Profit Quality(3y)574.21%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-39.84%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%67.09%
EPS Next Y179.76%
EPS Next 2Y50.88%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-9.39%
Revenue growth 3Y-1.02%
Revenue growth 5Y35.02%
Sales Q2Q%-11.83%
Revenue Next Year-0.89%
Revenue Next 2Y1.96%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y19.52%
EBIT growth 3Y168.16%
EBIT growth 5YN/A
EBIT Next Year161.79%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-83.36%
FCF growth 3Y-35.38%
FCF growth 5Y13.52%
OCF growth 1Y-82.92%
OCF growth 3Y-35.34%
OCF growth 5Y13.72%

GDEV INC / GDEV FAQ

What is the ChartMill fundamental rating of GDEV INC (GDEV) stock?

ChartMill assigns a fundamental rating of 5 / 10 to GDEV.


What is the valuation status of GDEV INC (GDEV) stock?

ChartMill assigns a valuation rating of 10 / 10 to GDEV INC (GDEV). This can be considered as Undervalued.


What is the profitability of GDEV stock?

GDEV INC (GDEV) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for GDEV stock?

The Price/Earnings (PE) ratio for GDEV INC (GDEV) is 5.06 and the Price/Book (PB) ratio is -1.97.


What is the earnings growth outlook for GDEV INC?

The Earnings per Share (EPS) of GDEV INC (GDEV) is expected to grow by 179.76% in the next year.