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GDEV INC (GDEV) Stock Fundamental Analysis

NASDAQ:GDEV - Nasdaq - VGG6529J2092 - Common Stock - Currency: USD

11.93  -0.42 (-3.4%)

Fundamental Rating

6

GDEV gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 72 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 scores decently on growth, while it is valued quite cheap. This could make an interesting combination. This makes GDEV very considerable for value investing!


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year GDEV was profitable.
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.
Each year in the past 5 years GDEV had a positive operating cash flow.
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 9.38%, GDEV belongs to the best of the industry, outperforming 93.06% of the companies in the same industry.
GDEV's Return On Invested Capital of 410.37% is amongst the best of the industry. GDEV outperforms 100.00% of its industry peers.
Industry RankSector Rank
ROA 9.38%
ROE N/A
ROIC 410.37%
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 has a Profit Margin of 6.07%. This is amongst the best in the industry. GDEV outperforms 81.94% of its industry peers.
With a decent Operating Margin value of 9.62%, GDEV is doing good in the industry, outperforming 79.17% of the companies in the same industry.
In the last couple of years the Operating Margin of GDEV has grown nicely.
GDEV has a Gross Margin of 66.26%. This is in the better half of the industry: GDEV outperforms 76.39% of its industry peers.
GDEV's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 9.62%
PM (TTM) 6.07%
GM 66.26%
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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5

2. Health

2.1 Basic Checks

GDEV has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for GDEV has been reduced compared to 1 year ago.
GDEV has a better debt/assets ratio than last year.
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

GDEV has an Altman-Z score of 1.51. This is a bad value and indicates that GDEV is not financially healthy and even has some risk of bankruptcy.
GDEV has a better Altman-Z score (1.51) than 61.11% of its industry peers.
GDEV has a debt to FCF ratio of 0.05. This is a very positive value and a sign of high solvency as it would only need 0.05 years to pay back of all of its debts.
The Debt to FCF ratio of GDEV (0.05) is better than 93.06% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 0.05
Altman-Z 1.51
ROIC/WACC45.95
WACC8.93%
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

A Current Ratio of 0.68 indicates that GDEV may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.68, GDEV is in line with its industry, outperforming 40.28% of the companies in the same industry.
A Quick Ratio of 0.68 indicates that GDEV may have some problems paying its short term obligations.
The Quick ratio of GDEV (0.68) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.68
Quick Ratio 0.68
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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5

3. Growth

3.1 Past

GDEV shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -39.84%.
GDEV shows a decrease in Revenue. In the last year, the revenue decreased by -9.39%.
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%-124.74%
Revenue 1Y (TTM)-9.39%
Revenue growth 3Y-1.02%
Revenue growth 5Y35.02%
Sales Q2Q%-10.63%

3.2 Future

The Earnings Per Share is expected to grow by 12.75% on average over the next years. This is quite good.
Based on estimates for the next years, GDEV will show a quite strong growth in Revenue. The Revenue will grow by 10.12% on average per year.
EPS Next Y32.3%
EPS Next 2Y12.75%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year4.4%
Revenue Next 2Y10.12%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past 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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9

4. Valuation

4.1 Price/Earnings Ratio

GDEV is valuated reasonably with a Price/Earnings ratio of 8.64.
GDEV's Price/Earnings ratio is rather cheap when compared to the industry. GDEV is cheaper than 94.44% of the companies in the same industry.
When comparing the Price/Earnings ratio of GDEV to the average of the S&P500 Index (28.29), we can say GDEV is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 6.53, the valuation of GDEV can be described as very cheap.
Based on the Price/Forward Earnings ratio, GDEV is valued cheaply inside the industry as 98.61% of the companies are valued more expensively.
GDEV's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.08.
Industry RankSector Rank
PE 8.64
Fwd PE 6.53
GDEV Price Earnings VS Forward Price EarningsGDEV Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, GDEV is valued cheaper than 97.22% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, GDEV is valued cheaper than 90.28% of the companies in the same industry.
Industry RankSector Rank
P/FCF 7.7
EV/EBITDA 1.26
GDEV Per share dataGDEV EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10 15 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.
A more expensive valuation may be justified as GDEV's earnings are expected to grow with 12.75% in the coming years.
PEG (NY)0.27
PEG (5Y)N/A
EPS Next 2Y12.75%
EPS Next 3YN/A

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 27.75%, GDEV is a good candidate for dividend investing.
In the last 3 months the price of GDEV has falen by -36.03%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
Compared to an average industry Dividend Yield of 7.77, GDEV pays a better dividend. On top of this GDEV pays more dividend than 98.61% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.52, GDEV pays a better dividend.
Industry RankSector Rank
Dividend Yield 27.75%

5.2 History

GDEV is new to the dividend game and has less than 3 years of track record.
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

DP0%
EPS Next 2Y12.75%
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 INC

NASDAQ:GDEV (4/17/2025, 8:24:19 PM)

11.93

-0.42 (-3.4%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryEntertainment
Earnings (Last)03-31 2025-03-31/amc
Earnings (Next)05-28 2025-05-28
Inst Owners0%
Inst Owner Change0%
Ins Owners39.04%
Ins Owner ChangeN/A
Market Cap216.29M
Analysts80
Price Target58.14 (387.34%)
Short Float %1.29%
Short Ratio1.8
Dividend
Industry RankSector Rank
Dividend Yield 27.75%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-Date03-12 2025-03-12 (3.31)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-59.12%
Min EPS beat(2)-224.78%
Max EPS beat(2)106.54%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
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)1
Avg Revenue beat(2)1.26%
Min Revenue beat(2)-1.95%
Max Revenue beat(2)4.47%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
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)-4.23%
Revenue NY rev (3m)-4.23%
Valuation
Industry RankSector Rank
PE 8.64
Fwd PE 6.53
P/S 0.51
P/FCF 7.7
P/OCF 7.58
P/B N/A
P/tB N/A
EV/EBITDA 1.26
EPS(TTM)1.38
EY11.57%
EPS(NY)1.83
Fwd EY15.3%
FCF(TTM)1.55
FCFY12.99%
OCF(TTM)1.57
OCFY13.19%
SpS23.22
BVpS-5.6
TBVpS-5.95
PEG (NY)0.27
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 9.38%
ROE N/A
ROCE 463.09%
ROIC 410.37%
ROICexc N/A
ROICexgc N/A
OM 9.62%
PM (TTM) 6.07%
GM 66.26%
FCFM 6.67%
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
ROICexcg growth 3YN/A
ROICexcg 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-Score7
Asset Turnover1.55
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF 0.05
Debt/EBITDA 0
Cap/Depr 7.09%
Cap/Sales 0.1%
Interest Coverage 532.86
Cash Conversion 61.11%
Profit Quality 110%
Current Ratio 0.68
Quick Ratio 0.68
Altman-Z 1.51
F-Score7
WACC8.93%
ROIC/WACC45.95
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%-124.74%
EPS Next Y32.3%
EPS Next 2Y12.75%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-9.39%
Revenue growth 3Y-1.02%
Revenue growth 5Y35.02%
Sales Q2Q%-10.63%
Revenue Next Year4.4%
Revenue Next 2Y10.12%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y5.57%
EBIT growth 3Y168.16%
EBIT growth 5YN/A
EBIT Next Year20.23%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y63.31%
FCF growth 3Y-35.38%
FCF growth 5Y13.52%
OCF growth 1Y58.88%
OCF growth 3Y-35.34%
OCF growth 5Y13.72%