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Betsson AB (BETS.B) AI Stock Analysis
Betsson AB
(Nasdaq OMX AB:BETS.B)
Betsson earns an above-average score driven by a compelling valuation — a 10.7x P/E paired with a 7.2% dividend yield — supported by a conservative balance sheet with minimal leverage, a net cash position and a 61% equity ratio. Technicals reinforce the case, with the price trading above all major moving averages and momentum indicators in constructive territory. The principal risk is profitability: operating and net margins have compressed sharply, return on equity has roughly halved, free cash flow has declined for two consecutive years, and the latest quarter showed a 31% year-over-year EBIT decline alongside a weak Sportsbook margin, a 39% drop in B2B revenue and softness in the Nordic and CEECA regions. Record customer activity and 52% Latin America growth demonstrate the top line is still expanding, but investors should monitor whether margin pressure from higher gaming taxes and regulated-market mix proves temporary or structural.
Betsson AB (BETS.B) vs. iShares MSCI Sweden ETF (EWD)
- Market Cap
- SEK 11.59B
- Dividend Yield
- 7.44%
- Average Volume (3M)
- 376.48K
- Price to Earnings (P/E)
- 10.6
- Beta (1Y)
- 0.17
- Revenue Growth
- -0.47%
- EPS Growth
- -43.52%
- Country
- Sweden
- Employees
- 2,925
- Sector
- General
- Sector Strength
- 55
- Industry
- Gambling, Resorts & Casinos
Betsson AB Business Overview & Revenue Model
Company Description
Betsson AB is an online gaming enterprise that, through its various subsidiaries, maintains a substantial presence across several key geographical regions. Its operations primarily span the Nordic countries, Western Europe, Central and Eastern Europe...
How the Company Makes Money
Betsson makes money primarily by operating online gambling services and capturing the economic margin embedded in those products. Its core revenue streams are: (1) Casino gaming: revenue is generated from customers wagering on casino games (e.g., slo...
Betsson AB Earnings Call Summary
The call was overall positive, supported by record group and casino revenue, a 40% increase in active customers, strong 52% Latin America growth, a positive contribution from the Rhino acquisition, sequential EBIT improvement, and a strong start to the fourth quarter. However, profitability was pressured by a lower Sportsbook margin, a decline in gross margin and EBIT year-over-year, higher gaming taxes and operating costs, declining B2B revenue, and weakness in the Nordic and CEECA regions.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
The company said average daily revenue in the fourth quarter so far, including the 18th of October, was 11% higher than the average daily revenue of the whole fourth quarter of the last year, while the Sportsbook margin was significantly lower than the average for the last eight quarters; it expects continued high activity and high customer levels even going forward, said the B2B business has stabilized and expects it to grow further through existing customers and new B2B clients, although “Whether that will continue depends to see in the future” regarding the negative shift in gross margin, and said its belief is that the Brazil market will not be closed forever as it is as of now and will open up in one way or the other.
Betsson AB Financial Statement Overview
Summary
A conservatively financed balance sheet is the clear strength: equity funds roughly 62% of assets, debt-to-equity sits at just 0.23, and leverage has stayed flat even as the business nearly doubled since 2021. Revenue has grown about 85% over that span, and free cash flow has been positive every year. The offset is clear deterioration at the margin — revenue growth has slowed to 2.8% on a trailing-twelve-month basis, operating margin has compressed from 23.2% to 14.2%, net margin from 16.4% to 9.2%, return on equity has roughly halved to 12.8%, and free cash flow has declined two years running. Financially sound and low-risk on leverage, but the earnings and cash-conversion trajectory is weakening.
Income Statement
66PositiveBalance Sheet
78PositiveCash Flow
70Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.23B | 1.20B | 1.11B | 948.20M | 777.20M | 657.70M |
| Gross Profit | 623.82M | 435.41M | 719.75M | 756.33M | 504.36M | 450.44M |
| EBITDA | 228.47M | 318.37M | 316.15M | 259.79M | 173.08M | 152.49M |
| Net Income | 113.17M | 177.40M | 181.30M | 177.30M | 119.60M | 106.40M |
Balance Sheet | ||||||
| Total Assets | 1.41B | 1.33B | 1.37B | 1.20B | 1.02B | 897.20M |
| Cash, Cash Equivalents and Short-Term Investments | 284.70M | 321.58M | 308.50M | 237.10M | 168.30M | 95.60M |
| Total Debt | 201.70M | 192.75M | 186.20M | 184.20M | 115.00M | 117.10M |
| Total Liabilities | 548.40M | 432.99M | 509.50M | 440.94M | 370.90M | 328.40M |
| Stockholders Equity | 872.10M | 905.60M | 869.10M | 770.00M | 654.20M | 571.80M |
Cash Flow | ||||||
| Free Cash Flow | 124.29M | 151.00M | 222.90M | 189.00M | 143.20M | 111.50M |
| Operating Cash Flow | 196.71M | 215.60M | 272.90M | 230.40M | 178.70M | 143.60M |
| Investing Cash Flow | -130.62M | -52.10M | -93.30M | -159.00M | -51.20M | -71.60M |
| Financing Cash Flow | -169.57M | -138.10M | -107.00M | 300.00K | -54.70M | -62.20M |
Betsson AB Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BETS.B, the sentiment is Positive. The current price of 98.15 is above the 20-day moving average (MA) of 94.51, above the 50-day MA of 94.87, and above the 200-day MA of 92.34, indicating a bullish trend. The MACD of 0.53 indicates Negative momentum. The RSI at 54.11 is Neutral, neither overbought nor oversold. The STOCH value of 50.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BETS.B.
Betsson AB Peers Comparison
Overall Rating
- SE:BETS.B75Outperform
SE:BETCO68.1Neutral
SE:ACROUD42Neutral
SE:FRACTL39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| SE:BETS.B | 75Outperform | SEK 13.00B | 10.56 | 12.81% | 7.44% | -0.47% | -43.52% |
| SE:BETCO | 68Neutral | SEK 3.70B | 11.68 | ― | ― | -1.57% | 22.64% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| SE:ACROUD | 42Neutral | SEK 111.93M | -3.79 | -15.07% | ― | 17.97% | 93.95% |
| SE:FRACTL | 39Underperform | SEK 401.39M | -17.32 | ― | ― | -27.64% | -147.01% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| SE:BETS.B | Betsson AB Class B | 96.45 | -39.67 | -29.14% | |
| SE:ACROUD | Acroud AB | 0.09 | -0.06 | -41.61% | |
| SE:GIG | GiG Software PLC Shs Swedish Depository Receipt Repr 1 Sh | 3.30 | -2.40 | -42.11% | |
| SE:BETCO | Better Collective A/S | 63.00 | -51.80 | -45.12% | |
| SE:FRACTL | Fractal Gaming Group AB | 13.76 | -18.69 | -57.60% | |
| SE:WSG | WS WeSports Group AB | 73.58 | 1.14 | 1.57% |
Betsson AB Corporate Events
Betsson Delivers Record Q3 Revenue but Sees Profitability Squeezed
Betsson AB reported record quarterly revenue of EUR 326.5 million for the third quarter of 2026, driven mainly by strong casino performance and a 40 percent surge in active B2C customers. Despite higher customer activity and deposits, profitability w...
Betsson to Present Third-Quarter 2026 Results on 22 October
Betsson AB will release its report for the third quarter of 2026 on 22 October at 07:30 a.m. CEST, followed by a presentation at 09:00 a.m. aimed at analysts, investors and media. The event, led by CEO Pontus Lindwall and CFO Martin Öhman, will...
Betsson Completes Acquisition of Rhino Entertainment’s Canadian Business and Tech Assets
Betsson AB has completed the acquisition of Rhino Entertainment Group’s B2C operations in Canada, including entities holding assets, licences, staff and operational capabilities for Ontario and the wider Canadian market. The deal also brings Rh...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 27, 2026