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Modern Times Group AB
(MTG.B)
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Rating:61Neutral
Price Target:
kr125.00
▲(13.12% Upside)
Action:Reiterated
Date:10/23/26
The score is primarily supported by strong cash generation and meaningful revenue growth, which help offset inconsistent net income and near-zero ROE. The overall rating is held back by weak technical momentum (price below key short/medium-term averages with negative MACD) and a demanding valuation (high P/E with no stated dividend yield).
Positive Factors
Revenue Growth
Strong recent revenue expansion indicates that MTG’s studio portfolio is gaining scale and market traction. Continued growth in game publishing and live operations can broaden the revenue base, support investment in new content, and improve operating leverage over the next several quarters.
Negative Factors
Profit Volatility
Repeated swings in bottom-line earnings reduce confidence in the durability of MTG’s current revenue growth and cash generation. Near-breakeven TTM net margin leaves limited protection if game performance weakens, and it may constrain reinvestment or shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Strong recent revenue expansion indicates that MTG’s studio portfolio is gaining scale and market traction. Continued growth in game publishing and live operations can broaden the revenue base, support investment in new content, and improve operating leverage over the next several quarters.
Read all positive factors
Modern Times Group AB (MTG.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr14.11B
Dividend Yield8.87%
Average Volume (3M)333.64K
Price to Earnings (P/E)83.8
Beta (1Y)0.09
Revenue Growth42.27%
EPS GrowthN/A
CountrySE
Employees2,324
SectorGeneral
Sector StrengthN/A
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)1.42
Shares Outstanding119,113,790
10 Day Avg. Volume218,466
30 Day Avg. Volume333,639
Financial Highlights & Ratios
PEG Ratio3.11
Price to Book (P/B)1.27
Price to Sales (P/S)1.16
P/FCF Ratio8.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)15.27
Revenue Forecast (FY)kr12.47B
Modern Times Group AB Business Overview & Revenue Model
Company Description
Modern Times Group MTG AB (publ) operates as a global digital entertainment powerhouse, with its operations spanning the United States, United Kingdom, Germany, wider Europe, Singapore, India, and New Zealand, among other international markets. Th...
How the Company Makes Money
MTG makes money primarily through revenues generated by its consolidated game development and publishing operations. Key revenue streams generally include (1) sales of video games (digital and, where applicable, physical) on PC and console platfor...
Modern Times Group AB Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
70
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.23B | 11.58B | 6.01B | 5.83B | 5.54B | 5.31B |
| Gross Profit | 7.44B | 7.64B | 4.46B | 4.25B | 4.01B | 2.58B |
| EBITDA | 2.58B | 2.10B | 760.00M | 1.47B | 1.42B | 594.00M |
| Net Income | 171.00M | -62.00M | -210.00M | 164.00M | 252.00M | -455.00M |
Balance Sheet | ||||||
| Total Assets | 19.18B | 19.29B | 18.07B | 17.50B | 18.77B | 17.44B |
| Cash, Cash Equivalents and Short-Term Investments | 1.32B | 1.23B | 3.54B | 2.96B | 4.73B | 943.00M |
| Total Debt | 4.73B | 3.74B | 753.00M | 708.00M | 771.00M | 2.77B |
| Total Liabilities | 7.85B | 8.67B | 4.33B | 3.79B | 4.83B | 7.51B |
| Stockholders Equity | 11.33B | 10.62B | 13.74B | 13.71B | 13.93B | 8.00B |
Cash Flow | ||||||
| Free Cash Flow | 2.02B | 1.50B | 1.24B | 1.05B | 634.00M | 54.00M |
| Operating Cash Flow | 2.30B | 1.72B | 1.34B | 1.26B | 868.00M | 306.00M |
| Investing Cash Flow | -1.59B | -7.50B | -551.00M | -2.35B | -636.00M | -3.37B |
| Financing Cash Flow | -549.00M | 3.83B | -388.00M | -536.00M | -4.97B | 2.81B |
Modern Times Group AB Technical Analysis
Negative
110.50
Price Trends
127.63
Negative
126.29
Negative
115.65
Positive
Market Momentum
-2.83
Negative
44.02
Neutral
71.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MTG.B, the sentiment is Negative. The current price of 110.5 is below the 20-day moving average (MA) of 122.13, below the 50-day MA of 127.63, and below the 200-day MA of 115.65, indicating a neutral trend. The MACD of -2.83 indicates Negative momentum. The RSI at 44.02 is Neutral, neither overbought nor oversold. The STOCH value of 71.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:MTG.B.
Modern Times Group AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | kr14.49B | 114.33 | 5.06% | 3.64% | 7.73% | -81.02% | |
64 Neutral | kr482.95M | 20.90 | 5.13% | 3.08% | -19.67% | -68.42% | |
61 Neutral | kr14.11B | 83.80 | 1.54% | 8.87% | 42.27% | ― | |
58 Neutral | kr1.24B | -0.67 | ― | 18.89% | -11.07% | -734.06% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | kr3.00B | -1.50 | ― | ― | -11.82% | 73.35% | |
47 Neutral | kr160.78M | -0.34 | -221.09% | ― | -27.96% | -152.47% |
* General Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.