Evolution AB (publ) (EVGGF) Stock Analysis
Educational signal · not a buy or sell recommendation · How to read this
P/E 11.14 means the share price is 11.14 times one year of earnings per share; the S&P 500 usually sits near 20-25. Market cap $17.3B is the value of all shares combined. Beta 0.70: the stock has moved about 30% less than the S&P 500.
For informational purposes only. Not financial advice. Machine-generated analysis by Stock Expert AI — model gpt-4o-mini, generated Jun 15, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief. Data sources: Financial Modeling Prep, Yahoo Finance, SEC EDGAR
Quick AnswerEvolution AB (publ) (EVGGF) trades at $91.03. Evolution AB (publ) is a leading provider of live casino and slots solutions, primarily serving gaming operators in Europe and the United States. Market cap: $17.3B, Sector: Consumer cyclical.
Price as of Sep 11, 2026 · Last analyzed: Jun 15, 2026Analyst Coverage for EVGGF: EVGGF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates EVGGF against Consumer Cyclical peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
These figures come from statements filed 12 months ago — the most recent this company has published.
EVGGF: 2/2 scored disciplines lean bullish. Dominant signal: Ken Griffin bearish.
How is this calculated? →AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Evolution AB (publ) (EVGGF) Consumer Business Overview
Evolution AB (publ) stands out in the online gambling industry by offering innovative live casino solutions and a robust portfolio of games, catering to a growing market of digital gaming operators across Europe and the United States.
What Is the Investment Thesis for EVGGF?
With a market capitalization of $17.3B and a profit margin of 50.2%, the company demonstrates robust profitability. The ongoing global shift towards online gambling is a significant growth catalyst, particularly in emerging markets where digital adoption is accelerating. Evolution's unique offering of live casino games positions it well to capitalize on this trend, as evidenced by its high gross margin of 100%. Additionally, the company's relatively low beta of 0.70 indicates lower volatility compared to the broader market, which could appeal to risk-averse investors. However, potential regulatory changes in key markets could pose risks to its operations, necessitating close monitoring of the legislative landscape. Overall, Evolution's strong fundamentals, coupled with favorable market trends, suggest a positive outlook for sustained growth.
Based on FMP financials and quantitative analysis
EVGGF Key Highlights
Market capitalization of $17.3B reflects strong investor confidence and market position.
- Profit margin of 50.2% indicates exceptional operational efficiency and profitability.
- Gross margin of 100.0% showcases the company's ability to maintain high pricing power in its offerings.
- P/E ratio of 11.14 suggests the stock may be undervalued relative to its earnings potential.
- Beta of 0.70 indicates lower volatility compared to the broader market, appealing to conservative investors.
Who Are EVGGF's Competitors?
EVGGF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | MoonshotScore |
|---|---|---|---|---|
| CTTAF Continental AG | $82.00 | +3.10% | $16.4B | — |
| SKHSY Sekisui House, Ltd. | $22.03 | +1.94% | $14.3B | — |
| ACCYY Accor S.A. | $10.73 | +0.47% | $12.7B | — |
| SVTMF SM Investments Corporation | $9.00 | 0.00% | $10.9B | — |
| PTAIF PT Astra International Tbk | $0.27 | 0.00% | $10.8B | — |
| FLUT Flutter Entertainment plc | $98.68 | -0.65% | $17.1B | 435-pillar |
| DKNG DraftKings Inc. | $23.88 | +0.71% | $11.9B | 305-pillar |
| LVS Las Vegas Sands Corp. | $42.82 | +0.52% | $27.7B | 765-pillar |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are EVGGF's Key Strengths?
Leading position in the live casino market.
- High profit margins indicating operational efficiency.
- Strong technological capabilities enhancing user experience.
- Diverse game portfolio catering to various player preferences.
What Are EVGGF's Weaknesses?
Dependence on regulatory environments that can impact operations.
- Limited geographic diversification compared to some competitors.
- No dividend yield may deter income-focused investors.
- High competition in the online gaming sector.
What Could Drive EVGGF Stock Higher?
Continuous product innovation and diversification to enhance user engagement.
- Strengthening partnerships with gaming operators to increase market share.
- Launch of new game formats to attract a broader audience.
- Monitoring and adapting to regulatory changes in key markets.
What Are the Key Risks for EVGGF?
Inconsistent delivery — missed Wall Street EPS estimates in 3 of the last 8 reported quarters.
- Regulatory changes that could impact operational capabilities and market access.
- Intense competition from both established players and new entrants in the online gaming sector.
- Economic downturns affecting consumer discretionary spending on gambling.
- Cybersecurity threats that could compromise user data and trust.
What Are the Growth Opportunities for EVGGF?
- Evolution AB (publ) is strategically positioned to capture this growth through partnerships with local gaming operators, leveraging its expertise in live casino solutions to appeal to a new customer base.
- Emerging Markets: As internet access expands in emerging markets, the demand for online gaming solutions is expected to rise. Evolution's ability to adapt its offerings to local preferences and regulatory environments can facilitate entry into these markets, driving revenue growth and increasing its global footprint.
- Technological Advancements: The continuous evolution of technology in the gaming sector presents opportunities for Evolution to enhance its product offerings. By investing in artificial intelligence and machine learning, the company can improve user experiences and operational efficiencies, potentially increasing customer retention and acquisition rates.
- Product Diversification: Evolution AB (publ) has the opportunity to diversify its game portfolio by introducing new game formats and themes. This can attract a wider audience and cater to varying customer preferences, further solidifying its market position and driving revenue growth.
- Strategic Partnerships: Collaborating with established gaming operators and platforms can enhance Evolution's distribution channels and market reach. Such partnerships can facilitate quicker entry into new markets and provide access to a larger customer base, ultimately boosting sales and market share.
What Are EVGGF's Competitive Advantages?
- Strong brand reputation and recognition in the live casino segment.
- Proprietary technology that enhances the gaming experience.
- Established relationships with major gaming operators.
- High barriers to entry due to regulatory requirements and capital investment.
What Does EVGGF Do?
Founded in 2006, Evolution AB (publ) has rapidly evolved into a prominent player in the online gambling sector, specializing in live casino and slots solutions. Headquartered in Stockholm, Sweden, the company operates approximately 1000 gaming tables, delivering real-time streamed gaming experiences to users on various devices, including computers, smartphones, and tablets. Evolution's diverse portfolio includes popular games such as Live Roulette, Blackjack, Baccarat, Super Sic Bo, Dragon Tiger, Craps, Live Casino Hold'em, Three Card Poker, and Ultimate Texas Hold'em. The company's commitment to innovation and quality has positioned it as a trusted partner for gaming operators, primarily in Europe and the United States. By leveraging cutting-edge technology and a deep understanding of market dynamics, Evolution has successfully captured a significant share of the live casino segment, driving growth and profitability. The company was previously known as Evolution Gaming Group AB (publ) and has consistently focused on expanding its offerings and enhancing user engagement, solidifying its reputation within the competitive landscape of online gaming.
What Products and Services Does EVGGF Offer?
- Develops and licenses live casino solutions for gaming operators.
- Produces a diverse portfolio of online slots and table games.
- Streams live games in real-time from casino gaming tables.
- Offers a user-friendly interface for players on various devices.
- Maintains approximately 1000 gaming tables for live play.
- Focuses on innovation and technology to enhance gaming experiences.
How Does EVGGF Make Money?
- Generates revenue through licensing fees from gaming operators for its live casino solutions.
- Monetizes its game portfolio by providing online slots and table games to operators.
- Engages in B2B partnerships to expand its market reach and distribution channels.
- Utilizes technology to enhance user engagement and operational efficiency.
What Industry Does EVGGF Operate In?
The online gambling industry is experiencing significant growth, driven by increasing internet penetration and changing consumer preferences towards digital gaming. As more players turn to online platforms for entertainment, the demand for innovative gaming solutions has surged. Evolution AB (publ) is well-positioned within this expanding market, particularly in the live casino segment, which is gaining traction due to its interactive and immersive gaming experiences. Competitors such as Continental AG (CTTAF), Sekisui House, Ltd. (SKHSY), Accor S.A. (ACCYY), SM Investments Corporation (SVTMF), and PT Astra International Tbk (PTAIF) are also vying for market share, but Evolution's focus on live streaming technology and user engagement sets it apart.
Who Are EVGGF's Key Customers?
- Gaming operators in Europe and the United States.
- Online casinos seeking to enhance their gaming offerings.
- Players looking for immersive live gaming experiences.
- B2B partners in the gambling industry.
Research confidence
Enough evidence to be useful, with gaps worth knowing about.
- ● Scoring coverage unknown
- ● Price is current
- ● Latest filing 73 days ago
- ● No analyst coverage
- ● Reported in EUR, converted to USD
MoonshotScore History
Recorded daily since 2026-08-23 · 20 snapshots
| 2026-08-23 | 50 |
| 2026-08-27 | 50 |
| 2026-08-31 | 50 |
| 2026-09-04 | 50 |
| 2026-09-08 | 50 |
| 2026-09-11 | 50 |
What changed?
The score has stayed at 50.
Over the same 19 days the stock moved +8.3%.
Evolution AB (publ) (EVGGF) Valuation Context
Valued at $17.3B, EVGGF is classified as a large-cap stock.
EVGGF Revenue & Earnings Trend
In Q2 FY2026, EVGGF generated $587.3M in top-line revenue, marking a sequential decrease of 30.5%. The company recorded net income of $285.2M, with diluted EPS of $1.45. Revenue has contracted over three consecutive quarters, which investors in this large-cap Consumer Cyclical stock should monitor closely. Across the four most recent quarters, EVGGF averaged $1.54 in diluted EPS.
Company Profile
Evolution AB (publ) operates in the Gambling, Resorts & Casinos industry within the Consumer Cyclical sector. It is headquartered in Stockholm, SE. The company is led by CEO Martin Olof Carlesund. EVGGF has traded publicly since 2020.
Key Financial Metrics
Return on equity for Evolution AB (publ) stands at 26.6%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 18.1%, showing how much profit it generates from its asset base. EVGGF trades at a trailing price-to-earnings ratio of 11.14, below the Consumer Cyclical sector average of ~32.70x. Its free cash flow yield is 9.9%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.77 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 9.0%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
Evolution AB (publ)'s Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 9.27 places it in the safe zone, indicating low near-term bankruptcy risk.
Earnings Track Record
Evolution AB (publ) has missed Wall Street's EPS estimate in 3 of its last 8 reported quarters — a mixed record worth weighing. Reported results have landed about 6.9% above estimates on average.
EVGGF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Leading position in the live casino market.
- High profit margins indicating operational efficiency.
- Strong technological capabilities enhancing user experience.
- Diverse game portfolio catering to various player preferences.
Bear Case
- Dependence on regulatory environments that can impact operations.
- Limited geographic diversification compared to some competitors.
- No dividend yield may deter income-focused investors.
- High competition in the online gaming sector.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · June 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 FY2026 | $587M | $285M | $1.45 |
| Q1 FY2026 | $845M | $292M | $1.47 |
| Q4 FY2025 | $915M | $356M | $1.78 |
| Q3 FY2025 | $834M | $293M | $1.45 |
Q2 FY2026 · filed 30 Jun 2026 · Financial Modeling Prep
Based on FMP financials and quantitative analysis · Converted to USD from EUR at today's rate
EVGGF Latest News
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Evolution AB (EVVTY) Q4 2025 Earnings Call Highlights: Navigating Challenges and Expanding Horizons
Yahoo! Finance: EVGGF News · Feb 5, 2026
EVGGF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations collected by Financial Modeling Prep for EVGGF.
Price Targets
Wall Street price target analysis for EVGGF.
EVGGF MoonshotScore
MoonshotScore is Stock Expert AI's proprietary 0-100 research rating, not a buy or sell recommendation. No MoonshotScore is published for EVGGF; grades run from A+ (80-100) to F (below 30).
Leadership: Martin Carlesund
CEO
Martin Carlesund has been instrumental in leading Evolution AB (publ) since its inception in 2006. With a strong background in business management and a deep understanding of the gaming industry, he has successfully guided the company through significant growth phases. His leadership is characterized by a focus on innovation and operational excellence, which has helped Evolution maintain its competitive edge.
Track Record: Under Martin Carlesund's leadership, Evolution has expanded its market share significantly, becoming a leader in the live casino segment. His strategic decisions have driven the company's diversification of product offerings and enhanced its technological capabilities.
EVGGF OTC Market Information
The OTC Other tier is a classification for stocks that are traded over-the-counter without the stringent requirements of major exchanges like NYSE or NASDAQ. Companies in this tier may have less visibility and liquidity, which can increase investment risk compared to stocks listed on major exchanges.
- OTC Tier: OTC Other
- Lower liquidity compared to stocks on major exchanges, which can lead to higher volatility.
- Regulatory risks that may impact operations and market access.
- Limited analyst coverage compared to larger, publicly listed companies.
- Potential for wider bid-ask spreads, increasing trading costs.
- Review the company's financial statements and earnings reports.
- Assess the competitive landscape and market position.
- Monitor regulatory developments in key markets.
- Evaluate the company's growth strategy and product pipeline.
- Examine management's track record and strategic decisions.
- Established history since 2006 with a strong market presence.
- Partnerships with reputable gaming operators.
- Transparency in financial reporting and disclosures.
- Recognition and awards within the gaming industry.
What Investors Ask About Evolution AB (publ) (EVGGF) — Consumer Cyclical
Is EVGGF a good stock?
Stock Expert AI does not rate EVGGF buy, sell or hold. Evolution AB (publ) has no MoonshotScore yet; read the financial checkup, analyst consensus and risks directly. Whether it fits is your call: check what it sells, whether it earns, what the price assumes, and what would prove you wrong.
What are the main risks for EVGGF?
Evolution AB (publ) faces several risks, including potential regulatory changes that could impact its operations in key markets. The competitive landscape is intense, with both established and emerging players vying for market share.
What are the key factors to evaluate for EVGGF?
Evaluate EVGGF on fundamentals, analyst consensus, and risk factors. P/E: 11.14x vs the S&P 500's ~20-25x. Gross margin of 100.0% showcases the company's ability to maintain high pricing power in its offerings. Not financial advice.
How frequently does EVGGF data refresh on this page?
EVGGF's price was last updated on Sep 11, 2026 and refreshes on page view during U.S. market hours; the quote is a provider snapshot, not an exchange feed. Fundamentals follow quarterly filings. V2 calculations are scheduled daily at 10:15 UTC; the score's own date shows its last successful run.
What has driven EVGGF's recent stock price performance?
Evolution AB (publ) (EVGGF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Leading position in the live casino market. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider EVGGF overvalued or undervalued right now?
Evolution AB (publ) (EVGGF) trades at 11.14x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Can I buy fractional shares of EVGGF?
Yes, most major brokerages offer fractional shares of Evolution AB (publ) (EVGGF) with no minimum purchase requirement. This means you can invest any dollar amount regardless of the share price. Check your brokerage platform for specific terms, fees, and fractional share availability.
How can I track EVGGF's earnings and financial reports?
Evolution AB (publ) (EVGGF) reports quarterly earnings approximately 4-6 weeks after each fiscal quarter ends. You can track earnings dates, revenue and EPS estimates, and actual results on this page's Financials tab. Earnings surprises (beats or misses) often cause significant short-term price moves. Your brokerage can send alerts for EVGGF earnings announcements.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
No publishable V2 score is available for this stock yet.
Data provided for informational purposes only.
- The company operates in a highly regulated industry, and changes in regulations could impact its business model.