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Atari SA (ALATA) Fair Value & Analysis

Communication Services · FR · Market cap €57.5M

AS Atari SA ALATA · PA
Price€21.60
Fair Value€41.75
Upside+93.3%
Quality29/100
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Mixed Growth
Loss-making · -27.1% net margin
Negative equity (buybacks among others) · negative free cash flow
Mixed vs. peers (5/9)
Narrow moat 19/100
Evidence: Low Range €26.96 – €56.54 Share as image

Fair value as of: Aug 14, 2026

From 3 valuation models · updated yesterday

Share price +9.1% over the past month.

Below-average quality, screening 93% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (29/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (€26.96). The market is more pessimistic than our downside scenario.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (€26.96 to €56.54) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€100.25 €17.90 Fair Value €41.75 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.

How to read this chart

60‑month range €17.90 – €100.25 · fair‑value band €26.96 – €56.54 · the €21.60 price screens below the €41.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.

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Analysis

Atari SA (ALATA) currently trades at €21.60, while our model-based Fair Value estimate is €41.75, implying the stock looks roughly 93.3% undervalued today. The Quality Score stands at 29/100 (below-average quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Over the trailing twelve months, Atari SA generated revenue of €38.8M at a net margin of -27.1%. Revenue grew 38.0% year over year. Net debt stands at €50.5M. Fundamentals as of Aug 14, 2026

Our scenario range runs from €26.96 (bear case) to €56.54 (bull case); at €21.60, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 52% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -25% fair-value upside, at 93%, ALATA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Gordon GGM €2.16 €3.62 €4.70 70
DDM Multi-Stage €2.16 €3.43 €3.89 61
EV/EBITDA €30.86 €45.65 €60.44 54
All 3 models by family
Dividend Discount
Gordon GGM €2.16 €3.62 €4.70 70
DDM Multi-Stage €2.16 €3.43 €3.89 61
Multiples
EV/EBITDA €30.86 €45.65 €60.44 54

Widest divergence: Multiples (€45.65) versus Dividend Discount (€3.43). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) €38.8M
Revenue growth (YoY) +38.0%
Net margin -27.1%
Return on equity -578%
Free cash flow −€8.1M FY2025
Operating margin -13.8%
More key figures
EPS (TTM) €-4.68
Net debt €50.5M FY2025

Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 29/100

Of which business quality 30 · Market factors (momentum, volatility) 40

Profitability 21
Margins and returns on capital today
Quality Growth 92
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 5
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 15
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Atari SA operates as a multi-platform, interactive entertainment, and licensing products company worldwide. The company offers video games, hardware, and consumer products.

Full company description

Atari SA operates as a multi-platform, interactive entertainment, and licensing products company worldwide. The company offers video games, hardware, and consumer products. It provides monetization of video games through multiple channels, multimedia production, and licensing activities; Atari videogame computer system; and Atari Blockchain, which develops and markets non-fungible tokens (NFTs) and develops ecosystem around the Atari Token. It owns and manages a portfolio of approximately 200 games and franchises under the Breakout, Asteroids, Centipede, Missile Command, Pong, and RollerCoaster Tycoon brands. The company was formerly known as Infogrames Entertainment SA and changed its name to Atari SA in May 2009. Atari SA was founded in 1972 and is based in Paris, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Atari SA reported revenue of €33.6M in FY2025 versus €18.9M in FY2021, a compound +15.5%/yr. Reported net income was −€12.6M in FY2025.

Growth Quality 14/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€33.6M
Latest YoY
+63.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+31.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.0%
Avg. growth/yr (24Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−11.7%
Revenue +15.5%/yr
FY21 €18.9M
FY22 €14.9M
FY23 €10.1M
FY24 €20.6M
FY25 €33.6M
Net income
FY21 −€11.9M
FY22 −€23.8M
FY23 −€9.5M
FY24 −€13.5M
FY25 −€12.6M

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Cite: Fair Value Calculator (2026). "Atari SA Fair Value". https://www.fairvalue-calculator.com/stock/ALATA

Peer Group

Electronic Gaming & Multimedia · 155 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 29 · Bottom 25%
Fair Value upside +93% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) -27% · Bottom 25%
Operating margin (TTM) -14% · Bottom 25%
Revenue growth 38% · Top 25%

Valuation Multiples vs Electronic Gaming & Multimedia median · lower = cheaper

P/S (TTM) 1.72× · Pricier than median
EV/EBITDA 6.6× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 21
FUTURE 100 · sector 7
PAST 0 · sector 9
HEALTH 100 · sector 99
DIVIDEND 0 · sector 42

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).

Stock Price Fair Value vs Fair Value
NetEase, Inc 9999 HK$192.50 HK$262.75 +36%
Electronic Arts Inc EA $209.70 $76.57 -63%
Take-Two Interactive Software, Inc TTWO $243.00 $60.20 -75%
Roblox Corporation RBLX $36.22 $21.20 -41%
Zhejiang Century Huatong Group 002602 ¥14.29 ¥14.68 +3%
KRAFTON, Inc 259960 234,500 KRW 356,218 KRW +52%
Giant Network Group 002558 ¥28.57 ¥15.50 -46%
International Games System Co 3293 762.00 TWD 568.16 TWD -25%
37 Interactive Entertainment Network Technology Group 002555 ¥19.21 ¥22.29 +16%
Kingnet Network Co 002517 ¥17.36 ¥12.86 -26%

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Frequently asked questions

Is Atari SA (ALATA) overvalued or undervalued?
As of Aug 14, 2026, our model estimates a fair value of €41.75 versus a price of €21.60, about +93% (undervalued).
What is the fair value of ALATA?
Our model-based fair value for Atari SA is €41.75 (as of Aug 14, 2026), built from audited fundamentals. The current price is €21.60.
What is the quality score of ALATA?
Atari SA has a Quality Score of 29/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Atari SA (ALATA)?
Atari SA reported trailing-twelve-month revenue of about €38.8M (latest available figure, as of Aug 14, 2026).
What is the net profit margin of ALATA?
The net profit margin of Atari SA is about -27.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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