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B90 Holdings (B90) Fair Value & Analysis

Consumer Cyclical · GB · Market cap 12.3M GBX

BH B90 Holdings B90 · LSE
Price£0.0280
Fair Value£0.0258
Upside-7.9%
Quality62/100
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Healthy Growth
Thin margins · 5.5% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/12)
Narrow moat 40/100
Evidence: High Range £0.0230 – £0.0258 Share as image

Fair value as of: Jul 18, 2026

From 25 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from £0.0244 to £0.0258 (+5.6%) since Jun 26, 2026. Share price +11.1% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits above even our optimistic bull case (£0.0258). The favourable scenario is already priced in.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • The models converge in a tight band (£0.0230 to £0.0258), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

£0.1260 £0.0163 Fair Value £0.0258 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range £0.0163 – £0.1260 · fair‑value band £0.0230 – £0.0258 · the £0.0280 price screens above the £0.0258 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

B90 Holdings (B90) currently trades at £0.0280, while our model-based Fair Value estimate is £0.0258, implying the stock looks roughly 7.9% fairly valued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, B90 Holdings generated revenue of £7.2M at a net margin of 5.5%. Revenue grew 121.4% year over year. It earns a return on equity of 5.7%. Fundamentals as of Jul 18, 2026

Our scenario range runs from £0.0230 (bear case) to £0.0258 (bull case); at £0.0280, the current price sits above 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. For context, the median of 10 Consumer Cyclical peers we cover trades at -11% fair-value upside, at -8%, B90 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
Growth DCF £0.0200 £0.0300 £0.0400 80
Residual Income £0.0100 £0.0100 £0.0100 76
Rev-Margin DCF £0.0100 £0.0200 £0.0400 74
All 25 models by family
DCF Models
FCF DCF £0.0200 £0.0200 £0.0400 38
5Y Revenue Exit £0.0100 £0.0200 £0.0300 39
5Y EBITDA Exit £0.0200 £0.0300 £0.0600 41
5Y P/E Exit £0.0200 £0.0300 £0.0600 38
10Y Revenue Exit £0.0100 £0.0300 £0.0300 36
10Y EBITDA Exit £0.0200 £0.0400 £0.0700 37
10Y P/E Exit £0.0200 £0.0300 £0.0600 35
Earnings-Based
Graham-Dodd £0.0100 £0.0400 £0.0600 54
Lynch FV £0.0200 £0.0300 £0.0400 50
PEG = 1.0 £0.0200 £0.0300 £0.0400 46
EPV £0.0100 £0.0100 £0.0100 59
Dividend Discount
Gordon GGM — £0.0100 £0.0100 70
DDM Multi-Stage — £0.0100 £0.0100 61
Multiples
P/E Multiple £0.0100 £0.0200 £0.0200 63
P/S Multiple £0.0100 £0.0200 £0.0200 58
P/B Multiple £0.0100 £0.0200 £0.0200 55
EV/EBIT £0.0100 £0.0200 £0.0200 53
EV/EBITDA £0.0200 £0.0300 £0.0300 54
EV/Revenue £0.0100 £0.0100 £0.0200 43
Asset-Based
NCAV (Graham) £0.0100 £0.0100 £0.0200 50
Growth DCF
Growth DCF £0.0200 £0.0300 £0.0400 80
Rev-Margin DCF £0.0100 £0.0200 £0.0400 74
Economic Profit
Residual Income £0.0100 £0.0100 £0.0100 76
ROIC Compounder £0.0100 £0.0100 £0.0100 72
Growth Earnings
Growth-Adj P/E £0.0300 £0.0400 £0.0500 68

Widest divergence: Growth Earnings (£0.0400) versus Dividend Discount (£0.0100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 7.2M GBX
Revenue growth (YoY) +121%
Net margin 5.5%
Return on equity 5.7%
Free cash flow 603K GBX FY2025
Operating margin 9.0%
More key figures
Net cash 967K GBX FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 41

Profitability 53
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 39
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

B90 Holdings PLC, together with its subsidiaries, operates online casino and sports betting platforms in the Isle of Man.

Full company description

B90 Holdings PLC, together with its subsidiaries, operates online casino and sports betting platforms in the Isle of Man. It engages in online marketing and promotion of online sportsbook and casino websites; operation of sportsbook and casino brands; and customer acquisition for online sports betting and online casinos games under the Oddsen.nu, Bet90, and Tippen4you.com brand names. The company was founded in 2012 and is based in Douglas, the Isle of Man.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

B90 Holdings reported revenue of £7.2M in FY2025 versus £827K in FY2021, a compound +71.5%/yr. Reported net income was £394K in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
£7.2M
Latest YoY
+103.1%
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.
+49.5%
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.
+54.5%
Avg. growth/yr (14Y) ⓘ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.
+41.4%
Revenue +71.5%/yr
FY21 £827K
FY22 £2.1M
FY23 £3.0M
FY24 £3.5M
FY25 £7.2M
Net income
FY21 −£3.5M
FY22 −£4.3M
FY23 −£5.5M
FY24 −£1.7M
FY25 £394K

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B90 Holdings · Fair Value
£0.0258 −8%Fair Value
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Cite: Fair Value Calculator (2026). "B90 Holdings Fair Value". https://www.fairvalue-calculator.com/stock/B90

Peer Group

Gambling · 54 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 62 · Above median
Fair Value upside +7% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 3% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 121% · Top 25%

Valuation Multiples vs Gambling median · lower = cheaper

P/B 2.32× · Pricier than median
P/S (TTM) 2.33× · Pricier than median
P/FCF 27.6× · Pricier than 75% of peers
EV/EBITDA 17.0× · Pricier than 75% of peers

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 43 · sector 30
FUTURE 100 · sector 9
PAST 23 · sector 26
HEALTH 100 · sector 89
DIVIDEND 0 · sector 66

Values & ESG

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

Gambling

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

Similar stocks

10 more Gambling stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

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Super Group SGHC $14.73 $9.39 -36%
Lottomatica Group LTMC €25.62 €16.38 -36%
Light & Wonder, Inc LNWO $78.94 $70.17 -11%
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Tabcorp Holdings TAH A$0.8750 A$0.3700 -58%

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Frequently asked questions

Is B90 Holdings (B90) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of £0.0258 versus a price of £0.0280, about −8% (fairly valued).
What is the fair value of B90?
Our model-based fair value for B90 Holdings is £0.0258 (as of Jul 18, 2026), built from audited fundamentals. The current price is £0.0280.
What is the quality score of B90?
B90 Holdings has a Quality Score of 62/100. 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 B90 Holdings (B90)?
B90 Holdings reported trailing-twelve-month revenue of about £7.2M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of B90?
The net profit margin of B90 Holdings is about 5.5%, meaning it keeps roughly 5.5% of revenue as net income. 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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