Betsson AB (BETS-B) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Betsson AB stock SEK 293, price SEK 97.75, upside +200.0%, quality 70 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range kr 26.89 – kr 189.66 · fair‑value band kr 175.07 – kr 386.81 · the kr 97.75 price screens below the kr 293.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Betsson AB (publ) engages in the online gaming business worldwide. It offers casino games, sports betting, and other forms of gaming, such as poker and bingo.
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The company provides its products under the Betsson, Betsafe, Starcasino, Inkabet, betFirst, Nordicbet, Racebets, Rizk, and Jalla Casino brands. The company was formerly known as Cherryföretagen AB and changed its name to Betsson AB (publ) in July 2006.
Betsson AB (publ) was incorporated in 1963 and is based in Stockholm, Sweden.
Stock analysis
Betsson AB (BETS-B) currently trades at kr 97.75, while our model-based Fair Value estimate is kr 293.25, implying the stock looks roughly 67% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 401.47 per share, and 24 of the 26 models we run sit above the kr 97.75 price.
Bear case: the Dividend Discount group reads lowest at kr 153.92, and 2 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 175.07 (bear) to kr 386.81 (bull), the price of kr 97.75 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Betsson AB reported revenue of €1.2B in FY2025 versus €651M in FY2021, a compound +16.4%/yr. Reported net income was €181M in FY2025, compounding +14.4%/yr from FY2021.
Key figures
Market cap 13.5B SEK (≈ $1.4B) Small · P/E ratio 10.8 · P/S ratio 1.62 · EPS (TTM) kr 9.00 · Dividend yield 7.4% · Net margin 15.1% · Return on equity 13.7% · Return on assets (EBIT) 16.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 60 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 16% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 12% fair-value upside, at 200%, BETS-B screens cheaper than that median.
Fair Value models
Bearkr 175.07Fair Value kr 293.25Bullkr 386.81
Price kr 97.75 · Upside +200.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 1.48 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.94/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.2%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+15.5%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+13.6%
Start year 2020 (pandemic). Over 10 years: +11.5% a year
Revenue growth 24 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+16.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+19.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.5%
Dividend (yield on the price)7.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.12.5% vs 7.2%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.18% → 21%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−9.3%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −11.2% a year for the price.
News mood ⓘNews mood, the average tone of recent news (93 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: Betsson shows solid margins backed by casino strength and Latin American growth, yet lacks visible durable moat indicators amid limited public signals.
Main risk: Rising betting duties threaten to constrain margins in Betsson's casino and sportsbook operations despite higher customer activity.
Betsson posted record third-quarter revenue thanks to casino strength and a surge in Latin American activity, but sharply higher betting duties and softer sportsbook margins cut profits. Our models continue to see the shares as undervalued despite these pressures. Will the record number of active customers drive lasting earnings recovery or will rising regulatory costs continue to limit margins?
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Gambling · 45 stocks
Beats the industry median on 14/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (12 months)13.7% · Above median
Return on assets13.7% · Top 25%
Net margin (12 months)9.2% · Above median
Operating margin (12 months)14.9% · Above median
Growth and dividend
Revenue growth (quarter YoY)10.4% · Above median
Dividend yield (12 months)7.4% · Above median
Balance sheet
Debt / equity0.19× · Below median
Valuation Multiplesvs Gambling median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Betsson AB Fair Value". https://www.fairvalue-calculator.com/stock/BETS-B
Frequently asked questions
Is Betsson AB (BETS-B) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of kr 293.25 versus a price of kr 97.75, about +200% upside (undervalued).
What is the fair value of BETS-B?
Our model-based fair value for Betsson AB is kr 293.25 (as of Nov 7, 2026), built from audited fundamentals. The current price: kr 97.75.
What is the quality score of BETS-B?
Betsson AB has a Quality Score of 70/100. 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 price target for Betsson AB (BETS-B)?
Our model-based price target is the fair value of kr 293.25 (as of Nov 7, 2026) from 26 valuation models. Cautious scenario kr 175.07, optimistic scenario kr 386.81. It is a calculation from audited fundamentals, not an analyst target.
What is the Betsson AB stock forecast for 2026?
Our models put fair value at kr 293.25, about +200% upside versus a price of kr 97.75 (undervalued). Cautious scenario kr 175.07, optimistic scenario kr 386.81. The calculation is refreshed regularly with new filings.
What is the revenue of Betsson AB (BETS-B)?
Betsson AB reported trailing-twelve-month revenue of about €1.2B (latest available figure, as of Nov 7, 2026).
Does Betsson AB pay a dividend?
Betsson AB currently shows a dividend yield of 7.44% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Betsson AB (BETS-B) and when is the ex-dividend date?
Betsson AB pays a dividend of kr 7.27 per share a year, a dividend yield of 7.4%. The next ex-dividend date is Nov 10, 2026. A dividend has been paid every year since at least 2007. The payout ratio is 43.9% of earnings. Free cash flow covers the dividend 1.90 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Betsson AB (BETS-B)?
For today's price to be fair in a discounted-cash-flow model, Betsson AB would have to grow free cash flow by -9.3 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.6 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of BETS-B use?
Our models discount Betsson AB at 9.6 %: a base by market capitalisation (small), damped by beta 0.17, country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Betsson AB that is -9.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has Betsson AB (BETS-B) delivered so far?
Over the past 5 years revenue at Betsson AB grew +13.6 % a year. The price currently implies free-cash-flow growth of -9.3 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Betsson AB (BETS-B) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Betsson AB (-9.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Betsson AB (BETS-B)?
The free-cash-flow yield on the price is 12.33 %: that much free cash flow Betsson AB produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Betsson AB (BETS-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Betsson AB it is kr 293.25 per share (as of Nov 7, 2026), against a price of kr 97.75. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Betsson AB stock overvalued or undervalued in 2026?
As of Nov 7, 2026, BETS-B trades below its calculated fair value: price kr 97.75, fair value kr 293.25, a gap of about +200% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BETS-B?
No. The price is what the market pays today (kr 97.75); the fair value is what the company's own numbers justify (kr 293.25). For Betsson AB the two are kr 195.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Betsson AB worth?
The market values Betsson AB at about 13.5B SEK (market capitalisation, as of Nov 7, 2026). Per share that is kr 97.75; our models calculate a fair value of kr 293.25 per share.
What do the bullish and bearish scenarios say about BETS-B?
Our models span a range for Betsson AB: cautious scenario kr 175.07, base kr 293.25, optimistic kr 386.81 per share (as of Nov 7, 2026, price kr 97.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BETS-B?
Betsson AB trades at a price-to-earnings ratio of 10.8 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 293.25 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 9.5. Other multiples: PEG 1.0, P/B 1.4, P/S 1.0, EV/EBITDA 5.9.
What is the PEG ratio of BETS-B?
The PEG ratio of Betsson AB is 0.99 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Betsson AB (BETS-B)?
Balance-sheet figures for Betsson AB (as of Nov 7, 2026): return on equity 13.7%, debt of 0.19 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is BETS-B from its 52-week high?
Betsson AB trades at kr 97.75, about 31% below its 52-week high of kr 141.93 and 16% above the low of kr 84.60 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 293.25 is for.
Which stocks are comparable to Betsson AB?
From the same area (Consumer Cyclical) we also value Evolution AB, Flutter Entertainment plc, The Lottery Corporation, Lottomatica Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Betsson AB stock attractive at the current price?
The data as of Nov 7, 2026: price kr 97.75, calculated fair value kr 293.25 (+200%), Quality Score 70/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BETS-B calculated?
We run Betsson AB through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 293.25 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Betsson AB currently trades 67% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Betsson AB (BETS-B)?
The closing price on Nov 6, 2026 was kr 97.75. Our model-based fair value is kr 293.25, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Betsson AB right now?
The price is below even our cautious bear case (kr 175.07). 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. Solid quality (70/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (kr 175.07 to kr 386.81) leaves room in how you read the outcome.
Where does the earnings growth of Betsson AB (BETS-B) come from?
Earnings per share at Betsson AB grew +8.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.2 %, EBIT margin −1.1 %, tax rate −1.7 %, residual (interest, one-offs) −0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Betsson AB
How large is the market capitalisation of Betsson AB (BETS-B)?
The market capitalisation of Betsson AB is 13.5B SEK (≈ $1.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Betsson AB (BETS-B)?
The price-to-sales ratio of Betsson AB is 1.62 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Betsson AB (BETS-B)?
Earnings per share at Betsson AB are kr 9.00 (price ÷ EPS = P/E 10.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Betsson AB (BETS-B)?
The dividend yield of Betsson AB is 7.4% (payout 80.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Betsson AB (BETS-B)?
The net margin of Betsson AB is 15.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Betsson AB (BETS-B)?
The return on equity (ROE) of Betsson AB is 13.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Betsson AB (BETS-B)?
On an EBIT basis the return on assets of Betsson AB is 16.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Betsson AB (BETS-B)?
The operating margin of Betsson AB is 14.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Betsson AB (BETS-B)?
Revenue at Betsson AB is growing +10.4% versus a year earlier (3y avg +15.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Betsson AB (BETS-B)?
Earnings per share at Betsson AB are growing −44.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Betsson AB (BETS-B) hold?
Betsson AB holds more cash than debt, €134M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026