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Bragg Gaming Group Inc (BRAG) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Bragg Gaming Group Inc $2.50, price $1.42, upside +76.2%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Consumer Cyclical · US · Home Canada · ISIN CA1048333068

BG Bragg Gaming Group Inc logo Some data Sep 23, 2026

Bragg Gaming Group Inc

BRAG · US

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value $2.50 · Strongly undervalued (+76%)
!Quality 51/100
!Mixed Growth (revenue 5y +7.8 %/yr)
!Loss-making · -6.3% net margin (TTM)
✓generates free cash flow
!Trails peers (4/11)
!Narrow moat 21/100
!Evidence only medium, so the estimate is less certain
!Weak on future: 3 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$12.27 $1.30 Fair Value $2.50 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $1.30 – $12.27 · fair‑value band $1.28 – $3.66 · the $1.42 price screens below the $2.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Bragg Gaming Group Inc. operates as an iGaming content and technology solutions. The company offers Bragg PAM, a player account management platform; Bragg HUB, an iGaming product delivery solution; and Fuze, a gamification and engagement toolset. It also offers casino content, and marketing and operational services.

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Bragg Gaming Group Inc. operates as an iGaming content and technology solutions. The company offers Bragg PAM, a player account management platform; Bragg HUB, an iGaming product delivery solution; and Fuze, a gamification and engagement toolset. It also offers casino content, and marketing and operational services. The company operates in Malta, the Netherlands, the United States, Brazil, Curaçao, Marshall Islands, Belgium, Croatia, Isle of Man, Czech Republic, and internationally. The company was formerly known as Rockies Financial Corporation and changed its name to Bragg Gaming Group Inc. in 2018. Bragg Gaming Group Inc. is headquartered in Toronto, Canada.

Stock analysis

Bragg Gaming Group Inc (BRAG) currently trades at $1.42, while our model-based Fair Value estimate is $2.50, implying the stock looks roughly 43.2% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $14.99 per share, and 11 of the 11 models we run sit above the $1.42 price.

Bear case: the Asset-Based group reads lowest at $1.63, and 0 of the 11 models stay below the price. Evidence for this calculation is medium.

Scenario range: $1.28 (bear) to $3.66 (bull), the price of $1.42 sits inside 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 51/100 (solid quality), in the Consumer Cyclical sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Bragg Gaming Group Inc reported revenue of €104M in FY2025 versus €58.3M in FY2021, a compound +15.5%/yr. Reported net income was −€7.9M in FY2025.

Key figures

Market cap $44.8M · P/S ratio 0.42 · EPS (TTM) $−0.3000 · Net margin −7.7% · Return on equity −10.1% · Return on assets (EBIT) −3.4% · Operating margin −2.5% · Revenue (TTM) €106M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).

What moves the price

The share trades about 55% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 24% fair-value upside, at 76%, BRAG screens cheaper than that median.

Fair Value models

Bear $1.28 Fair Value $2.50 Bull $3.66
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.
Highest evidence
FCF DCF $10.81 $16.51 $34.26 71
Growth DCF $10.17 $19.12 $33.55 70
5Y EBITDA Exit $7.01 $11.36 $19.86 68
All 11 models by family
DCF Models
FCF DCF $10.81 $16.51 $34.26 71
Owner Earnings $6.91 $14.99 $31.33 66
5Y Revenue Exit $7.83 $13.03 $23.86 65
5Y EBITDA Exit $7.01 $11.36 $19.86 68
10Y Revenue Exit $8.60 $17.71 $23.26 62
10Y EBITDA Exit $8.26 $15.98 $28.79 61
Multiples
EV/EBITDA $5.32 $7.01 $8.69 64
EV/Revenue $6.02 $8.49 $10.96 51
Asset-Based
NCAV (Graham) $1.22 $1.63 $2.44 51
Growth DCF
Growth DCF $10.17 $19.12 $33.55 70
Rev-Margin DCF $8.60 $14.87 $28.00 64

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Quality Score breakdown

Overall quality 51/100

Of which business quality 53 · Market factors (momentum, volatility) 20

Profitability 30
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 31
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 45/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.6%
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.
+6.9%
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.
+7.8%
Start year 2020 (pandemic)
Revenue growth 21 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.
+78.2%
Profit margin (trend) ⓘ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.
−0.9% (2020) → −4.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Compare Bragg Gaming Group Inc with another stock

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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 · 57 stocks

Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 51 · Below median
Fair Value upside +76% · Top 25%
Profitability
Return on assets −2% · Bottom 25%
Net margin (TTM) −6% · Below median
Operating margin (TTM) −2% · Bottom 25%
Growth and dividend
Revenue growth 1% · Below median

Valuation Multiplesvs Gambling median · lower = cheaper

P/B 0.72× · Cheaper than median
P/S (TTM) 0.42× · Cheapest 25%
P/FCF 2.8× · Cheapest 25%
EV/EBITDA 57.6× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 53
FUTURE (revenue growth)3 · sector 10
PAST (return on equity)0 · sector 34
HEALTH (low debt)0 · sector 86
DIVIDEND (yield)0 · sector 67

Context: sector, industry, market

Values & ESG

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

Gambling

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Cite: Fair Value Calculator (2026). "Bragg Gaming Group Inc Fair Value". https://www.fairvalue-calculator.com/stock/BRAG

Frequently asked questions

Is Bragg Gaming Group Inc (BRAG) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $2.50 versus a price of $1.42, about +76% upside (undervalued).
What is the fair value of BRAG?
Our model-based fair value for Bragg Gaming Group Inc is $2.50 (as of Sep 23, 2026), built from audited fundamentals. The current price: $1.42.
What is the quality score of BRAG?
Bragg Gaming Group Inc has a Quality Score of 51/100. 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 Bragg Gaming Group Inc (BRAG)?
Our model-based price target is the fair value of $2.50 (as of Sep 23, 2026) from 11 valuation models. Cautious scenario $1.28, optimistic scenario $3.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Bragg Gaming Group Inc stock forecast for 2026?
Our models put fair value at $2.50, about +76% upside versus a price of $1.42 (undervalued). Cautious scenario $1.28, optimistic scenario $3.66. The calculation is refreshed regularly with new filings.
What is the revenue of Bragg Gaming Group Inc (BRAG)?
Bragg Gaming Group Inc reported trailing-twelve-month revenue of about €106M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Bragg Gaming Group Inc (BRAG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bragg Gaming Group Inc it is $2.50 per share (as of Sep 23, 2026), against a price of $1.42. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Bragg Gaming Group Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, BRAG trades below its calculated fair value: price $1.42, fair value $2.50, a gap of about +76% (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 BRAG?
No. The price is what the market pays today ($1.42); the fair value is what the company's own numbers justify ($2.50). For Bragg Gaming Group Inc the two are $1.08 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bragg Gaming Group Inc worth?
The market values Bragg Gaming Group Inc at about $44.8M (market capitalisation, as of Sep 23, 2026). Per share that is $1.42; our models calculate a fair value of $2.50 per share.
What do the bullish and bearish scenarios say about BRAG?
Our models span a range for Bragg Gaming Group Inc: cautious scenario $1.28, base $2.50, optimistic $3.66 per share (as of Sep 23, 2026, price $1.42). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Bragg Gaming Group Inc (BRAG)?
Balance-sheet figures for Bragg Gaming Group Inc (as of Sep 23, 2026): return on equity −10.1%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is BRAG from its 52-week high?
Bragg Gaming Group Inc trades at $1.42, about 55% below its 52-week high of $3.15 and 9% above the low of $1.30 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $2.50 is for.
Which stocks are comparable to Bragg Gaming Group Inc?
From the same area (Consumer Cyclical) we also value Flutter Entertainment plc, Evolution AB, The Lottery Corporation, Rush Street Interactive, Inc, 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 Bragg Gaming Group Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $1.42, calculated fair value $2.50 (+76%), Quality Score 51/100, from 11 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 BRAG calculated?
We run Bragg Gaming Group Inc through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $2.50, 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 13.0 % above its aggregate fair value. Bragg Gaming Group Inc currently trades 76 % 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 Bragg Gaming Group Inc (BRAG)?
The closing price on Sep 23, 2026 was $1.42. Our model-based fair value is $2.50, about +76% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bragg Gaming Group Inc right now?
The model range is unusually wide ($1.28 to $3.66). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Bragg Gaming Group Inc

How large is the market capitalisation of Bragg Gaming Group Inc (BRAG)?
The market capitalisation of Bragg Gaming Group Inc is $44.8M. 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 Bragg Gaming Group Inc (BRAG)?
The price-to-sales ratio of Bragg Gaming Group Inc is 0.42 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bragg Gaming Group Inc (BRAG)?
Earnings per share at Bragg Gaming Group Inc are $−0.3000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Bragg Gaming Group Inc (BRAG)?
The net margin of Bragg Gaming Group Inc is −7.7% (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 Bragg Gaming Group Inc (BRAG)?
The return on equity (ROE) of Bragg Gaming Group Inc is −10.1% (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 Bragg Gaming Group Inc (BRAG)?
On an EBIT basis the return on assets of Bragg Gaming Group Inc is −3.4% (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 Bragg Gaming Group Inc (BRAG)?
The operating margin of Bragg Gaming Group Inc is −2.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bragg Gaming Group Inc (BRAG)?
Revenue at Bragg Gaming Group Inc is growing +0.6% versus a year earlier (3y avg +6.9%). 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 Bragg Gaming Group Inc (BRAG)?
Earnings per share at Bragg Gaming Group Inc are growing +310% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bragg Gaming Group Inc (BRAG) generate?
The free cash flow of Bragg Gaming Group Inc is €16.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Bragg Gaming Group Inc (BRAG) carry?
The net debt of Bragg Gaming Group Inc is €944K (fiscal year 2025, ≈ 0.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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