Embracer Group AB (publ) (EMBRAC-B) fair value: what the stock is really worth
As of Oct 23, 2026: fair value (intrinsic value) of Embracer Group AB (publ) stock SEK 230, price SEK 90.40, upside +154.9%, quality 38 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?Yes
Good quality?No
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 25, 2026.
How to read this chart
60‑month range kr 44.24 – kr 685.20 · fair‑value band kr 162.77 – kr 284.13 · the kr 90.40 price screens below the kr 230.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 25, 2026.
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Embracer Group AB (publ), together with its subsidiaries, develops and publishes PC, console, mobile, VR, and board games for the games market internationally. It operates through, PC/Console Games, Mobile Games, and Entertainment and Services segments.
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The company also publishes films and comic books, as well as engages in the trading of card games. It distributes games through retailers, physical stores, and digital distributors.
The company was formerly known as THQ Nordic AB (publ) and changed its name to Embracer Group AB (publ) in October 2019. Embracer Group AB (publ) was founded in 1990 and is headquartered in Karlstad, Sweden.
Stock analysis
Embracer Group AB (publ) (EMBRAC-B) currently trades at kr 90.40, while our model-based Fair Value estimate is kr 230.46, implying the stock looks roughly 60.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 316.63 per share, and 2 of the 3 models we run sit above the kr 90.40 price.
Bear case: the Multiples group reads lowest at kr 230.46, and 1 of the 3 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 162.77 (bear) to kr 284.13 (bull), the price of kr 90.40 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 38/100 (below-average quality), in the Communication Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Embracer Group AB (publ) reported revenue of 15.9B SEK in FY2026 versus 17.0B SEK in FY2022, a compound −1.7%/yr. Reported net income was −5.8B SEK in FY2026.
Key figures
Market cap 19.3B SEK (≈ $1.9B) Small · P/S ratio 1.13 · EPS (TTM) kr −30.56 · Net margin −32.2% · Return on equity −25.6% · Return on assets (EBIT) −7.6% · Operating margin −1.9% · Revenue (TTM) 16.7B SEK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 18 out of 100 (medium confidence).
What moves the price
The share trades about 12% below its 52-week high and 104% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 57% fair-value upside, at 155%, EMBRAC-B screens cheaper than that median.
Fair Value models
Bearkr 162.77Fair Value kr 230.46Bullkr 284.13
Price kr 90.40 · Upside +154.9%
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.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.28/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−28.9%
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.
−25.0%
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.
+12.0%
Start year 2021 (pandemic). Over 10 years: +53.9% a year
Revenue growth 12 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.
+52.3%
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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.
8.3% (2021) → −45.2% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
News mood ⓘNews mood, the average tone of recent news (24 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.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
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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.Electronic Gaming & Multimedia · 136 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Embracer Group AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/EMBRAC-B
Frequently asked questions
Is Embracer Group AB (publ) (EMBRAC-B) overvalued or undervalued?
As of Oct 25, 2026, our model estimates a fair value of kr 230.46 versus a price of kr 90.40, about +155% upside (undervalued).
What is the fair value of EMBRAC-B?
Our model-based fair value for Embracer Group AB (publ) is kr 230.46 (as of Oct 25, 2026), built from audited fundamentals. The current price: kr 90.40.
What is the quality score of EMBRAC-B?
Embracer Group AB (publ) has a Quality Score of 38/100. 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 Embracer Group AB (publ) (EMBRAC-B)?
Our model-based price target is the fair value of kr 230.46 (as of Oct 25, 2026) from 3 valuation models. Cautious scenario kr 162.77, optimistic scenario kr 284.13. It is a calculation from audited fundamentals, not an analyst target.
What is the Embracer Group AB (publ) stock forecast for 2026?
Our models put fair value at kr 230.46, about +155% upside versus a price of kr 90.40 (undervalued). Cautious scenario kr 162.77, optimistic scenario kr 284.13. The calculation is refreshed regularly with new filings.
What is the revenue of Embracer Group AB (publ) (EMBRAC-B)?
Embracer Group AB (publ) reported trailing-twelve-month revenue of about 16.7B SEK (latest available figure, as of Oct 25, 2026).
What is the intrinsic value of Embracer Group AB (publ) (EMBRAC-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Embracer Group AB (publ) it is kr 230.46 per share (as of Oct 25, 2026), against a price of kr 90.40. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Embracer Group AB (publ) stock overvalued or undervalued in 2026?
As of Oct 25, 2026, EMBRAC-B trades below its calculated fair value: price kr 90.40, fair value kr 230.46, a gap of about +155% (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 EMBRAC-B?
No. The price is what the market pays today (kr 90.40); the fair value is what the company's own numbers justify (kr 230.46). For Embracer Group AB (publ) the two are kr 140.06 per share apart. That gap is exactly why we show both numbers side by side.
How much is Embracer Group AB (publ) worth?
The market values Embracer Group AB (publ) at about 19.3B SEK (market capitalisation, as of Oct 25, 2026). Per share that is kr 90.40; our models calculate a fair value of kr 230.46 per share.
What do the bullish and bearish scenarios say about EMBRAC-B?
Our models span a range for Embracer Group AB (publ): cautious scenario kr 162.77, base kr 230.46, optimistic kr 284.13 per share (as of Oct 25, 2026, price kr 90.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Embracer Group AB (publ) (EMBRAC-B)?
Balance-sheet figures for Embracer Group AB (publ) (as of Oct 25, 2026): return on equity −25.6%, debt of 0.02 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is EMBRAC-B from its 52-week high?
Embracer Group AB (publ) trades at kr 90.40, about 12% below its 52-week high of kr 103.06 and 104% above the low of kr 44.24 (as of Oct 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 230.46 is for.
Which stocks are comparable to Embracer Group AB (publ)?
From the same area (Communication Services) we also value NetEase, Inc, Take-Two Interactive Software, Inc, Roblox Corporation, Zhejiang Century Huatong 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 Embracer Group AB (publ) stock attractive at the current price?
The data as of Oct 25, 2026: price kr 90.40, calculated fair value kr 230.46 (+155%), Quality Score 38/100, from 3 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 EMBRAC-B calculated?
We run Embracer Group AB (publ) through 3 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 kr 230.46, 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 12.3 % above its aggregate fair value. Embracer Group AB (publ) currently trades 61 % 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 Embracer Group AB (publ) (EMBRAC-B)?
The closing price on Oct 23, 2026 was kr 90.40. Our model-based fair value is kr 230.46, about +155% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Embracer Group AB (publ) right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 162.77). 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.
Key figures of Embracer Group AB (publ)
How large is the market capitalisation of Embracer Group AB (publ) (EMBRAC-B)?
The market capitalisation of Embracer Group AB (publ) is 19.3B SEK (≈ $1.9B). 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 Embracer Group AB (publ) (EMBRAC-B)?
The price-to-sales ratio of Embracer Group AB (publ) is 1.13 (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 Embracer Group AB (publ) (EMBRAC-B)?
Earnings per share at Embracer Group AB (publ) are kr −30.56. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Embracer Group AB (publ) (EMBRAC-B)?
The net margin of Embracer Group AB (publ) is −32.2% (last twelve months). 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 Embracer Group AB (publ) (EMBRAC-B)?
The return on equity (ROE) of Embracer Group AB (publ) is −25.6% (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 Embracer Group AB (publ) (EMBRAC-B)?
On an EBIT basis the return on assets of Embracer Group AB (publ) is −7.6% (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 Embracer Group AB (publ) (EMBRAC-B)?
The operating margin of Embracer Group AB (publ) is −1.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Embracer Group AB (publ) (EMBRAC-B)?
Revenue at Embracer Group AB (publ) is growing +24.3% versus a year earlier (3y avg −25.0%). 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 Embracer Group AB (publ) (EMBRAC-B)?
Earnings per share at Embracer Group AB (publ) are growing +24.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Embracer Group AB (publ) (EMBRAC-B) generate?
The free cash flow of Embracer Group AB (publ) is −546M SEK (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Embracer Group AB (publ) (EMBRAC-B) hold?
Embracer Group AB (publ) holds more cash than debt, 3.3B SEK net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Oct 25, 2026