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Data-driven stock valuation

Embracer Group (EMBRAC-B) fair value: what the stock is really worth

We calculate from audited financials what Embracer Group is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Communication Services · SE · Market cap 16.4B SEK (≈ $1.7B) · ISIN SE0023615885

At a glance

EG Embracer Group EMBRAC-B · ST
Pricekr 77.08
Fair Valuekr 227.26
Upside+194.8%
Quality40/100

Below-average quality, trading 66% below our fair value of kr 227.26.

As of Aug 20, 2026, the fair value of Embracer Group is kr 227.26 per share against a price of kr 77.08, so the fair value sits 195% above the price. A model estimate from reported figures, not an analyst target.

!Weak Growth (revenue 5y +12.0 %/yr)
!Thin margins · 5.7% net margin
!Low debt · negative free cash flow
Ranks above peers (6/10)
!Narrow moat 33/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range kr 174.34 to kr 280.18

Fair value as of: Aug 20, 2026

From 3 valuation models · updated 21 days ago

Share price +11.7% over the past month.

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What runs behind every stock

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

What matters now

  • The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (kr 174.34). 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.

Price vs Fair Value (5 years)

kr 747.60 kr 44.24 Fair Value kr 227.26 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range kr 44.24 – kr 747.60 · fair‑value band kr 174.34 – kr 280.18 · the kr 77.08 price screens below the kr 227.26 fair value. Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

Embracer Group (EMBRAC-B) currently trades at kr 77.08, while our model-based Fair Value estimate is kr 227.26, implying the stock looks roughly 66.1% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Communication Services sector. Bull case: the DCF Models group reads highest at a median of kr 375.59 per share, and 2 of the 3 models we run sit above the kr 77.08 price. Bear case: the Asset-Based group reads lowest at kr 61.46, and 1 of the 3 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Embracer Group generated revenue of 5.9B SEK at a net margin of 5.7%. Revenue grew 36.8% year over year. It earns a return on equity of 7.8%. The balance sheet holds a net cash position of 3.3B SEK. Fundamentals as of Aug 20, 2026

Scenario range: kr 174.34 (bear) to kr 280.18 (bull), the price of kr 77.08 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 36% below its 52-week high and 79% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at −46% fair-value upside, at 195%, EMBRAC-B screens cheaper than that median.

Fair Value models

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

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
EV/EBITDA kr 180.37 kr 233.29 kr 286.21 67
Owner Earnings kr 177.16 kr 375.59 kr 792.16 66
NCAV (Graham) kr 45.87 kr 61.46 kr 91.73 54
All 3 models by family
DCF Models
Owner Earnings kr 177.16 kr 375.59 kr 792.16 66
Multiples
EV/EBITDA kr 180.37 kr 233.29 kr 286.21 67
Asset-Based
NCAV (Graham) kr 45.87 kr 61.46 kr 91.73 54

Widest divergence: DCF Models (kr 375.59) versus Asset-Based (kr 61.46). Highest evidence: EV/EBITDA (67).

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Key figures & financial health

P/S ratio 2.45 TTM
EPS (TTM) kr −32.76
Net margin −36.6% FY2026
Return on equity 7.8% TTM
Return on assets (EBIT) −7.6% avg 5y
Operating margin 2.8% TTM
More key figures
Growth
Revenue (TTM) 5.9B SEK TTM
Revenue growth (YoY) +36.8% 3y avg −25.0%
EPS growth (YoY) +24.7%
Balance sheet & cash flow
Free cash flow −546M SEK FY2026
Net cash 3.3B SEK FY2026

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 41 · Market factors (momentum, volatility) 48

Profitability 24
Margins and returns on capital today
Quality Growth 16
Are margins and returns improving?
Cashflow 21
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 62
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

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. The company also publishes films and comic books, as well as engages in the trading of card games.

Full company description

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. 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.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Embracer Group 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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
15.9B SEK
Latest YoY
−28.9%
Avg. revenue 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.
−25.0%
Avg. revenue 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.
+12.0%
Avg. revenue growth/yr (12Y) 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.
+52.3%
EBIT 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)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Revenue −1.7%/yr
FY22 17.0B SEK
FY23 37.7B SEK
FY24 42.2B SEK
FY25 22.4B SEK
FY26 15.9B SEK
Net income
FY22 −4.3B SEK
FY23 4.5B SEK
FY24 −18.2B SEK
FY25 6.0B SEK
FY26 −5.8B SEK

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Cite: Fair Value Calculator (2026). "Embracer Group Fair Value". https://www.fairvalue-calculator.com/stock/EMBRAC-B

Peer Group

Electronic Gaming & Multimedia · 151 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.

Valuation
Quality Score 40 · Bottom 25%
Profitability
Return on equity (TTM) 8% · Above median
Return on assets 2% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 3% · Below median
Growth and dividend
Revenue growth 37% · Top 25%
Balance sheet
Debt / equity 0.02× · Above median

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

P/B 0.08× · Cheapest 25%
P/S (TTM) 0.27× · Cheapest 25%

Context: sector, industry, market

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 27
FUTURE100 · sector 7
PAST31 · sector 13
HEALTH99 · sector 99
DIVIDEND0 · sector 57

Insider activity: 45/100

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

Similar stocks

10 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
Konami Group KNM £207.75 £75.10 −64%
NetEase, Inc 9999 HK$188.80 HK$263.39 +40%
Electronic Arts Inc EA $209.70 $76.57 −63%
Take-Two Interactive Software, Inc TTWO $214.69 $60.20 −72%
Roblox Corporation RBLX $44.81 $21.20 −53%
Zhejiang Century Huatong Group 002602 ¥13.90 ¥14.68 +6%
KRAFTON, Inc 259960 234,500 KRW 356,218 KRW +52%
Giant Network Group 002558 ¥28.57 ¥15.50 −46%
International Games System Co 3293 709.00 TWD 568.16 TWD −20%
CD Projekt S.A CDR 232.30 PLN 64.48 PLN −72%

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Frequently asked questions

Is Embracer Group (EMBRAC-B) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of kr 227.26 versus a price of kr 77.08, about +195% upside (undervalued).
What is the fair value of EMBRAC-B?
Our model-based fair value for Embracer Group is kr 227.26 (as of Aug 20, 2026), built from audited fundamentals. The current price: kr 77.08.
What is the quality score of EMBRAC-B?
Embracer Group has a Quality Score of 40/100. 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 (EMBRAC-B)?
Our model-based price target is the fair value of kr 227.26 (as of Aug 20, 2026) from 3 valuation models. Cautious scenario kr 174.34, optimistic scenario kr 280.18. It is a calculation from audited fundamentals, not an analyst target.
What is the Embracer Group stock forecast for 2026?
Our models put fair value at kr 227.26, about +195% upside versus a price of kr 77.08 (undervalued). Cautious scenario kr 174.34, optimistic scenario kr 280.18. The calculation is refreshed regularly with new filings.
What is the revenue of Embracer Group (EMBRAC-B)?
Embracer Group reported trailing-twelve-month revenue of about 5.9B SEK (latest available figure, as of Aug 20, 2026).
What is the net profit margin of EMBRAC-B?
The net profit margin of Embracer Group is about 5.7%, meaning it keeps roughly 5.7% of revenue as net income. Based on the latest reported figures.
What is the intrinsic value of Embracer Group (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 it is kr 227.26 per share (as of Aug 20, 2026), against a price of kr 77.08. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Embracer Group stock overvalued or undervalued in 2026?
As of Aug 20, 2026, EMBRAC-B trades below its calculated fair value: price kr 77.08, fair value kr 227.26, a gap of about +195% (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 77.08); the fair value is what the company's own numbers justify (kr 227.26). For Embracer Group the two are kr 150.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Embracer Group worth?
The market values Embracer Group at about 16.4B SEK (market capitalisation, as of Aug 20, 2026). Per share that is kr 77.08; our models calculate a fair value of kr 227.26 per share.
What do the bullish and bearish scenarios say about EMBRAC-B?
Our models span a range for Embracer Group: cautious scenario kr 174.34, base kr 227.26, optimistic kr 280.18 per share (as of Aug 20, 2026, price kr 77.08). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Embracer Group (EMBRAC-B)?
Balance-sheet figures for Embracer Group (as of Aug 20, 2026): return on equity 7.8%, debt of 0.02 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is EMBRAC-B from its 52-week high?
Embracer Group trades at kr 77.08, about 36% below its 52-week high of kr 119.84 and 79% above the low of kr 43.00 (as of Aug 20, 2026). Distance from the high says nothing about value: that is what the fair value of kr 227.26 is for.
Which stocks are comparable to Embracer Group?
From the same area (Communication Services) we also value Konami Group, NetEase, Inc, Electronic Arts Inc, Take-Two Interactive Software, 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 Embracer Group stock attractive at the current price?
The data as of Aug 20, 2026: price kr 77.08, calculated fair value kr 227.26 (+195%), Quality Score 40/100, 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 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 227.26, with the spread shown as a cautious and an optimistic scenario.
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