EVOKE PLC (EVOK) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of EVOKE PLC £0.44, price £0.43, upside +2.8%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 Sep 27, 2026.
How to read this chart
60‑month range £0.2095 – £4.78 · fair‑value band £0.1794 – £0.8009 · the £0.4300 price screens below the £0.4422 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Evoke plc, together with its subsidiaries, operates as a betting and gaming company in the United Kingdom, Italy, Spain, Romania, Denmark, and internationally. The company operates through Retail, UK&I Online, and International segments.
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Evoke plc, together with its subsidiaries, operates as a betting and gaming company in the United Kingdom, Italy, Spain, Romania, Denmark, and internationally. The company operates through Retail, UK&I Online, and International segments. It is involved in the operation of gaming machines; and online activities, comprising sports betting, casino, and poker and other gaming products, as well as telephone betting services. The company owns and operates its business through William Hill, William Hill Vegas, 888casino, 888sport, 888poker, Mr Green, and Winner brands. The company was formerly known as 888 Holdings plc and changed its name to Evoke plc in May 2024. Evoke plc was founded in 1997 and is headquartered in Gibraltar, Gibraltar.
Stock analysis
EVOKE PLC (EVOK) currently trades at £0.4300, while our model-based Fair Value estimate is £0.4422, so the stock looks roughly fairly valued today (gap 2.8%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of £2.24 per share, and 9 of the 10 models we run sit above the £0.4300 price.
Bear case: the Multiples group reads lowest at £1.67, and 1 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: £0.1794 (bear) to £0.8009 (bull), the price of £0.4300 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 49/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
EVOKE PLC reported revenue of £1.8B in FY2025 versus £712M in FY2021, a compound +25.8%/yr. Reported net income was −£548M in FY2025.
Key figures
Market cap 213M GBX · P/S ratio 0.12 · EPS (TTM) £−1.22 · Net margin −30.7% · Return on assets (EBIT) 4.6% · Operating margin 8.4% · Revenue (TTM) £1.8B · Revenue growth (YoY) +0.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 105% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 32% fair-value upside, at 3%, EVOK screens richer than that median.
Fair Value models
Bear £0.1794Fair Value £0.4422Bull £0.8009
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. 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.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.
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.62/100
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.
+12.9%
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.
+20.7%
Start year 2020 (pandemic). Over 10 years: +14.5% a year
Revenue growth 23 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.
+14.3%
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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.
4.7% (2020) → 7.1% (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
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
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).
+17.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+11.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (UK: IMF forecast 2.3% a year to 2030, 3.3% from 2016 to 2025) that is about +15.1% a year for the price and +8.6% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (12 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.
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 · 53 stocks
Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+2.8% · Below median
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets3.3% · Below median
Net margin (TTM)−30.7% · Bottom 25%
Operating margin (TTM)8.4% · Below median
Growth and dividend
Revenue growth0.2% · Below median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Gambling median · lower = cheaper
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM)0.16× · Cheapest 25%
P/FCF3.3× · Cheapest 25%
EV/EBITDA7.7× · Cheaper than median
PEG113.29× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)37· sector 47
FUTURE (revenue growth)1· sector 4
PAST (return on equity)0· sector 24
HEALTH (low debt)0· sector 88
DIVIDEND (yield)0· sector 61
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
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Cite: Fair Value Calculator (2026). "EVOKE PLC Fair Value". https://www.fairvalue-calculator.com/stock/EVOK
Frequently asked questions
Is EVOKE PLC (EVOK) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of £0.4422 versus a price of £0.4300, about +3% upside (fairly valued).
What is the fair value of EVOK?
Our model-based fair value for EVOKE PLC is £0.4422 (as of Sep 27, 2026), built from audited fundamentals. The current price: £0.4300.
What is the quality score of EVOK?
EVOKE PLC has a Quality Score of 49/100. 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 EVOKE PLC (EVOK)?
Our model-based price target is the fair value of £0.4422 (as of Sep 27, 2026) from 10 valuation models. Cautious scenario £0.1794, optimistic scenario £0.8009. It is a calculation from audited fundamentals, not an analyst target.
What is the EVOKE PLC stock forecast for 2026?
Our models put fair value at £0.4422, about +3% upside versus a price of £0.4300 (fairly valued). Cautious scenario £0.1794, optimistic scenario £0.8009. The calculation is refreshed regularly with new filings.
What is the revenue of EVOKE PLC (EVOK)?
EVOKE PLC reported trailing-twelve-month revenue of about £1.8B (latest available figure, as of Sep 27, 2026).
What growth is priced into EVOKE PLC (EVOK)?
For today's price to be fair in a discounted-cash-flow model, EVOKE PLC would have to grow free cash flow by +17.8 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +20.7 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of EVOK use?
Our models discount EVOKE PLC at 13.3 %: a base by market capitalisation (micro), damped by beta 1.00, country premium for United Kingdom. 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 EVOKE PLC that is +17.8 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has EVOKE PLC (EVOK) delivered so far?
Over the past 5 years revenue at EVOKE PLC grew +20.7 % a year. The price currently implies +17.8 % per year free-cash-flow growth a 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 EVOKE PLC (EVOK) growing?
The median revenue growth in the sector is +2.3 % a year. That is the yardstick for the growth priced into EVOKE PLC (+17.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of EVOKE PLC (EVOK)?
The free-cash-flow yield on the price is 44.79 %: that much free cash flow EVOKE PLC produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EVOKE PLC (EVOK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EVOKE PLC it is £0.4422 per share (as of Sep 27, 2026), against a price of £0.4300. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is EVOKE PLC stock overvalued or undervalued in 2026?
As of Sep 27, 2026, EVOK trades below its calculated fair value: price £0.4300, fair value £0.4422, a gap of about +3% (fairly valued). 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 EVOK?
No. The price is what the market pays today (£0.4300); the fair value is what the company's own numbers justify (£0.4422). For EVOKE PLC the two are £0.0122 per share apart. That gap is exactly why we show both numbers side by side.
How much is EVOKE PLC worth?
The market values EVOKE PLC at about 213M GBX (market capitalisation, as of Sep 27, 2026). Per share that is £0.4300; our models calculate a fair value of £0.4422 per share.
What do the bullish and bearish scenarios say about EVOK?
Our models span a range for EVOKE PLC: cautious scenario £0.1794, base £0.4422, optimistic £0.8009 per share (as of Sep 27, 2026, price £0.4300). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of EVOK?
The PEG ratio of EVOKE PLC is 113.29 (P/E divided by earnings growth, as of Sep 27, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of EVOKE PLC (EVOK)?
Balance-sheet figures for EVOKE PLC (as of Sep 27, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is EVOK from its 52-week high?
EVOKE PLC trades at £0.4300, about 20% below its 52-week high of £0.5350 and 105% above the low of £0.2095 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of £0.4422 is for.
Which stocks are comparable to EVOKE PLC?
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 EVOKE PLC stock attractive at the current price?
The data as of Sep 27, 2026: price £0.4300, calculated fair value £0.4422 (+3%), Quality Score 49/100, from 10 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 EVOK calculated?
We run EVOKE PLC through 10 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 £0.4422, 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 16.1 % above its aggregate fair value. EVOKE PLC currently trades 3 % 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 EVOKE PLC (EVOK)?
The closing price on Sep 25, 2026 was £0.4300. Our model-based fair value is £0.4422, about +3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EVOKE PLC right now?
The model range is unusually wide (£0.1794 to £0.8009). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of EVOKE PLC
How large is the market capitalisation of EVOKE PLC (EVOK)?
The market capitalisation of EVOKE PLC is 213M GBX. 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 EVOKE PLC (EVOK)?
The price-to-sales ratio of EVOKE PLC is 0.12 (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 EVOKE PLC (EVOK)?
Earnings per share at EVOKE PLC are £−1.22. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of EVOKE PLC (EVOK)?
The net margin of EVOKE PLC is −30.7% (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 EBIT return on assets of EVOKE PLC (EVOK)?
On an EBIT basis the return on assets of EVOKE PLC is 4.6% (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 EVOKE PLC (EVOK)?
The operating margin of EVOKE PLC is 8.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EVOKE PLC (EVOK)?
Revenue at EVOKE PLC is growing +0.2% versus a year earlier (3y avg +12.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does EVOKE PLC (EVOK) carry?
The net debt of EVOKE PLC is 1.6B GBX (fiscal year 2025, ≈ 18.8 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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Thin data
Sep 27, 2026