Hacksaw (HACK) Fair Value & Analysis
Communication Services · SE · Market cap 23.4B SEK (≈ $2.4B) · ISIN SE0025138357
What is Hacksaw really worth?
A strong business, currently priced close to our fair value of kr 74.84.
Strengths
Risks
For context
Fair value as of: Aug 21, 2026
From 23 valuation models · updated 12 days ago
Fair value updated Aug 21, 2026, revised from kr 74.52 to kr 74.84 (+0.4%) since Aug 13, 2026. Share price +12.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide (kr 56.24 to kr 299.36). 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.
Price vs Fair Value (14 months)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
14‑month range kr 50.48 – kr 87.80 · fair‑value band kr 56.24 – kr 299.36 · the kr 82.10 price screens above the kr 74.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.
Analysis
Hacksaw (HACK) currently trades at kr 82.10, while our model-based Fair Value estimate is kr 74.84, implying the stock looks roughly 9.7% fairly valued today. The Quality Score stands at 84/100 (high quality), in the Communication Services sector. Bull case: the Growth Earnings group reads highest at a median of kr 21.47 per share, and 0 of the 23 models we run sit above the kr 82.10 price. Bear case: the DCF Models group reads lowest at kr 13.72, and 23 of the 23 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Hacksaw generated revenue of 210M SEK at a net margin of 73.6%. Revenue grew 28.1% year over year. It earns a return on equity of 132.1%. The balance sheet holds a net cash position of 130M SEK. Fundamentals as of Aug 21, 2026
Our scenario range runs from kr 56.24 (bear case) to kr 299.36 (bull case); at kr 82.10, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 66% 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 −9%, HACK screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 3.64 per share, which is 4.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 23 models by family
Widest divergence: Growth Earnings (kr 21.47) versus Asset-Based (kr 0.3600). Highest evidence: EPV (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 84 · Market factors (momentum, volatility) 64
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
Hacksaw AB (publ) operates as a B2B technology platform and game development company in Sweden and Czech Republic. It develops and distributes games comprising digital slots, scratch cards, and instant win games for private and state-owned iGaming operators, as well as develops remote gaming servers.
Full company description
Hacksaw AB (publ) operates as a B2B technology platform and game development company in Sweden and Czech Republic. It develops and distributes games comprising digital slots, scratch cards, and instant win games for private and state-owned iGaming operators, as well as develops remote gaming servers. The company was incorporated in 2017 and is based in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2025 · reported fiscal years
Hacksaw reported revenue of €197M in FY2025 versus €32.0M in FY2022, a compound +83.5%/yr. Reported net income was €134M in FY2025, compounding +110.8%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
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Peer Group
Electronic Gaming & Multimedia · 156 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 Multiples vs Electronic Gaming & Multimedia median · lower = cheaper
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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Konami Group KNM | £221.05 | £71.97 | −67% |
| 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 | $233.00 | $60.20 | −74% |
| Roblox Corporation RBLX | $41.29 | $21.20 | −49% |
| 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 | 762.00 TWD | 568.16 TWD | −25% |
| CD Projekt S.A CDR | 234.40 PLN | 64.48 PLN | −72% |
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