Hacksaw (HACK) fair value: what the stock is really worth
As of Oct 16, 2026: fair value of Hacksaw SEK 142, price SEK 57.20, upside +148.4%, quality 75 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 14, 2026.
How to read this chart
16‑month range kr 50.48 – kr 93.15 · fair‑value band kr 79.72 – kr 285.66 · the kr 57.20 price screens below the kr 142.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 14, 2026.
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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.
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The company was incorporated in 2017 and is based in Stockholm, Sweden.
Stock analysis
Hacksaw (HACK) currently trades at kr 57.20, while our model-based Fair Value estimate is kr 142.06, implying the stock looks roughly 59.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 239.14 per share, and 18 of the 23 models we run sit above the kr 57.20 price.
Bear case: the Multiples group reads lowest at kr 27.93, and 5 of the 23 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 79.72 (bear) to kr 285.66 (bull), the price of kr 57.20 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 75/100 (high quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
Key figures
Market cap 23.5B SEK (≈ $2.4B) · P/E ratio 8.4 · P/S ratio 5.71 · EPS (TTM) kr 6.78 · Dividend yield 5.5% · Net margin 67.7% · Return on equity 171% · Return on assets (EBIT) 90.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 92 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 43% fair-value upside, at 148%, HACK screens cheaper than that median.
Fair Value models
Bearkr 79.72Fair Value kr 142.06Bullkr 285.66
Price kr 57.20 · Upside +148.4%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 1.85 per share) are deliberately not added.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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+44.4%
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.
+83.5%
’22
’23
’24
’25
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +70.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+64.8%
Dividend (yield on the price)5.5%
Profit margin 2022 to 2025 ⓘ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.80% → 80%
⚠ Approximate: the rate leans on 2025, which sits 188% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−4.9%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+25.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −6.9% a year for the price and +22.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (86 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.Electronic Gaming & Multimedia · 137 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). "Hacksaw Fair Value". https://www.fairvalue-calculator.com/stock/HACK
Frequently asked questions
Is Hacksaw (HACK) overvalued or undervalued?
As of Oct 14, 2026, our model estimates a fair value of kr 142.06 versus a price of kr 57.20, about +148% upside (undervalued).
What is the fair value of HACK?
Our model-based fair value for Hacksaw is kr 142.06 (as of Oct 14, 2026), built from audited fundamentals. The current price: kr 57.20.
What is the quality score of HACK?
Hacksaw has a Quality Score of 75/100. 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 Hacksaw (HACK)?
Our model-based price target is the fair value of kr 142.06 (as of Oct 14, 2026) from 23 valuation models. Cautious scenario kr 79.72, optimistic scenario kr 285.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Hacksaw stock forecast for 2026?
Our models put fair value at kr 142.06, about +148% upside versus a price of kr 57.20 (undervalued). Cautious scenario kr 79.72, optimistic scenario kr 285.66. The calculation is refreshed regularly with new filings.
What is the revenue of Hacksaw (HACK)?
Hacksaw reported trailing-twelve-month revenue of about €224M (latest available figure, as of Oct 14, 2026).
Does Hacksaw pay a dividend?
Hacksaw currently shows a dividend yield of 5.47% relative to its recent price (as of Oct 14, 2026).
What growth is priced into Hacksaw (HACK)?
For today's price to be fair in a discounted-cash-flow model, Hacksaw would have to grow free cash flow by -4.9 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +83.5 % per year. As of Oct 14, 2026.
What discount rate (WACC) does the fair value of HACK use?
Our models discount Hacksaw at 9.5 %: a base by market capitalisation (mid), country premium for Sweden. 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 Hacksaw that is -4.9 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Hacksaw (HACK) delivered so far?
Over the past 3 years revenue at Hacksaw grew +83.5 % a year. The price currently implies -4.9 % 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 Hacksaw (HACK) growing?
The median revenue growth in the sector is +3.4 % a year. That is the yardstick for the growth priced into Hacksaw (-4.9 % 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 Hacksaw (HACK)?
The free-cash-flow yield on the price is 9.81 %: that much free cash flow Hacksaw produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hacksaw (HACK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hacksaw it is kr 142.06 per share (as of Oct 14, 2026), against a price of kr 57.20. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Hacksaw stock overvalued or undervalued in 2026?
As of Oct 14, 2026, HACK trades below its calculated fair value: price kr 57.20, fair value kr 142.06, a gap of about +148% (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 HACK?
No. The price is what the market pays today (kr 57.20); the fair value is what the company's own numbers justify (kr 142.06). For Hacksaw the two are kr 84.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hacksaw worth?
The market values Hacksaw at about 23.5B SEK (market capitalisation, as of Oct 14, 2026). Per share that is kr 57.20; our models calculate a fair value of kr 142.06 per share.
What do the bullish and bearish scenarios say about HACK?
Our models span a range for Hacksaw: cautious scenario kr 79.72, base kr 142.06, optimistic kr 285.66 per share (as of Oct 14, 2026, price kr 57.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HACK?
Hacksaw trades at a price-to-earnings ratio of 8.4 (as of Oct 14, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 142.06 is built from several models across several years. Other multiples: P/B 13.8, P/S 9.4, EV/EBITDA 10.5.
How solid is the balance sheet of Hacksaw (HACK)?
Balance-sheet figures for Hacksaw (as of Oct 14, 2026): return on equity 170.5%. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is HACK from its 52-week high?
Hacksaw trades at kr 57.20, about 39% below its 52-week high of kr 93.15 and 13% above the low of kr 50.48 (as of Oct 16, 2026). Distance from the high says nothing about value: that is what the fair value of kr 142.06 is for.
Which stocks are comparable to Hacksaw?
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 Hacksaw stock attractive at the current price?
The data as of Oct 14, 2026: price kr 57.20, calculated fair value kr 142.06 (+148%), Quality Score 75/100, from 23 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 HACK calculated?
We run Hacksaw through 23 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 142.06, 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 14.4 % above its aggregate fair value. Hacksaw currently trades 60 % 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 Hacksaw (HACK)?
The closing price on Oct 16, 2026 was kr 57.20. Our model-based fair value is kr 142.06, about +148% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hacksaw right now?
The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (kr 79.72). The market is more pessimistic than our downside scenario. The model range is unusually wide (kr 79.72 to kr 285.66). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Key figures of Hacksaw
How large is the market capitalisation of Hacksaw (HACK)?
The market capitalisation of Hacksaw is 23.5B SEK (≈ $2.4B). 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 Hacksaw (HACK)?
The price-to-sales ratio of Hacksaw is 5.71 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hacksaw (HACK)?
Earnings per share at Hacksaw are kr 6.78 (price ÷ EPS = P/E 8.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hacksaw (HACK)?
The dividend yield of Hacksaw is 5.5% (payout 46.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hacksaw (HACK)?
The net margin of Hacksaw is 67.7% (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 Hacksaw (HACK)?
The return on equity (ROE) of Hacksaw is 171% (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 Hacksaw (HACK)?
On an EBIT basis the return on assets of Hacksaw is 90.9% (avg 4y). 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 Hacksaw (HACK)?
The operating margin of Hacksaw is 81.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hacksaw (HACK)?
Revenue at Hacksaw is growing +30.6% versus a year earlier (3y avg +83.5%). 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 Hacksaw (HACK)?
Earnings per share at Hacksaw are growing +42.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Hacksaw (HACK) hold?
Hacksaw holds more cash than debt, €130M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 14, 2026