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MAG Interactive AB (publ) (MAGI) Fair Value & Analysis

Communication Services · SE · Market cap 198M SEK (≈ $20.7M) · ISIN SE0010520908

MI MAG Interactive AB (publ) MAGI · ST
Pricekr 8.16
Fair Valuekr 5.10
Upside-37.5%
Quality64/100
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Strengths

generates free cash flow

Risks

!Trades 60% ABOVE our fair value of kr 5.10
!Weak Growth (revenue 5y +4.9 %/yr)
!Loss-making · -3.0% net margin
!Mixed vs. peers (6/11)
Weak Growth (revenue 5y +4.9 %/yr)
Loss-making · -3.0% net margin
generates free cash flow
Mixed vs. peers (6/11)
Narrow moat 17/100
Evidence: Low Range kr 4.53 – kr 5.67 Share as image

Fair value as of: Aug 13, 2026

From 11 valuation models · updated 17 days ago

Share price +12.1% over the past month.

A solid business, but trading 60% above our fair value.

What runs behind every stock

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

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What matters now

  • The price sits above even our optimistic bull case (kr 5.67). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 39.96 kr 5.02 Fair Value kr 5.10 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range kr 5.02 – kr 39.96 · fair‑value band kr 4.53 – kr 5.67 · the kr 8.16 price screens above the kr 5.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

MAG Interactive AB (publ) (MAGI) currently trades at kr 8.16, while our model-based Fair Value estimate is kr 5.10, implying the stock looks roughly 37.5% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, MAG Interactive AB (publ) generated revenue of 324M SEK at a net margin of -3.7%. Revenue declined 0.6% year over year. It earns a return on equity of -3.9%. The balance sheet holds a net cash position of 74.8M SEK. Fundamentals as of Aug 13, 2026

Our scenario range runs from kr 4.53 (bear case) to kr 5.67 (bull case); at kr 8.16, the current price sits above 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 51% below its 52-week high and 67% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -44% fair-value upside, at -38%, MAGI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
FCF DCF best evidence kr 19.82 kr 25.58 kr 32.52 78
Growth DCF kr 19.92 kr 24.98 kr 30.76 75
Owner Earnings kr 6.60 kr 7.76 kr 9.14 73
All 11 models by family
DCF Models
FCF DCF best evidence kr 19.82 kr 25.58 kr 32.52 78
Owner Earnings kr 6.60 kr 7.76 kr 9.14 73
5Y Revenue Exit kr 20.33 kr 29.08 kr 39.96 68
5Y EBITDA Exit kr 11.46 kr 12.88 kr 14.26 72
10Y Revenue Exit kr 19.50 kr 26.56 kr 35.53 63
10Y EBITDA Exit kr 15.11 kr 17.08 kr 19.15 65
Multiples
EV/EBITDA kr 5.00 kr 5.57 kr 6.15 64
EV/Revenue kr 21.88 kr 29.85 kr 37.81 51
Asset-Based
NCAV (Graham) kr 5.62 kr 7.53 kr 11.23 51
Growth DCF
Growth DCF kr 19.92 kr 24.98 kr 30.76 75
Rev-Margin DCF kr 20.33 kr 29.25 kr 39.21 68

Widest divergence: Growth DCF (kr 24.98) versus Multiples (kr 5.57). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/S ratio 0.63 TTM
EPS (TTM) kr -0.4600
Dividend yield 13.0%
Net margin -3.4% FY2025
Return on equity -3.9% TTM
Return on assets (EBIT) 1.6% avg 5y
More key figures
Profitability
Operating margin 1.9% TTM
Growth
Revenue (TTM) 324M SEK TTM
Revenue growth (YoY) -0.6% 3y avg -5.6%
EPS growth (YoY) -39.8%
Balance sheet & cash flow
Free cash flow 54.2M SEK FY2025
Net cash 74.8M SEK FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 66 · Market factors (momentum, volatility) 41

Profitability 16
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 84
Earnings quality: real cash, not paper profit
Fin. Strength 93
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 90
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

MAG Interactive AB (publ) develops and publishes mobile games worldwide. It offers casual social games through QuizDuel, Crozzle, Wordzee, Primetime, Word Mansion, Tile Mansion, Ruzzle, Word Domination, and WordBrain, as well as Wordalot, word games, and trivia. The company distributes its games through digital app stores.

Full company description

MAG Interactive AB (publ) develops and publishes mobile games worldwide. It offers casual social games through QuizDuel, Crozzle, Wordzee, Primetime, Word Mansion, Tile Mansion, Ruzzle, Word Domination, and WordBrain, as well as Wordalot, word games, and trivia. The company distributes its games through digital app stores. MAG Interactive AB (publ) was incorporated in 2010 and is headquartered in Stockholm, Sweden.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MAG Interactive AB (publ) reported revenue of kr 276M in FY2025 versus kr 287M in FY2021, a compound −1.0%/yr. Reported net income was −kr 9.4M in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
276M SEK
Latest YoY
−2.7%
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.
−5.6%
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.
+4.9%
Avg. revenue growth/yr (10Y) 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.
+6.1%
Value creation/yr 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
Revenue −1.0%/yr
FY21 kr 287M
FY22 kr 328M
FY23 kr 362M
FY24 kr 283M
FY25 kr 276M
Net income
FY21 kr 7.0M
FY22 kr 11.3M
FY23 kr 561K
FY24 −kr 3.2M
FY25 −kr 9.4M

MAGI screens 60% overvalued. Compare with Konami Group →

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Cite: Fair Value Calculator (2026). "MAG Interactive AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/MAGI

Peer Group

Electronic Gaming & Multimedia · 155 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.

Quality Score 64 · Above median
Fair Value upside −38% · Below median
Return on assets -2% · Below median
Net margin (TTM) -3% · Below median
Operating margin (TTM) -2% · Below median
Revenue growth 8% · Above median
Dividend yield (TTM) 13.0% · Top 25%

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

P/B 0.07× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
P/FCF 0.4× · Cheaper than median

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
VALUE0 · sector 25
FUTURE40 · sector 7
PAST0 · sector 13
HEALTH0 · sector 100
DIVIDEND100 · sector 56

VALUE 0: the price sits above our fair-value range.

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 13, 2026).

Stock Price Fair Value vs Fair Value
Konami Group KNM £219.40 £71.97 -67%
NetEase, Inc 9999 HK$192.50 HK$262.75 +36%
Electronic Arts Inc EA $209.70 $76.57 -63%
Take-Two Interactive Software, Inc TTWO $233.00 $60.20 -74%
Roblox Corporation RBLX $37.56 $21.20 -44%
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 234.00 PLN 64.48 PLN -72%

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Frequently asked questions

Is MAG Interactive AB (publ) (MAGI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of kr 5.10 versus a price of kr 8.16, about −38% (overvalued).
What is the fair value of MAGI?
Our model-based fair value for MAG Interactive AB (publ) is kr 5.10 (as of Aug 13, 2026), built from audited fundamentals. The current price: kr 8.16.
What is the quality score of MAGI?
MAG Interactive AB (publ) has a Quality Score of 64/100. 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 revenue of MAG Interactive AB (publ) (MAGI)?
MAG Interactive AB (publ) reported trailing-twelve-month revenue of about 324M SEK (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MAGI?
The net profit margin of MAG Interactive AB (publ) is about -3.7%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does MAG Interactive AB (publ) pay a dividend?
MAG Interactive AB (publ) currently shows a dividend yield of about 12.99% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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