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Sharplink Gaming Ltd (SBET) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Sharplink Gaming Ltd $8.87, price $9.63, upside -7.9%, quality 19 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

Fair value above price? No
Good quality? No
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Financial Services · US · ISIN US8200144058

Thin data Sep 27, 2026

Sharplink Gaming Ltd

SBET · US

Low PriorityFair Value upside is limited and quality is weak.

·Fair value $8.87 · Fairly valued (−7.9%)

!Quality 19/100

!Expensive Growth (revenue 5y +65.2 %/yr)

!Low debt · negative free cash flow

!Trails peers (2/8)

!Narrow moat 9/100

!Insider activity 40/100

!Evidence only low, so the estimate is less certain

!Weak on valuation: 23 out of 100

26 models, one by oneBear $6.65 to bull $11.08 Growth analysisrevenue history, year by year Quality 19/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

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 $2.52 – $1,366 · fair‑value band $6.65 – $11.08 · the $9.63 price screens above the $8.87 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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Company profile

Sharplink, Inc. engages in the digital asset treasury business in the United States and internationally. The company operates as an institutional-grade Ethereum treasury platform. It operates in two segments, Ether (ETH) Treasury Management and Affiliate Marketing. The ETH Treasury Management segment focuses on the accumulation and active management of ETH as a long-term treasury asset. Its activities include native and liquid staking arrangements executed within a governance, custody, and risk management framework. The Affiliate Marketing segment provides performance-based customer acquisition services to sportsbook and online casino gaming operators. It also drives user traffic and player acquisition for licensed gaming operators through PAS.net, an international affiliate network, as well as a portfolio of U.S. state-specific digital properties. The company was formerly known as SharpLink Gaming, Inc. and changed its name to Sharplink, Inc. in February 2026. The company was founded in 2019 and is headquartered in Miami, Florida.

Stock analysis

Sharplink Gaming Ltd (SBET) currently trades at $9.63, while our model-based Fair Value estimate is $8.87, so the stock looks roughly fairly valued today (gap 8.6%).

Valuation

How firm this estimate is: it rests on 4 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: $6.65 (bear) to $11.08 (bull), the price of $9.63 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 19/100 (below-average quality), in the Financial Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Sharplink Gaming Ltd reported revenue of $28.1M in FY2025 versus $2.6M in FY2021, a compound +80.6%/yr. Reported net income was −$735M in FY2025.

Key figures

Market cap $1.0B · P/S ratio 26.5 · EPS (TTM) $−8.89 · Return on equity −163% · Return on assets (EBIT) −76.8% · Operating margin −5,677% · Revenue (TTM) $39.4M · Revenue growth (YoY) +15.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 50% below its 52-week high and 111% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −18% fair-value upside, at −8%, SBET screens cheaper than that median.

Fair Value models

Bear $6.65 Fair Value $8.87 Bull $11.08

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.

Highest evidence

P/B Multiple $7.82 $10.43 $13.03 55

NCAV (Graham) $6.13 $8.22 $12.27 54

All 2 models by family

Multiples

P/B Multiple $7.82 $10.43 $13.03 55

Asset-Based

NCAV (Graham) $6.13 $8.22 $12.27 54

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Quality Score breakdown

Overall quality 19/100

Of which business quality 23 · Market factors (momentum, volatility) 34

Profitability 0

Margins and returns on capital today

Quality Growth 40

Are margins and returns improving?

Cashflow 0

Earnings quality: real cash, not paper profit

Fin. Strength 68

Balance sheet, leverage, solvency risk

Investment 33

Disciplined investing over empire-building

Low Volatility 0

Calm price path (market factor)

Momentum 66

Price trend over the last 3–12 months (market factor)

52W Momentum 17

Distance to the 52-week high (market factor)

Net Issuance 0

Share count: buybacks or dilution?

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Revenue & earnings trend

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. 44/100

The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Revenue growth 1 year

+666.0%

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.

+100.3%

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.

+65.2%

Start year 2020 (pandemic). Over 10 years: +6.7% 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.

+4.7%

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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.

−53.0% (2020) → −116.7% (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

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Earlier news

News mood ⓘNews mood, the average tone of recent news (97 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. Neutral

Recent news coverage is roughly neutral, about typical for how stocks are covered.

Sharplink (SBET) Stock Dropped, So What Is Driving Attention Now? Yahoo Finance · Sep 2, 2026
SharpLink (SBET) Stock May Be No Bargain After Sales Stay Rich Yahoo Finance · Sep 2, 2026

Compare Sharplink Gaming Ltd with another stock

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.Capital Markets · 460 stocks

Beats the industry median on 2/7 measures

Overall it trails its industry peers.

Valuation

Quality Score 18 · Bottom 25%

Fair Value upside −7.9% · Below median

Profitability

Return on assets −101.4% · Bottom 25%

Growth and dividend

Revenue growth 15.3% · Below median

Balance sheet

Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/B 0.43× · Cheapest 25%

P/S (TTM) 26.50× · Priciest 25%

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)23 · sector 30

FUTURE (revenue growth)76 · sector 94

PAST (return on equity)0 · sector 30

HEALTH (low debt)100 · sector 94

DIVIDEND (yield)0 · sector 43

Context: sector, industry, market

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 Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value
Morgan Stanley, a financial holding company, MS	$196.31	$314.07	+60%
The Goldman Sachs Group GS	$935.45	$766.86	−18%
The Charles Schwab Corporation SCHW	$99.03	$118.07	+19%
Interactive Brokers Group IBKR	$89.24	$23.12	−74%
Robinhood Markets, Inc HOOD	$119.40	$47.77	−60%
Macquarie Group MQG	A$239.53	A$80.51	−66%
CITIC Securities Company 600030	¥26.29	¥18.35	−30%
Guotai Haitong Securities Co 601211	¥17.21	¥19.35	+12%
East Money Information Co 300059	¥18.28	¥4.94	−73%
Nomura Holdings NMR	$10.06	$10.25	+2%

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Sharplink Gaming Ltd · Fair Value
$8.87 −9%Fair Value
Calculator →

<a href="https://www.fairvalue-calculator.com/stock/SBET" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Sharplink Gaming Ltd · Fair Value</span><br><b style="font-size:20px">$8.87</b> <span style="color:#e0816f;font-weight:700;font-size:14px">−9%</span></span><span style="font-size:11px;color:var(--fvc-g-mitte);font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Sharplink Gaming Ltd Fair Value". https://www.fairvalue-calculator.com/stock/SBET

Frequently asked questions

Is Sharplink Gaming Ltd (SBET) overvalued or undervalued?

As of Sep 27, 2026, our model estimates a fair value of $8.87 versus a price of $9.63, about −8% upside (fairly valued).

What is the fair value of SBET?

Our model-based fair value for Sharplink Gaming Ltd is $8.87 (as of Sep 27, 2026), built from audited fundamentals. The current price: $9.63.

What is the quality score of SBET?

Sharplink Gaming Ltd has a Quality Score of 19/100. 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 Sharplink Gaming Ltd (SBET)?

Our model-based price target is the fair value of $8.87 (as of Sep 27, 2026) from 2 valuation models. Cautious scenario $6.65, optimistic scenario $11.08. It is a calculation from audited fundamentals, not an analyst target.

What is the Sharplink Gaming Ltd stock forecast for 2026?

Our models put fair value at $8.87, about −8% upside versus a price of $9.63 (fairly valued). Cautious scenario $6.65, optimistic scenario $11.08. The calculation is refreshed regularly with new filings.

What is the revenue of Sharplink Gaming Ltd (SBET)?

Sharplink Gaming Ltd reported trailing-twelve-month revenue of about $39.4M (latest available figure, as of Sep 27, 2026).

What is the intrinsic value of Sharplink Gaming Ltd (SBET)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sharplink Gaming Ltd it is $8.87 per share (as of Sep 27, 2026), against a price of $9.63. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).

Is Sharplink Gaming Ltd stock overvalued or undervalued in 2026?

As of Sep 27, 2026, SBET trades above its calculated fair value: price $9.63, fair value $8.87, a gap of about −8% (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 SBET?

No. The price is what the market pays today ($9.63); the fair value is what the company's own numbers justify ($8.87). For Sharplink Gaming Ltd the two are $0.7640 per share apart. That gap is exactly why we show both numbers side by side.

How much is Sharplink Gaming Ltd worth?

The market values Sharplink Gaming Ltd at about $1.0B (market capitalisation, as of Sep 27, 2026). Per share that is $9.63; our models calculate a fair value of $8.87 per share.

What do the bullish and bearish scenarios say about SBET?

Our models span a range for Sharplink Gaming Ltd: cautious scenario $6.65, base $8.87, optimistic $11.08 per share (as of Sep 27, 2026, price $9.63). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of Sharplink Gaming Ltd (SBET)?

Balance-sheet figures for Sharplink Gaming Ltd (as of Sep 27, 2026): return on equity −163.1%, debt of 0.00 per unit of equity. They feed the Quality Score of 19/100, which measures business quality independently of the share price.

How far is SBET from its 52-week high?

Sharplink Gaming Ltd trades at $9.63, about 50% below its 52-week high of $19.24 and 111% above the low of $4.56 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of $8.87 is for.

Which stocks are comparable to Sharplink Gaming Ltd?

From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers 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 Sharplink Gaming Ltd stock attractive at the current price?

The data as of Sep 27, 2026: price $9.63, calculated fair value $8.87 (−8%), Quality Score 19/100, from 2 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 SBET calculated?

We run Sharplink Gaming Ltd through 2 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 $8.87, 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. Sharplink Gaming Ltd itself currently trades above fair value. 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 Sharplink Gaming Ltd (SBET)?

The closing price on Sep 25, 2026 was $9.63. Our model-based fair value is $8.87, about −8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with Sharplink Gaming Ltd right now?

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. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Sharplink Gaming Ltd

How large is the market capitalisation of Sharplink Gaming Ltd (SBET)?

The market capitalisation of Sharplink Gaming Ltd is $1.0B. 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 Sharplink Gaming Ltd (SBET)?

The price-to-sales ratio of Sharplink Gaming Ltd is 26.5 (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 Sharplink Gaming Ltd (SBET)?

Earnings per share at Sharplink Gaming Ltd are $−8.89. Earnings per share over the last twelve months: total profit spread across every single share.

What is the return on equity of Sharplink Gaming Ltd (SBET)?

The return on equity (ROE) of Sharplink Gaming Ltd is −163% (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 Sharplink Gaming Ltd (SBET)?

On an EBIT basis the return on assets of Sharplink Gaming Ltd is −76.8% (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 Sharplink Gaming Ltd (SBET)?

The operating margin of Sharplink Gaming Ltd is −5,677% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at Sharplink Gaming Ltd (SBET)?

Revenue at Sharplink Gaming Ltd is growing +15.3% versus a year earlier (3y avg +100%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.

How much free cash flow does Sharplink Gaming Ltd (SBET) generate?

The free cash flow of Sharplink Gaming Ltd is −$17.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net cash does Sharplink Gaming Ltd (SBET) hold?

Sharplink Gaming Ltd holds more cash than debt, $28.5M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.

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