Evolution (EVO) Stock Overview
Develops, produces, markets, and licenses live casino and slots solutions to gaming operators in Europe, Asia, North America, Latin America, and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 3/6 |
| Past Performance | 3/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
Rewards
Risk Analysis
No risks detected for EVO from our risk checks.
EVO Community Fair Values
Create NarrativeSee what 265 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Top Community Narratives
Evolution AB (publ) Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | SEK 700.00 |
| 52 Week High | SEK 887.60 |
| 52 Week Low | SEK 515.40 |
| Beta | 0.70 |
| 1 Month Change | 8.97% |
| 3 Month Change | 28.21% |
| 1 Year Change | 8.19% |
| 3 Year Change | -51.21% |
| 5 Year Change | -55.17% |
| Change since IPO | 3,799.72% |
Recent News & Updates
Narrative Update • May 23
EVO: Rising Street Confidence And Dividend Pause Will Support Future Repricing
The analyst price target for Evolution edges higher to SEK 693, reflecting updated assumptions for slightly stronger revenue growth, a modestly higher future P/E, and a lower discount rate, partly balanced by more cautious profit margin expectations across recent Street research. Analyst Commentary Recent Street research around Evolution points to a mix of cautious and constructive views, with several bullish analysts highlighting potential for further value creation alongside more measured takes from others.
Narrative Update • May 09
EVO: Mixed Rating Changes And Dividend Pause Will Shape Risk Repricing
The analyst price target for Evolution has been adjusted slightly lower by SEK 15 to reflect mixed recent Street moves, with some firms trimming SEK 20 to SEK 60 from their targets while others raised or upgraded the stock. Analysts now balance higher revenue growth expectations with more cautious profit margin and P/E assumptions.Analysis Article • Apr 25
Evolution AB (publ) (STO:EVO) Just Released Its First-Quarter Earnings: Here's What Analysts Think
Evolution AB (publ) ( STO:EVO ) last week reported its latest quarterly results, which makes it a good time for...Narrative Update • Apr 23
EVO: Mixed Broker Moves And Dividend Pause Will Support Future Repricing
Analysts have trimmed their blended SEK price target on Evolution by about SEK 20, reflecting slightly higher discount rate assumptions. Revenue growth expectations remain unchanged, and views across recent reports are mixed between target cuts and modest increases.Narrative Update • Apr 08
EVO: Recent Upgrade And Dividend Pause Will Support Future Repricing
Analysts have trimmed Evolution's blended price target by about SEK 5. Slightly higher discount rate assumptions and modestly lower margin expectations offset broadly supportive views on long term growth and valuation multiples reflected in recent target cuts and one upgrade.Recent updates
Narrative Update • May 23
EVO: Rising Street Confidence And Dividend Pause Will Support Future Repricing
The analyst price target for Evolution edges higher to SEK 693, reflecting updated assumptions for slightly stronger revenue growth, a modestly higher future P/E, and a lower discount rate, partly balanced by more cautious profit margin expectations across recent Street research. Analyst Commentary Recent Street research around Evolution points to a mix of cautious and constructive views, with several bullish analysts highlighting potential for further value creation alongside more measured takes from others.Narrative Update • May 09
EVO: Mixed Rating Changes And Dividend Pause Will Shape Risk Repricing
The analyst price target for Evolution has been adjusted slightly lower by SEK 15 to reflect mixed recent Street moves, with some firms trimming SEK 20 to SEK 60 from their targets while others raised or upgraded the stock. Analysts now balance higher revenue growth expectations with more cautious profit margin and P/E assumptions.Analysis Article • Apr 25
Evolution AB (publ) (STO:EVO) Just Released Its First-Quarter Earnings: Here's What Analysts Think
Evolution AB (publ) ( STO:EVO ) last week reported its latest quarterly results, which makes it a good time for...Narrative Update • Apr 23
EVO: Mixed Broker Moves And Dividend Pause Will Support Future Repricing
Analysts have trimmed their blended SEK price target on Evolution by about SEK 20, reflecting slightly higher discount rate assumptions. Revenue growth expectations remain unchanged, and views across recent reports are mixed between target cuts and modest increases.Narrative Update • Apr 08
EVO: Recent Upgrade And Dividend Pause Will Support Future Repricing
Analysts have trimmed Evolution's blended price target by about SEK 5. Slightly higher discount rate assumptions and modestly lower margin expectations offset broadly supportive views on long term growth and valuation multiples reflected in recent target cuts and one upgrade.Narrative Update • Mar 25
EVO: Recent Discount Reset And Dividend Pause Will Support Future Repricing
The analyst fair value estimate for Evolution has been revised slightly higher. The implied price target has moved up by SEK 10, supported by refreshed assumptions on discount rate, revenue growth, profit margin and future P/E that reflect recent Street target cuts from Citi, Berenberg, Deutsche Bank and Morgan Stanley.Narrative Update • Mar 10
EVO: Recent Discount Rate Shift Will Set Up Repricing Opportunity
Analysts have slightly trimmed their SEK price targets on Evolution, reflecting a modestly higher discount rate and small tweaks to growth and margin assumptions. Several recent SEK 10 to SEK 73 target cuts from major houses have contributed to a more cautious blended view.Narrative Update • Feb 23
EVO: Recent Discount Rate Shifts Will Drive Repricing Opportunity Ahead
The updated analyst work implies a lower fair value for Evolution, with the price target moving from about SEK 1,003.76 to SEK 968.88. Analysts are factoring in recent target cuts from several banks, alongside revised assumptions on growth, margins and the appropriate discount rate.Narrative Update • Feb 09
EVO: Legal Dispute Will Drive Reset In Risk Premium And Repricing
Analysts have trimmed their price targets and fair value estimates for Evolution to about SEK 671 from roughly SEK 772, reflecting a higher discount rate and a lower assumed future P/E. Revenue growth and profit margin expectations remain relatively strong in recent research updates.Analysis Article • Feb 08
Evolution AB (publ) (STO:EVO) Just Released Its Annual Earnings: Here's What Analysts Think
Last week, you might have seen that Evolution AB (publ) ( STO:EVO ) released its annual result to the market. The early...Analysis Article • Jan 31
Earnings Working Against Evolution AB (publ)'s (STO:EVO) Share Price
Evolution AB (publ)'s ( STO:EVO ) price-to-earnings (or "P/E") ratio of 9.7x might make it look like a strong buy right...
Narrative Update • Jan 26
EVO: U.S. Legal Dispute Will Drive A More Cautious Outlook
Analysts have trimmed their price targets on Evolution, with our assessed fair value moving from SEK 567.38 to SEK 493.50. They cited lower revenue growth assumptions, modestly higher discount rate inputs and legal uncertainty highlighted in recent research, including the U.S. dispute referenced by Jefferies and a small SEK 10 target cut from Berenberg.Narrative Update • Jan 10
EVO: U.S. Legal Dispute And Downgrades Will Shape A More Cautious Outlook
Analysts have reduced their price targets for Evolution to SEK 630 from SEK 1,350 and to SEK 720 from a prior Buy level, citing uncertainty around the U.S. legal dispute with Playtech and adjusting fair value, discount rate, revenue growth, profit margin and future P/E assumptions accordingly. Analyst Commentary Recent research on Evolution points to a more cautious stance, with price targets reset meaningfully lower and ratings pulled back to Hold.Analysis Article • Dec 26
At kr621, Is Evolution AB (publ) (STO:EVO) Worth Looking At Closely?
Let's talk about the popular Evolution AB (publ) ( STO:EVO ). The company's shares saw significant share price movement...Narrative Update • Dec 24
EVO: Legal Dispute Will Drive Repricing Opportunity Despite Lowered Expectations
Analysts have cut their price target on Evolution to SEK 630 from SEK 1,350, citing increased legal uncertainty and expectations for structurally slower growth. These factors warrant lower forecast revenue expansion, slightly softer margins and a reduced future valuation multiple.Narrative Update • Dec 10
EVO: Legal Dispute Will Drive Medium Term Repricing Despite Solid Fundamentals
Analysts have modestly reduced their price target for Evolution to SEK 771.92 from SEK 776.59 as they factor in lawsuit related uncertainty and expectations for structurally slower growth compared with prior forecasts. Analyst Commentary Recent research updates on Evolution highlight a growing divergence in views, with several firms recalibrating ratings and price targets to reflect both legal uncertainties and a more tempered growth outlook.Narrative Update • Nov 26
EVO: Ongoing Legal Dispute Will Shape Medium-Term Market Sentiment
The analyst price target for Evolution has been reduced significantly, dropping from SEK 1,350 to SEK 630. Analysts cite uncertainty stemming from ongoing legal disputes and tempered growth expectations as contributing factors.Narrative Update • Nov 09
EVO: Future Profit Margins Will Drive Gains Despite Market Headwinds
The consensus analyst price target for Evolution AB has edged lower, declining by SEK 2.82 to reflect evolving views on future growth prospects and profit margins. Some downgrades cite a structurally slower growth outlook.Narrative Update • Oct 26
Sector Downgrades And Digital Shifts Will Shape Near-Term Opportunities
Analysts have revised their price target for Evolution AB downward from SEK 887.09 to SEK 817.27. This change reflects expectations for slower revenue growth and a slight dip in profit margin based on recent sector research.Narrative Update • Oct 12
New Studios And Digital Trends Will Unlock Future Potential
Analysts have lowered their fair value estimate for Evolution from SEK 907.31 to SEK 887.09. They cite slower expected revenue growth and a slightly reduced discount rate as key factors behind the updated outlook.Analysis Article • Sep 30
Lacklustre Performance Is Driving Evolution AB (publ)'s (STO:EVO) Low P/E
Evolution AB (publ)'s ( STO:EVO ) price-to-earnings (or "P/E") ratio of 12.1x might make it look like a buy right now...Narrative Update • Sep 12
New Studios And Digital Trends Will Unlock Future Potential
Driven primarily by a sharp increase in the Future P/E multiple while revenue growth forecasts remained stable, the consensus analyst price target for Evolution saw only a marginal decrease from SEK916.81 to SEK907.31. What's in the News Evolution entered the Rhode Island online casino market via a partnership with Bally's Corporation, achieving a presence in all seven US states that offer online casino gaming.Analysis Article • Sep 12
Why Evolution AB (publ) (STO:EVO) Could Be Worth Watching
Let's talk about the popular Evolution AB (publ) ( STO:EVO ). The company's shares saw a significant share price rise...New Narrative • May 01
New Studios And Digital Trends Will Unlock Future Potential
Key Takeaways Expansion into new regulated markets and studio launches positions Evolution for stable, long-term growth in digital and online gaming sectors. Exclusive partnerships and innovative game releases enhance product differentiation, driving higher margins and supporting sustained organic revenue expansion.New Narrative • Jan 20
Evolution to Navigate Market Risks with Strategic Growth Initiatives
Financial risk management: market risk (including currency risk and cash flow interest risk), credit risk and liquidity risk.New Narrative • Jan 19
King of the Live Casino
Evolution Gaming - King of the Live Casino Evolution Gaming is the leading B2B provider of live casino solutions. They power the online games you love! Think Roulette, Blackjack, and Baccarat.IntroduNew Narrative • Nov 29
A Compounding Machine
Evolution AB (EVO) stands out as a premier stock, delivering consistent and impressive growth in both revenue and EBIT, highlighting its strong financial health and operational excellence. The company
New Narrative • Nov 07
Expanding Horizons And Innovations Ignite Revenue Growth Despite Challenges
Expansion in the Americas and strategic releases in regulated markets could substantially drive revenue growth as these sectors mature.Shareholder Returns
| EVO | SE Hospitality | SE Market | |
|---|---|---|---|
| 7D | -0.5% | -0.9% | -1.6% |
| 1Y | 8.2% | 0.7% | 13.5% |
Return vs Industry: EVO exceeded the Swedish Hospitality industry which returned 0.7% over the past year.
Return vs Market: EVO underperformed the Swedish Market which returned 13.5% over the past year.
Price Volatility
| EVO volatility | |
|---|---|
| EVO Average Weekly Movement | 4.2% |
| Hospitality Industry Average Movement | 7.5% |
| Market Average Movement | 6.3% |
| 10% most volatile stocks in SE Market | 13.5% |
| 10% least volatile stocks in SE Market | 3.7% |
Stable Share Price: EVO has not had significant price volatility in the past 3 months compared to the Swedish market.
Volatility Over Time: EVO's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2006 | 16,714 | Martin Carlesund | www.evolution.com |
Evolution AB (publ) develops, produces, markets, and licenses live casino and slots solutions to gaming operators in Europe, Asia, North America, Latin America, and internationally. It offers casino and live games shows under the Evolution and Ezugi brands; online casino under the NetEnt brand name; and casino games and software comprising jackpot system, a smart spins bonus management application, and tournaments gamification under the Red Tiger brand. It also provides slots titles and game mechanics under the Big Time Gaming brand; online casino platform and games under the Nolimit City brand name; HD spinning gaming wheels under the DigiWheel brand; and B2B social streaming games under the Livespins brand name.
Evolution AB (publ) Fundamentals Summary
| EVO fundamental statistics | |
|---|---|
| Market cap | SEK 138.82b |
| Earnings (TTM) | SEK 11.43b |
| Revenue (TTM) | SEK 22.22b |
12.2x
P/E Ratio6.3x
P/S RatioIs EVO overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| EVO income statement (TTM) | |
|---|---|
| Revenue | €2.06b |
| Cost of Revenue | €0 |
| Gross Profit | €2.06b |
| Other Expenses | €999.28m |
| Earnings | €1.06b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
Jul 17, 2026
| Earnings per share (EPS) | 5.32 |
| Gross Margin | 100.00% |
| Net Profit Margin | 51.46% |
| Debt/Equity Ratio | 0% |
How did EVO perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/01 17:46 |
| End of Day Share Price | 2026/06/01 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Evolution AB (publ) is covered by 28 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| James Rowland Clark | Barclays |
| Pravin Gondhale | Barclays |