OM:SF

Stock Analysis Report

Stillfront Group

Executive Summary

Stillfront Group AB (publ), through its subsidiaries, creates, publishes, and distributes digital games in Germany, the United States, France, the United Kingdom, and the Middle East and North Africa region.


Snowflake Analysis

Fair value with moderate growth potential.


Similar Companies

Share Price & News

How has Stillfront Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SF has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

9.1%

SF

10.6%

SE Entertainment

7.4%

SE Market


1 Year Return

95.2%

SF

22.5%

SE Entertainment

-8.2%

SE Market

Return vs Industry: SF exceeded the Swedish Entertainment industry which returned 22.5% over the past year.

Return vs Market: SF exceeded the Swedish Market which returned -8.2% over the past year.


Shareholder returns

SFIndustryMarket
7 Day9.1%10.6%7.4%
30 Day4.6%4.8%-14.3%
90 Day21.2%12.8%-19.4%
1 Year95.2%95.2%22.9%22.5%-5.5%-8.2%
3 Yearn/a112.8%38.1%4.9%-10.6%
5 Yearn/a-35.8%-71.3%11.9%-11.6%

Price Volatility Vs. Market

How volatile is Stillfront Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Stillfront Group undervalued compared to its fair value and its price relative to the market?

41.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SF (SEK443) is trading below our estimate of fair value (SEK750.37)

Significantly Below Fair Value: SF is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SF is good value based on its PE Ratio (33.1x) compared to the Entertainment industry average (65.6x).

PE vs Market: SF is poor value based on its PE Ratio (33.1x) compared to the Swedish market (14.9x).


Price to Earnings Growth Ratio

PEG Ratio: SF is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: SF is overvalued based on its PB Ratio (6x) compared to the SE Entertainment industry average (3.2x).


Next Steps

Future Growth

How is Stillfront Group forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

18.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SF's forecast earnings growth (18.1% per year) is above the savings rate (-0.4%).

Earnings vs Market: SF's earnings (18.1% per year) are forecast to grow faster than the Swedish market (7.9% per year).

High Growth Earnings: SF's earnings are forecast to grow, but not significantly.

Revenue vs Market: SF's revenue (13.8% per year) is forecast to grow faster than the Swedish market (4.1% per year).

High Growth Revenue: SF's revenue (13.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SF's Return on Equity is forecast to be low in 3 years time (16.7%).


Next Steps

Past Performance

How has Stillfront Group performed over the past 5 years?

116.7%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: SF has high quality earnings.

Growing Profit Margin: SF's current net profit margins (15.6%) are higher than last year (10.8%).


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if SF's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Insufficient data to compare SF's past year earnings growth to its 5-year average.

Earnings vs Industry: SF earnings growth over the past year (116.7%) exceeded the Entertainment industry -13.1%.


Return on Equity

High ROE: SF's Return on Equity (17.4%) is considered low.


Next Steps

Financial Health

How is Stillfront Group's financial position?


Financial Position Analysis

Short Term Liabilities: SF's short term assets (SEK593.0M) exceed its short term liabilities (SEK515.0M).

Long Term Liabilities: SF's short term assets (SEK593.0M) do not cover its long term liabilities (SEK1.6B).


Debt to Equity History and Analysis

Debt Level: SF's debt to equity ratio (55.4%) is considered high.

Reducing Debt: Insufficient data to determine if SF's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: SF's debt is well covered by operating cash flow (44.6%).

Interest Coverage: SF's interest payments on its debt are well covered by EBIT (8x coverage).


Balance Sheet

Inventory Level: SF has a low level of unsold assets or inventory.

Debt Coverage by Assets: SF's debt is not covered by short term assets (assets are 0.5x debt).


Next Steps

Dividend

What is Stillfront Group's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate SF's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate SF's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SF's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SF's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SF's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.8yrs

Average management tenure


CEO

Jörgen Larsson (55yo)

10.25s

Tenure

Mr. Jörgen Larsson has been Chief Executive Officer of Stillfront Group AB (publ) since 2010 and serves as its President. He is a Founder of GameRock AB and serves as its Chief Executive Officer. Mr. Larss ...


Leadership Team

NamePositionTenureCompensationOwnership
Jörgen Larsson
CEO & President10.25yrsno data0.54% SEK73.7m
Fabian Ritter
Co-Founder and Technical Directorno datano datano data
Andreas Uddman
Chief Financial Officer0.83yrno datano data
Alexis Bonte
Chief Operating Officer1yrno data0.33% SEK44.8m
Clayton Stark
Group Chief Technology Officer0.083yrno datano data
Sofia Wretman
Head of IR & Communicationsno datano datano data
Johanna Bergsten
General Counsel0.33yrno datano data
Marina Andersson
Head of M&A1.08yrsno data0.00050% SEK68.4k
Christian Kaul
Chief Commercial Officerno datano datano data
Phillip Knust
Group Chief Product Officer0.58yrno datano data

0.8yrs

Average Tenure

42yo

Average Age

Experienced Management: SF's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Erik Forsberg
Independent Director2.25yrsno data0.0049% SEK664.9k
Birgitta Henriksson
Independent Director3.25yrsno data0.0073% SEK997.3k
Katarina Bonde
Independent Director2.25yrsno datano data
Ulrika Viklund
Independent Director3.25yrsno datano data
Kai Wawrzinek
Director1.25yrsno datano data
Jan Samuelsson
Independent Chairman of the Boardno datano datano data

2.3yrs

Average Tenure

52yo

Average Age

Experienced Board: SF's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.5%.


Top Shareholders

Company Information

Stillfront Group AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Stillfront Group AB (publ)
  • Ticker: SF
  • Exchange: OM
  • Founded:
  • Industry: Interactive Home Entertainment
  • Sector: Media
  • Market Cap: kr13.681b
  • Shares outstanding: 30.88m
  • Website: https://www.stillfront.com

Number of Employees


Location

  • Stillfront Group AB (publ)
  • Hitech Building
  • 5th floor
  • Stockholm
  • Stockholm County
  • 111 57
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SFOM (OMX Nordic Exchange Stockholm)YesOrdinary SharesSESEKJan 2018
1YSDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 2018
0A2ALSE (London Stock Exchange)YesOrdinary SharesGBSEKJan 2018

Biography

Stillfront Group AB (publ), through its subsidiaries, creates, publishes, and distributes digital games in Germany, the United States, France, the United Kingdom, and the Middle East and North Africa region. Its games portfolio include Call of War, a browser based World War II strategy game; Conflict of Nations: Modern War, a browser based strategy game; eRepublik, a browser based multiplayer online game; Gemstone IV and Dragonrealms, a browser based fantasy games; Goodgame: Big Farm, an online farming strategy game; Goodgame: Big Farm: Mobile Harvest, an online farming strategy game for mobile; Goodgame: EMPIRE, an online strategy game for browser; Goodgame: EMPIRE: Four Kingdoms, an online strategy game for browser. The company’s games portfolio also include Imperia Online, a browser based multiplayer online real-time strategy game; ManagerZone Football & Hockey, a mobile and browser based sports management games; Nida Harb II, a mobile war strategy game; Online Fussball Manager, a sports management game; SIEGE: World War II, a mobile war strategy game; Supremacy 1914, a browser based World War I strategy game; Tank Storm, a mobile war strategy game; Unravel, a puzzle/strategy platform game for console and PC; War and Peace: Civil War, a mobile war strategy game; and World at War, a mobile war strategy game. The company is headquartered in Stockholm, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 02:26
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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 here.