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GDEVGDEV Inc.
$10.90$198M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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GDEV logo

GDEV Inc.

GDEV
NASDAQ · Gaming & Multimedia
$10.90
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$198M
P/E2.9x
52W High$42.20
Volume434
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2025Q4

Flagship Title Maturity Challenges Structural Equity Position

GDEV faces a challenging outlook as its flagship title struggles with a 7.7% year-over-year revenue contraction in 2025Q4, signaling potential exhaustion in its core user acquisition model. While the company maintains high gross margins near 63.3%, the persist...

GrowthContracting
ProfitabilityModerate
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

GDEV price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

5/12 Beats

EPS beat 5 of last 12 quarters

02

Valuation risk

-92% Peers

P/E is 92% below peer median

03

Market leadership

RS 23 · Lag

Laggard (Underperforming 77% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 13

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
GDEV-26.50%
S&P 500 (^GSPC)+13.20%
1-Year Return
GDEV-65.41%
S&P 500 (^GSPC)+15.98%
3-Year Return
GDEV-42.47%
S&P 500 (^GSPC)+64.67%
5-Year Return
GDEV-81.30%
S&P 500 (^GSPC)+89.66%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
2.9x
Forward P/EExpansion
2.4x
EV/EBITDA0th %ile
1.8x
FCF YieldCash Flow
14.7%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
2.9x
14.0x
0th· Low
EV/EBITDA
1.8x
8.4x
0th· Low
Price/FCF
6.8x
12.7x
0th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue
$404M-3.9% YoY
Net income
$69M+171.5% YoY
Free cash flow
$29M+3.7% YoY
Operating margin
17.6%+8.0 pts YoY
ROIC (TTM)-
Avg ROIC 5Y-
ROE (TTM)-
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate5/12 (50%)
Revenue Beat Rate6/12 (60%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 21, 2026
$1.08+0.0%
vs $1.08
$94M+0.0%
vs $94M
Q2 2026
May 19, 2026
$0.67+0.0%
vs $0.67
$92M+0.0%
vs $92M
Q2 2026
Mar 5, 2026
$0.65-18.8%
vs $0.80
$90M-6.1%
vs $96M
Q4 2025
Nov 24, 2025
$1.32+214.3%
vs $0.42
$98M+1.1%
vs $97M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·Aug 31, 2026
GDEV announces commencement of self tender offer to purchase for cash up to $20,000,000 in value of its ordinary shares (or up to 1,813,236 Ordinary Shares) at a purchase price of $11.03 per ordinary share

LIMASSOL, Cyprus, Aug. 31, 2026 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today announced the commencement of a tender offer by the Company to purchase for cash up to $20,000,000 in value of its ordinary shares, no par value per ordinary share (each, a “share”), or up to 1,813,236 shares, at a purchase price of $11.03 per share, equivalent to the trailing volume weighted average price per share over the 10 trading days prior to August 28, 2026, the last full trading day prior to the commencement of the Offer, net to the seller in cash, without interest, less any applicable withholding taxes, using funds available from cash and cash equivalents. The tender offer, proration period and withdrawal rights will expire at 5:00 p.m.

Seeking Alpha·Aug 28, 2026
GDEV Inc. (GDEV) Shareholder/Analyst Call Prepared Remarks Transcript

GDEV Inc. (GDEV) Shareholder/Analyst Call Prepared Remarks Transcript

Zacks Investment Research·Aug 24, 2026
3 Gaming Stocks Worth Buying Despite Industry Headwinds

GameSquare, Corsair Gaming and GDEV show resilience through growth, cost discipline and strong demand despite gaming industry headwinds.

GlobeNewsWire·Aug 21, 2026
GDEV announces results for the second quarter and first half of 2026

LIMASSOL, Cyprus, Aug. 21, 2026 (GLOBE NEWSWIRE) -- GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”) released its unaudited financial and operational results for the second quarter and first half-year ended June 30, 2026. Second quarter 2026 financial highlights: Revenue of $94 million decreased by 22% year-over-year.

Filtered for GDEV Inc.More Headlines
04

Compare before deciding

Benchmark GDEV against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for GDEV Inc. (GDEV)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
GDEV logoGDEVGDEV Inc.Current
$10.90$197.84M2.89-3.94%17.15%—28.33%
PLBY logoPLBYPlayboy, Inc.
$1.10$127.56M-8.464.13%0.23%1.44%—
GRVY logoGRVYGravity Co., Ltd.
$68.68$477.25M9.5911.92%13.11%9.3%—
PLTK logoPLTKPlaytika Holding Corp.
$2.32$882.48M-4.228.08%-9.89%——
GLBE logoGLBEGlobal-e Online Ltd.
$41.55$6.98B106.5427.82%13.87%16.7%—
HUYA logoHUYAHUYA Inc.
$2.37$542.5M-33.076.96%-1.6%-2.29%—

Compare GDEV vs Peers

GDEV Inc. (GDEV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PLBY

Most directly comparable listed peer for GDEV.

Scale Benchmark

vs NVDA

Larger-name benchmark to compare GDEV against a more recognizable public peer.

Peer Set

Compare Top 5

vs PLBY, GRVY, PLTK, GLBE

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GDEV Frequently Asked Questions

GDEV Inc. (GDEV) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is GDEV Inc.'s revenue?

GDEV Inc. (GDEV) reported $401.1M in revenue for fiscal year 2025. This represents a 328% increase from $93.8M in 2019.

How fast is GDEV Inc. growing?

GDEV Inc. (GDEV) saw revenue decline by 3.9% over the past year.

Is GDEV profitable?

Yes, GDEV Inc. (GDEV) is profitable, generating $74.7M in net income for fiscal year 2025 (17.1% net margin).

Dividend & Returns
Does GDEV pay dividends?

Yes, GDEV Inc. (GDEV) pays a dividend with a yield of 28.33%. This makes it attractive for income-focused investors.

What is GDEV Inc.'s free cash flow?

GDEV Inc. (GDEV) generated $32.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in GDEV back in 2019?

Total return calculator · dividends reinvested · 7+ years of data

See returns →