Latest Ratios: P/E Ratio 14.0x · EV/EBITDA 8.2x · ROE 31.5%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.8B | $6.1B | $3.1B | $1.6B | $1.5B | $558M | $4.9B | — |
| Enterprise Value | $5.3B | $5.6B | $2.8B | $1.3B | $1.2B | $248M | $5.0B | — |
| P/E Ratio → | 13.97 | 27.79 | 28.32 | — | 8.11 | 2.27 | 40.48 | — |
| P/S Ratio | 2.32 | 2.72 | 1.85 | 1.10 | 1.06 | 0.37 | 5.44 | — |
| P/B Ratio | 7.20 | 7.58 | 5.43 | 2.65 | 2.56 | 0.96 | 56.99 | — |
| P/FCF | 14.80 | 18.62 | 15.72 | 19.92 | 10.55 | 3.05 | 35.50 | — |
| P/OCF | 15.73 | 16.54 | 10.63 | 11.89 | 8.81 | 2.66 | 32.66 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.52 | 1.66 | 0.94 | 0.88 | 0.17 | 5.54 | — |
| EV / EBITDA | 8.16 | 15.35 | 8.28 | 8.55 | 7.71 | 0.80 | 27.80 | — |
| EV / EBIT | 12.55 | 15.35 | 14.58 | 68.92 | 5.21 | 0.94 | 31.29 | — |
| EV / FCF | — | 17.28 | 14.14 | 16.95 | 8.73 | 1.35 | 36.11 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.2% | 27.2% | 49.6% | 46.4% | 50.7% | 58.6% | 59.7% | 51.6% |
| Operating Margin | 19.0% | 19.0% | 15.5% | 5.2% | 6.5% | 15.1% | 13.8% | -11.6% |
| Net Profit Margin | 9.7% | 9.7% | 6.7% | -0.7% | 14.0% | 17.9% | 16.4% | -3.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 31.5% | 31.5% | 19.3% | -1.8% | 33.7% | 79.9% | 2379.5% | — |
| ROA | 18.4% | 18.4% | 10.5% | -1.1% | 20.5% | 32.8% | 29.3% | -5.2% |
| ROIC | 101.7% | 101.7% | 63.3% | 16.5% | 23.0% | 76.1% | 90.6% | -114.7% |
| ROCE | 55.4% | 55.4% | 41.2% | 12.1% | 14.9% | 60.4% | 293.1% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.10 | 0.10 | 0.13 | 0.05 | 0.03 | 0.04 | 3.10 | — |
| Debt / EBITDA | 0.22 | 0.22 | 0.21 | 0.21 | 0.13 | 0.07 | 1.49 | — |
| Net Debt / Equity | — | -0.55 | -0.54 | -0.39 | -0.44 | -0.53 | 0.98 | — |
| Net Debt / EBITDA | -1.19 | -1.19 | -0.92 | -1.50 | -1.61 | -1.01 | 0.47 | — |
| Debt / FCF | — | -1.34 | -1.58 | -2.96 | -1.82 | -1.69 | 0.61 | 574.88 |
| Interest Coverage | 33.36 | 33.36 | 31.85 | 7.16 | 173.70 | 41.29 | 14.62 | -1.28 |
Net cash position: cash ($519M) exceeds total debt ($81M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.94 | 1.94 | 1.25 | 1.26 | 1.82 | 1.81 | 0.60 | 0.38 |
| Quick Ratio | 1.94 | 1.94 | 1.25 | 1.26 | 1.82 | 1.81 | 0.60 | 0.38 |
| Cash Ratio | 1.36 | 1.36 | 0.90 | 0.62 | 0.83 | 0.95 | 0.34 | 0.19 |
| Asset Turnover | — | 1.76 | 1.55 | 1.35 | 1.47 | 1.56 | 1.35 | 1.39 |
| Inventory Turnover | — | — | — | — | 7261.96 | 13655.50 | — | — |
| Days Sales Outstanding | — | 18.32 | 16.86 | 33.74 | 33.65 | 43.97 | 40.49 | 12.22 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.7% | 2.6% | 1.5% | — | — | — | 0.2% | — |
| Payout Ratio | 71.9% | 71.9% | 40.8% | — | — | — | 6.7% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.2% | 3.6% | 3.5% | — | 12.3% | 44.1% | 2.5% | — |
| FCF Yield | 6.8% | 5.4% | 6.4% | 5.0% | 9.5% | 32.8% | 2.8% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.2% | 15.3% | 1.9% | 0.0% | — |
| Total Shareholder Yield | 2.7% | 2.6% | 1.5% | 0.2% | 15.3% | 1.9% | 0.2% | — |
| Shares Outstanding | — | $508M | $504M | $498M | $490M | $56M | $488M | $54M |
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying SGHC stock.
Super Group (SGHC) Limited's current P/E ratio is 14.0x. The historical average is 21.4x. This places it at the 40th percentile of its historical range.
Super Group (SGHC) Limited's current EV/EBITDA is 8.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.4x.
Super Group (SGHC) Limited's return on equity (ROE) is 31.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 32.5%.
Based on historical data, Super Group (SGHC) Limited is trading at a P/E of 14.0x. This is at the 40th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Super Group (SGHC) Limited's current dividend yield is 2.70% with a payout ratio of 71.9%.
Super Group (SGHC) Limited has 27.2% gross margin and 19.0% operating margin. Operating margin between 10-20% is typical for established companies.
Super Group (SGHC) Limited's Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Regulatory and competitive pressures
Margin Expansion Reflects Mix Shift
Gross margin expanded to 32.3% in Q2 2026 from 29.2% a year earlier, while operating margin reached 25.0%, according to recent financial statements, indicating a favorable shift toward higher-margin iGaming revenue.
The sequential improvement in gross margin from 27.8% in Q1 2026 to 32.3% in Q2 2026 suggests that the company is increasingly leveraging its proprietary platform, reducing third-party licensing costs. Operating margin of 25.0% in Q2 2026 is well above the TTM average of 19.0%, implying that the recent revenue acceleration is flowing through to the bottom line at an increasing rate. This margin profile is superior to most global peers, with Flutter and DraftKings still reporting negative operating margins, underscoring SGHC's operational efficiency.
ROIC Surges on Asset-Light Model
ROIC jumped to 32.2% in Q2 2026 from 25.8% a year earlier, as reported in quarterly data, reflecting a low capital intensity and efficient deployment of invested capital, with ROE at 31.5%.
The sharp rise in ROIC from 21.6% in Q1 2026 to 32.2% in Q2 2026 indicates that the company is compounding returns on a relatively small capital base, driven by margin expansion rather than asset turnover. With asset turnover of only 0.53x, the high ROIC is primarily a function of a 17.5% net margin, highlighting the profitability of each dollar of revenue. This level of return is exceptional compared to peers like Flutter (ROIC 2.4%) and MGM (1.7%), suggesting that SGHC's capital allocation is creating significant shareholder value.
Working Capital Efficiency Improves
DSO improved to 29 days in Q2 2026 from 33 days a year earlier, while DPO rose to 50 days, according to the latest quarterly data, indicating better cash collection and supplier payment terms.
The reduction in DSO from 33 days in Q3 2025 to 29 days in Q2 2026 suggests that the company is collecting receivables more quickly, likely due to improved payment processing in emerging markets. The increase in DPO from 49 days to 50 days over the same period indicates that SGHC is extending its payment terms with suppliers, which helps preserve cash. Although inventory data is unavailable, the negative DPO in Q4 2024 ( -118 days) was an anomaly, and the current trend points to a more stable working capital cycle.
Minimal Leverage Provides Strategic Flexibility
Debt-to-equity remains remarkably low at 0.13 in Q2 2026, with interest coverage of 21.4x, according to recent balance sheet data, indicating a fortress balance sheet that supports aggressive growth initiatives.
With total debt of $107 million against $832 million in equity, SGHC's leverage is negligible compared to peers like Flutter (D/E 1.38) and MGM (17.14), giving it a significant competitive advantage in funding expansion or weathering downturns. Interest coverage of 21.4x in Q2 2026, though down from 31.5x in Q1, remains exceptionally comfortable, suggesting that debt service is not a constraint. The low D/EBITDA of 0.54x further underscores the company's ability to take on additional leverage if needed, though the current conservative stance appears deliberate.
Liquidity Buffer Strengthens to Support Expansion
Current ratio improved to 1.83 in Q2 2026 from 1.25 in Q4 2024, with cash of $548 million covering over 5x total debt, according to recent SEC filings, indicating a robust liquidity position.
The current ratio of 1.83, with a quick ratio of 1.83 (since inventory is negligible), suggests that SGHC can comfortably meet its short-term obligations even under stress. The substantial cash balance of $548 million, which represents over 5x total debt, provides a significant buffer against regulatory shocks or market downturns. This liquidity strength is particularly important given the company's exposure to emerging markets, where payment disruptions could occur, but the current position appears more than adequate.
P/E Misleads on Growth Potential
The trailing P/E of 30.35 appears elevated, but forward P/E of 17.79 and PEG of 2.65, based on reported figures, suggest the market is pricing in significant earnings growth, making P/E alone misleading.
The most commonly misapplied ratio for SGHC is the trailing P/E, which fails to capture the company's accelerating growth and margin expansion. With a forward P/E of 17.79, the market is implying that earnings will grow substantially, and the PEG of 2.65, while above 1, does not fully reflect the operating leverage that is driving margin expansion. Investors should instead focus on EV/EBITDA (16.88) and P/FCF (20.34) to better assess valuation, as these metrics account for the company's low capital intensity and strong cash generation. The market's skepticism about emerging market durability may be overdone, given the company's consistent cash flow and balance sheet strength.