Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Hacksaw AB (publ) is a B2B technology platform and game development company specializing in the iGaming sector. It develops and distributes innovative games, including digital slots, scratch cards, and instant win games, tailored for private and state-owned online gaming operators worldwide. The company operates a scalable, modular Remote Gaming Server (RGS) platform built on a modern code base, facilitating rapid game development and seamless distribution. A standout feature is the OpenRGS partnership program, which offers third-party developers comprehensive support in licensing, infrastructure, compliance, certification, and commercial access to Hacksaw's extensive operator network, allowing partners to prioritize content creation. Founded in 2017 and headquartered in Stockholm, Sweden, with operations also in the Czech Republic, Hacksaw AB employs around 141 people and serves as a key supplier across the iGaming value chain. Led by Group CEO Christoffer Kallberg, the firm continues to expand into new jurisdictions, solidifying its role in advancing iGaming technology and content distribution.
€6.92
€0.02 (-0.22%)
EOD Jun 23, 2026 · Twelve Data
Margins and capital returns are both well above average: 79.76% operating margin, ROIC at 111.04%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 55.5%, still solid. Margins contracted 4.4pp, which offsets some of the top-line progress.
ROIC dropped from 123.66% to 111.04%, capital efficiency is deteriorating. Operating margin contracted 4.4pp YoY, cost discipline may be slipping.
1.1x earnings, 1.2x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€210M
▲ +55.5% YoY
Net Income (TTM)
€158M
▲ +40.6% YoY
Op. Margin
79.94%
▼ -4.4pp YoY
ROIC
111.04%
▼ -12.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€147M
▲ +61.4% YoY
Op. Cash Flow (TTM)
€154M
▲ +63.7% YoY
Net Debt
-€130M
Net Cash Position
Cash & Equiv.
€133M
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At a P/E of 1.1 and a price-to-free-cash-flow of 1.2, Hacksaw AB (publ) (HACK.XSTO) trades below a two-stage DCF intrinsic value of about €26.11 per share, so at €6.93 the stock looks undervalued (277.1% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Hacksaw AB (publ) scores 85/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 58.9%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about €26.11 per share for HACK.XSTO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around €19.58. At today's €6.93, that puts the stock about 277.1% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Hacksaw AB (publ) scores 85 out of 100 on Intrinsiqq's quality score, passing 7 of 8 checks, which makes it a high-quality business on these measures. Recent fundamentals include a 79.9% operating margin and a 111.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full check-by-check breakdown is on the quality scorecard.
Yes, Hacksaw AB (publ) pays a regular dividend of about €0.37 per share per year (typically in quarterly installments), a yield of roughly 58.9% at the current price. That is a payout ratio of about 67.2% of earnings, so the dividend is covered, with less cushion. Hacksaw AB (publ) has grown the dividend at roughly 122.8% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For HACK.XSTO's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. HACK.XSTO currently trades below its estimated intrinsic value and scores 85/100 on quality (high-quality). It also yields about 58.9%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.