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.
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.
Nacon S.A. is a French company specializing in the design, development, publishing, and distribution of video games and gaming accessories. Founded in 2019 as a subsidiary of Bigben Interactive SA and headquartered in Fretin, France, it operates as a pure-play entity in the video gaming sector, leveraging over 40 years of group experience. The company produces a wide array of premium accessories, including console controllers, headsets, microphones, keyboards, mice, RIG systems, audio solutions, USB and optical cables, car adapters, rechargeable batteries, charging stations, and other console peripherals, distributed internationally. Nacon S.A. also publishes video games across genres such as action-adventure, racing, sports, and simulation, targeting the growing 'AA' segment with titles selling 0.2 to 3 million copies and budgets of €1-20 million. This niche focuses on less competitive markets, supporting rapid expansion through studio acquisitions, proprietary content creation, licensed titles, and international growth via digital platforms. Led by Chairman and CEO Alain Falc, Nacon S.A. plays a key role in enhancing gamer experiences worldwide.
The business is unprofitable at the operating level (-1.36% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue growth slowed to 0.1%, essentially flat. Margins also contracted 3.8pp. This is a business that needs a catalyst.
Negative free cash flow of -€15M. The business is consuming cash, not generating it. Operating margin contracted 3.8pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
€168M
▲ +0.1% YoY
Net Income (TTM)
-€1M
▼ -107.7% YoY
Op. Margin
-1.36%
▼ -3.8pp YoY
ROIC
-0.43%
▼ -1.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€15M
▼ -99.2% YoY
Op. Cash Flow (TTM)
€7M
▼ -73.6% YoY
Net Debt
€120M
Cash & Equiv.
€29M
3Y CAGR: +2.5%
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