Qiiwi Games is a small Swedish developer and publisher of mobile and casual games, with a market capitalisation of about 43M SEK and no index membership. Revenue growth of 98.5% alongside an 85.5% gross margin points to a digital business where each additional sale costs little to deliver, and the question is whether that operating leverage shows up in the bottom line. The operating margin is still slightly negative at -1.1%, and ROE of -20.5% shows the company has not yet earned back its equity, so the case rests on scaling revenue faster than costs. At this size and with no earnings or forward multiple to anchor a valuation, the stock is illiquid and carries a wide range of outcomes. It merits a deeper look mainly to test whether the revenue growth is durable and whether margins are turning positive, not on the strength of the current numbers alone.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:52 CEST | ACCE price target | kr 4.70 | first publication | kr 4.68 |
Answered from Qiiwi Games AB (publ) fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| QIIWI.ST Qiiwi Games AB (publ) | kr 4.69 | - | - | - | -20.5% | 34 | 54 |
| FRAG.ST Fragbite Group AB (publ) | kr 6.32 | - | - | 0.9x | 218.4% | 75 | 41 |
| 2022.HK Digital Hollywood Interactive Limited | HK$0.04 | - | - | - | -25.3% | 43 | 31 |
| EMB.ST EMB Mission Bound AB (publ) | kr 0.56 | - | - | 11.2x | 31.6% | 86 | 58 |
| STAR-A.ST Starbreeze AB (publ) | kr 0.13 | - | - | - | -126.6% | 31 | 35 |
| MAGI.ST MAG Interactive AB (publ) | kr 9.46 | - | - | 236.5x | -3.3% | 43 | 56 |
| MYPS PLAYSTUDIOS Inc. Class A Common Stock | $3.80 | - | - | - | -20.6% | 47 | 55 |
Where QIIWI.ST ranks against its sector peers on each metric.