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Swedish developer of online casino slot games licensed to gambling operators worldwide.
Swedish developer of online casino slot games licensed to gambling operators worldwide.
In one line: A slot-game content studio like a smaller NetEnt/Play'n GO peer.
Moat: narrow (IP / patents, brand, distribution). Portfolio of proprietary, popular slot titles licensed broadly, but game-studio competition is intense with frequent new entrants.
Headquarters: Stockholm, Sweden · Founded: 2018 · Employees: 254
Size Hacksaw (HACK.ST) is a Sweden Information Technology company (Packaged Software) with a market value of $1.71B, the 95th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 57.85 on 6 Nov 2026.
Performance Over six months the shares fell 22.4%, against -4.7% for the median peer and +8.2% for the Sweden market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 20.6% over the last twelve months (peer median +17.3%); the operating margin is 81.8% (peer median 9.2%).
Valuation It trades at 8.1× forward earnings against a peer median of 30.3× (2nd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +86%, so the hurdle is -96 pp: the price already allows for a slowdown.
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 2.51B | SEK 2.18B | SEK 1.56B | SEK 766M | SEK 340M |
| Revenue growth | — | +40% | +104% | +125% | — |
| Gross profit | SEK 2.05B | SEK 1.79B | SEK 1.32B | SEK 634M | SEK 271M |
| EBITDA | SEK 2.11B | SEK 1.84B | SEK 1.35B | SEK 653M | SEK 281M |
| Net income | SEK 1.95B | SEK 1.48B | SEK 1.06B | SEK 571M | SEK 152M |
| Free cash flow | SEK 2.06B | SEK 1.68B | SEK 1.15B | SEK 584M | SEK 260M |
| Capital expenditure | SEK 121M | SEK 80.4M | SEK 46.6M | SEK 23.7M | SEK 27.4M |
| Total debt | SEK 62.9M | SEK 29.0M | SEK 33.3M | SEK 18.8M | SEK 4.30M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hacksaw HACK.ST | $1.71B | -22% | +21% | 82% | 8.1× | -10.2% |
| Evolution EVO.ST | $15.8B | +33% | -3% | 57% | 14.4× | -0.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HACK.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.0% | +5.6% | 2nd lowest of 21 |
| 6-month return | -22.4% | -4.7% | 7th lowest of 20 |
| Distance from 52-week high | -38.7% | -26.6% | 7th lowest of 21 |
| Revenue growth (TTM) | +20.6% | +17.3% | 10th highest of 21 |
| Operating margin | 81.8% | 9.2% | highest of 21 |
| Forward P/E | 8.1× | 30.3× | 2nd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -10.2% | 15.8% | least demanding of 14 |
| Growth delivered (Del g) | +85.9% | +14.3% | highest of 13 |
| Hurdle (Req g minus delivered) | -96.1 pp | +0.8 pp | least demanding of 13 |
| EV / EBITDA | 7.2× | 21.0× | cheapest of 11 |
| Net debt / EBITDA | -0.8× | -1.1× | 6th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hacksaw HACK.ST | Sweden | $1.71B | -22% | +21% | 82% | 8.1× | -10.2% | +85.9% |
| Adeia ADEA | United States | $1.71B | -47% | +22% | 44% | 11.8× | 2.7% | -13.0% |
| TRS Information Technology 300229.SZ | China | $1.71B | -27% | -23% | -76% | n/a | n/a | n/a |
| Hangzhou Shunwang Technology 300113.SZ | China | $1.70B | -32% | -36% | 26% | 27.1× | 26.2% | +11.0% |
| freee K.K 4478.T | Japan | $1.72B | +100% | +28% | 3% | 79.1× | n/a | n/a |
| Lyntris LYNX | United States | $1.69B | n/a | +16% | 9% | n/a | n/a | n/a |
| Kfin Technologies KFINTECH.NS | India | $1.67B | -1% | +27% | 32% | 40.6× | n/a | n/a |
| Wuhan Dameng Database 688692.SS | China | $1.75B | -28% | +28% | 28% | 33.4× | 12.7% | +23.2% |
| Beijing Haizhi Technology 2706.HK | Hong Kong | $1.75B | -31% | +23% | -9% | 208.5× | n/a | n/a |
| Sansan 4443.T | Japan | $1.67B | +65% | +22% | 18% | 27.4× | 20.3% | +27.1% |
| Wealthfront WLTH | United States | $1.66B | -7% | +18% | -41% | 26.7× | -4.2% | n/a |
| Sinosoft 603927.SS | China | $1.77B | -14% | -24% | 2% | 44.3× | 23.0% | +0.9% |
| Progress Software PRGS | United States | $1.78B | +46% | +6% | 19% | 6.7× | 1.8% | +17.2% |
| Nayax NYAX | United States | $1.78B | -34% | +28% | 5% | 59.1× | 26.9% | +38.7% |
| Donnelley Financial Solutions DFIN | United States | $1.63B | +56% | +5% | 20% | 12.3× | -4.7% | -3.0% |
| Shadowfax Technologies SHADOWFAX.NS | India | $1.79B | +70% | +69% | 10% | 60.0× | 47.0% | +43.7% |
| Newborn Town 9911.HK | Hong Kong | $1.63B | -5% | +36% | 12% | 8.8× | -3.5% | +41.3% |
| Nazara Technologies NAZARA.NS | India | $1.62B | +50% | -2% | 3% | 138.0× | n/a | n/a |
| YOOZOO Interactive 002174.SZ | China | $1.61B | +9% | -1% | -20% | 24.7× | n/a | n/a |
| Weaver Network Technology 603039.SS | China | $1.59B | -8% | +2% | 12% | 29.1× | 15.8% | +9.0% |
| Certara CERT | United States | $1.84B | +91% | +1% | 5% | 31.4× | 40.7% | +11.5% |