GDEV (GDEV)
Market Price (11/18/2025): $21.05 | Market Cap: $381.7 MilSector: Communication Services | Industry: Interactive Home Entertainment
GDEV (GDEV)
Market Price (11/18/2025): $21.05Market Cap: $381.7 MilSector: Communication ServicesIndustry: Interactive Home Entertainment
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 18%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13% | Weak multi-year price returns2Y Excs Rtn is -65%, 3Y Excs Rtn is -130% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.4% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% | High stock price volatilityVol 12M is 123% | |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30% | ||
| Megatrend and thematic driversMegatrends include Digital Content & Streaming. Themes include Gaming Content & Platforms. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 18%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming. Themes include Gaming Content & Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -65%, 3Y Excs Rtn is -130% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.4% |
| High stock price volatilityVol 12M is 123% |
Market Valuation & Key Metrics
GDEV Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Here are five key points highlighting why GDEV's stock moved by approximately 41.2% during the period from July 31, 2025, to November 18, 2025:
1. Strong Q2 2025 Financial Performance.
GDEV announced robust financial results for the second quarter of 2025 on September 2, 2025. The company reported a 13% year-over-year increase in revenue, reaching $120 million, and a 16% rise in net profit to $17 million. Additionally, Adjusted EBITDA grew by 30% to $22 million, with these figures surpassing analysts' consensus estimates for both earnings per share and revenue.
2. Strategic Partnership and Game Success.
On September 2, 2025, GDEV announced a strengthened strategic partnership with Royal Ark, which notably led to their game "Zombie Miner" achieving the top position in its genre. This success indicates strong operational performance and effective market penetration for a key title within GDEV's portfolio.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GDEV Return | - | -20% | -21% | -65% | -12% | 29% | -75% |
| Peers Return | 21% | -4% | -10% | 13% | 4% | -5% | 17% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 13% | 107% |
Monthly Win Rates [3] | |||||||
| GDEV Win Rate | 100% | 50% | 0% | 33% | 42% | 30% | |
| Peers Win Rate | 27% | 17% | 13% | 28% | 23% | 36% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| GDEV Max Drawdown | - | -35% | -21% | -67% | -18% | -41% | |
| Peers Max Drawdown | -7% | -9% | -13% | -2% | -5% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: CTW, EA, TTWO, DKI, GCL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 11/17/2025 (YTD)
How Low Can It Go
| Event | GDEV | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -80.7% | -25.4% |
| % Gain to Breakeven | 419.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -1.7% | -33.9% |
| % Gain to Breakeven | 1.7% | 51.3% |
| Time to Breakeven | 11 days | 148 days |
Compare to CTW, EA, TTWO, DKI, GCL
In The Past
GDEV's stock fell -80.7% during the 2022 Inflation Shock from a high on 1/26/2021. A -80.7% loss requires a 419.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Trade Ideas
Select past ideas related to GDEV. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -18.7% | -18.7% | -18.7% |
| 10032025 | CABO | Cable One | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -39.6% | -39.6% | -39.6% |
| 09122025 | DV | DoubleVerify | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -20.0% | -20.0% | -27.9% |
| 07312025 | CMCSA | Comcast | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -16.3% | -16.3% | -17.9% |
| 05312025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -14.4% | -14.4% | -17.2% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -18.7% | -18.7% | -18.7% |
| 10032025 | CABO | Cable One | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | -39.6% | -39.6% | -39.6% |
| 09122025 | DV | DoubleVerify | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -20.0% | -20.0% | -27.9% |
| 07312025 | CMCSA | Comcast | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -16.3% | -16.3% | -17.9% |
| 05312025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -14.4% | -14.4% | -17.2% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for GDEV
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 11.43 |
| Mkt Cap | 43.1 |
| Rev LTM | 6,220 |
| Op Inc LTM | 73 |
| FCF LTM | 928 |
| FCF 3Y Avg | 841 |
| CFO LTM | 1,115 |
| CFO 3Y Avg | 1,025 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.6% |
| Rev Chg 3Y Avg | 13.3% |
| Rev Chg Q | 4.4% |
| QoQ Delta Rev Chg LTM | 1.1% |
| Op Mgn LTM | 16.0% |
| Op Mgn 3Y Avg | 15.9% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 15.7% |
| CFO/Rev 3Y Avg | 13.5% |
| FCF/Rev LTM | 13.0% |
| FCF/Rev 3Y Avg | 10.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 43.1 |
| P/S | 6.9 |
| P/EBIT | 5.2 |
| P/E | 5.7 |
| P/CFO | 73.6 |
| Total Yield | 2.0% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.0% |
| D/E | 0.0 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.6% |
| 3M Rtn | 4.0% |
| 6M Rtn | -0.5% |
| 12M Rtn | 10.3% |
| 3Y Rtn | -2.0% |
| 1M Excs Rtn | -6.7% |
| 3M Excs Rtn | 1.4% |
| 6M Excs Rtn | -12.3% |
| 12M Excs Rtn | -1.6% |
| 3Y Excs Rtn | -70.8% |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 6302025 | 9022025 | 6-K 6/30/2025 |
| 12312024 | 3312025 | 20-F 12/31/2024 |
| 6302024 | 9042024 | 6-K 6/30/2024 |
| 12312023 | 4292024 | 20-F 12/31/2023 |
| 9302023 | 11212023 | 6-K 9/30/2023 |
| 6302023 | 9292023 | 6-K 6/30/2023 |
| 12312022 | 6262023 | 20-F 12/31/2022 |
| 9302022 | 12062022 | 6-K 9/30/2022 |
| 6302022 | 9282022 | 6-K 6/30/2022 |
| 3312022 | 8042022 | 6-K 3/31/2022 |
| 12312021 | 4292022 | 20-F 12/31/2021 |
| 9302021 | 11172021 | 6-K 9/30/2021 |
| 6302021 | 9222021 | 6-K 6/30/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |