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Nexters Valuation Multiples
Discover revenue and EBITDA valuation multiples for Nexters and similar public comparables like Neowiz, Zengame Technology, Boyaa Interactive, Akatsuki and more.
Nexters Overview
About Nexters
GDEV Inc is a gaming and entertainment holding company that oversees a portfolio of studios focused on developing and publishing live-service games across a range of platforms and genres. Its portfolio includes studios specializing in mobile, browser, and PC games, as well as captivating IPs spanning various genres.
Founded
2021
HQ
Employees
839
Website
Sectors
Financials (LTM)
EV
$203M
Nexters Financials
Nexters reported last 12-month revenue of $412M and EBITDA of $86M.
In the same LTM period, Nexters generated $269M in gross profit, $86M in EBITDA, and $74M in net income.
Revenue (LTM)
Nexters P&L
In the most recent fiscal year, Nexters reported revenue of $405M and EBITDA of $82M.
Nexters expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $412M | XXX | $405M | XXX | XXX | XXX |
| Gross Profit | $269M | XXX | $263M | XXX | XXX | XXX |
| Gross Margin | 65% | XXX | 65% | XXX | XXX | XXX |
| EBITDA | $86M | XXX | $82M | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 20% | XXX | XXX | XXX |
| EBIT Margin | 19% | XXX | 18% | XXX | XXX | XXX |
| Net Profit | $74M | XXX | $69M | XXX | XXX | XXX |
| Net Margin | 18% | XXX | 17% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Nexters Stock Performance
Nexters has current market cap of $306M, and enterprise value of $203M.
Market Cap Evolution
Nexters' stock price is $16.87.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $203M | $306M | 0.0% | XXX | XXX | XXX | $3.82 |
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Start Free TrialNexters Valuation Multiples
Nexters trades at 0.5x EV/Revenue multiple, and 2.4x EV/EBITDA.
EV / Revenue (LTM)
Nexters Financial Valuation Multiples
As of April 19, 2026, Nexters has market cap of $306M and EV of $203M.
Equity research analysts estimate Nexters' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Nexters has a P/E ratio of 4.1x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $306M | XXX | $306M | XXX | XXX | XXX |
| EV (current) | $203M | XXX | $203M | XXX | XXX | XXX |
| EV/Revenue | 0.5x | XXX | 0.5x | XXX | XXX | XXX |
| EV/EBITDA | 2.4x | XXX | 2.5x | XXX | XXX | XXX |
| EV/EBIT | 2.6x | XXX | 2.9x | XXX | XXX | XXX |
| EV/Gross Profit | 0.8x | XXX | 0.8x | XXX | XXX | XXX |
| P/E | 4.1x | XXX | 4.4x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 7.0x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Nexters Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Nexters Margins & Growth Rates
Nexters' revenue in the last 12 month grew by 7%.
Nexters' revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.2M for the same period.
Nexters' rule of 40 is 31% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Nexters' rule of X is 39% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Nexters Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | 6% | XXX | XXX | XXX |
| EBITDA Margin | 21% | XXX | 20% | XXX | XXX | XXX |
| EBITDA Growth | 29% | XXX | 30% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 31% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 39% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 38% | XXX | 39% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 8% | XXX | 8% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 47% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Nexters Public Comps
See public comps and valuation multiples for other Gaming - Mobile comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Nexters | XXX | XXX | XXX | XXX | XXX | XXX |
| Neowiz | XXX | XXX | XXX | XXX | XXX | XXX |
| Zengame Technology | XXX | XXX | XXX | XXX | XXX | XXX |
| Boyaa Interactive | XXX | XXX | XXX | XXX | XXX | XXX |
| Akatsuki | XXX | XXX | XXX | XXX | XXX | XXX |
| Huuuge | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Nexters M&A Activity
Nexters acquired XXX companies to date.
Last acquisition by Nexters was on XXXXXXXX, XXXXX. Nexters acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Nexters
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialNexters Investment Activity
Nexters invested in XXX companies to date.
Nexters made its latest investment on XXXXXXXX, XXXXX. Nexters invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Nexters
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Nexters
| When was Nexters founded? | Nexters was founded in 2021. |
| Where is Nexters headquartered? | Nexters is headquartered in United States. |
| How many employees does Nexters have? | As of today, Nexters has over 839 employees. |
| Who is the CEO of Nexters? | Nexters' CEO is Andrey Fadeev. |
| Is Nexters publicly listed? | Yes, Nexters is a public company listed on Nasdaq. |
| What is the stock symbol of Nexters? | Nexters trades under GDEV ticker. |
| When did Nexters go public? | Nexters went public in 2021. |
| Who are competitors of Nexters? | Nexters main competitors are Neowiz, Zengame Technology, Boyaa Interactive, Akatsuki. |
| What is the current market cap of Nexters? | Nexters' current market cap is $306M. |
| What is the current revenue of Nexters? | Nexters' last 12 months revenue is $412M. |
| What is the current revenue growth of Nexters? | Nexters revenue growth (NTM/LTM) is 7%. |
| What is the current EV/Revenue multiple of Nexters? | Current revenue multiple of Nexters is 0.5x. |
| Is Nexters profitable? | Yes, Nexters is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Nexters? | Nexters' last 12 months EBITDA is $86M. |
| What is Nexters' EBITDA margin? | Nexters' last 12 months EBITDA margin is 21%. |
| What is the current EV/EBITDA multiple of Nexters? | Current EBITDA multiple of Nexters is 2.4x. |
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