contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          slug
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


modular-finance-ir-consensus-asmodee-consensus-estimates-q4-20252026

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Asmodee is active in the development and sale of board games. The company has a broad portfolio of games, including CATAN®, Ticket to Ride®, Dobble/Spot it! ®, Exploding Kittens® and more. The games are offered on both digital and physical platforms. With its operational headquarters in France, Asmodee operates in Europe, North America, South America, Asia and Oceania.

Inderes              Asmodee’s year-end report 25/26: Strong sales and margin expansion - Inderes    Fourth quarter, January-March 2026Net sales amounted to EUR 407.1 million (341.4), an increase of 19.2%, of which 22.3% organic growth.Games published by asmodee studios decreased by -9.8%.Games...                             And the year comes to a close for Asmodee as well; they kept their promises, even though for a moment I thought that with those growth figures they would have prioritized stacking cards over dividends. But I’m fine with €0.17 in four installments.

[ Lars Wingefors storsäljer aktier i Asmodee | Placera.se ] So Lars’s lock-up expires 180 days after the previous sale, and that is right after the middle of February. Unless he announces otherwise, I would expect a large block trade where Lars will likely sell Asmodee shares. Last time, 5 million shares were moved at a price of 117 SEK, which was about a 4% discount to the day’s closing price.

Even the media became interested in Asmodee’s results. The initial +8% start turned quite quickly into a -2% drop on the stock exchange, but it leveled off towards the end of the day so that it even ended up in the green. Someone big took the opportunity to make an exit; there are still parties among the company’s owners who do not want to be owners in a traditional board game company, and now an opportunity opened up to put a large amount up for sale at once, as Asmodee’s trading volume has been quite low. Another topic of speculation could be that since Lars is intending to step aside from Asmodee’s operations as well, there might be another large block for sale, and this kept large institutions from buying. Koegler said yesterday that the goal has indeed been achieved; they are now considering how the shareholder reward policy will be implemented. They have plenty of time for this deliberation; the AGM is scheduled for the autumn.

Record quarter for sales and EBITDA [ https://corporate.asmodee.com/news/asmodees-interim-report-april-december-2025-record-quarter-for-sales-and-ebitda ] Third quarter, October-December 2025 Net sales amounted to EUR 524.1 million (429.0), an increase of 22.2%, of which 25.6% organic growth.  Games published by asmodee studios decreased by -12.7%.  Games published by partners increased by 50.3%.  Others decreased by -8.5%.  Adjusted EBITDA amounted to EUR 114.5 million (89.3), corresponding to an adjusted EBITDA margin of 21.8% (20.8).  Adjusted EBIT amounted to EUR 107.2 million (82.9). EBIT amounted to EUR 91.3 million (37.4).  Adjusted profit/loss for the quarter was EUR 64.4 million (41.6), which equates to adjusted earnings per share of EUR 0.28 (0.25).  Profit/loss for the quarter amounted to EUR 49.1 million (3.5), which equates to basic earnings per share of EUR 0.21 (0.02).  Free cash flow after income tax and lease payments amounted to EUR 76.5 million (71.8), resulting in a free cash flow conversion relative to adjusted EBITDA of 67% (80). Organic growth (+25.6%) stems largely from the previously announced partnership with Hasbro. This means card production is driving growth significantly.  Figures set by Fitch for a credit rating upgrade. Most of these have already been achieved, though we are still slightly short in terms of EBITDA.   Increasing scale with Fitch-calculated EBITDA maintained above EUR250 million on a sustained basis   Established record of strong commitment to its financial policy, with total debt below 3.5x Fitch-calculated EBITDA on a sustained basis, including consistency with the stated shareholder policy and a conservative stance on debt-funded M&A   FCF margins sustained at mid-single digits   EBITDA interest cover sustained above 4.5x    The shareholder remuneration policy is based on the EBITDA-to-debt ratio. Here, too, we have already fallen below the target set at the Capital Markets Days; though back then, it wasn’t known that Embracer would still provide funding when they spun off Asmodee. I’m certainly sitting here with interest looking forward to the next interim report, which will conclude the fiscal year.

The gap between Asmodee and Embracer has only widened over the past year. Asmodee already operates practically as a fully independent company. Financing, cash flow, and strategy no longer rely on Embracer. Still, it feels like some of the Embracer pessimism is still weighing down Asmodee’s valuation. The report on Christmas sales (Feb 19th) will be interesting to see how close they are to Asmodee’s targets regarding when the shareholder remuneration policy could begin (of course, the full-year results come first).  Analyst consensus remains positive.  I tried to learn Catan with my wife at a board game bar, but a slight state of dizziness prevented me from internalizing the rules.

My gut feeling is from the previous day’s Asmodee sell-off, especially since Embracer’s insiders have been buying up their own company, that Asmodee has been sold off a bit more in Larss’s wake…

Lars, together with a board member, sold 5 million shares of Asmodee at a price of 117 SEK. To institutional and private investors. Asmodee released a good report, perhaps a minor flaw that sales of their own games were slightly weak (-1%), but this is reportedly going to be fixed soon. Target prices are still above the current share price.

Asmodee

Estimates compiled by Modular Finance on behalf of Asmodee.Number of contributors: 10 (all of which have been updated or confirmed before the report)KPI (MEUR, unless otherwise specified)Q4 ...

<div class="mfn-body"><p>Estimates compiled by Modular Finance on behalf of Asmodee.</p><p>Number of contributors: 10 (all of which have been updated or confirmed before the report)</p><table class="mfn-w-set"><tbody><tr><td colspan="1" rowspan="1" valign="top" width="365.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid"><strong>KPI (MEUR, unless otherwise specified)</strong></td><td align="right" colspan="1" rowspan="1" valign="top" width="184.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid"><strong>Q4 25/26E</strong></td></tr><tr><td colspan="1" rowspan="1" valign="top" width="365.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Net sales</td><td align="right" colspan="1" rowspan="1" valign="top" width="184.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">376</td></tr><tr><td colspan="1" rowspan="1" valign="top" width="365.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Organic growth (%)</td><td align="right" colspan="1" rowspan="1" valign="top" width="184.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">13.17</td></tr><tr><td colspan="1" rowspan="1" valign="top" width="365.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Operating profit</td><td align="right" colspan="1" rowspan="1" valign="top" width="184.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">24.8</td></tr><tr><td colspan="1" rowspan="1" valign="top" width="365.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Net profit</td><td align="right" colspan="1" rowspan="1" valign="top" width="184.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">14.7</td></tr><tr><td colspan="1" rowspan="1" valign="top" width="365.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adjusted EBITDA</td><td align="right" colspan="1" rowspan="1" valign="top" width="184.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">48.3</td></tr><tr><td colspan="1" rowspan="1" valign="top" width="365.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adjusted EBITDA margin (%)</td><td align="right" colspan="1" rowspan="1" valign="top" width="184.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">12.83</td></tr><tr><td colspan="1" rowspan="1" valign="top" width="365.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adjusted EBIT</td><td align="right" colspan="1" rowspan="1" valign="top" width="184.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">39.8</td></tr><tr><td colspan="1" rowspan="1" valign="top" width="365.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">Adjusted EBIT margin (%)</td><td align="right" colspan="1" rowspan="1" valign="top" width="184.0px" class="mfn-bb-solid mfn-bl-solid mfn-br-solid mfn-bt-solid">10.57</td></tr></tbody></table><p>More consensus estimates can be found on Asmodee’s webpage: <u><a href="https://corporate.asmodee.com/the-share#consensus" rel="noopener">https://corporate.asmodee.com/the-share#consensus</a></u></p><p>Asmodee’s Q4 report will be released on Thursday 21 May 2026 at 7:00 CEST.</p></div><div class="mfn-footer mfn-attachment mfn-attachment-general"><p><strong class="mfn-heading-1">Attachments</strong><br><a class="mfn-generated mfn-primary" href="https://storage.mfn.se/bcefe217-fbb1-4682-b25a-7313b8682813/asmodee-consensus-estimates-q4-2025-2026.pdf" rel="noopener">Asmodee – Consensus estimates Q4 2025/2026</a></p></div>

Modular Finance IR Consensus: Asmodee – Consensus estimates Q4 2025/2026

Modular Finance IR Consensus: Asmodee – Consensus estimates Q4 2025/2026

KPI (MEUR, unless otherwise specified)	Q4 25/26E
Net sales	376
Organic growth (%)	13.17
Operating profit	24.8
Net profit	14.7
Adjusted EBITDA	48.3
Adjusted EBITDA margin (%)	12.83
Adjusted EBIT	39.8
Adjusted EBIT margin (%)	10.57