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Extensive research

Remedy: Results of years of development will be put to test soon

By Atte RiikolaAnalyst
Remedy Entertainment
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With the release of Alan Wake 2 on October 27, the company’s investor story is gradually moving into a phase of profitable growth after years of strong investment. In our view, the valuation of the stock already prices Alan Wake 2 for good success, and the other projects in the pipeline are also expected to create value. We are particularly confident in the success of the traditional AAA game projects under development, whereas the multiplayer projects Condor and especially Vanguard are the biggest question marks at this point. We find Remedy's investment story very interesting looking to the end of this decade, but the current valuation keeps us in a wait-and-see mood.

Remedy Entertainment is a game developer. Its operations are primarily focused on the development of action games, with a particular focus on 3D technology. Examples of games that the company has developed include several different versions of Alan Wake, Max Payne, and Control. Remedy also develops its own game engine and tooling technology that powers many of its games. The company was founded in 1995 and is headquartered in Espoo, Finland.

Read more on company page

Key Estimate Figures13.09.2023

202223e24e
Revenue43.635.755.1
growth-%-2.5 %-18.1 %54.4 %
EBIT (adj.)-0.6-14.32.4
EBIT-% (adj.)-1.3 %-40.0 %4.4 %
EPS (adj.)-0.13-0.850.14
Dividend0.100.100.10
Dividend %0.5 %0.7 %0.7 %
P/E (adj.)neg.neg.107.4
EV/EBITDA126.5neg.21.6

Forum discussions

In my opinion, ARGs and Remedy fit together extremely well as a theme. I’ve been somewhat expecting that Control 2 would include a broader ARG...
12/8/2025, 12:41 PM
by Monopoly_of_bees
7
Instead of game releases, Remedy’s visibility could be or include a wild card such as the announcement of Annapurna Pictures’ film/series production...
12/8/2025, 12:07 PM
by Spwni
8
Very interesting speculation, and we eagerly await what TGA will bring. Could we get Markus Mäki as a guest for a ROAST?
12/8/2025, 10:19 AM
by Ande
2
To extend the brand, let’s add more tinfoil hat theories and speculation. Earlier this week, Sami Järvi posted a picture on Instagram with musician...
12/5/2025, 10:32 AM
by Akee
32
Get your tin foil hats out and let the speculation begin. Remedy’s law firm yesterday registered the trademark CONTROL Resonant. ![image|690x268...
11/28/2025, 1:11 AM
by Trivial
45
Firebreak now has voice chat, but it’s probably too little too late. store.steampowered.com – 19 Nov 25 FBC: Firebreak - Patch Notes v1.7.1 ...
11/19/2025, 1:10 PM
by Akee
15
TakeTwo also has other similar development projects in its pipeline, such as Ken Levine’s “Bioshock in space” - JUDAS, which was supposed to...
11/12/2025, 1:28 PM
by Trivial
13
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