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Research

Remedy: We keep our eye on the long game

By Atte RiikolaAnalyst
Remedy Entertainment
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We reiterate our Accumulate recommendation for Remedy and raise our target price to EUR 50.0 (previously EUR 38.0) after the H2 report again strengthened our confidence in the company's long-term value creation potential. Thanks to a multi-project model that has been built with controlled risks and is well-managed, Remedy’s preconditions for developing successful games are good. In addition, favorable market trends help the company grow into a clearly larger game house than currently over this decade. Due to a growth story that progresses strongly we still play the long game with the share, even though the valuation looks tight in the short term.

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 Figures14.02.2021

202021e22e
Revenue41.145.948.8
growth-%29.8 %11.7 %6.3 %
EBIT (adj.)13.215.514.8
EBIT-% (adj.)32.2 %33.8 %30.3 %
EPS (adj.)0.861.020.97
Dividend0.150.200.25
Dividend %0.4 %1.6 %2.0 %
P/E (adj.)45.512.613.1
EV/EBITDA31.57.77.2

Forum discussions

This encapsulates the problem with Control: it is NOT a big game itself, even though forecasts and the stock pricing demand a mega-hit. Social...
4/17/2026, 7:44 AM
by Trivial
15
Insider Gaming – 16 Apr 26 Alan Wake is Coming to Phasmophobia Next Month Phasmophobia's first-ever collaboration is with Remedy's Alan Wake...
4/16/2026, 8:03 PM
by Henkka
15
It looks like Sony’s State of Play and the Resonant news will be for next week then, if they are coming at all. There were rumors about AC: ...
4/16/2026, 7:35 PM
10
Is there some assumption in the industry that you can’t make announcements on your own YouTube channel, but they always have to be in connection...
4/16/2026, 8:24 AM
by Spwni
9
Good find. Remedy’s own YouTube channel has 150k subscribers vs. Galaxies’ 3.5k. And then they go and dilute the attention, when their own event...
4/16/2026, 4:57 AM
9
The Galaxies show doesn’t quite hit the mark for this But it’s quite funny that today was rumored for the release date trailer, but at a Sony...
4/16/2026, 3:57 AM
by Hasty
5
The Galaxies Spring showcase is today at 22:00. Remedy mentioned among the partners. Home Galaxies Gaming Showcase Galaxies is a live-streamed...
4/16/2026, 3:20 AM
by Miika21
14
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