What is GDEV Inc. (GDEV)'s fair-value range?

EvidInvest reads GDEV Inc. (GDEV)'s market price back into the assumptions behind it — the implied P/E, growth rate and cash yield — using its latest filed financials, then lets you set your own. See the full DCF, Graham number, EPV and multiple-based methods at https://evidinvest.com/valuation/GDEV.

How is GDEV Inc. (GDEV)'s fair value calculated?

GDEV Inc. (GDEV)'s fair value is computed with several independent methods — a discounted cash flow (DCF) model, the Graham number, earnings power value (EPV), and valuation multiples such as PE and EV/EBITDA — using data from SEC filings. P/B is optional for non-financial companies and included in the preset range for financial sectors.

Which filing are GDEV Inc. (GDEV)'s valuation inputs based on?

Inputs come from the FY2025 annual report filed 2026-03-31 (accession 0001104659-26-037847). Source: https://www.sec.gov/Archives/edgar/data/1848739/000110465926037847/

Fair value · GDEV Inc. (GDEV) · updated 2026-10-29 · from annual report FY2025

GDEV trades at $9.59. That price implies a P/E of 2.3×, 1.9% yearly EPS growth for a decade, 1.4× EV/EBITDA and a 44.7% free-cash-flow yield.

Name: GDEV Inc. (GDEV) valuation inputs and fair-value methods
Creator: EvidInvest
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Cboe · delayed 15 min · as of 20:05 ET

Are those assumptions reasonable? Use GDEV’s filed growth history and the AI chat to decide, then set your own inputs below — the range you build is yours.

What the price implies

P/E: 2.3×
EPS growth: 1.9%
EV/EBITDA: 1.4×
FCF yield: 44.7%

Prices and market caps: Cboe delayed data, at least 15 minutes delayed. Not real-time. Fundamentals from company filings. This price: Cboe · delayed 15 min · as of 20:05 ET.

Set your own assumptions ↓See how each method got its number Check another stock

Inputs come from the FY2025 annual report filed 2026-03-31 (accession 0001104659-26-037847); set your own on the sliders below. Research, not investment advice.

The filing behind these numbers

GDEV Inc.

Revenue: $404.3M
Diluted EPS: $3.77
Free cash flow: $29.1M; operating cash flow − capital expenditure
Diluted shares: 18.4M; weighted average

annual report FY2025 · fiscal year ended 2025-12-31 · filed 2026-03-31 · accession 0001104659-26-037847

Trailing-twelve-month EPS also uses the quarterly 6-Ks through Q2 FY2026 (filed 2026-08-21).

Open this filing on sec.gov

Valuation tool: build your own GDEV range

Fair Value Summary

Daily Price — GDEV

$10.05 -58.6% (1Y)

Range implied by today’s price2 of 7 methods

$9.59 – $9.59

Price $9.59

Bear $9.59Base $9.59Bull $9.59

Range with preset inputs

$24 – $24

Price $9.59

Bear $24Base $24Bull $24

Every method that could be solved backwards opens on the assumption today’s price makes, so the top range sits on the price — that is arithmetic, not a view. Change any input and it becomes yours.

We don’t tell you what GDEV is worth. Every tab OPENS on what today’s price implies for that method’s key assumption; you decide whether that assumption is reasonable — the growth matrix has GDEV’s filed history and the AI chat will reason it through with you — and the range you build is yours. Our presets are filed history and reference settings, never a recommendation.

Discounted cash flow

$45.11per share

370% above the $9.59 price· outside the ±300% band, left out of the range

Your stage-1 FCF growth (5.0%) is above the -20.9% the price implies — your value lands 370% above the price.

Preset inputs — revenue-driven DCF from the latest filing

Two-stage FCF model at the same filed inputs: $22.33 — move any slider below and that model takes over.

Implied by today’s price

At $9.59 the market implies a stage-1 FCF growth of -20.9%. (two-stage FCF model solved for stage-1 growth at 12.18% WACC)

The price implies stage-1 FCF growth of -20.9%, outside the range this slider covers. Showing preset inputs.

Implied discount rate (holding growth): 31.6% · the WACC that makes the same model print the price

That is the assumption the market is making — not ours, and not a recommendation. Decide whether it is reasonable: the growth matrix shows what GDEV has actually filed, and the AI chat will reason it through with you.

Your inputs

Free cash flow grows at your stage-1 rate, then your stage-2 rate, then a terminal rate; everything is discounted at your WACC.

Stage-1 growth5.0%

Yearly free-cash-flow growth for the first stage. Starts below zero so a shrinking-cash-flow case — and the rate today’s price implies — can be set.

-20.0%60.0%

Stage-1 years5 yrs

How long stage-1 growth lasts.

1 yrs10 yrs

Stage-2 growth2.5%

Slower growth after stage 1, before the terminal phase.

-20.0%30.0%

Stage-2 years5 yrs

0 yrs10 yrs

Terminal growth2.5%

Growth forever after the two stages. Above ~3% is rarely justified.

0.0%5.0%

Discount rate (WACC)12.18%

The return you require. Default is the WACC EvidInvest computed for this company. Higher discount rate, lower value.

3.00%15.00%

Net debt ($M)Debt minus cash, from the balance sheet. Subtracted from enterprise value.

Starting FCF ($M)Latest free cash flow from the filing (operating cash flow minus capex).

Shares (M)Diluted shares, from the filing.

Year by year (two-stage model, $M)

PV explicit $200M · PV terminal $140M · EV $340M · equity $402M

Year	Stage	FCF	Present value
1	Stage 1	$30M	$27M
2	Stage 1	$32M	$25M
3	Stage 1	$34M	$24M
4	Stage 1	$35M	$22M
5	Stage 1	$37M	$21M
6	Stage 2	$38M	$19M
7	Stage 2	$39M	$17M
8	Stage 2	$40M	$16M
9	Stage 2	$41M	$15M
10	Stage 2	$42M	$13M

Inputs from the filing

Free cash flow: $50.1M; sum of the last four quarters
EBIT: $71.1M; latest annual
Shares: 18.2M
Total debt: $1.1M
Cash: $62.9M
Net debt: $-61.8M; debt − cash

annual report FY2025 · period ended 2025-12-31 · filed 2026-03-31 · accession 0001104659-26-037847 · sec.gov

Prefer a blank slate with reverse DCF? Open the standalone DCF / reverse DCF for GDEV

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Download the full GDEV valuation report (PDF) — free

DCF fair value, Graham number, EPV, key multiples and growth rates in one clean PDF.

GDEV trades at $9.59. That price implies a P/E of 2.3×, 1.9% yearly EPS growth for a decade, 1.4× EV/EBITDA and a 44.7% free-cash-flow yield.

The filing behind these numbers

Valuation tool: build your own GDEV range

Daily Price — GDEV

Range implied by today’s price2 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

More on GDEV

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Valuation tool: build your own GDEV range

Daily Price — GDEV

Range implied by today’s price2 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

More on GDEV

Compare with peers

Explore