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This stock no longer trades (delisted October 12, 2023)

Delisted / no longer publicly traded (per market data provider) Everything below is based on the last available data — treat it as historical, not a live read.

Stock

Activision Blizzard

ATVI
59
Electronic Gaming & Multimedia · Technology
Price
$94.42
-0.05 (-0.05%)
Market Cap
$74.29B
Exchange
NASDAQ Global Select
Winston Score
59
Historical score — this stock no longer trades, so the score is frozen at the last available data.
Data as of Oct 18, 2026 · filings through Jun 30, 2023

§How the score breaks down

Quality
Strong
21/30
Growth
Good
11/20
Cash Flow
Exceptional
10/10
Stability
Exceptional
10/10
Valuation
Weak
2/10
Ownership
Weak
2/15
Dividends
Good
3/5

59 of 100 counted points = Winston Score 59.

Share count rising — dilution

+2.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 771.0M (2018) → 789.0M (2022)

§Winston Score History

The full picture

Activision Blizzard makes some of the world's most popular video games. Its biggest franchises include Call of Duty, World of Warcraft, Candy Crush, Overwatch, and Diablo. Hundreds of millions of people play its games on consoles, PCs, and mobile phones.

The company earns money through game sales, in-game purchases, and subscriptions. It operates globally, with major studios in the US, Europe, and Asia. Microsoft completed its acquisition of Activision Blizzard in 2023 for roughly $69 billion, making it a subsidiary of Microsoft. As a result, shares may have limited independent trading activity, and the company's future direction is now shaped by Microsoft's broader gaming and cloud strategy.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+34.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+108.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$1.4B/ year

↑ Rising (+6% vs prior year)

18.9% of revenue

In line with sector average (15%)

Investing heavily in future products and technology

Insider Activity

0.7%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$13.1B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Activision Blizzard grew revenue 34% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
70.3%
Premium pricing power — 70.3% gross margin
Profit after running costs
Operating Margin
26.4%
Excellent — 26.4% operating margin
Return on the money invested
ROCE
9.2%
Below par — 9.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+13.9%
Fast-growing sales (+13.9% YoY)
Profit growth
EPS YoY
+15.4%
Earnings growing fast (+15.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
118%
Turns 118% of profit into real cash
Spare cash per sale
FCF Margin
28.1%
Converts sales into free cash efficiently (28.1%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.17
Conservative — low debt load (0.17)
Covers its interest
Interest Cover
20.70x
Comfortably covers interest (20.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
34.1x
Pricey — P/E 34.1

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
1.05%
Small dividend — 1.05% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+96.6%
Dividend growing fast (96.6% YoY)
Payout Ratio
24%
no trend
Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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