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Digital Bros S.p.A.

0N8R.L
46
Electronic Gaming & Multimedia · Technology
Price
12.00 GBp
-1.04 (-7.98%)
Market Cap
£171.1M
Exchange
London Stock Exchange
Winston Score
46
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
13/30
Growth
Mixed
7/20
Cash Flow
Mixed
4/10
Stability
Exceptional
9/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Good
3/5

46 of 100 counted points = Winston Score 46.

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Share count falling — buybacks

−2.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 14.5M (2022) → 14.1M (2026)

§Winston Score History

The full picture

Digital Bros is an Italian video game company that makes, publishes, and distributes games for consoles, PC, and mobile devices. Its best-known label is 505 Games, which has published titles like *Control*, *Assetto Corsa*, and *Death Stranding* to a global audience of gamers. The company sits in the mid-tier of the games industry, sitting between large publishers like EA and small independent studios.

The company earns money through game sales, digital downloads, and licensing deals with developers whose games it publishes. Digital Bros operates mainly in Europe but distributes titles worldwide through digital storefronts like Steam and PlayStation Network. Its competitive edge comes from long-term relationships with independent developers and a catalog of owned intellectual property, though mid-sized publishers face real pressure from both large studios with bigger budgets and the growing cost of acquiring new players. The key risk is hit dependency — a small number of titles drive most of the revenue, so a poorly received release can meaningfully hurt results.

Growth Profile

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

Revenue Growth

-29.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+55.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

67.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€10M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue declining

Digital Bros S.p.A.'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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
94.6%
Premium pricing power — 94.6% gross margin
Profit after running costs
Operating Margin
-42.5%
Losing money on operations — -42.5%
Return on the money invested
ROCE
9.5%
Below par — 9.5% 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
+15.8%
Fast-growing sales (+15.8% YoY)
Profit growth
EPS YoY
N/A
Data not available
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
N/A
Data not available
Spare cash per sale
FCF Margin
32.8%
Converts sales into free cash efficiently (32.8%)

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
0.09
Conservative — low debt load (0.09)
Covers its interest
Interest Cover
8.50x
Comfortably covers interest (8.5x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
1.52%
Small dividend — 1.52% yield

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

Dividend record
Dividend Growth
+82.9%
Dividend growing fast (82.9% YoY)

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