MAG Interactive AB (publ)

MAGI.ST

Electronic Gaming & Multimedia · Technology

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through May 31, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

MAG Interactive is a Swedish mobile game developer that makes casual word and puzzle games for smartphones. Its most well-known titles include Ruzzle, Wordzee, and Wordington, which are played by tens of millions of users worldwide. The company targets everyday mobile gamers, particularly adults who enjoy short, easy-to-pick-up word games.

MAG Interactive earns money through in-app purchases, where players buy virtual items or extra moves, and through in-game advertising shown to free players. The company is headquartered in Stockholm and generates most of its revenue from users in North America and Europe. Its library of established word game brands gives it some recognition in a crowded casual gaming market, but the company currently operates at a loss, and its main challenge is growing and retaining its player base in a highly competitive space dominated by much larger studios like Zynga and King.

Growth Profile

For growth stock investors

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

Revenue Growth

+3.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+53.8% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

46.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 89M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth context

MAG Interactive AB (publ) is growing revenue at 4% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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.

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Quality

Profit per sale

Gross Margin

102.0%

Premium pricing power — 102.0% gross margin

Profit after running costs

Operating Margin

-2.8%

Losing money on operations — -2.8%

Return on the money invested

ROCE

-4.4%

Weak — -4.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+4.4%

Slow sales growth (+4.4% YoY)

Profit growth

EPS YoY

<−1,000%

Earnings shrinking (<−1,000% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

9.7%

Modest free cash flow (9.7%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

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

Not applicable for this business.

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