Viaplay Group AB (publ)

VPLAY-A.ST

Entertainment · Communication Services

Exchange

Stockholm Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Winston Score History

The full picture

Viaplay Group is a Nordic media and entertainment company based in Sweden. It runs a streaming service called Viaplay, which offers movies, TV shows, sports, and original content to subscribers mostly in Scandinavia and parts of Northern Europe. The company also owns TV channels and produces its own programming, making it one of the larger homegrown media players in the Nordic region.

Viaplay Group earns most of its money through monthly streaming subscriptions and pay-TV packages sold directly to consumers. It operates primarily in Sweden, Norway, Denmark, Finland, and a handful of other European markets, with a smaller presence in the US and UK following an ambitious but troubled international expansion. The company has faced serious financial strain from overspending on sports rights — particularly Nordic football and Formula 1 — and the key risk going forward is whether it can cut costs and retain subscribers fast enough to reach sustainable profitability, given its very thin operating margins.

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

+27.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+243.9% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

62.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 1.3B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Viaplay Group AB (publ) grew revenue 28% 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

16.9%

Thin — 16.9% gross margin

Profit after running costs

Operating Margin

5.5%

Thin — 5.5% operating margin

Return on the money invested

ROCE

4.2%

Weak — 4.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+10.3%

Steady sales growth (+10.3% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-11.8%

Burning cash (-11.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

3.15

Heavy debt load (3.15)

Covers its interest

Interest Cover

0.49x

Dangerous — barely covers interest (0.5x)

Interest coverage below 1. Their profits don't cover the interest bill.

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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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