GAN Fundamental Analysis - GAN LTD

Fundamental Rating

Taking everything into account, GAN scores 2 out of 10 in our fundamental rating. GAN was compared to 133 industry peers in the Hotels, Restaurants & Leisure industry. GAN has a bad profitability rating. Also its financial health evaluation is rather negative. GAN is valied quite expensively at the moment, while it does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year GAN has reported negative net income.

In the past year GAN had a positive cash flow from operations.

GAN had negative earnings in each of the past 5 years.

In the past 5 years GAN reported 4 times negative operating cash flow.

1.2 Ratios

Looking at the Return On Assets, with a value of -14.14%, GAN is doing worse than 87.31% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	-14.14%
ROE	N/A
ROIC	N/A

ROA(3y)-80.41%

ROA(5y)-52.93%

ROE(3y)N/A

ROE(5y)N/A

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

GAN has a Gross Margin of 68.73%. This is amongst the best in the industry. GAN outperforms 82.09% of its industry peers.

GAN's Gross Margin has declined in the last couple of years.

The Profit Margin and Operating Margin are not available for GAN so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	68.73%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y1.66%

GM growth 5Y-1.7%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

GAN does not have a ROIC to compare to the WACC, probably because it is not profitable.

The number of shares outstanding for GAN has been increased compared to 1 year ago.

The number of shares outstanding for GAN has been increased compared to 5 years ago.

GAN has a worse debt/assets ratio than last year.

2.2 Solvency

Based on the Altman-Z score of -3.56, we must say that GAN is in the distress zone and has some risk of bankruptcy.

GAN has a worse Altman-Z score (-3.56) than 94.03% of its industry peers.

The Debt to FCF ratio of GAN is 11.79, which is on the high side as it means it would take GAN, 11.79 years of fcf income to pay off all of its debts.

GAN has a Debt to FCF ratio of 11.79. This is comparable to the rest of the industry: GAN outperforms 54.48% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	N/A
Debt/FCF	11.79
Altman-Z	-3.56

ROIC/WACCN/A

WACC7.12%

2.3 Liquidity

GAN has a Current Ratio of 1.57. This is a normal value and indicates that GAN is financially healthy and should not expect problems in meeting its short term obligations.

The Current ratio of GAN (1.57) is better than 75.37% of its industry peers.

GAN has a Quick Ratio of 1.57. This is a normal value and indicates that GAN is financially healthy and should not expect problems in meeting its short term obligations.

Looking at the Quick ratio, with a value of 1.57, GAN is in the better half of the industry, outperforming 76.87% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	1.57
Quick Ratio	1.57

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

GAN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 71.43%, which is quite impressive.

Looking at the last year, GAN shows a small growth in Revenue. The Revenue has grown by 7.02% in the last year.

Measured over the past years, GAN shows a very strong growth in Revenue. The Revenue has been growing by 35.10% on average per year.

EPS 1Y (TTM)71.43%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-44.44%

Revenue 1Y (TTM)7.02%

Revenue growth 3Y2.82%

Revenue growth 5Y35.1%

Sales Q2Q%-4.19%

3.2 Future

The Earnings Per Share is expected to grow by 13.04% on average over the next years. This is quite good.

The Revenue is expected to grow by 3.90% on average over the next years.

EPS Next Y47.61%

EPS Next 2Y6.55%

EPS Next 3Y13.04%

EPS Next 5YN/A

Revenue Next Year-4.82%

Revenue Next 2Y2.15%

Revenue Next 3Y3.9%

Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

GAN reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.

Also next year GAN is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GAN indicates a slightly more expensive valuation: GAN is more expensive than 74.63% of the companies listed in the same industry.

Compared to the rest of the industry, the Price/Free Cash Flow ratio of GAN indicates a somewhat cheap valuation: GAN is cheaper than 69.40% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	22.44
EV/EBITDA	31.02

4.3 Compensation for Growth

GAN's earnings are expected to grow with 13.04% in the coming years. This may justify a more expensive valuation.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y6.55%

EPS Next 3Y13.04%

More info and screens

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5. Dividend

5.1 Amount

GAN does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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GAN LTD

NASDAQ:GAN (5/23/2025, 8:18:27 PM)

After market: 1.9601 -0.01 (-0.5%)

1.97

+0.01 (+0.51%)

Chartmill FA Rating

GICS SectorConsumer Discretionary

GICS IndustryGroupConsumer Services

GICS IndustryHotels, Restaurants & Leisure

Earnings (Last)05-09 2025-05-09/amc

Earnings (Next)08-07 2025-08-07/amc

Inst Owners31.54%

Inst Owner Change-12.87%

Ins Owners7.71%

Ins Owner Change0%

Market Cap91.53M

Revenue(TTM)133.71M

Net Income(TTM)-10.63M

Analysts46.67

Price Target2.01 (2.03%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly DividendN/A

Dividend Growth(5Y)N/A

DPN/A

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)0

Avg EPS beat(2)-1219.36%

Min EPS beat(2)-2327.72%

Max EPS beat(2)-111%

EPS beat(4)2

Avg EPS beat(4)-556.24%

Min EPS beat(4)-2327.72%

Max EPS beat(4)177.66%

EPS beat(8)3

Avg EPS beat(8)-288.04%

EPS beat(12)5

Avg EPS beat(12)-466.6%

EPS beat(16)6

Avg EPS beat(16)-402.26%

Revenue beat(2)0

Avg Revenue beat(2)-21.32%

Min Revenue beat(2)-23.68%

Max Revenue beat(2)-18.97%

Revenue beat(4)2

Avg Revenue beat(4)-8.85%

Min Revenue beat(4)-23.68%

Max Revenue beat(4)5.93%

Revenue beat(8)3

Avg Revenue beat(8)-9.89%

Revenue beat(12)3

Avg Revenue beat(12)-8.37%

Revenue beat(16)5

Avg Revenue beat(16)-6.79%

PT rev (1m)0%

PT rev (3m)0%

EPS NQ rev (1m)0%

EPS NQ rev (3m)54%

EPS NY rev (1m)0%

EPS NY rev (3m)-112.82%

Revenue NQ rev (1m)-6.59%

Revenue NQ rev (3m)-7.27%

Revenue NY rev (1m)-8.67%

Revenue NY rev (3m)-13.99%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	0.68
P/FCF	22.44
P/OCF	12.53
P/B	N/A
P/tB	N/A
EV/EBITDA	31.02

EPS(TTM)-0.2

EYN/A

EPS(NY)-0.14

Fwd EYN/A

FCF(TTM)0.09

FCFY4.46%

OCF(TTM)0.16

OCFY7.98%

SpS2.88

BVpS-0.35

TBVpS-0.7

PEG (NY)N/A

PEG (5Y)N/A

Graham NumberN/A

Profitability

		Industry Rank	Sector Rank
ROA	-14.14%
ROE	N/A
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	68.73%
FCFM	3.05%

ROA(3y)-80.41%

ROA(5y)-52.93%

ROE(3y)N/A

ROE(5y)N/A

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexgc growth 3YN/A

ROICexgc growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y1.66%

GM growth 5Y-1.7%

F-Score4

Asset Turnover1.78

Health

		Industry Rank	Sector Rank
Debt/Equity	N/A
Debt/FCF	11.79
Debt/EBITDA	14.97
Cap/Depr	41.36%
Cap/Sales	2.41%
Interest Coverage	N/A
Cash Conversion	227.42%
Profit Quality	N/A
Current Ratio	1.57
Quick Ratio	1.57
Altman-Z	-3.56

F-Score4

WACC7.12%

ROIC/WACCN/A

Cap/Depr(3y)45.66%

Cap/Depr(5y)80.76%

Cap/Sales(3y)5.61%

Cap/Sales(5y)8.98%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)71.43%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-44.44%

EPS Next Y47.61%

EPS Next 2Y6.55%

EPS Next 3Y13.04%

EPS Next 5YN/A

Revenue 1Y (TTM)7.02%

Revenue growth 3Y2.82%

Revenue growth 5Y35.1%

Sales Q2Q%-4.19%

Revenue Next Year-4.82%

Revenue Next 2Y2.15%

Revenue Next 3Y3.9%

Revenue Next 5YN/A

EBIT growth 1Y83.38%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year1701.45%

EBIT Next 3Y226.63%

EBIT Next 5YN/A

FCF growth 1Y128.56%

FCF growth 3YN/A

FCF growth 5Y0.48%

OCF growth 1Y314.28%

OCF growth 3YN/A

OCF growth 5Y0.79%

GAN LTD / GAN FAQ

What is the fundamental rating for GAN stock?

ChartMill assigns a fundamental rating of 2 / 10 to GAN.

Can you provide the valuation status for GAN LTD?

ChartMill assigns a valuation rating of 1 / 10 to GAN LTD (GAN). This can be considered as Overvalued.

How profitable is GAN LTD (GAN) stock?

GAN LTD (GAN) has a profitability rating of 1 / 10.

What is the expected EPS growth for GAN LTD (GAN) stock?

The Earnings per Share (EPS) of GAN LTD (GAN) is expected to grow by 47.61% in the next year.

GAN LTD (GAN) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

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GAN LTD / GAN FAQ

What is the fundamental rating for GAN stock?

Can you provide the valuation status for GAN LTD?

How profitable is GAN LTD (GAN) stock?

What is the expected EPS growth for GAN LTD (GAN) stock?