0H8X Relative Valuation - Activision Blizzard Inc - Alpha Spread
A

Activision Blizzard Inc
LSE:0H8X

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Activision Blizzard Inc
LSE:0H8X
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Price: 94.25 USD Market Closed
Market Cap: 73.7B USD
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Relative Value

The Relative Value of one 0H8X stock under the Base Case scenario is 65.98 USD. Compared to the current market price of 94.25 USD, Activision Blizzard Inc is Overvalued by 30%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

0H8X Relative Value
Base Case
65.98 USD
Overvaluation 30%
Relative Value
Price
A
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
11
vs Industry
Median 3Y
7.9
Median 5Y
7.9
Industry
1.4
Forward
7.5
vs History
14
vs Industry
Median 3Y
34
Median 5Y
31.9
Industry
17.4
Forward
21.9
vs History
23
vs Industry
Median 3Y
29
Median 5Y
28.4
Industry
11.4
vs History
20
vs Industry
Median 3Y
30.3
Median 5Y
28.9
Industry
15.6
vs History
28
vs Industry
Median 3Y
3.5
Median 5Y
3.5
Industry
1.7
vs History
17
vs Industry
Median 3Y
6.9
Median 5Y
7
Industry
1.5
Forward
6.5
vs History
15
vs Industry
Median 3Y
9.7
Median 5Y
9.8
Industry
3.3
vs History
6
vs Industry
Median 3Y
22.9
Median 5Y
20
Industry
8.8
Forward
17.1
vs History
7
vs Industry
Median 3Y
26.9
Median 5Y
23.6
Industry
12.3
Forward
17.9
vs History
30
vs Industry
Median 3Y
25.1
Median 5Y
25.2
Industry
10.6
vs History
31
vs Industry
Median 3Y
26.2
Median 5Y
26.4
Industry
13.7
vs History
14
vs Industry
Median 3Y
3.9
Median 5Y
3.9
Industry
1.4

Multiples Across Competitors

0H8X Competitors Multiples
Activision Blizzard Inc Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
US
Activision Blizzard Inc
LSE:0H8X
74.1B USD 8.5 34.2 24.6 28.9
JP
Nintendo Co Ltd
TSE:7974
8.8T JPY 6.1 22.6 16 16.7
CN
NetEase Inc
NASDAQ:NTES
50B USD 3.3 12.3 7.8 8.5
SG
Sea Ltd
NYSE:SE
45.7B USD 3.2 -228.2 109.4 -1 486.5
US
Electronic Arts Inc
NASDAQ:EA
38.6B USD 5.3 33.6 20.2 25.6
US
Roblox Corp
NYSE:RBLX
30.7B USD 9.7 -28.4 -29.9 -24.5
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
26.6B USD 4.9 -7 39 -75.8
JP
Nexon Co Ltd
TSE:3659
2.2T JPY 5.1 32.2 11.9 12.7
JP
Konami Holdings Corp
TSE:9766
1.8T JPY 4.9 28.3 14.4 18.4
KR
Krafton Inc
KRX:259960
15.4T KRW 6.5 17.2 10.9 12.1
JP
Capcom Co Ltd
TSE:9697
1.3T JPY 9.8 38.3 24.6 27
P/E Multiple
Earnings Growth
US
A
Activision Blizzard Inc
LSE:0H8X
Average P/E: 27.3
34.2
151%
JP
Nintendo Co Ltd
TSE:7974
22.6
-4%
CN
NetEase Inc
NASDAQ:NTES
12.3
34%
SG
Sea Ltd
NYSE:SE
Negative Multiple: -228.2
1 129%
US
Electronic Arts Inc
NASDAQ:EA
33.6
98%
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -28.4 N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
Negative Multiple: -7 N/A
JP
N
Nexon Co Ltd
TSE:3659
32.2
115%
JP
Konami Holdings Corp
TSE:9766
28.3
39%
KR
Krafton Inc
KRX:259960
17.2
80%
JP
Capcom Co Ltd
TSE:9697
38.3
39%
EV/EBIT Multiple
EBIT Growth
US
A
Activision Blizzard Inc
LSE:0H8X
Average EV/EBIT: 18.7
28.9
153%
JP
Nintendo Co Ltd
TSE:7974
16.7
N/A
CN
NetEase Inc
NASDAQ:NTES
8.5
48%
SG
Sea Ltd
NYSE:SE
Negative Multiple: -1 486.5
477%
US
Electronic Arts Inc
NASDAQ:EA
25.6
82%
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -24.5 N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
Negative Multiple: -75.8 N/A
JP
N
Nexon Co Ltd
TSE:3659
12.7
N/A
JP
Konami Holdings Corp
TSE:9766
18.4
N/A
KR
Krafton Inc
KRX:259960
12.1
46%
JP
Capcom Co Ltd
TSE:9697
27
N/A

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