olivLaw · US equity research
Playtika Holding Corp. PLTK
Services-Computer Processing & Data Preparation · SIC 7374 · Vertical: Services-Computer Processing & Data Preparation (SIC 7374)
Playtika is a mobile game developer and operator of free-to-play titles spanning social casino and casual games, run on a proprietary live operations platform. It reported revenue of 2755.4 million USD in fiscal 2025, and in the second quarter of 2026 revenue fell slightly sequentially but rose year over year, making margin trends and marketing spend closely watched by investors.
At the close of 04 Nov 2026, Playtika Holding Corp. (PLTK) stock was 2.12 USD (+5.47% on the day), with market capitalisation 808.6 m USD, dividend yield 18.87%, beta 0.95, 52-week range 1.97–4.37 USD. Latest reported quarter (Q2 2026): revenue of 731.1 m USD (+5.0% YoY), net income of 48.0 m USD (+44.6% YoY), diluted EPS 0.13 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.6
- neutral
- Bollinger (20, 2)
- 1.91 – 2.28
- in the upper half of the band · %B 0.56 · band width 17.6%
- SMA 50 / 200
- 2.19 / 3.06
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.06 / -0.07
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.8% | −1.1% | −1.7 pp | — |
| 3 months | −45.5% | −0.5% | −45.0 pp | — |
| 6 months | −40.6% | +4.4% | −45.0 pp | — |
| Year to date | −46.3% | +12.3% | −58.6 pp | — |
| 1 year | −41.9% | +13.5% | −55.5 pp | −17.2% |
| 3 years | −75.7% | +76.4% | −152.1 pp | −17.8% |
| 5 years | −91.0% | +63.7% | −154.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 620.8 m | 650.3 m | 706.0 m | 696.0 m | 674.6 m | 678.8 m | 744.7 m | 731.1 m |
| Cost of revenue | 168.1 m | 178.8 m | 197.4 m | 195.8 m | 178.4 m | 186.9 m | 192.2 m | 192.9 m |
| Research & development | 99.2 m | 96.3 m | 103.8 m | 114.5 m | 98.8 m | 109.6 m | 98.0 m | 96.4 m |
| Operating income | 97.5 m | 55.3 m | 67.8 m | 109.7 m | 98.4 m | -281.0 m | -49.6 m | 134.6 m |
| Interest expense | 38.7 m | 38.6 m | 36.1 m | 36.5 m | 36.6 m | 34.1 m | 34.7 m | 37.8 m |
| Pre-tax income | 63.7 m | 21.6 m | 41.1 m | 45.1 m | 58.1 m | -317.2 m | -73.8 m | 68.5 m |
| Income tax | 24.4 m | 38.3 m | 10.5 m | 11.9 m | 19.0 m | -7.9 m | -16.3 m | 20.5 m |
| Net income | 39.3 m | -16.7 m | 30.6 m | 33.2 m | 39.1 m | -309.3 m | -57.5 m | 48.0 m |
| Diluted EPS | 0.11 | -0.04 ≈ | 0.08 | 0.09 | 0.11 | -0.81 ≈ | -0.15 | 0.13 |
| Operating cash flow | 156.9 m ≈ | 153.1 m | 18.8 m | 146.1 m ≈ | 116.9 m ≈ | 285.9 m | 22.8 m | 28.7 m ≈ |
| Capex | 4.8 m ≈ | 12.8 m | 10.4 m | 4.8 m ≈ | 10.4 m ≈ | 10.7 m | 5.7 m | 8.4 m ≈ |
| Dividends paid | 37.2 m ≈ | 37.2 m | 37.3 m | 37.6 m ≈ | 37.6 m ≈ | 37.7 m | 37.7 m | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.5 bn | 1.9 bn | 2.4 bn | 2.6 bn | 2.6 bn | 2.6 bn | 2.5 bn | 2.8 bn |
| Revenue YoY | unavailable | +26.6% | +25.6% | +8.9% | +1.3% | −1.9% | −0.7% | +8.1% |
| Net income | 338.0 m | 288.9 m | 92.1 m | 308.5 m | 275.3 m | 235.0 m | 162.2 m | -206.4 m |
| Net income YoY | unavailable | −14.5% | −68.1% | +235.0% | −10.8% | −14.6% | −31.0% | −227.3% |
| Diluted EPS | 0.89 | 0.76 | 0.24 | 0.75 | 0.69 | 0.64 | 0.44 | -0.55 |
| Diluted EPS YoY | unavailable | −14.6% | −68.4% | +212.5% | −8.0% | −7.2% | −31.3% | −225.0% |
| net % | 22.7% | 15.3% | 3.9% | 11.9% | 10.5% | 9.2% | 6.4% | -7.5% |
| Free cash flow | 411.7 m | 436.6 m | 463.6 m | 504.3 m | 425.4 m | 483.0 m | 449.2 m | 531.4 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 684.2 m USD
- Financial debt
- 2.4 bn USD
- Net debt
- 1.7 bn USD
- Equity
- -411.4 m USD
- Total assets
- 3.7 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.10x
- ROE
- unavailable
- ROA
- -5.6%
- FCF margin
- 19.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.4 bn | 2.6 bn | 2.6 bn | 2.6 bn | 2.5 bn | 2.8 bn | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 712.2 m | 729.0 m | 735.7 m | 718.5 m | 692.1 m | 758.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 1.7 bn ≈ | 1.9 bn ≈ | 1.9 bn ≈ | 1.8 bn ≈ | 1.9 bn ≈ | 2.0 bn ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Research & development | 268.9 m | 386.7 m | 472.3 m | 406.4 m | 403.0 m | 426.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | 387.2 m | 562.2 m | 471.4 m | 501.6 m | 391.6 m | -5.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Interest expense | 198.3 m | 149.2 m | 117.5 m | 154.2 m | 155.2 m | 143.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | — | 408.4 m | 360.8 m | 392.1 m | 280.5 m | -172.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | 102.3 m | 99.9 m | 85.5 m | 157.1 m | 118.3 m | 33.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | 92.1 m | 308.5 m | 275.3 m | 235.0 m | 162.2 m | -206.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | 0.24 | 0.75 | 0.69 | 0.64 | 0.44 | -0.55 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 384.7 m | 411.0 m | 401.6 m | 366.8 m | 372.1 m | 375.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividend per share | — | — | — | — | 0.40 | 0.40 | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 520.1 m | 1.0 bn | 768.7 m | 1.0 bn | 565.8 m | 684.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 754.5 m | 1.3 bn | 1.0 bn | 1.4 bn | 872.8 m | 1.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 98.5 m | 103.3 m | 125.7 m | 119.9 m | 115.4 m | 102.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 484.8 m | 788.1 m | 811.2 m | 987.2 m | 1.7 bn | 1.7 bn | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 327.7 m | 417.3 m | 354.0 m | 311.2 m | 562.2 m | 425.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 1.8 bn | 2.8 bn | 2.7 bn | 3.2 bn | 3.6 bn | 3.7 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 484.8 m | 494.6 m | 385.2 m | 438.3 m | 463.0 m | — | SEC (XBRL)· 27 Feb 2025verified |
| Short-term debt | 104.6 m | 12.2 m | 12.4 m | 16.8 m | 11.6 m | 11.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 2.2 bn | 2.4 bn | 2.4 bn | 2.4 bn | 2.4 bn | 2.4 bn | SEC (XBRL)· 26 Feb 2026verified |
| Current liabilities | 640.4 m | 569.7 m | 461.8 m | 539.6 m | 558.9 m | 967.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 3.0 bn | 3.2 bn | 3.3 bn | 3.4 bn | 3.8 bn | 4.1 bn | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 16.7 m | -377.7 m † | -568.6 m † | -221.5 m † | -131.1 m † | -411.4 m † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 517.7 m | 551.7 m | 493.7 m | 515.6 m | 490.1 m | 567.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 54.1 m | 47.4 m | 68.3 m | 32.6 m | 40.9 m | 36.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | 463.6 m ≈ | 504.3 m ≈ | 425.4 m ≈ | 483.0 m ≈ | 449.2 m ≈ | 531.4 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -98.1 m | -609.4 m | -74.6 m | -240.2 m | -782.1 m | -221.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | -181.3 m | 559.7 m | -652.0 m | -18.2 m | -167.1 m | -230.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Dividends paid | 0 | 0 | 0 | 0 | 111.5 m | 150.2 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 54 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 808.6 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet20
- Valuation73
- Quality62
- Growth22
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.00 – 60.86 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)23.21 – 60.86 (Mid 34.25)WACC 6.1% · starting FCFF 539.4 m USD · terminal value share of EV 84%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/Sales0.00 – 30.77 (Mid 7.50)12 companies used · median multiple 1.7x · quartiles 0.4x – 4.8xADP, CARS, CLVT, DXC, EVTC, GMHS, IBEX, SOPH, SSTK, VRSK, WDAY, YEXT
- Peers: EV/EBITDAunavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 54/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 73.5% | 84 (on a fixed band) | 11% |
| EBIT margin · Quality | -3.4% | 38 (vs peers) | 9% |
| FCF margin · Quality | 14.8% | 59 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 1.8% | 7 (on a fixed band) | 18% |
| Revenue growth (YoY) · Growth | 8.1% | 53 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.1x | 20 (on a fixed band) | 7% |
| EV/Sales · Valuation | 1.0x | 53 (vs peers) | 18% |
| FCF yield · Valuation | 51.8% | 100 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 14.0% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial20/100 · 1/2 factors with a value
- Growth22/100 · 2/2 factors with a value
- Quality62/100 · 3/3 factors with a value
- Returns100/100 · 1/1 factors with a value
- Valuation73/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
PLAYTIKA HOLDING CORP. (PLTK). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 2.8 bn USD in 2025; YoY growth 8.1%; net margin -9.9%.
The estimated value range is 11.61–45.81 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 20.88 USD, the price of 2.12 USD leaves a potential of 884.7% (value / price − 1) and a margin of safety of 89.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 54/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Gross margin: 73.5%
- FCF yield: 51.8%
- Shareholder yield (distributions): 14.0%
- The price is below the estimated value range
What contradicts it
- Revenue CAGR 3Y: 1.8%
- Current ratio: 1.1x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA.
Versus the vertical median
Services-Computer Processing & Data Preparation (SIC 7374) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ADPAutomatic Data Processing, Inc. | 119.8 bn | 27.7 | 77.0% | 20.1% | +6.7% | +19% / +32% |
| WDAYWorkday, Inc. | 44.4 bn | 40.9 | 16.0% | 12.3% | +13.1% | −6% / −25% |
| VRSKVerisk Analytics, Inc. | 25.9 bn | 30.1 | — | 29.3% | +6.6% | −12% / −18% |
| ATHMAutohome Inc. | 10.4 bn | 53.5 | 6.3% | 443.2% | +11.1% | −5% / −18% |
| DXCDxc Technology Company | 2.3 bn | 21.9 | 3.7% | 0.9% | −1.8% | +13% / −36% |
| EVTCEVERTEC, Inc. | 2.1 bn | 22.9 | 14.4% | 9.0% | +10.2% | +20% / −6% |
| INFQInfleqtion, Inc. | 1.9 bn | — | -70.8% | — | unavailable | unavailable / unavailable |
| INODInnodata Inc | 1.5 bn | 32.8 | 37.7% | 14.7% | +47.6% | −25% / +541% |
| CLVTClarivate PLC | 1.4 bn | — | -8.2% | -15.1% | −4.0% | −44% / −73% |
| LZLegalZoom.com, Inc. | 1.1 bn | 56.0 | 12.1% | 2.6% | +10.9% | −26% / −40% |
| PLTKPlaytika Holding Corp. | 808.6 m | — | — | -9.9% | +8.1% | −42% / −76% |
| YEXTYext, Inc. | 775.0 m | 40.6 | 27.8% | 5.9% | +6.1% | −7% / +18% |
| NRDSNerdWallet, Inc. | 754.4 m | 13.3 | 18.2% | 7.6% | +21.7% | −21% / +1% |
| NXTTNext Technology Holding Inc. | 736.5 m | — | -59.4% | -2,356.0% | +545.3% | −99% / −100% |
| CARSCars.com Inc. | 682.5 m | 22.4 | 7.4% | 4.7% | +0.6% | +10% / −32% |
| IBEXIBEX Limited | 593.6 m | 14.3 | 30.4% | 7.2% | +15.4% | +27% / +152% |
| SOPHSOPHiA GENETICS SA | 477.3 m | — | -110.0% | -102.2% | +18.6% | +42% / +73% |
| GRVYGravity Co., Ltd. | 475.7 m | 0.0 | 16.5% | 17.0% | −31.0% | +19% / −6% |
| SOHUSohu.com Limited | 355.1 m | 1.0 | 35.8% | 67.4% | −2.4% | −12% / +70% |
| MOVECorvex, Inc. | 176.9 m | — | -9.6% | -623.5% | −57.3% | −17% / −93% |
| SSTKShutterstock, Inc. | 161.1 m | — | -43.4% | -22.9% | +5.8% | −79% / −90% |
| TRAKRepositrak, Inc. | 132.7 m | 18.7 | 14.9% | 32.5% | +3.0% | −46% / −29% |
| GMHSGamehaus Holdings Inc. | 51.4 m | 8.5 | 11.8% | 4.1% | −11.3% | −35% / −93% |
| DDIDoubleDown Interactive Co., Ltd. | 34.1 m | 0.3 | 11.4% | 28.5% | +5.5% | +48% / +72% |
| SJScienjoy Holding Corporation | 23.5 m | — | -66.6% | -47.3% | −4.9% | +28% / −68% |
1- and 3-year price returns: for PLTK from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Playtika is a mobile game developer and operator of free-to-play titles spanning social casino and casual games, run on a proprietary live operations platform. It reported revenue of 2755.4 million USD in fiscal 2025, and in the second quarter of 2026 revenue fell slightly sequentially but rose year over year, making margin trends and marketing spend closely watched by investors.
SWOT
Strengths
- The company says it has a well developed live operations system and a proprietary technology platform that support long-term retention of paying users. It owns most of the intellectual property behind its games, which supports high margins. 1
- The portfolio is diversified, with several titles generating significant revenue, and the company has a track record of integrating acquisitions successfully. 1
- The share of revenue from direct-to-consumer channels has grown quickly, giving flexibility relative to platform rules. 3
Weaknesses
- Revenue is concentrated in a small number of games, and a small share of users generates most of the revenue. 1
- The company carries significant debt and acquisition-related payment obligations, and its revolving credit facility has a near expiry date. 23
- Margins have declined in recent years as the portfolio has shifted toward casual games with lower margins. 1
Opportunities
Threats
- Apple and Google can change their rules, commissions or access to games unilaterally, which could directly affect revenue. 1
- Regulation of social casino games and restrictions in some jurisdictions could lead to games being blocked on major platforms. 1
- Geopolitical tensions in Israel and the region could affect operations, personnel and supply chains. 2
Risks
- Dependence on third-party platformshigh
Revenue depends heavily on the Apple and Google app stores, which can change terms, commissions or access to games. This could materially affect revenue. 1
- Concentration on a few gameshigh
A small number of titles generates most revenue, and a decline in any of them, such as Slotomania, could affect results. 1
- Debt and refinancingmedium
The company has significant debt and a revolving credit facility expiring in March 2027. Difficulty refinancing on favorable terms could limit financial flexibility. 23
- Regional geopolitical riskmedium
The headquarters and a significant part of staff are in Israel, and the regional conflict could have operational effects if it escalates. 2
- Control by majority shareholdermedium
The company is controlled by a majority shareholder whose economic interests could differ from those of other investors. The control structure influences key decisions. 1
Investment thesis
What would need to be true (bull case)
- If the growth in direct-to-consumer channels continues, margins could return to higher levels and dependence on third-party platforms could gradually decline. 13
- If new titles such as Disney Solitaire sustain their growth, they could offset the decline of mature games and help stabilize revenue. 3
- If lower marketing spend is maintained without hurting users, profitability could improve, supporting debt reduction. 3
What would break the thesis
- If daily active users keep falling, revenue could be affected even while average revenue per user rises. 3
- If Apple and Google change their rules or commissions, margins could fall significantly and growth plans could be affected. 1
- If refinancing of the revolving credit facility does not succeed on good terms, financial pressure could increase. 23
What to watch
- Delivery against full-year 2026 guidance for revenue and Adjusted EBITDA, particularly the lower end of the rangeQ4 2026
- Trend in daily active and paying users after the reduction in marketing spendQ3 2026
- Refinancing of the 550 million USD revolving credit facility before its expiry2027
- Development of the regional conflict and effects on operations in Israelnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Playtika Holding Corp. (ticker PLTK, Nasdaq) describes itself as one of the world's leading mobile game operators, with the mission to entertain the world through infinite ways to play. Its free-to-play model earns almost all revenue from sales of virtual items, mainly distributed through Apple and Google platforms. The company was founded in Israel in 2010 and has grown mostly through acquisitions combined with its own live operations services. 13
The portfolio includes 27 games, 15 of which are actively managed, supported by a technology platform covering live operations tools, payment systems, loyalty programs and analytics. Development is concentrated largely in Israel and Germany, and a large share of employees work in research and development. 1
Segments
Casual games
Casual games generated 70.8% of revenue in 2025 and have become the majority of the portfolio. Key titles include Bingo Blitz, Disney Solitaire and June's Journey, and Disney Solitaire grew strongly sequentially in the second quarter of 2026. This growth has been linked to lower margins than the social casino games. 13
Market context
The company describes the free-to-play mobile games market as highly competitive, with low barriers to entry and frequent launches of new games and platforms. Competition for players' time and discretionary spending includes not only other games but also social media and other online entertainment. Playtika measures its performance through daily active users, paying users and average revenue per daily active user. 1
In the second quarter of 2026 average daily active users were 8.0 million, down from 8.8 million a year earlier, while average revenue per daily active user rose. The company links this trend to acquisitions of new studios and its ability to attract and retain players. Apparent revenue growth therefore depends on marketing efficiency and the success of new titles. 3
Trends
- Shift to direct platformstailwind
Direct-to-consumer platforms are growing quickly and could reduce dependence on the 30% commissions of app stores, if alternative payments remain accepted in the relevant jurisdictions. Most gameplay still occurs on third-party platforms whose rules can change unilaterally. 13
- Decline of mature gamesheadwind
Revenue from older titles such as Slotomania has fallen significantly, and daily active users excluding the SuperPlay acquisition declined in 2025. If these declines continue, growth could depend more on new titles and acquisitions. 1
- Marketing spend and marginsmixed
Marketing expenses rose considerably in 2025, especially after the SuperPlay acquisition, and in the second quarter of 2026 the company reduced investment, which helped margins. The longer-term effect depends on sustaining revenue while controlling costs. 13
- Consumer demand and regional riskheadwind
The company warned that a more cautious view of consumer spending could weigh on discretionary entertainment, and the regional conflict remains volatile and could affect personnel and operations in Israel. The company has said direct financial impact has not been material so far. 23
Competitive position
The company names Tencent Holdings, Activision Blizzard (Microsoft), Electronic Arts, Zynga (Take-Two Interactive), SciPlay (Light & Wonder), Product Madness (Aristocrat), Moon Active, Scopely (Savvy Games) and Dream Games as its primary competitors. Many of them have greater name recognition, longer operating histories and larger financial resources. 1
Local competitors may hold advantages in particular countries through better understanding of local culture and language, and some may extend their product lines into games that compete directly with Playtika's. The company points to its operational scale, proprietary technology and acquisition efficiency as the basis for its position. 1
- Take-Two InteractiveTTWO
Owns Zynga, which the company names among its main competitors in mobile games.
- Electronic ArtsEA
Large game publisher competing for players' time and discretionary spending.
- Light & WonderLNW
Owner of SciPlay, a direct competitor in social casino games.
- Tencent Holdings
Chinese gaming and technology group listed outside the United States, cited as a leading global competitor.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report19 Aug 2026Other events
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report12 Jun 2026Shareholder vote
- Current report08 May 2026Departure or appointment of officers · Financial statements and exhibits
- Current report08 May 2026Results of operations · Financial statements and exhibits
- Quarterly report07 May 2026
- Proxy statement29 Apr 2026
- Current report06 Apr 2026Regulation FD disclosure
- Current report (amendment)27 Mar 2026Departure or appointment of officers
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Playtika Holding Corp. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Playtika Holding Corp. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Playtika Holding Corp. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.