Modern Times Group MTG AB (FRA:MRTA) EV-to-EBIT: 17.03 (As of Jul. 29, 2026) — 51% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:MRTA Modern Times Group MTG AB FRA:MRTA
73 GF Score
Price €11.34
GF Value €15.49
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is Modern Times Group MTG AB EV-to-EBIT?

Modern Times Group MTG AB FRA:MRTA +0.62% 73 EV-to-EBIT is 17.03 as of Jul. 29, 2026, which is 51% above its 10-year median of 11.26. GuruFocus rates FRA:MRTA with a GF Score™ of 73/100 and a GF Value™ of €15.49 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 334 Interactive Media companies, Modern Times Group MTG AB ranks worse than 71.86% on this metric.

EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Modern Times Group MTG AB's Enterprise Value is €1,672 Mil. Modern Times Group MTG AB's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was €98 Mil. Therefore, Modern Times Group MTG AB's EV-to-EBIT for today is 17.03.

The historical rank and industry rank for Modern Times Group MTG AB's EV-to-EBIT or its related term are showing as below:

FRA:MRTA' s EV-to-EBIT Range Over the Past 10 Years
Min: -246   Med: 11.26   Max: 137.18
Current: 17.25

During the past 13 years, the highest EV-to-EBIT of Modern Times Group MTG AB was 137.18. The lowest was -246.00. And the median was 11.26.

FRA:MRTA's EV-to-EBIT is ranked worse than
71.86% of 334 companies
in the Interactive Media industry
Industry Median: 10.2 vs FRA:MRTA: 17.25

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %. Modern Times Group MTG AB's Enterprise Value for the quarter that ended in Jun. 2026 was €1,621 Mil. Modern Times Group MTG AB's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was €98 Mil. Modern Times Group MTG AB's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 6.05%.


Modern Times Group MTG AB  (FRA:MRTA) EV-to-EBIT Explanation

This is a more accurate valuation of companies' operation because it considers the debt and cash on its balance sheet, and non-operating items such as interest payment, tax, and one-time items are not included in the Operating Income.

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %.

Modern Times Group MTG AB's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

Earnings Yield (Joel Greenblatt) % (Q: Jun. 2026 ) =EBIT / Enterprise Value (Q: Jun. 2026 )
=98.167/1621.25542
=6.05 %

Modern Times Group MTG AB's Enterprise Value for the quarter that ended in Jun. 2026 was €1,621 Mil.
Modern Times Group MTG AB's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €98 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Modern Times Group MTG AB EV-to-EBIT Related Terms


Modern Times Group MTG AB EV-to-EBIT Historical Data

* Premium members only.

The historical data trend for Modern Times Group MTG AB's EV-to-EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Modern Times Group MTG AB EV-to-EBIT Chart

Modern Times Group MTG AB Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EV-to-EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 102.86 8.86 13.45 40.82 22.35

Modern Times Group MTG AB Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
EV-to-EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 18.88 20.01 22.35 14.35 16.64

FRA:MRTA vs NTES, EA, TTWO: EV-to-EBIT Comparison

For the Electronic Gaming & Multimedia subindustry, Modern Times Group MTG AB's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Modern Times Group MTG AB EV-to-EBIT vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Modern Times Group MTG AB's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Modern Times Group MTG AB's EV-to-EBIT falls into.


FRA:MRTA
73GF Score
Modern Times Group MTG AB FRA:MRTA
EV-to-EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Modern Times Group MTG AB EV-to-EBIT Calculation

Modern Times Group MTG AB's EV-to-EBIT for today is calculated as:

EV-to-EBIT=Enterprise Value (Today)/EBIT (TTM)
=1671.972/98.167
=17.03

Modern Times Group MTG AB's current Enterprise Value is €1,672 Mil.
Modern Times Group MTG AB's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €98 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EV-to-EBIT →
What does a EV-to-EBIT of 17.03 mean?
Modern Times Group MTG AB (FRA:MRTA) has a EV-to-EBIT of 17.03 as of Jul. 29, 2026. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Modern Times Group MTG AB and its competitors. This is 51% above median its historical median of 11.26. According to the industry distribution chart, Modern Times Group MTG AB ranks #240 out of 334 companies in the Interactive Media industry, placing it in the top 71.9%.
Is Modern Times Group MTG AB's EV-to-EBIT too high?
Modern Times Group MTG AB's current EV-to-EBIT of 17.03 is 51% above median its 10-year median of 11.26. The Interactive Media industry median EV-to-EBIT is 10.20. Modern Times Group MTG AB's value of 17.03 is 67% above this industry median. Based on the distribution chart, Modern Times Group MTG AB ranks #240 out of 334 companies in the Interactive Media industry, which is below the industry midpoint. Overall, Modern Times Group MTG AB has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Modern Times Group MTG AB's EV-to-EBIT compare to NTES and EA?
According to the Interactive Media industry distribution chart, Modern Times Group MTG AB ranks #240 out of 334 companies for EV-to-EBIT. This places Modern Times Group MTG AB in the lower half of its industry. The industry median EV-to-EBIT is 10.20. Modern Times Group MTG AB's value of 17.03 is 67% above this benchmark. While the company's 10-year median is 11.26 vs. the industry median of 10.20, Modern Times Group MTG AB has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBIT for an Interactive Media company?
The median EV-to-EBIT among Interactive Media companies is 10.20, based on 334 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBIT significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Modern Times Group MTG AB's current EV-to-EBIT of 17.03 is 67% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBIT mean?
A high EV-to-EBIT can signal that a stock is expensive relative to its fundamentals. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Modern Times Group MTG AB and its competitors. For the Interactive Media industry, the median EV-to-EBIT is 10.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Modern Times Group MTG AB's current EV-to-EBIT is 17.03, which is 51% above median its own 10-year median of 11.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Modern Times Group MTG AB stock overvalued right now?
Based on GuruFocus' analysis, Modern Times Group MTG AB (FRA:MRTA) is currently considered Modestly Undervalued. The stock's GF Value™ is €15.49, compared to a current price of €11.34 — trading 26.8% below its estimated fair value. The current EV-to-EBIT is 17.03, which is 51% above median its 10-year median of 11.26 and 67% above the Interactive Media industry median of 10.20. Modern Times Group MTG AB's overall GF Score™ is 73/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBIT calculated?
EV-to-EBIT is calculated from a company's financial statements. For Modern Times Group MTG AB (FRA:MRTA), the current EV-to-EBIT is 17.03 as of Jul. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Modern Times Group MTG AB (FRA:MRTA) Overvalued in 2026?

Based on GuruFocus' analysis, Modern Times Group MTG AB stock appears to be undervalued. The current stock price of €11.34 is trading 26.8% below its estimated GF Value™ of €15.49. GuruFocus considers Modern Times Group MTG AB to be Modestly Undervalued.

Key valuation signals for FRA:MRTA:

  • EV-to-EBIT: 17.03 (51% above median its 10-year median of 11.26)
  • GF Value™: €15.49 vs. price of €11.34 (26.8% below fair value)
  • GF Score™: 73/100 with 5 warning signs
  • Industry Position: 67% above the Interactive Media median (#240 of 334)

No single metric tells the full story. See the FRA:MRTA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Modern Times Group MTG AB Business Description

Address Skeppsbron 18, P.O. Box 2094, Stockholm, SWE, SE-103 13
Modern Times Group MTG AB owns and operates gaming companies and studios with popular IPs across a wide range of casual and mid-core genres. The company's portfolio covers a wide range of evergreen gaming franchises like RAID: Shadow Legends, Forge of Empires, Top Drives, and Bloons, as well as word games like CrossWord Jam and WordTrip. Its games generate revenues through in-app purchases, advertising, and from third-party distribution platforms. It operates in a single business segment.
73GF Score

Get the complete analysis for FRA:MRTA

EV-to-EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€11.34
Price
€15.49
GF Value