Logo

SGHC

Super Group (SGHC) Limited

SGHC

Super Group (SGHC) Limited • NYSE
$10.83 ▼ -0.91% (-0.10)
Market Cap $5.47 B
52w High $14.38
52w Low $5.45
Dividend Yield 0.27%
P/E 25.79
Volume 2.84M
Outstanding Shares 504.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $474.453M ▼ $38.331M ▼ $81.773M ▲ 17.235% ▲ $0.16 ▲ $125.231M ▲
Q2-2025 $579M ▲ $65M ▲ $-4M ▼ -0.691% ▼ $-0.008 ▼ $60M ▼
Q1-2025 $517M ▲ $61M ▼ $59M ▼ 11.412% ▼ $0.12 ▼ $109M ▲
Q4-2024 $428.943M ▼ $478.019M ▲ $63.35M ▲ 14.769% ▲ $0.13 ▲ $107.976M ▲
Q3-2024 $449.944M $67.119M $9.337M 2.075% $0.017 $48.838M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $485M ▲ $1.193B ▲ $450M ▼ $745M ▲
Q2-2025 $409M ▲ $1.117B ▲ $454M ▲ $665M ▲
Q1-2025 $365M ▼ $1.086B ▼ $444M ▼ $645M ▲
Q4-2024 $401.725M ▲ $1.095B ▲ $517.207M ▲ $580.154M ▼
Q3-2024 $331.3M $1.095B $460.97M $613.819M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $81.773M ▲ $0 $0 $0 $0 $0
Q2-2025 $-3.396M ▼ $0 $0 $0 $0 $0
Q1-2025 $54.534M ▼ $0 $0 $0 $0 $0
Q4-2024 $64.448M ▲ $0 $0 $0 $0 $0
Q3-2024 $8.36M $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Super Group’s income statement shows a business that is growing and generally profitable, but with some bumps along the way. Revenue has trended upward over the past several years, indicating steady customer and market expansion after a brief pause. Profitability at the operating level has stayed positive and has improved meaningfully in the most recent year, suggesting better cost control or more efficient marketing. Net profit, however, has been more volatile, including a small loss in an earlier year before returning to the black, which highlights exposure to swings in marketing spend, regulatory costs, and win/loss variability. Overall, it looks like a scalable online model with healthy margins but not immune to year‑to‑year earnings noise.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid and conservative for a gaming company. Total assets and shareholder equity have built up steadily, indicating reinvestment of profits and balance sheet strengthening since listing. Cash holdings are substantial compared with the company’s modest debt, effectively putting it in a net cash position rather than heavily leveraged. This provides a useful cushion against regulatory changes, customer volatility, and the cost of entering or scaling new markets. The low reliance on borrowing also gives management flexibility to pursue technology investments and acquisitions without stressing the capital structure too much.

Cash Flow

Cash Flow Cash flow is a clear strong point. The business has consistently generated cash from its operations, and this cash generation has generally improved over time in line with the growing scale of the company. After relatively modest spending on capital investments, free cash flow remains comfortably positive year after year, which is typical of an asset‑light online platform. This means the company can fund most of its growth, product development, and selective acquisitions from internally generated cash rather than depending heavily on external financing. It also supports the resilience of the model even when accounting earnings fluctuate.

Competitive Edge

Competitive Edge Super Group appears to have built a meaningful competitive position in online betting and gaming through brand strength, geographic diversification, and localized execution. The Betway brand benefits from global sports sponsorships and high visibility, while the Spin casino portfolio uses many targeted brands to better fit different cultures and player segments. Its early and deep presence in certain African markets, along with locally tailored platforms and payment integrations, creates practical barriers for new entrants and gives it a better understanding of local player behavior. At the same time, the company operates in a fiercely competitive and heavily regulated global industry, where marketing intensity, new market entrants, and shifting rules can quickly erode advantages if execution slips.

Innovation and R&D

Innovation and R&D Innovation for Super Group is centered on owning and controlling its core technology and using data intelligently. Bringing its sportsbook software fully in‑house gives it autonomy to adjust odds, features, and user experience quickly, and to leverage that platform across new markets or acquisitions. Its data analytics engine underpins personalized offers, more efficient marketing, and improved responsible gaming oversight, which can both enhance customer value and satisfy regulators. The launch of a rand‑pegged digital coin and planned digital wallet show a willingness to experiment with new payment and loyalty tools that could deepen customer engagement, especially in emerging markets, though they also introduce regulatory and execution uncertainties. Overall, the company appears to treat technology, data, and product innovation as core strategic assets rather than support functions.

Summary

Taken together, Super Group looks like a growing, cash‑generative online betting and gaming company with a relatively strong balance sheet and a clear technology‑driven strategy. Revenue has risen steadily and operating profitability has improved recently, though net earnings have been somewhat choppy and can be influenced by marketing intensity, regulatory factors, and game outcomes. The company’s net cash position and consistent free cash flow give it room to invest in technology, marketing, and acquisitions without taking on heavy debt. Its dual‑brand strategy, strong sports sponsorship presence, and localized platforms—especially in African markets—provide differentiation, while proprietary tech and data analytics deepen its moat. Key ongoing risks include regulatory changes, intense competition, customer acquisition costs, and the challenge of successfully integrating new technologies and acquisitions, all of which can make results volatile even for a fundamentally sound, scalable model.

NEWS

November 26, 2025 · 4:01 PM UTC

Super Group Comments on United Kingdom Autumn Statement

Read more

November 3, 2025 · 4:01 PM UTC

Super Group Reports Financial Results for Third Quarter of 2025

Read more

October 27, 2025 · 8:00 AM UTC

Super Group to Participate in Upcoming Investor Conferences

Read more

October 20, 2025 · 8:00 AM UTC

Super Group to Report Third Quarter 2025 Financial Results

Read more

September 17, 2025 · 4:08 PM UTC

Super Group Raises Full-Year 2025 Group Revenue and Adjusted EBITDA Guidance

Read more