Valuation Result
Final Brand Value
Evolution — Technology
Valuation date: 10/29/2026
Total Brand Value
€463.2M
This result turns the selected legal, brand, benchmark and discount-rate assumptions into one reviewable brand value estimate.
Brand Strength
77/100
Royalty Rate
3.1%
Discount Rate
11.7%
Benchmark recommendation not unlocked for this result
Sensitivity snapshot
Quick decision check for discount rate, royalty rate and long-term growth.
Variable
Lower input
Current
Higher input
WACC (Discount Rate)
11.7%
-1.0%
€511.1M
11.7%
€463.2M
+1.0%
€423.7M
Royalty Rate
3.1%
-0.5%
€388.0M
3.1%
€463.2M
+0.5%
€538.4M
Terminal Growth
1.5%
-0.5%
€448.5M
1.5%
€463.2M
+0.5%
€479.4M
Brand Strength changes can also be explored to show their potential effect on brand value. Contact info@brandvaluator.se if you want to explore this for strategy, planning and budgeting.
Revenue Base
€1.8B
Legal Protection
64/100
Long-term Growth
1.5%
Recommendation basis
Brand-strength range • Pro
This reference case derives its royalty rate by applying the brand-strength score to a documented industry royalty ceiling.
This valuation uses benchmark support informed by external market references and curated internal calibration.
Use this section to confirm whether the result reflects unlocked benchmark guidance or a non-benchmark method.
Forecast profile
5 years explicit forecast
High growth: 2.0%
Base growth: 2.0%
Long-term growth: 1.5%
Value build
Value for planning period: €175.7M
Terminal value: €287.5M
How the valuation is built
Valuation Build
| Year | Revenue | Royalty | After Tax | PV |
|---|---|---|---|---|
| Y1 | €1,808,052,000 | €55,688,002 | €44,216,273 | €41,827,163 |
| Y2 | €1,844,213,040 | €56,801,762 | €45,100,599 | €38,177,820 |
| Y3 | €1,881,097,301 | €57,937,797 | €46,002,611 | €34,846,876 |
| Y4 | €1,918,719,247 | €59,096,553 | €46,922,663 | €31,806,550 |
| Y5 | €1,957,093,632 | €60,278,484 | €47,861,116 | €29,031,487 |
| Explicit PV (Y1–Y5) | €175,689,895 | |||
| Terminal Value (undiscounted) | €473,942,709 | |||
| Terminal PV (discounted) | €287,483,090 | |||
| Total Brand Value | €463,172,985 |
Supporting context
This section explains the evidence and judgment used to support the recommendation and the legal, brand and financial assumptions used in the valuation.
Reference case
Evolution
Prepared reference case
Indicative value of the Evolution B2B supplier name on FY2025 live-casino revenue. It does not value Evolution AB equity, game content, studios, technology, operator contracts, licences or RNG game and studio brands.
The 4.00% B2B supplier-name ceiling is an analyst scenario, not an observed licence. Brand strength 77/100 selects 3.08%, about EUR 54.6m opening royalty. That is 4.7% of adjusted EBITDA allocated in proportion to live revenue, a directional profit-capacity check, not live-name earnings. The 64/100 provisional legal score reflects gambling-market, territorial and regulatory exposure and adds 0.25 percentage points to the market discount-rate assumption. Scores are outside-in estimates, not survey findings or a legal opinion. The 20.6% tax rate is a modelling convention, not Evolution group effective tax.
Informed by numerous sources including company reporting, investor materials, analyst research, market data and selected benchmark references where relevant.
Key inputs
Reported = directly sourced • Estimated = selected judgment • Inferred = derived from broader evidence • Assumed = inclusion choice
Revenue base
EUR 1.773bn FY2025 live-casino revenue proxyinferred
Planning growth
2.00% for 3 years, then 2.00%estimated
Long-term growth
1.50%estimated
Royalty rate selected
3.08%estimated
Discount rate
11.75%estimated
Brand Strength
77/100 (B+)estimated
Legal analysis
64/100estimated
Company disclosures
These links lead to company-issued materials. BrandValuator cross-checks indicative estimates against multiple sources; the final assumptions and judgments are our own. Each input is labeled by evidence status above.
Legal Protection
trademark Status80
scope Of Rights68
risk Profile55
litigation60
contractual Rights65
goodwill Evidence73
regulatory Compliance50
Brand Strength
marketing Investment68
quality85
availability79
distinctive Brand Codes74
mental Availability79
consideration80
trust70
choice Share81
penetration77
price Elasticity73
revenue Premium77
margin Premium84
stability70