Playtika

PLTK · Nasdaq · Communication Services · Financials, fiscal 2018 to 2025

PLTK · Last close · November 6, 2026

$2.44

Playtika's revenue rose 8.1% to $2.8 billion in fiscal 2025. Its operating margin was −0.2%, down from 15.4% a year earlier. Free cash flow was $531 million, up 18.3%. It paid out $150 million in dividends and buybacks, 28% of free cash flow. The diluted share count rose 1.0%.

PLAYTIKA HOLDING CORP. Latest fiscal year ended December 31, 2025 10-K filed February 26, 2026 · 0001828016-26-000010 Updated November 9, 2026

Revenue

$2.8B

8.1%

Operating margin

−0.2%

15.5 pts

Net income

−$206M

$162M a year earlier

Free cash flow

$531M

18.3%

Return on capital

−0.3%

16.1 pts

Market cap

$934M

Nov 6 close

P/E

—

Loss: no P/E

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both.

Revenue (left axis)Net income (right axis)

Gross profit, R&D and operating income

US$ billions, fiscal years. Gross profit is revenue minus the cost of what was sold; research and development is one of the costs paid from it; what remains after all operating costs is operating income. Losses in red.

Gross profitResearch and developmentOperating income

Margins

Percent of revenue

GrossOperatingNetFree cash flow

From fiscal 2018 to 2024, earnings per share fell 11.1% a year and net income 11.5% a year, while the share count fell by 2%. Playtika then lost money in fiscal 2025.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Balance sheet

Cash and debt

US$ billions, at each fiscal year end. Debt includes finance leases.

Cash and short-term investmentsDebt

Assets, liabilities and equity

US$ billions, at each fiscal year end. Assets equal liabilities plus equity; negative equity in red.

Total assetsTotal liabilitiesShareholders' equity

Debt and liquidity ratios

Times. Debt to equity, current assets over current liabilities, and net debt over EBITDA (a full year's).

Debt to equityCurrent ratioNet debt to EBITDA

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Cash and short-term investments	1,117	769	1,030	566	820
Debt incl. finance leases	2,423	2,424	2,416	2,400	2,389
Net debt (negative means net cash)	1,306	1,655	1,387	1,834	1,569
Net debt to EBITDA	1.9x	2.6x	2.1x	3.3x	6.8x
Debt to equity	—	—	—	—	—
Interest coverage	3.8x	4.0x	3.2x	2.5x	−0.0x
Current ratio	2.3x	2.2x	2.5x	1.6x	1.1x
Quick ratio	2.3x	2.2x	2.5x	1.6x	1.1x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Cash flow

Cash from operations, capital spending and free cash flow

US$ billions, fiscal years. Free cash flow is cash from operations minus capital spending; negative years in red.

Cash from operationsCapital spendingFree cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Playtika's revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them, or value it with a discounted cash flow model. Every projected figure is yours: it is not a forecast of ours.

Open Playtika's projections

Insider trades

No officer, director or 10% owner of Playtika reported buying or selling its shares on the open market between November 7, 2025 and November 6, 2026.

From Form 4 filings with the SEC. Grants, option exercises and shares withheld for tax aren't counted. Insider trades at all companies

Indicators

Four widely used measures, worked out from the company's filings. The cutoffs are the ones their authors or users go by, not a verdict of ours.

Indicator	FY23	FY24	FY25
Piotroski F-score	8 of 9	5 of 9	3 of 9
Rule of 40	17.0%	16.9%	27.4%
Altman Z''	1.74	0.45	−1.04
Accruals ratio	−9.6%	−9.6%	−21.0%

Piotroski F-score: how many of nine simple tests of profitability, funding and efficiency the company passed in the year (Piotroski, 2000); 8 or 9 is strong, 0 to 2 weak. Rule of 40: revenue growth plus free cash flow margin; software investors treat 40% or more as the bar. Altman Z'': working capital, retained earnings, operating income and equity weighed against assets and liabilities (Altman, 1995); Altman puts above 2.6 in the safe zone and below 1.1 in the distress zone. Accruals ratio: net income minus cash from operations, over average total assets; lower means profit is backed by cash.

The nine F-score tests

Test	FY23	FY24	FY25
Net income is positive	Pass	Pass	Fail
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Fail	Fail	Fail
Cash from operations exceeds net income	Pass	Pass	Pass
Debt fell relative to assets	Pass	Pass	Pass
Current ratio rose	Pass	Fail	Fail
Share count didn't rise	Pass	Fail	Fail
Gross margin rose	Pass	Pass	Fail
Revenue rose relative to assets	Pass	Fail	Fail
F-score	8 of 9	5 of 9	3 of 9

Companies that report no gross profit are scored on the other eight.

Compare

Put Playtika side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Playtika	FY25	8.1%	−0.2%	19.3%	−0.3%	6.8x	3
Pinterest	FY25	15.8%	7.6%	29.6%	13.2%	−7.2x	5	Compare
Roblox	FY25	35.8%	−25.2%	27.7%	—	—	6	Compare
Take-Two Interactive	FY26	18.2%	−1.6%	6.9%	−2.0%	5.6x	7	Compare
NetEase	FY25	7.0%	31.8%	44.1%	—	—	—	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score under Indicators.

8 years of figures

Fiscal year	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	1,491	1,888	2,372	2,583	2,616	2,567	2,549	2,755
Revenue growth	—	26.6%	25.6%	8.9%	1.3%	−1.9%	−0.7%	8.1%
Gross profit	1,054	1,321	1,659	1,854	1,880	1,848	1,857	1,997
Research and development	148	210	269	387	472	406	403	427
Operating income	433	497	387	562	471	502	392	−5
Net income	338	289	92	308	275	235	162	−206
Diluted EPS (US$)	0.89	0.76	0.24	0.75	0.69	0.64	0.44	−0.55
Diluted shares (millions)	378	378	385	411	402	367	372	376
Cash flow
Cash from operations	453	492	518	552	494	516	490	568
Capital expenditure	41	55	54	47	68	33	41	36
Free cash flow	412	437	464	504	425	483	449	531
Dividends paid	400	2,366	0	0	0	0	112	150
Share buybacks	0	0	0	0	0	0	0	0
Acquisitions	3	423	0	394	30	160	687	0
Stock-based compensation	0	0	276	100	124	110	99	82
Balance sheet at fiscal year end
Cash and short-term investments	306	267	520	1,117	769	1,030	566	820
Debt incl. finance leases	—	2,320	2,210	2,423	2,424	2,416	2,400	2,389
Total assets	—	1,480	1,776	2,803	2,698	3,175	3,639	3,719
Total liabilities	—	3,096	3,020	3,181	3,266	3,396	3,770	4,130
Shareholders' equity	465	−1,616	−1,244	−378	−569	−222	−131	−411
Margins and ratios
Gross margin	70.7%	70.0%	70.0%	71.8%	71.9%	72.0%	72.8%	72.5%
Operating margin	29.0%	26.4%	16.3%	21.8%	18.0%	19.5%	15.4%	−0.2%
Net margin	22.7%	15.3%	3.9%	11.9%	10.5%	9.2%	6.4%	−7.5%
Free cash flow margin	27.6%	23.1%	19.6%	19.5%	16.3%	18.8%	17.6%	19.3%
Rule of 40 (growth + FCF margin)	—	49.8%	45.2%	28.4%	17.5%	17.0%	16.9%	27.4%
Return on capital	—	—	43.8%	61.8%	35.7%	26.7%	15.8%	−0.3%
Return on equity	—	—	—	—	—	—	—	—
Return on assets	—	—	5.7%	13.5%	10.0%	8.0%	4.8%	−5.6%
Net debt to EBITDA	—	3.6x	3.3x	1.9x	2.6x	2.1x	3.3x	6.8x

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Playtika's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Playtika.