# Electronic Gaming & Multimedia — company-by-company sector analysis

> Electronic Gaming & Multimedia: Electronic Arts Inc. owns the largest revenue base; Sohu.com Limited has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

Electronic Gaming & Multimedia has underperformed S&P 500 by 6.4% over 52 weeks and 0.6% over 13 weeks. 4 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 9 beat the sector itself. Electronic Arts Inc. leads with revenue of $7,531 million, based on 8 of 9 comparable companies through Mar 2026.

### Is the Electronic Gaming & Multimedia sector outperforming S&P 500?

Electronic Gaming & Multimedia has underperformed S&P 500 by 6.4% over 52 weeks and 0.6% over 13 weeks. 4 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 9 beat the sector itself.

### Which Electronic Gaming & Multimedia company is largest by revenue?

Electronic Arts Inc. leads with revenue of $7,531 million, based on 8 of 9 comparable companies through Mar 2026.

### Which Electronic Gaming & Multimedia company is growing fastest?

Sohu.com Limited has the fastest current revenue growth at 100%, across 8 of 9 comparable companies.

### Which Electronic Gaming & Multimedia company has the strongest 4-Factor Sector Score?

DoubleDown Interactive Co., Ltd. ranks first at 59.5/100 with 76.2% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Electronic Gaming & Multimedia company reports the most CAPEX?

Electronic Arts Inc. reports the largest latest CAPEX at $61 million, with 9 of 9 companies comparable.

### Which Electronic Gaming & Multimedia company has the least gross debt?

Sohu.com Limited has the lowest comparable gross debt at $0 million. Take-Two Interactive Software, Inc. has the highest at $2,958 million.

### Which Electronic Gaming & Multimedia company has the lowest comparable PEG?

Electronic Arts Inc. has the lowest comparable Guarded PEG at 5.15, among 1 of 9 companies that pass the metric’s comparability rules.

### How much history does this Electronic Gaming & Multimedia comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Electronic Gaming & Multimedia has underperformed S&P 500 by 6.4% over the last 52 weeks. Over 13 weeks the gap is a lead of 0.6%. 4 of 9 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Firy Inc. is the strongest against the sector itself at +45.3%.

13-week sector return versus NIFTY 500: 0.6%
52-week sector return versus NIFTY 500: -6.4%
Stocks leading NIFTY: 4/9
Stocks leading sector: 4/9

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 9
Combined market value: ₹1.4 L Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. DoubleDown Interactive Co., Ltd. (DDI): 60/100 — Mixed-positive evidence; evidence 76%
   - Growth & earnings 15.4/35 | Capital efficiency 16.5/25 | Valuation 11.5/20 | Relative strength 16.1/20
   - Exact sum: 15.4 + 16.5 + 11.5 + 16.1 = 59.5
   - Decision use: Price leads the evidence: RS versus the benchmark is 12.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
2. Take-Two Interactive Software, Inc. (TTWO): 56/100 — Mixed-positive evidence; evidence 68%
   - Growth & earnings 24.7/35 | Capital efficiency 10.2/25 | Valuation 8.5/20 | Relative strength 12.1/20
   - Exact sum: 24.7 + 10.2 + 8.5 + 12.1 = 55.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. GDEV Inc. (GDEV): 56/100 — Mixed-positive evidence; evidence 60%
   - Growth & earnings 23.3/35 | Capital efficiency 17.6/25 | Valuation 10.5/20 | Relative strength 4.1/20
   - Exact sum: 23.3 + 17.6 + 10.5 + 4.1 = 55.5
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -36.1% and the one-year return is -18%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
4. Firy Inc. (FIRY): 53/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 21.1/35 | Capital efficiency 4.9/25 | Valuation 10.0/20 | Relative strength 17.0/20
   - Exact sum: 21.1 + 4.9 + 10 + 17 = 53
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5. Sohu.com Limited (SOHU): 49/100 — Mixed-negative evidence; evidence 70%
   - Growth & earnings 20.1/35 | Capital efficiency 12.5/25 | Valuation 11.0/20 | Relative strength 5.3/20
   - Exact sum: 20.1 + 12.5 + 11 + 5.3 = 48.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. Electronic Arts Inc. (EA): 43/100 — Mixed-negative evidence; evidence 86%
   - Growth & earnings 17.7/35 | Capital efficiency 16.7/25 | Valuation 4.0/20 | Relative strength 4.4/20
   - Exact sum: 17.7 + 16.7 + 4 + 4.4 = 42.8
   - Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
7. Playtika Holding Corp. (PLTK): 37/100 — Mixed-negative evidence; evidence 65%
   - Growth & earnings 5.3/35 | Capital efficiency 10.3/25 | Valuation 10.0/20 | Relative strength 11.8/20
   - Exact sum: 5.3 + 10.3 + 10 + 11.8 = 37.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8. Roblox Corporation (RBLX): 37/100 — Mixed-negative evidence; evidence 65%
   - Growth & earnings 18.2/35 | Capital efficiency 2.8/25 | Valuation 10.0/20 | Relative strength 6.0/20
   - Exact sum: 18.2 + 2.8 + 10 + 6 = 37
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9. CTW (CTW): 50/100 — Thin evidence · provisional; evidence 34%
   - Growth & earnings 16.2/35 | Capital efficiency 9.9/25 | Valuation 9.5/20 | Relative strength 14.5/20
   - Exact sum: 16.2 + 9.9 + 9.5 + 14.5 = 50.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Revenue Scale & Growth Durability

What the numbers say: Electronic Arts Inc. is the scale leader at $7,531 million, 13.1% ahead of Take-Two Interactive Software, Inc.. Sohu.com Limited's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 129.7% from a $1,022 million base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Electronic Arts Inc. is the scale benchmark; Sohu.com Limited is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Electronic Arts Inc.'s growth falls below Sohu.com Limited's for two consecutive comparable reports while operating margin also compresses.

Evidence: Electronic Arts Inc. · $7,531 million | 13.1% versus #2 · Take-Two Interactive Software, Inc. | 5/8 recent comparable periods | 8/9 companies · 161 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Electronic Arts Inc. (EA): ₹7.5K Cr
2. Take-Two Interactive Software, Inc. (TTWO): ₹6.7K Cr
3. Roblox Corporation (RBLX): ₹5.3K Cr
4. Playtika Holding Corp. (PLTK): ₹2.8K Cr
5. Sohu.com Limited (SOHU): ₹1.0K Cr

### Revenue growth — fastest growers
1. Sohu.com Limited (SOHU): 100%
2. Roblox Corporation (RBLX): 38%
3. Firy Inc. (FIRY): 23%
4. Take-Two Interactive Software, Inc. (TTWO): 18%
5. DoubleDown Interactive Co., Ltd. (DDI): 10%

### 20-quarter Revenue history
- EA: Jun 2021 ₹1.6K Cr | Sep 2021 ₹1.8K Cr | Dec 2021 ₹1.8K Cr | Mar 2022 ₹1.8K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹1.9K Cr | Mar 2023 ₹1.9K Cr | Jun 2023 ₹1.9K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹1.9K Cr | Mar 2024 ₹1.8K Cr | Jun 2024 ₹1.7K Cr | Sep 2024 ₹2.0K Cr | Dec 2024 ₹1.9K Cr | Mar 2025 ₹1.9K Cr | Jun 2025 ₹1.7K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.9K Cr | Mar 2026 ₹2.1K Cr
- TTWO: Jun 2021 ₹813 Cr | Sep 2021 ₹858 Cr | Dec 2021 ₹903 Cr | Mar 2022 ₹930 Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.4K Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.3K Cr | Dec 2023 ₹1.4K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.4K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.7K Cr | Mar 2026 ₹1.7K Cr
- RBLX: Jun 2021 ₹454 Cr | Sep 2021 ₹509 Cr | Dec 2021 ₹569 Cr | Mar 2022 ₹537 Cr | Jun 2022 ₹591 Cr | Sep 2022 ₹518 Cr | Dec 2022 ₹579 Cr | Mar 2023 ₹655 Cr | Jun 2023 ₹681 Cr | Sep 2023 ₹713 Cr | Dec 2023 ₹750 Cr | Mar 2024 ₹801 Cr | Jun 2024 ₹894 Cr | Sep 2024 ₹919 Cr | Dec 2024 ₹988 Cr | Mar 2025 ₹1.0K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.4K Cr
- PLTK: Jun 2021 ₹659 Cr | Sep 2021 ₹636 Cr | Dec 2021 ₹649 Cr | Mar 2022 ₹677 Cr | Jun 2022 ₹660 Cr | Sep 2022 ₹648 Cr | Dec 2022 ₹631 Cr | Mar 2023 ₹656 Cr | Jun 2023 ₹643 Cr | Sep 2023 ₹630 Cr | Dec 2023 ₹638 Cr | Mar 2024 ₹651 Cr | Jun 2024 ₹627 Cr | Sep 2024 ₹621 Cr | Dec 2024 ₹650 Cr | Mar 2025 ₹706 Cr | Jun 2025 ₹696 Cr | Sep 2025 ₹675 Cr | Dec 2025 ₹679 Cr | Mar 2026 ₹745 Cr
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 ₹85 Cr | Jun 2022 ₹81 Cr | Sep 2022 ₹79 Cr | Dec 2022 ₹76 Cr | Mar 2023 ₹78 Cr | Jun 2023 ₹75 Cr | Sep 2023 ₹73 Cr | Dec 2023 ₹83 Cr | Mar 2024 ₹88 Cr | Jun 2024 ₹88 Cr | Sep 2024 ₹83 Cr | Dec 2024 ₹82 Cr | Mar 2025 ₹83 Cr | Jun 2025 ₹85 Cr | Sep 2025 ₹96 Cr | Dec 2025 ₹96 Cr | Mar 2026 ₹94 Cr
- SOHU: Jun 2021 ₹204 Cr | Sep 2021 ₹216 Cr | Dec 2021 ₹193 Cr | Mar 2022 ₹193 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹185 Cr | Dec 2022 ₹160 Cr | Mar 2023 ₹162 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹145 Cr | Dec 2023 ₹141 Cr | Mar 2024 ₹139 Cr | Jun 2024 ₹172 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹135 Cr | Mar 2025 ₹136 Cr | Jun 2025 ₹126 Cr | Sep 2025 ₹180 Cr | Dec 2025 ₹575 Cr | Mar 2026 ₹141 Cr
- GDEV: Jun 2021 ₹110 Cr | Sep 2021 ₹115 Cr | Dec 2021 ₹123 Cr | Mar 2022 ₹127 Cr | Jun 2022 ₹126 Cr | Sep 2022 ₹128 Cr | Dec 2022 ₹99 Cr | Mar 2023 ₹119 Cr | Jun 2023 ₹115 Cr | Sep 2023 ₹121 Cr | Dec 2023 ₹109 Cr | Mar 2024 ₹107 Cr | Jun 2024 ₹106 Cr | Sep 2024 ₹104 Cr | Dec 2024 ₹104 Cr | Mar 2025 ₹97 Cr | Jun 2025 ₹120 Cr | Sep 2025 ₹94 Cr | Dec 2025 ₹94 Cr | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹33 Cr | Jun 2024 — | Sep 2024 ₹35 Cr | Dec 2024 — | Mar 2025 ₹41 Cr | Jun 2025 — | Sep 2025 ₹49 Cr | Dec 2025 — | Mar 2026 ₹41 Cr
- FIRY: Jun 2021 ₹89 Cr | Sep 2021 ₹102 Cr | Dec 2021 ₹105 Cr | Mar 2022 ₹92 Cr | Jun 2022 ₹72 Cr | Sep 2022 ₹59 Cr | Dec 2022 ₹47 Cr | Mar 2023 ₹44 Cr | Jun 2023 ₹40 Cr | Sep 2023 ₹36 Cr | Dec 2023 ₹31 Cr | Mar 2024 ₹25 Cr | Jun 2024 ₹25 Cr | Sep 2024 ₹25 Cr | Dec 2024 ₹18 Cr | Mar 2025 ₹22 Cr | Jun 2025 ₹25 Cr | Sep 2025 ₹27 Cr | Dec 2025 ₹30 Cr | Mar 2026 ₹29 Cr

### 20-quarter Revenue growth history
- EA: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 14% | Sep 2022 4.3% | Dec 2022 5.1% | Mar 2023 2.7% | Jun 2023 8.9% | Sep 2023 0.5% | Dec 2023 3.4% | Mar 2024 -5.1% | Jun 2024 -14% | Sep 2024 5.8% | Dec 2024 -3.2% | Mar 2025 6.5% | Jun 2025 0.7% | Sep 2025 -9.2% | Dec 2025 1.0% | Mar 2026 12%
- TTWO: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 36% | Sep 2022 62% | Dec 2022 56% | Mar 2023 55% | Jun 2023 17% | Sep 2023 -6.8% | Dec 2023 -3.0% | Mar 2024 -3.3% | Jun 2024 4.1% | Sep 2024 4.2% | Dec 2024 -0.4% | Mar 2025 13% | Jun 2025 12% | Sep 2025 31% | Dec 2025 25% | Mar 2026 6.1%
- RBLX: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 30% | Sep 2022 1.8% | Dec 2022 1.8% | Mar 2023 22% | Jun 2023 15% | Sep 2023 38% | Dec 2023 30% | Mar 2024 22% | Jun 2024 31% | Sep 2024 29% | Dec 2024 32% | Mar 2025 29% | Jun 2025 21% | Sep 2025 48% | Dec 2025 43% | Mar 2026 39%
- PLTK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.2% | Sep 2022 1.9% | Dec 2022 -2.8% | Mar 2023 -3.1% | Jun 2023 -2.6% | Sep 2023 -2.8% | Dec 2023 1.1% | Mar 2024 -0.8% | Jun 2024 -2.5% | Sep 2024 -1.4% | Dec 2024 1.9% | Mar 2025 8.5% | Jun 2025 11% | Sep 2025 8.7% | Dec 2025 4.5% | Mar 2026 5.5%
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 -12% | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -8.2% | Jun 2023 -7.4% | Sep 2023 -7.6% | Dec 2023 9.2% | Mar 2024 13% | Jun 2024 17% | Sep 2024 14% | Dec 2024 -1.2% | Mar 2025 -5.7% | Jun 2025 -3.4% | Sep 2025 16% | Dec 2025 17% | Mar 2026 13%
- SOHU: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -100% | Sep 2022 -14% | Dec 2022 -17% | Mar 2023 -16% | Jun 2023 — | Sep 2023 -22% | Dec 2023 -12% | Mar 2024 -14% | Jun 2024 — | Sep 2024 -99% | Dec 2024 -4.3% | Mar 2025 -2.2% | Jun 2025 -27% | Sep 2025 8,900% | Dec 2025 326% | Mar 2026 3.7%
- GDEV: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 46% | Jun 2022 15% | Sep 2022 11% | Dec 2022 -20% | Mar 2023 -6.3% | Jun 2023 -8.7% | Sep 2023 -5.5% | Dec 2023 10% | Mar 2024 -10% | Jun 2024 -7.8% | Sep 2024 -14% | Dec 2024 -4.6% | Mar 2025 -9.4% | Jun 2025 13% | Sep 2025 -9.6% | Dec 2025 -9.6% | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 24% | Jun 2025 — | Sep 2025 40% | Dec 2025 — | Mar 2026 0.0%
- FIRY: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -19% | Sep 2022 -42% | Dec 2022 -55% | Mar 2023 -52% | Jun 2023 -44% | Sep 2023 -39% | Dec 2023 -34% | Mar 2024 -43% | Jun 2024 -38% | Sep 2024 -31% | Dec 2024 -42% | Mar 2025 -12% | Jun 2025 0.0% | Sep 2025 8.0% | Dec 2025 67% | Mar 2026 32%

## Operating Economics & Margin Trend

What the numbers say: DoubleDown Interactive Co., Ltd. leads opm at 37.6%; Take-Two Interactive Software, Inc. leads margin change at +239.3 percentage points.

Investor read: DoubleDown Interactive Co., Ltd. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: DoubleDown Interactive Co., Ltd. · 37.6% | 41.4% versus #2 · Electronic Arts Inc. | 4/8 recent comparable periods | 8/9 companies · 156 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. DoubleDown Interactive Co., Ltd. (DDI): 38%
2. Electronic Arts Inc. (EA): 27%
3. GDEV Inc. (GDEV): 21%
4. Take-Two Interactive Software, Inc. (TTWO): 0.6%
5. Sohu.com Limited (SOHU): -4.8%

### Margin change — fastest expanders
1. Take-Two Interactive Software, Inc. (TTWO): +239.3 pp
2. Firy Inc. (FIRY): +40.6 pp
3. Sohu.com Limited (SOHU): +9.2 pp
4. GDEV Inc. (GDEV): +8.4 pp
5. Electronic Arts Inc. (EA): +5.8 pp

### 20-quarter OPM history
- EA: Jun 2021 21% | Sep 2021 19% | Dec 2021 5.7% | Mar 2022 20% | Jun 2022 25% | Sep 2022 22% | Dec 2022 15% | Mar 2023 9.3% | Jun 2023 28% | Sep 2023 20% | Dec 2023 19% | Mar 2024 13% | Jun 2024 22% | Sep 2024 19% | Dec 2024 20% | Mar 2025 21% | Jun 2025 16% | Sep 2025 11% | Dec 2025 6.7% | Mar 2026 27%
- TTWO: Jun 2021 21% | Sep 2021 2.3% | Dec 2021 17% | Mar 2022 14% | Jun 2022 -3.4% | Sep 2022 -18% | Dec 2022 -12% | Mar 2023 -49% | Jun 2023 -16% | Sep 2023 -42% | Dec 2023 -9.5% | Mar 2024 -194% | Jun 2024 -14% | Sep 2024 -22% | Dec 2024 -9.7% | Mar 2025 -239% | Jun 2025 1.4% | Sep 2025 -5.5% | Dec 2025 -2.3% | Mar 2026 0.6%
- RBLX: Jun 2021 -32% | Sep 2021 -15% | Dec 2021 -25% | Mar 2022 -28% | Jun 2022 -29% | Sep 2022 -58% | Dec 2022 -52% | Mar 2023 -44% | Jun 2023 -46% | Sep 2023 -42% | Dec 2023 -47% | Mar 2024 -38% | Jun 2024 -27% | Sep 2024 -30% | Dec 2024 -25% | Mar 2025 -25% | Jun 2025 -30% | Sep 2025 -22% | Dec 2025 -25% | Mar 2026 -20%
- PLTK: Jun 2021 25% | Sep 2021 24% | Dec 2021 17% | Mar 2022 18% | Jun 2022 14% | Sep 2022 20% | Dec 2022 20% | Mar 2023 23% | Jun 2023 22% | Sep 2023 14% | Dec 2023 19% | Mar 2024 15% | Jun 2024 22% | Sep 2024 16% | Dec 2024 8.5% | Mar 2025 9.6% | Jun 2025 16% | Sep 2025 15% | Dec 2025 -41% | Mar 2026 -6.7%
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 29% | Jun 2022 -60% | Sep 2022 -58% | Dec 2022 -322% | Mar 2023 33% | Jun 2023 37% | Sep 2023 41% | Dec 2023 43% | Mar 2024 35% | Jun 2024 41% | Sep 2024 43% | Dec 2024 42% | Mar 2025 36% | Jun 2025 38% | Sep 2025 37% | Dec 2025 31% | Mar 2026 38%
- SOHU: Jun 2021 12% | Sep 2021 12% | Dec 2021 -1.5% | Mar 2022 6.6% | Jun 2022 -86% | Sep 2022 -9.7% | Dec 2022 -3.5% | Mar 2023 -11% | Jun 2023 -363% | Sep 2023 -14% | Dec 2023 -18% | Mar 2024 -19% | Jun 2024 -26% | Sep 2024 -276% | Dec 2024 -19% | Mar 2025 -14% | Jun 2025 -18% | Sep 2025 7.5% | Dec 2025 -7.8% | Mar 2026 -4.8%
- GDEV: Jun 2021 -14% | Sep 2021 -97% | Dec 2021 8.8% | Mar 2022 20% | Jun 2022 34% | Sep 2022 35% | Dec 2022 -76% | Mar 2023 -11% | Jun 2023 13% | Sep 2023 24% | Dec 2023 7.4% | Mar 2024 0.0% | Jun 2024 14% | Sep 2024 12% | Dec 2024 12% | Mar 2025 14% | Jun 2025 16% | Sep 2025 21% | Dec 2025 21% | Mar 2026 —
- FIRY: Jun 2021 -56% | Sep 2021 -80% | Dec 2021 -106% | Mar 2022 -159% | Jun 2022 -78% | Sep 2022 -135% | Dec 2022 -297% | Mar 2023 -72% | Jun 2023 -75% | Sep 2023 -86% | Dec 2023 -66% | Mar 2024 -107% | Jun 2024 101% | Sep 2024 -86% | Dec 2024 -136% | Mar 2025 -71% | Jun 2025 -63% | Sep 2025 -59% | Dec 2025 -54% | Mar 2026 -30%

### 20-quarter Margin change history
- EA: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +4.2 pp | Sep 2022 +3.8 pp | Dec 2022 +9.7 pp | Mar 2023 −10.7 pp | Jun 2023 +3.2 pp | Sep 2023 −2.7 pp | Dec 2023 +3.4 pp | Mar 2024 +3.9 pp | Jun 2024 −6.3 pp | Sep 2024 −0.7 pp | Dec 2024 +1.2 pp | Mar 2025 +7.6 pp | Jun 2025 −5.7 pp | Sep 2025 −8.1 pp | Dec 2025 −13.3 pp | Mar 2026 +5.8 pp
- TTWO: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −24.4 pp | Sep 2022 −20.4 pp | Dec 2022 −29.4 pp | Mar 2023 −62.5 pp | Jun 2023 −12.5 pp | Sep 2023 −23.7 pp | Dec 2023 +2.8 pp | Mar 2024 −145.3 pp | Jun 2024 +2.1 pp | Sep 2024 +19.8 pp | Dec 2024 −0.2 pp | Mar 2025 −44.8 pp | Jun 2025 +15.2 pp | Sep 2025 +16.5 pp | Dec 2025 +7.4 pp | Mar 2026 +239.3 pp
- RBLX: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +2.7 pp | Sep 2022 −42.7 pp | Dec 2022 −27.5 pp | Mar 2023 −16.0 pp | Jun 2023 −17.3 pp | Sep 2023 +15.8 pp | Dec 2023 +4.7 pp | Mar 2024 +6.5 pp | Jun 2024 +19.5 pp | Sep 2024 +11.7 pp | Dec 2024 +22.7 pp | Mar 2025 +13.1 pp | Jun 2025 −3.2 pp | Sep 2025 +8.6 pp | Dec 2025 −0.6 pp | Mar 2026 +4.2 pp
- PLTK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −11.3 pp | Sep 2022 −4.0 pp | Dec 2022 +3.0 pp | Mar 2023 +5.4 pp | Jun 2023 +7.9 pp | Sep 2023 −6.0 pp | Dec 2023 −1.5 pp | Mar 2024 −8.1 pp | Jun 2024 +0.7 pp | Sep 2024 +1.4 pp | Dec 2024 −10.3 pp | Mar 2025 −5.5 pp | Jun 2025 −6.6 pp | Sep 2025 −1.1 pp | Dec 2025 −49.9 pp | Mar 2026 −16.3 pp
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 +2.4 pp | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +3.8 pp | Jun 2023 +96.2 pp | Sep 2023 +98.2 pp | Dec 2023 +364.9 pp | Mar 2024 +2.6 pp | Jun 2024 +4.6 pp | Sep 2024 +1.9 pp | Dec 2024 −1.2 pp | Mar 2025 +0.2 pp | Jun 2025 −3.0 pp | Sep 2025 −6.1 pp | Dec 2025 −10.5 pp | Mar 2026 +2.1 pp
- SOHU: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −97.6 pp | Sep 2022 −21.2 pp | Dec 2022 −2.0 pp | Mar 2023 −18.0 pp | Jun 2023 −277.2 pp | Sep 2023 −4.5 pp | Dec 2023 −14.4 pp | Mar 2024 −7.9 pp | Jun 2024 +337.0 pp | Sep 2024 −261.8 pp | Dec 2024 −0.8 pp | Mar 2025 +5.3 pp | Jun 2025 +8.0 pp | Sep 2025 +283.5 pp | Dec 2025 +10.9 pp | Mar 2026 +9.2 pp
- GDEV: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 +28.6 pp | Jun 2022 +48.6 pp | Sep 2022 +131.2 pp | Dec 2022 −85.1 pp | Mar 2023 −31.7 pp | Jun 2023 −21.5 pp | Sep 2023 −10.6 pp | Dec 2023 +83.7 pp | Mar 2024 +11.3 pp | Jun 2024 +1.5 pp | Sep 2024 −11.7 pp | Dec 2024 +4.8 pp | Mar 2025 +14.3 pp | Jun 2025 +1.1 pp | Sep 2025 +8.4 pp | Dec 2025 +8.4 pp | Mar 2026 —
- FIRY: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −22.3 pp | Sep 2022 −55.0 pp | Dec 2022 −191.5 pp | Mar 2023 +86.7 pp | Jun 2023 +2.9 pp | Sep 2023 +48.7 pp | Dec 2023 +231.0 pp | Mar 2024 −34.2 pp | Jun 2024 +176.5 pp | Sep 2024 +0.8 pp | Dec 2024 −70.4 pp | Mar 2025 +35.8 pp | Jun 2025 −164.6 pp | Sep 2025 +26.1 pp | Dec 2025 +82.5 pp | Mar 2026 +40.6 pp

## Profit Scale & Acceleration

What the numbers say: Electronic Arts Inc. leads with $887 million of TTM profit, 678.1% above DoubleDown Interactive Co., Ltd.. GDEV Inc. shows ≥100% on the scoring scale (165.4% uncapped) growth from a $69 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Electronic Arts Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Electronic Arts Inc. · $887 million | 678.1% versus #2 · DoubleDown Interactive Co., Ltd. | 3/8 recent comparable periods | 8/9 companies · 161 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Electronic Arts Inc. (EA): ₹887 Cr
2. DoubleDown Interactive Co., Ltd. (DDI): ₹114 Cr
3. GDEV Inc. (GDEV): ₹69 Cr
4. Sohu.com Limited (SOHU): ₹-32 Cr
5. Firy Inc. (FIRY): ₹-64 Cr

### Profit growth — fastest growers
1. GDEV Inc. (GDEV): 100%
2. DoubleDown Interactive Co., Ltd. (DDI): -3.4%
3. Electronic Arts Inc. (EA): -21%
4. Sohu.com Limited (SOHU): -127%
5. Playtika Holding Corp. (PLTK): -311%

### 20-quarter Net profit history
- EA: Jun 2021 ₹204 Cr | Sep 2021 ₹294 Cr | Dec 2021 ₹66 Cr | Mar 2022 ₹225 Cr | Jun 2022 ₹311 Cr | Sep 2022 ₹299 Cr | Dec 2022 ₹204 Cr | Mar 2023 ₹-12 Cr | Jun 2023 ₹402 Cr | Sep 2023 ₹399 Cr | Dec 2023 ₹290 Cr | Mar 2024 ₹182 Cr | Jun 2024 ₹280 Cr | Sep 2024 ₹294 Cr | Dec 2024 ₹293 Cr | Mar 2025 ₹254 Cr | Jun 2025 ₹201 Cr | Sep 2025 ₹137 Cr | Dec 2025 ₹88 Cr | Mar 2026 ₹461 Cr
- TTWO: Jun 2021 ₹152 Cr | Sep 2021 ₹10 Cr | Dec 2021 ₹145 Cr | Mar 2022 ₹111 Cr | Jun 2022 ₹-104 Cr | Sep 2022 ₹-257 Cr | Dec 2022 ₹-153 Cr | Mar 2023 ₹-610 Cr | Jun 2023 ₹-206 Cr | Sep 2023 ₹-544 Cr | Dec 2023 ₹-92 Cr | Mar 2024 ₹-2.9K Cr | Jun 2024 ₹-262 Cr | Sep 2024 ₹-366 Cr | Dec 2024 ₹-125 Cr | Mar 2025 ₹-3.7K Cr | Jun 2025 ₹-12 Cr | Sep 2025 ₹-134 Cr | Dec 2025 ₹-93 Cr | Mar 2026 ₹-60 Cr
- RBLX: Jun 2021 ₹-143 Cr | Sep 2021 ₹-77 Cr | Dec 2021 ₹-147 Cr | Mar 2022 ₹-162 Cr | Jun 2022 ₹-179 Cr | Sep 2022 ₹-302 Cr | Dec 2022 ₹-291 Cr | Mar 2023 ₹-270 Cr | Jun 2023 ₹-285 Cr | Sep 2023 ₹-279 Cr | Dec 2023 ₹-325 Cr | Mar 2024 ₹-272 Cr | Jun 2024 ₹-207 Cr | Sep 2024 ₹-240 Cr | Dec 2024 ₹-221 Cr | Mar 2025 ₹-216 Cr | Jun 2025 ₹-280 Cr | Sep 2025 ₹-257 Cr | Dec 2025 ₹-318 Cr | Mar 2026 ₹-248 Cr
- PLTK: Jun 2021 ₹90 Cr | Sep 2021 ₹81 Cr | Dec 2021 ₹102 Cr | Mar 2022 ₹83 Cr | Jun 2022 ₹36 Cr | Sep 2022 ₹68 Cr | Dec 2022 ₹88 Cr | Mar 2023 ₹84 Cr | Jun 2023 ₹76 Cr | Sep 2023 ₹38 Cr | Dec 2023 ₹37 Cr | Mar 2024 ₹53 Cr | Jun 2024 ₹87 Cr | Sep 2024 ₹39 Cr | Dec 2024 ₹-17 Cr | Mar 2025 ₹31 Cr | Jun 2025 ₹33 Cr | Sep 2025 ₹39 Cr | Dec 2025 ₹-309 Cr | Mar 2026 ₹-58 Cr
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 ₹18 Cr | Jun 2022 ₹-34 Cr | Sep 2022 ₹-24 Cr | Dec 2022 ₹-194 Cr | Mar 2023 ₹24 Cr | Jun 2023 ₹24 Cr | Sep 2023 ₹27 Cr | Dec 2023 ₹26 Cr | Mar 2024 ₹30 Cr | Jun 2024 ₹33 Cr | Sep 2024 ₹25 Cr | Dec 2024 ₹36 Cr | Mar 2025 ₹24 Cr | Jun 2025 ₹22 Cr | Sep 2025 ₹33 Cr | Dec 2025 ₹24 Cr | Mar 2026 ₹35 Cr
- SOHU: Jun 2021 ₹22 Cr | Sep 2021 ₹12 Cr | Dec 2021 ₹4 Cr | Mar 2022 ₹3 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹-22 Cr | Dec 2022 ₹-7 Cr | Mar 2023 ₹-18 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹-14 Cr | Dec 2023 ₹-13 Cr | Mar 2024 ₹-25 Cr | Jun 2024 ₹-38 Cr | Sep 2024 ₹-4 Cr | Dec 2024 ₹-21 Cr | Mar 2025 ₹182 Cr | Jun 2025 ₹-20 Cr | Sep 2025 ₹9 Cr | Dec 2025 ₹-17 Cr | Mar 2026 ₹-4 Cr
- GDEV: Jun 2021 ₹-15 Cr | Sep 2021 ₹-99 Cr | Dec 2021 ₹6 Cr | Mar 2022 ₹32 Cr | Jun 2022 ₹41 Cr | Sep 2022 ₹32 Cr | Dec 2022 ₹-77 Cr | Mar 2023 ₹-8 Cr | Jun 2023 ₹20 Cr | Sep 2023 ₹24 Cr | Dec 2023 ₹11 Cr | Mar 2024 ₹-5 Cr | Jun 2024 ₹15 Cr | Sep 2024 ₹8 Cr | Dec 2024 ₹8 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹17 Cr | Sep 2025 ₹19 Cr | Dec 2025 ₹19 Cr | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹4 Cr | Jun 2024 — | Sep 2024 ₹2 Cr | Dec 2024 — | Mar 2025 ₹1 Cr | Jun 2025 — | Sep 2025 ₹3 Cr | Dec 2025 — | Mar 2026 ₹-1 Cr
- FIRY: Jun 2021 ₹-80 Cr | Sep 2021 ₹51 Cr | Dec 2021 ₹-99 Cr | Mar 2022 ₹-150 Cr | Jun 2022 ₹-63 Cr | Sep 2022 ₹-83 Cr | Dec 2022 ₹-143 Cr | Mar 2023 ₹-36 Cr | Jun 2023 ₹-17 Cr | Sep 2023 ₹-34 Cr | Dec 2023 ₹-16 Cr | Mar 2024 ₹-27 Cr | Jun 2024 ₹26 Cr | Sep 2024 ₹-21 Cr | Dec 2024 ₹-25 Cr | Mar 2025 ₹-17 Cr | Jun 2025 ₹-18 Cr | Sep 2025 ₹-17 Cr | Dec 2025 ₹-18 Cr | Mar 2026 ₹-11 Cr

### 20-quarter Profit growth history
- EA: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 52% | Sep 2022 1.7% | Dec 2022 209% | Mar 2023 -105% | Jun 2023 29% | Sep 2023 33% | Dec 2023 42% | Mar 2024 — | Jun 2024 -30% | Sep 2024 -26% | Dec 2024 1.0% | Mar 2025 40% | Jun 2025 -28% | Sep 2025 -53% | Dec 2025 -70% | Mar 2026 82%
- TTWO: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -168% | Sep 2022 -2,670% | Dec 2022 -206% | Mar 2023 -650% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- PLTK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -60% | Sep 2022 -16% | Dec 2022 -14% | Mar 2023 1.2% | Jun 2023 111% | Sep 2023 -44% | Dec 2023 -58% | Mar 2024 -37% | Jun 2024 14% | Sep 2024 2.6% | Dec 2024 -146% | Mar 2025 -42% | Jun 2025 -62% | Sep 2025 0.0% | Dec 2025 — | Mar 2026 -287%
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 -5.3% | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 33% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 25% | Jun 2024 38% | Sep 2024 -7.4% | Dec 2024 38% | Mar 2025 -20% | Jun 2025 -33% | Sep 2025 32% | Dec 2025 -33% | Mar 2026 46%
- SOHU: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -100% | Sep 2022 -283% | Dec 2022 -275% | Mar 2023 -700% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -102%
- GDEV: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -1,383% | Mar 2023 -125% | Jun 2023 -51% | Sep 2023 -25% | Dec 2023 — | Mar 2024 — | Jun 2024 -25% | Sep 2024 -67% | Dec 2024 -27% | Mar 2025 — | Jun 2025 13% | Sep 2025 138% | Dec 2025 138% | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -75% | Jun 2025 — | Sep 2025 50% | Dec 2025 — | Mar 2026 -200%
- FIRY: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -263% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -169% | Sep 2025 — | Dec 2025 — | Mar 2026 —

## Capacity Spending & Returns On It

What the numbers say: Electronic Arts Inc. reports $61 million of CAPEX; Electronic Arts Inc. has the highest covered intensity at 2.9%. Coverage is only 9 of 9 companies and 142 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: Electronic Arts Inc. · $61 million | 64.9% versus #2 · Take-Two Interactive Software, Inc. | 8/8 recent comparable periods | 9/9 companies · 142 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders
1. Electronic Arts Inc. (EA): ₹61 Cr
2. Take-Two Interactive Software, Inc. (TTWO): ₹37 Cr
3. Roblox Corporation (RBLX): ₹33 Cr
4. Playtika Holding Corp. (PLTK): ₹6 Cr
5. CTW (CTW): ₹1 Cr

### CAPEX intensity — highest reinvestment intensity
1. Electronic Arts Inc. (EA): 2.9%
2. CTW (CTW): 2.4%
3. Roblox Corporation (RBLX): 2.3%
4. Take-Two Interactive Software, Inc. (TTWO): 2.2%
5. Playtika Holding Corp. (PLTK): 0.8%

### 20-quarter CAPEX history
- EA: Jun 2021 ₹44 Cr | Sep 2021 ₹43 Cr | Dec 2021 ₹48 Cr | Mar 2022 ₹53 Cr | Jun 2022 ₹59 Cr | Sep 2022 ₹53 Cr | Dec 2022 ₹48 Cr | Mar 2023 ₹47 Cr | Jun 2023 ₹45 Cr | Sep 2023 ₹51 Cr | Dec 2023 ₹52 Cr | Mar 2024 ₹51 Cr | Jun 2024 ₹67 Cr | Sep 2024 ₹50 Cr | Dec 2024 ₹50 Cr | Mar 2025 ₹54 Cr | Jun 2025 ₹72 Cr | Sep 2025 ₹43 Cr | Dec 2025 ₹54 Cr | Mar 2026 ₹61 Cr
- TTWO: Jun 2021 ₹86 Cr | Sep 2021 ₹25 Cr | Dec 2021 — | Mar 2022 ₹25 Cr | Jun 2022 ₹43 Cr | Sep 2022 ₹57 Cr | Dec 2022 ₹38 Cr | Mar 2023 ₹67 Cr | Jun 2023 ₹32 Cr | Sep 2023 ₹28 Cr | Dec 2023 ₹36 Cr | Mar 2024 ₹46 Cr | Jun 2024 ₹35 Cr | Sep 2024 ₹37 Cr | Dec 2024 ₹43 Cr | Mar 2025 ₹54 Cr | Jun 2025 ₹25 Cr | Sep 2025 ₹32 Cr | Dec 2025 ₹69 Cr | Mar 2026 ₹37 Cr
- RBLX: Jun 2021 ₹23 Cr | Sep 2021 ₹3 Cr | Dec 2021 ₹45 Cr | Mar 2022 ₹52 Cr | Jun 2022 ₹84 Cr | Sep 2022 ₹133 Cr | Dec 2022 ₹157 Cr | Mar 2023 ₹91 Cr | Jun 2023 ₹111 Cr | Sep 2023 ₹53 Cr | Dec 2023 ₹65 Cr | Mar 2024 ₹47 Cr | Jun 2024 ₹40 Cr | Sep 2024 ₹29 Cr | Dec 2024 ₹64 Cr | Mar 2025 ₹17 Cr | Jun 2025 ₹23 Cr | Sep 2025 ₹103 Cr | Dec 2025 ₹298 Cr | Mar 2026 ₹33 Cr
- PLTK: Jun 2021 ₹13 Cr | Sep 2021 ₹11 Cr | Dec 2021 ₹16 Cr | Mar 2022 ₹13 Cr | Jun 2022 ₹17 Cr | Sep 2022 ₹9 Cr | Dec 2022 ₹30 Cr | Mar 2023 ₹5 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹16 Cr | Mar 2024 ₹14 Cr | Jun 2024 ₹9 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹13 Cr | Mar 2025 ₹10 Cr | Jun 2025 ₹5 Cr | Sep 2025 ₹10 Cr | Dec 2025 ₹11 Cr | Mar 2026 ₹6 Cr
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹0 Cr
- SOHU: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 — | Dec 2022 — | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- GDEV: Jun 2021 ₹0 Cr | Sep 2021 ₹0 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹1 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹0 Cr | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 ₹1 Cr
- FIRY: Jun 2021 ₹1 Cr | Sep 2021 ₹1 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹12 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹1 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹0 Cr

### 20-quarter CAPEX intensity history
- EA: Jun 2021 2.8% | Sep 2021 2.4% | Dec 2021 2.7% | Mar 2022 2.9% | Jun 2022 3.3% | Sep 2022 2.8% | Dec 2022 2.6% | Mar 2023 2.5% | Jun 2023 2.3% | Sep 2023 2.7% | Dec 2023 2.7% | Mar 2024 2.9% | Jun 2024 4.0% | Sep 2024 2.5% | Dec 2024 2.7% | Mar 2025 2.8% | Jun 2025 4.3% | Sep 2025 2.3% | Dec 2025 2.8% | Mar 2026 2.9%
- TTWO: Jun 2021 11% | Sep 2021 2.9% | Dec 2021 — | Mar 2022 2.7% | Jun 2022 3.9% | Sep 2022 4.1% | Dec 2022 2.7% | Mar 2023 4.6% | Jun 2023 2.5% | Sep 2023 2.2% | Dec 2023 2.6% | Mar 2024 3.3% | Jun 2024 2.6% | Sep 2024 2.7% | Dec 2024 3.2% | Mar 2025 3.4% | Jun 2025 1.7% | Sep 2025 1.8% | Dec 2025 4.1% | Mar 2026 2.2%
- RBLX: Jun 2021 5.1% | Sep 2021 0.6% | Dec 2021 7.9% | Mar 2022 9.7% | Jun 2022 14% | Sep 2022 26% | Dec 2022 27% | Mar 2023 14% | Jun 2023 16% | Sep 2023 7.4% | Dec 2023 8.7% | Mar 2024 5.9% | Jun 2024 4.5% | Sep 2024 3.2% | Dec 2024 6.5% | Mar 2025 1.6% | Jun 2025 2.1% | Sep 2025 7.6% | Dec 2025 21% | Mar 2026 2.3%
- PLTK: Jun 2021 2.0% | Sep 2021 1.7% | Dec 2021 2.5% | Mar 2022 1.9% | Jun 2022 2.6% | Sep 2022 1.4% | Dec 2022 4.8% | Mar 2023 0.8% | Jun 2023 0.6% | Sep 2023 1.3% | Dec 2023 2.5% | Mar 2024 2.2% | Jun 2024 1.4% | Sep 2024 0.8% | Dec 2024 2.0% | Mar 2025 1.4% | Jun 2025 0.7% | Sep 2025 1.5% | Dec 2025 1.6% | Mar 2026 0.8%
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 0.0% | Jun 2022 0.0% | Sep 2022 0.0% | Dec 2022 0.0% | Mar 2023 0.0% | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 0.0% | Mar 2024 0.0% | Jun 2024 0.0% | Sep 2024 0.0% | Dec 2024 1.2% | Mar 2025 0.0% | Jun 2025 0.0% | Sep 2025 0.0% | Dec 2025 0.0% | Mar 2026 0.0%
- SOHU: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 0.0% | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.0% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- GDEV: Jun 2021 0.0% | Sep 2021 0.0% | Dec 2021 0.0% | Mar 2022 0.8% | Jun 2022 0.0% | Sep 2022 0.0% | Dec 2022 0.0% | Mar 2023 0.0% | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 0.0% | Mar 2024 0.0% | Jun 2024 0.0% | Sep 2024 0.0% | Dec 2024 0.0% | Mar 2025 0.0% | Jun 2025 0.0% | Sep 2025 0.0% | Dec 2025 0.0% | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 3.0% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 0.0% | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 2.4%
- FIRY: Jun 2021 1.1% | Sep 2021 1.0% | Dec 2021 1.0% | Mar 2022 0.0% | Jun 2022 0.0% | Sep 2022 3.4% | Dec 2022 0.0% | Mar 2023 27% | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 3.2% | Mar 2024 4.0% | Jun 2024 0.0% | Sep 2024 0.0% | Dec 2024 5.6% | Mar 2025 4.5% | Jun 2025 4.0% | Sep 2025 0.0% | Dec 2025 3.3% | Mar 2026 0.0%

## Debt Load & Balance-Sheet Headroom

What the numbers say: Roblox Corporation has the clearest covered balance-sheet capacity with $1,566 million net cash and gross debt of $1,633 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Sohu.com Limited · $0 million | 100% versus #2 · GDEV Inc. | 8/8 recent comparable periods | 8/9 companies · 154 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Sohu.com Limited (SOHU): ₹0 Cr
2. GDEV Inc. (GDEV): ₹1 Cr
3. DoubleDown Interactive Co., Ltd. (DDI): ₹39 Cr
4. Firy Inc. (FIRY): ₹129 Cr
5. Electronic Arts Inc. (EA): ₹1.5K Cr

### Net debt — lowest net debt
1. Roblox Corporation (RBLX): ₹-1.6K Cr
2. Electronic Arts Inc. (EA): ₹-1.5K Cr
3. Sohu.com Limited (SOHU): ₹-808 Cr
4. DoubleDown Interactive Co., Ltd. (DDI): ₹-494 Cr
5. GDEV Inc. (GDEV): ₹-107 Cr

### 20-quarter Gross debt history
- EA: Jun 2021 ₹1.9K Cr | Sep 2021 ₹1.9K Cr | Dec 2021 ₹1.9K Cr | Mar 2022 ₹1.9K Cr | Jun 2022 ₹1.9K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹1.9K Cr | Mar 2023 ₹1.9K Cr | Jun 2023 ₹1.9K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹1.9K Cr | Mar 2024 ₹1.9K Cr | Jun 2024 ₹1.9K Cr | Sep 2024 ₹1.9K Cr | Dec 2024 ₹1.9K Cr | Mar 2025 ₹1.9K Cr | Jun 2025 ₹1.9K Cr | Sep 2025 ₹1.9K Cr | Dec 2025 ₹400 Cr | Mar 2026 ₹1.5K Cr
- TTWO: Jun 2021 ₹188 Cr | Sep 2021 ₹239 Cr | Dec 2021 ₹244 Cr | Mar 2022 ₹250 Cr | Jun 2022 ₹3.7K Cr | Sep 2022 ₹3.7K Cr | Dec 2022 ₹3.5K Cr | Mar 2023 ₹3.5K Cr | Jun 2023 ₹3.5K Cr | Sep 2023 ₹3.5K Cr | Dec 2023 ₹3.5K Cr | Mar 2024 ₹3.5K Cr | Jun 2024 ₹4.1K Cr | Sep 2024 ₹4.1K Cr | Dec 2024 ₹4.1K Cr | Mar 2025 ₹4.1K Cr | Jun 2025 ₹3.5K Cr | Sep 2025 ₹3.5K Cr | Dec 2025 ₹3.5K Cr | Mar 2026 ₹3.0K Cr
- RBLX: Jun 2021 ₹206 Cr | Sep 2021 ₹196 Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 ₹1.5K Cr | Jun 2023 ₹1.6K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹1.7K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.7K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹1.7K Cr | Mar 2025 ₹1.7K Cr | Jun 2025 ₹1.6K Cr | Sep 2025 ₹1.6K Cr | Dec 2025 ₹1.6K Cr | Mar 2026 ₹1.6K Cr
- PLTK: Jun 2021 ₹2.5K Cr | Sep 2021 ₹2.5K Cr | Dec 2021 ₹2.5K Cr | Mar 2022 ₹2.5K Cr | Jun 2022 ₹2.5K Cr | Sep 2022 ₹2.5K Cr | Dec 2022 ₹2.5K Cr | Mar 2023 ₹2.5K Cr | Jun 2023 ₹2.5K Cr | Sep 2023 ₹2.5K Cr | Dec 2023 ₹2.5K Cr | Mar 2024 ₹2.5K Cr | Jun 2024 ₹2.5K Cr | Sep 2024 ₹2.5K Cr | Dec 2024 ₹2.5K Cr | Mar 2025 ₹2.5K Cr | Jun 2025 ₹2.5K Cr | Sep 2025 ₹2.5K Cr | Dec 2025 ₹2.5K Cr | Mar 2026 ₹2.5K Cr
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹3 Cr | Dec 2022 ₹3 Cr | Mar 2023 ₹40 Cr | Jun 2023 ₹40 Cr | Sep 2023 ₹39 Cr | Dec 2023 ₹42 Cr | Mar 2024 ₹40 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹1 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹38 Cr | Sep 2025 ₹37 Cr | Dec 2025 ₹36 Cr | Mar 2026 ₹39 Cr
- SOHU: Jun 2021 ₹561 Cr | Sep 2021 ₹0 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹0 Cr
- GDEV: Jun 2021 ₹2 Cr | Sep 2021 ₹1 Cr | Dec 2021 ₹2 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹1 Cr | Dec 2022 ₹1 Cr | Mar 2023 ₹1 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹2 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹1 Cr | Dec 2024 ₹1 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹1 Cr | Mar 2026 —
- FIRY: Jun 2021 ₹0 Cr | Sep 2021 ₹0 Cr | Dec 2021 ₹295 Cr | Mar 2022 ₹295 Cr | Jun 2022 ₹295 Cr | Sep 2022 ₹287 Cr | Dec 2022 ₹287 Cr | Mar 2023 ₹287 Cr | Jun 2023 ₹136 Cr | Sep 2023 ₹136 Cr | Dec 2023 ₹136 Cr | Mar 2024 ₹136 Cr | Jun 2024 ₹136 Cr | Sep 2024 ₹136 Cr | Dec 2024 ₹137 Cr | Mar 2025 ₹137 Cr | Jun 2025 ₹127 Cr | Sep 2025 ₹128 Cr | Dec 2025 ₹129 Cr | Mar 2026 ₹129 Cr

### 20-quarter Net debt history
- EA: Jun 2021 ₹-1.8K Cr | Sep 2021 ₹-95 Cr | Dec 2021 ₹-1.1K Cr | Mar 2022 ₹-1.2K Cr | Jun 2022 ₹-538 Cr | Sep 2022 ₹5 Cr | Dec 2022 ₹-674 Cr | Mar 2023 ₹-887 Cr | Jun 2023 ₹-722 Cr | Sep 2023 ₹-424 Cr | Dec 2023 ₹-1.2K Cr | Mar 2024 ₹-1.4K Cr | Jun 2024 ₹-884 Cr | Sep 2024 ₹-680 Cr | Dec 2024 ₹-1.3K Cr | Mar 2025 ₹-364 Cr | Jun 2025 ₹254 Cr | Sep 2025 ₹625 Cr | Dec 2025 ₹-2.5K Cr | Mar 2026 ₹-1.5K Cr
- TTWO: Jun 2021 ₹-2.3K Cr | Sep 2021 ₹-2.1K Cr | Dec 2021 ₹-2.2K Cr | Mar 2022 ₹-2.3K Cr | Jun 2022 ₹2.4K Cr | Sep 2022 ₹2.4K Cr | Dec 2022 ₹2.4K Cr | Mar 2023 ₹2.5K Cr | Jun 2023 ₹2.6K Cr | Sep 2023 ₹2.7K Cr | Dec 2023 ₹2.6K Cr | Mar 2024 ₹2.8K Cr | Jun 2024 ₹3.0K Cr | Sep 2024 ₹3.2K Cr | Dec 2024 ₹2.9K Cr | Mar 2025 ₹2.6K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹969 Cr
- RBLX: Jun 2021 ₹-1.6K Cr | Sep 2021 ₹-1.7K Cr | Dec 2021 ₹-1.8K Cr | Mar 2022 ₹-1.9K Cr | Jun 2022 ₹-1.7K Cr | Sep 2022 ₹-1.6K Cr | Dec 2022 ₹-1.5K Cr | Mar 2023 ₹-785 Cr | Jun 2023 ₹-474 Cr | Sep 2023 ₹-522 Cr | Dec 2023 ₹-541 Cr | Mar 2024 ₹-711 Cr | Jun 2024 ₹-700 Cr | Sep 2024 ₹-697 Cr | Dec 2024 ₹-734 Cr | Mar 2025 ₹-1.1K Cr | Jun 2025 ₹-993 Cr | Sep 2025 ₹-1.3K Cr | Dec 2025 ₹-1.4K Cr | Mar 2026 ₹-1.6K Cr
- PLTK: Jun 2021 ₹1.3K Cr | Sep 2021 ₹1.5K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 ₹1.4K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.8K Cr | Mar 2023 ₹1.8K Cr | Jun 2023 ₹1.6K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.9K Cr | Mar 2025 ₹2.0K Cr | Jun 2025 ₹1.9K Cr | Sep 2025 ₹1.9K Cr | Dec 2025 ₹1.7K Cr | Mar 2026 ₹1.7K Cr
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹-282 Cr | Dec 2022 ₹-282 Cr | Mar 2023 ₹-205 Cr | Jun 2023 ₹-205 Cr | Sep 2023 ₹-232 Cr | Dec 2023 ₹-233 Cr | Mar 2024 ₹-270 Cr | Jun 2024 ₹-338 Cr | Sep 2024 ₹-372 Cr | Dec 2024 ₹-414 Cr | Mar 2025 ₹-455 Cr | Jun 2025 ₹-443 Cr | Sep 2025 ₹-402 Cr | Dec 2025 ₹-454 Cr | Mar 2026 ₹-494 Cr
- SOHU: Jun 2021 ₹212 Cr | Sep 2021 ₹-1.6K Cr | Dec 2021 ₹-1.4K Cr | Mar 2022 ₹-1.4K Cr | Jun 2022 ₹-1.2K Cr | Sep 2022 ₹-1.1K Cr | Dec 2022 ₹-1.2K Cr | Mar 2023 ₹-1.2K Cr | Jun 2023 ₹-1.0K Cr | Sep 2023 ₹-930 Cr | Dec 2023 ₹-960 Cr | Mar 2024 ₹-943 Cr | Jun 2024 ₹-967 Cr | Sep 2024 ₹-934 Cr | Dec 2024 ₹-904 Cr | Mar 2025 ₹-876 Cr | Jun 2025 ₹-826 Cr | Sep 2025 ₹-875 Cr | Dec 2025 ₹-831 Cr | Mar 2026 ₹-808 Cr
- GDEV: Jun 2021 ₹-39 Cr | Sep 2021 ₹-104 Cr | Dec 2021 ₹-141 Cr | Mar 2022 ₹-82 Cr | Jun 2022 ₹-90 Cr | Sep 2022 ₹-131 Cr | Dec 2022 ₹-136 Cr | Mar 2023 ₹-137 Cr | Jun 2023 ₹-137 Cr | Sep 2023 ₹-143 Cr | Dec 2023 ₹-154 Cr | Mar 2024 ₹-103 Cr | Jun 2024 ₹-103 Cr | Sep 2024 ₹-134 Cr | Dec 2024 ₹-134 Cr | Mar 2025 ₹-74 Cr | Jun 2025 ₹-74 Cr | Sep 2025 ₹-107 Cr | Dec 2025 ₹-107 Cr | Mar 2026 —
- FIRY: Jun 2021 ₹-693 Cr | Sep 2021 ₹-540 Cr | Dec 2021 ₹-265 Cr | Mar 2022 ₹-189 Cr | Jun 2022 ₹-175 Cr | Sep 2022 ₹-178 Cr | Dec 2022 ₹-203 Cr | Mar 2023 ₹-217 Cr | Jun 2023 ₹-216 Cr | Sep 2023 ₹-199 Cr | Dec 2023 ₹-166 Cr | Mar 2024 ₹-165 Cr | Jun 2024 ₹-190 Cr | Sep 2024 ₹-175 Cr | Dec 2024 ₹-144 Cr | Mar 2025 ₹-126 Cr | Jun 2025 ₹-111 Cr | Sep 2025 ₹-84 Cr | Dec 2025 ₹-66 Cr | Mar 2026 ₹-56 Cr

## Return On Capital Employed

What the numbers say: GDEV Inc. leads ROCE at 387.1%, 380.9 percentage points above Electronic Arts Inc.. GDEV Inc. has the strongest latest improvement at +291.7 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: GDEV Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: GDEV Inc. · 387.1% | 62.4× versus #2 · Electronic Arts Inc. | 5/8 recent comparable periods | 9/9 companies · 162 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. GDEV Inc. (GDEV): 387%
2. Electronic Arts Inc. (EA): 6.2%
3. DoubleDown Interactive Co., Ltd. (DDI): 3.7%
4. Take-Two Interactive Software, Inc. (TTWO): 0.2%
5. Sohu.com Limited (SOHU): -0.5%

### ROCE change — fastest improvers
1. GDEV Inc. (GDEV): +291.7 pp
2. Take-Two Interactive Software, Inc. (TTWO): +49.3 pp
3. Electronic Arts Inc. (EA): +2.1 pp
4. Sohu.com Limited (SOHU): +0.8 pp
5. Firy Inc. (FIRY): +0.6 pp

### 20-quarter ROCE history
- EA: Jun 2021 — | Sep 2021 3.5% | Dec 2021 1.1% | Mar 2022 3.5% | Jun 2022 4.3% | Sep 2022 4.1% | Dec 2022 2.8% | Mar 2023 1.7% | Jun 2023 5.3% | Sep 2023 3.6% | Dec 2023 3.5% | Mar 2024 2.3% | Jun 2024 3.5% | Sep 2024 3.7% | Dec 2024 3.6% | Mar 2025 4.1% | Jun 2025 2.9% | Sep 2025 2.1% | Dec 2025 1.3% | Mar 2026 6.2%
- TTWO: Jun 2021 — | Sep 2021 0.5% | Dec 2021 3.9% | Mar 2022 3.1% | Jun 2022 -0.4% | Sep 2022 -2.8% | Dec 2022 -1.9% | Mar 2023 -8.5% | Jun 2023 -1.5% | Sep 2023 -4.1% | Dec 2023 -1.0% | Mar 2024 -25% | Jun 2024 -1.6% | Sep 2024 -2.7% | Dec 2024 -1.2% | Mar 2025 -49% | Jun 2025 0.3% | Sep 2025 -1.2% | Dec 2025 -0.5% | Mar 2026 0.2%
- RBLX: Jun 2021 — | Sep 2021 -8.3% | Dec 2021 -9.3% | Mar 2022 -7.9% | Jun 2022 -8.6% | Sep 2022 -14% | Dec 2022 -11% | Mar 2023 -11% | Jun 2023 -11% | Sep 2023 -10% | Dec 2023 -12% | Mar 2024 -10% | Jun 2024 -7.7% | Sep 2024 -9.0% | Dec 2024 -7.4% | Mar 2025 -7.5% | Jun 2025 -9.3% | Sep 2025 -8.1% | Dec 2025 -9.0% | Mar 2026 -7.2%
- PLTK: Jun 2021 — | Sep 2021 9.6% | Dec 2021 6.6% | Mar 2022 5.7% | Jun 2022 4.2% | Sep 2022 5.7% | Dec 2022 5.7% | Mar 2023 6.5% | Jun 2023 5.8% | Sep 2023 3.6% | Dec 2023 4.9% | Mar 2024 3.9% | Jun 2024 5.5% | Sep 2024 3.7% | Dec 2024 1.9% | Mar 2025 2.3% | Jun 2025 3.9% | Sep 2025 3.4% | Dec 2025 -9.6% | Mar 2026 -1.7%
- DDI: Jun 2021 — | Sep 2021 0.0% | Dec 2021 0.0% | Mar 2022 — | Jun 2022 — | Sep 2022 -13% | Dec 2022 -73% | Mar 2023 7.4% | Jun 2023 8.1% | Sep 2023 4.3% | Dec 2023 5.1% | Mar 2024 4.3% | Jun 2024 4.8% | Sep 2024 4.5% | Dec 2024 4.2% | Mar 2025 3.5% | Jun 2025 3.7% | Sep 2025 3.9% | Dec 2025 3.2% | Mar 2026 3.7%
- SOHU: Jun 2021 — | Sep 2021 1.6% | Dec 2021 -0.2% | Mar 2022 0.8% | Jun 2022 0.0% | Sep 2022 -1.1% | Dec 2022 -0.3% | Mar 2023 -1.1% | Jun 2023 0.0% | Sep 2023 -1.3% | Dec 2023 -1.6% | Mar 2024 -1.7% | Jun 2024 -3.0% | Sep 2024 -0.3% | Dec 2024 -1.7% | Mar 2025 -1.3% | Jun 2025 -1.6% | Sep 2025 1.0% | Dec 2025 -3.3% | Mar 2026 -0.5%
- GDEV: Jun 2021 39% | Sep 2021 359% | Dec 2021 -68% | Mar 2022 1,002% | Jun 2022 -264% | Sep 2022 285% | Dec 2022 747% | Mar 2023 -927% | Jun 2023 144% | Sep 2023 75% | Dec 2023 217% | Mar 2024 0.2% | Jun 2024 -126% | Sep 2024 170% | Dec 2024 95% | Mar 2025 -73% | Jun 2025 -98% | Sep 2025 387% | Dec 2025 387% | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 9.0% | Mar 2024 9.0% | Jun 2024 2.0% | Sep 2024 2.0% | Dec 2024 -0.9% | Mar 2025 -0.9% | Jun 2025 -0.7% | Sep 2025 -0.7% | Dec 2025 -2.2% | Mar 2026 -2.2%
- FIRY: Jun 2021 — | Sep 2021 -12% | Dec 2021 -19% | Mar 2022 -19% | Jun 2022 -8.0% | Sep 2022 -11% | Dec 2022 -19% | Mar 2023 -4.6% | Jun 2023 -5.1% | Sep 2023 -5.8% | Dec 2023 -4.5% | Mar 2024 -6.2% | Jun 2024 7.0% | Sep 2024 -6.0% | Dec 2024 -7.4% | Mar 2025 -5.0% | Jun 2025 -5.2% | Sep 2025 -5.5% | Dec 2025 -7.7% | Mar 2026 -4.4%

### 20-quarter ROCE change history
- EA: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.6 pp | Dec 2022 +1.7 pp | Mar 2023 −1.8 pp | Jun 2023 +1.0 pp | Sep 2023 −0.5 pp | Dec 2023 +0.7 pp | Mar 2024 +0.6 pp | Jun 2024 −1.8 pp | Sep 2024 +0.1 pp | Dec 2024 +0.1 pp | Mar 2025 +1.8 pp | Jun 2025 −0.6 pp | Sep 2025 −1.6 pp | Dec 2025 −2.3 pp | Mar 2026 +2.1 pp
- TTWO: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.3 pp | Dec 2022 −5.8 pp | Mar 2023 −11.6 pp | Jun 2023 −1.1 pp | Sep 2023 −1.3 pp | Dec 2023 +0.9 pp | Mar 2024 −16.4 pp | Jun 2024 −0.1 pp | Sep 2024 +1.4 pp | Dec 2024 −0.2 pp | Mar 2025 −24.2 pp | Jun 2025 +1.9 pp | Sep 2025 +1.5 pp | Dec 2025 +0.7 pp | Mar 2026 +49.3 pp
- RBLX: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −6.1 pp | Dec 2022 −2.1 pp | Mar 2023 −2.9 pp | Jun 2023 −2.6 pp | Sep 2023 +4.0 pp | Dec 2023 −0.4 pp | Mar 2024 +0.8 pp | Jun 2024 +3.5 pp | Sep 2024 +1.4 pp | Dec 2024 +4.4 pp | Mar 2025 +2.5 pp | Jun 2025 −1.6 pp | Sep 2025 +0.9 pp | Dec 2025 −1.6 pp | Mar 2026 +0.3 pp
- PLTK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.9 pp | Dec 2022 −0.9 pp | Mar 2023 +0.8 pp | Jun 2023 +1.6 pp | Sep 2023 −2.1 pp | Dec 2023 −0.8 pp | Mar 2024 −2.6 pp | Jun 2024 −0.3 pp | Sep 2024 +0.1 pp | Dec 2024 −3.0 pp | Mar 2025 −1.6 pp | Jun 2025 −1.6 pp | Sep 2025 −0.3 pp | Dec 2025 −11.5 pp | Mar 2026 −4.0 pp
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −13.4 pp | Dec 2022 −72.6 pp | Mar 2023 — | Jun 2023 — | Sep 2023 +17.7 pp | Dec 2023 +77.7 pp | Mar 2024 −3.1 pp | Jun 2024 −3.3 pp | Sep 2024 +0.2 pp | Dec 2024 −0.9 pp | Mar 2025 −0.8 pp | Jun 2025 −1.1 pp | Sep 2025 −0.6 pp | Dec 2025 −1.0 pp | Mar 2026 +0.2 pp
- SOHU: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.7 pp | Dec 2022 −0.1 pp | Mar 2023 −1.9 pp | Jun 2023 0.0 pp | Sep 2023 −0.2 pp | Dec 2023 −1.3 pp | Mar 2024 −0.6 pp | Jun 2024 −3.0 pp | Sep 2024 +1.0 pp | Dec 2024 −0.1 pp | Mar 2025 +0.4 pp | Jun 2025 +1.4 pp | Sep 2025 +1.3 pp | Dec 2025 −1.6 pp | Mar 2026 +0.8 pp
- GDEV: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −303.0 pp | Sep 2022 −73.6 pp | Dec 2022 +814.8 pp | Mar 2023 −1,928.9 pp | Jun 2023 +408.1 pp | Sep 2023 −210.4 pp | Dec 2023 −529.7 pp | Mar 2024 +927.1 pp | Jun 2024 −270.3 pp | Sep 2024 +94.6 pp | Dec 2024 −121.7 pp | Mar 2025 −73.3 pp | Jun 2025 +28.0 pp | Sep 2025 +217.6 pp | Dec 2025 +291.7 pp | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 +2.0 pp | Sep 2024 +2.0 pp | Dec 2024 −9.9 pp | Mar 2025 −9.9 pp | Jun 2025 −2.7 pp | Sep 2025 −2.7 pp | Dec 2025 −1.3 pp | Mar 2026 −1.3 pp
- FIRY: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.5 pp | Dec 2022 +0.5 pp | Mar 2023 +14.1 pp | Jun 2023 +2.9 pp | Sep 2023 +5.2 pp | Dec 2023 +14.1 pp | Mar 2024 −1.6 pp | Jun 2024 +12.1 pp | Sep 2024 −0.2 pp | Dec 2024 −2.9 pp | Mar 2025 +1.2 pp | Jun 2025 −12.2 pp | Sep 2025 +0.5 pp | Dec 2025 −0.3 pp | Mar 2026 +0.6 pp

## Valuation Against Growth & Quality

What the numbers say: Electronic Arts Inc. has the lowest comparable Guarded PEG at 5.15×. Only 1 of 9 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Electronic Arts Inc. · 5.15× | Not enough peers | 0/8 recent comparable periods | 1/9 companies · 8 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. Electronic Arts Inc. (EA): 5.2

### P/E — lowest P/E
1. DoubleDown Interactive Co., Ltd. (DDI): 0.0
2. Sohu.com Limited (SOHU): 2.3
3. GDEV Inc. (GDEV): 4.0
4. Playtika Holding Corp. (PLTK): 16.2
5. CTW (CTW): 53.2

### 20-quarter Guarded PEG history
- EA: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 2.5 | Dec 2023 4.9 | Mar 2024 — | Jun 2024 1.0 | Sep 2024 5.2 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- PLTK: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.9 | Sep 2023 1.3 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 0.0 | Mar 2025 0.0 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —

### 20-quarter P/E history
- EA: Jun 2021 — | Sep 2021 52.5 | Dec 2021 59.4 | Mar 2022 45.8 | Jun 2022 38.5 | Sep 2022 36.1 | Dec 2022 32.9 | Mar 2023 41.8 | Jun 2023 40.2 | Sep 2023 33.2 | Dec 2023 34.5 | Mar 2024 28.4 | Jun 2024 32.8 | Sep 2024 36.9 | Dec 2024 37.2 | Mar 2025 34.0 | Jun 2025 40.0 | Sep 2025 59.0 | Dec 2025 76.8 | Mar 2026 58.1
- TTWO: Jun 2021 — | Sep 2021 31.8 | Dec 2021 — | Mar 2022 42.9 | Jun 2022 80.6 | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- PLTK: Jun 2021 — | Sep 2021 39.5 | Dec 2021 23.1 | Mar 2022 22.2 | Jun 2022 17.9 | Sep 2022 13.2 | Dec 2022 12.3 | Mar 2023 15.4 | Jun 2023 13.7 | Sep 2023 12.4 | Dec 2023 13.6 | Mar 2024 12.8 | Jun 2024 13.8 | Sep 2024 13.7 | Dec 2024 15.8 | Mar 2025 13.6 | Jun 2025 19.7 | Sep 2025 16.2 | Dec 2025 — | Mar 2026 —
- DDI: Jun 2021 — | Sep 2021 0.0 | Dec 2021 0.0 | Mar 2022 0.0 | Jun 2022 0.1 | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 0.0 | Mar 2024 0.0 | Jun 2024 0.0 | Sep 2024 0.0 | Dec 2024 0.0 | Mar 2025 0.0 | Jun 2025 0.0 | Sep 2025 0.0 | Dec 2025 0.0 | Mar 2026 0.0
- SOHU: Jun 2021 — | Sep 2021 0.9 | Dec 2021 0.7 | Mar 2022 0.8 | Jun 2022 0.8 | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 3.2 | Jun 2025 2.9 | Sep 2025 3.9 | Dec 2025 1.1 | Mar 2026 2.3
- GDEV: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 11.4 | Dec 2022 172.4 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 9.6 | Mar 2024 8.7 | Jun 2024 11.7 | Sep 2024 15.8 | Dec 2024 14.0 | Mar 2025 5.2 | Jun 2025 6.4 | Sep 2025 9.0 | Dec 2025 4.0 | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 43.0 | Mar 2026 53.2

## Enterprise Value & Book Value

What the numbers say: Firy Inc. leads ev/ebitda at 1.1×; DoubleDown Interactive Co., Ltd. leads p/bv at 0×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Firy Inc. · 1.1× | 22.5% versus #2 · DoubleDown Interactive Co., Ltd. | 0/8 recent comparable periods | 8/9 companies · 94 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. Firy Inc. (FIRY): 1.1
2. DoubleDown Interactive Co., Ltd. (DDI): 1.4
3. GDEV Inc. (GDEV): 2.1
4. Sohu.com Limited (SOHU): 6.7
5. Playtika Holding Corp. (PLTK): 28.6

### P/BV — lowest P/BV
1. DoubleDown Interactive Co., Ltd. (DDI): 0.0
2. Sohu.com Limited (SOHU): 0.3
3. Firy Inc. (FIRY): 0.4
4. CTW (CTW): 2.9
5. Electronic Arts Inc. (EA): 7.6

### 20-quarter EV/EBITDA history
- EA: Jun 2021 — | Sep 2021 28.9 | Dec 2021 26.9 | Mar 2022 21.2 | Jun 2022 19.2 | Sep 2022 17.2 | Dec 2022 16.3 | Mar 2023 17.1 | Jun 2023 17.8 | Sep 2023 17.3 | Dec 2023 18.8 | Mar 2024 17.7 | Jun 2024 20.6 | Sep 2024 20.8 | Dec 2024 20.7 | Mar 2025 19.2 | Jun 2025 22.6 | Sep 2025 32.7 | Dec 2025 37.0 | Mar 2026 33.5
- TTWO: Jun 2021 — | Sep 2021 25.2 | Dec 2021 30.4 | Mar 2022 20.5 | Jun 2022 85.6 | Sep 2022 — | Dec 2022 31.9 | Mar 2023 32.3 | Jun 2023 39.4 | Sep 2023 49.6 | Dec 2023 58.5 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 31.3
- PLTK: Jun 2021 — | Sep 2021 17.6 | Dec 2021 12.1 | Mar 2022 13.4 | Jun 2022 10.6 | Sep 2022 8.3 | Dec 2022 7.7 | Mar 2023 8.0 | Jun 2023 8.2 | Sep 2023 7.8 | Dec 2023 7.2 | Mar 2024 6.8 | Jun 2024 7.1 | Sep 2024 6.9 | Dec 2024 8.1 | Mar 2025 7.2 | Jun 2025 6.9 | Sep 2025 6.0 | Dec 2025 13.9 | Mar 2026 28.6
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 0.0 | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 0.9 | Mar 2023 0.7 | Jun 2023 0.9 | Sep 2023 1.4 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- SOHU: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 15.5 | Jun 2023 15.2 | Sep 2023 — | Dec 2023 11.1 | Mar 2024 8.2 | Jun 2024 4.3 | Sep 2024 4.1 | Dec 2024 6.0 | Mar 2025 5.2 | Jun 2025 6.0 | Sep 2025 1.0 | Dec 2025 6.1 | Mar 2026 6.7
- GDEV: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 8.6 | Dec 2022 43.6 | Mar 2023 223.7 | Jun 2023 — | Sep 2023 — | Dec 2023 6.3 | Mar 2024 6.0 | Jun 2024 7.1 | Sep 2024 7.4 | Dec 2024 4.6 | Mar 2025 2.2 | Jun 2025 3.1 | Sep 2025 5.5 | Dec 2025 2.1 | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 31.6 | Mar 2026 30.5
- FIRY: Jun 2021 — | Sep 2021 1.6 | Dec 2021 0.4 | Mar 2022 0.3 | Jun 2022 0.4 | Sep 2022 0.4 | Dec 2022 0.5 | Mar 2023 0.7 | Jun 2023 0.2 | Sep 2023 0.4 | Dec 2023 0.4 | Mar 2024 1.7 | Jun 2024 — | Sep 2024 4.7 | Dec 2024 3.1 | Mar 2025 — | Jun 2025 0.4 | Sep 2025 — | Dec 2025 — | Mar 2026 1.1

### 20-quarter P/BV history
- EA: Jun 2021 — | Sep 2021 5.1 | Dec 2021 4.9 | Mar 2022 4.7 | Jun 2022 4.4 | Sep 2022 4.1 | Dec 2022 4.5 | Mar 2023 4.5 | Jun 2023 4.8 | Sep 2023 4.3 | Dec 2023 4.9 | Mar 2024 4.7 | Jun 2024 5.0 | Sep 2024 5.1 | Dec 2024 5.2 | Mar 2025 5.7 | Jun 2025 6.6 | Sep 2025 8.4 | Dec 2025 8.3 | Mar 2026 7.6
- TTWO: Jun 2021 — | Sep 2021 5.1 | Dec 2021 5.6 | Mar 2022 4.7 | Jun 2022 2.1 | Sep 2022 1.9 | Dec 2022 1.8 | Mar 2023 2.2 | Jun 2023 2.8 | Sep 2023 2.8 | Dec 2023 3.2 | Mar 2024 4.5 | Jun 2024 4.6 | Sep 2024 4.7 | Dec 2024 5.7 | Mar 2025 17.2 | Jun 2025 12.9 | Sep 2025 13.9 | Dec 2025 13.6 | Mar 2026 10.4
- RBLX: Jun 2021 — | Sep 2021 73.6 | Dec 2021 103.4 | Mar 2022 48.8 | Jun 2022 35.8 | Sep 2022 50.8 | Dec 2022 56.2 | Mar 2023 110.8 | Jun 2023 147.4 | Sep 2023 143.6 | Dec 2023 379.5 | Mar 2024 341.1 | Jun 2024 198.0 | Sep 2024 152.9 | Dec 2024 174.7 | Mar 2025 127.2 | Jun 2025 206.4 | Sep 2025 238.5 | Dec 2025 145.5 | Mar 2026 93.7
- PLTK: Jun 2021 — | Sep 2021 -22.3 | Dec 2021 -18.8 | Mar 2022 -33.2 | Jun 2022 -29.7 | Sep 2022 -43.8 | Dec 2022 -5.4 | Mar 2023 -7.7 | Jun 2023 -12.3 | Sep 2023 -12.5 | Dec 2023 -14.6 | Mar 2024 -14.5 | Jun 2024 -25.9 | Sep 2024 -30.1 | Dec 2024 -19.9 | Mar 2025 -16.6 | Jun 2025 -20.3 | Sep 2025 -19.6 | Dec 2025 -3.6 | Mar 2026 -2.3
- DDI: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.0 | Dec 2022 0.0 | Mar 2023 0.0 | Jun 2023 0.0 | Sep 2023 0.0 | Dec 2023 0.0 | Mar 2024 0.0 | Jun 2024 0.0 | Sep 2024 0.0 | Dec 2024 0.0 | Mar 2025 0.0 | Jun 2025 0.0 | Sep 2025 0.0 | Dec 2025 0.0 | Mar 2026 0.0
- SOHU: Jun 2021 — | Sep 2021 0.6 | Dec 2021 0.5 | Mar 2022 0.5 | Jun 2022 0.5 | Sep 2022 0.6 | Dec 2022 0.4 | Mar 2023 0.5 | Jun 2023 0.4 | Sep 2023 0.3 | Dec 2023 0.3 | Mar 2024 0.3 | Jun 2024 0.5 | Sep 2024 0.5 | Dec 2024 0.4 | Mar 2025 0.4 | Jun 2025 0.4 | Sep 2025 0.4 | Dec 2025 0.3 | Mar 2026 0.3
- GDEV: Jun 2021 — | Sep 2021 -7.3 | Dec 2021 -9.8 | Mar 2022 -9.0 | Jun 2022 -12.0 | Sep 2022 -17.0 | Dec 2022 -8.5 | Mar 2023 -9.9 | Jun 2023 -9.2 | Sep 2023 -5.0 | Dec 2023 -4.4 | Mar 2024 -3.8 | Jun 2024 -4.4 | Sep 2024 -4.4 | Dec 2024 -3.5 | Mar 2025 -1.6 | Jun 2025 -2.1 | Sep 2025 -5.5 | Dec 2025 -3.0 | Mar 2026 —
- CTW: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 3.4 | Mar 2026 2.9
- FIRY: Jun 2021 — | Sep 2021 0.3 | Dec 2021 0.3 | Mar 2022 0.1 | Jun 2022 0.1 | Sep 2022 0.1 | Dec 2022 0.0 | Mar 2023 0.1 | Jun 2023 0.8 | Sep 2023 0.5 | Dec 2023 0.6 | Mar 2024 0.6 | Jun 2024 0.6 | Sep 2024 0.5 | Dec 2024 0.5 | Mar 2025 0.5 | Jun 2025 0.7 | Sep 2025 1.0 | Dec 2025 0.6 | Mar 2026 0.4

## Market action

Firy Inc. has the strongest one-year price move in Electronic Gaming & Multimedia at +46.9%. It also leads on Mansfield relative strength against the S&P 500 at +46.9%. 4 of 9 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. Firy Inc. (FIRY): 47%
2. Electronic Arts Inc. (EA): 33%
3. DoubleDown Interactive Co., Ltd. (DDI): 26%
4. Take-Two Interactive Software, Inc. (TTWO): 12%
5. Playtika Holding Corp. (PLTK): -6.8%

### Strongest relative strength versus NIFTY 500
1. Firy Inc. (FIRY): 47%
2. DoubleDown Interactive Co., Ltd. (DDI): 12%
3. CTW (CTW): 6.9%
4. Playtika Holding Corp. (PLTK): 3.1%
5. Take-Two Interactive Software, Inc. (TTWO): -0.3%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Thin comparisons: Valuation have fewer than three usable current readings.

## Every company
- Electronic Arts Inc. (EA) — market value ₹52.4K Cr; latest fundamentals Mar 2026
- Take-Two Interactive Software, Inc. (TTWO) — market value ₹46.3K Cr; latest fundamentals Mar 2026
- Roblox Corporation (RBLX) — market value ₹35.4K Cr; latest fundamentals Mar 2026
- Playtika Holding Corp. (PLTK) — market value ₹1.5K Cr; latest fundamentals Mar 2026
- DoubleDown Interactive Co., Ltd. (DDI) — market value ₹575 Cr; latest fundamentals Mar 2026
- Sohu.com Limited (SOHU) — market value ₹346 Cr; latest fundamentals Mar 2026
- GDEV Inc. (GDEV) — market value ₹214 Cr; latest fundamentals Dec 2025
- CTW (CTW) — market value ₹155 Cr; latest fundamentals Mar 2026
- Firy Inc. (FIRY) — market value ₹154 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Mar 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which Electronic Gaming & Multimedia company is the biggest?

Electronic Arts Inc. is the largest, with trailing-twelve-month revenue of $7,531 million, ahead of Take-Two Interactive Software, Inc. at $6,657 million. That covers 8 of 9 companies with comparable reporting through Mar 2026.

### Which Electronic Gaming & Multimedia company is growing fastest?

Sohu.com Limited has the fastest revenue growth at 100% year on year, across 8 of 9 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Electronic Gaming & Multimedia company has the best profit margins?

DoubleDown Interactive Co., Ltd. has the highest operating margin at 37.6%, from 8 of 9 comparable companies. Take-Two Interactive Software, Inc. shows the biggest recent improvement, at +239.3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Electronic Gaming & Multimedia company makes the most profit?

Electronic Arts Inc. earns the most, at $887 million of trailing-twelve-month net profit, from 8 of 9 comparable companies. GDEV Inc. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Electronic Gaming & Multimedia company earns the highest return on capital?

GDEV Inc. leads on return on capital employed at 387.1%, across 9 of 9 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Electronic Gaming & Multimedia stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Electronic Arts Inc. screens cheapest at 5.15×. Only 1 of 9 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Electronic Gaming & Multimedia company has the strongest balance sheet?

Sohu.com Limited carries the lowest comparable gross debt at $0 million, from 8 of 9 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Electronic Gaming & Multimedia company is investing most in new capacity?

Electronic Arts Inc. reports the largest capital spending at $61 million, across 9 of 9 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

### Is the Electronic Gaming & Multimedia sector beating the market?

Electronic Gaming & Multimedia has underperformed S&P 500 by 6.4% over the last 52 weeks and 0.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 4 of 9 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Electronic Gaming & Multimedia stock has the strongest price momentum?

Firy Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Electronic Gaming & Multimedia company scores highest for research priority?

DoubleDown Interactive Co., Ltd. scores 59.5 out of 100 with 76.2% evidence confidence, from 15.4 points on growth and earnings, 16.5 on capital efficiency, 11.5 on valuation and 16.1 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Electronic Gaming & Multimedia companies does this comparison cover, and over what period?

It compares 9 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Electronic Gaming & Multimedia sector?

The 9 Electronic Gaming & Multimedia companies on this page carry $137,073 million of combined market value. Electronic Arts Inc. is the largest at $52,374 million, about 38% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the Electronic Gaming & Multimedia sector's P/E ratio?

The median price-to-earnings ratio across the 9 Electronic Gaming & Multimedia companies on this page is 16.2×, measured on the 7 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the Electronic Gaming & Multimedia sector performing?

4 of the 9 covered Electronic Gaming & Multimedia companies are beating S&P 500 on Mansfield relative strength. The sector itself is 6.4% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many Electronic Gaming & Multimedia stocks are listed in the US?

This comparison covers 9 listed Electronic Gaming & Multimedia companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Mar 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/electronic-gaming-multimedia