Keywords Studios (KWS)

Business description

Keywords Studios provides localisation, testing, artwork, community support and engineering services to the video games industry. It provides services to 20 of the top 25 games developers and is leading consolidation of this fragmented industry.

Stock data

Market cap.£469.7m
Last close842.00p
High / Low (52 weeks)842.0p / 260.0p
Stock market listingLN
Forecast net cash (€m)13.2
Forecast gearing ratio (%)N/A

Price performance

Relative *(0.3)31.4142.2

* % Relative to local index

Other companies in sector Show

1Spatial 7digital
Acal accesso Technology Group
ADVA Optical Networking Advanced Computer Software Group
Advanced Micro Devices AIXTRON
All for One Steeb AG Allocate Software
Allot Communications Alpha and Omega Semiconductor
Alphapoint Technology Inc Amazon
Amino Technologies ANADIGICS
Arria NLG Artec technologies
AsiaCell AT&S Austria Technologie & Systemtechnik
Beta Systems Software Blancco Technology Group
blinkx blur Group
Brady Bulletproof Group
Carclo Catapult Group International
CENIT Cerillion provides billing, charging and customer management software, primarily to telecommunicatio
CityFibre Infrastructure Holdings Cliq Digital
CML Microsystems CoAssets
Comptel Craneware
CREALOGIX Cypress Semiconductor
Dillistone Group dotDigital
DSP Group e2v technologies
Eagle Eye Eckoh
Elmos Semiconductor EMIS
EMIS Group Emulex
Endace EnWave Corporation
eServGlobal Esker
Evolving Systems EVR Holdings PLC
Expert System Facebook
Featurespace FFastFill
FinLab AG Fintech Group
First Derivatives First Sensor
Focus Solutions Group Foresight Autonomous Holdings
Freelancer Fusionex International
Gamma Communications GB Group
GBST Holdings GeoOp
GFT Globo
GO internet Himax Technologies
Hrvatski Telekom ifa systems
ikeGPS Group Infinera
Inmarsat Innovation Group
InVision IQE
IXYS Jenoptik
K3 Business Technology Kainos
Kalibrate Technologies Learning Technologies Group
LRAD Corporation Magix
Manpower Software Manx Telecom
Manz Maxima Holdings
Medicsight Mensch und Maschine
Mercia Technologies Micro Focus International
Micron Technology Migme
Mobile ecosystems Monitise
Montage Technology Morse
mVISE My Net Fone
Nano Dimension Nanoco Group
nearmap Nemetschek
Netcall NetDimensions
Netflix Nexus Management
O2Micro International OMG
OmniVision Technologies Orion Health Group
Outsourcery Panorama Synergy
Pantaleon Entertainment Patsystems
Paysafe Pebble Beach Systems Group
Pericom Semiconductor Phitek
Piteco PLX Technology
Pointer Telocation Pricer
Prodware PSI
Pure Wafer QSC
Real Estate Investar Group REALTECH
Redflex Holdings Redstone
Reed Elsevier Reply SpA Rex Bionics
Rheinmetall RM
Secunet Seeing Machines
Sepura Serko
Seven Principles Siemens
Sigma Designs Silicom
Silicon Image SimiGon
SinnerSchrader SITO Mobile
SLI Systems Smartpay Holdings
SNP Schneider-Neureither & Partner Software AG
Solera Spansion
Spirent Communications SQS Software Quality Systems AG
Stadium Group StatPro Group
Store Electronic Systems Straker Translations
SuperCom Synchronica
Taptica Technology sector
Texas Instruments The Marketing Group
Thin Film Electronics Thoughtonomy
Tikit Group Toumaz
Track Group TXT e-solutions
TZ Limited Ubisense Group
UMT United Mobility Technology United Power Technology
VASCO Data Security Vectron Systems
Virtual Piggy Vista Group International
Vitec Vizrt
VMob Group WANdisco
Webinar Wincor Nixdorf
WorkPlace Systems International Xploite
Xplore Technologies Corp YuuZoo

Company news

Keywords Studios PLC 17.6% Potential Upside Indicated by finnCap

Mon, 22 May 2017 08:48:45 GMT

Keywords Studios makes move into outsourced software engineering with GameSim ...

Wed, 17 May 2017 07:32:53 GMT

Proactive news round-up: Nasstar, Redx Pharma, Keywords Studios...

Wed, 17 May 2017 15:22:30 GMT

Keywords Studios snaps up content management software group in latest acquisition

Wed, 10 May 2017 07:10:06 GMT

Global game plan propels Keywords Studios to next level

Fri, 05 Feb 2016 14:01:23 GMT

Investment summary

Keywords Studios’ $6m acquisition of Red Hot CG further strengthens the company’s position in the art service line, in China and with Activision. Management estimates that the deal will make Keywords the number one supplier of art production services to the games industry globally and increase art production capacity by 25%. The deal further enhances our estimated FY18 earnings by 6%, with the three acquisitions made so far in May enhancing earnings by 11% versus our April forecasts.

Last updated on 22/05/2017

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2015A 58.0 9.5 8.0 12.6 79.4 101.1
2016A 96.6 16.9 14.9 20.3 49.3 32.6
2017E 123.1 21.2 18.6 26.0 38.5 25.5
2018E 136.5 23.7 21.0 29.1 34.4 24.2

Last updated on 22/05/2017

Latest video

Executive Interview - Keywords Studios

Industry outlook

The global games industry is estimated to be worth US$90-100bn. Newzoo estimates the industry grew 8.5% in 2016 and will expand at an annual rate of 6.6% through 2019. Industry consolidation is ongoing and there is a continued trend to technical outsourcing as publishers seek to improve flexibility and efficiency. Both trends should benefit Keywords.

Last updated on 02/05/2017

Key management

Ross Graham, Chairman
Andrew Day, CEO
David Broderick, FD

Company address

South County Business Park
Dublin 18
+353 1 902 2730
View website