Keywords Studios (KWS)

Business description

Keywords Studios provides localisation, testing, artwork, community support and now engineering services exclusively 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.£411.4m
Last close737.50p
High / Low (52 weeks)859.0p / 260.0p
Stock market listingLN
Forecast net cash (€m)13.2
Forecast gearing ratio (%)N/A

Price performance

Relative *(7.9)17.9113.0

* % 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
Algomizer All for One Steeb AG
Allocate Software Allot Communications
Alpha and Omega Semiconductor Alphapoint Technology Inc
Amazon Amino Technologies
Artec technologies AsiaCell
AT&S Austria Technologie & Systemtechnik Beta Systems
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
Cypress Semiconductor DATAGROUP
DDD Group Dillistone Group
dotDigital DSP Group
e2v technologies Eagle Eye
Eckoh Elmos Semiconductor
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 FreeAgent
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
TerraNet 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

Company news

Keywords Studios PLC

Wed, 27 Apr 2016 10:52:46 GMT

Founders cut their stake in Keywords Studios

Wed, 24 May 2017 07:40:56 GMT

A Chartists Perspective on Keywords Studios PLC (KWS.L)

Tue, 27 Jun 2017 06:22:30 GMT

Keywords Studios agrees to buy animator Spov

Fri, 17 Feb 2017 07:35:43 GMT

Keywords beats expectations once again in 2016

Wed, 08 Feb 2017 07:49:05 GMT

Investment summary

The three acquisitions in May have enhanced our FY18 EPS forecast by 11% while broadening and strengthening the company's proposition. The acquisition of GameSim for $4.76m marks the company’s long-planned entry into engineering. We expect follow-on acquisitions as it replicates its strategy of building a service line through consolidating the fragmented games outsourcer market. The $6m acquisition of Red Hot CG makes it the largest provider of art creation services to the games industry and strengthens the company's position in China and with Activision. The shares will be included in the MSCI UK index from 31 May.

Last updated on 01/06/2017

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 67.4 85.9
2016A 96.6 16.9 14.9 20.3 41.9 27.7
2017E 123.1 21.2 18.6 26.0 32.7 21.7
2018E 136.5 23.7 21.0 29.1 29.2 20.5

Last updated on 24/05/2017

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 01/06/2017

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