返回排名列表

Take-Two Interactive Software, Inc. (TTWO)

合理估值
Communication ServicesElectronic Gaming & MultimediaUnited States

基本面

32

价格

$202.01

市值

$37.95B

第一部分 · 这家公司值多少

概览

Take-Two develops and publishes video games through three largely independent labels: Rockstar Games (Grand Theft Auto, Red Dead Redemption), 2K (NBA 2K and other sports and strategy titles) and Zynga (mobile games such as Words With Friends and Toon Blast). Games are sold as boxed or digital purchases and, increasingly, as free-to-play experiences monetised after the initial download rather than at the point of sale.

盈利方式

Most bookings now come from recurrent consumer spending — virtual currency, add-on content, in-game purchases and in-game advertising inside games players keep returning to, rather than from selling a new copy once. That recurring spending made up 80% of net bookings in fiscal 2025. The rest is full-game and expansion sales, concentrated around a small number of blockbuster releases each year.

护城河

专利与许可 · 狭窄

Grand Theft Auto and NBA 2K are franchises with decades of accumulated brand value that a new entrant cannot replicate; Grand Theft Auto Online still generates meaningful revenue more than a decade after the base game shipped. The moat is narrower than it looks, though, because the business still depends on each new flagship release landing well and on time.

需求驱动因素

周期性

Results swing with the release calendar of a handful of blockbuster titles and with discretionary consumer spending on entertainment, which contracts when budgets tighten. Mobile recurrent spending through Zynga smooths some of that lumpiness, but the market's attention — and much of the company's own guidance — still centres on the timing of the next major Rockstar release.

主要风险

  • Concentration in a handful of blockbuster titles — A small number of franchises — Grand Theft Auto, NBA 2K, Red Dead Redemption — account for most net bookings; a delay, quality problem or weak reception for any one of them has an outsized effect on results.
  • Dependence on the next Grand Theft Auto release — Investor expectations and long-term development spending are heavily tied to the next entry in the Grand Theft Auto series; further delay or a mixed reception would remove a result the market has already priced in.
  • Dependence on platform holders — Games are distributed largely through storefronts controlled by Sony, Microsoft, Apple and Google, which set the fees, policies and discoverability rules Take-Two must work within and cannot change.
  • Mobile engagement risk — Zynga's recurrent revenue depends on keeping players engaged in free-to-play games over years; player tastes and mobile advertising economics can shift quickly and reduce that spending with little warning.

看多理由

Buyers argue that Rockstar's next Grand Theft Auto release will reset the growth trajectory for years, and that recurrent consumer spending across 2K and Zynga already gives the company a large, more predictable revenue base to build on between blockbuster launches.

看空理由

Sellers fear that so much value is riding on a single unreleased title that further delay or a disappointing launch would be very hard to offset, and that mobile recurrent spending through Zynga is a lower-margin, more fickle business than the console franchises it is meant to complement.

Written by the editors, published on 2026年8月18日

Direct competitors

Who this company fights with for the same customers

No editorial profile for this company yet

No competitor list for this company yet.

资产负债表与流动性

营收

$6.69B

最近12个月(截至2026/6/30)

净利润

$-320M

最近12个月(截至2026/6/30)

自由现金流

$462M

股东权益合计

$3.51B

负债合计

$5.87B

流动比率

1.06

利息覆盖率

1.13

债务/EBITDA

31.23

每股收益

营收与净利润

自由现金流

收入构成

历史财务表

利润率变化

债务变化

债务负担有多重

增长一览表

增长 — 营业收入

公允价值估算

一般情形合理估值

公允价值

$201.78

当前价格

$202.01

安全边际

-0.1%

公允价值区间

$131.16 - $272.40

所用估值方法之间的离散区间,并非经过统计校准的置信区间。

估算方法

分析师目标价:$286.44
现金流折现法(DCF):$88.90
市盈率法(P/E):数据不足,无法计算
格雷厄姆成长公式:数据不足,无法计算
盈利能力价值(EPV):数据不足,无法计算
合理市净率(P/B):数据不足,无法计算
股息折现模型(戈登模型):数据不足,无法计算
P/FFO(运营资金):数据不足,无法计算
周期中段收益:$2.67
市销率法(P/S):$73.79
分析师共识:强力买入 (36B / 3H / 0S)
最近财报超预期:+4.10%

估值指标

市盈率(P/E)

-

ROE

-8.5%

市净率(P/B)

10.75

P/FCF

114.96

毛利率

56.0%

ROIC

-2.0%

盈利能力雷达图

价值创造(经济护城河)

ROIC

-2.0%

WACC

9.2%

ROIC − WACC

-11.2 pp

ROIC 低于资本成本:公司每投入一美元都在毁灭价值。

基本面分析标准

通过(10)

  • Price CAGR 15.39%
  • Gross Margin 56.0%
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • Current Ratio
  • Revenue Growth 5Y 14.6%
  • Analyst Consensus 92% Buy
  • Earnings Surprise avg 36.2%
  • Net Margin Trend -4.8% vs -72.9%
  • Piotroski F-Score 7/9

未通过(13)

  • EPS shows upward trend
  • ROIC -2.0%
  • P/FCF 114.96
  • P/B Ratio 10.75
  • Operating Margin -2.4%
  • CapEx intensity
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • Low reliance on intangibles
  • DCF valuation (Overvalued)
  • ROE -9.1%
  • Share Dilution 5.1%

不可用(4)

  • Dividend Payout NaN%
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)
  • Earnings Quality (OCF/Net Income)

Piotroski F-评分

7/9

财务状况强健

score
criteria

盈利质量

-

低质量:需深入审查会计处理

股权稀释

5.1%

正在发行新股,稀释所有权

机构持股

公司治理

管理团队

姓名职位年龄
Mr. Strauss H. Zelnick Esq., J.D.Executive Chairman & CEO64
Mr. Karl SlatoffPresident55
Ms. Lainie Goldstein CPAChief Financial Officer57
Mr. Daniel P. Emerson J.D.Executive VP & Chief Legal Officer53
Ms. Nicole B. ShevinsSenior Vice President of Investor Relations & Corporate Communications-
Mr. Matthew K. BreitmanSenior VP, General Counsel of Americas & Corporate Secretary-
Ms. Linda ZabriskieVP & Associate General Counsel-

审计风险

4

董事会风险

8

薪酬风险

2

股东权利风险

4

第二部分 · 价格与买入时机

这一部分不判断公司是否值得拥有:它帮助你在基本面说服你之后,选择何时买入。包含:技术分析、潜力、历史回撤、Gamma 敞口。

文件

  • 年度报告(10-K)

    对公司业务、财务业绩和风险的年度概述。

    提交日期:2026-05-22

    查看文件
  • 季度报告(10-Q)

    最近三个月财务表现的最新情况。

    提交日期:2026-08-07

    查看文件
  • 临时报告(8-K)

    关于重大事件(如管理层变动或重要公告)的通知。

    提交日期:2026-09-30

    查看文件

via SEC EDGAR

损益历史

via SEC EDGAR

Latest News

Recent headlines for TTWO, sourced from Markets Gazette.

  • 5/26/2026NEUTRAL
    Congressman Sells Take-Two Stock Before 'GTA VI' Release Date: Here's How Much He Made

    A US Congressman has divested shares of Take-Two Interactive Software, Inc. (TTWO) prior to the official release date announcement of the highly anticipated video game 'Grand Theft Auto VI'. The exact profit realized from this sale remains undisclosed in the provided snippet, but the timing raises questions about potential insider knowledge. While the sale itself does not directly impact the company's valuation, it highlights potential regulatory scrutiny for politicians trading stocks of companies involved in major product launches. Investors will monitor any further developments regarding the congressman's trading activities and potential implications for corporate governance.

  • 5/23/2026NEUTRAL
    Benzinga Bulls And Bears: Take-Two, AMC, Rivian — And Markets Up For Eighth Straight Week

    This article from Benzinga's Bulls and Bears series examines the prospects of several prominent stocks, including Take-Two Interactive Software, AMC Entertainment Holdings, and Rivian Automotive. The piece highlights that the broader market has experienced an eight-week winning streak, suggesting a generally positive sentiment across equities. However, the focus on individual company prospects within this context indicates a need for investors to conduct specific due diligence rather than relying solely on market momentum. The article does not provide specific financial data or forward-looking statements for any single company, making its direct impact on stock valuation uncertain.

  • 5/22/2026POSITIVE
    What's Going On With Take-Two Stock On Friday?

    Take-Two Interactive Software Inc. shares experienced volatility on Friday, initially spiking in pre-market trading before declining. The company reported quarterly earnings that surpassed analyst expectations. Crucially, Take-Two provided a fiscal year 2027 bookings forecast that projects record levels, largely attributed to the anticipated November 19th launch of Grand Theft Auto VI. This forward-looking guidance, highlighting a major upcoming release, suggests strong future revenue potential for investors.

  • 5/21/2026NEUTRAL
    Top Wall Street Forecasters Revamp Take-Two Interactive Expectations Ahead Of Q4 Earnings

    Take-Two Interactive is set to release its fourth-quarter earnings on May 21st. Wall Street analysts are forecasting an Earnings Per Share (EPS) of $2.52 and revenue of $2.52 billion. The stock experienced a minor dip of 0.6% to close at $236.62. Current analyst ratings lean positive, with a consensus of Buy/Outperform. Recent upgrades from MKM Partners in March 2022 from Neutral to Buy, alongside maintained Buy ratings from Deutsche Bank and Keybanc's Overweight, suggest a generally optimistic outlook from the analyst community despite the upcoming earnings report.

  • 4/14/2026NEUTRAL
    Here's How Much You Would Have Made Owning Take-Two Interactive Stock In The Last 10 Years

    An analysis of Take-Two Interactive Software, Inc. (TTWO) stock performance over the past decade reveals a significant, albeit volatile, growth trajectory. While specific returns are not detailed in the provided snippet, historical data indicates substantial appreciation for shareholders who maintained their positions. This long-term perspective is crucial for investors evaluating the company's potential, highlighting its resilience and capacity for growth in the competitive video game industry. The article serves as a retrospective on past performance rather than a forward-looking investment recommendation.

  • 3/10/2026POSITIVE
    Here's How Much You Would Have Made Owning Take-Two Interactive Stock In The Last 15 Years

    An analysis of Take-Two Interactive Software Inc. (TTWO) stock reveals a substantial return for long-term investors over the past 15 years. While specific figures are not provided in the summary, the article implies significant capital appreciation, likely driven by the company's successful game releases and strategic acquisitions within the highly competitive video game industry. Investors who held TTWO stock through this period would have benefited from the company's growth trajectory, potentially outpacing broader market indices. This historical performance suggests a strong underlying business model and effective management.

  • 3/4/2026POSITIVE
    Demystifying Take-Two Interactive: Insights From 8 Analyst Reviews

    Take-Two Interactive Software, Inc. (TTWO) is experiencing a wave of positive analyst reviews. In March 2022, MKM Partners upgraded its rating from Neutral to Buy. In February 2022, Deutsche Bank maintained its Buy rating, while Keybanc confirmed an Overweight rating. These updates signal increasing analyst confidence in the company's future prospects, suggesting investors might consider a buying opportunity. A focus on stocks with Buy or Overweight ratings is a bullish sign for the stock.

  • 2/20/2026NEUTRAL
    Here's How Much $100 Invested In Take-Two Interactive 15 Years Ago Would Be Worth Today

    The article analyzes the historical return of a $100 investment in Take-Two Interactive 15 years ago, providing a retrospective on its current value. It contains no new or forward-looking information that could influence the stock's current or future price, making it purely informational news.

via Markets Gazette