Super Group (SGHC) Ltd
SGHC · Services-Miscellaneous Amusement & Recreation · EDGAR filings ↗
Grade
B79Profitable, cash-generative global online betting operator with strong returns and a near debt-free balance sheet.
Strengths
- ROE 20.4% (82nd pct), ROA 10.8% (92.9th), FCF margin 93.8th and net margin 76th pct
- Scaled, diversified geographies, minimal leverage and strong liquidity
Risks
- Net income fell sharply (growth 7th pct) on U.S. exit and acquisition noise
- Heavy regulatory/licensing and trading-risk exposure across many jurisdictions
Notable findings
- Material weakness• Failure to maintain adequate financial, information technology and management processes and controls could result in material weaknesses which could lead to errors in our financial reporting, which
- Customer concentration~33% of revenue from one customer/distributor — 2 billion in net gaming revenue for the year ended December 31, 2025 in different geographic regions, including North America, South America, Europe, Africa and Middle East, and Asia-Pacific, such reg
- Strong balance sheetStrong balance sheet — $388M cash & investments
Key metrics
Net margin
6.7%
Return on equity
20.4%
Return on assets
10.8%
Revenue growth (QoQ)
11.3%
Debt / equity
0.0×
Current ratio
1.3×
Free cash flow
$282M
Tangible book value
$484M
Cash & investments
$388M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-17 | 2025-12-31 | 0001628280-26-025609 ↗ |
| 20-F | 2025-04-03 | 2024-12-31 | 0001628280-25-016393 ↗ |
| 20-F | 2024-04-25 | 2023-12-31 | 0001628280-24-017818 ↗ |
| 20-F | 2023-04-27 | 2022-12-31 | 0001628280-23-013361 ↗ |
| 20-F | 2022-04-20 | 2021-12-31 | 0001193125-22-111273 ↗ |
| 20-F | 2022-02-02 | 2022-01-27 | 0001193125-22-025871 ↗ |