Take-Two Interactive Software, Inc. (TTWO)
NEUTRALファンダメンタル
39
株価
$233.35
時価総額
$43.66B
パート1 · 企業の価値
概要
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.
収益の仕組み
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.
競争優位性（moat）
特許・ライセンス · 狭い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.
需要を左右する要因
景気循環型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.
主なリスク
- 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.
強気材料
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.
弱気材料
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.
貸借対照表と流動性
売上高
$6.69B
直近12か月（2026/6/30まで）
純利益
$-320M
直近12か月（2026/6/30まで）
フリーキャッシュフロー
$462M
自己資本合計
$3.51B
負債合計
$5.87B
流動比率
1.06
利払い倍率
1.13
負債/EBITDA
31.23
一株当たり利益（EPS）
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$200.15
現在株価
$233.35
安全マージン
-16.6%
適正価値レンジ
$130.10 - $270.21
推定方法
バリュエーション指標
P/E レシオ
-
ROE
-8.5%
P/B レシオ
12.10
P/FCF
129.36
粗利益率
56.0%
ROIC
-2.0%
収益性レーダー
Value Creation (Economic Moat)
ROIC
-2.0%
WACC
9.6%
ROIC − WACC
-11.6 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
ファンダメンタル分析基準
合格（10）
- Price CAGR 17.13%
- 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
不合格（13）
- EPS shows upward trend
- ROIC -2.0%
- P/FCF 129.36
- P/B Ratio 12.10
- Operating Margin -2.4%
- CapEx intensity
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- DCF valuation (Overvalued)
- ROE -8.6%
- Share Dilution 5.1%
データなし（4）
- Dividend Payout NaN%
- Price below Graham Number
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
Piotroski F-スコア
財務健全性が高い
利益の質
低品質：会計処理を調査してください
株式希薄化
新株を発行しており、所有権を希薄化している
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Mr. Strauss H. Zelnick Esq., J.D. | Executive Chairman & CEO | 64 |
| Mr. Karl Slatoff | President | 55 |
| Ms. Lainie Goldstein CPA | Chief Financial Officer | 57 |
| Mr. Daniel P. Emerson J.D. | Executive VP & Chief Legal Officer | 53 |
| Ms. Nicole B. Shevins | Senior Vice President of Investor Relations & Corporate Communications | - |
| Mr. Matthew K. Breitman | Senior VP, General Counsel of Americas & Corporate Secretary | - |
| Mr. Michael Condrey | President of New Game Development Studio - Silicon Valley | - |
| Ms. Linda Zabriskie | VP & Associate General Counsel | - |
監査リスク
4
取締役会リスク
7
報酬リスク
2
株主権利リスク
4
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
Latest News
Recent headlines for TTWO, sourced from Markets Gazette.
- 5/26/2026NEUTRALCongressman 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.
- 5/23/2026NEUTRALBenzinga 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.
- 5/22/2026POSITIVEWhat'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.
- 5/21/2026NEUTRALTop 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.
- 4/14/2026NEUTRALHere'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.
- 3/10/2026POSITIVEHere'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.
- 3/4/2026POSITIVEDemystifying 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.
- 2/20/2026NEUTRALHere'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