The business in plain English
Electronic Arts develops, publishes and markets video games for consoles, PCs and mobile devices. Its major franchises include EA SPORTS FC (global football, or soccer), the American football games EA SPORTS College Football and EA SPORTS Madden NFL, The Sims, Apex Legends and Battlefield. EA says revenue from the FC and American football games is material, meaning big enough to move its results.
Much of the money comes after the first sale. Live services, meaning extra content, subscriptions and other revenue outside full-game sales, made up 71% of net revenue in the fiscal year ended March 31, 2026. The most popular is Ultimate Team, a mode where players collect real athletes, past and present, to build their own team. Extra content purchased there, much of it in FC Ultimate Team, is material to EA's business. Some games are free to download and earn money from in-game purchases.
Total revenue was $7.53 billion that year. Console games brought in 62.3%, PC and other 23.2%, and mobile 14.5%. Sales outside North America made up 59.7%. EA reaches players mainly through platform owners: direct sales to Sony and Microsoft were about 39% and 16% of net revenue. Mobile games go through Apple and Google, and PC games through the EA app and stores such as Steam.
Price history
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EA +31.8% over the year to Aug 4, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Console | $4.69B | 62.3% |
| PC and other | $1.75B | 23.2% |
| Mobile | $1.09B | 14.5% |
By geography
| International | $4.50B | 59.7% |
| North America | $3.03B | 40.3% |
Latest results
- In Q1 FY2027 (ended Jun 30, 2026), revenue was $1.99B, up 18.9% from a year earlier, and net income was $397.0M (+97.5%).
- For fiscal 2026, revenue was $7.53B (+0.9% year over year; +6.0% a year from FY2021 to FY2026) with a 11.8% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +6.0% good |
|---|---|
| Operating margin | 15.4% good |
| Free cash flow margin | 30.8% good |
| Return on equity (FY2026) | 13.1% watch |
| Return on assets (FY2026) | 6.8% watch |
| Net cash (cash minus debt) | $802.0M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $5.63B | $837.0M | $1.81B |
| FY2022 | $6.99B | $789.0M | $1.71B |
| FY2023 | $7.43B | $802.0M | $1.34B |
| FY2024 | $7.56B | $1.27B | $2.12B |
| FY2025 | $7.46B | $1.12B | $1.86B |
| FY2026 | $7.53B | $887.0M | $2.32B |
Valuation snapshot
| Market value | $52.93B |
|---|---|
| P/E ratio | 59.7 |
| Dividend yield | 0.36% |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| EA price data to Aug 4, 2026 | +2.8% | +31.8% | +20.2% | +9.0% | +10.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +2.8% |
| 2025 | +40.3% |
| 2024 | +7.5% |
| 2023 | +12.7% |
| 2022 | -6.8% |
| 2021 | -7.7% |
| 2020 | +33.8% |
| 2019 | +36.2% |
| 2018 | -24.9% |
| 2017 | +33.4% |
| 2016 | +14.6% |
| 2015 | +46.2% |
| 2014 | +105.0% |
| 2013 | +58.0% |
| 2012 | -29.5% |
| 2011 | +25.8% |
| 2010 | -7.7% |
| 2009 | +10.7% |
| 2008 | -72.5% |
| 2007 | +16.0% |
| 2006 | -3.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 73.8% over that stretch · deepest drop along the way 75.8%, back to its old high 75.1 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 13% over that stretch · deepest drop along the way 22.3%, back to its old high 0.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 11.5% over that stretch · deepest drop along the way 19.6%, back to its old high 0.7 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 10 sales ($4.2M), 9 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 15, 2026 | Andrew Wilson Chairman & CEO, Director | sell (plan) | $1.0M |
| Jul 15, 2026 | Andrew Wilson Chairman & CEO, Director | sell (plan) | $663K |
| May 28, 2026 | Eric Charles Kelly Chief Accounting Officer | sell | $602K |
| Jun 15, 2026 | Laura Miele President, Enterprise Dev. | sell (plan) | $508K |
| Jul 15, 2026 | Andrew Wilson Chairman & CEO, Director | sell (plan) | $372K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.6% | Mar 31, 2025 |
| Vanguard Capital Management | 7.1% | Mar 31, 2026 |
| STATE STREET CORPORATION | 5.7% | Mar 31, 2026 |
| Pentwater Capital Management LP | 5.1% | Mar 31, 2026 |
ETFs with the most weight in EA
| NERD Roundhill Video Games ETF | 5.97% |
| HERO Global X Video Games & Esports ETF | 5.8% |
| ESPO VanEck Video Gaming and eSports ETF | 5.33% |
| RSPC Invesco S&P 500 Equal Weight Communication Services ETF | 4.63% |
| WBIL WBI BullBear Quality 3000 ETF | 4.41% |
| XLC Communication Services Select Sector SPDR Fund | 4.33% |
| BNGE First Trust S-Network Streaming and Gaming ETF | 4.23% |
| OND ProShares On-Demand ETF | 4.15% |
What could go wrong
- Takeover deal and change in control. A September 2025 agreement to be acquired by investors limited EA's acquisitions and borrowing and could trigger a termination fee up to $1.0 billion. An August 4, 2026 filing reported a change in control.
- Heavy reliance on a few sports franchises. Revenue from EA SPORTS FC and the American football games is material, and Ultimate Team extra content is a big earner. A weak release or fading interest in these could hurt results.
- Sony and Microsoft hold the keys. Direct sales to Sony and Microsoft were about 39% and 16% of net revenue in fiscal 2026. They set many terms on their own and need not license future consoles to EA.
- Rules on virtual items and currency. Laws on virtual items and virtual currency, which power in-game purchases, have already limited or restricted EA's sales in some territories, and new rules could go further.
- Licenses for others' intellectual property. EA uses intellectual property owned by others in its games and competes with rivals for those rights. Losing or failing to renew key licenses could weaken popular franchises.
- A hit-driven market with growing competition. A small number of games drive a large share of player time and revenue. Richer rivals, and new entrants helped by artificial intelligence lowering barriers to making games, compete for players and talent.
Recent events
- Major agreement signed; Major agreement ended; Acquisition or sale of assets completed; Listing notice from the exchange; Change to shareholder rights; Change in control; Executive or board change; Bylaws or fiscal year changed; Investor presentation or announcement; Other company announcement
- Other company announcement
- Quarterly results released; Other company announcement
- Other company announcement
- Quarterly results released; Other company announcement
- Major agreement ended; Debt obligation accelerated; Other company announcement
- Shareholder vote results
- Other company announcement
- Quarterly results released; Other company announcement
For income and retirement investors
EA pays a small dividend: $0.76 per share in the fiscal year ended March 31, 2026, unchanged since fiscal 2023 after rising from $0.34 in fiscal 2021. That used about 22% of earnings and 8% of free cash flow (cash left after running and investing in the business). With a yield of 0.36% as of August 4, 2026, most of any return would come from the share price. EA spent far more on buybacks, repurchasing its own stock: $7.2 billion over fiscal 2022–2026, versus about $1.0 billion in dividends.
The stock fell 75.8% in the 2008 crisis and did not recover until 2015, but bounced back within a month after drops of 22.3% in 2020 and 19.6% in 2022. An August 4, 2026 filing reported a change in control, and EA no longer lists a ticker with the SEC, so its shares may no longer trade publicly. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Electronic Arts make money?
EA makes most of its money from live services rather than one-time game sales. Extra content, subscriptions and other revenue outside full-game sales made up 71% of net revenue in the fiscal year ended March 31, 2026. Its most popular live service is extra content in Ultimate Team, a mode where players build teams of real athletes. Total revenue was $7.53 billion, with consoles bringing in 62.3%, PC and other 23.2%, and mobile 14.5%.
Does EA pay a dividend?
Yes, but it is small. EA paid $0.76 per share in the fiscal year ended March 31, 2026, unchanged since fiscal 2023, so it has no running streak of increases. The yield was 0.36% as of August 4, 2026, and dividends used about 22% of earnings. EA has spent far more on buybacks: $7.2 billion over fiscal 2022–2026, versus about $1.0 billion in dividends.
Is Electronic Arts being taken private?
Yes, and filings indicate the deal has closed. On September 28, 2025, EA agreed to be acquired by an investor group made up of the Public Investment Fund and private investment funds affiliated with Silver Lake and Affinity Partners. A company filing on August 4, 2026 reported a completed acquisition, a change in control and a listing notice from the stock exchange, and EA no longer lists a ticker with the SEC. That suggests its shares no longer trade publicly.
How much does EA depend on PlayStation and Xbox?
Heavily. Direct sales to Sony and Microsoft made up about 39% and 16% of EA's net revenue in the fiscal year ended March 31, 2026, and console games brought in 62.3% of total revenue. Sony and Microsoft set many commercial terms on their own, can end the agreements if EA breaches them and does not fix it, and are not obliged to license future consoles to EA.
How has EA stock performed over the long term?
It has risen over the long run, with deep drops along the way. As of August 4, 2026, the share price had gained about 10.7% a year over 10 years (176% in total), about 9% a year over five years, and 31.8% over one year. It rose 40.3% in calendar 2025. But it fell 75.8% in the 2008 financial crisis and did not recover until 2015.