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Road Studio Spólka Akcyjna (RST) fair value: what the stock is really worth

As of Nov 4, 2026: fair value (intrinsic value) of Road Studio Spólka Akcyjna stock PLN 10.79, price PLN 4.60, upside +134.6%, quality 48 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Communication Services PL · ISIN PLA348700016

RS Thin data Nov 5, 2026

Road Studio Spólka Akcyjna

RST · WAR
Cheap, value-trap risk

The stock costs 57% less than our calculation considers fair.

Fair value 10.79 PLN · Strongly undervalued (57%)
Even on cautious assumptions the value is 76% above the price (8.10 PLN).
Quality 48/100
Expensive Growth (revenue 3y +90.3 %/yr in PLN)
Loss-making · -47.6% net margin (TTM)
Negative free cash flow
Trails peers (2/10)
Narrow moat 33/100 · thin data
Thin data
⚠ Thinly traded

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

55.20 PLN 4.30 PLN Fair Value 10.79 PLN Jan 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

58‑month range 4.30 PLN – 55.20 PLN · fair‑value band 8.10 PLN – 13.49 PLN · the 4.60 PLN price screens below the 10.79 PLN fair value. As of Nov 5, 2026.

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Company profile

Road Studio Spólka Akcyjna produces and sells games in Poland and internationally. The company offers games for PC and console platforms under the Alaskan Road Truckers and Road Truckers: New Beginning names. It also exports its products.

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Road Studio Spólka Akcyjna was founded in 2020 and is headquartered in Warsaw, Poland.

Stock analysis

Road Studio Spólka Akcyjna (RST) currently trades at 4.60 PLN, while our model-based Fair Value estimate is 10.79 PLN, implying the stock looks roughly 57% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 92/100, which puts the data coverage at low.

Scenario range: 8.10 PLN (bear) to 13.49 PLN (bull), the price of 4.60 PLN sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 48/100 (below-average quality), in the Communication Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Road Studio Spólka Akcyjna reported revenue of 1.2M PLN in FY2025 versus 181K PLN in FY2022, a compound +90.3%/yr. Reported net income was −945K PLN in FY2025.

Key figures

Market cap 6.8M PLN (≈ $1.7M) Micro · P/S ratio 7.78 · EPS (TTM) −0.2800 PLN · Net margin −47.6% · Return on equity −12.0% · Return on assets (EBIT) −14.9% · Operating margin 61.0% · Revenue (TTM) 852K PLN.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).

What moves the price

The share trades about 40% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 48% fair-value upside, at 135%, RST screens cheaper than that median.

Fair Value models

Bear 8.10 PLN Fair Value 10.79 PLN Bull 13.49 PLN
Price 4.60 PLN · Upside +134.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EV/EBITDA 8.10 PLN 10.79 PLN 13.49 PLN 64
NCAV (Graham) 1.00 PLN 1.34 PLN 2.00 PLN 51
All 2 models by family
Multiples
EV/EBITDA 8.10 PLN 10.79 PLN 13.49 PLN 64
Asset-Based
NCAV (Graham) 1.00 PLN 1.34 PLN 2.00 PLN 51

Open the full fair value analysis →

Quality Score breakdown

Overall quality 48/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 11
How much profit the company makes from its sales and capital
Quality Growth 69
Are margins and returns getting better?
Cashflow 39
Do the profits arrive as real cash?
Financial strength 48
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 54
How calm the share price moves, does not count
Price momentum 13
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 7
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+320.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+90.3%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−389.7% (2022) → −80.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electronic Gaming & Multimedia · 164 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside +134.6% · Top 25%
Profitability
Return on assets −19.0% · Bottom 25%
Net margin (12 months) −47.6% · Bottom 25%
Operating margin (12 months) 61.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −34.9% · Bottom 25%

Valuation Multiplesvs Electronic Gaming & Multimedia median · lower = cheaper

P/B 2.30× · Pricier than median
P/S (12 months) 7.95× · Priciest 25%
EV/EBITDA 9.2× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 51
FUTURE (revenue growth)0 · sector 10
PAST (return on equity)0 · sector 15
HEALTH (low debt)0 · sector 100
DIVIDEND (yield)0 · sector 60

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
37 Interactive Entertainment Network Technology Group 002555 ¥16.67 ¥38.45 +131% vs RST
Zhejiang Century Huatong Group 002602 ¥12.87 ¥27.63 +115% vs RST
NetEase, Inc NTES $121.26 $256.19 +111% vs RST
KRAFTON, Inc 259960 212,000 KRW 410,472 KRW +94% vs RST
Giant Network Group 002558 ¥21.66 ¥31.97 +48% vs RST
International Games System Co 3293 778.00 TWD 1,094 TWD +41% vs RST
Kingnet Network Co 002517 ¥16.93 ¥21.73 +28% vs RST
Roblox Corporation RBLX $49.31 $44.31 −10% vs RST
Take-Two Interactive Software, Inc TTWO $208.90 $75.06 −64% vs RST
CD Projekt S.A CDR 264.00 PLN 67.47 PLN −74% vs RST

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Road Studio Spólka Akcyjna: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Road Studio Spólka Akcyjna Fair Value". https://www.fairvalue-calculator.com/stock/RST.WAR

Frequently asked questions

Is Road Studio Spólka Akcyjna (RST) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 10.79 PLN versus a price of 4.60 PLN, about +135% upside (undervalued).
What is the fair value of RST?
Our model-based fair value for Road Studio Spólka Akcyjna is 10.79 PLN (as of Nov 5, 2026), built from audited fundamentals. The current price: 4.60 PLN.
What is the quality score of RST?
Road Studio Spólka Akcyjna has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Road Studio Spólka Akcyjna (RST)?
Our model-based price target is the fair value of 10.79 PLN (as of Nov 5, 2026) from 2 valuation models. Cautious scenario 8.10 PLN, optimistic scenario 13.49 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Road Studio Spólka Akcyjna stock forecast for 2026?
Our models put fair value at 10.79 PLN, about +135% upside versus a price of 4.60 PLN (undervalued). Cautious scenario 8.10 PLN, optimistic scenario 13.49 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Road Studio Spólka Akcyjna (RST)?
Road Studio Spólka Akcyjna reported trailing-twelve-month revenue of about 852K PLN (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of Road Studio Spólka Akcyjna (RST)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Road Studio Spólka Akcyjna it is 10.79 PLN per share (as of Nov 5, 2026), against a price of 4.60 PLN. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Road Studio Spólka Akcyjna stock overvalued or undervalued in 2026?
As of Nov 5, 2026, RST trades below its calculated fair value: price 4.60 PLN, fair value 10.79 PLN, a gap of about +135% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of RST?
No. The price is what the market pays today (4.60 PLN); the fair value is what the company's own numbers justify (10.79 PLN). For Road Studio Spólka Akcyjna the two are 6.19 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Road Studio Spólka Akcyjna worth?
The market values Road Studio Spólka Akcyjna at about 6.8M PLN (market capitalisation, as of Nov 5, 2026). Per share that is 4.60 PLN; our models calculate a fair value of 10.79 PLN per share.
What do the bullish and bearish scenarios say about RST?
Our models span a range for Road Studio Spólka Akcyjna: cautious scenario 8.10 PLN, base 10.79 PLN, optimistic 13.49 PLN per share (as of Nov 5, 2026, price 4.60 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Road Studio Spólka Akcyjna (RST)?
Balance-sheet figures for Road Studio Spólka Akcyjna (as of Nov 5, 2026): return on equity −12.0%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is RST from its 52-week high?
Road Studio Spólka Akcyjna trades at 4.60 PLN, about 40% below its 52-week high of 7.70 PLN and 4% above the low of 4.42 PLN (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of 10.79 PLN is for.
Which stocks are comparable to Road Studio Spólka Akcyjna?
From the same area (Communication Services) we also value NetEase, Inc, Take-Two Interactive Software, Inc, Roblox Corporation, Zhejiang Century Huatong Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Road Studio Spólka Akcyjna stock attractive at the current price?
The data as of Nov 5, 2026: price 4.60 PLN, calculated fair value 10.79 PLN (+135%), Quality Score 48/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of RST calculated?
We run Road Studio Spólka Akcyjna through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 10.79 PLN, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0% above its aggregate fair value. Road Studio Spólka Akcyjna currently trades 57% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Road Studio Spólka Akcyjna (RST)?
The closing price on Nov 4, 2026 was 4.60 PLN. Our model-based fair value is 10.79 PLN, about +135% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Road Studio Spólka Akcyjna right now?
The large discount to fair value meets weak quality (48/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (8.10 PLN). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Road Studio Spólka Akcyjna

How large is the market capitalisation of Road Studio Spólka Akcyjna (RST)?
The market capitalisation of Road Studio Spólka Akcyjna is 6.8M PLN (≈ $1.7M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Road Studio Spólka Akcyjna (RST)?
The price-to-sales ratio of Road Studio Spólka Akcyjna is 7.78 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Road Studio Spólka Akcyjna (RST)?
Earnings per share at Road Studio Spólka Akcyjna are −0.2800 PLN. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Road Studio Spólka Akcyjna (RST)?
The net margin of Road Studio Spólka Akcyjna is −47.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Road Studio Spólka Akcyjna (RST)?
The return on equity (ROE) of Road Studio Spólka Akcyjna is −12.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Road Studio Spólka Akcyjna (RST)?
On an EBIT basis the return on assets of Road Studio Spólka Akcyjna is −14.9% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Road Studio Spólka Akcyjna (RST)?
The operating margin of Road Studio Spólka Akcyjna is 61.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Road Studio Spólka Akcyjna (RST)?
Revenue at Road Studio Spólka Akcyjna is growing −34.9% versus a year earlier (3y avg +90.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Road Studio Spólka Akcyjna (RST) generate?
The free cash flow of Road Studio Spólka Akcyjna is −4.1K PLN (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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