11 bit studios S.A (11B) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of 11 bit studios S.A PLN 129, price PLN 118, upside +9.4%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch 11 bit studios S.A for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 117.40 PLN – 740.00 PLN · fair‑value band 90.40 PLN – 167.89 PLN · the 118.00 PLN price screens below the 129.14 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
Follow 11 bit studios in your weekly email
Every Wednesday you see whether 11 bit studios is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
11 bit studios S.A. engages in the production of multiplatform video games worldwide. It also publishes games created by external developers. The company was incorporated in 2009 and is headquartered in Warsaw, Poland.
Stock analysis
11 bit studios S.A (11B) currently trades at 118.00 PLN, while our model-based Fair Value estimate is 129.14 PLN, implying the stock looks roughly 8.6% fairly valued today.
Show more
Valuation
Bull case: the Growth DCF group reads highest at a median of 200.29 PLN per share, and 14 of the 24 models we run sit above the 118.00 PLN price.
Bear case: the Economic Profit group reads lowest at 58.93 PLN, and 10 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 90.40 PLN (bear) to 167.89 PLN (bull), the price of 118.00 PLN sits inside 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 59/100 (solid quality), in the Communication Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
11 bit studios S.A reported revenue of 141M PLN in FY2025 versus 70.1M PLN in FY2021, a compound +19.1%/yr. Reported net income was 6.9M PLN in FY2025, compounding −29.9%/yr from FY2021.
Key figures
Market cap 320M PLN (≈ $83.2M) · P/E ratio 27.1 · P/S ratio 1.33 · EPS (TTM) 4.36 PLN · Net margin 4.9% · Return on equity 4.6% · Return on assets (EBIT) 7.0% · Operating margin −27.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 50% fair-value upside, at 9%, 11B screens richer than that median.
Fair Value models
Bear 90.40 PLNFair Value 129.14 PLNBull 167.89 PLN
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (3.20 PLN per share) are deliberately not added.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.Evidence ⓘEvidence = 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.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+0.3%
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.
+23.9%
Revenue growth 5 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.
+10.1%
Start year 2020 (pandemic). Over 10 years: +19.8% a year
Revenue growth 15 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.
+46.2%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−24.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−24.8%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−25% vs −6%, slowing
Profit margin 2020 to 2025 ⓘ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.47% → 15%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+1.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−5.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (Poland: IMF forecast 3.1% a year to 2030, 4.6% from 2016 to 2025) that is about −1.4% a year for the price and −7.9% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
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 · 149 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "11 bit studios S.A Fair Value". https://www.fairvalue-calculator.com/stock/11B
Frequently asked questions
Is 11 bit studios S.A (11B) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 129.14 PLN versus a price of 118.00 PLN, about +9% upside (fairly valued).
What is the fair value of 11B?
Our model-based fair value for 11 bit studios S.A is 129.14 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 118.00 PLN.
What is the quality score of 11B?
11 bit studios S.A has a Quality Score of 59/100. 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 11 bit studios S.A (11B)?
Our model-based price target is the fair value of 129.14 PLN (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 90.40 PLN, optimistic scenario 167.89 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the 11 bit studios S.A stock forecast for 2026?
Our models put fair value at 129.14 PLN, about +9% upside versus a price of 118.00 PLN (fairly valued). Cautious scenario 90.40 PLN, optimistic scenario 167.89 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of 11 bit studios S.A (11B)?
11 bit studios S.A reported trailing-twelve-month revenue of about 143M PLN (latest available figure, as of Sep 24, 2026).
What growth is priced into 11 bit studios S.A (11B)?
For today's price to be fair in a discounted-cash-flow model, 11 bit studios S.A would have to grow free cash flow by +1.7 % per year for five years (discount rate 13.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 11B use?
Our models discount 11 bit studios S.A at 13.6 %: a base by market capitalisation (micro), country premium for Poland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For 11 bit studios S.A that is +1.7 % per year a year over ten years, using the same discount rate (13.6 %) and the same formula as our fair value.
How much growth has 11 bit studios S.A (11B) delivered so far?
Over the past 5 years revenue at 11 bit studios S.A grew +10.1 % a year. The price currently implies +1.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of 11 bit studios S.A (11B) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into 11 bit studios S.A (+1.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of 11 bit studios S.A (11B)?
The free-cash-flow yield on the price is 8.81 %: that much free cash flow 11 bit studios S.A produces per unit of market value. When it exceeds the discount rate of our models (13.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of 11 bit studios S.A (11B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For 11 bit studios S.A it is 129.14 PLN per share (as of Sep 24, 2026), against a price of 118.00 PLN. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is 11 bit studios S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 11B trades below its calculated fair value: price 118.00 PLN, fair value 129.14 PLN, a gap of about +9% (fairly valued). 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 11B?
No. The price is what the market pays today (118.00 PLN); the fair value is what the company's own numbers justify (129.14 PLN). For 11 bit studios S.A the two are 11.14 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is 11 bit studios S.A worth?
The market values 11 bit studios S.A at about 320M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 118.00 PLN; our models calculate a fair value of 129.14 PLN per share.
What do the bullish and bearish scenarios say about 11B?
Our models span a range for 11 bit studios S.A: cautious scenario 90.40 PLN, base 129.14 PLN, optimistic 167.89 PLN per share (as of Sep 24, 2026, price 118.00 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 11B?
11 bit studios S.A trades at a price-to-earnings ratio of 27.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 129.14 PLN is built from several models across several years. Other multiples: P/B 0.4, P/S 0.6, EV/EBITDA 1.5.
How solid is the balance sheet of 11 bit studios S.A (11B)?
Balance-sheet figures for 11 bit studios S.A (as of Sep 24, 2026): return on equity 4.6%, debt of 0.01 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 11B from its 52-week high?
11 bit studios S.A trades at 118.00 PLN, about 41% below its 52-week high of 199.00 PLN and 1% above the low of 117.40 PLN (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 129.14 PLN is for.
Which stocks are comparable to 11 bit studios S.A?
From the same area (Communication Services) we also value Konami Group, NetEase, Inc, Take-Two Interactive Software, Inc, Roblox Corporation, 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 11 bit studios S.A stock attractive at the current price?
The data as of Sep 24, 2026: price 118.00 PLN, calculated fair value 129.14 PLN (+9%), Quality Score 59/100, from 24 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 11B calculated?
We run 11 bit studios S.A through 24 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 129.14 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 13.0 % above its aggregate fair value. 11 bit studios S.A currently trades 9 % 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 11 bit studios S.A (11B)?
The closing price on Sep 24, 2026 was 118.00 PLN. Our model-based fair value is 129.14 PLN, about +9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with 11 bit studios S.A right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (90.40 PLN to 167.89 PLN) leaves room in how you read the outcome.
Where does the earnings growth of 11 bit studios S.A (11B) come from?
Earnings per share at 11 bit studios S.A grew −12.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +16.6 %, EBIT margin −13.8 %, tax rate −2.1 %, residual (interest, one-offs) −10.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of 11 bit studios S.A
How large is the market capitalisation of 11 bit studios S.A (11B)?
The market capitalisation of 11 bit studios S.A is 320M PLN (≈ $83.2M). 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 11 bit studios S.A (11B)?
The price-to-sales ratio of 11 bit studios S.A is 1.33 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of 11 bit studios S.A (11B)?
Earnings per share at 11 bit studios S.A are 4.36 PLN (price ÷ EPS = P/E 27.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of 11 bit studios S.A (11B)?
The net margin of 11 bit studios S.A is 4.9% (fiscal year 2025). 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 11 bit studios S.A (11B)?
The return on equity (ROE) of 11 bit studios S.A is 4.6% (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 11 bit studios S.A (11B)?
On an EBIT basis the return on assets of 11 bit studios S.A is 7.0% (avg 5y). 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 11 bit studios S.A (11B)?
The operating margin of 11 bit studios S.A is −27.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at 11 bit studios S.A (11B)?
Revenue at 11 bit studios S.A is growing +13.1% versus a year earlier (3y avg +23.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at 11 bit studios S.A (11B)?
Earnings per share at 11 bit studios S.A are growing −71.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does 11 bit studios S.A (11B) hold?
11 bit studios S.A holds more cash than debt, 40.7M PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch 11 bit studios S.A in the live analysis
One click puts 11 bit studios S.A on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
