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Gaming Factory S.A. (GIF) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Gaming Factory S.A. PLN 6.83, price PLN 4.08, upside +67.6%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Communication Services · PL · ISIN PLGMNGF00017

GF Some data Sep 23, 2026

Gaming Factory S.A.

GIF · WAR

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value 6.83 PLN · Strongly undervalued (+68%)
✓Quality 72/100
!Expensive Growth (revenue 5y +40.9 %/yr)
✓Highly profitable · 20.3% net margin (TTM)
!negative free cash flow
✓Ranks above peers (10/10)
✓Wide moat 74/100
!Evidence only medium, so the estimate is less certain

What runs behind every stock

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

Price vs Fair Value

15.20 PLN 4.08 PLN Fair Value 6.83 PLN Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range 4.08 PLN – 15.20 PLN · fair‑value band 5.15 PLN – 8.52 PLN · the 4.08 PLN price screens below the 6.83 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Gaming Factory S.A. develops, publishes, and distributes computer games worldwide. It offers games for PC, PlayStation, Xbox, and Nintendo Switch platforms. The company was founded in 2017 and is based in Warsaw, Poland.

Stock analysis

Gaming Factory S.A. (GIF) currently trades at 4.08 PLN, while our model-based Fair Value estimate is 6.83 PLN, implying the stock looks roughly 40.3% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 16.99 PLN per share, and 13 of the 15 models we run sit above the 4.08 PLN price.

Bear case: the Asset-Based group reads lowest at 1.75 PLN, and 2 of the 15 models stay below the price. Evidence for this calculation is medium.

Scenario range: 5.15 PLN (bear) to 8.52 PLN (bull), the price of 4.08 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 72/100 (solid quality), in the Communication Services sector.

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

Gaming Factory S.A. reported revenue of 15.9M PLN in FY2025 versus 1.3M PLN in FY2021, a compound +86.0%/yr. Reported net income was 2.2M PLN in FY2025.

Key figures

Market cap 27.3M PLN (≈ $7.1M) · P/S ratio 1.44 · EPS (TTM) −0.8900 PLN · Net margin 14.0% · Return on equity 25.4% · Return on assets (EBIT) −8.5% · Operating margin 27.2% · Revenue (TTM) 19.0M PLN.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 52% below its 52-week high and at 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 68%, GIF screens cheaper than that median.

Fair Value models

Bear 5.15 PLN Fair Value 6.83 PLN Bull 8.52 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. 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.
Highest evidence
EPV 3.66 PLN 4.20 PLN 4.67 PLN 70
ROIC Compounder 4.70 PLN 6.67 PLN 8.17 PLN 68
Owner Earnings 2.69 PLN 5.70 PLN 11.80 PLN 66
All 15 models by family
DCF Models
Owner Earnings 2.69 PLN 5.70 PLN 11.80 PLN 66
Earnings-Based
Graham-Dodd 2.49 PLN 17.34 PLN 24.33 PLN 61
Lynch FV 8.96 PLN 12.80 PLN 16.63 PLN 59
PEG = 1.0 8.96 PLN 12.80 PLN 16.63 PLN 55
EPV 3.66 PLN 4.20 PLN 4.67 PLN 70
Multiples
P/E Multiple 6.03 PLN 8.04 PLN 10.05 PLN 63
P/S Multiple 4.66 PLN 6.22 PLN 7.77 PLN 58
P/B Multiple 4.66 PLN 6.22 PLN 7.77 PLN 55
EV/EBIT 5.26 PLN 6.95 PLN 8.63 PLN 63
EV/EBITDA 10.42 PLN 13.82 PLN 17.22 PLN 64
EV/Revenue 4.04 PLN 5.69 PLN 7.33 PLN 51
Asset-Based
NCAV (Graham) 1.31 PLN 1.75 PLN 2.61 PLN 51
Economic Profit
Residual Income 2.51 PLN 3.15 PLN 7.82 PLN 61
ROIC Compounder 4.70 PLN 6.67 PLN 8.17 PLN 68
Growth Earnings
Growth-Adj P/E 11.89 PLN 16.99 PLN 22.08 PLN 65

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Quality Score breakdown

Overall quality 72/100

Of which business quality 68 · Market factors (momentum, volatility) 26

Profitability 54
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 66
Share count: buybacks or dilution?

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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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+375.8%
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.
+84.7%
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.
+40.9%
Start year 2020 (pandemic)
Revenue growth 7 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.
+157.9%
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.
−19.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−19.1%
Dividend (yield on the price)0.0%
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.49% → 16%

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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 · 149 stocks

Beats the industry median on 10/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 72 · Top 25%
Fair Value upside +66% · Above median
Profitability
Return on equity (TTM) 25% · Top 25%
Return on assets 12% · Top 25%
Net margin (TTM) 20% · Top 25%
Operating margin (TTM) 27% · Top 25%
Growth and dividend
Revenue growth 298% · Top 25%

Valuation Multiplesvs Electronic Gaming & Multimedia median · lower = cheaper

P/B 0.45× · Cheaper than median
P/S (TTM) 0.38× · Cheapest 25%
EV/EBITDA 1.1× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 47
FUTURE (revenue growth)100 · sector 7
PAST (return on equity)100 · sector 18
HEALTH (low debt)0 · sector 99
DIVIDEND (yield)0 · sector 52

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
Konami Group KNM £210.55 £65.48 −69%
NetEase, Inc NTES $118.76 $254.19 +114%
Take-Two Interactive Software, Inc TTWO $205.53 $75.97 −63%
Roblox Corporation RBLX $49.87 $46.00 −8%
Zhejiang Century Huatong Group 002602 ¥14.62 ¥27.63 +89%
KRAFTON, Inc 259960 198,000 KRW 395,557 KRW +100%
Giant Network Group 002558 ¥24.33 ¥31.97 +31%
International Games System Co 3293 729.00 TWD 1,094 TWD +50%
CD Projekt S.A CDR 249.30 PLN 274.23 PLN +10%
37 Interactive Entertainment Network Technology Group 002555 ¥17.83 ¥38.44 +116%

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Cite: Fair Value Calculator (2026). "Gaming Factory S.A. Fair Value". https://www.fairvalue-calculator.com/stock/GIF

Frequently asked questions

Is Gaming Factory S.A. (GIF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 6.83 PLN versus a price of 4.08 PLN, about +68% upside (undervalued).
What is the fair value of GIF?
Our model-based fair value for Gaming Factory S.A. is 6.83 PLN (as of Sep 23, 2026), built from audited fundamentals. The current price: 4.08 PLN.
What is the quality score of GIF?
Gaming Factory S.A. has a Quality Score of 72/100. 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 Gaming Factory S.A. (GIF)?
Our model-based price target is the fair value of 6.83 PLN (as of Sep 23, 2026) from 15 valuation models. Cautious scenario 5.15 PLN, optimistic scenario 8.52 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Gaming Factory S.A. stock forecast for 2026?
Our models put fair value at 6.83 PLN, about +68% upside versus a price of 4.08 PLN (undervalued). Cautious scenario 5.15 PLN, optimistic scenario 8.52 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Gaming Factory S.A. (GIF)?
Gaming Factory S.A. reported trailing-twelve-month revenue of about 19.0M PLN (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Gaming Factory S.A. (GIF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gaming Factory S.A. it is 6.83 PLN per share (as of Sep 23, 2026), against a price of 4.08 PLN. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Gaming Factory S.A. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, GIF trades below its calculated fair value: price 4.08 PLN, fair value 6.83 PLN, a gap of about +68% (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 GIF?
No. The price is what the market pays today (4.08 PLN); the fair value is what the company's own numbers justify (6.83 PLN). For Gaming Factory S.A. the two are 2.76 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Gaming Factory S.A. worth?
The market values Gaming Factory S.A. at about 27.3M PLN (market capitalisation, as of Sep 23, 2026). Per share that is 4.08 PLN; our models calculate a fair value of 6.83 PLN per share.
What do the bullish and bearish scenarios say about GIF?
Our models span a range for Gaming Factory S.A.: cautious scenario 5.15 PLN, base 6.83 PLN, optimistic 8.52 PLN per share (as of Sep 23, 2026, price 4.08 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Gaming Factory S.A. (GIF)?
Balance-sheet figures for Gaming Factory S.A. (as of Sep 23, 2026): return on equity 25.4%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is GIF from its 52-week high?
Gaming Factory S.A. trades at 4.08 PLN, about 52% below its 52-week high of 8.50 PLN and at the low of 4.08 PLN (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 6.83 PLN is for.
Which stocks are comparable to Gaming Factory 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 Gaming Factory S.A. stock attractive at the current price?
The data as of Sep 23, 2026: price 4.08 PLN, calculated fair value 6.83 PLN (+68%), Quality Score 72/100, from 15 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 GIF calculated?
We run Gaming Factory S.A. through 15 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 6.83 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 13.2 % above its aggregate fair value. Gaming Factory S.A. currently trades 68 % 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 Gaming Factory S.A. (GIF)?
The closing price on Sep 24, 2026 was 4.08 PLN. Our model-based fair value is 6.83 PLN, about +68% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gaming Factory S.A. right now?
The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (5.15 PLN). The market is more pessimistic than our downside scenario.

Key figures of Gaming Factory S.A.

How large is the market capitalisation of Gaming Factory S.A. (GIF)?
The market capitalisation of Gaming Factory S.A. is 27.3M PLN (≈ $7.1M). 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 Gaming Factory S.A. (GIF)?
The price-to-sales ratio of Gaming Factory S.A. is 1.44 (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 Gaming Factory S.A. (GIF)?
Earnings per share at Gaming Factory S.A. are −0.8900 PLN. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Gaming Factory S.A. (GIF)?
The net margin of Gaming Factory S.A. is 14.0% (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 Gaming Factory S.A. (GIF)?
The return on equity (ROE) of Gaming Factory S.A. is 25.4% (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 Gaming Factory S.A. (GIF)?
On an EBIT basis the return on assets of Gaming Factory S.A. is −8.5% (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 Gaming Factory S.A. (GIF)?
The operating margin of Gaming Factory S.A. is 27.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gaming Factory S.A. (GIF)?
Revenue at Gaming Factory S.A. is growing +298% versus a year earlier (3y avg +84.7%). 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 Gaming Factory S.A. (GIF)?
Earnings per share at Gaming Factory S.A. are growing +500% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Gaming Factory S.A. (GIF) generate?
The free cash flow of Gaming Factory S.A. is −1.3M PLN (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Gaming Factory S.A. (GIF) hold?
Gaming Factory S.A. holds more cash than debt, 582K PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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