Games Workshop Group (GMWKF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Games Workshop Group $273, price $230, upside +18.5%, quality 91 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Games Workshop Group
GMWKF · USUndervalued, solidQuality growthFair Value upside is positive and quality is strong.
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Price vs Fair Value
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 $3.63 – $295.00 · fair‑value band $190.06 – $420.46 · the $230.00 price screens below the $272.53 fair value. Dashed = 300-day average. As of Sep 23, 2026.
Company profile
Games Workshop Group PLC, together with its subsidiaries, engages in the design, manufacture, distribution, and sale of fantasy miniature figures and games in the United Kingdom, Continental Europe, North America, Australia, New Zealand, Asia, and internationally. It operates in two segments, Core and Licensing.
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Games Workshop Group PLC, together with its subsidiaries, engages in the design, manufacture, distribution, and sale of fantasy miniature figures and games in the United Kingdom, Continental Europe, North America, Australia, New Zealand, Asia, and internationally. It operates in two segments, Core and Licensing. The company offers games under the Warhammer 40,000, Warhammer: The Horus Heresy, Warhammer: The Old World, Warhammer: Age of Sigmar, Necromunda, Blood Bowl, and the Lord of the Rings brand names. It also publishes short stories, audio dramas, full length novels, and audio books under the Black Library name; and produces motion picture, video, and television programs. In addition, the company provides merchandise, apparel, video games accessories, display art, and action figures; and design, produces, and sells various books and accessories, as well as plastic and resin kits, and painting guides. Further, it grants licenses to third parties for the development of video games, PC games, media and other products; and engages in the magazine newsstand and trustee businesses. It offers its products through its retail stores, independent retailers, and web stores. The company was incorporated in 1991 and is headquartered in Nottingham, the United Kingdom.
Stock analysis
Games Workshop Group (GMWKF) currently trades at $230.00, while our model-based Fair Value estimate is $272.53, implying the stock looks roughly 15.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $174.82 per share, and 1 of the 26 models we run sit above the $230.00 price.
Bear case: the Multiples group reads lowest at $45.01, and 25 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $190.06 (bear) to $420.46 (bull), the price of $230.00 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 91/100 (high quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Games Workshop Group reported revenue of £618M in FY2025 versus £353M in FY2021, a compound +15.0%/yr. Reported net income was £196M in FY2025, compounding +12.6%/yr from FY2021.
Key figures
Market cap $9.0B · P/E ratio 27.4 · P/S ratio 8.71 · EPS (TTM) $8.39 · Dividend yield 2.4% · Net margin 31.8% · Return on equity 67.9% · Return on assets (EBIT) 56.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (medium confidence).
What moves the price
The share trades about 22% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 39% fair-value upside, at 18%, GMWKF screens richer than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 88 · Market factors (momentum, volatility) 46
Revenue & earnings trend
Growth Forecast
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Compare Games Workshop Group with another stock
Price, fair value, quality and upside side by side.
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.Leisure · 175 stocks
Valuation Multiplesvs Leisure median · lower = cheaper
Context: sector, industry, market
- Is the Consumer Discretionary sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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Key figures of Games Workshop Group
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