Games Operators SA (GOP) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Games Operators SA PLN 13.86, price PLN 10.95, upside +26.6%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 24, 2026.
How to read this chart
60‑month range 5.24 PLN – 35.94 PLN · fair‑value band 9.63 PLN – 19.22 PLN · the 10.95 PLN price screens below the 13.86 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Games Operators S.A., a publishing company, invests, releases, and promotes video games. The company also engages in the production and sale of games and applications for PCs, Macs, and mobile platforms with iOS and Android operating systems, as well as for gaming consoles such as PlayStation, Xbox, and Nintendo Switch.
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Games Operators S.A., a publishing company, invests, releases, and promotes video games. The company also engages in the production and sale of games and applications for PCs, Macs, and mobile platforms with iOS and Android operating systems, as well as for gaming consoles such as PlayStation, Xbox, and Nintendo Switch. The company was incorporated in 2019 and is based in Warsaw, Poland.
Stock analysis
Games Operators SA (GOP) currently trades at 10.95 PLN, while our model-based Fair Value estimate is 13.86 PLN, implying the stock looks roughly 21.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 27.77 PLN per share, and 21 of the 26 models we run sit above the 10.95 PLN price.
Bear case: the Asset-Based group reads lowest at 3.32 PLN, and 5 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 9.63 PLN (bear) to 19.22 PLN (bull), the price of 10.95 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 63/100 (solid quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Games Operators SA reported revenue of 14.8M PLN in FY2025 versus 10.2M PLN in FY2021, a compound +9.7%/yr. Reported net income was 3.5M PLN in FY2025, compounding +8.8%/yr from FY2021.
Key figures
Market cap 60.2M PLN (≈ $15.7M) · P/E ratio 14.0 · P/S ratio 3.28 · EPS (TTM) 0.7800 PLN · Dividend yield 8.5% · Net margin 23.4% · Return on equity 14.5% · Return on assets (EBIT) 16.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 24% 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 27%, GOP screens richer than that median.
Fair Value models
Bear 9.63 PLNFair Value 13.86 PLNBull 19.22 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 (0.5727 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.92/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−48.8%
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.
+35.2%
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.
+13.2%
Start year 2020 (pandemic)
Revenue growth 8 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.
+41.4%
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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.
+15.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.7%
Dividend (yield on the price)8.5%
Profit margin 2019 to 2024 ⓘ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.81% → 47%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
+12.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Poland: IMF forecast 3.1% a year to 2030, 4.6% from 2016 to 2025) that is about +9.2% a year for the price.
Price, fair value, quality and upside side by side.
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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
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). "Games Operators SA Fair Value". https://www.fairvalue-calculator.com/stock/GOP
Frequently asked questions
Is Games Operators SA (GOP) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 13.86 PLN versus a price of 10.95 PLN, about +27% upside (undervalued).
What is the fair value of GOP?
Our model-based fair value for Games Operators SA is 13.86 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 10.95 PLN.
What is the quality score of GOP?
Games Operators SA has a Quality Score of 63/100. 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 Games Operators SA (GOP)?
Our model-based price target is the fair value of 13.86 PLN (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 9.63 PLN, optimistic scenario 19.22 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Games Operators SA stock forecast for 2026?
Our models put fair value at 13.86 PLN, about +27% upside versus a price of 10.95 PLN (undervalued). Cautious scenario 9.63 PLN, optimistic scenario 19.22 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Games Operators SA (GOP)?
Games Operators SA reported trailing-twelve-month revenue of about 14.9M PLN (latest available figure, as of Sep 24, 2026).
Does Games Operators SA pay a dividend?
Games Operators SA currently shows a dividend yield of about 8.51% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Games Operators SA (GOP)?
For today's price to be fair in a discounted-cash-flow model, Games Operators SA would have to grow free cash flow by +12.6 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of GOP use?
Our models discount Games Operators SA at 10.4 %: a base by market capitalisation (nano), damped by beta 0.90, 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 Games Operators SA that is +12.6 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Games Operators SA (GOP) delivered so far?
Over the past 5 years revenue at Games Operators SA grew +13.2 % a year. The price currently implies +12.6 % 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 Games Operators SA (GOP) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Games Operators SA (+12.6 % 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 Games Operators SA (GOP)?
The free-cash-flow yield on the price is 3.76 %: that much free cash flow Games Operators SA produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Games Operators SA (GOP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Games Operators SA it is 13.86 PLN per share (as of Sep 24, 2026), against a price of 10.95 PLN. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Games Operators SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, GOP trades below its calculated fair value: price 10.95 PLN, fair value 13.86 PLN, a gap of about +27% (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 GOP?
No. The price is what the market pays today (10.95 PLN); the fair value is what the company's own numbers justify (13.86 PLN). For Games Operators SA the two are 2.91 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Games Operators SA worth?
The market values Games Operators SA at about 60.2M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 10.95 PLN; our models calculate a fair value of 13.86 PLN per share.
What do the bullish and bearish scenarios say about GOP?
Our models span a range for Games Operators SA: cautious scenario 9.63 PLN, base 13.86 PLN, optimistic 19.22 PLN per share (as of Sep 24, 2026, price 10.95 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GOP?
Games Operators SA trades at a price-to-earnings ratio of 14.0 (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 13.86 PLN is built from several models across several years. Other multiples: P/B 0.6, P/S 1.1, EV/EBITDA 0.8.
How solid is the balance sheet of Games Operators SA (GOP)?
Balance-sheet figures for Games Operators SA (as of Sep 24, 2026): return on equity 14.5%. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is GOP from its 52-week high?
Games Operators SA trades at 10.95 PLN, about 24% below its 52-week high of 14.47 PLN and 24% above the low of 8.85 PLN (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 13.86 PLN is for.
Which stocks are comparable to Games Operators SA?
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 Games Operators SA stock attractive at the current price?
The data as of Sep 24, 2026: price 10.95 PLN, calculated fair value 13.86 PLN (+27%), Quality Score 63/100, from 26 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 GOP calculated?
We run Games Operators SA through 26 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 13.86 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. Games Operators SA currently trades 27 % 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 Games Operators SA (GOP)?
The closing price on Sep 24, 2026 was 10.95 PLN. Our model-based fair value is 13.86 PLN, about +27% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Games Operators SA right now?
Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (9.63 PLN to 19.22 PLN) leaves room in how you read the outcome.
Key figures of Games Operators SA
How large is the market capitalisation of Games Operators SA (GOP)?
The market capitalisation of Games Operators SA is 60.2M PLN (≈ $15.7M). 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 Games Operators SA (GOP)?
The price-to-sales ratio of Games Operators SA is 3.28 (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 Games Operators SA (GOP)?
Earnings per share at Games Operators SA are 0.7800 PLN (price ÷ EPS = P/E 14.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Games Operators SA (GOP)?
The dividend yield of Games Operators SA is 8.5% (payout 119%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Games Operators SA (GOP)?
The net margin of Games Operators SA is 23.4% (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 Games Operators SA (GOP)?
The return on equity (ROE) of Games Operators SA is 14.5% (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 Games Operators SA (GOP)?
On an EBIT basis the return on assets of Games Operators SA is 16.2% (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 Games Operators SA (GOP)?
The operating margin of Games Operators SA is 54.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Games Operators SA (GOP)?
Revenue at Games Operators SA is growing +1.3% versus a year earlier (3y avg +35.2%). 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 Games Operators SA (GOP)?
Earnings per share at Games Operators SA are growing +101% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Games Operators SA (GOP) hold?
Games Operators SA holds more cash than debt, 11.3M PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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