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T-Bull S.A (TBL) Fair Value & Analysis

Communication Services · PL · Market cap 2.9M PLN

TB T-Bull S.A TBL · WAR
Price2.42 PLN
Fair Value9.19 PLN
Upside+279.8%
Quality92/100
Evidence: Low Range 6.89 PLN – 11.49 PLN

Fair value as of: Jun 24, 2026

From 2 valuation models · updated 5 days ago

Share price −16.5% over the past month.

Price vs Fair Value (12 months)

5.34 PLN 2.40 PLN Fair Value 9.19 PLN Jun 2025 Jun 2026

12‑month range 2.40 PLN – 5.34 PLN · fair‑value band 6.89 PLN – 11.49 PLN · the 2.42 PLN price screens below the 9.19 PLN fair value. As of Jun 24, 2026.

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Analysis

T-Bull S.A (TBL) currently trades at 2.42 PLN, while our model-based Fair Value estimate is 9.19 PLN — implying the stock looks roughly 279.8% undervalued today. We read business quality at 92/100 (high quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low) — always confirm before acting.

Over the trailing twelve months, T-Bull S.A generated revenue of 3.8M PLN at a net margin of -66.5%. Revenue declined 42.2% year over year. It earns a return on equity of -72.0%. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) 3.8M PLN
Revenue growth (YoY) -42.2%
Net margin -66.5%
Return on equity -72.0%
Free cash flow −616K PLN FY2024
Operating margin -4.4%
More key figures
EPS (TTM) -2.10 PLN
EPS growth (YoY) -78.3%
Net cash 322K PLN FY2024

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

About the company

T-Bull S.A. engages in the production and distribution of games for mobile and stationary devices in Poland. The company's games include Moto Rider GO, Top Speed, Bike Clash, Racing Xtreme 2, and Drive Stars: Sports Car Racing. It also operates in the area of PC and console games. T-Bull S.A. was incorporated in 2015 and is headquartered in Wroclaw, Poland.

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

T-Bull S.A reported revenue of 5.6M PLN in FY2024 versus 7.0M PLN in FY2020, a compound −5.4%/yr. Reported net income was −2.8M PLN in FY2024.

Revenue −5.4%/yr
FY20 7.0M PLN
FY21 9.0M PLN
FY22 8.2M PLN
FY23 7.0M PLN
FY24 5.6M PLN
Net income
FY20 1.8M PLN
FY21 −22.1M PLN
FY22 −7.6M PLN
FY23 −3.7M PLN
FY24 −2.8M PLN

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6 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Jun 24, 2026).

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NetEase, Inc NTES $125.82 $153.10 +22%
Nintendo Co NTDOY $11.18 $15.81 +41%
Electronic Arts Inc EA $202.97 $77.82 -62%
Take-Two Interactive Software, Inc TTWO $214.39 $102.48 -52%
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Frequently asked questions

Is T-Bull S.A (TBL) undervalued?
As of Jun 24, 2026, our model estimates a fair value of 9.19 PLN versus a price of 2.42 PLN — about +280% (undervalued). Model-based estimate, not financial advice.
What is the fair value of TBL?
Our 21-model fair value for T-Bull S.A is 9.19 PLN (as of Jun 24, 2026), built from audited fundamentals. The current price is 2.42 PLN.
What is the quality score of TBL?
T-Bull S.A has a Quality Score of 92/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of T-Bull S.A (TBL)?
T-Bull S.A reported trailing-twelve-month revenue of about 3.8M PLN (latest available figure, as of Jun 24, 2026).
What is the net profit margin of TBL?
The net profit margin of T-Bull S.A is about -66.5%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.