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Ultimate Games S.A (ULG) Fair Value & Analysis

Communication Services · PL · Market cap 77.4M PLN

UG Ultimate Games S.A ULG · WAR
Price14.30 PLN
Fair Value11.61 PLN
Upside-18.8%
Quality67/100
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Evidence: Medium Range 6.74 PLN – 14.51 PLN

Fair value as of: Jun 24, 2026

From 17 valuation models · updated 10 days ago

Fair value updated Jun 24, 2026 — revised from 6.57 PLN to 11.61 PLN (+76.7%) since Jun 23, 2026. Share price −10.1% over the past month.

Price vs Fair Value (12 months)

16.01 PLN 10.94 PLN Fair Value 11.61 PLN Jun 2025 Jul 2026

12‑month range 10.94 PLN – 16.01 PLN · fair‑value band 6.74 PLN – 14.51 PLN · the 14.30 PLN price screens above the 11.61 PLN fair value. As of Jun 24, 2026.

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Analysis

Ultimate Games S.A (ULG) currently trades at 14.30 PLN, while our model-based Fair Value estimate is 11.61 PLN — implying the stock looks roughly 18.8% overvalued today. We read business quality at 67/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: medium).

Over the trailing twelve months, Ultimate Games S.A generated revenue of 35.8M PLN at a net margin of 18.0%. Revenue grew 79.6% year over year. It earns a return on equity of 22.4%. The balance sheet holds a net cash position of 6.5M PLN. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) 35.8M PLN
Revenue growth (YoY) +79.6%
Net margin 18.0%
Return on equity 22.4%
Free cash flow −1.4M PLN FY2024
P/E ratio 12.2
More key figures
Operating margin 31.2%
EPS (TTM) 1.21 PLN
Dividend yield 3.3%
EPS growth (YoY) +114%
Net cash 6.5M PLN FY2024

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

About the company

Ultimate Games S.A. engages in the production and distribution of games for various platforms internationally. The company offers production and sale of games and applications for mobile platforms with iOS, Android operating systems, PC, Mac computers, Nintendo Switch, Microsoft Xbox and PlayStation. The company also offers mobile applications, advertising, and other services. Ultimate Games S.A. was incorporated in 2017 and is based in Warsaw, Poland.

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Ultimate Games S.A reported revenue of 24.2M PLN in FY2024 versus 14.9M PLN in FY2020, a compound +12.9%/yr. Reported net income was 2.8M PLN in FY2024, compounding −46.1%/yr from FY2020.

Revenue +12.9%/yr
FY20 14.9M PLN
FY21 22.6M PLN
FY22 27.1M PLN
FY23 23.1M PLN
FY24 24.2M PLN
Net income −46.1%/yr
FY20 32.7M PLN
FY21 6.4M PLN
FY22 −7.9M 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 NTDOF $44.39 $60.39 +36%
Electronic Arts Inc EA $203.40 $58.78 -71%
Take-Two Interactive Software, Inc TTWO $239.57 $61.19 -74%
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Frequently asked questions

Is Ultimate Games S.A (ULG) undervalued?
As of Jun 24, 2026, our model estimates a fair value of 11.61 PLN versus a price of 14.30 PLN — about −19% (overvalued). Model-based estimate, not financial advice.
What is the fair value of ULG?
Our model-based fair value for Ultimate Games S.A is 11.61 PLN (as of Jun 24, 2026), built from audited fundamentals. The current price is 14.30 PLN.
What is the quality score of ULG?
Ultimate Games S.A has a Quality Score of 67/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Ultimate Games S.A (ULG)?
Ultimate Games S.A reported trailing-twelve-month revenue of about 35.8M PLN (latest available figure, as of Jun 24, 2026).
What is the net profit margin of ULG?
The net profit margin of Ultimate Games S.A is about 18.0%, meaning it keeps roughly 18.0% of revenue as net income. Based on the latest reported figures.
Does Ultimate Games S.A pay a dividend?
Ultimate Games S.A currently shows a dividend yield of about 3.29% relative to its recent price (as of Jun 24, 2026).

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.