VARSAV Game Studios S.A. (WSE:VAR)

Poland · Delayed Price · Currency is PLN

0.7450

-0.0250 (-3.25%)

Last updated: Oct 22, 2026, 4:38 PM CEST

VARSAV Game Studios Ratios and Metrics

Market cap in millions PLN. Fiscal year is January - December.

Millions PLN. Fiscal year is Jan - Dec.

Total Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 22, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	19	9	9	13	11	22
Market Cap Growth	64.82%	-9.57%	-25.85%	11.54%	-48.93%	-40.11%
Enterprise Value	18	8	9	11	10	15
Last Close Price	0.74	0.38	0.42	0.64	0.57	1.12

Price Ratios

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 22, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	-	-	19.60	-	-	-
PS Ratio	9.25	5.14	6.37	-	11.33	26.04
PB Ratio	1.73	0.84	1.09	1.33	1.64	2.36
P/TBV Ratio	1.73	0.84	1.09	1.33	1.64	2.36

EV Ratios

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 22, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
EV/Sales Ratio	8.89	4.69	6.27	-	9.87	17.81
EV/EBITDA Ratio	15.94	9.52	14.47	-	8.37	-
EV/EBIT Ratio	17.02	10.10	14.48	-	8.46	-

Financial Efficiency

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 22, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Debt / Equity Ratio	0.00	0.13	0.15	0.20	0.17	0.03
Debt / EBITDA Ratio	0.02	1.57	2.02	-	0.99	-
Net Debt / Equity Ratio	-0.07	0.04	-0.02	0.06	-0.03	-0.58
Net Debt / EBITDA Ratio	-0.64	0.49	-0.28	-	-0.15	11.92
Net Debt / FCF Ratio	0.21	-0.09	0.54	-0.25	0.08	1.60
Asset Turnover	0.11	0.09	0.10	-	0.08	0.07
Quick Ratio	0.29	0.44	0.31	0.73	0.69	1.93
Current Ratio	2.10	2.09	1.42	3.06	4.20	4.07
Return on Equity (ROE)	-9.26%	-13.46%	5.28%	-	-30.26%	-17.63%
Return on Assets (ROA)	3.49%	2.73%	2.62%	-	6.09%	-2.61%
Return on Invested Capital (ROIC)	10.44%	8.11%	3.42%	-	21.83%	-14.23%
Return on Capital Employed (ROCE)	7.20%	5.60%	6.50%	-	14.10%	-5.30%

Yields

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 22, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Earnings Yield	-4.91%	-14.82%	5.10%	-	-21.80%	-8.29%
FCF Yield	-18.68%	-50.51%	-3.54%	-18.27%	-20.66%	-15.40%
Buyback Yield / Dilution	-10.39%	-10.39%	-13.17%	-	-	-