btlines

PLW GPW sWIG80 Periodic report · PAP Biznes

PlayWay SA (PLW) · Q1 2026 results and valuation

Share price: 246.00 zł · 2026-11-10

Results Q1 2026 vs Q1 2025 · year over year · published 29 May 2026 and 30 May 2025

Net income up 17.3% year on year. The report's language is unchanged.

Only a basic analysis is available for this company at the moment.

1 · Numbers

+17.3%

Net income vs Q1 2025

Net income 43.9M vs 37.4M

Revenue +5.5%

Why Net income rose mainly due to different rules for accounting the amortization of intangible assets compared to the historical model of accounting for inventory production costs.

2 · How the report reads

Unchanged

Language tone vs last period

Report language: restrained for a company report — about as upbeat as in Q1 2025.

Weak signal: formal report language, not a call.

3 · What stood out

Fading

The profit share from game sales for the dominant unit 465 decreased compared to the previous quarter as PlayWay S.A. and Gameparic segments were…

Valuation

Is PlayWay SA undervalued?

Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.

At 5.0% growth a year (3-year revenue growth), the model's fair value is 252.62 zł a share — the stock trades 3% below it. Today's price assumes 4.7% growth a year.

Current price

246.00 zł

close of 2026-11-10

Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.

+4.7% for 10 yrs

Fair value / share

252.62 zł

Buy below

189.47 zł

Price vs fair value

Undervalued 3%

Price vs buy-below price

Overvalued 30%

Official channels

The company's own website and social media accounts.

Read between the lines

No major shifts flagged this period.

Tone

How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q1 2026. Ring: Q1 2025.

Report language Restrained (was restrained)

Restrained for a company report — about as upbeat as in Q1 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Full figures

PLN · PAP Biznes report (2026-05-29)

Metric Q1 2026 Q1 2025 Change
Revenue 72.3M 68.6M +5.5%
EBITDA 51.2M 43.7M +17.2%
Operating income 42.3M 43.3M −2.2%
Net income 43.9M 37.4M +17.3%
EPS 5.35 4.73 +13.1%
P/E today 22.4 23.2 12.5 +10.7

Topics

Topics are drawn from the full report text, not management commentary.

Most discussed now

  • Fading Due to the change in accounting rules made in the annual financial statement for the financial year ended 31 December 2025.
  • The Issuer continues and supervises production work on a new edition of the computer game titled.
  • During the presented interim period, no significant transactions involving the acquisition and sale of tangible fixed assets occurred.

Faded since Q1 2025

  • Fading Based on the sales plans and the interest of the Group's clients in individual titles
  • Fading The issuer also acquired all game materials and holds exclusive rights to create subsequent DLCs or game sequels.
  • Fading The above actions allow for an assessment of whether the achievable net value is higher than the incurred production costs.

Latest announcements

Official filings, newest first.

Similar companies

Communication Services · Electronic Gaming & Multimedia
All Communication Services companies →