Games Workshop (GAW) AI Stock Analysis

• Market Cap: £4.91B
• Dividend Yield: 3.76%
• Average Volume (3M): 62.20K
• Price to Earnings (P/E): 25.0
• Beta (1Y): 1.13
• Revenue Growth: 17.46%
• EPS Growth: 29.67%
• Country: UK
• Employees: 2,950
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): 3.06
• Shares Outstanding: 32,972,137
• 10 Day Avg. Volume: 85,595
• 30 Day Avg. Volume: 62,201
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: £15,248.00
• Price Target Upside: 2.47% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 73 Outperform
• Price Target: 17,394.00p ▲(16.90% Upside)

Games Workshop's strong financial performance is the most significant factor, showcasing robust growth and stability. Technical analysis indicates some short-term weakness, while valuation metrics suggest a fair market price with an attractive dividend yield.

Positive Factors

Revenue Growth

Consistent revenue growth indicates the company's ability to expand its market presence and maintain demand for its products, supporting long-term business sustainability.

Cash Flow Generation

Strong cash flow generation allows the company to reinvest in growth opportunities, ensuring financial flexibility and supporting future expansion.

Profit Margins

High profit margins reflect efficient operations and cost management, providing a competitive edge and enhancing the company's ability to withstand market fluctuations.

Negative Factors

Market Volatility

While not directly impacting fundamentals, market volatility can affect investor sentiment and may lead to cautious spending or investment by the company.

Lack of Recent Corporate Events

The absence of recent corporate events or strategic initiatives may suggest a period of stagnation, potentially impacting growth momentum and market interest.

Industry Competition

Intense competition in the tabletop gaming industry could pressure market share and profitability, requiring continuous innovation and marketing efforts to maintain leadership.

Games Workshop Business Overview & Revenue Model

Company Description

Games Workshop (GAW) is a globally recognized British company that specializes in the design, manufacture, and sale of miniature wargames and associated products. Founded in 1975, GAW operates in the tabletop gaming sector, primarily known for its flagship franchises, Warhammer 40,000 and Warhammer Age of Sigmar. The company produces a wide range of miniatures, rulebooks, and gaming accessories, along with operating retail stores and an online platform for direct sales and community engagement.

How the Company Makes Money

Games Workshop generates revenue through multiple streams, primarily from the sale of its miniature figures, gaming rulebooks, and related hobby supplies. The company operates a retail model that includes both physical stores and a robust online presence, allowing it to reach a global customer base. Key revenue streams include direct sales of products through its own stores and website, as well as distribution to third-party retailers. Additionally, GAW benefits from a subscription-based service known as Warhammer Plus, offering exclusive content and resources for its community. The company further engages in events and tournaments, which enhance community involvement and drive sales. GAW's strong brand loyalty, coupled with a vibrant community of players and hobbyists, contributes significantly to its earnings, ensuring a consistent demand for new releases and expansions in its IPs.

Games Workshop Financial Statement Overview

Summary

Games Workshop demonstrates strong financial health with consistent revenue and profit growth, efficient operations, and a solid balance sheet with low leverage. Cash flow generation is robust, supporting future growth and stability.

Income Statement

Games Workshop has demonstrated strong revenue growth with a 6.93% increase in the latest year, building on consistent growth over the past few years. The company maintains high profitability with a gross profit margin of 72.06% and a net profit margin of 31.76%. EBIT and EBITDA margins are also robust at 42.79% and 49.89%, respectively, indicating efficient operations and cost management.

Balance Sheet

The balance sheet reflects a solid financial position with a low debt-to-equity ratio of 0.16, suggesting prudent financial leverage. Return on equity is impressive at 69.84%, indicating effective use of shareholder funds. The equity ratio is healthy, supporting the company's stability and growth potential.

Cash Flow

Cash flow analysis shows strong operational cash generation with an operating cash flow to net income ratio of 3.89. Free cash flow has grown by 15.95%, and the free cash flow to net income ratio is 0.83, highlighting the company's ability to generate cash and reinvest in growth opportunities.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	318.00M	617.50M	525.70M	470.80M	414.80M	369.50M
Gross Profit	234.20M	445.00M	374.50M	319.80M	282.70M	269.30M
EBITDA	159.10M	308.10M	243.30M	211.00M	169.90M	178.10M
Net Income	100.90M	196.10M	151.10M	134.70M	128.40M	122.00M
Balance Sheet
Total Assets	383.00M	383.00M	351.30M	326.80M	321.10M	281.70M
Cash, Cash Equivalents and Short-Term Investments	132.60M	132.60M	107.60M	90.20M	71.40M	85.20M
Total Debt	45.20M	45.20M	47.20M	49.90M	48.90M	47.00M
Total Liabilities	102.20M	102.20M	99.90M	91.70M	86.40M	85.40M
Stockholders Equity	280.80M	280.80M	251.40M	235.10M	234.70M	196.30M
Cash Flow
Free Cash Flow	132.20M	206.50M	163.60M	165.60M	89.40M	102.90M
Operating Cash Flow	143.70M	247.40M	196.20M	193.90M	121.70M	132.90M
Investing Cash Flow	-19.70M	-38.00M	-30.10M	-28.30M	-32.30M	-30.00M
Financing Cash Flow	-116.00M	-183.30M	-148.50M	-146.60M	-103.60M	-70.00M

Games Workshop Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 14880.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GAW, the sentiment is Neutral. The current price of 14880 is below the 20-day moving average (MA) of 15144.25, below the 50-day MA of 15541.24, and above the 200-day MA of 14706.27, indicating a neutral trend. The MACD of -232.46 indicates Positive momentum. The RSI at 41.38 is Neutral, neither overbought nor oversold. The STOCH value of 37.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:GAW.

Games Workshop Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GAW	73 Outperform	£4.91B	24.96	73.69%	3.76%	17.46%	29.67%
BOWL	73 Outperform	421.39M	15.18	19.65%	4.82%	7.46%	-18.88%
GYM	70 Neutral	265.78M	35.40	3.34%	―	8.74%	0.00%
CCT	67 Neutral	51.64M	9.76	12.82%	4.86%	-2.86%	4.50%
FSTA	64 Neutral	301.78M	11.71	6.61%	3.55%	4.79%	223.72%
TUNE	55 Neutral	123.11M	62.31	2.25%	3.14%	-3.88%	-83.28%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Games Workshop Corporate Events

Games Workshop Executives Increase Shareholdings

Games Workshop Group PLC announced that its CEO, Kevin Rountree, and Group Finance Director, Liz Harrison, have acquired additional shares in the company as part of their Annual Bonus Award. Rountree purchased 2,345 shares, increasing his stake to 0.07% of the company’s share capital, while Harrison acquired 475 shares, raising her interest to 0.01%. These transactions highlight the executives’ ongoing commitment and confidence in the company’s future performance, potentially reinforcing stakeholder trust and positively impacting market perception.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Announces Total Voting Rights Update

Games Workshop Group PLC announced that as of August 1, 2025, it has 32,971,810 issued ordinary shares, each carrying one vote at general meetings. This information is crucial for shareholders and others with notification obligations to determine their interests in the company under the Disclosure and Transparency Rules.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Increases Dividend Amid Strong Financial Performance

Games Workshop Group PLC has announced a dividend of 55 pence per share, bringing the total dividends declared for the 2025/26 financial year to £1.40 per share, compared to £1.00 in the previous year. This decision aligns with the company’s established dividend policy and reflects its commitment to returning value to shareholders, potentially enhancing investor confidence and market positioning.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Announces Directorate Change

Games Workshop announced a forthcoming change in its board of directors as Kate Marsh, a Non-Executive Director, will not stand for re-election at the 2026 AGM to focus on her trustee and chair roles. This planned transition is set to ensure an orderly handover, with further updates to follow, reflecting the company’s commitment to maintaining stability in its governance structure.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Grants Share Award to CEO Under 2025 Plan

Games Workshop has granted a restricted share award to its CEO, Kevin Rountree, under the 2025 Share Awards Plan. This award involves 14,178 ordinary shares at a nominal value of 5 pence per share, with a vesting date set for December 31, 2027. This move is part of the company’s strategy to align executive incentives with shareholder interests, potentially impacting the company’s leadership stability and market confidence.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Updates on Total Voting Rights

Games Workshop Group PLC announced that as of July 2, 2025, the company has 32,971,750 issued ordinary shares, each carrying one vote at general meetings. This information is crucial for shareholders and others with notification obligations under the Disclosure and Transparency Rules to determine their interest in the company.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Announces 85p Dividend for 2025/26

Games Workshop Group PLC has announced a dividend of 85 pence per share for the fiscal year 2025/26, marking a significant return to shareholder payouts after no dividends were declared in 2024/25. This decision aligns with the company’s dividend policy and reflects its strong financial performance, potentially enhancing investor confidence and impacting its market position positively.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Announces Total Voting Rights Update

Games Workshop Group PLC announced that as of June 2, 2025, it has 32,971,750 issued ordinary shares, each carrying one vote at general meetings. This information is crucial for shareholders and others with notification obligations to determine their interest in the company under the Disclosure and Transparency Rules.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Appoints New Group Operations Director

Games Workshop has announced the appointment of Neil Tomlinson as Group Operations Director. Tomlinson, who joined the company in 2018 and has held various management roles, brings experience from previous positions at J Sainsbury’s and ASDA Walmart. This appointment is expected to strengthen the company’s operational capabilities.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Reports Strong Financial Performance with Record Licensing Revenue

Games Workshop has reported strong financial performance for the year ending June 2025, with core revenue expected to exceed £560 million and licensing revenue reaching a record £50 million. Despite the record licensing revenue, the company does not anticipate similar results in the next fiscal year, highlighting the importance of this revenue stream. The company has also recognized staff contributions through profit-sharing payments and increased dividends, reflecting its commitment to rewarding employees and shareholders.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.

Games Workshop Shareholders Approve Key Resolutions Amidst Mixed Support

Games Workshop Group PLC announced that during their recent General Meeting, shareholders approved two key resolutions: the remuneration policy and the 2025 Share Awards Plan. Despite some opposition, with over 20% of votes against, the Board acknowledged the majority support and emphasized ongoing engagement with shareholders regarding remuneration practices.

The most recent analyst rating on (GB:GAW) stock is a Buy with a £11850.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.