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CD Projekt (OTGLY) AI Stock Analysis
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CD Projekt
(Other OTC:OTGLY)
The score is primarily supported by excellent financial fundamentals (very high margins, low leverage, healthy returns) and a strongly positive earnings call highlighting growth, liquidity, and a visible multi-year pipeline. Offsetting this, technical indicators show clear bearish momentum, while valuation is less attractive with a high P/E and no dividend yield data.
CD Projekt (OTGLY) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $6.54B
- Dividend Yield
- ―
- Average Volume (3M)
- 11.86K
- Price to Earnings (P/E)
- 41.4
- Beta (1Y)
- 0.94
- Revenue Growth
- -7.51%
- EPS Growth
- 48.36%
- Country
- US
- Employees
- 808
- Sector
- Communication Services
- Sector Strength
- 60
- Industry
- Electronic Gaming & Multimedia
CD Projekt Business Overview & Revenue Model
Company Description
CD Projekt S.A., together with its associated companies, specializes in the global development, publication, and digital delivery of video games for personal computers and console systems. The enterprise is structured around two key divisions: CD PRO...
How the Company Makes Money
CD Projekt makes money mainly by developing and selling video games and by operating a digital distribution storefront. 1) Game development and publishing (CD PROJEKT RED) - Full game sales: Revenue is generated from sales of CD Projekt’s own titles...
CD Projekt Earnings Call Summary
The call was strongly positive overall, supported by 23% revenue growth, 28% gross-profit growth, 37% net-profit growth, 57% net profitability, strong sales and engagement across both franchises, positive Gamescom reception, a substantial release pipeline and nearly PLN 1.3 billion of liquidity. The main negatives were the 6% increase in operating costs, continued high development cash outflows, a PLN 39 million decline in reserves and management's expectation that the second incentive-program target will not be met.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management said Songs of the Past is launching in 2027, The Witcher 4 has a target release window in 2028, and The Witcher 3: Wild Hunt Remastered launches on September 29, 2026, but it is not guiding specifically on the revenue attached to Remastered, future results, licensing revenues for the second half of '26, development-expenditure increases, or specific expansion attachment rates; Hadar is expected to grow from over 30 people to up to 50 developers by the end of this year. The first tranche of incentive program B requires PLN 2 billion in cumulative net profit from continuing operations over 4 years, is 86% complete, and leaves 14% or approximately PLN 273 million over the remaining two quarters; the company will most likely not meet the second-stage 2024, 2027 target of PLN 3 billion, so 70% of the entitlements will most likely not vest, while management remains optimistic about achieving the third and fourth targets of respectively PLN 4 billion and PLN 5 billion in subsequent 4-year periods.
CD Projekt Financial Statement Overview
Summary
Strong overall financial quality driven by exceptionally high profitability (TTM ~98% gross margin, ~72% net margin) and a very conservative balance sheet with minimal leverage and healthy ROE (~18.6% TTM). The key offset is cyclicality: revenues and free cash flow have been volatile across years, and free-cash-flow conversion has been uneven despite generally positive and strong operating cash flow.
Income Statement
86Very PositiveBalance Sheet
90Very PositiveCash Flow
78Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 821.04M | 828.73M | 985.03M | 1.23B | 952.58M | 888.17M |
| Gross Profit | 805.19M | 743.01M | 737.88M | 849.63M | 708.60M | 637.94M |
| EBITDA | 381.02M | 506.14M | 448.49M | 553.33M | 515.06M | 326.63M |
| Net Income | 597.75M | 503.58M | 469.87M | 481.11M | 347.09M | 208.91M |
Balance Sheet | ||||||
| Total Assets | 3.78B | 3.50B | 3.04B | 2.61B | 2.27B | 2.16B |
| Cash, Cash Equivalents and Short-Term Investments | 441.05M | 634.00M | 1.19B | 878.98M | 894.67M | 984.35M |
| Total Debt | 46.06M | 26.00M | 20.15M | 20.04M | 28.46M | 46.88M |
| Total Liabilities | 226.72M | 213.15M | 241.76M | 209.95M | 240.72M | 264.38M |
| Stockholders Equity | 3.56B | 3.29B | 2.80B | 2.40B | 2.03B | 1.89B |
Cash Flow | ||||||
| Free Cash Flow | 213.69M | 514.65M | 173.84M | 280.07M | 149.93M | 784.46M |
| Operating Cash Flow | 436.78M | 609.77M | 521.30M | 610.88M | 406.03M | 967.83M |
| Investing Cash Flow | -508.75M | -499.21M | -470.55M | -607.35M | -335.61M | -613.79M |
| Financing Cash Flow | -37.22M | -120.86M | -103.92M | -103.31M | -204.18M | -505.78M |
CD Projekt Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OTGLY, the sentiment is Negative. The current price of 16.32 is below the 20-day moving average (MA) of 16.85, below the 50-day MA of 16.36, and below the 200-day MA of 16.77, indicating a bearish trend. The MACD of 0.16 indicates Positive momentum. The RSI at 43.95 is Neutral, neither overbought nor oversold. The STOCH value of 40.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OTGLY.
CD Projekt Peers Comparison
Overall Rating
NTES83.4Outperform- OTGLY70Outperform
BILI68Neutral
TTWO54Neutral
RBLX50Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| NTES | 83Outperform | $71.72B | 14.79 | 20.04% | 2.58% | 9.83% | -2.22% |
| OTGLY | 70Outperform | $6.52B | 41.40 | 18.64% | ― | -7.51% | 48.36% |
| BILI | 68Neutral | $5.37B | 23.41 | 9.84% | ― | 10.34% | 620.66% |
| Sector * | 60Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
| TTWO | 54Neutral | $35.56B | -109.92 | -9.12% | ― | 15.30% | 92.77% |
| RBLX | 50Neutral | $30.77B | -31.14 | -397.76% | ― | 32.13% | 4.15% |
* Communication Services Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| OTGLY | Cd Projekt S.A. | 16.32 | -0.97 | -5.61% | |
| NTES | Netease | 113.64 | -24.14 | -17.52% | |
| TTWO | Take-Two Interactive | 190.17 | -65.48 | -25.61% | |
| BILI | Bilibili | 12.68 | -17.51 | -58.00% | |
| RBLX | Roblox Corp. | 42.99 | -64.67 | -60.07% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Sep 07, 2026