Ten Square Games SA (TEN) AI Stock Analysis

Ten Square Games SA

(Warsaw:TEN)

Select Model

Rating:68Neutral

Price Target:PLN 92.00▲(1.77% Upside)

Action:initiatedcoverage

Date:09/16/25

The valuation is highly attractive driven by a very low P/E ratio and outstanding dividend yield, making the stock look inexpensive versus its historical profitability. However, the score is moderated by ongoing revenue contraction, negative free cash flow growth, and the absence of technical momentum signals, which pose risks to future financial stability and investor confidence.

Positive Factors

ProfitabilityHigh gross profit margins indicate efficient cost management, which supports sustainable profitability and competitive pricing strategies.

Negative Factors

Revenue DeclineDeclining revenue growth can signal market saturation or competitive pressures, potentially impacting future profitability and market position.

Ten Square Games SA (TEN) vs. SPDR S&P 500 ETF (SPY)

Market Cap: PLN 580.30M
Dividend Yield: 10.93%
Average Volume (3M): 15.88K
Price to Earnings (P/E): 10.1
Beta (1Y): 0.65
Revenue Growth: 1.01%
EPS Growth: -22.69%
Country: PL
Employees: 189
Sector: Communication Services
Sector Strength: 60
Industry: Electronic Gaming & Multimedia

Ten Square Games SA Business Overview & Revenue Model

Company Description

Operating on a global scale, Ten Square Games S.A. specializes in the full lifecycle of digital entertainment, encompassing the development, production, distribution, licensing, and continuous support for computer software, as well as games across PC...

How the Company Makes Money

Ten Square Games generates revenue primarily through in-game purchases and microtransactions within its titles. Players can buy virtual goods, upgrades, and other enhancements that enhance their gaming experience. Additionally, the company monetizes...

Ten Square Games SA Financial Statement Overview

Summary

Profitability and margins are strong—gross margin at 83.5%, net margin at 20.2%, and exceptionally low leverage (debt/equity 0.04). However, persistent revenue contraction (-3.5% TTM), shrinking equity, and sharply declining free cash flow (-131% TTM) add risk, tempering the resilience shown in operating metrics.

Income Statement

72Positive

Balance Sheet

65Positive

Cash Flow

60Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	373.14M	361.90M	386.45M	436.08M	538.56M	634.05M
Gross Profit	308.89M	300.27M	320.13M	363.36M	468.46M	580.11M
EBITDA	77.60M	99.80M	94.06M	43.43M	85.50M	172.62M
Net Income	57.75M	76.96M	67.08M	15.21M	51.60M	141.26M
Balance Sheet
Total Assets	321.70M	373.04M	416.85M	458.10M	520.71M	520.28M
Cash, Cash Equivalents and Short-Term Investments	73.13M	120.33M	143.77M	162.83M	126.59M	139.55M
Total Debt	4.41M	5.88M	7.95M	5.02M	9.22M	12.68M
Total Liabilities	131.17M	152.68M	173.59M	167.09M	178.24M	169.23M
Stockholders Equity	190.53M	220.37M	243.26M	291.01M	342.47M	351.05M
Cash Flow
Free Cash Flow	75.21M	94.88M	109.61M	110.77M	98.32M	176.02M
Operating Cash Flow	80.99M	97.94M	113.88M	121.51M	137.95M	200.40M
Investing Cash Flow	-23.20M	-18.78M	-17.60M	-26.57M	-55.50M	-222.00M
Financing Cash Flow	-67.01M	-103.23M	-117.06M	-58.44M	-95.22M	-75.07M

Ten Square Games SA Technical Analysis

Technical Analysis SentimentNegative

Last Price90.40

Price Trends

50DMA99.53Negative

100DMA98.25Negative

200DMA96.51Negative

Market Momentum

MACD-1.95Positive

RSI33.82Neutral

STOCH19.29Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PL:TEN, the sentiment is Negative. The current price of 90.40 is below the 20-day moving average (MA) of 96.54, below the 50-day MA of 99.53, and below the 200-day MA of 96.51, indicating a bearish trend. The MACD of -1.95 indicates Positive momentum. The RSI at 33.82 is Neutral, neither overbought nor oversold. The STOCH value of 19.29 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PL:TEN.

Ten Square Games SA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

PL:TEN against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PL:TEN	68Neutral	PLN 580.30M	10.09	26.84%	10.93%	1.01%	-22.69%
PL:CRJ	67Neutral	PLN 254.21M	5.65	34.87%	11.80%	125.72%	141.73%
Sector *	60Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
PL:BLO	53Neutral	PLN 431.47M	11.95	21.05%	―	81.45%	124.77%
PL:11B	51Neutral	PLN 282.81M	-112.50	-1.05%	―	-22.85%	-115.99%
PL:CIG	41Neutral	PLN 508.77M	305.92	0.91%	―	11.14%	985.71%

* Communication Services Sector Average

Performance Comparison

PL:TEN and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
PL:TEN	Ten Square Games SA	91.50	9.13	11.09%
PL:11B	11 Bit Studios SA	117.00	-58.20	-33.22%
PL:BLO	Bloober Team spolka akcyjna	22.35	-3.45	-13.37%
PL:CRJ	Creepy Jar SA	354.00	-44.58	-11.19%
PL:CIG	CI Games S.A.	2.33	-0.48	-17.11%
PL:ART	Artifex Mundi SA	19.44	5.50	39.45%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

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 16, 2025

Ten Square Games SA AI Stock Analysis