Full history for every metric is available with a Kvantra account
Key financial summary
Financials in PLN| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | PLN m | 2,139 | 888 | 953 | 1,230 | 985 | 867 | 859 | 866 |
| Operating profit | PLN m | 462 | 539 | ||||||
| Net profit | PLN m | 1,154 | 209 | 347 | 481 | 470 | 527 | 621 | 387 |
| EPS reported | PLN | 5.22 | 6.16 | ||||||
| Operating cashflow per share | PLN | 6.39 | 6.21 | ||||||
| Capex per share | PLN | 1.00 | 2.37 | ||||||
| FCF per share | PLN | 5.39 | 3.84 | ||||||
| Free cash flow | PLN m | 538 | 383 | ||||||
| Net debt | PLN m | -631 | -395 | ||||||
| Book value equity | PLN m | 3,290 | 3,561 | ||||||
| Book value per share | PLN | 32.63 | 35.66 | ||||||
| Number of shares | m | 100.84 | 99.84 | ||||||
| DPS (TTM paid) | PLN | 1.00 | 0.00 |
Financial summary
Financials in PLN| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 46.17 | 41.15 | ||||||
| P/B LTM | x | 7.31 | 7.11 | ||||||
| P/S LTM | x | 27.75 | 29.48 | ||||||
| P/FCF LTM | x | 44.68 | 66.12 | ||||||
| EV/EBITDA LTM | x | 45.27 | 41.70 | ||||||
| EV/Sales LTM | x | 27.65 | 29.02 | ||||||
| Earnings Yield LTM | % | 2.17% | 2.43% | ||||||
| FCF Yield | % | 2.24% | 1.51% | ||||||
| Quality | |||||||||
| ROE | % | 16.01% | 18.64% | ||||||
| ROIC | % | 13.44% | 14.88% | ||||||
| Operating margin | % | 53.32% | 62.73% | ||||||
| Gross margin | % | 89.66% | 97.70% | ||||||
| FCF/Sales | % | 62.10% | 44.58% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | +11.54% | +36.59% | ||||||
| Sales Growth YoY | % | -11.98% | -14.35% | ||||||
| Net Income Growth YoY | % | +12.12% | +36.55% | ||||||
| FCF Growth | % | +27.17% | +273.13% | ||||||
| Operating Profit Growth | % | +26.27% | +35.42% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | 0.42% | 0.00% | ||||||
| Dividend Growth | % | - | - | ||||||
| Payout Ratio | % | 18.98% | 16.13% | ||||||
| FCF/Debt | x | 20.68 | 8.31 | ||||||
| Net Debt/EBITDA | x | -0.17 | 0.04 | ||||||
| EBIT/Net interest | x | 508.00 | 634.87 | ||||||
| Net debt/market cap | % | -2.62% | -1.56% | ||||||
| Net debt/Equity | x | -0.19 | -0.11 | ||||||
| Gross debt/equity | x | 0.01 | 0.01 | ||||||
ETFs that hold CD Projekt
| Fund | Ticker | Position# | Weight |
|---|---|---|---|
| VanEck Video Gaming and eSports UCITS ETF | ESP0.DE | 10 | 4.73% |
| VanEck Video Gaming and eSports ETF | ESPO | 10 | 4.68% |
| Beta ETF WIG20TR | ETFBW20TR.WA | 10 | 2.98% |
Funds with CD Projekt among their ten largest holdings, largest fund first.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
Company overview
CD Projekt S.A., alongside its affiliated companies, operates as a global entity specializing in the creation, publication, and digital distribution of video games for both personal computers and consoles. The company organizes its operations into two main divisions: CD PROJEKT RED and GOG.com. Its distinguished portfolio of titles includes the entire Witcher saga – encompassing The Witcher, The Witcher 2: Assassins of Kings, The Witcher 3: Wild Hunt, Thronebreaker: The Witcher Tales, and Gwent: The Witcher Card Game – as well as the critically acclaimed Cyberpunk 2077. Furthermore, CD Projekt S.A. facilitates the sale and delivery of digital games through its proprietary GOG.com distribution platform and the GOG GALAXY application. The firm extends its market reach across Europe, North America, South America, Asia, Australia, and Africa. Established in 2001, CD Projekt S.A. is headquartered in Warsaw, Poland.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
| Fund | Ticker | Position# | Weight |
|---|---|---|---|
| VanEck Video Gaming and eSports UCITS ETF | ESP0.DE | 10 | 4.73% |
| VanEck Video Gaming and eSports ETF | ESPO | 10 | 4.68% |
| Beta ETF WIG20TR | ETFBW20TR.WA | 10 | 2.98% |
Funds with CD Projekt among their ten largest holdings, largest fund first.
Based on consensus from external analysts. Not Kvantra's opinion.
CD Projekt S.A., alongside its affiliated companies, operates as a global entity specializing in the creation, publication, and digital distribution of video games for both personal computers and consoles. The company organizes its operations into two main divisions: CD PROJEKT RED and GOG.com. Its distinguished portfolio of titles includes the entire Witcher saga – encompassing The Witcher, The Witcher 2: Assassins of Kings, The Witcher 3: Wild Hunt, Thronebreaker: The Witcher Tales, and Gwent: The Witcher Card Game – as well as the critically acclaimed Cyberpunk 2077. Furthermore, CD Projekt S.A. facilitates the sale and delivery of digital games through its proprietary GOG.com distribution platform and the GOG GALAXY application. The firm extends its market reach across Europe, North America, South America, Asia, Australia, and Africa. Established in 2001, CD Projekt S.A. is headquartered in Warsaw, Poland.
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