VAR Share Price | Varsav Game Studios SA Stock Analysis & Recommendation

Results Declared: Varsav Game Studios SA has declared results on 12 Aug 2026! Click here to unlock the latest financial performance

Mojo Score Change: Varsav Game Studios SA has changed its score on 12 Aug 2026. Click here to unlock latest mojo score!

Price Point

High/Low

1Day

52 Week

Valuation

Technical

Day's Volume

CASH

N/A

Shareholding

FII

N/A

DII

N/A

Promoter

N/A

Compare Varsav Game Studios SA with Similar Stocks

Polyslash SA Betacom SA ManyDev Studio SE

Score

Click here to find our call on this stock

Strong Sell

Sell

Hold

Buy

Strong Buy

Dashboard

Poor Management Efficiency with a low ROE of 8.16%

The company has been able to generate a Return on Equity (avg) of 8.16% signifying low profitability per unit of shareholders funds

Company's ability to service its debt is weak with a poor EBIT to Interest (avg) ratio of 0.08

Poor long term growth as Net Sales has grown by an annual rate of 19.23% over the last 5 years

Flat results in Jun 26

With ROE of 11.00%, it has a very attractive valuation with a 1.07 Price to Book Value

Mojo Parameters

Stock DNA

Industry

Software Products

Market cap

PLN 18 Million (Micro Cap)

P/E

10.00

Industry P/E

Dividend Yield

0.00%

Debt Equity

0.00

Return on Equity

10.99%

Price to Book

1.64

Revenue and Profits:

Net Sales:

0 Million

(Quarterly Results - Jun 2026)

Net Profit:

0 Million

Total Returns

Total Returns (Price + Dividend)

TimePeriod

Price Return

Dividend Return

Total Return

3 Months

128.89%

6 Months

92.88%

1 Year

132.51%

2 Years

104.37%

3 Years

54.19%

4 Years

41.87%

5 Years

-39.41%

Varsav Game Studios SA for the last several years.

Risk Adjusted Returns v/s

News & Corporate Actions

News

No Recent News for the Company

Announcements

No announcement available

Corporate Actions

No corporate action available

Key Factors

Quality key factors

Factor

Value

Sales Growth (5y)

19.23%

EBIT Growth (5y)

21.61%

EBIT to Interest (avg)

0.46

Debt to EBITDA (avg)

0.63

Net Debt to Equity (avg)

Sales to Capital Employed (avg)

0.13

Tax Ratio

Dividend Payout Ratio

Pledged Shares

Institutional Holding

ROCE (avg)

4.43%

ROE (avg)

8.16%

Valuation key factors

Factor

Value

P/E Ratio

Industry P/E

Price to Book Value

1.07

EV to EBIT

9.91

EV to EBITDA

9.39

EV to Capital Employed

1.07

EV to Sales

6.09

PEG Ratio

0.01

Dividend Yield

ROCE (Latest)

10.84%

ROE (Latest)

10.99%

Technicals key factors

Indicator

Weekly

Monthly

MACD

Bullish

Mildly Bullish

RSI

Bearish

Bollinger Bands

Bullish

Moving Averages

Bullish (Daily)

KST

Bullish

Dow Theory

Mildly Bullish

OBV

Bullish

Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned

Shareholding

Shareholding Snapshot

No data for shareholding present.

Shareholding Compare (%holding)

No data for shareholding present.

Financial

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    "btn_text": "All Quarterly Results",
    "header": "Quarterly Results Snapshot (Consolidated) - Jun'26 - YoY",
    "rhs": [
      {
        "prefix": "Net Sales ",
        "suffix": "YoY Growth in quarter ended Jun 2026 is 25.00% vs 100.00% in Jun 2025",
        "dir": -1
      },
      {
        "prefix": "Consolidated Net Profit ",
        "suffix": "YoY Growth in quarter ended Jun 2026 is -80.00% vs 225.00% in Jun 2025",
        "dir": -1
      }
    ],
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        "Jun'25",
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          "val2": "0.40",
          "chgp": "25.00%",
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          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "0.30",
          "val2": "0.40",
          "chgp": "-25.00%",
          "chgp_class": "negative"
        },
        {
          "field": "Interest",
          "val1": "0.20",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "-0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "0.10",
          "val2": "0.50",
          "chgp": "-80.00%",
          "chgp_class": "negative"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "601.60%",
          "val2": "1,011.70%",
          "chgp": "-41.01%",
          "chgp_class": "negative"
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      ]
    }
  },
  {
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        "prefix": "Net Sales ",
        "suffix": "YoY Growth in year ended Dec 2025 is 13.33% vs 25.00% in Dec 2024",
        "dir": -1
      },
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        "prefix": "Consolidated Net Profit ",
        "suffix": "YoY Growth in year ended Dec 2025 is -360.00% vs 109.26% in Dec 2024",
        "dir": -1
      }
    ],
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      "header": [
        "Dec'25",
        "Dec'24",
        "Change(%)"
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          "val2": "1.50",
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          "val1": "-1.50",
          "val2": "0.40",
          "chgp": "-475.00%",
          "chgp_class": "negative"
        },
        {
          "field": "Interest",
          "val1": "0.20",
          "val2": "0.60",
          "chgp": "-66.67%",
          "chgp_class": "positive"
        },
        {
          "field": "Exceptional Items",
          "val1": "-0.60",
          "val2": "0.40",
          "chgp": "-250.00%",
          "chgp_class": "negative"
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          "val2": "0.50",
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          "field": "Operating Profit Margin (Excl OI)",
          "val1": "-913.00%",
          "val2": "253.10%",
          "chgp": "-116.61%",
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Quarterly Results Snapshot (Consolidated) - Jun'26 - YoY

Jun'26

Jun'25

Change(%)

Net Sales

0.50

0.40

25.00%

Operating Profit (PBDIT) excl Other Income

0.30

0.40

-25.00%

Interest

0.20

0.00

Exceptional Items

0.00

-0.00

Consolidate Net Profit

0.10

0.50

-80.00%

Operating Profit Margin (Excl OI)

601.60%

1,011.70%

-41.01%

USD in Million.

Compare with Peers

Net Sales

YoY Growth in quarter ended Jun 2026 is 25.00% vs 100.00% in Jun 2025

Consolidated Net Profit

YoY Growth in quarter ended Jun 2026 is -80.00% vs 225.00% in Jun 2025

All Quarterly Results

Annual Results Snapshot (Consolidated) - Dec'25

Dec'25

Dec'24

Change(%)

Net Sales

1.70

1.50

13.33%

Operating Profit (PBDIT) excl Other Income

-1.50

0.40

-475.00%

Interest

0.20

0.60

-66.67%

Exceptional Items

-0.60

0.40

-250.00%

Consolidate Net Profit

-1.30

0.50

-360.00%

Operating Profit Margin (Excl OI)

-913.00%

253.10%

-116.61%

USD in Million.

Compare with Peers

Net Sales

YoY Growth in year ended Dec 2025 is 13.33% vs 25.00% in Dec 2024

Consolidated Net Profit

YoY Growth in year ended Dec 2025 is -360.00% vs 109.26% in Dec 2024

All Annual Results

Company CV

About Varsav Game Studios SA

Varsav Game Studios SA

Software Products

Varsav Game Studios SA, formerly Varsav VR SA, is a Poland-based company that focuses its activities in the area of computer games and application production. The company also provides Internet Technology (IT)services to external entities and creates technological and business facilities for projects in the new technologies sector. In addition, as an additional activity complementing the basic business, the Company conducts activities consisting in providing substantive, technological or financial support for projects from entities in the computer games industry.

Company Coordinates

Company Details

Ul. Wilcza 28/10 , WARSZAWA None : 00-544

Tel: 48 22 1004841

https://varsav.com/

Registrar Details