Games Workshop Group (LSE:GAW) EBIT: £278.3 Mil (TTM As of Nov. 2025)


LSE:GAW Games Workshop Group PLC LSE:GAW
95 GF Score
Price £218.00
GF Value £147.20
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Games Workshop Group EBIT?

Games Workshop Group LSE:GAW +7.18% 95 EBIT is £278.3 Mil as of Nov. 2025. GuruFocus rates LSE:GAW with a GF Score™ of 95/100 and a GF Value™ of £147.20 (Significantly Overvalued). The stock has 5 warning signs investors should review.

Games Workshop Group's earnings before interest and taxes (EBIT) for the six months ended in Nov. 2025 was £141.6 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Nov. 2025 was £278.3 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Games Workshop Group's annualized ROC % for the quarter that ended in Nov. 2025 was 93.58%. Games Workshop Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Nov. 2025 was 232.32%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Games Workshop Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Nov. 2025 was 3.93%.


Games Workshop Group  (LSE:GAW) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Games Workshop Group's annualized ROC % for the quarter that ended in Nov. 2025 is calculated as:

ROC % (Q: Nov. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: May. 2025 ) + Invested Capital (Q: Nov. 2025 ))/ count )
=280.8 * ( 1 - 25.07% )/( (219.7 + 230)/ 2 )
=210.40344/224.85
=93.58 %

where

Note: The Operating Income data used here is two times the semi-annual (Nov. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Games Workshop Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Nov. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Nov. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: May. 2025  Q: Nov. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=283.2/( ( (108.9 + max(7.9, 0)) + (120.6 + max(6.4, 0)) )/ 2 )
=283.2/( ( 116.8 + 127 )/ 2 )
=283.2/121.9
=232.32 %

where Working Capital is:

Working Capital(Q: May. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(17.5 + 39.5 + 3.3) - (30.7 + 0 + 21.7)
=7.9

Working Capital(Q: Nov. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(22.4 + 39.9 + 1.4) - (31.2 + 0 + 26.1)
=6.4

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Nov. 2025) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Games Workshop Group's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Nov. 2025 )
=278.3/7082.432
=3.93 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Games Workshop Group EBIT Related Terms


Games Workshop Group EBIT Historical Data

* Premium members only.

The historical data trend for Games Workshop Group's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Games Workshop Group EBIT Chart

Games Workshop Group Annual Data
Trend May16 May17 May18 May19 May20 May21 May22 May23 May24 May25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 151.90 157.30 171.50 204.30 264.20

Games Workshop Group Semi-Annual Data
May16 Nov16 May17 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25 Nov25
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 95.70 108.60 127.50 136.70 141.60

LSE:GAW vs AS, HAS, LTH: EBIT Comparison

For the Leisure subindustry, Games Workshop Group's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Games Workshop Group EV-to-EBIT vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Games Workshop Group's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Games Workshop Group's EV-to-EBIT falls into.


LSE:GAW
95GF Score
Games Workshop Group PLC LSE:GAW
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Games Workshop Group EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Nov. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was £278.3 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of £278.3 Mil mean?
Games Workshop Group (LSE:GAW) has a EBIT of £278.3 Mil as of Nov. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Games Workshop Group.
Is Games Workshop Group's EBIT too high?
Games Workshop Group's current EBIT is £278.3 Mil. Overall, Games Workshop Group has a GF Score™ of 95/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Games Workshop Group's EBIT compare to AS and HAS?
Games Workshop Group's EBIT of £278.3 Mil can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Travel & Leisure company?
A good EBIT depends on the Travel & Leisure industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Games Workshop Group. Games Workshop Group's current EBIT is £278.3 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Games Workshop Group stock overvalued right now?
Based on GuruFocus' analysis, Games Workshop Group (LSE:GAW) is currently considered Significantly Overvalued. The stock's GF Value™ is £147.20, compared to a current price of £218.00 — trading 48.1% above its estimated fair value. The current EBIT is £278.3 Mil. Games Workshop Group's overall GF Score™ is 95/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Games Workshop Group (LSE:GAW), the current EBIT is £278.3 Mil as of Nov. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Games Workshop Group (LSE:GAW) Overvalued in 2026?

Based on GuruFocus' analysis, Games Workshop Group stock appears to be overvalued. The current stock price of £218.00 is trading 48.1% above its estimated GF Value™ of £147.20. GuruFocus considers Games Workshop Group to be Significantly Overvalued.

Key valuation signals for LSE:GAW:

  • EBIT: £278.3 Mil
  • GF Value™: £147.20 vs. price of £218.00 (48.1% above fair value)
  • GF Score™: 95/100 with 5 warning signs

No single metric tells the full story. See the LSE:GAW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Games Workshop Group Business Description

Address Willow Road, Lenton, Nottingham, GBR, NG7 2WS
Games Workshop Group PLC designs, manufactures and sells fantasy miniatures and games related products. It carries the manufacturing activity in the UK and sells the same in the different region of the countries such as Continental Europe, North America, and Asia Pacific. It operates through two segments Core and Licensing . The core segment includes all revenue and expenditure relating to the design, manufacture and sales of their fantasy miniatures and related products. The licensing segment includes all revenue and expenditure relating to licences granted to external partners. The company generates majority of its revenue from the core segment.
95GF Score

Get the complete analysis for LSE:GAW

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

£218.00
Price
£147.20
GF Value