Frozen Way (WAR:FRW) EBIT: zł1.76 Mil (TTM As of Mar. 2026)


WAR:FRW Frozen Way SA WAR:FRW
90 GF Score
Price zł28.00
GF Value zł30.63
Valuation Fairly Valued
! 5 Warning Signs
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What is Frozen Way EBIT?

Frozen Way WAR:FRW -0.71% 90 EBIT is zł1.76 Mil as of Mar. 2026. GuruFocus rates WAR:FRW with a GF Score™ of 90/100 and a GF Value™ of zł30.63 (Fairly Valued). The stock has 5 warning signs investors should review.

Frozen Way's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was zł0.74 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was zł1.76 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Frozen Way's annualized ROC % for the quarter that ended in Mar. 2026 was 12.18%. Frozen Way's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 23.78%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Frozen Way's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 7.31%.

Frozen Way  (WAR:FRW) EBIT Explanation

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

Frozen Way's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=2.536 * ( 1 - 17.73% )/( (16.415 + 17.85)/ 2 )
=2.0863672/17.1325
=12.18 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=22.302 - 0.509 - ( 5.378 - max(0, 3.809 - 21.231+5.378))
=16.415

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=23.251 - 0 - ( 5.401 - max(0, 3.73 - 22.063+5.401))
=17.85

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

Frozen Way's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2.956/( ( (0.132 + max(11.719, 0)) + (0.118 + max(12.891, 0)) )/ 2 )
=2.956/( ( 11.851 + 13.009 )/ 2 )
=2.956/12.43
=23.78 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.309 + 13.984 + 0.235) - (0.509 + 0 + 3.3)
=11.719

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.011 + 15.61 + 0) - (0 + 0 + 3.73)
=12.891

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

Frozen Way's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=1.762/24.102
=7.31 %

* 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.

Frozen Way EBIT Related Terms

Frozen Way EBIT Historical Data

* Premium members only.

The historical data trend for Frozen Way'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.

Frozen Way EBIT Chart

Frozen Way Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial 0.17 7.32 10.53 5.09 3.07

Frozen Way Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 2.05 0.99 1.01 -0.98 0.74

WAR:FRW vs NTES, EA, TTWO: EBIT Comparison

For the Electronic Gaming & Multimedia subindustry, Frozen Way'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.

Frozen Way EV-to-EBIT vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Frozen Way's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Frozen Way's EV-to-EBIT falls into.


WAR:FRW
90GF Score
Frozen Way SA WAR:FRW
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Frozen Way 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was zł1.76 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 zł1.76 Mil mean?
Frozen Way (WAR:FRW) has a EBIT of zł1.76 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Frozen Way.
Is Frozen Way's EBIT too high?
Frozen Way's current EBIT is zł1.76 Mil. Overall, Frozen Way has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Frozen Way's EBIT compare to NTES and EA?
Frozen Way's EBIT of zł1.76 Mil can be compared against companies in the Interactive Media 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 an Interactive Media company?
A good EBIT depends on the Interactive Media 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 Frozen Way. Frozen Way's current EBIT is zł1.76 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Frozen Way stock overvalued right now?
Based on GuruFocus' analysis, Frozen Way (WAR:FRW) is currently considered Fairly Valued. The stock's GF Value™ is zł30.63, compared to a current price of zł28.00 — trading 8.6% below its estimated fair value. The current EBIT is zł1.76 Mil. Frozen Way's overall GF Score™ is 90/100 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 Frozen Way (WAR:FRW), the current EBIT is zł1.76 Mil as of Mar. 2026. 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 Frozen Way (WAR:FRW) Overvalued in 2026?

Based on GuruFocus' analysis, Frozen Way stock appears to be undervalued. The current stock price of zł28.00 is trading 8.6% below its estimated GF Value™ of zł30.63. GuruFocus considers Frozen Way to be Fairly Valued.

Key valuation signals for WAR:FRW:

  • EBIT: zł1.76 Mil
  • GF Value™: zł30.63 vs. price of zł28.00 (8.6% below fair value)
  • GF Score™: 90/100 with 5 warning signs

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

Frozen Way Business Description

Address Armii Krajowej 25, Krakow, POL, 30-150
Frozen Way SA is a Poland-based developer of video games. It is an independent game development studio and publisher. Its game portfolio comprises House Flipper Pets, House Flipper VR, and Builder Simulator.
90GF Score

Get the complete analysis for WAR:FRW

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

zł28.00
Price
zł30.63
GF Value