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Frozen WayWAR:FRW 83 EV-to-EBITDA is 10.76 as of Aug. 31, 2026, which is 66% above its 10-year median of 6.49. GuruFocus rates WAR:FRW with a GF Score™ of 83/100 and a GF Value™ of zł30.90 (Fairly Valued). The stock has 5 warning signs investors should review. Among 369 Interactive Media companies, Frozen Way ranks worse than 70.73% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Frozen Way's enterprise value is zł25.16 Mil.
Frozen Way's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 was zł2.34 Mil. Therefore, Frozen Way's EV-to-EBITDA for today is 10.76.
The historical rank and industry rank for Frozen Way's EV-to-EBITDA or its related term are showing as below:
WAR:FRW'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 3.34 Med: 6.49 Max: 18.21
Current: 12.91
During the past 6 years, the highest EV-to-EBITDA of Frozen Way was 18.21. The lowest was 3.34. And the median was 6.49.
WAR:FRW's EV-to-EBITDA is ranked worse than 70.73% of 369
companies
in the Interactive Media industry
Industry Median: 7.19
vs WAR:FRW: 12.91
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Frozen Way's share price for today is zł29.00.
Frozen Way's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was zł1.960.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Frozen Way's EV-to-EBITDA 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.
WAR:FRW vs NTES, TTWO, RBLX: EV-to-EBITDA Comparison
For the Electronic Gaming & Multimedia subindustry, Frozen Way's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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-EBITDA vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Frozen Way's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Frozen Way's EV-to-EBITDA falls into.
Frozen Way's current Enterprise Value is zł25.16 Mil.
Frozen Way's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was zł2.34 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.
Frozen Way (WAR:FRW) has a EV-to-EBITDA of 10.76 as of Aug. 31, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Frozen Way. This is 66% above median its historical median of 6.49. Over the past decade, Frozen Way's EV-to-EBITDA has ranged from 3.34 to 18.21. According to the industry distribution chart, Frozen Way ranks #261 out of 369 companies in the Interactive Media industry, placing it in the top 70.7%.
Is Frozen Way's EV-to-EBITDA too high?
Frozen Way's current EV-to-EBITDA of 10.76 is 66% above median its 10-year median of 6.49. Over the past 10 years, this metric has ranged from a low of 3.34 to a high of 18.21. The Interactive Media industry median EV-to-EBITDA is 7.19. Frozen Way's value of 10.76 is 49.7% above this industry median. Based on the distribution chart, Frozen Way ranks #261 out of 369 companies in the Interactive Media industry, which is below the industry midpoint. Overall, Frozen Way has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Frozen Way's EV-to-EBITDA compare to NTES and TTWO?
According to the Interactive Media industry distribution chart, Frozen Way ranks #261 out of 369 companies for EV-to-EBITDA. This places Frozen Way in the lower half of its industry. The industry median EV-to-EBITDA is 7.19. Frozen Way's value of 10.76 is 49.7% above this benchmark. Historically, Frozen Way's own EV-to-EBITDA has ranged from 3.34 to 18.21 over the past decade. While the company's 10-year median is 6.49 vs. the industry median of 7.19, Frozen Way has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Interactive Media company?
The median EV-to-EBITDA among Interactive Media companies is 7.19, based on 369 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Frozen Way's current EV-to-EBITDA of 10.76 is 49.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Frozen Way. For the Interactive Media industry, the median EV-to-EBITDA is 7.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Frozen Way's current EV-to-EBITDA is 10.76, which is 66% above median its own 10-year median of 6.49. 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 zł30.90, compared to a current price of zł29.00 — trading 6.1% below its estimated fair value. The current EV-to-EBITDA is 10.76, which is 66% above median its 10-year median of 6.49 and 49.7% above the Interactive Media industry median of 7.19. Frozen Way's overall GF Score™ is 83/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Frozen Way (WAR:FRW), the current EV-to-EBITDA is 10.76 as of Aug. 31, 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 zł29.00 is trading 6.1% below its estimated GF Value™ of zł30.90.
GuruFocus considers Frozen Way to be Fairly Valued.
Key valuation signals for WAR:FRW:
EV-to-EBITDA: 10.76 (66% above median its 10-year median of 6.49)
GF Value™: zł30.90 vs. price of zł29.00 (6.1% below fair value)
Industry Position: 49.7% above the Interactive Media median (#261 of 369)
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 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.
83GF Score
Get the complete analysis for WAR:FRW
EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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