Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Varsav Game StudiosWAR:VAR -12.50%53 EV-to-EBITDA is 16.70 as of Aug. 24, 2026, which is 1677% above its 10-year median of 0.94. GuruFocus rates WAR:VAR with a GF Score™ of 53/100 and a GF Value™ of zł0.70 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 381 Interactive Media companies, Varsav Game Studios ranks worse than 76.64% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Varsav Game Studios's enterprise value is zł22.78 Mil.
Varsav Game Studios's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was zł1.36 Mil. Therefore, Varsav Game Studios's EV-to-EBITDA for today is 16.70.
The historical rank and industry rank for Varsav Game Studios's EV-to-EBITDA or its related term are showing as below:
WAR:VAR'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -47.79 Med: 0.94 Max: 472.48
Current: 16.7
During the past 13 years, the highest EV-to-EBITDA of Varsav Game Studios was 472.48. The lowest was -47.79. And the median was 0.94.
WAR:VAR's EV-to-EBITDA is ranked worse than 76.64% of 381
companies
in the Interactive Media industry
Industry Median: 7.12
vs WAR:VAR: 16.70
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.
Varsav Game Studios (WAR:VAR) EV-to-EBITDA Explanation
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.
Varsav Game Studios's PE Ratio (TTM) for today is calculated as:
Varsav Game Studios's share price for today is zł0.84.
Varsav Game Studios's Earnings per Share (Diluted) 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 zł0.050.
* 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 Varsav Game Studios'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:VAR vs NTES, EA, TTWO: EV-to-EBITDA Comparison
For the Electronic Gaming & Multimedia subindustry, Varsav Game Studios'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.
Varsav Game Studios EV-to-EBITDA vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Varsav Game Studios's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Varsav Game Studios's EV-to-EBITDA falls into.
Varsav Game Studios's current Enterprise Value is zł22.78 Mil.
Varsav Game Studios's EBITDA 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 zł1.36 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.
Varsav Game Studios (WAR:VAR) has a EV-to-EBITDA of 16.70 as of Aug. 24, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Varsav Game Studios. This is 1677% above median its historical median of 0.94. According to the industry distribution chart, Varsav Game Studios ranks #292 out of 381 companies in the Interactive Media industry, placing it in the top 76.6%.
Is Varsav Game Studios' EV-to-EBITDA too high?
Varsav Game Studios' current EV-to-EBITDA of 16.70 is 1677% above median its 10-year median of 0.94. The Interactive Media industry median EV-to-EBITDA is 7.12. Varsav Game Studios' value of 16.70 is 134.6% above this industry median. Based on the distribution chart, Varsav Game Studios ranks #292 out of 381 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Varsav Game Studios has a GF Score™ of 53/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Varsav Game Studios' EV-to-EBITDA compare to NTES and EA?
According to the Interactive Media industry distribution chart, Varsav Game Studios ranks #292 out of 381 companies for EV-to-EBITDA. This places Varsav Game Studios in the lower half of its industry. The industry median EV-to-EBITDA is 7.12. Varsav Game Studios' value of 16.70 is 134.6% above this benchmark. While the company's 10-year median is 0.94 vs. the industry median of 7.12, Varsav Game Studios 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 7.12, based on 381 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. Varsav Game Studios's current EV-to-EBITDA of 16.70 is 134.6% 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 Varsav Game Studios. For the Interactive Media industry, the median EV-to-EBITDA is 7.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Varsav Game Studios's current EV-to-EBITDA is 16.70, which is 1677% above median its own 10-year median of 0.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Varsav Game Studios stock overvalued right now?
Based on GuruFocus' analysis, Varsav Game Studios (WAR:VAR) is currently considered Modestly Overvalued. The stock's GF Value™ is zł0.70, compared to a current price of zł0.84 — trading 20% above its estimated fair value. The current EV-to-EBITDA is 16.70, which is 1677% above median its 10-year median of 0.94 and 134.6% above the Interactive Media industry median of 7.12. Varsav Game Studios' overall GF Score™ is 53/100 with 8 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 Varsav Game Studios (WAR:VAR), the current EV-to-EBITDA is 16.70 as of Aug. 24, 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 Varsav Game Studios (WAR:VAR) Overvalued in 2026?
Based on GuruFocus' analysis, Varsav Game Studios stock appears to be overvalued.
The current stock price of zł0.84 is trading 20% above its estimated GF Value™ of zł0.70.
GuruFocus considers Varsav Game Studios to be Modestly Overvalued.
Key valuation signals for WAR:VAR:
EV-to-EBITDA: 16.70 (1677% above median its 10-year median of 0.94)
GF Value™: zł0.70 vs. price of zł0.84 (20% above fair value)
Industry Position: 134.6% above the Interactive Media median (#292 of 381)
No single metric tells the full story. See the WAR:VAR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Varsav Game Studios SA is a Poland-based company. It is mainly engaged in the production of PC and mobile games and applications. The company offers various services to the gaming industry, including portfolio building and providing technological and financial support. Games developed by the company include Bee Simulator, AR Kicker, Crowd Dragons, Metamorphosis, and Interkosmos.
53GF Score
Get the complete analysis for WAR:VAR
EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
WAR:VAR has been successfully added to your 
