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Games Workshop GroupLSE:GAW +0.94%90 EV-to-OCF is 22.07 as of Sep. 04, 2026, which is 12% above its 10-year median of 19.68. GuruFocus rates LSE:GAW with a GF Score™ of 90/100 and a GF Value™ of £162.30 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 854 Travel & Leisure companies, Games Workshop Group ranks worse than 79.74% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Games Workshop Group's Enterprise Value is £5,907.2 Mil.
Games Workshop Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in May. 2026 was £267.7 Mil. Therefore, Games Workshop Group's EV-to-OCF for today is 22.07.
The historical rank and industry rank for Games Workshop Group's EV-to-OCF or its related term are showing as below:
LSE:GAW'
s EV-to-OCF Range Over the Past 10 Years
Min: 6.23 Med: 19.68 Max: 37.25
Current: 21.86
During the past 13 years, the highest EV-to-OCF of Games Workshop Group was 37.25. The lowest was 6.23. And the median was 19.68.
LSE:GAW's EV-to-OCF is ranked worse than 79.74% of 854
companies
in the Travel & Leisure industry
Industry Median: 9.31
vs LSE:GAW: 21.86
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
Games Workshop Group (LSE:GAW) EV-to-OCF Explanation
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
Games Workshop Group's PE Ratio (TTM) for today is calculated as:
Games Workshop Group's share price for today is £182.60.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Games Workshop Group's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in May. 2026 was £6.225.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Games Workshop Group EV-to-OCF Related Terms
Games Workshop Group EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Games Workshop Group's EV-to-OCF 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.
For the Leisure subindustry, Games Workshop Group's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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-OCF vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Games Workshop Group's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Games Workshop Group's EV-to-OCF falls into.
Games Workshop Group's current Enterprise Value is £5,907.2 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Games Workshop Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in May. 2026 was £267.7 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.
Games Workshop Group (LSE:GAW) has a EV-to-OCF of 22.07 as of Sep. 04, 2026. This is 12% above median its historical median of 19.68. Over the past decade, Games Workshop Group's EV-to-OCF has ranged from 6.23 to 37.25. According to the industry distribution chart, Games Workshop Group ranks #681 out of 854 companies in the Travel & Leisure industry, placing it in the top 79.7%.
Is Games Workshop Group's EV-to-OCF too high?
Games Workshop Group's current EV-to-OCF of 22.07 is 12% above median its 10-year median of 19.68. Over the past 10 years, this metric has ranged from a low of 6.23 to a high of 37.25. The Travel & Leisure industry median EV-to-OCF is 9.31. Games Workshop Group's value of 22.07 is 137.1% above this industry median. Based on the distribution chart, Games Workshop Group ranks #681 out of 854 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Games Workshop Group has a GF Score™ of 90/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Games Workshop Group's EV-to-OCF compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Games Workshop Group ranks #681 out of 854 companies for EV-to-OCF. This places Games Workshop Group in the lower half of its industry. The industry median EV-to-OCF is 9.31. Games Workshop Group's value of 22.07 is 137.1% above this benchmark. Historically, Games Workshop Group's own EV-to-OCF has ranged from 6.23 to 37.25 over the past decade. While the company's 10-year median is 19.68 vs. the industry median of 9.31, Games Workshop Group 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-OCF for a Travel & Leisure company?
The median EV-to-OCF among Travel & Leisure companies is 9.31, based on 854 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Games Workshop Group's current EV-to-OCF of 22.07 is 137.1% 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-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Travel & Leisure industry, the median EV-to-OCF is 9.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Games Workshop Group's current EV-to-OCF is 22.07, which is 12% above median its own 10-year median of 19.68. 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 Modestly Overvalued. The stock's GF Value™ is £162.30, compared to a current price of £182.60 — trading 12.5% above its estimated fair value. The current EV-to-OCF is 22.07, which is 12% above median its 10-year median of 19.68 and 137.1% above the Travel & Leisure industry median of 9.31. Games Workshop Group's overall GF Score™ is 90/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Games Workshop Group (LSE:GAW), the current EV-to-OCF is 22.07 as of Sep. 04, 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 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 £182.60 is trading 12.5% above its estimated GF Value™ of £162.30.
GuruFocus considers Games Workshop Group to be Modestly Overvalued.
Key valuation signals for LSE:GAW:
EV-to-OCF: 22.07 (12% above median its 10-year median of 19.68)
GF Value™: £162.30 vs. price of £182.60 (12.5% above fair value)
Industry Position: 137.1% above the Travel & Leisure median (#681 of 854)
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 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.
90GF Score
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