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.
Frozen WayWAR:FRW +0.77%86 EV-to-FCF is 149.32 as of Aug. 01, 2026, which is 1275% above its 10-year median of 10.86. GuruFocus rates WAR:FRW with a GF Score™ of 86/100 and a GF Value™ of zł30.77 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 339 Interactive Media companies, Frozen Way ranks worse than 95.87% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Frozen Way's Enterprise Value is zł22.10 Mil.
Frozen Way's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was zł0.15 Mil. Therefore, Frozen Way's EV-to-FCF for today is 149.32.
The historical rank and industry rank for Frozen Way's EV-to-FCF or its related term are showing as below:
WAR:FRW'
s EV-to-FCF Range Over the Past 10 Years
Min: 6.21 Med: 10.86 Max: 239.83
Current: 147.9
During the past 6 years, the highest EV-to-FCF of Frozen Way was 239.83. The lowest was 6.21. And the median was 10.86.
WAR:FRW's EV-to-FCF is ranked worse than 95.87% of 339
companies
in the Interactive Media industry
Industry Median: 10.21
vs WAR:FRW: 147.90
EV-to-FCF 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.
EV-to-FCF 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.
Frozen Way's share price for today is zł26.10.
Frozen Way'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 zł1.307.
* 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. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Frozen Way EV-to-FCF Related Terms
Frozen Way EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Frozen Way's EV-to-FCF 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 Electronic Gaming & Multimedia subindustry, Frozen Way's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Frozen Way's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Frozen Way's EV-to-FCF falls into.
Frozen Way's current Enterprise Value is zł22.10 Mil.
Frozen Way's Free Cash Flow 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 zł0.15 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-FCF of 149.32 as of Aug. 01, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Frozen Way and its competitors. This is 1275% above median its historical median of 10.86. Over the past decade, Frozen Way's EV-to-FCF has ranged from 6.21 to 239.83. According to the industry distribution chart, Frozen Way ranks #325 out of 339 companies in the Interactive Media industry, placing it in the top 95.9%.
Is Frozen Way's EV-to-FCF too high?
Frozen Way's current EV-to-FCF of 149.32 is 1275% above median its 10-year median of 10.86. Over the past 10 years, this metric has ranged from a low of 6.21 to a high of 239.83. The Interactive Media industry median EV-to-FCF is 10.21. Frozen Way's value of 149.32 is 1362.5% above this industry median. Based on the distribution chart, Frozen Way ranks #325 out of 339 companies in the Interactive Media industry, which is in the bottom quartile relative to peers. Overall, Frozen Way has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Frozen Way's EV-to-FCF compare to NTES and EA?
According to the Interactive Media industry distribution chart, Frozen Way ranks #325 out of 339 companies for EV-to-FCF. This places Frozen Way in the lower half of its industry. The industry median EV-to-FCF is 10.21. Frozen Way's value of 149.32 is 1362.5% above this benchmark. Historically, Frozen Way's own EV-to-FCF has ranged from 6.21 to 239.83 over the past decade. While the company's 10-year median is 10.86 vs. the industry median of 10.21, 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-FCF for an Interactive Media company?
The median EV-to-FCF among Interactive Media companies is 10.21, based on 339 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Frozen Way's current EV-to-FCF of 149.32 is 1362.5% 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Frozen Way and its competitors. For the Interactive Media industry, the median EV-to-FCF is 10.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Frozen Way's current EV-to-FCF is 149.32, which is 1275% above median its own 10-year median of 10.86. 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 Modestly Undervalued. The stock's GF Value™ is zł30.77, compared to a current price of zł26.10 — trading 15.2% below its estimated fair value. The current EV-to-FCF is 149.32, which is 1275% above median its 10-year median of 10.86 and 1362.5% above the Interactive Media industry median of 10.21. Frozen Way's overall GF Score™ is 86/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Frozen Way (WAR:FRW), the current EV-to-FCF is 149.32 as of Aug. 01, 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 zł26.10 is trading 15.2% below its estimated GF Value™ of zł30.77.
GuruFocus considers Frozen Way to be Modestly Undervalued.
Key valuation signals for WAR:FRW:
EV-to-FCF: 149.32 (1275% above median its 10-year median of 10.86)
GF Value™: zł30.77 vs. price of zł26.10 (15.2% below fair value)
Industry Position: 1362.5% above the Interactive Media median (#325 of 339)
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.
86GF Score
Get the complete analysis for WAR:FRW
EV-to-FCF 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:FRW has been successfully added to your 
