Games Workshop GroupLSE:GAW -0.09%95 Gross Margin % is 70.91% as of Nov. 2025, which is 1% above its 10-year median of 70.14. GuruFocus rates LSE:GAW with a GF Score™ of 95/100 and a GF Value™ of £147.23 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 792 Travel & Leisure companies, Games Workshop Group ranks better than 83.21% on this metric.
The historical rank and industry rank for Games Workshop Group's Gross Margin % or its related term are showing as below:
LSE:GAW'
s Gross Margin % Range Over the Past 10 Years
Min: 66.96 Med: 70.14 Max: 73.94
Current: 72.07
During the past 13 years, the highestGross Margin % of Games Workshop Group was 73.94%. The lowest was 66.96%. And the median was 70.14%.
LSE:GAW's Gross Margin % is ranked better than 83.21% of 792
companies
in the Travel & Leisure industry
Industry Median: 43.79
vs LSE:GAW: 72.07
Games Workshop Group had a gross margin of 70.91% for the quarter that ended in Nov. 2025 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Games Workshop Group was 0.70% per year.
Games Workshop Group (LSE:GAW) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Games Workshop Group had a gross margin of 70.91% for the quarter that ended in Nov. 2025 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Games Workshop Group Gross Margin % Related Terms
Games Workshop Group Gross Margin % Historical Data
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The historical data trend for Games Workshop Group's Gross Margin % 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.
LSE:GAW vs AS, HAS, LTH: Gross Margin % Comparison
For the Leisure subindustry, Games Workshop Group's Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Games Workshop Group's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Games Workshop Group's Gross Margin % falls into.
* 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Games Workshop Group (LSE:GAW) has a Gross Margin % of 70.91% as of Nov. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Games Workshop Group and its competitors. This is near median its historical median of 70.14. Over the past decade, Games Workshop Group's Gross Margin % has ranged from 66.96 to 73.94. According to the industry distribution chart, Games Workshop Group ranks #133 out of 792 companies in the Travel & Leisure industry, placing it in the top 16.8%.
Is Games Workshop Group's Gross Margin % too high?
Games Workshop Group's current Gross Margin % of 70.91% is near median its 10-year median of 70.14. Over the past 10 years, this metric has ranged from a low of 66.96 to a high of 73.94. The Travel & Leisure industry median Gross Margin % is 43.79. Games Workshop Group's value of 70.91% is 61.9% above this industry median. Based on the distribution chart, Games Workshop Group ranks #133 out of 792 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, Games Workshop Group has a GF Score™ of 95/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Games Workshop Group's Gross Margin % compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Games Workshop Group ranks #133 out of 792 companies for Gross Margin %. This places Games Workshop Group in the top 17% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 43.79. Games Workshop Group's value of 70.91% is 61.9% above this benchmark. Historically, Games Workshop Group's own Gross Margin % has ranged from 66.96 to 73.94 over the past decade. While the company's 10-year median is 70.14 vs. the industry median of 43.79, 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 Gross Margin % for a Travel & Leisure company?
The median Gross Margin % among Travel & Leisure companies is 43.79, based on 792 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Games Workshop Group's current Gross Margin % of 70.91% is 61.9% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Games Workshop Group and its competitors. For the Travel & Leisure industry, the median Gross Margin % is 43.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Games Workshop Group's current Gross Margin % is 70.91%, which is near median its own 10-year median of 70.14. 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 Significantly Overvalued. The stock's GF Value™ is £147.23, compared to a current price of £219.20 — trading 48.9% above its estimated fair value. The current Gross Margin % is 70.91%, which is near median its 10-year median of 70.14 and 61.9% above the Travel & Leisure industry median of 43.79. Games Workshop Group's overall GF Score™ is 95/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Games Workshop Group (LSE:GAW), the current Gross Margin % is 70.91% as of Nov. 2025. 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 £219.20 is trading 48.9% above its estimated GF Value™ of £147.23.
GuruFocus considers Games Workshop Group to be Significantly Overvalued.
Key valuation signals for LSE:GAW:
Gross Margin %: 70.91% (near median its 10-year median of 70.14)
GF Value™: £147.23 vs. price of £219.20 (48.9% above fair value)
Industry Position: 61.9% above the Travel & Leisure median (#133 of 792)
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.
95GF Score
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