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Image PowerWAR:IPW 69 Owner Earnings per Share (TTM) is 0.15 as of Mar. 2026, which is 99% below its 10-year median of 19.19. GuruFocus rates WAR:IPW with a GF Score™ of 69/100 and a GF Value™ of zł3.66 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 245 Interactive Media companies, Image Power ranks better than 54.29% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Image Power's Owner Earnings per Share (TTM) ended in Mar. 2026 was zł0.15. It's Price-to-Owner-Earnings ratio for today is 12.53.
The historical rank and industry rank for Image Power's Owner Earnings per Share (TTM) or its related term are showing as below:
WAR:IPW'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 6.51 Med: 19.19 Max: 38.71
Current: 12.88
During the past 8 years, the highestPrice-to-Owner-Earnings ratio of Image Power was 38.71. The lowest was 6.51. And the median was 19.19.
WAR:IPW's Price-to-Owner-Earnings is ranked better than 54.29% of 245
companies
in the Interactive Media industry
Industry Median: 13.7
vs WAR:IPW: 12.88
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Image Power Owner Earnings per Share (TTM) Related Terms
Image Power Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for Image Power's Owner Earnings per Share (TTM) 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:IPW vs NTES, EA, TTWO: Owner Earnings per Share (TTM) Comparison
For the Electronic Gaming & Multimedia subindustry, Image Power's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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.
Image Power Price-to-Owner-Earnings vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Image Power's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Image Power's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
Image Power's Change In Deferred Tax for the trailing twelve months (TTM) ended in Mar. 2026 was zł0.00 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = zł0.01 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
Image Power's 5-Year Average Maintenance Capital Expenditure = zł0.01 Mil
5. "Change In Working Capital" is from cashflow statement. Image Power's Change In Working Capital for the trailing twelve months (TTM) ended in Mar. 2026 was zł2.57 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* 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.
What does a Owner Earnings per Share (TTM) of 0.15 mean?
Image Power (WAR:IPW) has a Owner Earnings per Share (TTM) of 0.15 as of Mar. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Image Power. This is 99% below median its historical median of 19.19. Over the past decade, Image Power's Owner Earnings per Share (TTM) has ranged from 6.51 to 38.71. According to the industry distribution chart, Image Power ranks #112 out of 245 companies in the Interactive Media industry, placing it in the top 45.7%.
Is Image Power's Owner Earnings per Share (TTM) too high?
Image Power's current Owner Earnings per Share (TTM) of 0.15 is 99% below median its 10-year median of 19.19. Over the past 10 years, this metric has ranged from a low of 6.51 to a high of 38.71. The Interactive Media industry median Owner Earnings per Share (TTM) is 13.70. Image Power's value of 0.15 is 98.9% below this industry median. Based on the distribution chart, Image Power ranks #112 out of 245 companies in the Interactive Media industry, which is above the industry midpoint. Overall, Image Power has a GF Score™ of 69/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Image Power's Owner Earnings per Share (TTM) compare to NTES and EA?
According to the Interactive Media industry distribution chart, Image Power ranks #112 out of 245 companies for Owner Earnings per Share (TTM). This puts Image Power in the upper half of its industry. The industry median Owner Earnings per Share (TTM) is 13.70. Image Power's value of 0.15 is 98.9% below this benchmark. Historically, Image Power's own Owner Earnings per Share (TTM) has ranged from 6.51 to 38.71 over the past decade. While the company's 10-year median is 19.19 vs. the industry median of 13.70, Image Power has consistently been below 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 Owner Earnings per Share (TTM) for an Interactive Media company?
The median Owner Earnings per Share (TTM) among Interactive Media companies is 13.70, based on 245 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Image Power's current Owner Earnings per Share (TTM) of 0.15 is 98.9% below 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 Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Image Power. For the Interactive Media industry, the median Owner Earnings per Share (TTM) is 13.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Image Power's current Owner Earnings per Share (TTM) is 0.15, which is 99% below median its own 10-year median of 19.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Image Power stock overvalued right now?
Based on GuruFocus' analysis, Image Power (WAR:IPW) is currently considered Possible Value Trap. The stock's GF Value™ is zł3.66, compared to a current price of zł1.88 — trading 48.6% below its estimated fair value. The current Owner Earnings per Share (TTM) is 0.15, which is 99% below median its 10-year median of 19.19 and 98.9% below the Interactive Media industry median of 13.70. Image Power's overall GF Score™ is 69/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Image Power (WAR:IPW), the current Owner Earnings per Share (TTM) is 0.15 as of Mar. 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 Image Power (WAR:IPW) Overvalued in 2026?
Based on GuruFocus' analysis, Image Power stock appears to be undervalued.
The current stock price of zł1.88 is trading 48.6% below its estimated GF Value™ of zł3.66.
GuruFocus considers Image Power to be Possible Value Trap.
Key valuation signals for WAR:IPW:
Owner Earnings per Share (TTM): 0.15 (99% below median its 10-year median of 19.19)
GF Value™: zł3.66 vs. price of zł1.88 (48.6% below fair value)
Industry Position: 98.9% below the Interactive Media median (#112 of 245)
No single metric tells the full story. See the WAR:IPW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Image Power SA operates in the video game market, specializing in the production and distribution of games for desktop computers. The company is involved in the production, publishing and marketing of games. Its products are sold globally in the digital distribution model, mainly through the dedicated steam distribution platform, which is the distributor of PC games in the world. In addition, the games are released on consoles such as Nintendo Switch, Xbox One and PlayStation 4.
69GF Score
Get the complete analysis for WAR:IPW
Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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