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.
Ice Code GamesWAR:ICG +2.33% PB Ratio is 2.84 as of Jul. 21, 2026, which is 15% below its 10-year median of 3.34. The stock has 5 warning signs investors should review. Among 514 Interactive Media companies, Ice Code Games ranks worse than 68.48% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-21), Ice Code Games's share price is zł0.088. Ice Code Games's Book Value per Share for the quarter that ended in Mar. 2026 was zł0.03. Hence, Ice Code Games's PB Ratio of today is 2.84.
Good Sign:
Ice Code Games SA stock PB Ratio (=2.77) is close to 1-year low of 2.71.
The historical rank and industry rank for Ice Code Games's PB Ratio or its related term are showing as below:
WAR:ICG'
s PB Ratio Range Over the Past 10 Years
Min: 1.74 Med: 3.34 Max: 39.47
Current: 2.83
During the past 13 years, Ice Code Games's highest PB Ratio was 39.47. The lowest was 1.74. And the median was 3.34.
WAR:ICG's PB Ratio is ranked worse than 68.48% of 514
companies
in the Interactive Media industry
Industry Median: 1.72
vs WAR:ICG: 2.83
During the past 12 months, Ice Code Games's average Book Value Per Share Growth Rate was 287.50% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -31.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -8.50% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -7.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Ice Code Games was 36.70% per year. The lowest was -48.10% per year. And the median was -16.00% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Ice Code Games PB Ratio Related Terms
Ice Code Games PB Ratio Historical Data
* Premium members only.
The historical data trend for Ice Code Games's PB Ratio 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, Ice Code Games's PB Ratio, along with its competitors' market caps and PB Ratio 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.
Ice Code Games PB Ratio vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Ice Code Games's PB Ratio distribution charts can be found below:
* The bar in red indicates where Ice Code Games's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Ice Code Games's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Ice Code Games (WAR:ICG) has a PB Ratio of 2.84 as of Jul. 21, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Ice Code Games and its competitors. This is 15% below median its historical median of 3.34. Over the past decade, Ice Code Games' PB Ratio has ranged from 1.74 to 39.47. According to the industry distribution chart, Ice Code Games ranks #352 out of 514 companies in the Interactive Media industry, placing it in the top 68.5%.
Is Ice Code Games' PB Ratio too high?
Ice Code Games' current PB Ratio of 2.84 is 15% below median its 10-year median of 3.34. Over the past 10 years, this metric has ranged from a low of 1.74 to a high of 39.47. The Interactive Media industry median PB Ratio is 1.72. Ice Code Games' value of 2.84 is 65.1% above this industry median. Based on the distribution chart, Ice Code Games ranks #352 out of 514 companies in the Interactive Media industry, which is below the industry midpoint.
How does Ice Code Games' PB Ratio compare to NTES and EA?
According to the Interactive Media industry distribution chart, Ice Code Games ranks #352 out of 514 companies for PB Ratio. This places Ice Code Games in the lower half of its industry. The industry median PB Ratio is 1.72. Ice Code Games' value of 2.84 is 65.1% above this benchmark. Historically, Ice Code Games' own PB Ratio has ranged from 1.74 to 39.47 over the past decade. While the company's 10-year median is 3.34 vs. the industry median of 1.72, Ice Code Games 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 PB Ratio for an Interactive Media company?
The median PB Ratio among Interactive Media companies is 1.72, based on 514 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ice Code Games's current PB Ratio of 2.84 is 65.1% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Ice Code Games and its competitors. For the Interactive Media industry, the median PB Ratio is 1.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ice Code Games's current PB Ratio is 2.84, which is 15% below median its own 10-year median of 3.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ice Code Games stock overvalued right now?
Based on GuruFocus' analysis, Ice Code Games (WAR:ICG) is currently considered Possible Value Trap. The stock's GF Value™ is zł0.21, compared to a current price of zł0.09 — trading 58.1% below its estimated fair value. The current PB Ratio is 2.84, which is 15% below median its 10-year median of 3.34 and 65.1% above the Interactive Media industry median of 1.72. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Ice Code Games (WAR:ICG), the current PB Ratio is 2.84 as of Jul. 21, 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.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
WAR:ICG has been successfully added to your 
