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Frozen WayWAR:FRW -1.48%86 Return-on-Tangible-Equity is 14.34% as of Mar. 2026, which is 72% below its 10-year median of 51.63. GuruFocus rates WAR:FRW with a GF Score™ of 86/100 and a GF Value™ of zł30.71 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 490 Interactive Media companies, Frozen Way ranks better than 54.29% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Frozen Way's annualized net income for the quarter that ended in Mar. 2026 was zł2.43 Mil. Frozen Way's average shareholder tangible equity for the quarter that ended in Mar. 2026 was zł16.95 Mil. Therefore, Frozen Way's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 14.34%.
The historical rank and industry rank for Frozen Way's Return-on-Tangible-Equity or its related term are showing as below:
WAR:FRW'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 7.88 Med: 51.63 Max: 106
Current: 7.88
During the past 6 years, Frozen Way's highest Return-on-Tangible-Equity was 106.00%. The lowest was 7.88%. And the median was 51.63%.
WAR:FRW's Return-on-Tangible-Equity is ranked better than 54.29% of 490
companies
in the Interactive Media industry
Industry Median: 5.225
vs WAR:FRW: 7.88
Frozen Way (WAR:FRW) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Frozen Way Return-on-Tangible-Equity Related Terms
Frozen Way Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Frozen Way's Return-on-Tangible-Equity 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:FRW vs NTES, EA, TTWO: Return-on-Tangible-Equity Comparison
For the Electronic Gaming & Multimedia subindustry, Frozen Way's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Frozen Way's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Frozen Way's Return-on-Tangible-Equity 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 14.34% mean?
Frozen Way (WAR:FRW) has a Return-on-Tangible-Equity of 14.34% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Frozen Way and its competitors. This is 72% below median its historical median of 51.63. Over the past decade, Frozen Way's Return-on-Tangible-Equity has ranged from 7.88 to 106.00. According to the industry distribution chart, Frozen Way ranks #224 out of 490 companies in the Interactive Media industry, placing it in the top 45.7%.
Is Frozen Way's Return-on-Tangible-Equity too high?
Frozen Way's current Return-on-Tangible-Equity of 14.34% is 72% below median its 10-year median of 51.63. Over the past 10 years, this metric has ranged from a low of 7.88 to a high of 106.00. The Interactive Media industry median Return-on-Tangible-Equity is 5.23. Frozen Way's value of 14.34% is 174.4% above this industry median. Based on the distribution chart, Frozen Way ranks #224 out of 490 companies in the Interactive Media industry, which is above the industry midpoint. 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 Return-on-Tangible-Equity compare to NTES and EA?
According to the Interactive Media industry distribution chart, Frozen Way ranks #224 out of 490 companies for Return-on-Tangible-Equity. This puts Frozen Way in the upper half of its industry. The industry median Return-on-Tangible-Equity is 5.23. Frozen Way's value of 14.34% is 174.4% above this benchmark. Historically, Frozen Way's own Return-on-Tangible-Equity has ranged from 7.88 to 106.00 over the past decade. While the company's 10-year median is 51.63 vs. the industry median of 5.23, 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 Return-on-Tangible-Equity for an Interactive Media company?
The median Return-on-Tangible-Equity among Interactive Media companies is 5.23, based on 490 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Frozen Way's current Return-on-Tangible-Equity of 14.34% is 174.4% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Frozen Way and its competitors. For the Interactive Media industry, the median Return-on-Tangible-Equity is 5.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Frozen Way's current Return-on-Tangible-Equity is 14.34%, which is 72% below median its own 10-year median of 51.63. 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 zł30.71, compared to a current price of zł26.70 — trading 13.1% below its estimated fair value. The current Return-on-Tangible-Equity is 14.34%, which is 72% below median its 10-year median of 51.63 and 174.4% above the Interactive Media industry median of 5.23. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Frozen Way (WAR:FRW), the current Return-on-Tangible-Equity is 14.34% 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 Frozen Way (WAR:FRW) Overvalued in 2026?
Based on GuruFocus' analysis, Frozen Way stock appears to be undervalued.
The current stock price of zł26.70 is trading 13.1% below its estimated GF Value™ of zł30.71.
GuruFocus considers Frozen Way to be Modestly Undervalued.
Key valuation signals for WAR:FRW:
Return-on-Tangible-Equity: 14.34% (72% below median its 10-year median of 51.63)
GF Value™: zł30.71 vs. price of zł26.70 (13.1% below fair value)
Industry Position: 174.4% above the Interactive Media median (#224 of 490)
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
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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