Pyramid Games (WAR:PDG) ROC (Joel Greenblatt) %: -11.80% (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

WAR:PDG Pyramid Games SA WAR:PDG
57 GF Score
Price zł4.84
GF Value zł9.64
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is Pyramid Games ROC (Joel Greenblatt) %?

Pyramid Games WAR:PDG 57 ROC (Joel Greenblatt) % is -11.80% as of Mar. 2026. GuruFocus rates WAR:PDG with a GF Score™ of 57/100 and a GF Value™ of zł9.64 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 549 Interactive Media companies, Pyramid Games ranks worse than 61.2% on this metric.

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Pyramid Games's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -11.80%.

The historical rank and industry rank for Pyramid Games's ROC (Joel Greenblatt) % or its related term are showing as below:

WAR:PDG' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -21.35   Med: -12.78   Max: 30.72
Current: -12.33

During the past 8 years, Pyramid Games's highest ROC (Joel Greenblatt) % was 30.72%. The lowest was -21.35%. And the median was -12.78%.

WAR:PDG's ROC (Joel Greenblatt) % is ranked worse than
61.2% of 549 companies
in the Interactive Media industry
Industry Median: 17.28 vs WAR:PDG: -12.33

Pyramid Games's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.


Pyramid Games  (WAR:PDG) ROC (Joel Greenblatt) % Explanation

The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.


Pyramid Games ROC (Joel Greenblatt) % Related Terms


Pyramid Games ROC (Joel Greenblatt) % Historical Data

* Premium members only.

The historical data trend for Pyramid Games's ROC (Joel Greenblatt) % 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.

Pyramid Games ROC (Joel Greenblatt) % Chart

Pyramid Games Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial -16.41 30.72 -15.57 5.83 -9.99

Pyramid Games Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROC (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.40 4.23 2.19 -45.86 -11.80

WAR:PDG vs NTES, EA, TTWO: ROC (Joel Greenblatt) % Comparison

For the Electronic Gaming & Multimedia subindustry, Pyramid Games's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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.


Pyramid Games ROC (Joel Greenblatt) % vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Pyramid Games's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Pyramid Games's ROC (Joel Greenblatt) % falls into.


WAR:PDG
57GF Score
Pyramid Games SA WAR:PDG
ROC (Joel Greenblatt) % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pyramid Games ROC (Joel Greenblatt) % Calculation

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:

ROC (Joel Greenblatt) %=EBIT/Average of (Net fixed Assets + Net Working Capital)

EBIT stands for Earnings Before Interest and Taxes.

Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.

GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.14 + 3.696 + 0.204) - (0.057 + 0 + 0.072)
=3.911

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.351 + 3.44 + 0.0099999999999998) - (0 + 0 + 0.388)
=3.413

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Pyramid Games for the quarter that ended in Mar. 2026 can be restated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-0.432/( ( (0 + max(3.911, 0)) + (0 + max(3.413, 0)) )/ 2 )
=-0.432/( ( 3.911 + 3.413 )/ 2 )
=-0.432/3.662
=-11.80 %

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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 ROC (Joel Greenblatt) % of -11.80% mean?
Pyramid Games (WAR:PDG) has a ROC (Joel Greenblatt) % of -11.80% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Pyramid Games and its competitors. According to the industry distribution chart, Pyramid Games ranks #336 out of 549 companies in the Interactive Media industry, placing it in the top 61.2%.
Is Pyramid Games' ROC (Joel Greenblatt) % too high?
Pyramid Games' current ROC (Joel Greenblatt) % is -11.80%. Based on the distribution chart, Pyramid Games ranks #336 out of 549 companies in the Interactive Media industry, which is below the industry midpoint. Overall, Pyramid Games has a GF Score™ of 57/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pyramid Games' ROC (Joel Greenblatt) % compare to NTES and EA?
According to the Interactive Media industry distribution chart, Pyramid Games ranks #336 out of 549 companies for ROC (Joel Greenblatt) %. This places Pyramid Games in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 17.28. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for an Interactive Media company?
The median ROC (Joel Greenblatt) % among Interactive Media companies is 17.28, based on 549 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Pyramid Games and its competitors. For the Interactive Media industry, the median ROC (Joel Greenblatt) % is 17.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pyramid Games's current ROC (Joel Greenblatt) % is -11.80%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pyramid Games stock overvalued right now?
Based on GuruFocus' analysis, Pyramid Games (WAR:PDG) is currently considered Significantly Undervalued. The stock's GF Value™ is zł9.64, compared to a current price of zł4.84 — trading 49.8% below its estimated fair value. The current ROC (Joel Greenblatt) % is -11.80%. Pyramid Games' overall GF Score™ is 57/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Pyramid Games (WAR:PDG), the current ROC (Joel Greenblatt) % is -11.80% 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 Pyramid Games (WAR:PDG) Overvalued in 2026?

Based on GuruFocus' analysis, Pyramid Games stock appears to be undervalued. The current stock price of zł4.84 is trading 49.8% below its estimated GF Value™ of zł9.64. GuruFocus considers Pyramid Games to be Significantly Undervalued.

Key valuation signals for WAR:PDG:

  • ROC (Joel Greenblatt) %: -11.80%
  • GF Value™: zł9.64 vs. price of zł4.84 (49.8% below fair value)
  • GF Score™: 57/100 with 4 warning signs

No single metric tells the full story. See the WAR:PDG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pyramid Games Business Description

Address Al. Krasnicka 35, Lublin, POL, 20-718
Pyramid Games SA is engaged in the business of developing games. The games developed by the company include Occupy mars, Dinosaur fossil hunter, Zoo Keeper, and many more.
57GF Score

Get the complete analysis for WAR:PDG

ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

zł4.84
Price
zł9.64
GF Value