Top Page
Games Workshop
(LSE:GAW)
Games Workshop (GAW) vs. iShares MSCI United Kingdom ETF (EWC)
Games Workshop Business Overview & Revenue Model
Games Workshop Financial Statement Overview
| Breakdown | TTM | May 2024 | May 2023 | May 2022 | May 2021 | May 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 650.10M | 617.50M | 470.80M | 414.80M | 369.50M | 269.70M |
| Gross Profit | 469.70M | 445.00M | 319.80M | 282.70M | 269.30M | 177.00M |
| EBITDA | 323.40M | 308.10M | 211.00M | 192.90M | 178.10M | 115.10M |
| Net Income | 206.40M | 196.10M | 134.70M | 128.40M | 122.00M | 71.30M |
Balance Sheet | ||||||
| Total Assets | 432.30M | 383.00M | 326.80M | 321.10M | 281.70M | 207.60M |
| Cash, Cash Equivalents and Short-Term Investments | 171.10M | 132.60M | 90.20M | 71.40M | 85.20M | 52.90M |
| Total Debt | 87.30M | 45.20M | 49.90M | 48.90M | 47.00M | 37.00M |
| Total Liabilities | 113.10M | 102.20M | 91.70M | 86.40M | 85.40M | 73.90M |
| Stockholders Equity | 319.20M | 280.80M | 235.10M | 234.70M | 196.30M | 133.70M |
Cash Flow | ||||||
| Free Cash Flow | 256.40M | 206.50M | 165.60M | 89.40M | 102.90M | 80.00M |
| Operating Cash Flow | 283.30M | 247.40M | 193.90M | 121.70M | 132.90M | 104.60M |
| Investing Cash Flow | -43.50M | -38.00M | -28.30M | -32.30M | -30.00M | -24.60M |
| Financing Cash Flow | -193.50M | -183.30M | -146.60M | -103.60M | -70.00M | -56.80M |
Games Workshop Technical Analysis
Games Workshop Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | £5.73B | 15.34 | 73.69% | 2.96% | 17.46% | 29.67% | |
73 Outperform | £1.50B | 23.58 | 5.88% | 1.18% | 9.51% | -31.96% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | £23.00M | -1.20 | 63.25% | ― | -1.96% | 28.69% | |
50 Neutral | £2.74M | ― | -169.50% | ― | -54.59% | ― | |
46 Neutral | £41.52M | -45.67 | -3.46% | 5.32% | -18.60% | -128.39% | |
46 Neutral | £701.90M | -6.05 | -11.61% | 4.48% | -19.03% | -318.35% |
Games Workshop Corporate Events
Games Workshop has disclosed that its Non-Executive Chair, Mark Lam, purchased 110 ordinary shares in the company on 11 March 2026 at a price of £171.385101 per share on the London Stock Exchange’s Main Market. Following this transaction, Lam’s total beneficial holding stands at 311 ordinary shares, representing a negligible proportion of the company’s issued share capital but signaling personal financial commitment from a key board member.
The share purchase is relatively small in the context of Games Workshop’s overall equity base and is unlikely to have a direct impact on the company’s operations or capital structure. However, director share buying is often read by investors as a modest vote of confidence in the company’s prospects and governance, potentially offering a marginally positive signal to the market despite the low percentage holding involved.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £19217.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop shareholders have approved both resolutions put to a general meeting on 5 March 2026, including the ratification of past non-executive directors’ fee payments that exceeded the existing cap in the company’s articles and an increase to the annual limit on such fees. Investors also backed the adoption of new articles of association, with around 73% of issued share capital voting, signalling strong support for governance changes that formalise director remuneration arrangements and update the company’s constitutional framework.
Resolution 1 was passed in line with UK company law requirements, excluding votes from directors involved in the original fee decisions and related shareholders, underscoring an effort to manage potential conflicts of interest. The high level of approval for both resolutions indicates shareholder confidence in the board’s approach to aligning governance structures and pay policies with the company’s growth and operational needs.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £19776.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop has reported its latest six‑monthly block listing return for its Savings‑Related Share Option Scheme to the UK Financial Conduct Authority, covering the period from 1 September 2025 to 2 March 2026. The disclosure details how many shares have been issued under the employee scheme and confirms the total equity in issue, offering investors transparency on potential dilution.
During the period, 71,761 shares were issued or allotted under the scheme, leaving 33,825 shares still available but not yet allotted, out of a long‑standing series of option pool admissions dating back to 2006. Following these issuances, Games Workshop’s total shares in issue stand at 33,043,899, underscoring the modest scale of dilution from the employee scheme and signalling continued use of equity‑based incentives in the company’s capital management strategy.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £19879.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop Group PLC reported that it has 33,043,899 issued ordinary shares of 5 pence each in circulation, with each share conferring one vote at the company’s general meetings. The company confirmed it holds no shares in treasury, meaning all issued shares are currently voting shares, and this figure serves as the reference total for investors assessing disclosure obligations under U.K. transparency rules.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £19879.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop Group PLC has called a General Meeting for 5 March 2026 in Nottingham, issuing a circular to shareholders that outlines proposed changes to director remuneration and governance documents. The board unanimously backs the measures and is urging investors to support them, signalling a bid to formalise past fee practices and modernise the company’s constitutional framework.
The first resolution seeks shareholder approval to ratify prior payments of non-executive directors’ fees that exceeded limits in the current articles of association and to raise the annual cap on such fees going forward. A second, special resolution asks investors to adopt new articles of association, a step that could give the board greater flexibility on governance and remuneration as the company continues to manage its growth and stakeholder expectations.
Shareholders are being sent the circular or notified electronically, and the documentation is available on the company’s investor website, at its Nottingham offices and via the UK’s National Storage Mechanism. The process underlines Games Workshop’s effort to align its corporate governance and pay structures with current practice while maintaining transparency through broad access to the meeting materials.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £19400.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop Group PLC has confirmed that, as of 2 February 2026, it has 33,043,643 issued ordinary shares of 5 pence each in circulation, with none held in treasury and each share carrying one vote at general meetings. The disclosure sets the official share capital and voting rights denominator for investors and other parties subject to UK Disclosure and Transparency Rules, clarifying the reference figure they must use when calculating and reporting any notifiable holdings or changes in their interest in the company.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £19446.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop Group PLC announced that chief executive Kevin Rountree has acquired 124 ordinary shares in the company under its dividend reinvestment plan at a price of £176.50583 per share, increasing his total beneficial holding to 22,377 shares, or about 0.07% of the company’s issued share capital. The modest increase in the CEO’s stake underscores ongoing executive alignment with shareholder interests and provides routine transparency to investors on insider dealings, as required by market disclosure rules for London Stock Exchange-listed companies.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £19446.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop Group PLC has declared an interim dividend of £1.10 per share, bringing total dividends declared so far for the 2025/26 financial year to £4.85 per share, up from £4.20 in the prior year and in line with its stated dividend policy. The dividend will be paid on 27 May 2026 to shareholders on the register as of 17 April 2026, with an ex-dividend date of 16 April 2026 and an option for investors to reinvest through a dividend re-investment plan administered by Equiniti, underscoring the company’s continued focus on returning cash to shareholders and signaling ongoing confidence in its cash generation.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £21000.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop reported record half-year results for the 26 weeks to 30 November 2025, with total revenue rising to £332.1m from £299.5m and operating profit increasing to £140.4m from £126.1m, driven by strong core sales across all 23 core countries and all three primary channels despite a sharp fall in licensing revenue. Profit before tax climbed to £140.8m, earnings per share improved to 319.9p, and the group boosted its cash generation ahead of dividends while continuing to invest in UK manufacturing capacity, future-proofing warehousing, and planning a new Warhammer World flagship location in North America. The company has so far offset around £6m of new US tariffs through efficiency gains, moderate price increases and lower stock write-offs, while also expanding its pipeline of licensed video games and screen projects, including ongoing live-action and animated collaborations with Amazon MGM Studios, and maintaining a cautious stance on AI to protect its intellectual property and emphasise human creative work.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £21000.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop Group PLC has confirmed that, as of 2 January 2026, it has 33,043,385 issued ordinary shares of 5 pence each in circulation, all of which carry one voting right and none of which are held in treasury. This updated share capital and voting rights figure will serve as the reference denominator for investors and other interested parties when calculating whether they must disclose holdings or changes in holdings under UK disclosure and transparency regulations, ensuring continued clarity around the company’s ownership structure.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £21000.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.
Games Workshop has strengthened its board with the appointment of Nilufer Kheraj OBE as a Non-Executive Director, effective 1 January 2026. Kheraj brings extensive corporate and commercial legal experience from a 31-year career at law firm Slaughter and May, where she was a partner for 27 years, and currently serves as a Non-Executive Director at Legal & General Group. The company also confirmed that Kate Marsh, a long-serving Non-Executive Director and Chair of the Remuneration Committee, will step down from the board on 31 December 2025, with Randal Casson taking over as Chair of the Remuneration Committee from 1 January 2026. In line with UK corporate governance provisions, Games Workshop has begun recruiting an additional Non-Executive Director, underscoring its focus on board refreshment, succession planning and maintaining strong governance structures as it continues to grow.
The most recent analyst rating on (GB:GAW) stock is a Buy with a £21000.00 price target. To see the full list of analyst forecasts on Games Workshop stock, see the GB:GAW Stock Forecast page.