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Frozen Way Valuation Multiples

Discover revenue and EBITDA valuation multiples for Frozen Way and similar public comparables like Boyaa Interactive, Remedy Entertainment, and Trophy Games.

Frozen Way Overview

About Frozen Way

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.


Founded

HQ

Poland
Employees

n/a

Website

frozenway.games

Financials

Last FY Revenue $3.6M

Last FY EBITDA $1.4M

EV

$8.9M

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Frozen Way Financials

In the most recent fiscal year, Frozen Way achieved revenue of $3.6M and an EBITDA of $1.4M.

Frozen Way expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Frozen Way P&L

NTM Last FY FY 2025 FY 2026 FY 2027
Revenue XXX $3.6M XXX XXX XXX
Gross Profit XXX $4.8M XXX XXX XXX
Gross Margin XXX 135% XXX XXX XXX
EBITDA XXX $1.4M XXX XXX XXX
EBITDA Margin XXX 40% XXX XXX XXX
EBIT XXX $1.3M XXX XXX XXX
EBIT Margin XXX 35% XXX XXX XXX
Net Profit XXX $1.3M XXX XXX XXX
Net Margin XXX 36% XXX XXX XXX
Net Debt XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

Frozen Way Stock Performance

As of May 30, 2025, Frozen Way's stock price is PLN 40 (or $11).

Frozen Way has current market cap of PLN 42.6M (or $11.3M), and EV of PLN 33.6M (or $8.9M).

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Frozen Way Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$8.9M $11.3M XXX XXX XXX XXX n/a

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Frozen Way Valuation Multiples

As of May 30, 2025, Frozen Way has market cap of $11.3M and EV of $8.9M.

Frozen Way's trades at 2.5x EV/Revenue multiple, and 6.2x EV/EBITDA.

Equity research analysts estimate Frozen Way's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Frozen Way's P/E ratio is not available.

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Frozen Way Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $11.3M XXX $11.3M XXX XXX XXX
EV (current) $8.9M XXX $8.9M XXX XXX XXX
EV/Revenue n/a XXX 2.5x XXX XXX XXX
EV/EBITDA n/a XXX 6.2x XXX XXX XXX
EV/EBIT n/a XXX 7.1x XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E n/a XXX 8.8x XXX XXX XXX
EV/FCF n/a XXX 13.7x XXX XXX XXX

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Frozen Way Margins & Growth Rates

Frozen Way's revenue per employee in the last FY averaged n/a, while opex per employee averaged n/a for the same period.

Frozen Way's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Frozen Way's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Frozen Way Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth n/a XXX n/a XXX XXX XXX
EBITDA Margin n/a XXX 40% XXX XXX XXX
EBITDA Growth n/a XXX n/a XXX XXX XXX
Rule of 40 n/a XXX n/a XXX XXX XXX
Bessemer Rule of X XXX XXX n/a XXX XXX XXX
Revenue per Employee XXX XXX n/a XXX XXX XXX
Opex per Employee XXX XXX n/a XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 99% XXX XXX XXX

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Frozen Way Public Comps

See public comps and valuation multiples for Gaming - Console & PC comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Azerion Group XXX XXX XXX XXX XXX XXX
PlaySide Studios XXX XXX XXX XXX XXX XXX
Trophy Games XXX XXX XXX XXX XXX XXX
Remedy Entertainment XXX XXX XXX XXX XXX XXX
Boyaa Interactive XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Frozen Way M&A and Investment Activity

Frozen Way acquired  XXX companies to date.

Last acquisition by Frozen Way was  XXXXXXXX, XXXXX XXXXX XXXXXX . Frozen Way acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Frozen Way

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Frozen Way

Where is Frozen Way headquartered? Frozen Way is headquartered in Poland.
Is Frozen Way publicy listed? Yes, Frozen Way is a public company listed on WAR.
What is the stock symbol of Frozen Way? Frozen Way trades under FRW ticker.
When did Frozen Way go public? Frozen Way went public in 2023.
Who are competitors of Frozen Way? Similar companies to Frozen Way include e.g. Azerion Group, PlaySide Studios, Trophy Games, Remedy Entertainment.
What is the current market cap of Frozen Way? Frozen Way's current market cap is $11.3M
Is Frozen Way profitable? Yes, Frozen Way is EBITDA-positive (as of the last 12 months).

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