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- Ice Code Games
Ice Code Games Valuation Multiples
Discover revenue and EBITDA valuation multiples for Ice Code Games and similar public comparables like Frozen Way, Vivid Games, Sonka, Beyond Frames and more.
Ice Code Games Overview
About Ice Code Games
Ice Code Games SA is engaged in the business of gaming. Its offers two games including Re-Legion and Deep Blue.
Founded
2000
HQ

Employees
6
Website
Sectors
Financials (FY)
EV
$12M
Ice Code Games Financials
Ice Code Games reported last fiscal year revenue of $1M and negative EBITDA of ($83K).
In the same fiscal year, Ice Code Games generated $1M in gross profit, ($83K) in EBITDA losses, and had net loss of ($404K).
Ice Code Games P&L
In the most recent fiscal year, Ice Code Games reported revenue of $1M and EBITDA of ($83K).
Ice Code Games expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | — | XXX | $1M | XXX | XXX | XXX |
| Gross Profit | — | XXX | $1M | XXX | XXX | XXX |
| Gross Margin | — | XXX | 100% | XXX | XXX | XXX |
| EBITDA | — | XXX | ($83K) | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | (8%) | XXX | XXX | XXX |
| EBIT Margin | — | XXX | (13%) | XXX | XXX | XXX |
| Net Profit | — | XXX | ($404K) | XXX | XXX | XXX |
| Net Margin | — | XXX | (40%) | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Ice Code Games Stock Performance
Ice Code Games has current market cap of $12M, and enterprise value of $12M.
Market Cap Evolution
Ice Code Games' stock price is $0.06.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $12M | $12M | -0.3% | XXX | XXX | XXX | $-0.00 |
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Start Free TrialIce Code Games Valuation Multiples
Ice Code Games trades at 11.5x EV/Revenue multiple, and (139.5x) EV/EBITDA.
Ice Code Games Financial Valuation Multiples
As of April 5, 2026, Ice Code Games has market cap of $12M and EV of $12M.
Equity research analysts estimate Ice Code Games' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Ice Code Games has a P/E ratio of (28.5x).
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $12M | XXX | $12M | XXX | XXX | XXX |
| EV (current) | $12M | XXX | $12M | XXX | XXX | XXX |
| EV/Revenue | — | XXX | 11.5x | XXX | XXX | XXX |
| EV/EBITDA | — | XXX | (139.5x) | XXX | XXX | XXX |
| EV/EBIT | — | XXX | (88.8x) | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 11.5x | XXX | XXX | XXX |
| P/E | — | XXX | (28.5x) | XXX | XXX | XXX |
| EV/FCF | — | XXX | (26.3x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Ice Code Games Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.


Ice Code Games Margins & Growth Rates
Ice Code Games' revenue in the last fiscal year declined by (47%).
Ice Code Games' revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Ice Code Games Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | — | XXX | (47%) | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | (8%) | XXX | XXX | XXX |
| EBITDA Growth | — | XXX | (97%) | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 113% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Ice Code Games Public Comps
See public comps and valuation multiples for other Gaming - Console & PC comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Frozen Way | XXX | XXX | XXX | XXX | XXX | XXX |
| Vivid Games | XXX | XXX | XXX | XXX | XXX | XXX |
| Sonka | XXX | XXX | XXX | XXX | XXX | XXX |
| Beyond Frames | XXX | XXX | XXX | XXX | XXX | XXX |
| Gaming Factory | 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.
Ice Code Games M&A Activity
Ice Code Games acquired XXX companies to date.
Last acquisition by Ice Code Games was on XXXXXXXX, XXXXX. Ice Code Games acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Ice Code Games
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialIce Code Games Investment Activity
Ice Code Games invested in XXX companies to date.
Ice Code Games made its latest investment on XXXXXXXX, XXXXX. Ice Code Games invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Ice Code Games
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Ice Code Games
| When was Ice Code Games founded? | Ice Code Games was founded in 2000. |
| Where is Ice Code Games headquartered? | Ice Code Games is headquartered in Poland. |
| How many employees does Ice Code Games have? | As of today, Ice Code Games has over 6 employees. |
| Is Ice Code Games publicly listed? | Yes, Ice Code Games is a public company listed on Warsaw Stock Exchange. |
| What is the stock symbol of Ice Code Games? | Ice Code Games trades under ICG ticker. |
| When did Ice Code Games go public? | Ice Code Games went public in 2007. |
| Who are competitors of Ice Code Games? | Ice Code Games main competitors are Frozen Way, Vivid Games, Sonka, Beyond Frames. |
| What is the current market cap of Ice Code Games? | Ice Code Games' current market cap is $12M. |
| What is the current revenue of Ice Code Games? | Ice Code Games' last fiscal year revenue is $1M. |
| What is the current EV/Revenue multiple of Ice Code Games? | Current revenue multiple of Ice Code Games is 11.5x. |
| Is Ice Code Games profitable? | No, Ice Code Games is not profitable. |
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