Prime Bit Games (WSE:PBT) - Share price, News & Analysis

PBT fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	3/6
Financial Health	3/6
Dividends	0/6

PBT Stock Overview

Prime Bit Games S.A. designs, creates, and publishes mobile, computer, console, and browser games in Poland and internationally.

Rewards

Price-To-Earnings ratio (12.6x) is below the Entertainment industry average (15.4x)

Became profitable this year

Risk Analysis

Highly volatile share price over the past 3 months

High level of non-cash earnings

Makes less than USD$1m in revenue (PLN1M)

Does not have a meaningful market cap (PLN3M)

Prime Bit Games Competitors

Polyslash Spólka Akcyjna

WSE:PSH

zł8.3m

Duality

WSE:DUA

zł17.5m

Examobile

WSE:EXA

zł11.7m

United Label Spólka Akcyjna

WSE:UNL

zł22.7m

Price History & Performance

Summary of all time highs, changes and price drops for Prime Bit Games
Historical stock prices
Current Share Price	zł0.43
52 Week High	zł0.89
52 Week Low	zł0.28
Beta	1.48
1 Month Change	2.38%
3 Month Change	-0.92%
1 Year Change	-38.57%
3 Year Change	-41.10%
5 Year Change	n/a
Change since IPO	-75.15%

Shareholder Returns

	PBT	PL Entertainment	PL Market
7D	5.7%	4.7%	-2.1%
1Y	-38.6%	-42.5%	-23.4%

Return vs Industry: PBT exceeded the Polish Entertainment industry which returned -42.5% over the past year.

Return vs Market: PBT underperformed the Polish Market which returned -23.4% over the past year.

Price Volatility

Is PBT's price volatile compared to industry and market?
PBT volatility
PBT Average Weekly Movement	16.0%
Entertainment Industry Average Movement	7.2%
Market Average Movement	6.6%
10% most volatile stocks in PL Market	12.0%
10% least volatile stocks in PL Market	4.2%

Stable Share Price: PBT is more volatile than 90% of Polish stocks over the past 3 months, typically moving +/- 16% a week.

Volatility Over Time: PBT's weekly volatility (16%) has been stable over the past year, but is still higher than 75% of Polish stocks.

About the Company

Founded	Employees	CEO	Website
n/a	9	Michal Reczkowicz	https://www.primebitgames.com

Prime Bit Games S.A. designs, creates, and publishes mobile, computer, console, and browser games in Poland and internationally. It creates applications and games for Android, Windows phone, and iOS mobile platforms, as well as specializes in the field of artistic graphics, including games, comics, and animations and usable graphics videos. The company offers games under the Freddy Adventure, Inside Grass, Magic Nations, Dark Tower, Caveman Chuck, Bouncy Birds Pro, Icy Jump, and Goblin Racer names.

Prime Bit Games Fundamentals Summary

How do Prime Bit Games's earnings and revenue compare to its market cap?
PBT fundamental statistics
Market Cap	zł2.81m
Earnings (TTM)	zł223.08k
Revenue (TTM)	zł1.04m

12.6x

P/E Ratio

2.7x

P/S Ratio

Is PBT overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PBT income statement (TTM)
Revenue	zł1.04m
Cost of Revenue	zł151.71k
Gross Profit	zł891.15k
Other Expenses	zł668.07k
Earnings	zł223.08k

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 15, 2022

Earnings per share (EPS)	0.034
Gross Margin	85.45%
Net Profit Margin	21.39%
Debt/Equity Ratio	41.4%

How did PBT perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is PBT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PBT?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for PBT. This is calculated by dividing PBT's market cap by their current preferred multiple.
What is PBT's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	zł2.81m

PBT key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.5x
Enterprise Value/EBITDA	4.6x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does PBT's PE Ratio compare to its peers?

PBT PE Ratio vs Peers

The above table shows the PE ratio for PBT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	32.8x
PSH Polyslash Spólka Akcyjna	79.1x	n/a	zł8.3m
DUA Duality	38.4x	n/a	zł17.5m
EXA Examobile	8.8x	n/a	zł11.7m
UNL United Label Spólka Akcyjna	5x	n/a	zł22.7m
PBT Prime Bit Games	12.6x	n/a	zł2.8m

Price-To-Earnings vs Peers: PBT is good value based on its Price-To-Earnings Ratio (12.6x) compared to the peer average (32.8x).

Price to Earnings Ratio vs Industry

How does PBT's PE Ratio compare vs other companies in the PL Entertainment Industry?

Price-To-Earnings vs Industry: PBT is good value based on its Price-To-Earnings Ratio (12.6x) compared to the Polish Entertainment industry average (15.4x)

Price to Earnings Ratio vs Fair Ratio

What is PBT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PBT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.6x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PBT's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of PBT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate PBT's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate PBT's fair value for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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Future Growth

How is Prime Bit Games forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

22.8%

Forecasted Media industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Prime Bit Games has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

Take a look at our analysis of PBT’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
Prime Bit Games competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Prime Bit Games performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-34.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PBT has a high level of non-cash earnings.

Growing Profit Margin: PBT became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: PBT has become profitable over the past 5 years, growing earnings by -34.3% per year.

Accelerating Growth: PBT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: PBT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Entertainment industry (41.4%).

Return on Equity

High ROE: PBT's Return on Equity (31%) is considered high.

Discover strong past performing companies

Financial Health

How is Prime Bit Games's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: PBT's short term assets (PLN1.1M) do not cover its short term liabilities (PLN1.5M).

Long Term Liabilities: PBT's short term assets (PLN1.1M) exceed its long term liabilities (PLN68.5K).

Debt to Equity History and Analysis

Debt Level: PBT has more cash than its total debt.

Reducing Debt: Insufficient data to determine if PBT's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: PBT's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: PBT's interest payments on its debt are well covered by EBIT (920.4x coverage).

Balance Sheet

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Dividend

What is Prime Bit Games's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate PBT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PBT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PBT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PBT's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PBT has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average board tenure

CEO

Michal Reczkowicz

no data

Tenure

Michal Reczkowicz serves as the Chairman of the Management Board at Prime Bit Games S.A.

Board Members

Experienced Board: PBT's board of directors are considered experienced (3 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/06 00:00
End of Day Share Price	2022/08/05 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31