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CD Projekt S.A. CDR.WA

PL · Warsaw Stock Exchange · XWAR · stock · Communication Services · website

CD Projekt S.A. statistics & valuation

Market capzł 26.3B
P / E44.2×
P / S30.3×
P / B8.0×
Net margin68.6%
FCF margin-2.5%
Net cashzł 88.1M
Enterprise value USD$7.0B
Earnings yield EBIT/EV1.8%
Return on capital14%
Graham number -74.9%zł 66.12

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (zł 66.12); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
36.40% 39.10% 55.60% 68.60% 2022202320242025
Gross margin (%)
74.40% 69.30% 85.20% 90.90% 2022202320242025
Operating margin (%)
42.30% 36.80% 45.90% 53.60% 2022202320242025
Return on equity (%)
17.10% 20.00% 16.00% 18.10% 2022202320242025
Shares outstanding
99.9M 99.9M 99.9M 99.9M 2022202320242025
Net debt (zł )
-zł 249.4M -zł 104.7M -zł 88.1M 2022202320242025
Share buybacks (zł )
zł 100.0M zł 0 zł 0 zł 22.4M 2022202320242025
Return on assets (%)
15.20% 18.40% 14.70% 17.00% 2022202320242025
Free cash flow margin (%)
15.70% 22.80% 21.80% -2.50% 2022202320242025
Debt / equity (×)
0.01× 0.01× 0.01× 2022202320242025
EPS (zł )
zł 3.44 zł 4.80 zł 4.42 zł 5.90 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

CD Projekt S.A. trades at about 44.6× earnings — near its 10-year norm (10-year range 21.8×–47.8×, median 44×).

21.8× 47.8×

Shaded band = 10-year range (21.8×–47.8×); dot = today's 44.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin90.9%85.2%69.3%74.4%
Operating margin53.6%45.9%36.8%42.3%
Net margin68.6%55.6%39.1%36.4%
FCF margin-2.5%21.8%22.8%15.7%
Return on assets17.0%14.7%18.4%15.2%
Return on equity18.1%16.0%20.0%17.1%
Current ratio7.406.326.785.53

Computed from company filings · PL · as of 2024-12-31. Figures in PLN. Facts plus Stocktoria's own computed scores — not investment advice.