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CD Projekt S.A. (CDR.WA)
PLN231.60
+0.60 (+0.26%)
PL WSE Technology Electronic Gaming & Multimedia
Address
ul. Jagiellonska 74 03-301
Warsaw, PL
Warsaw, PL
CEO
Adam Konrad Badowski
Website
cdprojekt.com
IPO
2000-01-03
ISIN PLOPTTC00011
Also trades on
Berlin Stock Exchange · 7CD.BE (EUR)
Frankfurt Stock Exchange · 7CD.F (EUR)
Other OTC · OTGLF (USD)
Other OTC · OTGLY (USD)
Warsaw Stock Exchange · CDR.WA (PLN)
Description
CD Projekt S.A., alongside its affiliated companies, operates as a global entity specializing in the creation, publication, and digital distribution of video games for both personal computers and consoles. The company organizes its operations into two main divisions: CD PROJEKT RED and GOG.com. Its distinguished portfolio of titles includes the entire Witcher saga – encompassing The Witcher, The Witcher 2: Assassins of Kings, The Witcher 3: Wild Hunt, Thronebreaker: The Witcher Tales, and Gwent: The Witcher Card Game – as well as the critically acclaimed Cyberpunk 2077. Furthermore, CD Projekt S.A. facilitates the sale and delivery of digital games through its proprietary GOG.com distribution platform and the GOG GALAXY application. The firm extends its market reach across Europe, North America, South America, Asia, Australia, and Africa. Established in 2001, CD Projekt S.A. is headquartered in Warsaw, Poland.
Market Cap & Enterprise Value
Merger & Acquisition History
No mergers or acquisitions recorded for this company.
Technical Outlook
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Signal Summary
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| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
PLN231.60
+0.60 (+0.26%)
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Volume Profile
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Liquidity & share structure
Average Volume
386.9K
Beta
0.40
Float Shares
64.96M
Free Float %
65.0%
Price Performance
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| +1.93% | -10.54% | -15.60% | -4.16% | -9.28% | -3.77% | +5.01% | +91.91% | +37.85% | +766.62% | +4.47% |
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From
To
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow
Revenue by geography
Revenue by segment
From
To
Revenue composition
From
To
By product
By geography
Financial Statements
Select metrics from the tables below to build your comparison.
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
Price Targets & DCF
Current price
231.60
DCF (Unlevered)
158.01
-31.8%
DCF (Levered)
264.51
+14.2%
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
Ratings Trend (MoM)
31% Bullish
| Rating | 2026-05 | Change |
|---|---|---|
| Strong Buy | 1 | 0 |
| Buy | 4 | 0 |
| Hold | 3 | 0 |
| Sell | 6 | 0 |
| Strong Sell | 2 | 0 |
Quality scores
Altman Z-Score
61.67
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
4 / 5
High
ROE Score
4 / 5
High
ROA Score
5 / 5
High
D/E Score
4 / 5
High
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
-
Revenue growth Electronic Gaming & Multimedia: +4.1%-12.0% Q1'26: -15.6% (vs Q1'25)
-
EPS growth Electronic Gaming & Multimedia: +20.0%+11.5% Q1'26: +23.5% (vs Q1'25)
-
FCF margin FCF growth · Electronic Gaming & Multimedia: +41.4%+55.7% Q1'26: -9.0% (vs Q1'25)
-
EBIT margin Electronic Gaming & Multimedia: +10.3%+53.3% ★ Q1'26: +59.2% (vs Q1'25)
-
ROIC Electronic Gaming & Multimedia: +6.6%+16.7% ★ Q1'26: +14.9% (vs Q1'25)
-
Share dilution Electronic Gaming & Multimedia: +0.0%+0.4% Q1'26: 0.0% (vs Q1'25)
-
Debt / EBITDA Net debt/EBITDA · Electronic Gaming & Multimedia: -1.53×0.05× Q1'26: 0.04× (vs Q1'25)
Valuation Multiples
From
To
Price Forecast (3Y)
From
To
Theoretical Return — If Invested Today
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
Consensus Estimates
| Metric |
Dec 2015 actual |
Dec 2016 actual |
Dec 2017 actual |
Dec 2018 actual |
Dec 2019 actual |
Dec 2020 actual |
Dec 2021 actual |
Dec 2022 actual |
Dec 2023 actual |
Dec 2024 actual |
Dec 2025 actual |
Dec 2026 7 Rev. Ana. 6 EPS Ana. |
Dec 2027 12 Rev. Ana. 10 EPS Ana. |
Dec 2028 8 Rev. Ana. 4 EPS Ana. |
Dec 2029 7 Rev. Ana. 2 EPS Ana. |
Dec 2030 7 Rev. Ana. 2 EPS Ana. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
798.01M
est: 780.29M (+2.3%)
|
584.02M
est: 498.51M (+17.2%)
|
463.26M
est: 455.00M (+1.8%)
|
362.90M
est: 360.39M (+0.7%)
|
521.27M
est: 457.36M (+14.0%)
|
2.14B
est: 2.34B (-8.5%)
|
888.17M
est: 849.27M (+4.6%)
|
952.58M
est: 907.06M (+5.0%)
|
1.23B
est: 1.33B (-7.5%)
|
985.03M
est: 903.10M (+9.1%)
|
866.99M
est: 994.55M (-12.8%)
|
829.09M
794.78M – 851.40M
-16.6% YoY
|
2.72B
2.22B – 3.99B
+228.0% YoY
|
2.79B
2.67B – 2.91B
+2.6% YoY
|
4.51B
3.80B – 6.26B
+61.8% YoY
|
3.95B
3.33B – 5.49B
-12.4% YoY
|
| EBITDA |
521.89M
est: 404.77M (+28.9%)
|
348.31M
est: 258.60M (+34.7%)
|
252.32M
est: 236.03M (+6.9%)
|
139.68M
est: 186.95M (-25.3%)
|
227.20M
est: 237.25M (-4.2%)
|
1.44B
est: 1.21B (+18.3%)
|
329.12M
est: 440.55M (-25.3%)
|
514.32M
est: 470.52M (+9.3%)
|
553.33M
est: 673.78M (-17.9%)
|
553.95M
est: 457.58M (+21.1%)
|
529.51M
est: 503.92M (+5.1%)
|
420.08M
402.70M – 431.38M
-16.6% YoY
|
1.38B
1.13B – 2.02B
+228.0% YoY
|
1.41B
1.35B – 1.48B
+2.6% YoY
|
2.29B
1.93B – 3.17B
+61.8% YoY
|
2.00B
1.69B – 2.78B
-12.4% YoY
|
| EBIT |
421.63M
est: 295.63M (+42.6%)
|
311.95M
est: 188.87M (+65.2%)
|
247.42M
est: 172.39M (+43.5%)
|
123.05M
est: 136.54M (-9.9%)
|
189.75M
est: 173.28M (+9.5%)
|
1.17B
est: 885.98M (+31.6%)
|
221.91M
est: 321.76M (-31.0%)
|
393.70M
est: 343.66M (+14.6%)
|
539.36M
est: 500.68M (+7.7%)
|
431.15M
est: 340.02M (+26.8%)
|
462.28M
est: 374.46M (+23.5%)
|
312.16M
299.24M – 320.56M
-16.6% YoY
|
1.02B
836.26M – 1.50B
+228.0% YoY
|
1.05B
1.00B – 1.10B
+2.6% YoY
|
1.70B
1.43B – 2.36B
+61.8% YoY
|
1.49B
1.25B – 2.07B
-12.4% YoY
|
| Net Income |
342.43M
est: 391.56M (-12.5%)
|
250.51M
est: 245.98M (+1.8%)
|
200.27M
est: 197.77M (+1.3%)
|
109.33M
est: 108.78M (+0.5%)
|
175.32M
est: 142.50M (+23.0%)
|
1.15B
est: 1.30B (-11.0%)
|
208.91M
est: 202.60M (+3.1%)
|
347.09M
est: 324.62M (+6.9%)
|
481.11M
est: 560.89M (-14.2%)
|
469.87M
est: 454.82M (+3.3%)
|
526.83M
est: 515.85M (+2.1%)
|
302.33M
256.74M – 347.92M
-41.4% YoY
|
1.78B
929.92M – 1.88B
+489.0% YoY
|
1.23B
1.08B – 1.98B
-30.9% YoY
|
816.77M
649.47M – 1.23B
-33.6% YoY
|
—
— – —
-100.0% YoY
|
| SGA |
122.90M
est: 261.47M (-53.0%)
|
163.13M
est: 167.05M (-2.3%)
|
142.90M
est: 152.47M (-6.3%)
|
143.79M
est: 120.76M (+19.1%)
|
182.45M
est: 153.26M (+19.1%)
|
474.45M
est: 783.62M (-39.5%)
|
371.17M
est: 284.59M (+30.4%)
|
297.89M
est: 303.95M (-2.0%)
|
410.30M
est: 476.88M (-14.0%)
|
383.68M
est: 323.86M (+18.5%)
|
294.25M
est: 356.66M (-17.5%)
|
297.32M
285.02M – 305.32M
-16.6% YoY
|
975.16M
796.51M – 1.43B
+228.0% YoY
|
1.00B
955.85M – 1.04B
+2.6% YoY
|
1.62B
1.36B – 2.25B
+61.8% YoY
|
1.42B
1.19B – 1.97B
-12.4% YoY
|
| EPS |
3.61
est: 3.90 (-7.4%)
|
2.63
est: 2.45 (+7.4%)
|
2.08
est: 1.97 (+5.7%)
|
1.14
est: 1.08 (+5.3%)
|
1.82
est: 1.42 (+28.3%)
|
11.92
est: 12.90 (-7.6%)
|
2.07
est: 2.02 (+2.7%)
|
3.45
est: 3.14 (+10.0%)
|
4.80
est: 5.61 (-14.5%)
|
4.70
est: 3.38 (+39.1%)
|
5.28
est: 4.16 (+26.9%)
|
3.00
2.55 – 3.45
-27.9% YoY
|
12.18
9.22 – 18.69
+306.0% YoY
|
14.08
10.75 – 19.66
+15.6% YoY
|
8.10
6.44 – 12.18
-42.5% YoY
|
—
— – —
-100.0% YoY
|
Historical Ratings (3M)
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-29 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-28 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-27 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-26 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-25 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-22 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-21 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-20 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-19 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-18 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-15 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-14 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-13 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-12 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-11 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-08 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-07 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-06 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-05 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-05-04 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 1/5 |
| 2026-04-30 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 2/5 |
| 2026-04-29 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 2/5 |
| 2026-04-28 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 4/5 | 2/5 | 2/5 |
| 2026-04-27 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 3/5 | 2/5 | 2/5 |
| 2026-04-24 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 3/5 | 2/5 | 2/5 |
| 2026-04-23 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 3/5 | 2/5 | 2/5 |
| 2026-04-22 | A- | 4/5 | 4/5 | 4/5 | 5/5 | 3/5 | 2/5 | 2/5 |
| 2026-04-21 | B+ | 3/5 | 4/5 | 4/5 | 5/5 | 3/5 | 1/5 | 2/5 |
| 2026-04-20 | B+ | 3/5 | 4/5 | 4/5 | 5/5 | 3/5 | 1/5 | 2/5 |
| 2026-04-17 | B+ | 3/5 | 4/5 | 4/5 | 5/5 | 3/5 | 1/5 | 2/5 |
| 2026-04-16 | B+ | 3/5 | 4/5 | 4/5 | 5/5 | 3/5 | 1/5 | 2/5 |
| 2026-04-15 | B+ | 3/5 | 4/5 | 4/5 | 5/5 | 3/5 | 1/5 | 2/5 |
Owner Earnings
Owner's Earnings (history)
From
To
Owner alignment
Owner's Earnings TTM
213.82M
OE per share TTM
2.12
Owner's Yield
0.92%
Maintenance CapEx ratio
175.59%
Maint CapEx / Avg PPE
16.5%
Ownership Overview
Ownership breakdown
Ownership breakdown not available.
At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional ownership trend
Institutional history not available.
Top institutional holders
Top holders not available.
ETF Ownership
Top ETFs holding this stock
Held by 160 ETFs in our universe
| # | ETF | Weight | Est. AUM exposure | TER |
|---|---|---|---|---|
| 1 | Global X Video Games & Esports ETF HERO | 4.38% | 2.76M | 0.50% |
| 2 | VanEck Video Gaming and eSports ETF ESPO | 3.97% | 9.72M | 0.55% |
| 3 | VanEck Video Gaming and eSports UCITS ETF ESPO.L | 3.92% | 22.89M | 0.55% |
| 4 | iShares MSCI Poland UCITS ETF IPOL.L | 3.07% | 28.04M | 0.74% |
| 5 | iShares MSCI Poland ETF EPOL | 2.62% | 17.41M | 0.59% |
| 6 | Roundhill Video Games ETF NERD | 2.39% | 346.6K | 0.50% |
| 7 | Amundi PEA MSCI Emerging Latin America Selection UCITS ETF - Acc PALAT.PA | 0.97% | 2.95M | 0.30% |
| 8 | iShares STOXX Europe Small 200 UCITS ETF (DE) EXSE.DE | 0.57% | 3.93M | 0.20% |
| 9 | Invesco STOXX Europe 600 Optimised Personal & Household Goods UCITS ETF SC04.DE | 0.53% | 245.7K | 0.20% |
| 10 | iShares Digital Entertainment and Education UCITS ETF USD PLAY.AS | 0.47% | 321.0K | 0.40% |
Insider Activity
Insider Activity — Latest Quarter
No insider activity available.
Insider buys vs sells (history)
Insider history not available.
Recent insider transactions
No recent insider transactions.
Executive team
Top executives
EBIT / Employee
729.1K
Shares Outstanding
99.91M
Executive compensation
Executive compensation (annual)
Executive compensation not available.
CEO compensation breakdown
No CEO compensation history available.
Proxy statements
Proxy statements (DEF 14A)
No proxy statements available for this company yet.
Recent SEC filings
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Pawel Zawodny | Joint Chief Operating Officer & Member of the Management Board | 7M | male |
| Piotr Karwowski | Joint Chief Operating Officer & Member of the Management Board | 7M | male |
| Piotr Marcin Nielubowicz | Chief Financial Officer & Vice President of the Management Board | 7M | male |
| Jeremiah Cohn | Chief Marketing Officer & Member of Management Board | 7M | male |
| Adam Konrad Badowski | Co-CEO & Member of the Management Board | 7M | male |
| Michal Andrzej Nowakowski | Co-CEO & Member of the Management Board | 7M | male |
| Karolina Gnas | IR Director | — | female |
| Krystyna Cybulska | Chief Accountant | — | — |
| Karolina Radziszewska | Chief People Officer & Member of the Management Board | — | female |
| Marcin Piotr Iwinski | Co-Founder & Co-Chairman of Supervisory Board | — | male |
ESG Score History
No data available for this company.
Senate Trading Activity
No Senate trading activity found for this company.
House Trading Activity
No House trading activity found for this company.
Market share among peers
Peer comparison — filtered group (TTM)
Your opinion
Share your view on this stock and instantly see how the community has voted over the last 6 months.
Community Opinion for CDR.WA
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
