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CreativeForge Games

BST:19F
Snowflake Description

Adequate balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
19F
BST
PLN32M
Market Cap
  1. Home
  2. DE
  3. Media
Company description

CreativeForge Games S.A. operates game development studio in Warsaw, Poland. The last earnings update was 55 days ago. More info.


Add to Portfolio Compare Print
  • CreativeForge Games has significant price volatility in the past 3 months.
19F Share Price and Events
7 Day Returns
-3.5%
BST:19F
2.8%
DE Entertainment
-2.7%
DE Market
1 Year Returns
-22.8%
BST:19F
-12.3%
DE Entertainment
-20.4%
DE Market
19F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CreativeForge Games (19F) -3.5% -24% -19.8% -22.8% - -
DE Entertainment 2.8% -16.9% -29.4% -12.3% -10% 23.9%
DE Market -2.7% -18.4% -26.7% -20.4% -25.9% -30.4%
1 Year Return vs Industry and Market
  • 19F underperformed the Entertainment industry which returned -12.3% over the past year.
  • 19F underperformed the Market in Germany which returned -20.4% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is CreativeForge Games undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of CreativeForge Games to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for CreativeForge Games.

BST:19F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BST:19F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.5%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.95
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.954 (1 + (1- 19%) (9.25%))
1.017
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.017 * 6.51%)
6.23%

Discounted Cash Flow Calculation for BST:19F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CreativeForge Games is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BST:19F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 6.23%)
2020 3.60 Est @ 66.92% 3.39
2021 5.29 Est @ 46.73% 4.68
2022 7.01 Est @ 32.59% 5.85
2023 8.60 Est @ 22.7% 6.75
2024 9.96 Est @ 15.77% 7.36
2025 11.04 Est @ 10.92% 7.68
2026 11.87 Est @ 7.53% 7.78
2027 12.49 Est @ 5.15% 7.70
2028 12.92 Est @ 3.49% 7.50
2029 13.22 Est @ 2.33% 7.22
Present value of next 10 years cash flows PLN65.00
BST:19F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= PLN13.22 × (1 + -0.39%) ÷ (6.23% – -0.39%)
PLN198.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN198.95 ÷ (1 + 6.23%)10
PLN108.71
BST:19F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN65.00 + PLN108.71
PLN173.71
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN173.71 / 2.67
PLN65.13
BST:19F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:19F represents 0.19256x of WSE:CFG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.19256x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (PLN) x Listing Adjustment Factor
= PLN 65.13 x 0.19256
€12.54
Value per share (EUR) From above. €12.54
Current discount Discount to share price of €2.33
= -1 x (€2.33 - €12.54) / €12.54
81.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price CreativeForge Games is available for.
Intrinsic value
>50%
Share price is €2.33 vs Future cash flow value of €12.54
Current Discount Checks
For CreativeForge Games to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CreativeForge Games's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CreativeForge Games's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for CreativeForge Games's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CreativeForge Games's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:19F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in PLN PLN-0.05
WSE:CFG Share Price ** WSE (2020-04-02) in PLN PLN12.1
Germany Entertainment Industry PE Ratio Median Figure of 5 Publicly-Listed Entertainment Companies 28.34x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of CreativeForge Games.

BST:19F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:CFG Share Price ÷ EPS (both in PLN)

= 12.1 ÷ -0.05

-235.12x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CreativeForge Games is loss making, we can't compare its value to the DE Entertainment industry average.
  • CreativeForge Games is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does CreativeForge Games's expected growth come at a high price?
Raw Data
BST:19F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -235.12x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Entertainment Industry PEG Ratio Median Figure of 31 Publicly-Listed Entertainment Companies 1.56x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for CreativeForge Games, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on CreativeForge Games's assets?
Raw Data
BST:19F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in PLN PLN2.70
WSE:CFG Share Price * WSE (2020-04-02) in PLN PLN12.1
Germany Entertainment Industry PB Ratio Median Figure of 15 Publicly-Listed Entertainment Companies 1.02x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
BST:19F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:CFG Share Price ÷ Book Value per Share (both in PLN)

= 12.1 ÷ 2.70

4.49x

* Primary Listing of CreativeForge Games.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CreativeForge Games is overvalued based on assets compared to the DE Entertainment industry average.
X
Value checks
We assess CreativeForge Games's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Entertainment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Entertainment industry average (and greater than 0)? (1 check)
  5. CreativeForge Games has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is CreativeForge Games expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 CreativeForge 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
29.5%
Expected Entertainment industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CreativeForge Games expected to grow at an attractive rate?
  • Unable to compare CreativeForge Games's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare CreativeForge Games's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare CreativeForge Games's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BST:19F Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 29.5%
Germany Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BST:19F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:19F Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-12-31 3 2 0
2019-09-30 4 2 0
2019-06-30 3 -1 -1
2019-03-31 3 -2 -1
2018-12-31 3 -3 -1
2018-09-30 1 -4 -1
2018-06-30 1 -4 -1
2018-03-31 1 -3 -1
2017-12-31 1 -3 -2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if CreativeForge Games is high growth as no earnings estimate data is available.
  • Unable to determine if CreativeForge Games is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BST:19F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from CreativeForge Games Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:19F Past Financials Data
Date (Data in PLN Millions) EPS *
2019-12-31 -0.05
2019-09-30 -0.17
2019-06-30 -0.28
2019-03-31 -0.31
2018-12-31 -0.33
2018-09-30 -0.27
2018-06-30 -0.24
2018-03-31 -0.25
2017-12-31 -1.12

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if CreativeForge Games will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine CreativeForge Games's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. CreativeForge Games's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Media companies here
  3. CreativeForge Games's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess CreativeForge Games's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CreativeForge Games has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has CreativeForge Games performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare CreativeForge Games's growth in the last year to its industry (Entertainment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CreativeForge Games does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare CreativeForge Games's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare CreativeForge Games's 1-year growth to the DE Entertainment industry average as it is not currently profitable.
Earnings and Revenue History
CreativeForge Games's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from CreativeForge Games Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:19F Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 3.27 -0.14 1.51
2019-09-30 3.72 -0.45 2.00
2019-06-30 3.10 -0.75 2.85
2019-03-31 3.07 -0.83 3.74
2018-12-31 2.63 -0.87 3.78
2018-09-30 1.03 -0.72 3.58
2018-06-30 0.63 -0.64 3.71
2018-03-31 0.91 -0.67 3.54
2017-12-31 1.13 -2.25 3.68
2016-12-31 2.37 -0.55 2.58

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if CreativeForge Games has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if CreativeForge Games has efficiently used its assets last year compared to the DE Entertainment industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if CreativeForge Games improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess CreativeForge Games's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Entertainment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CreativeForge Games has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is CreativeForge Games's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up CreativeForge Games's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CreativeForge Games is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • CreativeForge Games's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CreativeForge Games's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from CreativeForge Games Company Filings, last reported 3 months ago.

BST:19F Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 7.19 2.99 3.44
2019-09-30 7.15 2.98 2.89
2019-06-30 7.16 5.72 4.86
2019-03-31 7.28 5.92 4.82
2018-12-31 7.33 6.46 5.22
2018-09-30 7.69 7.88 5.79
2018-06-30 8.00 7.85 6.88
2018-03-31 8.77 2.30 8.16
2017-12-31 0.86 2.30 1.58
2016-12-31 3.11 0.00 1.70
  • CreativeForge Games's level of debt (41.5%) compared to net worth is high (greater than 40%).
  • Unable to establish if CreativeForge Games's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making CreativeForge Games has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making CreativeForge Games has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -63% per year.
X
Financial health checks
We assess CreativeForge Games's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. CreativeForge Games has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from CreativeForge Games dividends.
If you bought €2,000 of CreativeForge Games shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate CreativeForge Games's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate CreativeForge Games's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BST:19F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 1.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as CreativeForge Games has not reported any payouts.
  • Unable to verify if CreativeForge Games's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of CreativeForge Games's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as CreativeForge Games has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess CreativeForge Games's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CreativeForge Games afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CreativeForge Games has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of CreativeForge Games's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Piotr Karbowski
TENURE AS CEO 1.2 years
CEO Bio

Mr. Piotr Karbowski has been Chairman of the Management Board at CreativeForge Games S.A. since February 22, 2019.

CEO Compensation
  • Insufficient data for Piotr to compare compensation growth.
  • Insufficient data for Piotr to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Piotr Karbowski

TITLE
Chairman of the Management Board
TENURE
1.2 yrs
Board of Directors

Grzegorza Czarneckiego

TITLE
Chairman of the Supervisory Board

Radoslaw Mrowinski

TITLE
Member of the Supervisory Board

Szymon Daszkiewicz

TITLE
Member of the Supervisory Board

Michal Kojecki

TITLE
Member of the Supervisory Board

Krzysztof Kostowski

TITLE
Member of the Supervisory Board
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess CreativeForge Games's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. CreativeForge Games has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

CreativeForge Games S.A. operates game development studio in Warsaw, Poland. It offers games under the Phantom Doctrine, Hard West, and Ancient Space names. The company was founded in 2011 and is headquartered in Warsaw, Poland.

Details
Name: CreativeForge Games S.A.
19F
Exchange: BST
Founded: 2011
PLN7,062,601
2,667,000
Website: http://www.creativeforge.pl
Address: CreativeForge Games S.A.
ul. Aleja Komisji Edukacji Narodowej 95,
Warsaw,
02-777,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE CFG Ordinary Shares Warsaw Stock Exchange PL PLN 25. May 2018
BST 19F Ordinary Shares Boerse-Stuttgart DE EUR 25. May 2018
Number of employees
Current staff
Staff numbers
0
CreativeForge Games employees.
Industry
Interactive Home Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/02 23:28
End of day share price update: 2020/04/02 00:00
Last earnings filing: 2020/02/07
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.