$GAW (-0,84 %)

🟢 Results

• Revenue:
  £659.7M (+6.8% YoY) ✅
• Core revenue:
  £626.8M (+10.9% YoY) ✅
• Operating profit:
  £275.0M (+5.2% YoY) ✅
• EPS:
  624.0p (+4.9% YoY) ✅
• Net cash:
  £182.9M (+38% YoY) ✅
• Dividend:
  485p/share ⚠️ (lower due to weaker licensing income)

📌 Key Takeaways

• Core Warhammer business continues delivering double-digit growth.
• Record cash position with zero debt and outstanding cash generation.
• Expansion continues with Factory 4 and a new logistics centre.
• Amazon partnership and future licensing deals remain long-term growth drivers.

💬 Management

CEO Kevin Rountree: Operations remain strong, with a focus on long-term growth, manufacturing expansion, product quality and IP protection, rather than short-term earnings optimization.

⚠️ Watchlist

• Licensing revenue remains volatile.
• Higher capex over the next few years.
• Retail growth is moderating, although stores remain highly profitable.

🎯 Bottom Line

A high-quality quarter that reinforces the long-term investment thesis. The core business is stronger than ever, margins remain exceptional, the balance sheet is pristine, and Games Workshop continues to be one of the highest-quality compounders in the market.

In this video, I give an updated review of Games Workshop stock (£GAW) using fundamental analysis. Is GAW stock a buy?

I go through Games Workshop's business summary, sales breakdown & financial statements to get an understanding of the business. After this, I go through my analysis checklist and then value Games Workshop stock using the discounted free cashflow method.

Games Workshop Group is a British manufacturer of miniature wargames, based in Nottingham, England. It's best-known products are Warhammer Age of Sigmar and Warhammer 40,000.

Founded in 1975, Games Workshop was originally a manufacturer of wooden boards for games including backgammon. It later became an importer of the U.S. role-playing game Dungeons & Dragons, and then a publisher of wargames and role-playing games in its own right, expanding from a bedroom mail-order company in the process. It expanded into in Europe, the US, Canada, and Australia in the early 1990s.

Games Workshop started promoting games associated with The Lord of the Rings film trilogy in 2001. It also owns Forge World (which makes complementary specialist resin miniatures and conversion kits). The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Please also remember to like and comment, if you enjoyed the video!

Subscribe to Lewis Harding Invest on YouTube.

https://youtu.be/eD_YbD3WH4U

In my latest video I analyse Games Workshop stock using fundamental analysis. Is $G7W (-0,84 %) stock a buy?

I go through Games Workshop's business summary, sales breakdown & financial statements to get an understanding of the business. After this, I go through my analysis checklist and then value Games Workshop stock using the discounted free cashflow method.

Games Workshop Group is a British manufacturer of miniature wargames, based in Nottingham, England. It's best-known products are Warhammer Age of Sigmar and Warhammer 40,000.

Founded in 1975, Games Workshop was originally a manufacturer of wooden boards for games including backgammon. It later became an importer of the U.S. role-playing game Dungeons & Dragons, and then a publisher of wargames and role-playing games in its own right, expanding from a bedroom mail-order company in the process. It expanded into in Europe, the US, Canada, and Australia in the early 1990s.

Games Workshop started promoting games associated with The Lord of the Rings film trilogy in 2001. It also owns Forge World (which makes complementary specialist resin miniatures and conversion kits). The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

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Please also remember to like and comment, if you enjoyed the video!

  ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

Subscribe to Lewis Harding Invest on YouTube.

  ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

https://youtu.be/nqJqxn1TU5Y

In my latest video, I go through 3 U.K. stocks to buy in a market crash. All of these companies have good fundamentals but look expensive on an earnings & FCF basis. $GUI (+1,85 %)
$G7W (-0,84 %)
$6WS (+4,15 %)

https://youtu.be/fNZwtfaKzR0