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    Electronic Gaming & Multimedia
PCF Group Spólka Akcyjna

PCF Group Spólka Akcyjna

PCF.WA
PCF Group Spólka AkcyjnaPL flagWarsaw Stock Exchange
3.59
PLN
+0.02
- -
128.84MMarket Cap
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.6
2.56
3.05
3.77
6.07
5.73
4.59
5.3
- -
5.41
Basic EPS, GAAP
0.51
0.58
0.18
0.89
2.07
0.62
-2.35
-4.85
- -
-3.34
Free Cash Flow per Basic Share
0.64
0.62
-0.07
0.33
1.07
1.98
0.37
0.06
- -
-0.25
Dividend per Share
- -
- -
0.18
- -
0.19
0.33
- -
- -
- -
- -
Book Value per Share
0.5
0.52
0.16
1.06
2.86
3.19
0.6
-4.31
- -
-7.54
Tangible Book Value per Share
0.9
1.62
1.72
2.6
5.87
3.08
6.37
2.95
- -
2.84
Basic Weighted Avg Shares
28
28
28
28
30
30
33
36
- -
37
Sales/Revenue/Turnover
44
70
84
104
180
171
150
190
200
200
Operating Margin (%)
42.29
26.25
6.32
20.78
32.39
18.19
-11.37
-9.68
-10.09
-10.09
Depreciation Expense
4
4
4
6
12
17
20
31
37
37
Net Income, GAAP
14
16
5
25
61
19
-77
-174
-123
-123
Effective Tax Rate (%)
21.54
17.27
0.47
7.8
4.83
27.77
- -
- -
- -
- -
Profit Margin (%)
31.77
22.63
5.75
23.69
34.04
10.89
-51.1
-91.6
-61.83
-61.83
Working Capital
23
43
45
67
164
93
177
37
36
36
LT Debt
1
1
1
9
26
31
25
19
12
12
Total Equity
30
49
52
77
260
278
428
251
139
139
Return on Invested Capital (%)
- -
35.66
10.06
27.77
28.54
7.24
- -
- -
- -
- -
Return on Capital (%)
- -
102.63
45.45
103.4
74.73
12.57
- -
- -
- -
- -
Return on Common Equity (%)
- -
113.87
51.62
146.61
107.73
20.71
-133.46
- -
- -
-339.71

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
36
34
33
LT Borrowings
- -
- -
- -
LT Finance Leases
15
14
12
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
36
43
43
Market Capitalization
189
121
145

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
105
117
101
Cash, Cash Equivalents & STI
11
35
23
Accounts Receivable, Net
77
70
15
Inventories
- -
- -
- -
Total Current Liabilities
90
94
65
Payables & Accruals
- -
- -
- -
ST Debt
36
34
33
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
42.83%
-44.74%
Free Cash Flow
- -
-69.23%
-516.69%
Net Income, GAAP
- -
-66.54%
-29.24%
Sales/Revenue/Turnover
- -
17.61%
4.83%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
35
34
43
39
150
2024
57
19
56
59
190
2025
63
52
37
48
200

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
-0.15
-0.29
-0.06
- -
-2.35
2024
-0.02
-0.9
- -
- -
-4.85
2025
-0.1
-0.48
-2.46
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
- -
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Sebastian Kamil Wojciechowski
Full Time Employees
756
Sector
Technology
Industry
Electronic Gaming & Multimedia
Address
Al. Solidarnosci 171 Warsaw Poland 00-877
IPO Date
Dec 1, 2020
Website
peoplecanfly.com
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Business
PCF Group Spólka Akcyjna, operating as People Can Fly, is a Poland-based video game developer specializing in AAA action-shooter titles for PC, PlayStation, Xbox consoles, and streaming platforms; the company produces and publishes owned intellectual properties including Painkiller, Bulletstorm, Gears of War: Judgment, Bulletstorm: Full Clip Edition, and Outriders, while also providing co-development services on partner franchises and expanding into virtual reality games through dedicated studios. Founded in 2002 and headquartered at Aleja Solidarności 171 in Warsaw, Poland, PCF Group maintains a network of studios across Europe, including Łódź in Poland and Newcastle in the United Kingdom, and North America, including New York and Chicago in the United States and Montreal in Canada; subsidiaries encompass entities such as People Can Fly Phosphor Studios and Incuvo Studios, supporting a workforce of approximately 716 employees focused on Unreal Engine-based development. The company operates in the interactive home entertainment industry, targeting global consumers with high-production-value shooters, RPG-shooters, and emerging VR experiences; revenue streams derive from custom game production, royalties on copyrights, and self-publishing of proprietary titles. In recent developments, PCF Group issued series H shares in September 2025 to bolster capital, entered a March 2025 prototype development agreement with Sony Interactive Entertainment for Project Delta under a work-for-hire model using Sony IP, advanced consortium agreements in October 2025 for financing Project IR's initial stage amid plans for approximately PLN 350 million in new funding during 2025-2026, and maintained ongoing partnerships including Krafton's 10% stake involvement in Projects Bifrost and Victoria while transitioning toward self-publishing; earlier expansions included acquisitions of Phosphor Studios, Game On, and Incuvo Studios in 2021, though the company suspended Project Victoria and conducted layoffs of roughly 150 employees in 2024 due to funding shortfalls.