1. Poland Stocks

  2. •

    Technology

  3. •

    Electronic Gaming & Multimedia
Ten Square Games S.A.

Ten Square Games S.A.

TEN.WA
Ten Square Games S.A.PL flagWarsaw Stock Exchange
93.90
PLN
-1.00
- -
597.47MMarket Cap
Ten Square Games S.A.
TEN.WA
(Warsaw Stock Exchange)

Recent

price

93.90

P/E

ratio

- -

div

yld

- -

ROIC.AI

2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
3.75
15.84
33.31
79.75
87.14
73.55
59.45
55.94
55.88
56.69
Revenue per Share
1.17
5.01
10.55
20.91
19.41
7.06
2.07
9.71
11.88
9.83
Basic EPS, GAAP
1
5.43
8.7
26.2
24.19
13.45
15.1
15.87
14.65
13.05
Free Cash Flow per Basic Share
0.4
0.87
3.77
3.78
9.99
9.89
7.13
- -
15.45
- -
Dividend per Share
1.48
5.47
12.42
29.53
38.85
35.56
30.23
24.61
22.1
24.31
Book Value per Share
1.39
5.48
12.26
32.19
11.48
10.02
15.74
11.36
9.91
12.51
Tangible Book Value per Share
7
7
7
7
7
7
7
7
6
6
Basic Weighted Avg Shares
27
115
241
578
634
538
436
386
362
364
Sales/Revenue/Turnover
40.19
39.04
35.49
29.71
26.81
22.54
20.43
20.33
24.7
20.43
Operating Margin (%)
1
1
1
3
8
16
20
17
13
13
Depreciation Expense
8
36
76
152
141
52
15
67
77
63
Net Income, GAAP
17.8
18.68
9.74
11.32
12.79
17.71
10.8
9.48
10.11
11.42
Effective Tax Rate (%)
31.12
31.64
31.68
26.22
22.28
9.59
3.49
17.36
21.27
17.34
Profit Margin (%)
10
40
88
229
117
94
105
62
33
49
Working Capital
- -
- -
- -
7
9
5
1
6
3
3
LT Debt
12
42
92
238
351
340
291
243
220
238
Total Equity
- -
116.2
104.25
85.24
46.2
26.75
23.18
23.8
30.62
23.31
Return on Invested Capital (%)
- -
144.53
117.79
97.12
56.52
20.12
8.35
34.53
47.94
36.08
Return on Capital (%)
- -
144.54
117.79
99.74
56.87
19.02
6.31
34.25
49.16
35.8
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
2
3
3
LT Borrowings
- -
- -
- -
LT Finance Leases
4
3
3
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
6
6
6
Market Capitalization
548
584
639

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
159
179
196
Cash, Cash Equivalents & STI
107
120
137
Accounts Receivable, Net
29
33
35
Inventories
- -
- -
- -
Total Current Liabilities
139
146
147
Payables & Accruals
- -
- -
- -
ST Debt
2
3
3
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
0.82%
-9.41%
Free Cash Flow
- -
-10.66%
-13.44%
Net Income, GAAP
- -
43%
14.74%
Sales/Revenue/Turnover
- -
-8.43%
-6.35%
Total Cash Common Dividend
- -
- -
91.26%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
100
98
94
94
386
2025
97
84
90
90
362
2026
99
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.45
- -
1.7
- -
9.71
2025
4.24
- -
2.8
- -
11.88
2026
2.1
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
15.45
2026
- -
- -
- -
- -
- -
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Business
Ten Square Games S.A. (TEN.WA) develops and publishes free-to-play mobile games focused on casual gaming, primarily targeting a global audience of mobile gamers with hyper-casual and hybrid-casual titles. The company offers core products including hit titles such as Fishing Clash, which features realistic fishing simulations with competitive multiplayer elements; Hunting Clash, a hunting-themed game with advanced graphics and social features; and other portfolio games like Horse Ride, Pyramid Jump, and Jump Clash, all distributed through app stores including Google Play and Apple App Store. Its services encompass game development using proprietary technologies for cross-platform play, live operations for ongoing content updates and monetization via in-app purchases, and data-driven optimization for user acquisition and retention. Founded in 2011 and headquartered in Wroclaw, Poland, Ten Square Games operates primarily in Europe with expanding presence in North America and Asia, serving individual players aged 18-45 through digital platforms without physical retail. The company segments its business into hunting/fishing simulators and lighter hyper-casual games, leveraging a studio model with in-house teams for rapid prototyping and global launches. In recent developments, Ten Square Games reported steady revenue growth in 2024-2025 from core titles amid a strategic shift toward hybrid-casual expansions, including enhancements to Fishing Clash with new AR features and seasonal events; no major acquisitions or funding rounds occurred in the last two years, but the company announced partnerships with advertising networks for improved monetization in Q3 2025 and launched two new prototype games in beta testing for 2026 release. It maintains a lean structure without notable subsidiaries or parent entities, focusing on organic growth and cost efficiencies post-2023 market adjustments in mobile gaming.