Consumer Discretionary - Leisure & Entertainment / Tabletop Gaming
Strategic Profile
In fiscal year 2025, Games Workshop's revenue was £617.50 million, an increase of 17.46%, with earnings up 29.78%. The company delivered double-digit growth across all segments, with licensing revenue up 77%, driven by strong IP monetization and video game success. Games Workshop operates over 460 owned stores worldwide, leveraging a capital-efficient model with high margins.
Cyborg Score Rationale
Strong financial performance with 17.46% revenue growth and 29.78% earnings growth in FY2025. Market cap grew 16.14% to £5.46B. High net profit margin of 31.7% and gross margin of 72.25% demonstrate operational excellence.
Top Insights
Licensing revenue surged 77% YoY, indicating successful IP expansion beyond core miniatures business
Joined FTSE 100 index recently, reflecting elevated market recognition and quality positioning
Games Workshop recovered from Trump tariff impact (£6m hit) while maintaining record profitability
Capital-efficient model with high margins (31.7% net, 72.25% gross) and low debt (15.6% debt-to-equity)
Named Competitors
Warhammer Age of Sigmar — Fantasy battle gaming system
Necromunda — Skirmish-level sci-fi tabletop game
Pathfinder — Fantasy RPG and tabletop gaming
Magic: The Gathering — Trading card game
Recent Developments
(February 2026) Shares trading at 16,660p with market cap of £5.49B
(January 2026) Analyst consensus 'Buy' with average price target of 19,616p (+15.32% upside)
(November 2025) Announced profit-sharing payments to all staff members on equal basis
(August 2025) Fiscal year 2025 results showing record revenues of £617.5M and earnings of £196.1M
Open the full interactive Games Workshop Group PLC report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.