Unity's 70% Market Share + Rock-Bottom Ratios = Asymmetric Win?Unity Software, Inc.BATS:UHenriqueCentieiroDear TradingView community, This is a volatile stock, but for me, it looks quite undervalued. It will continue to be very volatile so please be careful with this stock. The stock dropped a lot this year and now looks underpriced trading with a margin of safety that fits my tech deep value strategy. I have owned this stock in the past, and it added significant volatility to my portfolio. However, now, it looks significantly underpriced and worth to buy. Personally, I will allocated approximately 1% of my portfolio into it and DCA in case the price continues to drop. I plan to hold this thing for the long term. WHY UNITY? Unity is undergoing a significant turnaround under CEO Matt Bromberg (joined May 2024), transitioning from a troubled company to one showing improving fundamentals. The stock has declined ~65% over the past 3 months following weaker Q1 2026 guidance, creating a potential value opportunity. MY BULISH CASE Revenue growth: 4 consecutive quarters of growth, Q4 2025 revenue: $503.1M (+10% YoY) Adjusted EBITDA Q4: $125M (25% margin) - up from 23% in prior quarters EBITDA to FCF conversion: 99% (extremely efficient) Q4 2025 FCF shows continued strength Total debt: $2.24B (Debt-to-Equity: 0.69) Price to Book ratio: 2.5 (underpriced) EV/Revenue: 4.3x (potentially undervalued) Unity Vector platform revenue grew 53% in the first 3 quarters since launch 70-80% engine market share in the mobile gaming sector 70% of the top 1,000 mobile games were created with Unity 1.3M+ monthly active users on Unity Editor Transition to seat-based subscription model yielding double-digit growth 80% of Create revenue is now recurring (high-quality, predictable revenue) Price to sales ratio is at 4.3!! For value investors, this creates asymmetric risk/reward if the turnaround succeeds New CEO - Matt Bromberg has proven turnaround experience (Zynga, EA) Launched Unity 6 with AI tools THE BEAR CASE: Critical Risks to Consider Unity faces significant headwinds: Q1 2026 guidance missed estimates triggering a 27% stock drop, Google's AI-powered Project Genie threatens to democratize game development and erode Unity's moat (stock fell 26% on this news), the company remains unprofitable with a 2025 net loss of $403M and no clear path to GAAP profitability, multiple analysts downgraded the stock in February 2026, and the turnaround remains early-stage with high execution risk—if CEO Bromberg (only 21 months in role) departs or the Vector platform's growth proves unsustainable, the investment thesis collapses. UPSIDE The stock could go back to the previous Dec. 2025 high. This would represent a 180% upside. I think the risk/reward ratio of this stock is worth it. Let me know your thoughts.