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Warsaw Stock Exchange (WAR:GPW) Cyclically Adjusted Book per Share : zł41.40 (As of Mar. 2024)


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What is Warsaw Stock Exchange Cyclically Adjusted Book per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

Warsaw Stock Exchange's adjusted book value per share for the three months ended in Mar. 2024 was zł39.252. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is zł41.40 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Warsaw Stock Exchange's average Cyclically Adjusted Book Growth Rate was 3.00% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 14.60% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Warsaw Stock Exchange was 14.60% per year. The lowest was 14.10% per year. And the median was 14.35% per year.

As of today (2024-06-06), Warsaw Stock Exchange's current stock price is zł46.50. Warsaw Stock Exchange's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was zł41.40. Warsaw Stock Exchange's Cyclically Adjusted PB Ratio of today is 1.12.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Warsaw Stock Exchange was 1.81. The lowest was 0.86. And the median was 1.37.


Warsaw Stock Exchange Cyclically Adjusted Book per Share Historical Data

The historical data trend for Warsaw Stock Exchange's Cyclically Adjusted Book per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Warsaw Stock Exchange Cyclically Adjusted Book per Share Chart

Warsaw Stock Exchange Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 25.69 27.21 31.64 38.17 40.97

Warsaw Stock Exchange Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted Book per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 40.18 40.57 40.43 40.97 41.40

Competitive Comparison of Warsaw Stock Exchange's Cyclically Adjusted Book per Share

For the Financial Data & Stock Exchanges subindustry, Warsaw Stock Exchange's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Warsaw Stock Exchange's Cyclically Adjusted PB Ratio Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Warsaw Stock Exchange's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Warsaw Stock Exchange's Cyclically Adjusted PB Ratio falls into.



Warsaw Stock Exchange Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Warsaw Stock Exchange's adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book= Book Value per Share /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=39.252/149.0435*149.0435
=39.252

Current CPI (Mar. 2024) = 149.0435.

Warsaw Stock Exchange Quarterly Data

Book Value per Share CPI Adj_Book
201406 25.595 101.180 37.703
201409 24.846 100.611 36.807
201412 25.528 100.122 38.001
201503 27.125 100.041 40.412
201506 24.385 100.448 36.182
201509 25.491 99.634 38.132
201512 26.207 99.471 39.268
201603 27.474 98.983 41.369
201606 25.082 99.552 37.551
201609 26.564 99.064 39.966
201612 26.848 100.366 39.869
201703 28.401 101.018 41.903
201706 26.627 101.180 39.223
201709 28.355 101.343 41.701
201712 29.271 102.564 42.536
201803 30.867 102.564 44.855
201806 30.373 103.378 43.790
201809 31.756 103.378 45.784
201812 32.627 103.785 46.855
201903 33.605 104.274 48.033
201906 30.271 105.983 42.570
201909 31.664 105.983 44.529
201912 31.839 107.123 44.299
202003 33.124 109.076 45.261
202006 31.068 109.402 42.326
202009 32.265 109.320 43.989
202012 33.733 109.565 45.888
202103 35.415 112.658 46.853
202106 32.961 113.960 43.108
202109 34.251 115.588 44.164
202112 35.560 119.088 44.505
202203 36.806 125.031 43.875
202206 33.870 131.705 38.329
202209 35.016 135.531 38.507
202212 36.426 139.113 39.026
202303 37.519 145.950 38.314
202306 35.039 147.009 35.524
202309 36.565 146.113 37.298
202312 38.208 147.741 38.545
202403 39.252 149.044 39.252

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


Warsaw Stock Exchange  (WAR:GPW) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Warsaw Stock Exchange's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=46.50/41.4
=1.12

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Warsaw Stock Exchange was 1.81. The lowest was 0.86. And the median was 1.37.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Warsaw Stock Exchange Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of Warsaw Stock Exchange's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Warsaw Stock Exchange (WAR:GPW) Business Description

Traded in Other Exchanges
Address
ul. Ksiazeca 4, Warsaw, POL, 00-498
Warsaw Stock Exchange is a securities exchange based in Poland whose core activities include organizing exchange trading in financial instruments and activities related to such trading. The group also pursues activities in education, promotion, and information concerning the capital market. The company has traditionally generated listed interest from both local and regional European companies but primarily from small and medium-sized Polish companies. In addition to stock and bond offerings, the exchange also offers trading in debt instruments, derivatives, commodities, and structured products. Sales revenue is classified according to three main business segments: financial market, commodity market, and other.

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