CD Projekt Red (WAR:CDR) Cyclically Adjusted Book per Share: zł22.53 (As of Jun. 2026)

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WAR:CDR CD Projekt Red SA WAR:CDR
91 GF Score
Price zł232.30
GF Value zł222.14
Valuation Fairly Valued
! 2 Warning Signs
View Full Analysis

What is CD Projekt Red Cyclically Adjusted Book per Share?

CD Projekt Red WAR:CDR -2.97% 91 Cyclically Adjusted Book per Share is zł22.53 as of Jun. 2026. GuruFocus rates WAR:CDR with a GF Score™ of 91/100 and a GF Value™ of zł222.14 (Fairly Valued). The stock has 2 warning signs investors should review.

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.

CD Projekt Red's adjusted book value per share for the three months ended in Jun. 2026 was zł35.639. 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 zł22.53 for the trailing ten years ended in Jun. 2026.

During the past 12 months, CD Projekt Red's average Cyclically Adjusted Book Growth Rate was 15.50% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 19.50% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 26.30% 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 CD Projekt Red was 32.20% per year. The lowest was 19.50% per year. And the median was 30.50% per year.

As of today (2026-09-10), CD Projekt Red's current stock price is zł232.30. CD Projekt Red's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was zł22.53. CD Projekt Red's Cyclically Adjusted PB Ratio of today is 10.31.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of CD Projekt Red was 77.03. The lowest was 6.66. And the median was 12.88.


CD Projekt Red  (WAR:CDR) 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.

CD Projekt Red's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=232.30/22.53
=10.31

* 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 CD Projekt Red was 77.03. The lowest was 6.66. And the median was 12.88.


Be Aware

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


CD Projekt Red Cyclically Adjusted Book per Share Related Terms


CD Projekt Red Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for CD Projekt Red'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.

CD Projekt Red Cyclically Adjusted Book per Share Chart

CD Projekt Red Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.85 12.19 14.90 17.96 20.79

CD Projekt Red Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 19.50 20.14 20.79 22.03 22.53

WAR:CDR vs NTES, TTWO, RBLX: Cyclically Adjusted Book per Share Comparison

For the Electronic Gaming & Multimedia subindustry, CD Projekt Red'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.


CD Projekt Red Cyclically Adjusted PB Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, CD Projekt Red's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where CD Projekt Red's Cyclically Adjusted PB Ratio falls into.


WAR:CDR
91GF Score
CD Projekt Red SA WAR:CDR
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CD Projekt Red 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, CD Projekt Red's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book= Book Value per Share /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=35.639/162.2800*162.2800
=35.639

Current CPI (Jun. 2026) = 162.2800.

CD Projekt Red Quarterly Data

Book Value per Share CPI Adj_Book
201609 7.270 99.064 11.909
201612 8.083 100.366 13.069
201703 8.565 101.018 13.759
201706 8.285 101.180 13.288
201709 8.681 101.343 13.901
201712 9.185 102.564 14.533
201803 9.453 102.564 14.957
201806 9.782 103.378 15.356
201809 9.975 103.378 15.658
201812 10.433 103.785 16.313
201903 10.649 104.274 16.573
201906 10.147 105.983 15.537
201909 10.348 105.983 15.845
201912 11.505 107.123 17.429
202003 12.508 109.076 18.609
202006 13.116 109.402 19.455
202009 11.251 109.320 16.701
202012 21.690 109.565 32.126
202103 22.112 112.658 31.852
202106 17.931 113.960 25.534
202109 18.201 115.588 25.553
202112 18.805 119.088 25.625
202203 19.456 125.031 25.252
202206 18.893 131.705 23.279
202209 19.839 135.531 23.754
202212 20.333 139.113 23.719
202303 21.078 145.950 23.436
202306 20.356 147.009 22.471
202309 22.101 146.113 24.546
202312 24.054 147.741 26.421
202403 25.093 149.044 27.322
202406 24.866 150.997 26.724
202409 25.732 153.439 27.215
202412 27.765 154.660 29.133
202503 28.952 157.021 29.922
202506 28.804 157.509 29.676
202509 30.642 158.000 31.472
202512 32.928 158.320 33.752
202603 34.158 163.070 33.993
202606 35.639 162.280 35.639

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

What does a Cyclically Adjusted Book per Share of zł22.53 mean?
CD Projekt Red (WAR:CDR) has a Cyclically Adjusted Book per Share of zł22.53 as of Jun. 2026. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on CD Projekt Red and its competitors.
Is CD Projekt Red's Cyclically Adjusted Book per Share too high?
CD Projekt Red's current Cyclically Adjusted Book per Share is zł22.53. Overall, CD Projekt Red has a GF Score™ of 91/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CD Projekt Red's Cyclically Adjusted Book per Share compare to NTES and TTWO?
CD Projekt Red's Cyclically Adjusted Book per Share of zł22.53 can be compared against companies in the Interactive Media industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Book per Share for an Interactive Media company?
A good Cyclically Adjusted Book per Share depends on the Interactive Media industry context. However, Cyclically Adjusted Book per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Book per Share mean?
A high Cyclically Adjusted Book per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on CD Projekt Red and its competitors. CD Projekt Red's current Cyclically Adjusted Book per Share is zł22.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CD Projekt Red stock overvalued right now?
Based on GuruFocus' analysis, CD Projekt Red (WAR:CDR) is currently considered Fairly Valued. The stock's GF Value™ is zł222.14, compared to a current price of zł232.30 — trading 4.6% above its estimated fair value. The current Cyclically Adjusted Book per Share is zł22.53. CD Projekt Red's overall GF Score™ is 91/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Book per Share calculated?
Cyclically Adjusted Book per Share is calculated from a company's financial statements. For CD Projekt Red (WAR:CDR), the current Cyclically Adjusted Book per Share is zł22.53 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is CD Projekt Red (WAR:CDR) Overvalued in 2026?

Based on GuruFocus' analysis, CD Projekt Red stock appears to be overvalued. The current stock price of zł232.30 is trading 4.6% above its estimated GF Value™ of zł222.14. GuruFocus considers CD Projekt Red to be Fairly Valued.

Key valuation signals for WAR:CDR:

  • Cyclically Adjusted Book per Share: zł22.53
  • GF Value™: zł222.14 vs. price of zł232.30 (4.6% above fair value)
  • GF Score™: 91/100 with 2 warning signs

No single metric tells the full story. See the WAR:CDR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CD Projekt Red Business Description

Other Exchanges OTGLY:USA7CD:Germany
Address ul. Jagiellonska 74, Building E, Warsaw, POL, 03-301
CD Projekt SA is the holding company of the CD Projekt capital group. The firm, with its subsidiary, develops and publishes video games for hardware platforms such as Steam, PlayStation Store, Xbox Games Store, Nintendo, App Store, Humble Bundle, Origin, and its own proprietary GOG.com platform. It is also involved in international digital video game distribution. The firm has CD Projekt Red and GOG.com segments. It derives the majority of its revenues from the CD Projekt Red segment.
91GF Score

Get the complete analysis for WAR:CDR

Cyclically Adjusted Book per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

zł232.30
Price
zł222.14
GF Value