LSI Software (WAR:LSI) Cyclically Adjusted Book per Share: zł17.32 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

WAR:LSI LSI Software SA WAR:LSI
78 GF Score
Price zł62.80
GF Value zł26.07
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is LSI Software Cyclically Adjusted Book per Share?

LSI Software WAR:LSI +5.37% 78 Cyclically Adjusted Book per Share is zł17.32 as of Mar. 2026. GuruFocus rates WAR:LSI with a GF Score™ of 78/100 and a GF Value™ of zł26.07 (Significantly Overvalued). The stock has 7 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.

LSI Software's adjusted book value per share for the three months ended in Mar. 2026 was zł21.979. 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 zł17.32 for the trailing ten years ended in Mar. 2026.

During the past 12 months, LSI Software's average Cyclically Adjusted Book Growth Rate was 9.90% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 9.70% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 12.90% 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 LSI Software was 14.90% per year. The lowest was 9.70% per year. And the median was 14.00% per year.

As of today (2026-07-14), LSI Software's current stock price is zł62.80. LSI Software's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was zł17.32. LSI Software's Cyclically Adjusted PB Ratio of today is 3.63.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of LSI Software was 3.44. The lowest was 0.83. And the median was 1.24.


LSI Software  (WAR:LSI) 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.

LSI Software's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=62.80/17.32
=3.63

* 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 LSI Software was 3.44. The lowest was 0.83. And the median was 1.24.


Be Aware

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


LSI Software Cyclically Adjusted Book per Share Related Terms


LSI Software Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for LSI Software'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.

LSI Software Cyclically Adjusted Book per Share Chart

LSI Software 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 10.33 12.56 13.97 15.32 16.59

LSI Software Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 15.76 16.02 16.30 16.59 17.32

WAR:LSI vs UBER, SHOP, CRM: Cyclically Adjusted Book per Share Comparison

For the Software - Application subindustry, LSI Software'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.


LSI Software Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, LSI Software's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where LSI Software's Cyclically Adjusted PB Ratio falls into.


WAR:LSI
78GF Score
LSI Software SA WAR:LSI
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

LSI Software 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, LSI Software's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book= Book Value per Share /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=21.979/163.0700*163.0700
=21.979

Current CPI (Mar. 2026) = 163.0700.

LSI Software Quarterly Data

Book Value per Share CPI Adj_Book
201606 7.811 99.552 12.795
201609 8.298 99.064 13.659
201612 8.609 100.366 13.987
201703 8.967 101.018 14.475
201706 9.385 101.180 15.126
201709 9.772 101.343 15.724
201712 9.880 102.564 15.709
201803 10.371 102.564 16.489
201806 9.493 103.378 14.974
201809 9.861 103.378 15.555
201812 10.236 103.785 16.083
201903 10.798 104.274 16.887
201906 10.577 105.983 16.274
201909 11.227 105.983 17.274
201912 11.583 107.123 17.633
202003 11.315 109.076 16.916
202006 12.065 109.402 17.984
202009 12.464 109.320 18.592
202012 12.331 109.565 18.353
202103 10.745 112.658 15.553
202106 13.034 113.960 18.651
202109 12.859 115.588 18.141
202112 14.345 119.088 19.643
202203 14.196 125.031 18.515
202206 14.111 131.705 17.471
202209 13.935 135.531 16.766
202212 15.203 139.113 17.821
202303 15.342 145.950 17.142
202306 15.150 147.009 16.805
202309 15.541 146.113 17.345
202312 15.947 147.741 17.602
202403 16.232 149.044 17.760
202406 16.302 150.997 17.605
202409 17.345 153.439 18.434
202412 17.787 154.660 18.754
202503 18.593 157.021 19.309
202506 18.873 157.509 19.539
202509 19.964 158.000 20.605
202512 22.115 158.320 22.779
202603 21.979 163.070 21.979

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 zł17.32 mean?
LSI Software (WAR:LSI) has a Cyclically Adjusted Book per Share of zł17.32 as of Mar. 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 LSI Software and its competitors.
Is LSI Software's Cyclically Adjusted Book per Share too high?
LSI Software's current Cyclically Adjusted Book per Share is zł17.32. Overall, LSI Software has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does LSI Software's Cyclically Adjusted Book per Share compare to UBER and SHOP?
LSI Software's Cyclically Adjusted Book per Share of zł17.32 can be compared against companies in the Software 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 a Software company?
A good Cyclically Adjusted Book per Share depends on the Software 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 LSI Software and its competitors. LSI Software's current Cyclically Adjusted Book per Share is zł17.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LSI Software stock overvalued right now?
Based on GuruFocus' analysis, LSI Software (WAR:LSI) is currently considered Significantly Overvalued. The stock's GF Value™ is zł26.07, compared to a current price of zł62.80 — trading 140.9% above its estimated fair value. The current Cyclically Adjusted Book per Share is zł17.32. LSI Software's overall GF Score™ is 78/100 with 7 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 LSI Software (WAR:LSI), the current Cyclically Adjusted Book per Share is zł17.32 as of Mar. 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 LSI Software (WAR:LSI) Overvalued in 2026?

Based on GuruFocus' analysis, LSI Software stock appears to be overvalued. The current stock price of zł62.80 is trading 140.9% above its estimated GF Value™ of zł26.07. GuruFocus considers LSI Software to be Significantly Overvalued.

Key valuation signals for WAR:LSI:

  • Cyclically Adjusted Book per Share: zł17.32
  • GF Value™: zł26.07 vs. price of zł62.80 (140.9% above fair value)
  • GF Score™: 78/100 with 7 warning signs

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


LSI Software Business Description

Address No. 176/178 Przybyszewskiego Street, Lodz, POL, 93-120
LSI Software SA is engaged in software development for retail and hospitality sectors as well as for cinema operators. It also involved in professional services, implementation services, maintenance, and the supplying of hardware solutions. The company products are bifurcated namely Bastion Enterprise Resource Planning (ERP), Positive Retail, Positive Hospitality and Expert computer hardware. The company derives majority of its revenues from the sale of the Software business and has operations spread across Poland. Its geographic segments include Poland and other countries.
78GF Score

Get the complete analysis for WAR:LSI

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

zł62.80
Price
zł26.07
GF Value