Bancontander (WAR:SAN) Cyclically Adjusted Book per Share: zł28.85 (As of Jun. 2026)

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WAR:SAN Banco Santander SA WAR:SAN
63 GF Score
Price zł54.74
GF Value zł25.09
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Bancontander Cyclically Adjusted Book per Share?

Bancontander WAR:SAN -0.94% 63 Cyclically Adjusted Book per Share is zł28.85 as of Jun. 2026. GuruFocus rates WAR:SAN with a GF Score™ of 63/100 and a GF Value™ of zł25.09 (Significantly Overvalued). The stock has 5 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.

Bancontander's adjusted book value per share for the three months ended in Jun. 2026 was zł32.054. 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 zł28.85 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Bancontander's average Cyclically Adjusted Book Growth Rate was 2.70% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 0.90% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 0.80% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was -1.60% 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 Bancontander was 19.40% per year. The lowest was -4.10% per year. And the median was 6.10% per year.

As of today (2026-09-02), Bancontander's current stock price is zł54.74. Bancontander's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was zł28.85. Bancontander's Cyclically Adjusted PB Ratio of today is 1.90.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Bancontander was 1.91. The lowest was 0.23. And the median was 0.57.


Bancontander  (WAR:SAN) 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.

Bancontander's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=54.74/28.85
=1.90

* 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 Bancontander was 1.91. The lowest was 0.23. And the median was 0.57.


Be Aware

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


Bancontander Cyclically Adjusted Book per Share Related Terms


Bancontander Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for Bancontander'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.

Bancontander Cyclically Adjusted Book per Share Chart

Bancontander 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 29.11 30.38 28.49 27.36 28.21

Bancontander 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 27.79 28.08 28.21 28.89 28.85

WAR:SAN vs JPM, BAC, WFC: Cyclically Adjusted Book per Share Comparison

For the Banks - Diversified subindustry, Bancontander'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.


Bancontander Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Bancontander's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:SAN
63GF Score
Banco Santander SA WAR:SAN
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bancontander 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, Bancontander'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)
=32.054/131.3300*131.3300
=32.054

Current CPI (Jun. 2026) = 131.3300.

Bancontander Quarterly Data

Book Value per Share CPI Adj_Book
201609 24.385 99.737 32.109
201612 23.217 101.842 29.939
201703 23.966 100.896 31.195
201706 24.139 101.848 31.126
201709 25.566 101.524 33.072
201712 24.832 102.975 31.670
201803 26.004 102.122 33.442
201806 24.390 104.165 30.751
201809 24.618 103.818 31.142
201812 24.231 104.193 30.542
201903 24.640 103.488 31.269
201906 24.586 104.612 30.865
201909 23.251 103.905 29.388
201912 23.979 105.015 29.988
202003 22.994 103.469 29.186
202006 20.002 104.254 25.197
202009 20.789 103.521 26.374
202012 21.400 104.456 26.906
202103 21.197 104.857 26.548
202106 22.215 107.102 27.240
202109 21.748 107.669 26.527
202112 21.517 111.298 25.390
202203 21.457 115.153 24.471
202206 21.058 118.044 23.428
202209 20.057 117.221 22.471
202212 21.007 117.650 23.450
202303 22.026 118.948 24.319
202306 23.387 120.278 25.536
202309 23.229 121.343 25.141
202312 24.483 121.300 26.508
202403 24.885 122.762 26.622
202406 24.899 124.409 26.284
202409 26.038 123.121 27.774
202412 25.494 124.753 26.838
202503 27.244 125.531 28.503
202506 29.110 127.251 30.043
202509 29.925 126.840 30.984
202512 30.763 128.400 31.465
202603 31.758 129.860 32.117
202606 32.054 131.330 32.054

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 zł28.85 mean?
Bancontander (WAR:SAN) has a Cyclically Adjusted Book per Share of zł28.85 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 Bancontander and its competitors.
Is Bancontander's Cyclically Adjusted Book per Share too high?
Bancontander's current Cyclically Adjusted Book per Share is zł28.85. Overall, Bancontander has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bancontander's Cyclically Adjusted Book per Share compare to JPM and BAC?
Bancontander's Cyclically Adjusted Book per Share of zł28.85 can be compared against companies in the Banks 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 Banks company?
A good Cyclically Adjusted Book per Share depends on the Banks 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 Bancontander and its competitors. Bancontander's current Cyclically Adjusted Book per Share is zł28.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bancontander stock overvalued right now?
Based on GuruFocus' analysis, Bancontander (WAR:SAN) is currently considered Significantly Overvalued. The stock's GF Value™ is zł25.09, compared to a current price of zł54.74 — trading 118.2% above its estimated fair value. The current Cyclically Adjusted Book per Share is zł28.85. Bancontander's overall GF Score™ is 63/100 with 5 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 Bancontander (WAR:SAN), the current Cyclically Adjusted Book per Share is zł28.85 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 Bancontander (WAR:SAN) Overvalued in 2026?

Based on GuruFocus' analysis, Bancontander stock appears to be overvalued. The current stock price of zł54.74 is trading 118.2% above its estimated GF Value™ of zł25.09. GuruFocus considers Bancontander to be Significantly Overvalued.

Key valuation signals for WAR:SAN:

  • Cyclically Adjusted Book per Share: zł28.85
  • GF Value™: zł25.09 vs. price of zł54.74 (118.2% above fair value)
  • GF Score™: 63/100 with 5 warning signs

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


Bancontander Business Description

Address Avenida de Cantabria s/n, Boadilla del Monte, Ciudad Grupo Santander, Madrid, ESP, 28660
Santander's focus is on retail and commercial banking. Latin America is geographically the most significant operation, with Brazil making the largest contribution. Its continental European business is mainly in Spain and Portugal. Santander's UK presence is the result of its acquisition of Abbey building society. In the US, Santander operates a vehicle finance business and a regional bank focused on the Northeastern states.
63GF Score

Get the complete analysis for WAR:SAN

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

zł54.74
Price
zł25.09
GF Value