Sigma Defence (WAR:SGD) Cyclically Adjusted Book per Share: zł0.39 (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:SGD Sigma Defence SA WAR:SGD
38 GF Score
Price zł0.15
GF Value zł0.13
Valuation Modestly Overvalued
! 4 Warning Signs
View Full Analysis

What is Sigma Defence Cyclically Adjusted Book per Share?

Sigma Defence WAR:SGD 38 Cyclically Adjusted Book per Share is zł0.39 as of Mar. 2026. GuruFocus rates WAR:SGD with a GF Score™ of 38/100 and a GF Value™ of zł0.13 (Modestly Overvalued). The stock has 4 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.

Sigma Defence's adjusted book value per share for the three months ended in Mar. 2026 was zł0.002. 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 zł0.39 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Sigma Defence's average Cyclically Adjusted Book Growth Rate was -4.90% 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 Sigma Defence was 8.40% per year. The lowest was 0.00% per year. And the median was 4.20% per year.

As of today (2026-08-09), Sigma Defence's current stock price is zł0.148. Sigma Defence's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was zł0.39. Sigma Defence's Cyclically Adjusted PB Ratio of today is 0.38.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Sigma Defence was 5.63. The lowest was 0.38. And the median was 0.92.


Sigma Defence  (WAR:SGD) 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.

Sigma Defence's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=0.148/0.39
=0.38

* 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 Sigma Defence was 5.63. The lowest was 0.38. And the median was 0.92.


Be Aware

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


Sigma Defence Cyclically Adjusted Book per Share Related Terms


Sigma Defence Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for Sigma Defence'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.

Sigma Defence Cyclically Adjusted Book per Share Chart

Sigma Defence 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 0.33 0.39 0.41 0.42 0.39

Sigma Defence 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 0.41 0.41 0.40 0.39 0.39

WAR:SGD vs NTES, EA, TTWO: Cyclically Adjusted Book per Share Comparison

For the Electronic Gaming & Multimedia subindustry, Sigma Defence'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.


Sigma Defence Cyclically Adjusted PB Ratio vs Interactive Media Industry

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

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


WAR:SGD
38GF Score
Sigma Defence SA WAR:SGD
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Sigma Defence 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, Sigma Defence'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)
=0.002/163.0700*163.0700
=0.002

Current CPI (Mar. 2026) = 163.0700.

Sigma Defence Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.236 99.552 0.387
201609 0.183 99.064 0.301
201612 0.134 100.366 0.218
201703 0.044 101.018 0.071
201706 0.029 101.180 0.047
201709 -0.013 101.343 -0.021
201712 0.011 102.564 0.017
201803 0.073 102.564 0.116
201806 0.044 103.378 0.069
201809 0.026 103.378 0.041
201812 0.004 103.785 0.006
201903 0.009 104.274 0.014
201906 0.001 105.983 0.002
201909 -0.021 105.983 -0.032
201912 -0.101 107.123 -0.154
202003 -0.066 109.076 -0.099
202006 0.051 109.402 0.076
202009 0.016 109.320 0.024
202012 -0.006 109.565 -0.009
202103 -0.031 112.658 -0.045
202106 -0.040 113.960 -0.057
202109 0.005 115.588 0.007
202112 1.071 119.088 1.467
202203 0.000 125.031 0.000
202206 1.039 131.705 1.286
202209 1.026 135.531 1.234
202212 1.007 139.113 1.180
202303 0.995 145.950 1.112
202306 0.990 147.009 1.098
202309 0.985 146.113 1.099
202312 0.968 147.741 1.068
202403 0.951 149.044 1.040
202406 0.946 150.997 1.022
202409 0.938 153.439 0.997
202412 0.464 154.660 0.489
202503 0.463 157.021 0.481
202506 0.454 157.509 0.470
202509 0.088 158.000 0.091
202512 0.006 158.320 0.006
202603 0.002 163.070 0.002

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 zł0.39 mean?
Sigma Defence (WAR:SGD) has a Cyclically Adjusted Book per Share of zł0.39 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 Sigma Defence and its competitors.
Is Sigma Defence's Cyclically Adjusted Book per Share too high?
Sigma Defence's current Cyclically Adjusted Book per Share is zł0.39. Overall, Sigma Defence has a GF Score™ of 38/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sigma Defence's Cyclically Adjusted Book per Share compare to NTES and EA?
Sigma Defence's Cyclically Adjusted Book per Share of zł0.39 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 Sigma Defence and its competitors. Sigma Defence's current Cyclically Adjusted Book per Share is zł0.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sigma Defence stock overvalued right now?
Based on GuruFocus' analysis, Sigma Defence (WAR:SGD) is currently considered Modestly Overvalued. The stock's GF Value™ is zł0.13, compared to a current price of zł0.15 — trading 13.8% above its estimated fair value. The current Cyclically Adjusted Book per Share is zł0.39. Sigma Defence's overall GF Score™ is 38/100 with 4 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 Sigma Defence (WAR:SGD), the current Cyclically Adjusted Book per Share is zł0.39 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 Sigma Defence (WAR:SGD) Overvalued in 2026?

Based on GuruFocus' analysis, Sigma Defence stock appears to be overvalued. The current stock price of zł0.15 is trading 13.8% above its estimated GF Value™ of zł0.13. GuruFocus considers Sigma Defence to be Modestly Overvalued.

Key valuation signals for WAR:SGD:

  • Cyclically Adjusted Book per Share: zł0.39
  • GF Value™: zł0.13 vs. price of zł0.15 (13.8% above fair value)
  • GF Score™: 38/100 with 4 warning signs

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


Sigma Defence Business Description

Address ul. Rakowiecka, 34/5, Warsaw, POL, 02-532
Sigma Defence SA, formerly known as VR Factory Games SA, specializes in creating business applications and games using virtual and augmented reality technology. Its games include Horror Bar VR, Bartender VR Simulation, Space Camp, Desert Dream, and Guns and Notes among others.
38GF Score

Get the complete analysis for WAR:SGD

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

zł0.15
Price
zł0.13
GF Value