CIGMF (CI Games SE) Cyclically Adjusted PB Ratio: (As of Sep. 20, 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.

CIGMF CI Games SE CIGMF
56 GF Score
Price $0.74
GF Value $0.50
Valuation Significantly Overvalued
! 8 Warning Signs
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What is CI Games SE Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


CI Games SE  (OTCPK:CIGMF) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


CI Games SE Cyclically Adjusted PB Ratio Related Terms


CI Games SE Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for CI Games SE's Cyclically Adjusted PB Ratio 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.

CI Games SE Cyclically Adjusted PB Ratio Chart

CI Games SE Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.76 2.02 7.83 7.71 7.49

CI Games SE Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio 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 7.56 7.56 7.52 7.49 3.37

CIGMF vs NTES, TTWO, RBLX: Cyclically Adjusted PB Ratio Comparison

For the Electronic Gaming & Multimedia subindustry, CI Games SE'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.


CI Games SE Cyclically Adjusted PB Ratio vs Interactive Media Industry

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

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


CIGMF
56GF Score
CI Games SE CIGMF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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CI Games SE Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

CI Games SE's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, CI Games SE'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)
=0.32/163.0700*163.0700
=0.320

Current CPI (Mar. 2026) = 163.0700.

CI Games SE Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.132 99.552 0.216
201609 0.131 99.064 0.216
201612 0.133 100.366 0.216
201703 0.131 101.018 0.211
201706 0.153 101.180 0.247
201709 0.162 101.343 0.261
201712 0.170 102.564 0.270
201803 0.174 102.564 0.277
201806 0.141 103.378 0.222
201809 0.117 103.378 0.185
201812 0.118 103.785 0.185
201903 0.090 104.274 0.141
201906 0.121 105.983 0.186
201909 0.081 105.983 0.125
201912 0.098 107.123 0.149
202003 0.091 109.076 0.136
202006 0.106 109.402 0.158
202009 0.134 109.320 0.200
202012 0.142 109.565 0.211
202103 0.137 112.658 0.198
202106 0.158 113.960 0.226
202109 0.170 115.588 0.240
202112 0.183 119.088 0.251
202203 0.183 125.031 0.239
202206 0.181 131.705 0.224
202209 0.157 135.531 0.189
202212 0.177 139.113 0.207
202303 0.180 145.950 0.201
202306 0.190 147.009 0.211
202309 0.179 146.113 0.200
202312 0.223 147.741 0.246
202403 0.210 149.044 0.230
202406 0.213 150.997 0.230
202409 0.221 153.439 0.235
202412 0.197 154.660 0.208
202503 0.211 157.021 0.219
202506 0.241 157.509 0.250
202509 0.226 158.000 0.233
202512 0.234 158.320 0.241
202603 0.320 163.070 0.320

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

Is CI Games SE (CIGMF) Overvalued in 2026?

Based on GuruFocus' analysis, CI Games SE stock appears to be overvalued. The current stock price of $0.74 is trading 48.4% above its estimated GF Value™ of $0.50. GuruFocus considers CI Games SE to be Significantly Overvalued.

Key valuation signals for CIGMF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $0.50 vs. price of $0.74 (48.4% above fair value)
  • GF Score™: 56/100 with 8 warning signs

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


CI Games SE Business Description

Other Exchanges CIG:PolandCI7:Germany
Address Rondo Daszyńskiego 2B, Warszawa, POL, 00-843
CI Games SE is engaged in developing, producing, publishing, and distributing computer games. The company offers various games including Sniper Ghost Warrior, Alien Fear, Dogfight 1942, Farm Frenzy and Enemy Front among others.
56GF Score

Get the complete analysis for CIGMF

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

$0.74
Price
$0.50
GF Value