CD Projekt Red (FRA:7CD) Cyclically Adjusted PB Ratio: (As of Sep. 11, 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.

FRA:7CD CD Projekt Red SA FRA:7CD
91 GF Score
Price €53.80
GF Value €52.38
Valuation Fairly Valued
! 2 Warning Signs
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What is CD Projekt Red Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


CD Projekt Red  (FRA:7CD) 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.


CD Projekt Red Cyclically Adjusted PB Ratio Related Terms


CD Projekt Red Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for CD Projekt Red'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.

CD Projekt Red Cyclically Adjusted PB Ratio Chart

CD Projekt Red 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 21.81 10.64 7.72 10.66 11.59

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 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 14.40 13.43 11.59 10.74 9.96

FRA:7CD vs NTES, TTWO, RBLX: Cyclically Adjusted PB Ratio 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.


FRA:7CD
91GF Score
CD Projekt Red SA FRA:7CD
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CD Projekt Red 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.

CD Projekt Red's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

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)
=8.249/162.2800*162.2800
=8.249

Current CPI (Jun. 2026) = 162.2800.

CD Projekt Red Quarterly Data

Book Value per Share CPI Adj_Book
201609 1.683 99.064 2.757
201612 1.871 100.366 3.025
201703 1.982 101.018 3.184
201706 1.918 101.180 3.076
201709 2.009 101.343 3.217
201712 2.126 102.564 3.364
201803 2.188 102.564 3.462
201806 2.264 103.378 3.554
201809 2.309 103.378 3.625
201812 2.415 103.785 3.776
201903 2.465 104.274 3.836
201906 2.349 105.983 3.597
201909 2.395 105.983 3.667
201912 2.663 107.123 4.034
202003 2.895 109.076 4.307
202006 3.036 109.402 4.503
202009 2.604 109.320 3.865
202012 5.020 109.565 7.435
202103 5.118 112.658 7.372
202106 4.150 113.960 5.910
202109 4.213 115.588 5.915
202112 4.352 119.088 5.930
202203 4.503 125.031 5.845
202206 4.373 131.705 5.388
202209 4.592 135.531 5.498
202212 4.706 139.113 5.490
202303 4.879 145.950 5.425
202306 4.712 147.009 5.201
202309 5.115 146.113 5.681
202312 5.567 147.741 6.115
202403 5.808 149.044 6.324
202406 5.755 150.997 6.185
202409 5.956 153.439 6.299
202412 6.427 154.660 6.744
202503 6.701 157.021 6.925
202506 6.667 157.509 6.869
202509 7.092 158.000 7.284
202512 7.621 158.320 7.812
202603 7.906 163.070 7.868
202606 8.249 162.280 8.249

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 CD Projekt Red (FRA:7CD) Overvalued in 2026?

Based on GuruFocus' analysis, CD Projekt Red stock appears to be overvalued. The current stock price of €53.80 is trading 2.7% above its estimated GF Value™ of €52.38. GuruFocus considers CD Projekt Red to be Fairly Valued.

Key valuation signals for FRA:7CD:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €52.38 vs. price of €53.80 (2.7% above fair value)
  • GF Score™: 91/100 with 2 warning signs

No single metric tells the full story. See the FRA:7CD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CD Projekt Red Business Description

Other Exchanges OTGLY:USACDR:Poland
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 FRA:7CD

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

€53.80
Price
€52.38
GF Value