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Warner Music GroupHAM:WA4 -0.42%76 Cyclically Adjusted PB Ratio is 67.49 as of Jul. 25, 2026, which is 7% below its 10-year median of 72.40. GuruFocus rates HAM:WA4 with a GF Score™ of 76/100 and a GF Value™ of €31.27. The stock has 2 warning signs investors should review. Among 713 Media - Diversified companies, Warner Music Group ranks worse than 99.44% on this metric.
The historical rank and industry rank for Warner Music Group's Cyclically Adjusted PB Ratio or its related term are showing as below:
HAM:WA4'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 41.45 Med: 72.4 Max: 113.44
Current: 64.37
During the past years, Warner Music Group's highest Cyclically Adjusted PB Ratio was 113.44. The lowest was 41.45. And the median was 72.40.
HAM:WA4's Cyclically Adjusted PB Ratio is ranked worse than 99.44% of 713
companies
in the Media - Diversified industry
Industry Median: 0.98
vs HAM:WA4: 64.37
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.
Warner Music Group's adjusted book value per share data for the three months ended in Mar. 2026 was €1.224. 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 €0.35 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Warner Music Group (HAM:WA4) 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.
Warner Music Group Cyclically Adjusted PB Ratio Related Terms
Warner Music Group Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Warner Music Group'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.
Warner Music Group Cyclically Adjusted PB Ratio Chart
HAM:WA4 vs NWSA, TKO, PSKY: Cyclically Adjusted PB Ratio Comparison
For the Entertainment subindustry, Warner Music Group'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.
Warner Music Group Cyclically Adjusted PB Ratio vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Warner Music Group's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Warner Music Group's Cyclically Adjusted PB Ratio falls into.
Warner Music Group 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.
Warner Music Group's Cyclically Adjusted PB Ratio for today is calculated as
* 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.
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.
What does a Cyclically Adjusted PB Ratio of 67.49 mean?
Warner Music Group (HAM:WA4) has a Cyclically Adjusted PB Ratio of 67.49 as of Jul. 25, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Warner Music Group and its competitors. This is near median its historical median of 72.40. Over the past decade, Warner Music Group's Cyclically Adjusted PB Ratio has ranged from 41.45 to 113.44. According to the industry distribution chart, Warner Music Group ranks #709 out of 713 companies in the Media - Diversified industry, placing it in the top 99.4%.
Is Warner Music Group's Cyclically Adjusted PB Ratio too high?
Warner Music Group's current Cyclically Adjusted PB Ratio of 67.49 is near median its 10-year median of 72.40. Over the past 10 years, this metric has ranged from a low of 41.45 to a high of 113.44. The Media - Diversified industry median Cyclically Adjusted PB Ratio is 0.98. Warner Music Group's value of 67.49 is 6786.7% above this industry median. Based on the distribution chart, Warner Music Group ranks #709 out of 713 companies in the Media - Diversified industry, which is in the bottom quartile relative to peers. Overall, Warner Music Group has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does Warner Music Group's Cyclically Adjusted PB Ratio compare to NWSA and TKO?
According to the Media - Diversified industry distribution chart, Warner Music Group ranks #709 out of 713 companies for Cyclically Adjusted PB Ratio. This places Warner Music Group in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.98. Warner Music Group's value of 67.49 is 6786.7% above this benchmark. Historically, Warner Music Group's own Cyclically Adjusted PB Ratio has ranged from 41.45 to 113.44 over the past decade. While the company's 10-year median is 72.40 vs. the industry median of 0.98, Warner Music Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Media - Diversified company?
The median Cyclically Adjusted PB Ratio among Media - Diversified companies is 0.98, based on 713 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Warner Music Group's current Cyclically Adjusted PB Ratio of 67.49 is 6786.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Warner Music Group and its competitors. For the Media - Diversified industry, the median Cyclically Adjusted PB Ratio is 0.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Warner Music Group's current Cyclically Adjusted PB Ratio is 67.49, which is near median its own 10-year median of 72.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Warner Music Group stock overvalued right now?
Warner Music Group (HAM:WA4) has a current Cyclically Adjusted PB Ratio of 67.49. The stock's GF Value™ is €31.27, compared to a current price of €23.62 — trading 24.5% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 67.49, which is near median its 10-year median of 72.40 and 6786.7% above the Media - Diversified industry median of 0.98. Warner Music Group's overall GF Score™ is 76/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Warner Music Group (HAM:WA4), the current Cyclically Adjusted PB Ratio is 67.49 as of Jul. 25, 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 Warner Music Group (HAM:WA4) Overvalued in 2026?
Based on GuruFocus' analysis, Warner Music Group stock appears to be undervalued.
The current stock price of €23.62 is trading 24.5% below its estimated GF Value™ of €31.27.
Key valuation signals for HAM:WA4:
Cyclically Adjusted PB Ratio: 67.49 (near median its 10-year median of 72.40)
GF Value™: €31.27 vs. price of €23.62 (24.5% below fair value)
Industry Position: 6786.7% above the Media - Diversified median (#709 of 713)
No single metric tells the full story. See the HAM:WA4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Warner Music is the third-largest of the three major record companies. Recorded music accounts for most of the firm's revenue, with the segment housing notable record labels including Atlantic Records, Warner Records, Elektra Records. Some of the most successful current artists signed to record deals with Warner include Ed Sheeran, Bruno Mars, Cardi B, and Dua Lipa. Warner's remaining revenue comes from its publishing business, where Warner Chappell represents more than 180,000 songwriters and composers, some of whom are also Warner recording artists but many of whom are not recording artists or are attached to other labels. Warner Chappell controls more than 1 million musical compositions. Access Industries controls 98% of Warner's voting rights, while holding a 72% economic interest.
76GF Score
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