Warsaw Stock Exchange (LTS:0P2A) Cyclically Adjusted PB Ratio: (As of Sep. 04, 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.
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Charlie Tian
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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.

LTS:0P2A Warsaw Stock Exchange LTS:0P2A
74 GF Score
Price zł102.00
GF Value zł58.64
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Warsaw Stock Exchange Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Warsaw Stock Exchange  (LTS:0P2A) 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.


Warsaw Stock Exchange Cyclically Adjusted PB Ratio Related Terms


Warsaw Stock Exchange Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Warsaw Stock Exchange'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.

Warsaw Stock Exchange Cyclically Adjusted PB Ratio Chart

Warsaw Stock Exchange 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 1.30 0.93 1.07 1.01 1.64

Warsaw Stock Exchange 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 1.28 1.44 1.64 1.77 0.00

LTS:0P2A vs SPGI, CME, ICE: Cyclically Adjusted PB Ratio Comparison

For the Financial Data & Stock Exchanges subindustry, Warsaw Stock Exchange'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.


Warsaw Stock Exchange Cyclically Adjusted PB Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Warsaw Stock Exchange's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


LTS:0P2A
74GF Score
Warsaw Stock Exchange LTS:0P2A
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Warsaw Stock Exchange 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.

Warsaw Stock Exchange's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Warsaw Stock Exchange'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)
=26.712/162.2800*162.2800
=26.712

Current CPI (Jun. 2026) = 162.2800.

Warsaw Stock Exchange Quarterly Data

Book Value per Share CPI Adj_Book
201609 26.564 99.064 43.515
201612 26.848 100.366 43.410
201703 28.401 101.018 45.625
201706 26.627 101.180 42.706
201709 28.355 101.343 45.405
201712 29.270 102.564 46.312
201803 30.867 102.564 48.839
201806 30.372 103.378 47.677
201809 31.755 103.378 49.848
201812 32.626 103.785 51.015
201903 33.604 104.274 52.298
201906 30.271 105.983 46.351
201909 31.663 105.983 48.482
201912 31.839 107.123 48.233
202003 33.124 109.076 49.281
202006 31.067 109.402 46.083
202009 32.264 109.320 47.894
202012 33.732 109.565 49.962
202103 35.414 112.658 51.013
202106 32.960 113.960 46.935
202109 34.251 115.588 48.087
202112 35.559 119.088 48.456
202203 36.805 125.031 47.770
202206 33.870 131.705 41.733
202209 35.015 135.531 41.926
202212 36.426 139.113 42.492
202303 24.314 145.950 27.034
202306 22.706 147.009 25.065
202309 23.696 146.113 26.318
202312 24.760 147.741 27.197
202403 25.437 149.044 27.696
202406 23.446 150.997 25.198
202409 24.452 153.439 25.861
202412 25.400 154.660 26.651
202503 26.612 157.021 27.503
202506 24.850 157.509 25.603
202509 26.036 158.000 26.741
202512 26.954 158.320 27.628
202603 28.615 163.070 28.476
202606 26.712 162.280 26.712

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 Warsaw Stock Exchange (LTS:0P2A) Overvalued in 2026?

Based on GuruFocus' analysis, Warsaw Stock Exchange stock appears to be overvalued. The current stock price of zł102.00 is trading 73.9% above its estimated GF Value™ of zł58.64. GuruFocus considers Warsaw Stock Exchange to be Significantly Overvalued.

Key valuation signals for LTS:0P2A:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: zł58.64 vs. price of zł102.00 (73.9% above fair value)
  • GF Score™: 74/100 with 7 warning signs

No single metric tells the full story. See the LTS:0P2A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Warsaw Stock Exchange Business Description

Other Exchanges GPW:PolandWSX:Germany
Address ul. Ksiazeca 4, Warsaw, POL, 00-498
Warsaw Stock Exchange is a securities exchange based in Poland whose core activities include organizing exchange trading in financial instruments and activities related to such trading. The group also pursues activities in education, promotion, and information concerning the capital market. The company has traditionally generated listed interest from both local and regional European companies but primarily from small and medium-sized Polish companies. In addition to stock and bond offerings, the exchange also offers trading in debt instruments, derivatives, commodities, and structured products. Sales revenue is classified according to three main business segments: financial market, commodity market, and other.
74GF Score

Get the complete analysis for LTS:0P2A

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

zł102.00
Price
zł58.64
GF Value