3R Games SpolkaAkcyjna (WAR:3RG) Cyclically Adjusted PB Ratio: 1.92 (As of Jul. 23, 2026) — 300% Above Median

Author: Vera Yuan Vera Yuan
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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
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:3RG 3R Games SpolkaAkcyjna WAR:3RG
41 GF Score
Price zł0.77
GF Value zł0.94
Valuation Modestly Undervalued
! 3 Warning Signs
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What is 3R Games SpolkaAkcyjna Cyclically Adjusted PB Ratio?

3R Games SpolkaAkcyjna WAR:3RG +1.59% 41 Cyclically Adjusted PB Ratio is 1.92 as of Jul. 23, 2026, which is 300% above its 10-year median of 0.48. GuruFocus rates WAR:3RG with a GF Score™ of 41/100 and a GF Value™ of zł0.94 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 809 Retail - Cyclical companies, 3R Games SpolkaAkcyjna ranks worse than 63.66% on this metric.

As of today (2026-07-23), 3R Games SpolkaAkcyjna's current share price is zł0.768. 3R Games SpolkaAkcyjna's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was zł0.40. 3R Games SpolkaAkcyjna's Cyclically Adjusted PB Ratio for today is 1.92.

The historical rank and industry rank for 3R Games SpolkaAkcyjna's Cyclically Adjusted PB Ratio or its related term are showing as below:

WAR:3RG' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.29   Med: 0.48   Max: 1.96
Current: 1.88

During the past years, 3R Games SpolkaAkcyjna's highest Cyclically Adjusted PB Ratio was 1.96. The lowest was 0.29. And the median was 0.48.

WAR:3RG's Cyclically Adjusted PB Ratio is ranked worse than
63.66% of 809 companies
in the Retail - Cyclical industry
Industry Median: 1.24 vs WAR:3RG: 1.88

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.

3R Games SpolkaAkcyjna's adjusted book value per share data for the three months ended in Mar. 2026 was zł0.273. 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 zł0.40 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


3R Games SpolkaAkcyjna  (WAR:3RG) 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.


3R Games SpolkaAkcyjna Cyclically Adjusted PB Ratio Related Terms


3R Games SpolkaAkcyjna Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for 3R Games SpolkaAkcyjna'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.

3R Games SpolkaAkcyjna Cyclically Adjusted PB Ratio Chart

3R Games SpolkaAkcyjna Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.41 0.46 0.52 1.71

3R Games SpolkaAkcyjna Quarterly Data
Mar21 Jun21 Sep21 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 0.99 1.47 1.77 1.71 1.63

WAR:3RG vs AMZN, BABA, PDD: Cyclically Adjusted PB Ratio Comparison

For the Internet Retail subindustry, 3R Games SpolkaAkcyjna'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.


3R Games SpolkaAkcyjna Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, 3R Games SpolkaAkcyjna's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where 3R Games SpolkaAkcyjna's Cyclically Adjusted PB Ratio falls into.


WAR:3RG
41GF Score
3R Games SpolkaAkcyjna WAR:3RG
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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3R Games SpolkaAkcyjna 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.

3R Games SpolkaAkcyjna's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.768/0.40
=1.92

* 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.

3R Games SpolkaAkcyjna's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, 3R Games SpolkaAkcyjna'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)
=0.273/163.0700*163.0700
=0.273

Current CPI (Mar. 2026) = 163.0700.

3R Games SpolkaAkcyjna Quarterly Data

Book Value per Share CPI Adj_Book
201512 0.822 99.471 1.348
201603 0.749 98.983 1.234
201606 0.720 99.552 1.179
201609 0.697 99.064 1.147
201612 0.851 100.366 1.383
201703 0.806 101.018 1.301
201706 0.728 101.180 1.173
201709 0.663 101.343 1.067
201712 0.289 102.564 0.459
201803 0.305 102.564 0.485
201806 0.121 103.378 0.191
201809 0.047 103.378 0.074
201812 0.057 103.785 0.090
201903 0.003 104.274 0.005
201906 -0.059 105.983 -0.091
201909 -0.106 105.983 -0.163
201912 -0.145 107.123 -0.221
202003 -0.063 109.076 -0.094
202006 -0.079 109.402 -0.118
202009 0.000 109.320 0.000
202103 0.197 112.658 0.285
202106 0.193 113.960 0.276
202109 0.193 115.588 0.272
202203 0.182 125.031 0.237
202206 0.192 131.705 0.238
202209 0.202 135.531 0.243
202212 0.209 139.113 0.245
202303 0.219 145.950 0.245
202306 0.226 147.009 0.251
202309 0.232 146.113 0.259
202312 0.237 147.741 0.262
202403 0.235 149.044 0.257
202406 0.240 150.997 0.259
202409 0.236 153.439 0.251
202412 0.228 154.660 0.240
202503 0.227 157.021 0.236
202506 0.235 157.509 0.243
202509 0.251 158.000 0.259
202512 0.266 158.320 0.274
202603 0.273 163.070 0.273

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.

What does a Cyclically Adjusted PB Ratio of 1.92 mean?
3R Games SpolkaAkcyjna (WAR:3RG) has a Cyclically Adjusted PB Ratio of 1.92 as of Jul. 23, 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 3R Games SpolkaAkcyjna and its competitors. This is 300% above median its historical median of 0.48. Over the past decade, 3R Games SpolkaAkcyjna's Cyclically Adjusted PB Ratio has ranged from 0.29 to 1.96. According to the industry distribution chart, 3R Games SpolkaAkcyjna ranks #515 out of 809 companies in the Retail - Cyclical industry, placing it in the top 63.7%.
Is 3R Games SpolkaAkcyjna's Cyclically Adjusted PB Ratio too high?
3R Games SpolkaAkcyjna's current Cyclically Adjusted PB Ratio of 1.92 is 300% above median its 10-year median of 0.48. Over the past 10 years, this metric has ranged from a low of 0.29 to a high of 1.96. The Retail - Cyclical industry median Cyclically Adjusted PB Ratio is 1.24. 3R Games SpolkaAkcyjna's value of 1.92 is 54.8% above this industry median. Based on the distribution chart, 3R Games SpolkaAkcyjna ranks #515 out of 809 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, 3R Games SpolkaAkcyjna has a GF Score™ of 41/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does 3R Games SpolkaAkcyjna's Cyclically Adjusted PB Ratio compare to AMZN and BABA?
According to the Retail - Cyclical industry distribution chart, 3R Games SpolkaAkcyjna ranks #515 out of 809 companies for Cyclically Adjusted PB Ratio. This places 3R Games SpolkaAkcyjna in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.24. 3R Games SpolkaAkcyjna's value of 1.92 is 54.8% above this benchmark. Historically, 3R Games SpolkaAkcyjna's own Cyclically Adjusted PB Ratio has ranged from 0.29 to 1.96 over the past decade. While the company's 10-year median is 0.48 vs. the industry median of 1.24, 3R Games SpolkaAkcyjna 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 Retail - Cyclical company?
The median Cyclically Adjusted PB Ratio among Retail - Cyclical companies is 1.24, based on 809 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. 3R Games SpolkaAkcyjna's current Cyclically Adjusted PB Ratio of 1.92 is 54.8% 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 3R Games SpolkaAkcyjna and its competitors. For the Retail - Cyclical industry, the median Cyclically Adjusted PB Ratio is 1.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. 3R Games SpolkaAkcyjna's current Cyclically Adjusted PB Ratio is 1.92, which is 300% above median its own 10-year median of 0.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is 3R Games SpolkaAkcyjna stock overvalued right now?
Based on GuruFocus' analysis, 3R Games SpolkaAkcyjna (WAR:3RG) is currently considered Modestly Undervalued. The stock's GF Value™ is zł0.94, compared to a current price of zł0.77 — trading 18.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.92, which is 300% above median its 10-year median of 0.48 and 54.8% above the Retail - Cyclical industry median of 1.24. 3R Games SpolkaAkcyjna's overall GF Score™ is 41/100 with 3 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 3R Games SpolkaAkcyjna (WAR:3RG), the current Cyclically Adjusted PB Ratio is 1.92 as of Jul. 23, 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 3R Games SpolkaAkcyjna (WAR:3RG) Overvalued in 2026?

Based on GuruFocus' analysis, 3R Games SpolkaAkcyjna stock appears to be undervalued. The current stock price of zł0.77 is trading 18.3% below its estimated GF Value™ of zł0.94. GuruFocus considers 3R Games SpolkaAkcyjna to be Modestly Undervalued.

Key valuation signals for WAR:3RG:

  • Cyclically Adjusted PB Ratio: 1.92 (300% above median its 10-year median of 0.48)
  • GF Value™: zł0.94 vs. price of zł0.77 (18.3% below fair value)
  • GF Score™: 41/100 with 3 warning signs
  • Industry Position: 54.8% above the Retail - Cyclical median (#515 of 809)

No single metric tells the full story. See the WAR:3RG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


3R Games SpolkaAkcyjna Business Description

Address Inflancka 4B, Gdynia, POL, 00-189
3R Games SpolkaAkcyjna formerly HubStyle SA is an e-commerce development company. The company creates web-based tools for Internet users and entrepreneurs as well as develops and operates its own sites. It also operates a price comparison website.
41GF Score

Get the complete analysis for WAR:3RG

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

zł0.77
Price
zł0.94
GF Value