Apator (WAR:APT) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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
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:APT Apator SA WAR:APT
90 GF Score
Price zł25.70
GF Value zł20.87
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Apator Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Apator  (WAR:APT) 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.


Apator Cyclically Adjusted PB Ratio Related Terms


Apator Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Apator'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.

Apator Cyclically Adjusted PB Ratio Chart

Apator 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 1.18 0.69 0.72 0.74 1.00

Apator 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 0.86 1.06 0.99 0.93 1.11

WAR:APT vs VRT, BE: Cyclically Adjusted PB Ratio Comparison

For the Electrical Equipment & Parts subindustry, Apator'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.


Apator Cyclically Adjusted PB Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Apator's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:APT
90GF Score
Apator SA WAR:APT
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Apator 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.

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

For example, Apator'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)
=22.734/162.2800*162.2800
=22.734

Current CPI (Jun. 2026) = 162.2800.

Apator Quarterly Data

Book Value per Share CPI Adj_Book
201609 14.751 99.064 24.164
201612 15.023 100.366 24.290
201703 15.858 101.018 25.475
201706 15.446 101.180 24.773
201709 16.017 101.343 25.648
201712 15.437 102.564 24.425
201803 15.950 102.564 25.237
201806 15.767 103.378 24.751
201809 16.189 103.378 25.413
201812 16.165 103.785 25.276
201903 16.688 104.274 25.971
201906 16.277 105.983 24.923
201909 16.739 105.983 25.631
201912 16.845 107.123 25.519
202003 17.292 109.076 25.726
202006 17.815 109.402 26.426
202009 17.676 109.320 26.239
202012 17.743 109.565 26.280
202103 19.240 112.658 27.715
202106 18.931 113.960 26.958
202109 18.917 115.588 26.559
202112 18.950 119.088 25.823
202203 18.247 125.031 23.683
202206 18.213 131.705 22.441
202209 18.004 135.531 21.557
202212 18.645 139.113 21.750
202303 19.047 145.950 21.178
202306 18.877 147.009 20.838
202309 19.264 146.113 21.395
202312 18.640 147.741 20.474
202403 19.020 149.044 20.709
202406 19.635 150.997 21.102
202409 20.218 153.439 21.383
202412 20.490 154.660 21.500
202503 20.882 157.021 21.581
202506 20.829 157.509 21.460
202509 21.548 158.000 22.132
202512 22.534 158.320 23.098
202603 23.170 163.070 23.058
202606 22.734 162.280 22.734

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 Apator (WAR:APT) Overvalued in 2026?

Based on GuruFocus' analysis, Apator stock appears to be overvalued. The current stock price of zł25.70 is trading 23.1% above its estimated GF Value™ of zł20.87. GuruFocus considers Apator to be Modestly Overvalued.

Key valuation signals for WAR:APT:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: zł20.87 vs. price of zł25.70 (23.1% above fair value)
  • GF Score™: 90/100 with 6 warning signs

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


Apator Business Description

Other Exchanges 8QM:Germany
Address ul. Gdańska 4a, lok C4, Torun, POL, 87-100
Apator SA manufactures and sells metering and switchgear equipment in Poland and internationally. Its products include electricity meters, such as smart, electronic, prepayment, and induction meters, as well as smart grid systems comprising remote data read out and prepayment systems; and water meters, heat meters and volume parts for heat meters, heating cost allocators, remote reading systems, installation fittings, test and measurement products, and other products.
90GF Score

Get the complete analysis for WAR:APT

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

zł25.70
Price
zł20.87
GF Value