Black Pearl (WAR:BPC) Cyclically Adjusted PB Ratio: 0.55 (As of Jul. 14, 2026) — 64% Below Median

Author: Vera Yuan 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.
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.

What is Black Pearl Cyclically Adjusted PB Ratio?

Black Pearl WAR:BPC -17.90% Cyclically Adjusted PB Ratio is 0.55 as of Jul. 14, 2026, which is 64% below its 10-year median of 1.53. The stock has 5 warning signs investors should review. Among 1,002 Asset Management companies, Black Pearl ranks better than 64.27% on this metric.

As of today (2026-07-14), Black Pearl's current share price is zł0.0665. Black Pearl's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was zł0.12. Black Pearl's Cyclically Adjusted PB Ratio for today is 0.55.

The historical rank and industry rank for Black Pearl's Cyclically Adjusted PB Ratio or its related term are showing as below:

WAR:BPC' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.61   Med: 1.53   Max: 2.4
Current: 0.67

During the past years, Black Pearl's highest Cyclically Adjusted PB Ratio was 2.40. The lowest was 0.61. And the median was 1.53.

WAR:BPC's Cyclically Adjusted PB Ratio is ranked better than
64.27% of 1002 companies
in the Asset Management industry
Industry Median: 0.85 vs WAR:BPC: 0.67

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.

Black Pearl's adjusted book value per share data for the three months ended in Mar. 2026 was zł0.034. 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 zł0.12 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Black Pearl  (WAR:BPC) 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.


Black Pearl Cyclically Adjusted PB Ratio Related Terms


Black Pearl Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Black Pearl'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.

Black Pearl Cyclically Adjusted PB Ratio Chart

Black Pearl 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 0.00 1.82 1.60 0.97 1.00

Black Pearl Quarterly Data
Jun21 Sep21 Dec21 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 1.53 1.17 1.15 1.00 0.76

WAR:BPC vs BLK, BX, KKR: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, Black Pearl'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.


Black Pearl Cyclically Adjusted PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Black Pearl's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Black Pearl 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.

Black Pearl's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.0665/0.12
=0.55

* 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.

Black Pearl's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Black Pearl'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)
=0.034/163.0700*163.0700
=0.034

Current CPI (Mar. 2026) = 163.0700.

Black Pearl Quarterly Data

Book Value per Share CPI Adj_Book
201509 -0.003 99.634 -0.005
201512 -0.006 99.471 -0.010
201603 0.074 98.983 0.122
201606 0.000 99.552 0.000
201609 0.112 99.064 0.184
201612 0.112 100.366 0.182
201703 0.112 101.018 0.181
201706 0.115 101.180 0.185
201709 0.115 101.343 0.185
201712 0.106 102.564 0.169
201803 0.122 102.564 0.194
201806 0.109 103.378 0.172
201809 0.090 103.378 0.142
201812 0.095 103.785 0.149
201912 0.087 107.123 0.132
202003 0.000 109.076 0.000
202006 0.658 109.402 0.981
202009 0.000 109.320 0.000
202012 0.081 109.565 0.121
202103 0.088 112.658 0.127
202106 0.085 113.960 0.122
202109 0.087 115.588 0.123
202112 0.092 119.088 0.126
202203 0.099 125.031 0.129
202206 0.090 131.705 0.111
202209 0.090 135.531 0.108
202212 0.058 139.113 0.068
202303 0.058 145.950 0.065
202306 0.024 147.009 0.027
202309 0.024 146.113 0.027
202312 0.032 147.741 0.035
202403 0.032 149.044 0.035
202406 0.032 150.997 0.035
202409 0.033 153.439 0.035
202412 0.032 154.660 0.034
202503 0.033 157.021 0.034
202506 0.032 157.509 0.033
202509 0.033 158.000 0.034
202512 0.034 158.320 0.035
202603 0.034 163.070 0.034

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 0.55 mean?
Black Pearl (WAR:BPC) has a Cyclically Adjusted PB Ratio of 0.55 as of Jul. 14, 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 Black Pearl and its competitors. This is 64% below median its historical median of 1.53. Over the past decade, Black Pearl's Cyclically Adjusted PB Ratio has ranged from 0.61 to 2.40. According to the industry distribution chart, Black Pearl ranks #358 out of 1002 companies in the Asset Management industry, placing it in the top 35.7%.
Is Black Pearl's Cyclically Adjusted PB Ratio too high?
Black Pearl's current Cyclically Adjusted PB Ratio of 0.55 is 64% below median its 10-year median of 1.53. Over the past 10 years, this metric has ranged from a low of 0.61 to a high of 2.40. The Asset Management industry median Cyclically Adjusted PB Ratio is 0.85. Black Pearl's value of 0.55 is 35.3% below this industry median. Based on the distribution chart, Black Pearl ranks #358 out of 1002 companies in the Asset Management industry, which is above the industry midpoint.
How does Black Pearl's Cyclically Adjusted PB Ratio compare to BLK and BX?
According to the Asset Management industry distribution chart, Black Pearl ranks #358 out of 1002 companies for Cyclically Adjusted PB Ratio. This puts Black Pearl in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.85. Black Pearl's value of 0.55 is 35.3% below this benchmark. Historically, Black Pearl's own Cyclically Adjusted PB Ratio has ranged from 0.61 to 2.40 over the past decade. While the company's 10-year median is 1.53 vs. the industry median of 0.85, Black Pearl has consistently been below 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 an Asset Management company?
The median Cyclically Adjusted PB Ratio among Asset Management companies is 0.85, based on 1,002 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. Black Pearl's current Cyclically Adjusted PB Ratio of 0.55 is 35.3% below 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 Black Pearl and its competitors. For the Asset Management industry, the median Cyclically Adjusted PB Ratio is 0.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Black Pearl's current Cyclically Adjusted PB Ratio is 0.55, which is 64% below median its own 10-year median of 1.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Black Pearl stock overvalued right now?
Black Pearl (WAR:BPC) has a current Cyclically Adjusted PB Ratio of 0.55. The current Cyclically Adjusted PB Ratio is 0.55, which is 64% below median its 10-year median of 1.53 and 35.3% below the Asset Management industry median of 0.85. 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 Black Pearl (WAR:BPC), the current Cyclically Adjusted PB Ratio is 0.55 as of Jul. 14, 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.

Black Pearl Business Description

Address Slominskiego Street 15 Lok 504, Warsaw, POL, 00-95
Black Pearl SA is a private equity firm. The company is involved in the transactions of mergers and acquisitions in the public market and the acquisition of shares in distressed securities.