ECL (WAR:ECL) Cyclically Adjusted PB Ratio: 1.50 (As of Jul. 23, 2026) — 43% Below Median

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WAR:ECL ECL SA WAR:ECL
33 GF Score
Price zł4.80
! 2 Warning Signs
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What is ECL Cyclically Adjusted PB Ratio?

ECL WAR:ECL +9.59% 33 Cyclically Adjusted PB Ratio is 1.50 as of Jul. 23, 2026, which is 43% below its 10-year median of 2.61. GuruFocus rates WAR:ECL with a GF Score™ of 33/100. The stock has 2 warning signs investors should review. Among 288 Telecommunication Services companies, ECL ranks better than 56.94% on this metric.

As of today (2026-07-23), ECL's current share price is zł4.80. ECL's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was zł3.21. ECL's Cyclically Adjusted PB Ratio for today is 1.50.

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

WAR:ECL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.22   Med: 2.61   Max: 12.65
Current: 1.52

During the past years, ECL's highest Cyclically Adjusted PB Ratio was 12.65. The lowest was 1.22. And the median was 2.61.

WAR:ECL's Cyclically Adjusted PB Ratio is ranked better than
56.94% of 288 companies
in the Telecommunication Services industry
Industry Median: 1.785 vs WAR:ECL: 1.52

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.

ECL's adjusted book value per share data for the three months ended in Mar. 2026 was zł0.165. 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 zł3.21 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


ECL  (WAR:ECL) 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.


ECL Cyclically Adjusted PB Ratio Related Terms


ECL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for ECL'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.

ECL Cyclically Adjusted PB Ratio Chart

ECL 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 7.98 1.36 1.10 2.37 4.65

ECL 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 1.99 2.32 5.82 4.65 4.83

WAR:ECL vs TMUS, VZ, T: Cyclically Adjusted PB Ratio Comparison

For the Telecom Services subindustry, ECL'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.


ECL Cyclically Adjusted PB Ratio vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, ECL's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:ECL
33GF Score
ECL SA WAR:ECL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

ECL 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.

ECL's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=4.80/3.21
=1.50

* 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.

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

For example, ECL'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)
=0.165/163.0700*163.0700
=0.165

Current CPI (Mar. 2026) = 163.0700.

ECL Quarterly Data

Book Value per Share CPI Adj_Book
201606 2.495 99.552 4.087
201609 2.505 99.064 4.124
201612 2.414 100.366 3.922
201703 2.795 101.018 4.512
201706 2.438 101.180 3.929
201709 2.411 101.343 3.880
201712 2.103 102.564 3.344
201803 2.304 102.564 3.663
201806 2.125 103.378 3.352
201809 2.191 103.378 3.456
201812 2.091 103.785 3.285
201903 2.130 104.274 3.331
201906 2.035 105.983 3.131
201909 1.962 105.983 3.019
201912 1.457 107.123 2.218
202003 1.938 109.076 2.897
202006 1.462 109.402 2.179
202009 1.535 109.320 2.290
202012 1.216 109.565 1.810
202103 1.217 112.658 1.762
202106 1.160 113.960 1.660
202109 1.143 115.588 1.613
202112 1.040 119.088 1.424
202203 4.128 125.031 5.384
202206 6.166 131.705 7.634
202209 6.137 135.531 7.384
202212 6.095 139.113 7.145
202303 6.078 145.950 6.791
202306 6.063 147.009 6.725
202309 6.040 146.113 6.741
202312 1.467 147.741 1.619
202403 1.449 149.044 1.585
202406 1.431 150.997 1.545
202409 1.408 153.439 1.496
202412 1.235 154.660 1.302
202503 1.218 157.021 1.265
202506 1.196 157.509 1.238
202509 1.175 158.000 1.213
202512 0.186 158.320 0.192
202603 0.165 163.070 0.165

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 1.50 mean?
ECL (WAR:ECL) has a Cyclically Adjusted PB Ratio of 1.50 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 ECL and its competitors. This is 43% below median its historical median of 2.61. Over the past decade, ECL's Cyclically Adjusted PB Ratio has ranged from 1.22 to 12.65. According to the industry distribution chart, ECL ranks #124 out of 288 companies in the Telecommunication Services industry, placing it in the top 43.1%.
Is ECL's Cyclically Adjusted PB Ratio too high?
ECL's current Cyclically Adjusted PB Ratio of 1.50 is 43% below median its 10-year median of 2.61. Over the past 10 years, this metric has ranged from a low of 1.22 to a high of 12.65. The Telecommunication Services industry median Cyclically Adjusted PB Ratio is 1.79. ECL's value of 1.50 is 16% below this industry median. Based on the distribution chart, ECL ranks #124 out of 288 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, ECL has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does ECL's Cyclically Adjusted PB Ratio compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, ECL ranks #124 out of 288 companies for Cyclically Adjusted PB Ratio. This puts ECL in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.79. ECL's value of 1.50 is 16% below this benchmark. Historically, ECL's own Cyclically Adjusted PB Ratio has ranged from 1.22 to 12.65 over the past decade. While the company's 10-year median is 2.61 vs. the industry median of 1.79, ECL 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 a Telecommunication Services company?
The median Cyclically Adjusted PB Ratio among Telecommunication Services companies is 1.79, based on 288 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. ECL's current Cyclically Adjusted PB Ratio of 1.50 is 16% 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 ECL and its competitors. For the Telecommunication Services industry, the median Cyclically Adjusted PB Ratio is 1.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ECL's current Cyclically Adjusted PB Ratio is 1.50, which is 43% below median its own 10-year median of 2.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ECL stock overvalued right now?
ECL (WAR:ECL) has a current Cyclically Adjusted PB Ratio of 1.50. The current Cyclically Adjusted PB Ratio is 1.50, which is 43% below median its 10-year median of 2.61 and 16% below the Telecommunication Services industry median of 1.79. ECL's overall GF Score™ is 33/100 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 ECL (WAR:ECL), the current Cyclically Adjusted PB Ratio is 1.50 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.

ECL Business Description

Address Ulica Pianists 2, Warsaw, POL, 02-403
ECL SA formerly Easycall pl SA is engaged in the provision of telecommunication services in Poland. The company offers local or long distance fixed and mobile telecommunication network services. Its added services include Virtual fax, Virtual control panel, Online billing and Video calls.
33GF Score

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

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