Ecnology Group (WAR:ECN) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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What is Ecnology Group Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Ecnology Group  (WAR:ECN) 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.


Ecnology Group Cyclically Adjusted PB Ratio Related Terms


Ecnology Group Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for Ecnology Group'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.

Ecnology Group Cyclically Adjusted PB Ratio Chart

Ecnology Group Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
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Ecnology Group Quarterly Data
Dec20 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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WAR:ECN vs APH, TEL, GLW: Cyclically Adjusted PB Ratio Comparison

For the Electronic Components subindustry, Ecnology Group'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.


Ecnology Group Cyclically Adjusted PB Ratio vs Hardware Industry

For the Hardware industry and Technology sector, Ecnology Group's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Ecnology Group 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.

Ecnology Group's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 is calculated as:

For example, Ecnology Group's adjusted Book Value per Share data for the three months ended in Dec. 2025 was:

Adj_Book=Book Value per Share/CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=0.112/158.3200*158.3200
=0.112

Current CPI (Dec. 2025) = 158.3200.

Ecnology Group Quarterly Data

Book Value per Share CPI Adj_Book
201506 0.187 100.448 0.295
201509 0.191 99.634 0.304
201603 0.162 98.983 0.259
201606 0.147 99.552 0.234
201609 0.151 99.064 0.241
201703 0.142 101.018 0.223
201706 0.143 101.180 0.224
201709 0.146 101.343 0.228
201712 0.149 102.564 0.230
201803 0.156 102.564 0.241
201806 0.148 103.378 0.227
201809 0.136 103.378 0.208
201812 0.136 103.785 0.207
201903 0.148 104.274 0.225
201906 0.150 105.983 0.224
201909 0.140 105.983 0.209
201912 0.140 107.123 0.207
202003 0.157 109.076 0.228
202006 0.153 109.402 0.221
202009 0.157 109.320 0.227
202012 0.199 109.565 0.288
202106 0.130 113.960 0.181
202109 0.137 115.588 0.188
202112 0.114 119.088 0.152
202203 0.135 125.031 0.171
202206 0.139 131.705 0.167
202209 0.150 135.531 0.175
202212 0.144 139.113 0.164
202303 0.167 145.950 0.181
202306 0.158 147.009 0.170
202309 0.161 146.113 0.174
202312 0.140 147.741 0.150
202403 0.183 149.044 0.194
202406 0.153 150.997 0.160
202409 0.150 153.439 0.155
202412 -0.075 154.660 -0.077
202503 0.074 157.021 0.075
202506 0.059 157.509 0.059
202509 0.072 158.000 0.072
202512 0.112 158.320 0.112

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.


Ecnology Group Business Description

Address ul. Akademijna 27, Jablonna, POL, 05-110
Ecnology Group SA is a technology company from the energy sector, part of a production and distribution group that has its own patented, technological solutions. It is the exclusive distributor of Smart Optimizer ECOD and Watt Optimizer Analytics devices in Poland. Its product includes Smart Optimizer ECOD.