Energa (WAR:ENG) Cyclically Adjusted PB Ratio: (As of Aug. 11, 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:ENG Energa SA WAR:ENG
67 GF Score
Price zł19.18
GF Value zł11.95
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Energa Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Energa  (WAR:ENG) 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.


Energa Cyclically Adjusted PB Ratio Related Terms


Energa Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Energa'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.

Energa Cyclically Adjusted PB Ratio Chart

Energa 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 0.31 0.24 0.30 0.42 0.64

Energa 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 0.37 0.43 0.64 0.55 0.00

WAR:ENG vs NEE, SO, DUK: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Electric subindustry, Energa'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.


Energa Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Energa's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:ENG
67GF Score
Energa SA WAR:ENG
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Energa 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.

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

For example, Energa'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)
=34.235/162.2800*162.2800
=34.235

Current CPI (Jun. 2026) = 162.2800.

Energa Quarterly Data

Book Value per Share CPI Adj_Book
201609 20.783 99.064 34.045
201612 21.000 100.366 33.954
201703 21.718 101.018 34.889
201706 21.842 101.180 35.032
201709 21.998 101.343 35.225
201712 22.512 102.564 35.619
201803 23.586 102.564 37.318
201806 24.304 103.378 38.152
201809 24.556 103.378 38.547
201812 24.632 103.785 38.515
201903 24.974 104.274 38.867
201906 25.235 105.983 38.640
201909 25.426 105.983 38.932
201912 22.139 107.123 33.538
202003 22.230 109.076 33.073
202006 20.199 109.402 29.962
202009 20.433 109.320 30.332
202012 21.005 109.565 31.111
202103 21.904 112.658 31.552
202106 22.639 113.960 32.238
202109 23.414 115.588 32.872
202112 23.945 119.088 32.630
202203 25.525 125.031 33.129
202206 26.762 131.705 32.975
202209 27.865 135.531 33.365
202212 26.273 139.113 30.648
202303 29.999 145.950 33.355
202306 29.570 147.009 32.642
202309 29.994 146.113 33.313
202312 27.108 147.741 29.776
202403 28.520 149.044 31.053
202406 29.525 150.997 31.731
202409 29.704 153.439 31.415
202412 27.946 154.660 29.323
202503 29.255 157.021 30.235
202506 30.063 157.509 30.974
202509 30.798 158.000 31.632
202512 30.678 158.320 31.445
202603 32.506 163.070 32.349
202606 34.235 162.280 34.235

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 Energa (WAR:ENG) Overvalued in 2026?

Based on GuruFocus' analysis, Energa stock appears to be overvalued. The current stock price of zł19.18 is trading 60.5% above its estimated GF Value™ of zł11.95. GuruFocus considers Energa to be Significantly Overvalued.

Key valuation signals for WAR:ENG:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: zł11.95 vs. price of zł19.18 (60.5% above fair value)
  • GF Score™: 67/100 with 6 warning signs

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


Energa Business Description

Other Exchanges EN2:Germany
Address Al. Grunwaldzka 472, Gdansk, POL, 80-309
Energa SA is a Polish electric utility company of which the State Treasury of Poland is the majority shareholder. Energa SA is involved in the distribution, generation, and sale of electrical energy. The company segments its activities into Electricity Distribution, Generation, and Sales units. The Distribution division operates an electricity transmission system in Northern and Central Poland, where it is the sole distributor. Energa's Generation business controls a portfolio of coal, hydro, biomass, and wind power plants throughout the country. Coal-fired facilities account for a majority of the company's energy production. The majority of Energa's earnings are derived from the business of distributing electricity.
67GF Score

Get the complete analysis for WAR:ENG

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

zł19.18
Price
zł11.95
GF Value