Lokaty Budowlane (WAR:LBD) Cyclically Adjusted PB Ratio: (As of Aug. 07, 2026)

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.
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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:LBD Lokaty Budowlane SA WAR:LBD
31 GF Score
Price zł0.90
GF Value zł0.38
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Lokaty Budowlane Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Lokaty Budowlane  (WAR:LBD) 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.


Lokaty Budowlane Cyclically Adjusted PB Ratio Related Terms


Lokaty Budowlane Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Lokaty Budowlane'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.

Lokaty Budowlane Cyclically Adjusted PB Ratio Chart

Lokaty Budowlane Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 41.95 0.00 0.00 0.00 0.00

Lokaty Budowlane Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 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 0.00 0.00 0.00 0.00 0.00

WAR:LBD vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio Comparison

For the Real Estate Services subindustry, Lokaty Budowlane'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.


Lokaty Budowlane Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Lokaty Budowlane's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:LBD
31GF Score
Lokaty Budowlane SA WAR:LBD
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Lokaty Budowlane 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.

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

For example, Lokaty Budowlane'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)
=-0.263/163.0700*163.0700
=-0.263

Current CPI (Mar. 2026) = 163.0700.

Lokaty Budowlane Quarterly Data

Book Value per Share CPI Adj_Book
201603 0.104 98.983 0.171
201606 0.096 99.552 0.157
201609 0.068 99.064 0.112
201612 0.027 100.366 0.044
201703 0.019 101.018 0.031
201706 0.004 101.180 0.006
201709 -0.014 101.343 -0.023
201712 -0.035 102.564 -0.056
201803 -0.038 102.564 -0.060
201806 -0.040 103.378 -0.063
201809 -0.080 103.378 -0.126
201812 -0.124 103.785 -0.195
201903 -0.126 104.274 -0.197
201906 -0.089 105.983 -0.137
201909 -0.090 105.983 -0.138
201912 -0.379 107.123 -0.577
202003 -0.380 109.076 -0.568
202006 -0.380 109.402 -0.566
202009 -0.389 109.320 -0.580
202012 -0.390 109.565 -0.580
202103 -0.414 112.658 -0.599
202106 -0.395 113.960 -0.565
202109 -0.285 115.588 -0.402
202112 -0.263 119.088 -0.360
202203 -0.265 125.031 -0.346
202206 -0.266 131.705 -0.329
202209 -0.269 135.531 -0.324
202212 -0.278 139.113 -0.326
202303 -0.281 145.950 -0.314
202306 -0.283 147.009 -0.314
202309 -0.279 146.113 -0.311
202312 -0.281 147.741 -0.310
202403 -0.273 149.044 -0.299
202406 -0.264 150.997 -0.285
202409 -0.230 153.439 -0.244
202412 -0.277 154.660 -0.292
202503 -0.229 157.021 -0.238
202506 -0.257 157.509 -0.266
202509 -0.266 158.000 -0.275
202603 -0.263 163.070 -0.263

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 Lokaty Budowlane (WAR:LBD) Overvalued in 2026?

Based on GuruFocus' analysis, Lokaty Budowlane stock appears to be overvalued. The current stock price of zł0.90 is trading 135.5% above its estimated GF Value™ of zł0.38. GuruFocus considers Lokaty Budowlane to be Significantly Overvalued.

Key valuation signals for WAR:LBD:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: zł0.38 vs. price of zł0.90 (135.5% above fair value)
  • GF Score™: 31/100 with 6 warning signs

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


Lokaty Budowlane Business Description

Address Popularna 19/2, Warsaw, POL, 02-473
Lokaty Budowlane SA is a development and construction company. The company is engaged in owning, operating and maintaining commercial buildings.
31GF Score

Get the complete analysis for WAR:LBD

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

zł0.90
Price
zł0.38
GF Value