Lena Lighting (WAR:LEN) Cyclically Adjusted PB Ratio: (As of Sep. 22, 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.
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.

WAR:LEN Lena Lighting SA WAR:LEN
73 GF Score
Price zł2.04
GF Value zł2.87
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Lena Lighting Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Lena Lighting  (WAR:LEN) 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.


Lena Lighting Cyclically Adjusted PB Ratio Related Terms


Lena Lighting Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Lena Lighting'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.

Lena Lighting Cyclically Adjusted PB Ratio Chart

Lena Lighting 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 1.04 0.77 0.69 0.52 0.49

Lena Lighting 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 0.51 0.55 0.49 0.43 0.41

WAR:LEN vs VRT, BE, HUBB: Cyclically Adjusted PB Ratio Comparison

For the Electrical Equipment & Parts subindustry, Lena Lighting'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.


Lena Lighting Cyclically Adjusted PB Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Lena Lighting's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:LEN
73GF Score
Lena Lighting SA WAR:LEN
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Lena Lighting 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.

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

For example, Lena Lighting'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)
=4.242/162.2800*162.2800
=4.242

Current CPI (Jun. 2026) = 162.2800.

Lena Lighting Quarterly Data

Book Value per Share CPI Adj_Book
201609 3.434 99.064 5.625
201612 3.574 100.366 5.779
201703 3.716 101.018 5.970
201706 3.475 101.180 5.573
201709 3.623 101.343 5.801
201712 3.703 102.564 5.859
201803 3.759 102.564 5.948
201806 3.656 103.378 5.739
201809 3.750 103.378 5.887
201812 3.844 103.785 6.011
201903 3.914 104.274 6.091
201906 3.667 105.983 5.615
201909 3.761 105.983 5.759
201912 3.792 107.123 5.745
202003 3.883 109.076 5.777
202006 3.604 109.402 5.346
202009 3.731 109.320 5.538
202012 3.985 109.565 5.902
202103 4.119 112.658 5.933
202106 3.837 113.960 5.464
202109 3.893 115.588 5.466
202112 4.057 119.088 5.528
202203 4.179 125.031 5.424
202206 4.145 131.705 5.107
202209 4.226 135.531 5.060
202212 4.353 139.113 5.078
202303 4.417 145.950 4.911
202306 4.271 147.009 4.715
202309 4.361 146.113 4.844
202312 4.532 147.741 4.978
202403 4.554 149.044 4.958
202406 4.330 150.997 4.654
202409 4.375 153.439 4.627
202412 4.431 154.660 4.649
202503 4.435 157.021 4.584
202506 4.376 157.509 4.509
202509 4.432 158.000 4.552
202512 4.413 158.320 4.523
202603 4.374 163.070 4.353
202606 4.242 162.280 4.242

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 Lena Lighting (WAR:LEN) Overvalued in 2026?

Based on GuruFocus' analysis, Lena Lighting stock appears to be undervalued. The current stock price of zł2.04 is trading 28.9% below its estimated GF Value™ of zł2.87. GuruFocus considers Lena Lighting to be Modestly Undervalued.

Key valuation signals for WAR:LEN:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: zł2.87 vs. price of zł2.04 (28.9% below fair value)
  • GF Score™: 73/100 with 6 warning signs

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


Lena Lighting Business Description

Address ul. Kornicka 52, Sroda Wielkopolska, POL, 63-000
Lena Lighting SA is a Poland based producer of professional, investment light fittings. Its products include surface-mounted wall and ceiling fitting for use with fluorescent tubes; one-sided and double-sided evacuation lighting fittings.
73GF Score

Get the complete analysis for WAR:LEN

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

zł2.04
Price
zł2.87
GF Value