LARQ (WAR:LRQ) Cyclically Adjusted PB Ratio: 0.24 (As of Jul. 25, 2026) — 26% Above Median

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:LRQ LARQ SA WAR:LRQ
59 GF Score
Price zł2.65
GF Value zł2.06
Valuation Modestly Overvalued
! 5 Warning Signs
View Full Analysis

What is LARQ Cyclically Adjusted PB Ratio?

LARQ WAR:LRQ 59 Cyclically Adjusted PB Ratio is 0.24 as of Jul. 25, 2026, which is 26% above its 10-year median of 0.19. GuruFocus rates WAR:LRQ with a GF Score™ of 59/100 and a GF Value™ of zł2.06 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 713 Media - Diversified companies, LARQ ranks better than 87.94% on this metric.

As of today (2026-07-25), LARQ's current share price is zł2.65. LARQ's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was zł11.20. LARQ's Cyclically Adjusted PB Ratio for today is 0.24.

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

WAR:LRQ' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.1   Med: 0.19   Max: 0.7
Current: 0.25

During the past years, LARQ's highest Cyclically Adjusted PB Ratio was 0.70. The lowest was 0.10. And the median was 0.19.

WAR:LRQ's Cyclically Adjusted PB Ratio is ranked better than
87.94% of 713 companies
in the Media - Diversified industry
Industry Median: 0.98 vs WAR:LRQ: 0.25

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.

LARQ's adjusted book value per share data for the three months ended in Mar. 2026 was zł4.676. 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 zł11.20 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


LARQ  (WAR:LRQ) 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.


LARQ Cyclically Adjusted PB Ratio Related Terms


LARQ Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for LARQ'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.

LARQ Cyclically Adjusted PB Ratio Chart

LARQ 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 0.16 0.12 0.15 0.19 0.16

LARQ 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 0.18 0.17 0.20 0.16 0.18

WAR:LRQ vs APP, OMC, TTD: Cyclically Adjusted PB Ratio Comparison

For the Advertising Agencies subindustry, LARQ'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.


LARQ Cyclically Adjusted PB Ratio vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, LARQ's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:LRQ
59GF Score
LARQ SA WAR:LRQ
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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LARQ 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=2.65/11.20
=0.24

* 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.

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

For example, LARQ'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)
=4.676/163.0700*163.0700
=4.676

Current CPI (Mar. 2026) = 163.0700.

LARQ Quarterly Data

Book Value per Share CPI Adj_Book
201606 2.113 99.552 3.461
201609 2.308 99.064 3.799
201612 12.780 100.366 20.764
201703 0.000 101.018 0.000
201706 13.864 101.180 22.344
201709 16.008 101.343 25.758
201712 17.564 102.564 27.926
201803 19.495 102.564 30.996
201806 17.220 103.378 27.163
201809 15.185 103.378 23.953
201812 15.097 103.785 23.721
201903 14.241 104.274 22.271
201906 13.800 105.983 21.233
201909 12.692 105.983 19.528
201912 11.479 107.123 17.474
202003 8.797 109.076 13.152
202006 8.644 109.402 12.884
202009 6.483 109.320 9.671
202012 5.200 109.565 7.739
202103 5.081 112.658 7.355
202106 4.661 113.960 6.670
202109 4.354 115.588 6.143
202112 4.338 119.088 5.940
202203 4.283 125.031 5.586
202206 4.487 131.705 5.556
202209 3.336 135.531 4.014
202212 3.182 139.113 3.730
202303 3.300 145.950 3.687
202306 3.994 147.009 4.430
202309 3.936 146.113 4.393
202312 4.106 147.741 4.532
202403 4.415 149.044 4.830
202406 4.158 150.997 4.490
202409 3.927 153.439 4.173
202412 3.801 154.660 4.008
202503 3.957 157.021 4.109
202506 4.652 157.509 4.816
202509 4.916 158.000 5.074
202512 4.632 158.320 4.771
202603 4.676 163.070 4.676

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 0.24 mean?
LARQ (WAR:LRQ) has a Cyclically Adjusted PB Ratio of 0.24 as of Jul. 25, 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 LARQ and its competitors. This is 26% above median its historical median of 0.19. Over the past decade, LARQ's Cyclically Adjusted PB Ratio has ranged from 0.10 to 0.70. According to the industry distribution chart, LARQ ranks #86 out of 713 companies in the Media - Diversified industry, placing it in the top 12.1%.
Is LARQ's Cyclically Adjusted PB Ratio too high?
LARQ's current Cyclically Adjusted PB Ratio of 0.24 is 26% above median its 10-year median of 0.19. Over the past 10 years, this metric has ranged from a low of 0.10 to a high of 0.70. The Media - Diversified industry median Cyclically Adjusted PB Ratio is 0.98. LARQ's value of 0.24 is 75.5% below this industry median. Based on the distribution chart, LARQ ranks #86 out of 713 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, LARQ has a GF Score™ of 59/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does LARQ's Cyclically Adjusted PB Ratio compare to APP and OMC?
According to the Media - Diversified industry distribution chart, LARQ ranks #86 out of 713 companies for Cyclically Adjusted PB Ratio. This places LARQ in the top 12% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 0.98. LARQ's value of 0.24 is 75.5% below this benchmark. Historically, LARQ's own Cyclically Adjusted PB Ratio has ranged from 0.10 to 0.70 over the past decade. While the company's 10-year median is 0.19 vs. the industry median of 0.98, LARQ 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 Media - Diversified company?
The median Cyclically Adjusted PB Ratio among Media - Diversified companies is 0.98, based on 713 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. LARQ's current Cyclically Adjusted PB Ratio of 0.24 is 75.5% 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 LARQ and its competitors. For the Media - Diversified industry, the median Cyclically Adjusted PB Ratio is 0.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. LARQ's current Cyclically Adjusted PB Ratio is 0.24, which is 26% above median its own 10-year median of 0.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LARQ stock overvalued right now?
Based on GuruFocus' analysis, LARQ (WAR:LRQ) is currently considered Modestly Overvalued. The stock's GF Value™ is zł2.06, compared to a current price of zł2.65 — trading 28.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.24, which is 26% above median its 10-year median of 0.19 and 75.5% below the Media - Diversified industry median of 0.98. LARQ's overall GF Score™ is 59/100 with 5 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 LARQ (WAR:LRQ), the current Cyclically Adjusted PB Ratio is 0.24 as of Jul. 25, 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.

Is LARQ (WAR:LRQ) Overvalued in 2026?

Based on GuruFocus' analysis, LARQ stock appears to be overvalued. The current stock price of zł2.65 is trading 28.6% above its estimated GF Value™ of zł2.06. GuruFocus considers LARQ to be Modestly Overvalued.

Key valuation signals for WAR:LRQ:

  • Cyclically Adjusted PB Ratio: 0.24 (26% above median its 10-year median of 0.19)
  • GF Value™: zł2.06 vs. price of zł2.65 (28.6% above fair value)
  • GF Score™: 59/100 with 5 warning signs
  • Industry Position: 75.5% below the Media - Diversified median (#86 of 713)

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


LARQ Business Description

Address Ul. Tamka 16 Lok. U4, Warsaw, POL, 00-349
LARQ SA is a Poland based company involved in providing outdoor advertising media services. It engages in providing and servicing urban rental bike systems, as well as designing, manufacturing, and implementing marketing campaigns. The company also offers web and mobile solutions for supporting business and sales processes; and develops sales and marketing automation system under the CodeProud and YouLead brand names.
59GF 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.

zł2.65
Price
zł2.06
GF Value