Medicalgorithmics (WAR:MDG) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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:MDG Medicalgorithmics SA WAR:MDG
72 GF Score
Price zł25.45
GF Value zł29.85
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Medicalgorithmics Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Medicalgorithmics  (WAR:MDG) 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.


Medicalgorithmics Cyclically Adjusted PB Ratio Related Terms


Medicalgorithmics Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Medicalgorithmics'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.

Medicalgorithmics Cyclically Adjusted PB Ratio Chart

Medicalgorithmics 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 0.41 0.24 0.58 0.33 0.69

Medicalgorithmics 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 0.48 0.46 0.75 0.65 0.53

WAR:MDG vs ABT, SYK, MDT: Cyclically Adjusted PB Ratio Comparison

For the Medical Devices subindustry, Medicalgorithmics'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.


Medicalgorithmics Cyclically Adjusted PB Ratio vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Medicalgorithmics's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:MDG
72GF Score
Medicalgorithmics SA WAR:MDG
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Medicalgorithmics 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.

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

For example, Medicalgorithmics'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)
=6.324/163.0700*163.0700
=6.324

Current CPI (Mar. 2026) = 163.0700.

Medicalgorithmics Quarterly Data

Book Value per Share CPI Adj_Book
201606 37.092 99.552 60.758
201609 37.240 99.064 61.301
201612 59.599 100.366 96.833
201703 57.305 101.018 92.506
201706 55.456 101.180 89.377
201709 57.752 101.343 92.928
201712 56.490 102.564 89.815
201803 56.800 102.564 90.308
201806 61.505 103.378 97.019
201809 61.308 103.378 96.708
201812 63.985 103.785 100.535
201903 66.584 104.274 104.129
201906 62.939 105.983 96.841
201909 66.336 105.983 102.068
201912 62.310 107.123 94.853
202003 65.010 109.076 97.191
202006 54.320 109.402 80.967
202009 51.320 109.320 76.553
202012 47.914 109.565 71.313
202103 49.409 112.658 71.519
202106 47.635 113.960 68.163
202109 48.845 115.588 68.910
202112 9.524 119.088 13.041
202203 -1.686 125.031 -2.199
202206 131.705 0.000
202209 3.049 135.531 3.669
202212 9.513 139.113 11.151
202303 8.564 145.950 9.569
202306 9.433 147.009 10.464
202309 9.438 146.113 10.533
202312 9.301 147.741 10.266
202403 8.906 149.044 9.744
202406 8.388 150.997 9.059
202409 8.150 153.439 8.662
202412 7.755 154.660 8.177
202503 7.299 157.021 7.580
202506 7.004 157.509 7.251
202509 6.621 158.000 6.833
202512 6.494 158.320 6.689
202603 6.324 163.070 6.324

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 Medicalgorithmics (WAR:MDG) Overvalued in 2026?

Based on GuruFocus' analysis, Medicalgorithmics stock appears to be undervalued. The current stock price of zł25.45 is trading 14.7% below its estimated GF Value™ of zł29.85. GuruFocus considers Medicalgorithmics to be Modestly Undervalued.

Key valuation signals for WAR:MDG:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: zł29.85 vs. price of zł25.45 (14.7% below fair value)
  • GF Score™: 72/100 with 4 warning signs

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


Medicalgorithmics Business Description

Address Al Jerozolimskie 81, 19 Floor, Central Tower Building, Warsaw, POL, 02-001
Medicalgorithmics SA is a medical technology company. It is engaged in the development of Digital Signal Processing (DSP) algorithms development and software and hardware electronics design for medical applications. The company specializes in providing advance technological solutions in the field of cardiac diagnostics, with a particular focus on ECG signal analysis. The group concentrates on the production and development of its flagship product Pocket ECG - a system for remote monitoring of cardiac arrhythmias. The offered solutions include algorithms and diagnostic systems used in remote heart monitoring. The company operates in Poland, the USA, and other, with majority of revenue from the USA.
72GF Score

Get the complete analysis for WAR:MDG

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

zł25.45
Price
zł29.85
GF Value