Mera (WAR:MER) 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:MER Mera SA WAR:MER
64 GF Score
Price zł1.08
GF Value zł1.40
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Mera Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Mera  (WAR:MER) 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.


Mera Cyclically Adjusted PB Ratio Related Terms


Mera Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for Mera'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.

Mera Cyclically Adjusted PB Ratio Chart

Mera Annual Data
Trend Dec15 Dec16 Dec17 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
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Mera 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 0.23 0.20 0.19 0.16 0.16

WAR:MER vs SN, SGI, MHK: Cyclically Adjusted PB Ratio Comparison

For the Furnishings, Fixtures & Appliances subindustry, Mera'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.


Mera Cyclically Adjusted PB Ratio vs Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Mera's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:MER
64GF Score
Mera SA WAR:MER
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mera 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.

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

For example, Mera'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)
=3.871/162.2800*162.2800
=3.871

Current CPI (Jun. 2026) = 162.2800.

Mera Quarterly Data

Book Value per Share CPI Adj_Book
201606 5.610 99.552 9.145
201609 5.663 99.064 9.277
201612 5.625 100.366 9.095
201703 5.710 101.018 9.173
201706 5.720 101.180 9.174
201709 5.676 101.343 9.089
201712 5.953 102.564 9.419
201803 4.262 102.564 6.743
201806 4.316 103.378 6.775
201809 4.317 103.378 6.777
201903 4.348 104.274 6.767
201906 4.349 105.983 6.659
201909 4.349 105.983 6.659
201912 4.354 107.123 6.596
202003 4.365 109.076 6.494
202006 4.259 109.402 6.318
202009 4.288 109.320 6.365
202012 4.372 109.565 6.476
202103 4.380 112.658 6.309
202106 4.422 113.960 6.297
202109 4.425 115.588 6.212
202112 4.519 119.088 6.158
202203 4.540 125.031 5.893
202206 4.569 131.705 5.630
202209 4.574 135.531 5.477
202212 4.559 139.113 5.318
202303 4.568 145.950 5.079
202306 4.582 147.009 5.058
202309 4.583 146.113 5.090
202312 4.565 147.741 5.014
202403 4.566 149.044 4.972
202406 4.566 150.997 4.907
202409 3.927 153.439 4.153
202412 3.918 154.660 4.111
202503 3.971 157.021 4.104
202506 3.925 157.509 4.044
202509 3.927 158.000 4.033
202512 3.889 158.320 3.986
202603 3.907 163.070 3.888
202606 3.871 162.280 3.871

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 Mera (WAR:MER) Overvalued in 2026?

Based on GuruFocus' analysis, Mera stock appears to be undervalued. The current stock price of zł1.08 is trading 22.9% below its estimated GF Value™ of zł1.40. GuruFocus considers Mera to be Modestly Undervalued.

Key valuation signals for WAR:MER:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: zł1.40 vs. price of zł1.08 (22.9% below fair value)
  • GF Score™: 64/100 with 3 warning signs

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


Mera Business Description

Address ul. Sikorskiego 3, Lewin Brzeski, POL, 49-340
Mera SA is engaged in the design and manufacture of wooden stairs. The company's product portfolio includes stairs, railings, accessories, wood, and furniture.
64GF Score

Get the complete analysis for WAR:MER

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

zł1.08
Price
zł1.40
GF Value