Milisystem (WAR:MLM) 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:MLM Milisystem SA WAR:MLM
29 GF Score
Price zł0.44
GF Value zł0.18
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is Milisystem Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Milisystem  (WAR:MLM) 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.


Milisystem Cyclically Adjusted PB Ratio Related Terms


Milisystem Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Milisystem'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.

Milisystem Cyclically Adjusted PB Ratio Chart

Milisystem 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 - - - - 6.83

Milisystem 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 - - 6.83 6.54 4.82

WAR:MLM vs CRM, SHOP, UBER: Cyclically Adjusted PB Ratio Comparison

For the Software - Application subindustry, Milisystem'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.


Milisystem Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Milisystem's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:MLM
29GF Score
Milisystem SA WAR:MLM
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Milisystem 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.

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

For example, Milisystem'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)
=0.126/162.2800*162.2800
=0.126

Current CPI (Jun. 2026) = 162.2800.

Milisystem Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.030 99.064 0.049
201612 0.030 100.366 0.049
201703 0.026 101.018 0.042
201706 0.025 101.180 0.040
201709 0.025 101.343 0.040
201712 0.030 102.564 0.047
201803 0.030 102.564 0.047
201806 0.029 103.378 0.046
201809 0.028 103.378 0.044
201812 0.017 103.785 0.027
201903 0.025 104.274 0.039
201906 0.017 105.983 0.026
201909 0.017 105.983 0.026
201912 0.016 107.123 0.024
202003 0.014 109.076 0.021
202006 0.014 109.402 0.021
202009 0.013 109.320 0.019
202012 0.009 109.565 0.013
202103 0.007 112.658 0.010
202106 0.005 113.960 0.007
202109 0.002 115.588 0.003
202112 0.003 119.088 0.004
202203 0.003 125.031 0.004
202206 -0.005 131.705 -0.006
202209 0.001 135.531 0.001
202212 0.001 139.113 0.001
202303 -0.006 145.950 -0.007
202306 -0.019 147.009 -0.021
202309 -0.021 146.113 -0.023
202312 0.084 147.741 0.092
202403 0.093 149.044 0.101
202406 0.057 150.997 0.061
202409 0.050 153.439 0.053
202412 0.077 154.660 0.081
202503 0.066 157.021 0.068
202506 0.090 157.509 0.093
202509 0.256 158.000 0.263
202512 0.136 158.320 0.139
202603 0.131 163.070 0.130
202606 0.126 162.280 0.126

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 Milisystem (WAR:MLM) Overvalued in 2026?

Based on GuruFocus' analysis, Milisystem stock appears to be overvalued. The current stock price of zł0.44 is trading 144.4% above its estimated GF Value™ of zł0.18. GuruFocus considers Milisystem to be Significantly Overvalued.

Key valuation signals for WAR:MLM:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: zł0.18 vs. price of zł0.44 (144.4% above fair value)
  • GF Score™: 29/100 with 4 warning signs

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


Milisystem Business Description

Address ul. Jasielska 16, Poznan, POL, 60-476
Milisystem SA is a manufacturer and supplier of information technology to support decision-making processes at every level of management in the company.
29GF Score

Get the complete analysis for WAR:MLM

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

zł0.44
Price
zł0.18
GF Value