Mennica Skarbowa (WAR:MNS) Cyclically Adjusted PB Ratio: 1.45 (As of Aug. 20, 2026) — 45% Below Median

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:MNS Mennica Skarbowa SA WAR:MNS
69 GF Score
Price zł50.20
GF Value zł101.86
Valuation Possible Value Trap
! 2 Warning Signs
View Full Analysis

What is Mennica Skarbowa Cyclically Adjusted PB Ratio?

Mennica Skarbowa WAR:MNS -0.40% 69 Cyclically Adjusted PB Ratio is 1.45 as of Aug. 20, 2026, which is 45% below its 10-year median of 2.64. GuruFocus rates WAR:MNS with a GF Score™ of 69/100 and a GF Value™ of zł101.86 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 788 Retail - Cyclical companies, Mennica Skarbowa ranks worse than 56.73% on this metric.

As of today (2026-08-20), Mennica Skarbowa's current share price is zł50.20. Mennica Skarbowa's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was zł34.62. Mennica Skarbowa's Cyclically Adjusted PB Ratio for today is 1.45.

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

WAR:MNS' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.46   Med: 2.64   Max: 18.64
Current: 1.46

During the past years, Mennica Skarbowa's highest Cyclically Adjusted PB Ratio was 18.64. The lowest was 1.46. And the median was 2.64.

WAR:MNS's Cyclically Adjusted PB Ratio is ranked worse than
56.73% of 788 companies
in the Retail - Cyclical industry
Industry Median: 1.2 vs WAR:MNS: 1.46

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.

Mennica Skarbowa's adjusted book value per share data for the three months ended in Mar. 2026 was zł75.103. 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 zł34.62 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Mennica Skarbowa  (WAR:MNS) 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.


Mennica Skarbowa Cyclically Adjusted PB Ratio Related Terms


Mennica Skarbowa Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Mennica Skarbowa'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.

Mennica Skarbowa Cyclically Adjusted PB Ratio Chart

Mennica Skarbowa 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 14.43 5.56 2.93 1.50 1.80

Mennica Skarbowa 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 2.12 1.85 1.95 1.80 1.74

WAR:MNS vs TPR, SIG: Cyclically Adjusted PB Ratio Comparison

For the Luxury Goods subindustry, Mennica Skarbowa'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.


Mennica Skarbowa Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Mennica Skarbowa's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:MNS
69GF Score
Mennica Skarbowa SA WAR:MNS
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mennica Skarbowa 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.

Mennica Skarbowa's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=50.20/34.62
=1.45

* 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.

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

For example, Mennica Skarbowa'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)
=75.103/163.0700*163.0700
=75.103

Current CPI (Mar. 2026) = 163.0700.

Mennica Skarbowa Quarterly Data

Book Value per Share CPI Adj_Book
201606 2.119 99.552 3.471
201609 2.347 99.064 3.863
201612 2.659 100.366 4.320
201703 2.957 101.018 4.773
201706 3.281 101.180 5.288
201709 3.339 101.343 5.373
201712 3.174 102.564 5.046
201803 3.195 102.564 5.080
201806 2.868 103.378 4.524
201809 3.366 103.378 5.310
201812 4.357 103.785 6.846
201903 3.537 104.274 5.531
201906 4.215 105.983 6.485
201909 6.170 105.983 9.493
201912 7.717 107.123 11.747
202003 13.385 109.076 20.011
202006 15.990 109.402 23.834
202009 22.293 109.320 33.254
202012 22.134 109.565 32.943
202103 29.427 112.658 42.595
202106 21.372 113.960 30.582
202109 27.174 115.588 38.337
202112 33.372 119.088 45.697
202203 50.026 125.031 65.246
202206 52.077 131.705 64.479
202209 55.836 135.531 67.181
202212 53.047 139.113 62.182
202303 56.110 145.950 62.692
202306 53.873 147.009 59.759
202309 49.437 146.113 55.174
202312 44.661 147.741 49.295
202403 49.709 149.044 54.387
202406 52.570 150.997 56.773
202409 54.129 153.439 57.527
202412 52.275 154.660 55.118
202503 54.421 157.021 56.518
202506 56.576 157.509 58.573
202509 60.515 158.000 62.457
202512 66.047 158.320 68.029
202603 75.103 163.070 75.103

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 1.45 mean?
Mennica Skarbowa (WAR:MNS) has a Cyclically Adjusted PB Ratio of 1.45 as of Aug. 20, 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 Mennica Skarbowa and its competitors. This is 45% below median its historical median of 2.64. Over the past decade, Mennica Skarbowa's Cyclically Adjusted PB Ratio has ranged from 1.46 to 18.64. According to the industry distribution chart, Mennica Skarbowa ranks #447 out of 788 companies in the Retail - Cyclical industry, placing it in the top 56.7%.
Is Mennica Skarbowa's Cyclically Adjusted PB Ratio too high?
Mennica Skarbowa's current Cyclically Adjusted PB Ratio of 1.45 is 45% below median its 10-year median of 2.64. Over the past 10 years, this metric has ranged from a low of 1.46 to a high of 18.64. The Retail - Cyclical industry median Cyclically Adjusted PB Ratio is 1.20. Mennica Skarbowa's value of 1.45 is 20.8% above this industry median. Based on the distribution chart, Mennica Skarbowa ranks #447 out of 788 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Mennica Skarbowa has a GF Score™ of 69/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Mennica Skarbowa's Cyclically Adjusted PB Ratio compare to TPR and SIG?
According to the Retail - Cyclical industry distribution chart, Mennica Skarbowa ranks #447 out of 788 companies for Cyclically Adjusted PB Ratio. This places Mennica Skarbowa in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.20. Mennica Skarbowa's value of 1.45 is 20.8% above this benchmark. Historically, Mennica Skarbowa's own Cyclically Adjusted PB Ratio has ranged from 1.46 to 18.64 over the past decade. While the company's 10-year median is 2.64 vs. the industry median of 1.20, Mennica Skarbowa has consistently been above 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 Retail - Cyclical company?
The median Cyclically Adjusted PB Ratio among Retail - Cyclical companies is 1.20, based on 788 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. Mennica Skarbowa's current Cyclically Adjusted PB Ratio of 1.45 is 20.8% above 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 Mennica Skarbowa and its competitors. For the Retail - Cyclical industry, the median Cyclically Adjusted PB Ratio is 1.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mennica Skarbowa's current Cyclically Adjusted PB Ratio is 1.45, which is 45% below median its own 10-year median of 2.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mennica Skarbowa stock overvalued right now?
Based on GuruFocus' analysis, Mennica Skarbowa (WAR:MNS) is currently considered Possible Value Trap. The stock's GF Value™ is zł101.86, compared to a current price of zł50.20 — trading 50.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.45, which is 45% below median its 10-year median of 2.64 and 20.8% above the Retail - Cyclical industry median of 1.20. Mennica Skarbowa's overall GF Score™ is 69/100 with 2 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 Mennica Skarbowa (WAR:MNS), the current Cyclically Adjusted PB Ratio is 1.45 as of Aug. 20, 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 Mennica Skarbowa (WAR:MNS) Overvalued in 2026?

Based on GuruFocus' analysis, Mennica Skarbowa stock appears to be undervalued. The current stock price of zł50.20 is trading 50.7% below its estimated GF Value™ of zł101.86. GuruFocus considers Mennica Skarbowa to be Possible Value Trap.

Key valuation signals for WAR:MNS:

  • Cyclically Adjusted PB Ratio: 1.45 (45% below median its 10-year median of 2.64)
  • GF Value™: zł101.86 vs. price of zł50.20 (50.7% below fair value)
  • GF Score™: 69/100 with 2 warning signs
  • Industry Position: 20.8% above the Retail - Cyclical median (#447 of 788)

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


Mennica Skarbowa Business Description

Other Exchanges 98S:Germany
Address Ulica Jasna 1, Warsaw, POL, 00-013
Mennica Skarbowa SA is an investment company in Poland. The company markets and sells capital goods such as gold, diamonds, silver as well as advice to diversify the investment portfolio of alternative investments.
69GF Score

Get the complete analysis for WAR:MNS

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

zł50.20
Price
zł101.86
GF Value