MOL Hungarian Oil and Gas (WAR:MOL) Cyclically Adjusted PB Ratio: 1.01 (As of Sep. 01, 2026) — 49% Above 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:MOL MOL Hungarian Oil and Gas PLC WAR:MOL
60 GF Score
Price zł60.20
GF Value zł34.17
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is MOL Hungarian Oil and Gas Cyclically Adjusted PB Ratio?

MOL Hungarian Oil and Gas WAR:MOL -0.66% 60 Cyclically Adjusted PB Ratio is 1.01 as of Sep. 01, 2026, which is 49% above its 10-year median of 0.68. GuruFocus rates WAR:MOL with a GF Score™ of 60/100 and a GF Value™ of zł34.17 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 753 Oil & Gas companies, MOL Hungarian Oil and Gas ranks better than 56.84% on this metric.

As of today (2026-09-01), MOL Hungarian Oil and Gas's current share price is zł60.20. MOL Hungarian Oil and Gas's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was zł59.68. MOL Hungarian Oil and Gas's Cyclically Adjusted PB Ratio for today is 1.01.

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

WAR:MOL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.54   Med: 0.68   Max: 1.08
Current: 1.03

During the past years, MOL Hungarian Oil and Gas's highest Cyclically Adjusted PB Ratio was 1.08. The lowest was 0.54. And the median was 0.68.

WAR:MOL's Cyclically Adjusted PB Ratio is ranked better than
56.84% of 753 companies
in the Oil & Gas industry
Industry Median: 1.22 vs WAR:MOL: 1.03

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.

MOL Hungarian Oil and Gas's adjusted book value per share data for the three months ended in Jun. 2026 was zł60.740. 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 zł59.68 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


MOL Hungarian Oil and Gas  (WAR:MOL) 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.


MOL Hungarian Oil and Gas Cyclically Adjusted PB Ratio Related Terms


MOL Hungarian Oil and Gas Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for MOL Hungarian Oil and Gas'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.

MOL Hungarian Oil and Gas Cyclically Adjusted PB Ratio Chart

MOL Hungarian Oil and Gas 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 0.79 0.64 0.66 0.60 0.61

MOL Hungarian Oil and Gas 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 0.63 0.57 0.61 0.81 0.75

WAR:MOL vs MPC, VLO, PSX: Cyclically Adjusted PB Ratio Comparison

For the Oil & Gas Refining & Marketing subindustry, MOL Hungarian Oil and Gas'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.


MOL Hungarian Oil and Gas Cyclically Adjusted PB Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, MOL Hungarian Oil and Gas's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where MOL Hungarian Oil and Gas's Cyclically Adjusted PB Ratio falls into.


WAR:MOL
60GF Score
MOL Hungarian Oil and Gas PLC WAR:MOL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

MOL Hungarian Oil and Gas 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.

MOL Hungarian Oil and Gas's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=60.20/59.68
=1.01

* 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.

MOL Hungarian Oil and Gas's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, MOL Hungarian Oil and Gas'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)
=60.74/175.2800*175.2800
=60.740

Current CPI (Jun. 2026) = 175.2800.

MOL Hungarian Oil and Gas Quarterly Data

Book Value per Share CPI Adj_Book
201609 22.906 100.370 40.002
201612 23.206 101.406 40.111
201703 24.628 102.147 42.261
201706 25.636 102.724 43.743
201709 26.400 102.902 44.969
201712 27.768 103.627 46.968
201803 28.858 104.219 48.535
201806 34.377 105.922 56.887
201809 30.591 106.588 50.306
201812 31.580 106.440 52.004
201903 31.911 108.068 51.758
201906 32.231 109.475 51.605
201909 33.369 109.623 53.355
201912 33.188 110.659 52.569
202003 0.000 112.287 0.000
202006 34.031 112.583 52.983
202009 34.353 113.398 53.100
202012 41.864 113.694 64.541
202103 36.056 116.358 54.314
202106 44.733 118.579 66.123
202109 48.739 119.541 71.465
202112 52.228 122.058 75.002
202203 45.642 126.351 63.317
202206 48.789 132.420 64.580
202209 55.729 143.597 68.025
202212 53.483 152.036 61.660
202303 54.125 158.105 60.005
202306 52.093 158.993 57.429
202309 56.692 161.140 61.667
202312 57.978 160.400 63.357
202403 59.893 163.879 64.060
202406 65.472 164.841 69.618
202409 60.392 165.877 63.815
202412 62.457 167.802 65.241
202503 63.451 171.577 64.821
202506 61.193 172.391 62.219
202509 61.995 173.060 62.790
202512 61.862 173.280 62.576
202603 62.773 174.690 62.985
202606 60.740 175.280 60.740

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 1.01 mean?
MOL Hungarian Oil and Gas (WAR:MOL) has a Cyclically Adjusted PB Ratio of 1.01 as of Sep. 01, 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 MOL Hungarian Oil and Gas and its competitors. This is 49% above median its historical median of 0.68. Over the past decade, MOL Hungarian Oil and Gas' Cyclically Adjusted PB Ratio has ranged from 0.54 to 1.08. According to the industry distribution chart, MOL Hungarian Oil and Gas ranks #325 out of 753 companies in the Oil & Gas industry, placing it in the top 43.2%.
Is MOL Hungarian Oil and Gas' Cyclically Adjusted PB Ratio too high?
MOL Hungarian Oil and Gas' current Cyclically Adjusted PB Ratio of 1.01 is 49% above median its 10-year median of 0.68. Over the past 10 years, this metric has ranged from a low of 0.54 to a high of 1.08. The Oil & Gas industry median Cyclically Adjusted PB Ratio is 1.22. MOL Hungarian Oil and Gas' value of 1.01 is 17.2% below this industry median. Based on the distribution chart, MOL Hungarian Oil and Gas ranks #325 out of 753 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, MOL Hungarian Oil and Gas has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does MOL Hungarian Oil and Gas' Cyclically Adjusted PB Ratio compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, MOL Hungarian Oil and Gas ranks #325 out of 753 companies for Cyclically Adjusted PB Ratio. This puts MOL Hungarian Oil and Gas in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.22. MOL Hungarian Oil and Gas' value of 1.01 is 17.2% below this benchmark. Historically, MOL Hungarian Oil and Gas' own Cyclically Adjusted PB Ratio has ranged from 0.54 to 1.08 over the past decade. While the company's 10-year median is 0.68 vs. the industry median of 1.22, MOL Hungarian Oil and Gas 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 an Oil & Gas company?
The median Cyclically Adjusted PB Ratio among Oil & Gas companies is 1.22, based on 753 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. MOL Hungarian Oil and Gas's current Cyclically Adjusted PB Ratio of 1.01 is 17.2% 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 MOL Hungarian Oil and Gas and its competitors. For the Oil & Gas industry, the median Cyclically Adjusted PB Ratio is 1.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MOL Hungarian Oil and Gas's current Cyclically Adjusted PB Ratio is 1.01, which is 49% above median its own 10-year median of 0.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MOL Hungarian Oil and Gas stock overvalued right now?
Based on GuruFocus' analysis, MOL Hungarian Oil and Gas (WAR:MOL) is currently considered Significantly Overvalued. The stock's GF Value™ is zł34.17, compared to a current price of zł60.20 — trading 76.2% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.01, which is 49% above median its 10-year median of 0.68 and 17.2% below the Oil & Gas industry median of 1.22. MOL Hungarian Oil and Gas' overall GF Score™ is 60/100 with 6 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 MOL Hungarian Oil and Gas (WAR:MOL), the current Cyclically Adjusted PB Ratio is 1.01 as of Sep. 01, 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 MOL Hungarian Oil and Gas (WAR:MOL) Overvalued in 2026?

Based on GuruFocus' analysis, MOL Hungarian Oil and Gas stock appears to be overvalued. The current stock price of zł60.20 is trading 76.2% above its estimated GF Value™ of zł34.17. GuruFocus considers MOL Hungarian Oil and Gas to be Significantly Overvalued.

Key valuation signals for WAR:MOL:

  • Cyclically Adjusted PB Ratio: 1.01 (49% above median its 10-year median of 0.68)
  • GF Value™: zł34.17 vs. price of zł60.20 (76.2% above fair value)
  • GF Score™: 60/100 with 6 warning signs
  • Industry Position: 17.2% below the Oil & Gas median (#325 of 753)

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


MOL Hungarian Oil and Gas Business Description

Industry EnergyOil & Gas
Address Dombovari ut 28, Budapest, HUN, H-1117
MOL Hungarian Oil and Gas PLC is a multinational integrated oil and gas company. The group has various segments, including Upstream, Downstream, Consumer services, Gas midstream, Circular Economy and Corporate and others. The Downstream segment derives the majority of the revenue, which consists of different business activities that are part of an integrated value chain that turns crude oil into a range of refined products, which are moved and marketed for household, industrial, and transport use. Geographically, the firm derives key revenue from Hungary, Croatia, and Slovakia.
60GF Score

Get the complete analysis for WAR:MOL

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

zł60.20
Price
zł34.17
GF Value