Orzel Bialy (WAR:OBL) Cyclically Adjusted PB Ratio: 1.25 (As of Aug. 17, 2026) — Near 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:OBL Orzel Bialy SA WAR:OBL
78 GF Score
Price zł39.60
GF Value zł26.76
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Orzel Bialy Cyclically Adjusted PB Ratio?

Orzel Bialy WAR:OBL +0.51% 78 Cyclically Adjusted PB Ratio is 1.25 as of Aug. 17, 2026, which is 2% above its 10-year median of 1.22. GuruFocus rates WAR:OBL with a GF Score™ of 78/100 and a GF Value™ of zł26.76 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 161 Waste Management companies, Orzel Bialy ranks better than 55.9% on this metric.

As of today (2026-08-17), Orzel Bialy's current share price is zł39.60. Orzel Bialy's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was zł31.65. Orzel Bialy's Cyclically Adjusted PB Ratio for today is 1.25.

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

WAR:OBL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.46   Med: 1.22   Max: 1.52
Current: 1.25

During the past years, Orzel Bialy's highest Cyclically Adjusted PB Ratio was 1.52. The lowest was 0.46. And the median was 1.22.

WAR:OBL's Cyclically Adjusted PB Ratio is ranked better than
55.9% of 161 companies
in the Waste Management industry
Industry Median: 1.7 vs WAR:OBL: 1.25

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.

Orzel Bialy's adjusted book value per share data for the three months ended in Mar. 2026 was zł44.505. 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 zł31.65 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Orzel Bialy  (WAR:OBL) 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.


Orzel Bialy Cyclically Adjusted PB Ratio Related Terms


Orzel Bialy Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Orzel Bialy'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.

Orzel Bialy Cyclically Adjusted PB Ratio Chart

Orzel Bialy 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 1.37 1.26 1.41 1.18 1.19

Orzel Bialy 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 1.23 1.28 1.25 1.19 1.07

WAR:OBL vs WM, RSG, WCN: Cyclically Adjusted PB Ratio Comparison

For the Waste Management subindustry, Orzel Bialy'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.


Orzel Bialy Cyclically Adjusted PB Ratio vs Waste Management Industry

For the Waste Management industry and Industrials sector, Orzel Bialy's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WAR:OBL
78GF Score
Orzel Bialy SA WAR:OBL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Orzel Bialy 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.

Orzel Bialy's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=39.60/31.65
=1.25

* 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.

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

For example, Orzel Bialy'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)
=44.505/163.0700*163.0700
=44.505

Current CPI (Mar. 2026) = 163.0700.

Orzel Bialy Quarterly Data

Book Value per Share CPI Adj_Book
201606 15.158 99.552 24.829
201609 14.702 99.064 24.201
201612 14.334 100.366 23.289
201703 14.705 101.018 23.738
201706 15.093 101.180 24.325
201709 15.229 101.343 24.505
201712 15.724 102.564 25.000
201803 16.102 102.564 25.601
201806 14.973 103.378 23.619
201809 15.800 103.378 24.923
201812 15.370 103.785 24.150
201903 15.649 104.274 24.473
201906 15.868 105.983 24.415
201909 15.741 105.983 24.220
201912 16.984 107.123 25.854
202003 17.111 109.076 25.581
202006 17.228 109.402 25.679
202009 17.991 109.320 26.837
202012 19.374 109.565 28.835
202103 20.288 112.658 29.367
202106 20.844 113.960 29.827
202109 22.353 115.588 31.535
202112 23.195 119.088 31.761
202203 24.935 125.031 32.521
202206 26.984 131.705 33.410
202209 27.598 135.531 33.206
202212 29.117 139.113 34.131
202303 31.350 145.950 35.027
202306 32.831 147.009 36.418
202309 33.806 146.113 37.729
202312 36.152 147.741 39.903
202403 37.301 149.044 40.811
202406 37.285 150.997 40.266
202409 39.210 153.439 41.671
202412 40.910 154.660 43.135
202503 42.471 157.021 44.107
202506 41.846 157.509 43.323
202509 42.682 158.000 44.052
202512 43.862 158.320 45.178
202603 44.505 163.070 44.505

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 1.25 mean?
Orzel Bialy (WAR:OBL) has a Cyclically Adjusted PB Ratio of 1.25 as of Aug. 17, 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 Orzel Bialy and its competitors. This is near median its historical median of 1.22. Over the past decade, Orzel Bialy's Cyclically Adjusted PB Ratio has ranged from 0.46 to 1.52. According to the industry distribution chart, Orzel Bialy ranks #71 out of 161 companies in the Waste Management industry, placing it in the top 44.1%.
Is Orzel Bialy's Cyclically Adjusted PB Ratio too high?
Orzel Bialy's current Cyclically Adjusted PB Ratio of 1.25 is near median its 10-year median of 1.22. Over the past 10 years, this metric has ranged from a low of 0.46 to a high of 1.52. The Waste Management industry median Cyclically Adjusted PB Ratio is 1.70. Orzel Bialy's value of 1.25 is 26.5% below this industry median. Based on the distribution chart, Orzel Bialy ranks #71 out of 161 companies in the Waste Management industry, which is above the industry midpoint. Overall, Orzel Bialy has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Orzel Bialy's Cyclically Adjusted PB Ratio compare to WM and RSG?
According to the Waste Management industry distribution chart, Orzel Bialy ranks #71 out of 161 companies for Cyclically Adjusted PB Ratio. This puts Orzel Bialy in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.70. Orzel Bialy's value of 1.25 is 26.5% below this benchmark. Historically, Orzel Bialy's own Cyclically Adjusted PB Ratio has ranged from 0.46 to 1.52 over the past decade. While the company's 10-year median is 1.22 vs. the industry median of 1.70, Orzel Bialy 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 a Waste Management company?
The median Cyclically Adjusted PB Ratio among Waste Management companies is 1.70, based on 161 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. Orzel Bialy's current Cyclically Adjusted PB Ratio of 1.25 is 26.5% 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 Orzel Bialy and its competitors. For the Waste Management industry, the median Cyclically Adjusted PB Ratio is 1.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Orzel Bialy's current Cyclically Adjusted PB Ratio is 1.25, which is near median its own 10-year median of 1.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Orzel Bialy stock overvalued right now?
Based on GuruFocus' analysis, Orzel Bialy (WAR:OBL) is currently considered Significantly Overvalued. The stock's GF Value™ is zł26.76, compared to a current price of zł39.60 — trading 48% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.25, which is near median its 10-year median of 1.22 and 26.5% below the Waste Management industry median of 1.70. Orzel Bialy's overall GF Score™ is 78/100 with 5 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 Orzel Bialy (WAR:OBL), the current Cyclically Adjusted PB Ratio is 1.25 as of Aug. 17, 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 Orzel Bialy (WAR:OBL) Overvalued in 2026?

Based on GuruFocus' analysis, Orzel Bialy stock appears to be overvalued. The current stock price of zł39.60 is trading 48% above its estimated GF Value™ of zł26.76. GuruFocus considers Orzel Bialy to be Significantly Overvalued.

Key valuation signals for WAR:OBL:

  • Cyclically Adjusted PB Ratio: 1.25 (near median its 10-year median of 1.22)
  • GF Value™: zł26.76 vs. price of zł39.60 (48% above fair value)
  • GF Score™: 78/100 with 5 warning signs
  • Industry Position: 26.5% below the Waste Management median (#71 of 161)

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


Orzel Bialy Business Description

Address ul. Rozdzienskiego 24, Piekary Slaskie, POL, 41-946
Orzel Bialy SA is a Poland based company engaged in recycling of used batteries. The company delivers its products to battery making companies, with batteries and accumulators supplied mainly to the automotive industry.
78GF Score

Get the complete analysis for WAR:OBL

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

zł39.60
Price
zł26.76
GF Value