Onico (WAR:ONC) Cyclically Adjusted PB Ratio: (As of Sep. 17, 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.
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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:ONC Onico SA WAR:ONC
68 GF Score
Price zł11.50
GF Value zł12.54
Valuation Fairly Valued
! 7 Warning Signs
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What is Onico Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Onico  (WAR:ONC) 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.


Onico Cyclically Adjusted PB Ratio Related Terms


Onico Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Onico'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.

Onico Cyclically Adjusted PB Ratio Chart

Onico 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 0.00 0.00 0.00 0.00 0.00

Onico 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 0.00 0.00 0.00 0.00 0.00

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

For the Oil & Gas Refining & Marketing subindustry, Onico'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.


Onico Cyclically Adjusted PB Ratio vs Oil & Gas Industry

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

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


WAR:ONC
68GF Score
Onico SA WAR:ONC
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Onico 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.

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

For example, Onico'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)
=-94.535/162.2800*162.2800
=-94.535

Current CPI (Jun. 2026) = 162.2800.

Onico Quarterly Data

Book Value per Share CPI Adj_Book
201609 7.323 99.064 11.996
201612 8.234 100.366 13.313
201703 8.536 101.018 13.713
201706 8.374 101.180 13.431
201709 9.596 101.343 15.366
201712 9.000 102.564 14.240
201803 10.206 102.564 16.148
201806 8.933 103.378 14.023
201809 9.195 103.378 14.434
201812 1.224 103.785 1.914
201903 9.321 104.274 14.506
201906 1.200 105.983 1.837
201909 -10.351 105.983 -15.849
201912 -14.532 107.123 -22.015
202003 -10.625 109.076 -15.808
202006 -10.876 109.402 -16.133
202009 -11.385 109.320 -16.900
202012 -18.888 109.565 -27.976
202103 -13.010 112.658 -18.741
202106 -13.236 113.960 -18.848
202109 -13.143 115.588 -18.452
202112 -22.217 119.088 -30.275
202203 -21.410 125.031 -27.789
202206 -20.197 131.705 -24.886
202209 -19.166 135.531 -22.949
202212 -20.770 139.113 -24.229
202303 -19.932 145.950 -22.162
202306 -19.373 147.009 -21.386
202309 -18.556 146.113 -20.609
202312 -109.262 147.741 -120.014
202403 -111.084 149.044 -120.949
202406 -111.818 150.997 -120.173
202409 -110.135 153.439 -116.481
202412 -113.877 154.660 -119.487
202503 -107.631 157.021 -111.236
202506 -103.031 157.509 -106.152
202509 -99.910 158.000 -102.616
202512 -98.644 158.320 -101.111
202603 -96.983 163.070 -96.513
202606 -94.535 162.280 -94.535

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 Onico (WAR:ONC) Overvalued in 2026?

Based on GuruFocus' analysis, Onico stock appears to be undervalued. The current stock price of zł11.50 is trading 8.3% below its estimated GF Value™ of zł12.54. GuruFocus considers Onico to be Fairly Valued.

Key valuation signals for WAR:ONC:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: zł12.54 vs. price of zł11.50 (8.3% below fair value)
  • GF Score™: 68/100 with 7 warning signs

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


Onico Business Description

Industry EnergyOil & Gas
Address ul Dzieci Warszawy 21 e lok. 4, Warszawa, POL, 02-495
Onico SA is involved in supplying energy products in Poland. The company sells LPG, diesel, bitumen, natural gas, industrial oils, and biofuels, as well as metals and metal ores.
68GF Score

Get the complete analysis for WAR:ONC

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

zł11.50
Price
zł12.54
GF Value