S4E (WAR:S4E) Cyclically Adjusted PB Ratio: 6.24 (As of Aug. 20, 2026) — 249% Above Median

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Director of Data and Quant Analytics at GuruFocus
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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:S4E S4E SA WAR:S4E
73 GF Score
Price zł66.00
GF Value zł44.52
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is S4E Cyclically Adjusted PB Ratio?

S4E WAR:S4E +5.60% 73 Cyclically Adjusted PB Ratio is 6.24 as of Aug. 20, 2026, which is 249% above its 10-year median of 1.79. GuruFocus rates WAR:S4E with a GF Score™ of 73/100 and a GF Value™ of zł44.52 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,953 Hardware companies, S4E ranks worse than 79.16% on this metric.

As of today (2026-08-20), S4E's current share price is zł66.00. S4E's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was zł10.57. S4E's Cyclically Adjusted PB Ratio for today is 6.24.

The historical rank and industry rank for S4E's Cyclically Adjusted PB Ratio or its related term are showing as below:

WAR:S4E' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.45   Med: 1.79   Max: 5.35
Current: 5.11

During the past years, S4E's highest Cyclically Adjusted PB Ratio was 5.35. The lowest was 0.45. And the median was 1.79.

WAR:S4E's Cyclically Adjusted PB Ratio is ranked worse than
79.16% of 1953 companies
in the Hardware industry
Industry Median: 2.09 vs WAR:S4E: 5.11

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.

S4E's adjusted book value per share data for the three months ended in Mar. 2026 was zł23.304. 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 zł10.57 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


S4E  (WAR:S4E) 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.


S4E Cyclically Adjusted PB Ratio Related Terms


S4E Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for S4E'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.

S4E Cyclically Adjusted PB Ratio Chart

S4E 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 1.17 1.29 4.99 2.52 4.40

S4E 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 4.17 3.87 3.79 4.40 3.58

WAR:S4E vs SNX, ARW, AVT: Cyclically Adjusted PB Ratio Comparison

For the Electronics & Computer Distribution subindustry, S4E'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.


S4E Cyclically Adjusted PB Ratio vs Hardware Industry

For the Hardware industry and Technology sector, S4E's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where S4E's Cyclically Adjusted PB Ratio falls into.


WAR:S4E
73GF Score
S4E SA WAR:S4E
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

S4E 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.

S4E's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=66.00/10.57
=6.24

* 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.

S4E's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, S4E'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)
=23.304/163.0700*163.0700
=23.304

Current CPI (Mar. 2026) = 163.0700.

S4E Quarterly Data

Book Value per Share CPI Adj_Book
201606 8.349 99.552 13.676
201609 8.466 99.064 13.936
201612 6.993 100.366 11.362
201703 8.982 101.018 14.499
201706 9.005 101.180 14.513
201709 7.812 101.343 12.570
201712 5.946 102.564 9.454
201803 6.433 102.564 10.228
201806 4.914 103.378 7.751
201809 4.972 103.378 7.843
201812 3.742 103.785 5.880
201903 3.514 104.274 5.495
201906 2.953 105.983 4.544
201909 3.024 105.983 4.653
201912 2.724 107.123 4.147
202003 2.469 109.076 3.691
202006 2.482 109.402 3.700
202009 2.602 109.320 3.881
202012 2.984 109.565 4.441
202103 2.926 112.658 4.235
202106 3.070 113.960 4.393
202109 3.247 115.588 4.581
202112 4.599 119.088 6.298
202203 5.545 125.031 7.232
202206 6.914 131.705 8.561
202209 7.325 135.531 8.813
202212 8.067 139.113 9.456
202303 8.342 145.950 9.321
202306 10.501 147.009 11.648
202309 11.310 146.113 12.623
202312 12.674 147.741 13.989
202403 12.603 149.044 13.789
202406 13.874 150.997 14.983
202409 14.657 153.439 15.577
202412 16.730 154.660 17.640
202503 17.515 157.021 18.190
202506 18.549 157.509 19.204
202509 19.672 158.000 20.303
202512 21.667 158.320 22.317
202603 23.304 163.070 23.304

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 6.24 mean?
S4E (WAR:S4E) has a Cyclically Adjusted PB Ratio of 6.24 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 S4E and its competitors. This is 249% above median its historical median of 1.79. Over the past decade, S4E's Cyclically Adjusted PB Ratio has ranged from 0.45 to 5.35. According to the industry distribution chart, S4E ranks #1546 out of 1953 companies in the Hardware industry, placing it in the top 79.2%.
Is S4E's Cyclically Adjusted PB Ratio too high?
S4E's current Cyclically Adjusted PB Ratio of 6.24 is 249% above median its 10-year median of 1.79. Over the past 10 years, this metric has ranged from a low of 0.45 to a high of 5.35. The Hardware industry median Cyclically Adjusted PB Ratio is 2.09. S4E's value of 6.24 is 198.6% above this industry median. Based on the distribution chart, S4E ranks #1546 out of 1953 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, S4E has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does S4E's Cyclically Adjusted PB Ratio compare to SNX and ARW?
According to the Hardware industry distribution chart, S4E ranks #1546 out of 1953 companies for Cyclically Adjusted PB Ratio. This places S4E in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.09. S4E's value of 6.24 is 198.6% above this benchmark. Historically, S4E's own Cyclically Adjusted PB Ratio has ranged from 0.45 to 5.35 over the past decade. While the company's 10-year median is 1.79 vs. the industry median of 2.09, S4E 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 Hardware company?
The median Cyclically Adjusted PB Ratio among Hardware companies is 2.09, based on 1,953 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. S4E's current Cyclically Adjusted PB Ratio of 6.24 is 198.6% 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 S4E and its competitors. For the Hardware industry, the median Cyclically Adjusted PB Ratio is 2.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. S4E's current Cyclically Adjusted PB Ratio is 6.24, which is 249% above median its own 10-year median of 1.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is S4E stock overvalued right now?
Based on GuruFocus' analysis, S4E (WAR:S4E) is currently considered Significantly Overvalued. The stock's GF Value™ is zł44.52, compared to a current price of zł66.00 — trading 48.2% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 6.24, which is 249% above median its 10-year median of 1.79 and 198.6% above the Hardware industry median of 2.09. S4E's overall GF Score™ is 73/100 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 S4E (WAR:S4E), the current Cyclically Adjusted PB Ratio is 6.24 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 S4E (WAR:S4E) Overvalued in 2026?

Based on GuruFocus' analysis, S4E stock appears to be overvalued. The current stock price of zł66.00 is trading 48.2% above its estimated GF Value™ of zł44.52. GuruFocus considers S4E to be Significantly Overvalued.

Key valuation signals for WAR:S4E:

  • Cyclically Adjusted PB Ratio: 6.24 (249% above median its 10-year median of 1.79)
  • GF Value™: zł44.52 vs. price of zł66.00 (48.2% above fair value)
  • GF Score™: 73/100 with 6 warning signs
  • Industry Position: 198.6% above the Hardware median (#1546 of 1953)

No single metric tells the full story. See the WAR:S4E stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


S4E Business Description

Address ul. Inflancka 4B, Warsaw, POL, 00-189
S4E SA is a distributor of IT solutions with added value VAD in the area of secure data storage and networking. The company directs its offer to trading partners profile VAR and system integrators. The company offers storage solutions for the collection, storage, preservation, and archiving of data in a digital form, and professional services, including designing, organizing, and conducting the trainings, as well as pre-sales, implementation, after-sales care, and maintenance services.
73GF Score

Get the complete analysis for WAR:S4E

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

zł66.00
Price
zł44.52
GF Value