Arctic Paper (WAR:ATC) Cyclically Adjusted PS Ratio: 0.10 (As of Jul. 19, 2026) — 38% 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:ATC Arctic Paper SA WAR:ATC
58 GF Score
Price zł6.21
GF Value zł14.30
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Arctic Paper Cyclically Adjusted PS Ratio?

Arctic Paper WAR:ATC +0.32% 58 Cyclically Adjusted PS Ratio is 0.10 as of Jul. 19, 2026, which is 38% below its 10-year median of 0.16. GuruFocus rates WAR:ATC with a GF Score™ of 58/100 and a GF Value™ of zł14.30 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 249 Forest Products companies, Arctic Paper ranks better than 89.16% on this metric.

As of today (2026-07-19), Arctic Paper's current share price is zł6.21. Arctic Paper's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was zł64.87. Arctic Paper's Cyclically Adjusted PS Ratio for today is 0.10.

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

WAR:ATC' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.05   Med: 0.16   Max: 0.41
Current: 0.1

During the past years, Arctic Paper's highest Cyclically Adjusted PS Ratio was 0.41. The lowest was 0.05. And the median was 0.16.

WAR:ATC's Cyclically Adjusted PS Ratio is ranked better than
89.16% of 249 companies
in the Forest Products industry
Industry Median: 0.45 vs WAR:ATC: 0.10

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 PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Arctic Paper's adjusted revenue per share data for the three months ended in Mar. 2026 was zł11.748. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is zł64.87 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Arctic Paper  (WAR:ATC) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue 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 PS Ratio should give similar results to regular PS Ratio.


Arctic Paper Cyclically Adjusted PS Ratio Related Terms


Arctic Paper Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Arctic Paper's Cyclically Adjusted PS 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.

Arctic Paper Cyclically Adjusted PS Ratio Chart

Arctic Paper Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.16 0.32 0.36 0.24 0.13

Arctic Paper Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PS 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 0.24 0.17 0.13 0.13 0.12

WAR:ATC vs SLVM: Cyclically Adjusted PS Ratio Comparison

For the Paper & Paper Products subindustry, Arctic Paper's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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.


Arctic Paper Cyclically Adjusted PS Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Arctic Paper's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Arctic Paper's Cyclically Adjusted PS Ratio falls into.


WAR:ATC
58GF Score
Arctic Paper SA WAR:ATC
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Arctic Paper Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS 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 PS Ratio.

Arctic Paper's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=6.21/64.87
=0.10

* 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.

Arctic Paper's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Arctic Paper's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=11.748/163.0700*163.0700
=11.748

Current CPI (Mar. 2026) = 163.0700.

Arctic Paper Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 10.410 99.552 17.052
201609 10.968 99.064 18.055
201612 10.206 100.366 16.582
201703 11.169 101.018 18.030
201706 10.147 101.180 16.354
201709 10.620 101.343 17.089
201712 10.679 102.564 16.979
201803 11.374 102.564 18.084
201806 11.317 103.378 17.852
201809 11.785 103.378 18.590
201812 11.093 103.785 17.430
201903 11.843 104.274 18.521
201906 11.005 105.983 16.933
201909 11.465 105.983 17.641
201912 10.675 107.123 16.250
202003 11.747 109.076 17.562
202006 8.890 109.402 13.251
202009 10.144 109.320 15.132
202012 10.314 109.565 15.351
202103 11.298 112.658 16.354
202106 11.352 113.960 16.244
202109 12.840 115.588 18.114
202112 13.762 119.088 18.845
202203 16.031 125.031 20.908
202206 18.709 131.705 23.164
202209 20.236 135.531 24.348
202212 15.661 139.113 18.358
202303 14.897 145.950 16.644
202306 12.069 147.009 13.388
202309 12.337 146.113 13.769
202312 11.920 147.741 13.157
202403 13.933 149.044 15.244
202406 12.112 150.997 13.080
202409 11.824 153.439 12.566
202412 11.702 154.660 12.338
202503 11.875 157.021 12.332
202506 12.029 157.509 12.454
202509 11.492 158.000 11.861
202512 10.754 158.320 11.077
202603 11.748 163.070 11.748

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue 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 PS Ratio of 0.10 mean?
Arctic Paper (WAR:ATC) has a Cyclically Adjusted PS Ratio of 0.10 as of Jul. 19, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Arctic Paper and its competitors. This is 38% below median its historical median of 0.16. Over the past decade, Arctic Paper's Cyclically Adjusted PS Ratio has ranged from 0.05 to 0.41. According to the industry distribution chart, Arctic Paper ranks #27 out of 249 companies in the Forest Products industry, placing it in the top 10.8%.
Is Arctic Paper's Cyclically Adjusted PS Ratio too high?
Arctic Paper's current Cyclically Adjusted PS Ratio of 0.10 is 38% below median its 10-year median of 0.16. Over the past 10 years, this metric has ranged from a low of 0.05 to a high of 0.41. The Forest Products industry median Cyclically Adjusted PS Ratio is 0.45. Arctic Paper's value of 0.10 is 77.8% below this industry median. Based on the distribution chart, Arctic Paper ranks #27 out of 249 companies in the Forest Products industry, which is in the top quartile — a strong position relative to peers. Overall, Arctic Paper has a GF Score™ of 58/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Arctic Paper's Cyclically Adjusted PS Ratio compare to SLVM?
According to the Forest Products industry distribution chart, Arctic Paper ranks #27 out of 249 companies for Cyclically Adjusted PS Ratio. This places Arctic Paper in the top 11% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 0.45. Arctic Paper's value of 0.10 is 77.8% below this benchmark. Historically, Arctic Paper's own Cyclically Adjusted PS Ratio has ranged from 0.05 to 0.41 over the past decade. While the company's 10-year median is 0.16 vs. the industry median of 0.45, Arctic Paper 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 PS Ratio for a Forest Products company?
The median Cyclically Adjusted PS Ratio among Forest Products companies is 0.45, based on 249 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Arctic Paper's current Cyclically Adjusted PS Ratio of 0.10 is 77.8% 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 PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Arctic Paper and its competitors. For the Forest Products industry, the median Cyclically Adjusted PS Ratio is 0.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Arctic Paper's current Cyclically Adjusted PS Ratio is 0.10, which is 38% below median its own 10-year median of 0.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arctic Paper stock overvalued right now?
Based on GuruFocus' analysis, Arctic Paper (WAR:ATC) is currently considered Possible Value Trap. The stock's GF Value™ is zł14.30, compared to a current price of zł6.21 — trading 56.6% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.10, which is 38% below median its 10-year median of 0.16 and 77.8% below the Forest Products industry median of 0.45. Arctic Paper's overall GF Score™ is 58/100 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 PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Arctic Paper (WAR:ATC), the current Cyclically Adjusted PS Ratio is 0.10 as of Jul. 19, 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 Arctic Paper (WAR:ATC) Overvalued in 2026?

Based on GuruFocus' analysis, Arctic Paper stock appears to be undervalued. The current stock price of zł6.21 is trading 56.6% below its estimated GF Value™ of zł14.30. GuruFocus considers Arctic Paper to be Possible Value Trap.

Key valuation signals for WAR:ATC:

  • Cyclically Adjusted PS Ratio: 0.10 (38% below median its 10-year median of 0.16)
  • GF Value™: zł14.30 vs. price of zł6.21 (56.6% below fair value)
  • GF Score™: 58/100 with 6 warning signs
  • Industry Position: 77.8% below the Forest Products median (#27 of 249)

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


Arctic Paper Business Description

Other Exchanges ARP:SwedenA0P:Germany
Address UL. Fabryczna 1, Kostrzyn nad Odra, Lubuskie, POL, 66470
Arctic Paper SA produces a volume of bulky book paper and produces high-quality graphic paper in Europe. The group produces numerous types of uncoated and coated wood-free paper as well as wood-containing uncoated paper for printing houses, paper distributors, book and magazine publishing houses, and the advertising industry. The company's segment includes Paper and Pulp. The firm derives maximum revenue from the Paper segment. The majority of revenue is generated from Uncoated segment. Geographically, the firm derives revenue from Germany, France, the UK, Scandinavia, Western Europe (other countries), Poland, Central and Eastern Europe (other than Poland), and Outside Europe.
58GF Score

Get the complete analysis for WAR:ATC

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

zł6.21
Price
zł14.30
GF Value