CD Projekt Red (WAR:CDR) Cyclically Adjusted PS Ratio: (As of Sep. 22, 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.
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:CDR CD Projekt Red SA WAR:CDR
91 GF Score
Price zł248.00
GF Value zł225.46
Valuation Fairly Valued
! 2 Warning Signs
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What is CD Projekt Red Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


CD Projekt Red  (WAR:CDR) 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.


CD Projekt Red Cyclically Adjusted PS Ratio Related Terms


CD Projekt Red Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for CD Projekt Red'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.

CD Projekt Red Cyclically Adjusted PS Ratio Chart

CD Projekt Red 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 27.76 14.69 11.08 16.65 21.34

CD Projekt Red Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 24.71 23.40 21.20 20.14 19.45

WAR:CDR vs NTES, TTWO, RBLX: Cyclically Adjusted PS Ratio Comparison

For the Electronic Gaming & Multimedia subindustry, CD Projekt Red'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.


CD Projekt Red Cyclically Adjusted PS Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, CD Projekt Red's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where CD Projekt Red's Cyclically Adjusted PS Ratio falls into.


WAR:CDR
91GF Score
CD Projekt Red SA WAR:CDR
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CD Projekt Red 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.

CD Projekt Red's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, CD Projekt Red's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=2.446/162.2800*162.2800
=2.446

Current CPI (Jun. 2026) = 162.2800.

CD Projekt Red Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 1.053 99.064 1.725
201612 1.707 100.366 2.760
201703 1.010 101.018 1.623
201706 1.568 101.180 2.515
201709 0.855 101.343 1.369
201712 1.239 102.564 1.960
201803 0.758 102.564 1.199
201806 0.913 103.378 1.433
201809 0.651 103.378 1.022
201812 1.283 103.785 2.006
201903 0.821 104.274 1.278
201906 1.310 105.983 2.006
201909 0.935 105.983 1.432
201912 2.119 107.123 3.210
202003 1.909 109.076 2.840
202006 1.686 109.402 2.501
202009 1.028 109.320 1.526
202012 16.632 109.565 24.634
202103 1.962 112.658 2.826
202106 2.710 113.960 3.859
202109 1.434 115.588 2.013
202112 2.711 119.088 3.694
202203 2.146 125.031 2.785
202206 1.606 131.705 1.979
202209 2.437 135.531 2.918
202212 3.294 139.113 3.843
202303 1.749 145.950 1.945
202306 1.506 147.009 1.662
202309 4.431 146.113 4.921
202312 4.629 147.741 5.085
202403 2.270 149.044 2.472
202406 1.982 150.997 2.130
202409 2.277 153.439 2.408
202412 1.445 154.660 1.516
202503 1.788 157.021 1.848
202506 1.725 157.509 1.777
202509 3.464 158.000 3.558
202512 0.745 158.320 0.764
202603 1.889 163.070 1.880
202606 2.446 162.280 2.446

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.

Is CD Projekt Red (WAR:CDR) Overvalued in 2026?

Based on GuruFocus' analysis, CD Projekt Red stock appears to be overvalued. The current stock price of zł248.00 is trading 10% above its estimated GF Value™ of zł225.46. GuruFocus considers CD Projekt Red to be Fairly Valued.

Key valuation signals for WAR:CDR:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: zł225.46 vs. price of zł248.00 (10% above fair value)
  • GF Score™: 91/100 with 2 warning signs

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


CD Projekt Red Business Description

Other Exchanges OTGLY:USA7CD:Germany
Address ul. Jagiellonska 74, Building E, Warsaw, POL, 03-301
CD Projekt SA is the holding company of the CD Projekt capital group. The firm, with its subsidiary, develops and publishes video games for hardware platforms such as Steam, PlayStation Store, Xbox Games Store, Nintendo, App Store, Humble Bundle, Origin, and its own proprietary GOG.com platform. It is also involved in international digital video game distribution. The firm has CD Projekt Red and GOG.com segments. It derives the majority of its revenues from the CD Projekt Red segment.
91GF Score

Get the complete analysis for WAR:CDR

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

zł248.00
Price
zł225.46
GF Value