KBJ (WAR:KBJ) Cyclically Adjusted PS Ratio: 0.52 (As of Jul. 18, 2026) — 12% 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:KBJ KBJ SA WAR:KBJ
76 GF Score
Price zł24.00
GF Value zł20.01
Valuation Modestly Overvalued
! 6 Warning Signs
View Full Analysis

What is KBJ Cyclically Adjusted PS Ratio?

KBJ WAR:KBJ -6.25% 76 Cyclically Adjusted PS Ratio is 0.52 as of Jul. 18, 2026, which is 12% below its 10-year median of 0.59. GuruFocus rates WAR:KBJ with a GF Score™ of 76/100 and a GF Value™ of zł20.01 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,590 Software companies, KBJ ranks better than 81.57% on this metric.

As of today (2026-07-18), KBJ's current share price is zł24.00. KBJ's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was zł46.47. KBJ's Cyclically Adjusted PS Ratio for today is 0.52.

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

WAR:KBJ' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.36   Med: 0.59   Max: 0.99
Current: 0.44

During the past years, KBJ's highest Cyclically Adjusted PS Ratio was 0.99. The lowest was 0.36. And the median was 0.59.

WAR:KBJ's Cyclically Adjusted PS Ratio is ranked better than
81.57% of 1590 companies
in the Software industry
Industry Median: 1.665 vs WAR:KBJ: 0.44

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.

KBJ's adjusted revenue per share data for the three months ended in Mar. 2026 was zł13.176. 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 zł46.47 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


KBJ  (WAR:KBJ) 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.


KBJ Cyclically Adjusted PS Ratio Related Terms


KBJ Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for KBJ'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.

KBJ Cyclically Adjusted PS Ratio Chart

KBJ 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 0.75 0.68 0.51 0.64 0.51

KBJ 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 0.66 0.56 0.53 0.51 0.45

WAR:KBJ vs IBM, ACN, FISV: Cyclically Adjusted PS Ratio Comparison

For the Information Technology Services subindustry, KBJ'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.


KBJ Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, KBJ's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


WAR:KBJ
76GF Score
KBJ SA WAR:KBJ
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

KBJ 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.

KBJ's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=24.00/46.47
=0.52

* 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.

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

For example, KBJ'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)
=13.176/163.0700*163.0700
=13.176

Current CPI (Mar. 2026) = 163.0700.

KBJ Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 2.157 99.552 3.533
201609 2.557 99.064 4.209
201612 5.279 100.366 8.577
201703 2.690 101.018 4.342
201706 3.871 101.180 6.239
201709 2.934 101.343 4.721
201712 5.802 102.564 9.225
201803 2.989 102.564 4.752
201806 1.795 103.378 2.831
201809 3.177 103.378 5.011
201812 7.008 103.785 11.011
201903 3.744 104.274 5.855
201906 11.185 105.983 17.210
201909 4.377 105.983 6.735
201912 7.982 107.123 12.151
202003 9.458 109.076 14.140
202006 8.526 109.402 12.709
202009 9.063 109.320 13.519
202012 12.728 109.565 18.944
202103 8.600 112.658 12.448
202106 8.669 113.960 12.405
202109 9.039 115.588 12.752
202112 15.588 119.088 21.345
202203 10.738 125.031 14.005
202206 9.510 131.705 11.775
202209 9.482 135.531 11.409
202212 21.934 139.113 25.711
202303 10.521 145.950 11.755
202306 9.920 147.009 11.004
202309 9.555 146.113 10.664
202312 20.015 147.741 22.092
202403 8.201 149.044 8.973
202406 11.017 150.997 11.898
202409 10.448 153.439 11.104
202412 23.100 154.660 24.356
202503 13.441 157.021 13.959
202506 9.269 157.509 9.596
202509 10.794 158.000 11.140
202512 16.948 158.320 17.456
202603 13.176 163.070 13.176

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 0.52 mean?
KBJ (WAR:KBJ) has a Cyclically Adjusted PS Ratio of 0.52 as of Jul. 18, 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 KBJ and its competitors. This is 12% below median its historical median of 0.59. Over the past decade, KBJ's Cyclically Adjusted PS Ratio has ranged from 0.36 to 0.99. According to the industry distribution chart, KBJ ranks #293 out of 1590 companies in the Software industry, placing it in the top 18.4%.
Is KBJ's Cyclically Adjusted PS Ratio too high?
KBJ's current Cyclically Adjusted PS Ratio of 0.52 is 12% below median its 10-year median of 0.59. Over the past 10 years, this metric has ranged from a low of 0.36 to a high of 0.99. The Software industry median Cyclically Adjusted PS Ratio is 1.67. KBJ's value of 0.52 is 68.8% below this industry median. Based on the distribution chart, KBJ ranks #293 out of 1590 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, KBJ has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does KBJ's Cyclically Adjusted PS Ratio compare to IBM and ACN?
According to the Software industry distribution chart, KBJ ranks #293 out of 1590 companies for Cyclically Adjusted PS Ratio. This places KBJ in the top 18% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 1.67. KBJ's value of 0.52 is 68.8% below this benchmark. Historically, KBJ's own Cyclically Adjusted PS Ratio has ranged from 0.36 to 0.99 over the past decade. While the company's 10-year median is 0.59 vs. the industry median of 1.67, KBJ 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 Software company?
The median Cyclically Adjusted PS Ratio among Software companies is 1.67, based on 1,590 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. KBJ's current Cyclically Adjusted PS Ratio of 0.52 is 68.8% 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 KBJ and its competitors. For the Software industry, the median Cyclically Adjusted PS Ratio is 1.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KBJ's current Cyclically Adjusted PS Ratio is 0.52, which is 12% below median its own 10-year median of 0.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KBJ stock overvalued right now?
Based on GuruFocus' analysis, KBJ (WAR:KBJ) is currently considered Modestly Overvalued. The stock's GF Value™ is zł20.01, compared to a current price of zł24.00 — trading 19.9% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.52, which is 12% below median its 10-year median of 0.59 and 68.8% below the Software industry median of 1.67. KBJ's overall GF Score™ is 76/100 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 KBJ (WAR:KBJ), the current Cyclically Adjusted PS Ratio is 0.52 as of Jul. 18, 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 KBJ (WAR:KBJ) Overvalued in 2026?

Based on GuruFocus' analysis, KBJ stock appears to be overvalued. The current stock price of zł24.00 is trading 19.9% above its estimated GF Value™ of zł20.01. GuruFocus considers KBJ to be Modestly Overvalued.

Key valuation signals for WAR:KBJ:

  • Cyclically Adjusted PS Ratio: 0.52 (12% below median its 10-year median of 0.59)
  • GF Value™: zł20.01 vs. price of zł24.00 (19.9% above fair value)
  • GF Score™: 76/100 with 6 warning signs
  • Industry Position: 68.8% below the Software median (#293 of 1590)

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


KBJ Business Description

Address Obozowa Street 57, Warsaw, POL, 01-161
KBJ SA is engaged in providing implementation and consulting services as well as building dedicated IT solutions that are compliant with individual customer needs. The company services include Business Intelligence & Big Data, SAP Development, ERP S/4 HANA, SAP application service, e-Drugs, E-JPK, HR Cloud Portal, and Research & Development.
76GF Score

Get the complete analysis for WAR:KBJ

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

zł24.00
Price
zł20.01
GF Value