Warsaw Stock Exchange (WAR:GPW) Cyclically Adjusted Revenue per Share: zł17.61 (As of Mar. 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:GPW Warsaw Stock Exchange WAR:GPW
82 GF Score
Price zł105.80
GF Value zł57.48
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is Warsaw Stock Exchange Cyclically Adjusted Revenue per Share?

Warsaw Stock Exchange WAR:GPW -0.47% 82 Cyclically Adjusted Revenue per Share is zł17.61 as of Mar. 2026. GuruFocus rates WAR:GPW with a GF Score™ of 82/100 and a GF Value™ of zł57.48 (Significantly Overvalued). The stock has 8 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and 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.

Warsaw Stock Exchange's adjusted revenue per share for the three months ended in Mar. 2026 was zł4.026. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is zł17.61 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Warsaw Stock Exchange's average Cyclically Adjusted Revenue Growth Rate was 1.00% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 1.00% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 7.60% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Warsaw Stock Exchange was 15.40% per year. The lowest was 1.00% per year. And the median was 10.55% per year.

As of today (2026-07-19), Warsaw Stock Exchange's current stock price is zł105.80. Warsaw Stock Exchange's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was zł17.61. Warsaw Stock Exchange's Cyclically Adjusted PS Ratio of today is 6.01.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Warsaw Stock Exchange was 6.01. The lowest was 1.95. And the median was 3.11.


Warsaw Stock Exchange  (WAR:GPW) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

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.

Warsaw Stock Exchange's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=105.80/17.61
=6.01

* 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.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Warsaw Stock Exchange was 6.01. The lowest was 1.95. And the median was 3.11.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


Warsaw Stock Exchange Cyclically Adjusted Revenue per Share Related Terms


Warsaw Stock Exchange Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for Warsaw Stock Exchange's Cyclically Adjusted Revenue per Share 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.

Warsaw Stock Exchange Cyclically Adjusted Revenue per Share Chart

Warsaw Stock Exchange Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 13.74 16.65 17.22 17.36 17.18

Warsaw Stock Exchange Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted Revenue per Share 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 17.43 17.38 17.30 17.18 17.61

WAR:GPW vs SPGI, CME, MCO: Cyclically Adjusted Revenue per Share Comparison

For the Financial Data & Stock Exchanges subindustry, Warsaw Stock Exchange'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.


Warsaw Stock Exchange Cyclically Adjusted PS Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Warsaw Stock Exchange's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


WAR:GPW
82GF Score
Warsaw Stock Exchange WAR:GPW
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Warsaw Stock Exchange Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and 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.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

For example, Warsaw Stock Exchange'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)
=4.026/163.0700*163.0700
=4.026

Current CPI (Mar. 2026) = 163.0700.

Warsaw Stock Exchange Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 2.738 99.552 4.485
201609 2.709 99.064 4.459
201612 3.005 100.366 4.882
201703 3.348 101.018 5.405
201706 3.223 101.180 5.194
201709 2.983 101.343 4.800
201712 3.389 102.564 5.388
201803 3.160 102.564 5.024
201806 3.186 103.378 5.026
201809 3.153 103.378 4.974
201812 3.253 103.785 5.111
201903 3.094 104.274 4.839
201906 3.277 105.983 5.042
201909 3.034 105.983 4.668
201912 2.951 107.123 4.492
202003 3.574 109.076 5.343
202006 3.727 109.402 5.555
202009 3.271 109.320 4.879
202012 4.277 109.565 6.366
202103 4.101 112.658 5.936
202106 3.608 113.960 5.163
202109 3.332 115.588 4.701
202112 3.953 119.088 5.413
202203 4.053 125.031 5.286
202206 3.642 131.705 4.509
202209 3.252 135.531 3.913
202212 3.364 139.113 3.943
202303 2.659 145.950 2.971
202306 2.633 147.009 2.921
202309 2.539 146.113 2.834
202312 2.764 147.741 3.051
202403 2.811 149.044 3.076
202406 2.884 150.997 3.115
202409 2.657 153.439 2.824
202412 2.724 154.660 2.872
202503 3.144 157.021 3.265
202506 3.422 157.509 3.543
202509 3.214 158.000 3.317
202512 3.343 158.320 3.443
202603 4.026 163.070 4.026

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

What does a Cyclically Adjusted Revenue per Share of zł17.61 mean?
Warsaw Stock Exchange (WAR:GPW) has a Cyclically Adjusted Revenue per Share of zł17.61 as of Mar. 2026. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Warsaw Stock Exchange and its competitors.
Is Warsaw Stock Exchange's Cyclically Adjusted Revenue per Share too high?
Warsaw Stock Exchange's current Cyclically Adjusted Revenue per Share is zł17.61. Overall, Warsaw Stock Exchange has a GF Score™ of 82/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Warsaw Stock Exchange's Cyclically Adjusted Revenue per Share compare to SPGI and CME?
Warsaw Stock Exchange's Cyclically Adjusted Revenue per Share of zł17.61 can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Revenue per Share for a Capital Markets company?
A good Cyclically Adjusted Revenue per Share depends on the Capital Markets industry context. However, Cyclically Adjusted Revenue per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Revenue per Share mean?
A high Cyclically Adjusted Revenue per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Warsaw Stock Exchange and its competitors. Warsaw Stock Exchange's current Cyclically Adjusted Revenue per Share is zł17.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Warsaw Stock Exchange stock overvalued right now?
Based on GuruFocus' analysis, Warsaw Stock Exchange (WAR:GPW) is currently considered Significantly Overvalued. The stock's GF Value™ is zł57.48, compared to a current price of zł105.80 — trading 84.1% above its estimated fair value. The current Cyclically Adjusted Revenue per Share is zł17.61. Warsaw Stock Exchange's overall GF Score™ is 82/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Revenue per Share calculated?
Cyclically Adjusted Revenue per Share is calculated from a company's financial statements. For Warsaw Stock Exchange (WAR:GPW), the current Cyclically Adjusted Revenue per Share is zł17.61 as of Mar. 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 Warsaw Stock Exchange (WAR:GPW) Overvalued in 2026?

Based on GuruFocus' analysis, Warsaw Stock Exchange stock appears to be overvalued. The current stock price of zł105.80 is trading 84.1% above its estimated GF Value™ of zł57.48. GuruFocus considers Warsaw Stock Exchange to be Significantly Overvalued.

Key valuation signals for WAR:GPW:

  • Cyclically Adjusted Revenue per Share: zł17.61
  • GF Value™: zł57.48 vs. price of zł105.80 (84.1% above fair value)
  • GF Score™: 82/100 with 8 warning signs

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


Warsaw Stock Exchange Business Description

Other Exchanges WSX:Germany
Address ul. Ksiazeca 4, Warsaw, POL, 00-498
Warsaw Stock Exchange is a securities exchange based in Poland whose core activities include organizing exchange trading in financial instruments and activities related to such trading. The group also pursues activities in education, promotion, and information concerning the capital market. The company has traditionally generated listed interest from both local and regional European companies but primarily from small and medium-sized Polish companies. In addition to stock and bond offerings, the exchange also offers trading in debt instruments, derivatives, commodities, and structured products. Sales revenue is classified according to three main business segments: financial market, commodity market, and other.
82GF Score

Get the complete analysis for WAR:GPW

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

zł105.80
Price
zł57.48
GF Value