Fisher & Paykel HealthcareASX:FPH -0.24%90 Cyclically Adjusted PB Ratio is 14.51 as of Jul. 11, 2026, which is 9% below its 10-year median of 15.97. GuruFocus rates ASX:FPH with a GF Score™ of 90/100 and a GF Value™ of A$36.44 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 524 Medical Devices & Instruments companies, Fisher & Paykel Healthcare ranks worse than 95.99% on this metric.
The historical rank and industry rank for Fisher & Paykel Healthcare's Cyclically Adjusted PB Ratio or its related term are showing as below:
ASX:FPH'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 10.65 Med: 15.97 Max: 34.89
Current: 14.51
During the past 13 years, Fisher & Paykel Healthcare's highest Cyclically Adjusted PB Ratio was 34.89. The lowest was 10.65. And the median was 15.97.
ASX:FPH's Cyclically Adjusted PB Ratio is ranked worse than 95.99% of 524
companies
in the Medical Devices & Instruments industry
Industry Median: 1.79
vs ASX:FPH: 14.51
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.
Fisher & Paykel Healthcare's adjusted book value per share data of for the fiscal year that ended in Mar26 was A$3.002. 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 A$2.27 for the trailing ten years ended in Mar26.
Shiller PE for Stocks: The True Measure of Stock Valuation
Fisher & Paykel Healthcare (ASX:FPH) 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.
Fisher & Paykel Healthcare Cyclically Adjusted PB Ratio Related Terms
Fisher & Paykel Healthcare Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Fisher & Paykel Healthcare'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.
Fisher & Paykel Healthcare Cyclically Adjusted PB Ratio Chart
ASX:FPH vs ISRG, BDX, MDLN: Cyclically Adjusted PB Ratio Comparison
For the Medical Instruments & Supplies subindustry, Fisher & Paykel Healthcare'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.
Fisher & Paykel Healthcare Cyclically Adjusted PB Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Fisher & Paykel Healthcare's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Fisher & Paykel Healthcare's Cyclically Adjusted PB Ratio falls into.
Fisher & Paykel Healthcare 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.
* 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.
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 14.51 mean?
Fisher & Paykel Healthcare (ASX:FPH) has a Cyclically Adjusted PB Ratio of 14.51 as of Jul. 11, 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 Fisher & Paykel Healthcare and its competitors. This is near median its historical median of 15.97. Over the past decade, Fisher & Paykel Healthcare's Cyclically Adjusted PB Ratio has ranged from 10.65 to 34.89. According to the industry distribution chart, Fisher & Paykel Healthcare ranks #503 out of 524 companies in the Medical Devices & Instruments industry, placing it in the top 96%.
Is Fisher & Paykel Healthcare's Cyclically Adjusted PB Ratio too high?
Fisher & Paykel Healthcare's current Cyclically Adjusted PB Ratio of 14.51 is near median its 10-year median of 15.97. Over the past 10 years, this metric has ranged from a low of 10.65 to a high of 34.89. The Medical Devices & Instruments industry median Cyclically Adjusted PB Ratio is 1.79. Fisher & Paykel Healthcare's value of 14.51 is 710.6% above this industry median. Based on the distribution chart, Fisher & Paykel Healthcare ranks #503 out of 524 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Fisher & Paykel Healthcare has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fisher & Paykel Healthcare's Cyclically Adjusted PB Ratio compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Fisher & Paykel Healthcare ranks #503 out of 524 companies for Cyclically Adjusted PB Ratio. This places Fisher & Paykel Healthcare in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.79. Fisher & Paykel Healthcare's value of 14.51 is 710.6% above this benchmark. Historically, Fisher & Paykel Healthcare's own Cyclically Adjusted PB Ratio has ranged from 10.65 to 34.89 over the past decade. While the company's 10-year median is 15.97 vs. the industry median of 1.79, Fisher & Paykel Healthcare 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 Medical Devices & Instruments company?
The median Cyclically Adjusted PB Ratio among Medical Devices & Instruments companies is 1.79, based on 524 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. Fisher & Paykel Healthcare's current Cyclically Adjusted PB Ratio of 14.51 is 710.6% 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 Fisher & Paykel Healthcare and its competitors. For the Medical Devices & Instruments industry, the median Cyclically Adjusted PB Ratio is 1.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fisher & Paykel Healthcare's current Cyclically Adjusted PB Ratio is 14.51, which is near median its own 10-year median of 15.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fisher & Paykel Healthcare stock overvalued right now?
Based on GuruFocus' analysis, Fisher & Paykel Healthcare (ASX:FPH) is currently considered Modestly Undervalued. The stock's GF Value™ is A$36.44, compared to a current price of A$32.93 — trading 9.6% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 14.51, which is near median its 10-year median of 15.97 and 710.6% above the Medical Devices & Instruments industry median of 1.79. Fisher & Paykel Healthcare's overall GF Score™ is 90/100 with 2 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 Fisher & Paykel Healthcare (ASX:FPH), the current Cyclically Adjusted PB Ratio is 14.51 as of Jul. 11, 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 Fisher & Paykel Healthcare (ASX:FPH) Overvalued in 2026?
Based on GuruFocus' analysis, Fisher & Paykel Healthcare stock appears to be undervalued.
The current stock price of A$32.93 is trading 9.6% below its estimated GF Value™ of A$36.44.
GuruFocus considers Fisher & Paykel Healthcare to be Modestly Undervalued.
Key valuation signals for ASX:FPH:
Cyclically Adjusted PB Ratio: 14.51 (near median its 10-year median of 15.97)
GF Value™: A$36.44 vs. price of A$32.93 (9.6% below fair value)
Industry Position: 710.6% above the Medical Devices & Instruments median (#503 of 524)
No single metric tells the full story. See the ASX:FPH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fisher & Paykel Healthcare is one of the three largest respiratory care device companies globally. It is the market leader in hospital use of humidifiers, masks, and related consumables, and the number three player in the at-home treatment of sleep apnea using respiratory devices. Both the hospital and homecare markets for respiratory devices are growing strongly in the developed markets in which Fisher & Paykel has a presence. The company earns roughly half of its revenue in North America, around a quarter in Europe, and approximately a fifth in Asia-Pacific. Fisher conducts its own R&D and has thousands of patents and pending applications. It manufactures in New Zealand, Mexico, and China, and has a multichannel distribution model.
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