BGOUF (Bang & Olufsen AS) Cyclically Adjusted PB Ratio: 0.75 (As of Jul. 22, 2026) — 24% 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.

BGOUF Bang & Olufsen AS BGOUF
60 GF Score
Price $1.36
GF Value $1.23
Valuation Modestly Overvalued
! 2 Warning Signs
View Full Analysis

What is Bang & Olufsen AS Cyclically Adjusted PB Ratio?

Bang & Olufsen AS BGOUF 60 Cyclically Adjusted PB Ratio is 0.75 as of Jul. 22, 2026, which is 24% below its 10-year median of 0.99. GuruFocus rates BGOUF with a GF Score™ of 60/100 and a GF Value™ of $1.23 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,980 Hardware companies, Bang & Olufsen AS ranks better than 79.29% on this metric.

As of today (2026-07-22), Bang & Olufsen AS's current share price is $1.36. Bang & Olufsen AS's Cyclically Adjusted Book per Share for the fiscal year that ended in May26 was $1.81. Bang & Olufsen AS's Cyclically Adjusted PB Ratio for today is 0.75.

The historical rank and industry rank for Bang & Olufsen AS's Cyclically Adjusted PB Ratio or its related term are showing as below:

BGOUF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.47   Med: 0.99   Max: 4.02
Current: 0.74

During the past 13 years, Bang & Olufsen AS's highest Cyclically Adjusted PB Ratio was 4.02. The lowest was 0.47. And the median was 0.99.

BGOUF's Cyclically Adjusted PB Ratio is ranked better than
79.29% of 1980 companies
in the Hardware industry
Industry Median: 2.01 vs BGOUF: 0.74

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.

Bang & Olufsen AS's adjusted book value per share data of for the fiscal year that ended in May26 was $1.103. 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 $1.81 for the trailing ten years ended in May26.

Shiller PE for Stocks: The True Measure of Stock Valuation


Bang & Olufsen AS  (OTCPK:BGOUF) 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.


Bang & Olufsen AS Cyclically Adjusted PB Ratio Related Terms


Bang & Olufsen AS Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Bang & Olufsen AS'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.

Bang & Olufsen AS Cyclically Adjusted PB Ratio Chart

Bang & Olufsen AS Annual Data
Trend May17 May18 May19 May20 May21 May22 May23 May24 May25 May26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.99 0.71 0.70 0.97 0.79

Bang & Olufsen AS Semi-Annual Data
Nov16 May17 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25 Nov25 May26
Cyclically Adjusted PB 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 0.70 0.65 0.97 1.00 0.79

BGOUF vs AAPL: Cyclically Adjusted PB Ratio Comparison

For the Consumer Electronics subindustry, Bang & Olufsen AS'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.


Bang & Olufsen AS Cyclically Adjusted PB Ratio vs Hardware Industry

For the Hardware industry and Technology sector, Bang & Olufsen AS's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Bang & Olufsen AS's Cyclically Adjusted PB Ratio falls into.


BGOUF
60GF Score
Bang & Olufsen AS BGOUF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bang & Olufsen AS 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.

Bang & Olufsen AS's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=1.36/1.81
=0.75

* 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.

Bang & Olufsen AS's Cyclically Adjusted Book per Share for the fiscal year that ended in May26 is calculated as:

For example, Bang & Olufsen AS's adjusted Book Value per Share data for the fiscal year that ended in May26 was:

Adj_Book=Book Value per Share/CPI of May26 (Change)*Current CPI (May26)
=1.103/122.6800*122.6800
=1.103

Current CPI (May26) = 122.6800.

Bang & Olufsen AS Annual Data

Book Value per Share CPI Adj_Book
201705 2.434 101.300 2.948
201805 2.803 102.400 3.358
201905 2.324 103.100 2.765
202005 1.328 103.100 1.580
202105 1.534 104.900 1.794
202205 1.307 112.700 1.423
202305 1.167 116.000 1.234
202405 1.145 118.500 1.185
202505 1.197 120.400 1.220
202605 1.103 122.680 1.103

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book 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 PB Ratio of 0.75 mean?
Bang & Olufsen AS (BGOUF) has a Cyclically Adjusted PB Ratio of 0.75 as of Jul. 22, 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 Bang & Olufsen AS and its competitors. This is 24% below median its historical median of 0.99. Over the past decade, Bang & Olufsen AS's Cyclically Adjusted PB Ratio has ranged from 0.47 to 4.02. According to the industry distribution chart, Bang & Olufsen AS ranks #410 out of 1980 companies in the Hardware industry, placing it in the top 20.7%.
Is Bang & Olufsen AS's Cyclically Adjusted PB Ratio too high?
Bang & Olufsen AS's current Cyclically Adjusted PB Ratio of 0.75 is 24% below median its 10-year median of 0.99. Over the past 10 years, this metric has ranged from a low of 0.47 to a high of 4.02. The Hardware industry median Cyclically Adjusted PB Ratio is 2.01. Bang & Olufsen AS's value of 0.75 is 62.7% below this industry median. Based on the distribution chart, Bang & Olufsen AS ranks #410 out of 1980 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Bang & Olufsen AS has a GF Score™ of 60/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bang & Olufsen AS's Cyclically Adjusted PB Ratio compare to AAPL?
According to the Hardware industry distribution chart, Bang & Olufsen AS ranks #410 out of 1980 companies for Cyclically Adjusted PB Ratio. This places Bang & Olufsen AS in the top 21% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 2.01. Bang & Olufsen AS's value of 0.75 is 62.7% below this benchmark. Historically, Bang & Olufsen AS's own Cyclically Adjusted PB Ratio has ranged from 0.47 to 4.02 over the past decade. While the company's 10-year median is 0.99 vs. the industry median of 2.01, Bang & Olufsen AS 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 PB Ratio for a Hardware company?
The median Cyclically Adjusted PB Ratio among Hardware companies is 2.01, based on 1,980 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. Bang & Olufsen AS's current Cyclically Adjusted PB Ratio of 0.75 is 62.7% 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 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 Bang & Olufsen AS and its competitors. For the Hardware industry, the median Cyclically Adjusted PB Ratio is 2.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bang & Olufsen AS's current Cyclically Adjusted PB Ratio is 0.75, which is 24% below median its own 10-year median of 0.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bang & Olufsen AS stock overvalued right now?
Based on GuruFocus' analysis, Bang & Olufsen AS (BGOUF) is currently considered Modestly Overvalued. The stock's GF Value™ is $1.23, compared to a current price of $1.36 — trading 10.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.75, which is 24% below median its 10-year median of 0.99 and 62.7% below the Hardware industry median of 2.01. Bang & Olufsen AS's overall GF Score™ is 60/100 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 Bang & Olufsen AS (BGOUF), the current Cyclically Adjusted PB Ratio is 0.75 as of Jul. 22, 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 Bang & Olufsen AS (BGOUF) Overvalued in 2026?

Based on GuruFocus' analysis, Bang & Olufsen AS stock appears to be overvalued. The current stock price of $1.36 is trading 10.6% above its estimated GF Value™ of $1.23. GuruFocus considers Bang & Olufsen AS to be Modestly Overvalued.

Key valuation signals for BGOUF:

  • Cyclically Adjusted PB Ratio: 0.75 (24% below median its 10-year median of 0.99)
  • GF Value™: $1.23 vs. price of $1.36 (10.6% above fair value)
  • GF Score™: 60/100 with 2 warning signs
  • Industry Position: 62.7% below the Hardware median (#410 of 1980)

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


Bang & Olufsen AS Business Description

Address Bang og Olufsen Alle 1, Struer, DNK, 7600
Bang & Olufsen AS designs, develops, and markets audio and video products including music systems, loudspeakers, television sets, headphones, other multimedia products, and related accessories. Its operating segments include EMEA, which is the company's key revenue-generating segment, followed by the Americas and Asia-Pacific (APAC). The company generates maximum revenue from the Staged product category, followed by On-the-go, Flexible Living, and Brand Partnering and other activities.
60GF Score

Get the complete analysis for BGOUF

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

$1.36
Price
$1.23
GF Value