Bath & Body Works (BSP:B1BW34) Cyclically Adjusted PB Ratio: (As of Aug. 23, 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.

BSP:B1BW34 Bath & Body Works Inc BSP:B1BW34
68 GF Score
Price R$26.46
GF Value R$43.17
Valuation Significantly Undervalued
! 4 Warning Signs
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What is Bath & Body Works Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Bath & Body Works  (BSP:B1BW34) 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.


Bath & Body Works Cyclically Adjusted PB Ratio Related Terms


Bath & Body Works Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for Bath & Body Works'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.

Bath & Body Works Cyclically Adjusted PB Ratio Chart

Bath & Body Works Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Cyclically Adjusted PB Ratio
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Bath & Body Works Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 0.00 0.00 0.00 0.00 0.00

BSP:B1BW34 vs MNSO, RH, ASO: Cyclically Adjusted PB Ratio Comparison

For the Specialty Retail subindustry, Bath & Body Works'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.


Bath & Body Works Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Bath & Body Works's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Bath & Body Works's Cyclically Adjusted PB Ratio falls into.


BSP:B1BW34
68GF Score
Bath & Body Works Inc BSP:B1BW34
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Bath & Body Works 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.

Bath & Body Works's Cyclically Adjusted Book per Share for the quarter that ended in Apr. 2026 is calculated as:

For example, Bath & Body Works's adjusted Book Value per Share data for the three months ended in Apr. 2026 was:

Adj_Book=Book Value per Share/CPI of Apr. 2026 (Change)*Current CPI (Apr. 2026)
=-7.08/333.0200*333.0200
=-7.080

Current CPI (Apr. 2026) = 333.0200.

Bath & Body Works Quarterly Data

Book Value per Share CPI Adj_Book
201607 -3.238 240.628 -4.481
201610 -3.313 241.729 -4.564
201701 -2.033 242.839 -2.788
201704 -2.294 244.524 -3.124
201707 -2.556 244.786 -3.477
201710 -3.172 246.663 -4.283
201801 -2.159 247.867 -2.901
201804 -2.977 250.546 -3.957
201807 -3.905 252.006 -5.160
201810 -4.493 252.885 -5.917
201901 -2.951 251.712 -3.904
201904 -3.184 255.548 -4.149
201907 -3.193 256.571 -4.144
201910 -4.593 257.346 -5.944
202001 -5.616 257.971 -7.250
202004 -8.898 256.389 -11.557
202007 -9.048 259.101 -11.629
202010 -7.932 260.388 -10.145
202101 -3.195 261.582 -4.068
202104 -2.684 267.054 -3.347
202107 -5.789 273.003 -7.062
202110 -8.931 276.589 -10.753
202201 -8.266 281.148 -9.791
202204 -13.393 289.109 -15.427
202207 -15.675 296.276 -17.619
202210 -15.025 298.012 -16.790
202301 -12.504 299.170 -13.919
202304 -11.901 303.363 -13.064
202307 -11.343 305.691 -12.357
202310 -11.832 307.671 -12.807
202401 -8.854 308.417 -9.560
202404 -9.645 313.548 -10.244
202407 -10.829 314.540 -11.465
202410 -11.340 315.664 -11.964
202501 -9.636 317.671 -10.102
202504 -9.908 320.795 -10.286
202507 -10.295 323.048 -10.613
202510 -10.458 0.000
202601 -8.495 325.252 -8.698
202604 -7.080 333.020 -7.080

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.

Is Bath & Body Works (BSP:B1BW34) Overvalued in 2026?

Based on GuruFocus' analysis, Bath & Body Works stock appears to be undervalued. The current stock price of R$26.46 is trading 38.7% below its estimated GF Value™ of R$43.17. GuruFocus considers Bath & Body Works to be Significantly Undervalued.

Key valuation signals for BSP:B1BW34:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$43.17 vs. price of R$26.46 (38.7% below fair value)
  • GF Score™: 68/100 with 4 warning signs

No single metric tells the full story. See the BSP:B1BW34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Bath & Body Works Business Description

Address Three Limited Parkway, Columbus, OH, USA, 43230
Bath & Body Works is a specialty home fragrance and fragrant body care retailer operating under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company generates most of its business in North America, with just 4% of sales from international markets in fiscal 2025. For fiscal 2025, 77% of sales stemmed from the brick-and-mortar network of more than 1,900 retail stores, similar to 2024 levels, as consumer shopping patterns remained normal. Future growth is expected from store upgrades, digital and international channels, as well as adjacent category expansions like men's and lip.
68GF Score

Get the complete analysis for BSP:B1BW34

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

R$26.46
Price
R$43.17
GF Value