Ependion AB (CHIX:EPENS) Cyclically Adjusted PB Ratio: 4.21 (As of Jul. 28, 2026) — 50% Above Median

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Director of Data and Quant Analytics at GuruFocus
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CHIX:EPENS Ependion AB CHIX:EPENS
80 GF Score
Price kr104.50
GF Value kr72.58
! 8 Warning Signs
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What is Ependion AB Cyclically Adjusted PB Ratio?

Ependion AB CHIX:EPENS 80 Cyclically Adjusted PB Ratio is 4.21 as of Jul. 28, 2026, which is 50% above its 10-year median of 2.80. GuruFocus rates CHIX:EPENS with a GF Score™ of 80/100 and a GF Value™ of kr72.58. The stock has 8 warning signs investors should review. Among 1,977 Hardware companies, Ependion AB ranks worse than 76.78% on this metric.

As of today (2026-07-28), Ependion AB's current share price is kr104.50. Ependion AB's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was kr24.83. Ependion AB's Cyclically Adjusted PB Ratio for today is 4.21.

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

CHIX:EPENs' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.52   Med: 2.8   Max: 5.77
Current: 4.55

During the past years, Ependion AB's highest Cyclically Adjusted PB Ratio was 5.77. The lowest was 1.52. And the median was 2.80.

CHIX:EPENs's Cyclically Adjusted PB Ratio is ranked worse than
76.78% of 1977 companies
in the Hardware industry
Industry Median: 2.02 vs CHIX:EPENs: 4.55

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.

Ependion AB's adjusted book value per share data for the three months ended in Jun. 2026 was kr53.452. 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 kr24.83 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Ependion AB  (CHIX:EPENs) 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.


Ependion AB Cyclically Adjusted PB Ratio Related Terms


Ependion AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Ependion AB'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.

Ependion AB Cyclically Adjusted PB Ratio Chart

Ependion AB Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.40 4.14 4.26 3.09 3.41

Ependion AB Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 3.44 3.69 3.41 2.72 4.21

CHIX:EPENS vs CSCO, MSI, HPE: Cyclically Adjusted PB Ratio Comparison

For the Communication Equipment subindustry, Ependion AB'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.


Ependion AB Cyclically Adjusted PB Ratio vs Hardware Industry

For the Hardware industry and Technology sector, Ependion AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Ependion AB's Cyclically Adjusted PB Ratio falls into.


CHIX:EPENS
80GF Score
Ependion AB CHIX:EPENS
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ependion AB 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.

Ependion AB's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=104.50/24.83
=4.21

* 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.

Ependion AB's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Ependion AB's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=53.452/134.1100*134.1100
=53.452

Current CPI (Jun. 2026) = 134.1100.

Ependion AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 18.605 101.138 24.671
201612 18.974 102.022 24.942
201703 19.335 102.022 25.416
201706 13.711 102.752 17.895
201709 20.265 103.279 26.315
201712 20.454 103.793 26.429
201803 10.134 103.962 13.073
201806 22.593 104.875 28.891
201809 22.448 105.679 28.487
201812 22.827 105.912 28.905
201903 24.097 105.886 30.520
201906 23.736 106.742 29.822
201909 24.848 107.214 31.081
201912 23.930 107.766 29.780
202003 25.599 106.563 32.217
202006 24.406 107.498 30.448
202009 24.206 107.635 30.160
202012 22.258 108.296 27.564
202103 23.422 108.360 28.988
202106 23.190 108.928 28.551
202109 24.521 110.338 29.804
202112 25.347 112.486 30.220
202203 26.223 114.825 30.627
202206 28.728 118.384 32.544
202209 33.042 122.296 36.234
202212 34.315 126.365 36.418
202303 36.315 127.042 38.335
202306 39.243 129.407 40.669
202309 40.719 130.224 41.934
202312 40.062 131.912 40.730
202403 43.332 132.205 43.956
202406 43.050 132.716 43.502
202409 42.562 132.304 43.143
202412 45.863 132.987 46.250
202503 44.321 132.825 44.750
202506 49.927 133.699 50.081
202509 50.575 133.480 50.814
202512 50.894 133.390 51.169
202603 52.923 133.560 53.141
202606 53.452 134.110 53.452

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 4.21 mean?
Ependion AB (CHIX:EPENS) has a Cyclically Adjusted PB Ratio of 4.21 as of Jul. 28, 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 Ependion AB and its competitors. This is 50% above median its historical median of 2.80. Over the past decade, Ependion AB's Cyclically Adjusted PB Ratio has ranged from 1.52 to 5.77. According to the industry distribution chart, Ependion AB ranks #1518 out of 1977 companies in the Hardware industry, placing it in the top 76.8%.
Is Ependion AB's Cyclically Adjusted PB Ratio too high?
Ependion AB's current Cyclically Adjusted PB Ratio of 4.21 is 50% above median its 10-year median of 2.80. Over the past 10 years, this metric has ranged from a low of 1.52 to a high of 5.77. The Hardware industry median Cyclically Adjusted PB Ratio is 2.02. Ependion AB's value of 4.21 is 108.4% above this industry median. Based on the distribution chart, Ependion AB ranks #1518 out of 1977 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Ependion AB has a GF Score™ of 80/100, reflecting its overall financial health beyond just this single metric.
How does Ependion AB's Cyclically Adjusted PB Ratio compare to CSCO and MSI?
According to the Hardware industry distribution chart, Ependion AB ranks #1518 out of 1977 companies for Cyclically Adjusted PB Ratio. This places Ependion AB in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.02. Ependion AB's value of 4.21 is 108.4% above this benchmark. Historically, Ependion AB's own Cyclically Adjusted PB Ratio has ranged from 1.52 to 5.77 over the past decade. While the company's 10-year median is 2.80 vs. the industry median of 2.02, Ependion AB 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 Hardware company?
The median Cyclically Adjusted PB Ratio among Hardware companies is 2.02, based on 1,977 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. Ependion AB's current Cyclically Adjusted PB Ratio of 4.21 is 108.4% 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 Ependion AB and its competitors. For the Hardware industry, the median Cyclically Adjusted PB Ratio is 2.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ependion AB's current Cyclically Adjusted PB Ratio is 4.21, which is 50% above median its own 10-year median of 2.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ependion AB stock overvalued right now?
Ependion AB (CHIX:EPENS) has a current Cyclically Adjusted PB Ratio of 4.21. The stock's GF Value™ is kr72.58, compared to a current price of kr104.50 — trading 44% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 4.21, which is 50% above median its 10-year median of 2.80 and 108.4% above the Hardware industry median of 2.02. Ependion AB's overall GF Score™ is 80/100 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 PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Ependion AB (CHIX:EPENS), the current Cyclically Adjusted PB Ratio is 4.21 as of Jul. 28, 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 Ependion AB (CHIX:EPENS) Overvalued in 2026?

Based on GuruFocus' analysis, Ependion AB stock appears to be overvalued. The current stock price of kr104.50 is trading 44% above its estimated GF Value™ of kr72.58.

Key valuation signals for CHIX:EPENS:

  • Cyclically Adjusted PB Ratio: 4.21 (50% above median its 10-year median of 2.80)
  • GF Value™: kr72.58 vs. price of kr104.50 (44% above fair value)
  • GF Score™: 80/100 with 8 warning signs
  • Industry Position: 108.4% above the Hardware median (#1518 of 1977)

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


Ependion AB Business Description

Address Stora Varvsgatan 13A, Box 426, Malmo, SWE, SE-201 24
Ependion AB is technology group delivering digital solutions for secure control, visualization and data communication for industrial applications in environments where reliability and high quality are critical factors. The operating segments are divided between the Beijer Electronics and Westermo business entities. Beijer; and Westermo. It generates majority of revenue from Westermo which develops robust and secure communication solutions for harsh environments, with its focus on rail networks, with the business entity being the world'wide market leader in its niche for trackside and for the energy sector. The company has presence in Nordics, Rest of Europe, North America, Asia, and Rest of world.
80GF Score

Get the complete analysis for CHIX:EPENS

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

kr104.50
Price
kr72.58
GF Value