Grifols (CHIX:GRFE) Cyclically Adjusted PB Ratio: (As of Jul. 29, 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.
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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.

CHIX:GRFE Grifols SA CHIX:GRFE
79 GF Score
Price €9.11
GF Value €10.03
Valuation Fairly Valued
! 7 Warning Signs
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What is Grifols Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Grifols  (CHIX:GRFe) 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.


Grifols Cyclically Adjusted PB Ratio Related Terms


Grifols Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Grifols'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.

Grifols Cyclically Adjusted PB Ratio Chart

Grifols 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 3.07 1.74 2.29 1.25 1.35

Grifols Quarterly Data
Sep20 Dec20 Mar21 Jun21 Dec21 Jun22 Sep22 Dec22 Jun23 Sep23 Dec23 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 1.35 1.59 1.35 1.11 0.00

CHIX:GRFE vs LLY, JNJ, ABBV: Cyclically Adjusted PB Ratio Comparison

For the Drug Manufacturers - General subindustry, Grifols'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.


Grifols Cyclically Adjusted PB Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Grifols's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


CHIX:GRFE
79GF Score
Grifols SA CHIX:GRFE
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Grifols 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.

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

For example, Grifols'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)
=8.149/130.5100*130.5100
=8.149

Current CPI (Jun. 2026) = 130.5100.

Grifols Quarterly Data

Book Value per Share CPI Adj_Book
201509 4.679 99.559 6.134
201512 4.822 100.268 6.276
201603 4.816 98.638 6.372
201606 4.986 100.333 6.486
201609 5.167 99.737 6.761
201612 5.450 101.842 6.984
201703 5.577 100.896 7.214
201706 5.238 101.848 6.712
201709 5.244 101.524 6.741
201712 5.311 102.975 6.731
201803 5.419 102.122 6.925
201806 5.803 104.165 7.271
201809 6.062 103.818 7.621
201812 6.180 104.193 7.741
201903 6.433 103.488 8.113
201906 6.422 104.612 8.012
201909 6.975 103.905 8.761
201912 7.048 105.015 8.759
202003 8.098 103.469 10.214
202006 7.837 104.254 9.811
202009 7.811 103.521 9.847
202012 7.462 104.456 9.323
202103 7.937 104.857 9.879
202106 7.617 107.102 9.282
202112 8.140 111.298 9.545
202206 9.324 118.044 10.309
202209 0.000 117.221 0.000
202212 8.326 117.650 9.236
202306 8.641 120.278 9.376
202309 9.022 121.343 9.704
202312 7.905 121.300 8.505
202406 8.229 124.409 8.633
202409 7.863 123.121 8.335
202412 8.646 124.753 9.045
202503 0.000 125.531 0.000
202506 7.605 127.251 7.800
202509 7.610 126.840 7.830
202512 7.745 128.400 7.872
202603 8.020 129.860 8.060
202606 8.149 130.510 8.149

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 Grifols (CHIX:GRFE) Overvalued in 2026?

Based on GuruFocus' analysis, Grifols stock appears to be undervalued. The current stock price of €9.11 is trading 9.2% below its estimated GF Value™ of €10.03. GuruFocus considers Grifols to be Fairly Valued.

Key valuation signals for CHIX:GRFE:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €10.03 vs. price of €9.11 (9.2% below fair value)
  • GF Score™: 79/100 with 7 warning signs

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


Grifols Business Description

Address Avinguda de la Generalitat, 152-158, Parc de Negocis Can Sant Joan, Sant Cugat del Valles, Barcelona, ESP, 08174
Grifols SA is a healthcare company engaged in activities related to plasma-derived products and diagnostic solutions. The group has four reportable segments: Biopharma, Diagnostic, Bio Supplies, and Others. The Biopharma segment focuses on products derived from human plasma for therapeutic use, while the Diagnostic segment includes the marketing of diagnostic testing equipment and reagents. The Bio Supplies segment covers biological products for non-therapeutic use and plasma sales to third parties, and the Others segment includes manufacturing services, research activities, and complementary pharmaceutical products.
79GF Score

Get the complete analysis for CHIX:GRFE

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

€9.11
Price
€10.03
GF Value