Grifols (CHIX:GRFPE) Cyclically Adjusted PB Ratio: (As of Sep. 22, 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.

CHIX:GRFPE Grifols SA CHIX:GRFPE
83 GF Score
Price €7.07
GF Value €7.69
Valuation Fairly Valued
! 7 Warning Signs
View Full Analysis

What is Grifols Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Grifols  (CHIX:GRFPe) 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 1.51 0.99 1.20 0.68 0.77

Grifols Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 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 0.58 0.58 0.77 0.60 0.59

CHIX:GRFPE 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:GRFPE
83GF Score
Grifols SA CHIX:GRFPE
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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)
=11.725/131.3300*131.3300
=11.725

Current CPI (Jun. 2026) = 131.3300.

Grifols Quarterly Data

Book Value per Share CPI Adj_Book
201312 3.065 101.306 3.973
201403 3.235 100.139 4.243
201409 3.694 100.441 4.830
201503 4.586 99.474 6.055
201509 4.686 99.559 6.181
201603 4.824 98.638 6.423
201606 4.994 100.333 6.537
201609 5.173 99.737 6.812
201612 5.460 101.842 7.041
201703 5.590 100.896 7.276
201706 5.247 101.848 6.766
201709 5.251 101.524 6.793
201712 5.319 102.975 6.784
201803 5.426 102.122 6.978
201806 5.808 104.165 7.323
201809 6.066 103.818 7.673
201812 6.869 104.193 8.658
201903 7.133 103.488 9.052
201906 7.142 104.612 8.966
201909 7.735 103.905 9.777
201912 10.006 105.015 12.513
202003 10.534 103.469 13.370
202006 10.285 104.254 12.956
202009 10.383 103.521 13.172
202012 9.817 104.456 12.343
202103 10.513 104.857 13.167
202303 12.051 118.948 13.305
202306 12.117 120.278 13.230
202309 12.626 121.343 13.665
202312 11.064 121.300 11.979
202403 11.960 122.762 12.795
202406 12.206 124.409 12.885
202409 11.773 123.121 12.558
202412 12.650 124.753 13.317
202503 12.190 125.531 12.753
202506 11.178 127.251 11.536
202509 11.104 126.840 11.497
202512 11.171 128.400 11.426
202603 11.530 129.860 11.661
202606 11.725 131.330 11.725

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:GRFPE) Overvalued in 2026?

Based on GuruFocus' analysis, Grifols stock appears to be undervalued. The current stock price of €7.07 is trading 8.1% below its estimated GF Value™ of €7.69. GuruFocus considers Grifols to be Fairly Valued.

Key valuation signals for CHIX:GRFPE:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €7.69 vs. price of €7.07 (8.1% below fair value)
  • GF Score™: 83/100 with 7 warning signs

No single metric tells the full story. See the CHIX:GRFPE 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.
83GF Score

Get the complete analysis for CHIX:GRFPE

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

€7.07
Price
€7.69
GF Value