Industrivarden AB (CHIX:INDUAS) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

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Director of Data and Quant Analytics at GuruFocus
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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:INDUAS Industrivarden AB CHIX:INDUAS
34 GF Score
Price kr537.00
! 4 Warning Signs
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What is Industrivarden AB Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Industrivarden AB  (CHIX:INDUAs) 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.


Industrivarden AB Cyclically Adjusted PB Ratio Related Terms


Industrivarden AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Industrivarden 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.

Industrivarden AB Cyclically Adjusted PB Ratio Chart

Industrivarden 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 1.31 1.01 1.14 1.19 1.11

Industrivarden 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 1.04 1.17 1.15 1.40 1.60

CHIX:INDUAS vs BLK, BX, KKR: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, Industrivarden 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.


Industrivarden AB Cyclically Adjusted PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Industrivarden AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


CHIX:INDUAS
34GF Score
Industrivarden AB CHIX:INDUAS
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Industrivarden 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.

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

For example, Industrivarden 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)
=519.327/134.6100*134.6100
=519.327

Current CPI (Jun. 2026) = 134.6100.

Industrivarden AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 174.938 101.138 232.836
201612 189.963 102.022 250.642
201703 213.630 102.022 281.869
201706 215.786 102.752 282.689
201709 219.276 103.279 285.796
201712 220.308 103.793 285.720
201803 223.770 103.962 289.738
201806 220.875 104.875 283.501
201809 235.516 105.679 299.992
201812 195.634 105.912 248.644
201903 230.744 105.886 293.338
201906 238.984 106.742 301.379
201909 231.229 107.214 290.315
201912 258.560 107.766 322.966
202003 215.974 106.563 272.818
202006 244.955 107.498 306.736
202009 257.577 107.635 322.129
202012 277.972 108.296 345.515
202103 319.903 108.360 397.401
202106 310.303 108.928 383.465
202109 294.704 110.338 359.532
202112 331.279 112.486 396.436
202203 285.402 114.825 334.578
202206 262.638 118.384 298.637
202209 248.366 122.296 273.374
202212 292.152 126.365 311.214
202303 319.498 127.042 338.532
202306 315.865 129.407 328.566
202309 310.971 130.224 321.446
202312 347.025 131.912 354.123
202403 385.261 132.205 392.268
202406 360.408 132.716 365.551
202409 375.914 132.304 382.465
202412 368.554 132.987 373.051
202503 386.514 132.825 391.710
202506 382.534 133.699 385.141
202509 399.635 133.480 403.018
202512 442.275 133.380 446.354
202603 471.048 133.550 474.787
202606 519.327 134.610 519.327

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.


Industrivarden AB Business Description

Address Storgatan 10, Stockholm, SWE, 114 51
Industrivarden AB is a holding company that invests in and works long-term to develop and create value in its portfolio companies. Active ownership is exercised through sizable ownership stakes in a selection of listed companies with firm market positions, good cash flows, financial strength, and clear development capacity. Its stock offers exposure to a portfolio of companies with validated business models, a wide breadth of underlying business areas, and good value potential.
34GF Score

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

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