Skandinaviska Enskilda Banken AB (CHIX:SEBAS) Cyclically Adjusted PB Ratio: (As of Jul. 15, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:SEBAS Skandinaviska Enskilda Banken AB CHIX:SEBAS
72 GF Score
Price kr200.10
GF Value kr149.48
Valuation Significantly Overvalued
! 8 Warning Signs
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What is Skandinaviska Enskilda Banken AB Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Skandinaviska Enskilda Banken AB  (CHIX:SEBAs) 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.


Skandinaviska Enskilda Banken AB Cyclically Adjusted PB Ratio Related Terms


Skandinaviska Enskilda Banken AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Skandinaviska Enskilda Banken 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.

Skandinaviska Enskilda Banken AB Cyclically Adjusted PB Ratio Chart

Skandinaviska Enskilda Banken 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 1.81 1.47 1.57 1.64 2.03

Skandinaviska Enskilda Banken 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 1.74 1.93 2.03 1.78 0.00

CHIX:SEBAS vs PNC, USB: Cyclically Adjusted PB Ratio Comparison

For the Banks - Regional subindustry, Skandinaviska Enskilda Banken 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.


Skandinaviska Enskilda Banken AB Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Skandinaviska Enskilda Banken AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


CHIX:SEBAS
72GF Score
Skandinaviska Enskilda Banken AB CHIX:SEBAS
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Skandinaviska Enskilda Banken 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.

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

For example, Skandinaviska Enskilda Banken 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)
=108.751/134.1100*134.1100
=108.751

Current CPI (Jun. 2026) = 134.1100.

Skandinaviska Enskilda Banken AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 62.492 101.138 82.865
201612 64.996 102.022 85.439
201703 62.087 102.022 81.615
201706 63.865 102.752 83.355
201709 65.796 103.279 85.438
201712 65.175 103.793 84.212
201803 60.131 103.962 77.569
201806 64.523 104.875 82.510
201809 67.196 105.679 85.274
201812 68.760 105.912 87.067
201903 63.995 105.886 81.053
201906 66.105 106.742 83.054
201909 67.604 107.214 84.563
201912 71.994 107.766 89.593
202003 72.581 106.563 91.344
202006 73.913 107.498 92.211
202009 76.658 107.635 95.513
202012 79.531 108.296 98.489
202103 80.811 108.360 100.015
202106 84.787 108.928 104.388
202109 88.443 110.338 107.498
202112 89.607 112.486 106.833
202203 86.893 114.825 101.487
202206 90.177 118.384 102.156
202209 93.119 122.296 102.114
202212 96.592 126.365 102.512
202303 101.285 127.042 106.920
202306 99.975 129.407 103.609
202309 104.416 130.224 107.532
202312 106.990 131.912 108.773
202403 101.461 132.205 102.923
202406 106.119 132.716 107.234
202409 110.258 132.304 111.763
202412 114.406 132.987 115.372
202503 117.489 132.825 118.626
202506 108.863 133.699 109.198
202509 112.879 133.480 113.412
202512 117.387 133.390 118.021
202603 110.288 133.560 110.742
202606 108.751 134.110 108.751

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 Skandinaviska Enskilda Banken AB (CHIX:SEBAS) Overvalued in 2026?

Based on GuruFocus' analysis, Skandinaviska Enskilda Banken AB stock appears to be overvalued. The current stock price of kr200.10 is trading 33.9% above its estimated GF Value™ of kr149.48. GuruFocus considers Skandinaviska Enskilda Banken AB to be Significantly Overvalued.

Key valuation signals for CHIX:SEBAS:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: kr149.48 vs. price of kr200.10 (33.9% above fair value)
  • GF Score™: 72/100 with 8 warning signs

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


Skandinaviska Enskilda Banken AB Business Description

Address Kungstradgardsgatan 8, Stockholm, SWE, SE-106 40
Skandinaviska Enskilda Banken is a Swedish universal bank with a strong focus on the corporate lending sector. The bank operates in the Nordics, the Baltics, Germany, and the United Kingdom but derives the majority of its operating profits from Sweden. SEB specializes in corporate lending, particularly to large corporations. Additionally, it serves large midcorporate and multinational companies, financial institutions, and small and medium-size enterprises. It also serves about 4 million private customers in Sweden and the Baltics. The bank offers asset management, life insurance, and private banking services to its clients.
72GF Score

Get the complete analysis for CHIX:SEBAS

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

kr200.10
Price
kr149.48
GF Value