VNV Global AB (CHIX:VNVS) Cyclically Adjusted PB Ratio: 0.19 (As of Aug. 06, 2026) — 30% Below Median

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:VNVS VNV Global AB CHIX:VNVS
35 GF Score
Price kr20.39
View Full Analysis

What is VNV Global AB Cyclically Adjusted PB Ratio?

VNV Global AB CHIX:VNVS 35 Cyclically Adjusted PB Ratio is 0.19 as of Aug. 06, 2026, which is 30% below its 10-year median of 0.27. GuruFocus rates CHIX:VNVS with a GF Score™ of 35/100. Among 1,000 Asset Management companies, VNV Global AB ranks better than 92.5% on this metric.

As of today (2026-08-06), VNV Global AB's current share price is kr20.39. VNV Global AB's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was kr107.03. VNV Global AB's Cyclically Adjusted PB Ratio for today is 0.19.

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

CHIX:VNVs' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.15   Med: 0.27   Max: 1.93
Current: 0.2

During the past years, VNV Global AB's highest Cyclically Adjusted PB Ratio was 1.93. The lowest was 0.15. And the median was 0.27.

CHIX:VNVs's Cyclically Adjusted PB Ratio is ranked better than
92.5% of 1000 companies
in the Asset Management industry
Industry Median: 0.84 vs CHIX:VNVs: 0.20

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.

VNV Global AB's adjusted book value per share data for the three months ended in Jun. 2026 was kr34.234. 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 kr107.03 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


VNV Global AB  (CHIX:VNVs) 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.


VNV Global AB Cyclically Adjusted PB Ratio Related Terms


VNV Global AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for VNV Global 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.

VNV Global AB Cyclically Adjusted PB Ratio Chart

VNV Global 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 1.45 0.31 0.23 0.20 0.25

VNV Global 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 0.19 0.29 0.25 0.21 0.19

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

For the Asset Management subindustry, VNV Global 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.


VNV Global AB Cyclically Adjusted PB Ratio vs Asset Management Industry

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

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


CHIX:VNVS
35GF Score
VNV Global AB CHIX:VNVS
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

VNV Global 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=20.39/107.03
=0.19

* 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.

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

For example, VNV Global 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)
=34.234/134.6100*134.6100
=34.234

Current CPI (Jun. 2026) = 134.6100.

VNV Global AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 67.177 101.138 89.410
201612 77.955 102.022 102.856
201703 77.320 102.022 102.018
201706 74.418 102.752 97.491
201709 69.555 103.279 90.655
201712 87.315 103.793 113.240
201803 88.324 103.962 114.362
201806 92.890 104.875 119.227
201809 96.433 105.679 122.833
201812 93.623 105.912 118.991
201903 70.363 105.886 89.450
201906 83.918 106.742 105.828
201909 85.625 107.214 107.505
201912 93.779 107.766 117.139
202003 92.134 106.563 116.384
202006 86.456 107.498 108.261
202009 83.433 107.635 104.343
202012 95.044 108.296 118.138
202103 99.335 108.360 123.399
202106 104.675 108.928 129.355
202109 119.775 110.338 146.123
202112 109.409 112.486 130.928
202203 97.036 114.825 113.756
202206 73.818 118.384 83.936
202209 65.268 122.296 71.840
202212 55.145 126.365 58.743
202303 63.108 127.042 66.868
202306 59.645 129.407 62.043
202309 60.102 130.224 62.126
202312 52.181 131.912 53.248
202403 52.999 132.205 53.963
202406 48.043 132.716 48.729
202409 44.868 132.304 45.650
202412 48.761 132.987 49.356
202503 43.847 132.825 44.436
202506 43.613 133.699 43.910
202509 42.362 133.480 42.721
202512 39.505 133.390 39.866
202603 33.606 133.560 33.870
202606 34.234 134.610 34.234

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 0.19 mean?
VNV Global AB (CHIX:VNVS) has a Cyclically Adjusted PB Ratio of 0.19 as of Aug. 06, 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 VNV Global AB and its competitors. This is 30% below median its historical median of 0.27. Over the past decade, VNV Global AB's Cyclically Adjusted PB Ratio has ranged from 0.15 to 1.93. According to the industry distribution chart, VNV Global AB ranks #75 out of 1000 companies in the Asset Management industry, placing it in the top 7.5%.
Is VNV Global AB's Cyclically Adjusted PB Ratio too high?
VNV Global AB's current Cyclically Adjusted PB Ratio of 0.19 is 30% below median its 10-year median of 0.27. Over the past 10 years, this metric has ranged from a low of 0.15 to a high of 1.93. The Asset Management industry median Cyclically Adjusted PB Ratio is 0.84. VNV Global AB's value of 0.19 is 77.4% below this industry median. Based on the distribution chart, VNV Global AB ranks #75 out of 1000 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, VNV Global AB has a GF Score™ of 35/100, reflecting its overall financial health beyond just this single metric.
How does VNV Global AB's Cyclically Adjusted PB Ratio compare to BLK and BX?
According to the Asset Management industry distribution chart, VNV Global AB ranks #75 out of 1000 companies for Cyclically Adjusted PB Ratio. This places VNV Global AB in the top 8% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 0.84. VNV Global AB's value of 0.19 is 77.4% below this benchmark. Historically, VNV Global AB's own Cyclically Adjusted PB Ratio has ranged from 0.15 to 1.93 over the past decade. While the company's 10-year median is 0.27 vs. the industry median of 0.84, VNV Global AB has consistently been below 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 an Asset Management company?
The median Cyclically Adjusted PB Ratio among Asset Management companies is 0.84, based on 1,000 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. VNV Global AB's current Cyclically Adjusted PB Ratio of 0.19 is 77.4% below 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 VNV Global AB and its competitors. For the Asset Management industry, the median Cyclically Adjusted PB Ratio is 0.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VNV Global AB's current Cyclically Adjusted PB Ratio is 0.19, which is 30% below median its own 10-year median of 0.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VNV Global AB stock overvalued right now?
VNV Global AB (CHIX:VNVS) has a current Cyclically Adjusted PB Ratio of 0.19. The current Cyclically Adjusted PB Ratio is 0.19, which is 30% below median its 10-year median of 0.27 and 77.4% below the Asset Management industry median of 0.84. VNV Global AB's overall GF Score™ is 35/100. 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 VNV Global AB (CHIX:VNVS), the current Cyclically Adjusted PB Ratio is 0.19 as of Aug. 06, 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.

VNV Global AB Business Description

Address Master Samuelsgatan 1, 1st Floor, Stockholm, SWE, SE 111 44
VNV Global AB is an investment company that invests in unlisted companies in both developed and emerging markets. Its focus is on long-term investments with the potential for value appreciation, particularly in businesses with network effects. Its investment portfolio mainly comprises holdings in digital health, mobility, marketplace, and other sectors. Majority company invest in mobility.
35GF Score

Get the complete analysis for CHIX:VNVS

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

kr20.39
Price