VNV Global AB (CHIX:VNVS) Cyclically Adjusted PB Ratio: 0.24 (As of Sep. 16, 2026) — 11% Below Median

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Director of Data and Quant Analytics at GuruFocus
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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
34 GF Score
Price kr20.39
! 1 Warning Sign
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What is VNV Global AB Cyclically Adjusted PB Ratio?

VNV Global AB CHIX:VNVS 34 Cyclically Adjusted PB Ratio is 0.24 as of Sep. 16, 2026, which is 11% below its 10-year median of 0.27. GuruFocus rates CHIX:VNVS with a GF Score™ of 34/100. The stock has 1 warning sign investors should review. Among 967 Asset Management companies, VNV Global AB ranks better than 92.35% on this metric.

As of today (2026-09-16), 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 kr85.10. VNV Global AB's Cyclically Adjusted PB Ratio for today is 0.24.

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: 0.21

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
92.35% of 967 companies
in the Asset Management industry
Industry Median: 0.84 vs CHIX:VNVs: 0.21

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 kr32.909. 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 kr85.10 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 0.00 0.00 0.16 0.23 0.24

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 0.23 0.23 0.24 0.24 0.24

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
34GF 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
=20.39/85.096
=0.24

* 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)
=32.909/134.6100*134.6100
=32.909

Current CPI (Jun. 2026) = 134.6100.

VNV Global AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 64.557 101.138 85.923
201612 73.606 102.022 97.118
201703 74.103 102.022 97.774
201706 69.216 102.752 90.676
201709 67.828 103.279 88.405
201712 81.513 103.793 105.715
201803 85.896 103.962 111.218
201806 90.353 104.875 115.971
201809 91.801 105.679 116.933
201812 87.959 105.912 111.793
201903 0.000 105.886 0.000
201906 79.340 106.742 100.054
201909 82.980 107.214 104.184
201912 89.061 107.766 111.246
202003 88.739 106.563 112.095
202006 86.514 107.498 108.334
202009 84.324 107.635 105.457
202012 92.597 108.296 115.097
202103 100.637 108.360 125.017
202106 107.049 108.928 132.288
202109 121.718 110.338 148.493
202112 108.978 112.486 130.412
202203 92.082 114.825 107.948
202206 75.381 118.384 85.713
202209 66.202 122.296 72.868
202212 55.209 126.365 58.811
202303 62.465 127.042 66.186
202306 59.823 129.407 62.229
202309 58.906 130.224 60.890
202312 51.266 131.912 52.315
202403 54.431 132.205 55.421
202406 48.515 132.716 49.207
202409 44.463 132.304 45.238
202412 49.046 132.987 49.644
202503 43.467 132.825 44.051
202506 43.532 133.699 43.829
202509 42.866 133.480 43.229
202512 39.926 133.380 40.294
202603 33.506 133.550 33.772
202606 32.909 134.610 32.909

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 0.24 mean?
VNV Global AB (CHIX:VNVS) has a Cyclically Adjusted PB Ratio of 0.24 as of Sep. 16, 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 11% 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 #74 out of 967 companies in the Asset Management industry, placing it in the top 7.7%.
Is VNV Global AB's Cyclically Adjusted PB Ratio too high?
VNV Global AB's current Cyclically Adjusted PB Ratio of 0.24 is 11% 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 0.24 is 71.4% below this industry median. Based on the distribution chart, VNV Global AB ranks #74 out of 967 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 34/100, 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 #74 out of 967 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 0.24 is 71.4% 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 967 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 0.24 is 71.4% 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 0.24, which is 11% 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 0.24. The current Cyclically Adjusted PB Ratio is 0.24, which is 11% below median its 10-year median of 0.27 and 71.4% below the Asset Management industry median of 0.84. VNV Global AB's overall GF Score™ is 34/100 with 1 warning sign to review. 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 0.24 as of Sep. 16, 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.
34GF 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.

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