CYAN (Cyanotech) Cyclically Adjusted PB Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
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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.

CYAN Cyanotech Corp CYAN
26 GF Score
Price $0.49
GF Value $0.38
Valuation Modestly Overvalued
! 9 Warning Signs
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What is Cyanotech Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Cyanotech  (OTCPK:CYAN) 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.


Cyanotech Cyclically Adjusted PB Ratio Related Terms


Cyanotech Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Cyanotech'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.

Cyanotech Cyclically Adjusted PB Ratio Chart

Cyanotech Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.92 0.24 0.09 0.11 0.10

Cyanotech 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 0.10 0.10 0.15 0.10 0.15

CYAN vs FAMI, PAVS, NCRA: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, Cyanotech'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.


Cyanotech Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Cyanotech's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


CYAN
26GF Score
Cyanotech Corp CYAN
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Cyanotech 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.

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

For example, Cyanotech'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)
=1.101/333.9520*333.9520
=1.101

Current CPI (Jun. 2026) = 333.9520.

Cyanotech Quarterly Data

Book Value per Share CPI Adj_Book
201609 3.053 241.428 4.223
201612 2.992 241.432 4.139
201703 2.921 243.801 4.001
201706 3.015 244.955 4.110
201709 3.121 246.819 4.223
201712 3.318 246.524 4.495
201803 3.137 249.554 4.198
201806 2.911 251.989 3.858
201809 2.729 252.439 3.610
201812 2.785 251.233 3.702
201903 2.536 254.202 3.332
201906 2.565 256.143 3.344
201909 2.595 256.759 3.375
201912 2.623 256.974 3.409
202003 2.636 258.115 3.410
202006 2.652 257.797 3.435
202009 2.675 260.280 3.432
202012 2.814 260.474 3.608
202103 2.786 264.877 3.513
202106 2.873 271.696 3.531
202109 3.032 274.310 3.691
202112 3.099 278.802 3.712
202203 3.142 287.504 3.650
202206 3.068 296.311 3.458
202209 2.916 296.808 3.281
202212 2.827 296.797 3.181
202303 2.606 301.836 2.883
202306 2.391 305.109 2.617
202309 2.225 307.789 2.414
202312 2.009 306.746 2.187
202403 1.701 312.332 1.819
202406 1.534 314.175 1.631
202409 1.357 315.301 1.437
202412 1.328 315.605 1.405
202503 1.234 319.799 1.289
202506 1.106 322.561 1.145
202509 1.091 324.800 1.122
202512 1.061 324.054 1.093
202603 1.057 330.213 1.069
202606 1.101 333.952 1.101

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 Cyanotech (CYAN) Overvalued in 2026?

Based on GuruFocus' analysis, Cyanotech stock appears to be overvalued. The current stock price of $0.49 is trading 29% above its estimated GF Value™ of $0.38. GuruFocus considers Cyanotech to be Modestly Overvalued.

Key valuation signals for CYAN:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $0.38 vs. price of $0.49 (29% above fair value)
  • GF Score™: 26/100 with 9 warning signs

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


Cyanotech Business Description

Address 73-4460 Queen Kaahumanu Highway, Suite 102, Kailua-Kona, HI, USA, 96740
Cyanotech Corp is engaged in the production of natural products derived from microalgae for the nutritional supplements market. The company's products include BioAstin Hawaiian Astaxanthin and Hawaiian Spirulina Pacifica is a dietary supplement used for extra energy, a strengthened immune system, cardiovascular benefits, and as a source of antioxidant carotenoids. BioAstin Hawaiian Astaxanthin is a dietary antioxidant shown to support and maintain the body's natural inflammatory response, enhance skin, and support eye and joint health. It derives maximum revenue from the Packaged product and geographically from the United States.
26GF Score

Get the complete analysis for CYAN

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

$0.49
Price
$0.38
GF Value