DBVTF (DBV Technologies) Cyclically Adjusted PB Ratio: (As of Jul. 18, 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.

DBVTF DBV Technologies SA DBVTF
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What is DBV Technologies Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


DBV Technologies  (OTCPK:DBVTF) 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.


DBV Technologies Cyclically Adjusted PB Ratio Related Terms


DBV Technologies Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for DBV Technologies'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.

DBV Technologies Cyclically Adjusted PB Ratio Chart

DBV Technologies 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 0.00 0.00 0.89

DBV Technologies 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 0.40 0.43 0.89 0.96 0.00

DBVTF vs VRTX, REGN, ALNY: Cyclically Adjusted PB Ratio Comparison

For the Biotechnology subindustry, DBV Technologies'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.


DBV Technologies Cyclically Adjusted PB Ratio vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, DBV Technologies's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


DBVTF
27GF Score
DBV Technologies SA DBVTF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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DBV Technologies 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.

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

For example, DBV Technologies'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)
=0.542/123.8300*123.8300
=0.542

Current CPI (Jun. 2026) = 123.8300.

DBV Technologies Quarterly Data

Book Value per Share CPI Adj_Book
201406 2.783 100.180 3.440
201412 7.326 99.860 9.085
201506 6.026 100.440 7.429
201512 14.548 100.040 18.008
201606 13.349 100.630 16.427
201612 10.363 100.650 12.750
201706 8.876 101.320 10.848
201712 6.238 101.850 7.584
201806 7.903 103.370 9.467
201809 0.000 103.560 0.000
201812 4.607 103.470 5.514
201906 3.661 104.580 4.335
201909 2.600 104.500 3.081
201912 4.108 104.980 4.846
202003 0.000 104.590 0.000
202006 4.596 104.790 5.431
202009 0.000 104.550 0.000
202012 3.748 104.960 4.422
202103 3.083 105.750 3.610
202106 2.603 106.340 3.031
202109 2.128 106.810 2.467
202112 1.807 107.850 2.075
202203 1.493 110.490 1.673
202206 2.602 112.550 2.863
202209 2.259 112.740 2.481
202212 2.069 114.160 2.244
202303 1.905 116.790 2.020
202306 1.709 117.650 1.799
202309 1.499 118.260 1.570
202312 1.457 118.390 1.524
202403 1.161 119.470 1.203
202406 0.822 120.200 0.847
202409 0.562 119.560 0.582
202412 0.267 119.950 0.276
202503 0.028 120.380 0.029
202506 0.630 121.360 0.643
202509 0.386 120.950 0.395
202512 0.716 120.900 0.733
202603 0.703 122.420 0.711
202606 0.542 123.830 0.542

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.


DBV Technologies Business Description

Address 107 Avenue de la Republique, Batiment IRO, Chatillon, Paris, FRA, 92320
DBV Technologies SA is a clinical-stage specialty biopharmaceutical company focused on changing the field of immunotherapy by developing a novel technology platform called Viaskin. The therapeutic approach is based on epicutaneous immunotherapy or EPIT, its proprietary method of delivering biologically active compounds to the immune system through intact skin using Viaskin, an epicutaneous patch (i.e., a skin patch). Its main product candidate under development is Viaskin Peanut for the treatment of peanut-allergic patients. In addition, the company also has earlier-stage food allergy programs, including Viaskin Milk and Eosinophilic Esophagitis, or EoE.
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