Q2 Holdings (FRA:0Q2) Cyclically Adjusted PB Ratio: (As of Jul. 30, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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.
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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.

FRA:0Q2 Q2 Holdings Inc FRA:0Q2
68 GF Score
Price €50.64
GF Value €60.10
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Q2 Holdings Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Q2 Holdings  (FRA:0Q2) 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.


Q2 Holdings Cyclically Adjusted PB Ratio Related Terms


Q2 Holdings Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Q2 Holdings'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.

Q2 Holdings Cyclically Adjusted PB Ratio Chart

Q2 Holdings 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 4.57 6.57 13.79 8.96

Q2 Holdings 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 12.13 9.15 8.96 5.66 0.00

FRA:0Q2 vs CCC, NATL, MNDY: Cyclically Adjusted PB Ratio Comparison

For the Software - Application subindustry, Q2 Holdings'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.


Q2 Holdings Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Q2 Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Q2 Holdings's Cyclically Adjusted PB Ratio falls into.


FRA:0Q2
68GF Score
Q2 Holdings Inc FRA:0Q2
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Q2 Holdings 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.

Q2 Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Q2 Holdings'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)
=8.537/333.9520*333.9520
=8.537

Current CPI (Jun. 2026) = 333.9520.

Q2 Holdings Quarterly Data

Book Value per Share CPI Adj_Book
201609 2.277 241.428 3.150
201612 2.351 241.432 3.252
201703 2.293 243.801 3.141
201706 2.166 244.955 2.953
201709 2.067 246.819 2.797
201712 2.147 246.524 2.908
201803 2.962 249.554 3.964
201806 3.162 251.989 4.190
201809 3.164 252.439 4.186
201812 3.208 251.233 4.264
201903 3.057 254.202 4.016
201906 7.179 256.143 9.360
201909 7.207 256.759 9.374
201912 7.057 256.974 9.171
202003 6.671 258.115 8.631
202006 10.761 257.797 13.940
202009 10.043 260.280 12.886
202012 9.518 260.474 12.203
202103 9.447 264.877 11.911
202106 8.783 271.696 10.796
202109 8.703 274.310 10.595
202112 8.866 278.802 10.620
202203 7.083 287.504 8.227
202206 7.278 296.311 8.203
202209 7.557 296.808 8.503
202212 6.851 296.797 7.709
202303 7.047 301.836 7.797
202306 6.971 305.109 7.630
202309 7.048 307.789 7.647
202312 6.967 306.746 7.585
202403 7.118 312.332 7.611
202406 7.407 314.175 7.873
202409 7.386 315.301 7.823
202412 8.143 315.605 8.616
202503 8.098 319.799 8.456
202506 8.113 322.561 8.400
202509 8.490 324.800 8.729
202512 9.008 324.054 9.283
202603 8.443 330.213 8.539
202606 8.537 333.952 8.537

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 Q2 Holdings (FRA:0Q2) Overvalued in 2026?

Based on GuruFocus' analysis, Q2 Holdings stock appears to be undervalued. The current stock price of €50.64 is trading 15.7% below its estimated GF Value™ of €60.10. GuruFocus considers Q2 Holdings to be Modestly Undervalued.

Key valuation signals for FRA:0Q2:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €60.10 vs. price of €50.64 (15.7% below fair value)
  • GF Score™: 68/100 with 4 warning signs

No single metric tells the full story. See the FRA:0Q2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Q2 Holdings Business Description

Other Exchanges QTWO:USAQTWO:Mexico
Address 10355 Pecan Park Boulevard, Austin, TX, USA, 78729
Q2 Holdings Inc provides digital solutions to financial institutions, financial technology companies, and alternative finance companies, seeking to incorporate banking into their customer engagement and servicing strategies. The company helps its clients with supervisory, consumer protection, privacy, third-party risk management requirements, and cyber threats and fraud, among other applications, by offering a portfolio of digital solutions, which comprises its digital banking offerings, digital lending and relationship pricing solutions, risk and fraud solutions, as well as Q2 Innovation Studio and Helix. Q2 derives the majority of its revenue from subscription fees for the use of its hosted solutions.
68GF Score

Get the complete analysis for FRA:0Q2

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

€50.64
Price
€60.10
GF Value