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argenx SEFRA:1AE -1.17%79 Cyclically Adjusted PB Ratio is 16.65 as of Jul. 29, 2026, which is 1% below its 10-year median of 16.88. GuruFocus rates FRA:1AE with a GF Score™ of 79/100 and a GF Value™ of €1,281.96 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 698 Biotechnology companies, argenx SE ranks worse than 92.12% on this metric.
The historical rank and industry rank for argenx SE's Cyclically Adjusted PB Ratio or its related term are showing as below:
FRA:1AE'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 12.57 Med: 16.88 Max: 22.91
Current: 15.88
During the past years, argenx SE's highest Cyclically Adjusted PB Ratio was 22.91. The lowest was 12.57. And the median was 16.88.
FRA:1AE's Cyclically Adjusted PB Ratio is ranked worse than 92.12% of 698
companies
in the Biotechnology industry
Industry Median: 1.59
vs FRA:1AE: 15.88
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.
argenx SE's adjusted book value per share data for the three months ended in Jun. 2026 was €116.824. 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 €47.88 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
argenx SE (FRA:1AE) 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.
argenx SE Cyclically Adjusted PB Ratio Related Terms
argenx SE Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for argenx SE'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.
FRA:1AE vs VRTX, REGN, RVMD: Cyclically Adjusted PB Ratio Comparison
For the Biotechnology subindustry, argenx SE'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.
argenx SE Cyclically Adjusted PB Ratio vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, argenx SE's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where argenx SE's Cyclically Adjusted PB Ratio falls into.
argenx SE 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.
argenx SE's Cyclically Adjusted PB Ratio for today is calculated as
* 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.
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 16.65 mean?
argenx SE (FRA:1AE) has a Cyclically Adjusted PB Ratio of 16.65 as of Jul. 29, 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 argenx SE and its competitors. This is near median its historical median of 16.88. Over the past decade, argenx SE's Cyclically Adjusted PB Ratio has ranged from 12.57 to 22.91. According to the industry distribution chart, argenx SE ranks #643 out of 698 companies in the Biotechnology industry, placing it in the top 92.1%.
Is argenx SE's Cyclically Adjusted PB Ratio too high?
argenx SE's current Cyclically Adjusted PB Ratio of 16.65 is near median its 10-year median of 16.88. Over the past 10 years, this metric has ranged from a low of 12.57 to a high of 22.91. The Biotechnology industry median Cyclically Adjusted PB Ratio is 1.59. argenx SE's value of 16.65 is 947.2% above this industry median. Based on the distribution chart, argenx SE ranks #643 out of 698 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, argenx SE has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does argenx SE's Cyclically Adjusted PB Ratio compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, argenx SE ranks #643 out of 698 companies for Cyclically Adjusted PB Ratio. This places argenx SE in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.59. argenx SE's value of 16.65 is 947.2% above this benchmark. Historically, argenx SE's own Cyclically Adjusted PB Ratio has ranged from 12.57 to 22.91 over the past decade. While the company's 10-year median is 16.88 vs. the industry median of 1.59, argenx SE has consistently been above 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 a Biotechnology company?
The median Cyclically Adjusted PB Ratio among Biotechnology companies is 1.59, based on 698 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. argenx SE's current Cyclically Adjusted PB Ratio of 16.65 is 947.2% above 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 argenx SE and its competitors. For the Biotechnology industry, the median Cyclically Adjusted PB Ratio is 1.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. argenx SE's current Cyclically Adjusted PB Ratio is 16.65, which is near median its own 10-year median of 16.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is argenx SE stock overvalued right now?
Based on GuruFocus' analysis, argenx SE (FRA:1AE) is currently considered Significantly Undervalued. The stock's GF Value™ is €1,281.96, compared to a current price of €797.00 — trading 37.8% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 16.65, which is near median its 10-year median of 16.88 and 947.2% above the Biotechnology industry median of 1.59. argenx SE's overall GF Score™ is 79/100 with 3 warning signs 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 argenx SE (FRA:1AE), the current Cyclically Adjusted PB Ratio is 16.65 as of Jul. 29, 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.
Is argenx SE (FRA:1AE) Overvalued in 2026?
Based on GuruFocus' analysis, argenx SE stock appears to be undervalued.
The current stock price of €797.00 is trading 37.8% below its estimated GF Value™ of €1,281.96.
GuruFocus considers argenx SE to be Significantly Undervalued.
Key valuation signals for FRA:1AE:
Cyclically Adjusted PB Ratio: 16.65 (near median its 10-year median of 16.88)
GF Value™: €1,281.96 vs. price of €797.00 (37.8% below fair value)
Industry Position: 947.2% above the Biotechnology median (#643 of 698)
No single metric tells the full story. See the FRA:1AE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Argenx is a Dutch biopharmaceutical company focused on developing antibody-based therapies for rare autoimmune diseases. The company's lead product, Vyvgart (efgartigimod), was approved by the FDA in December 2021 for the treatment of generalized myasthenia gravis (gMG). In 2022, Argenx also received FDA approval for Vyvgart Hytrulo, a subcutaneous formulation of Vyvgart, offering a more convenient option compared with Vyvgart's intravenous administration. In 2024, the FDA approved Vyvgart Hytrulo for Chronic Inflammatory Demyelinating Polyneuropathy, a rare immune-mediated neuromuscular disorder of the peripheral nervous system. Argenx is focused on innovation and developing its pipeline for treatments such as primary immune thrombocytopenia, thyroid eye disease, and Sjogren's Disease.
79GF Score
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