CCL Industries (FRA:1C9) Cyclically Adjusted PB Ratio: 4.10 (As of Aug. 08, 2026) — 20% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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.
Reviewed by: Charlie Tian Charlie Tian
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:1C9 CCL Industries Inc FRA:1C9
82 GF Score
Price €57.50
GF Value €50.92
Valuation Modestly Overvalued
! 5 Warning Signs
View Full Analysis

What is CCL Industries Cyclically Adjusted PB Ratio?

CCL Industries FRA:1C9 82 Cyclically Adjusted PB Ratio is 4.10 as of Aug. 08, 2026, which is 20% below its 10-year median of 5.15. GuruFocus rates FRA:1C9 with a GF Score™ of 82/100 and a GF Value™ of €50.92 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 312 Packaging & Containers companies, CCL Industries ranks worse than 88.46% on this metric.

As of today (2026-08-08), CCL Industries's current share price is €57.50. CCL Industries's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was €14.02. CCL Industries's Cyclically Adjusted PB Ratio for today is 4.10.

The historical rank and industry rank for CCL Industries's Cyclically Adjusted PB Ratio or its related term are showing as below:

FRA:1C9' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 3.21   Med: 5.15   Max: 10.89
Current: 4.06

During the past years, CCL Industries's highest Cyclically Adjusted PB Ratio was 10.89. The lowest was 3.21. And the median was 5.15.

FRA:1C9's Cyclically Adjusted PB Ratio is ranked worse than
88.46% of 312 companies
in the Packaging & Containers industry
Industry Median: 1.1 vs FRA:1C9: 4.06

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.

CCL Industries's adjusted book value per share data for the three months ended in Mar. 2026 was €20.437. 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 €14.02 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


CCL Industries  (FRA:1C9) 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.


CCL Industries Cyclically Adjusted PB Ratio Related Terms


CCL Industries Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for CCL Industries'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.

CCL Industries Cyclically Adjusted PB Ratio Chart

CCL Industries 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 5.38 4.00 3.49 3.84 3.97

CCL Industries Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 3.45 3.77 3.66 3.97 3.85

FRA:1C9 vs SW, PKG, IP: Cyclically Adjusted PB Ratio Comparison

For the Packaging & Containers subindustry, CCL Industries'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.


CCL Industries Cyclically Adjusted PB Ratio vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, CCL Industries's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:1C9
82GF Score
CCL Industries Inc FRA:1C9
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CCL Industries 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.

CCL Industries's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=57.50/14.02
=4.10

* 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.

CCL Industries's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, CCL Industries's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=20.437/132.2623*132.2623
=20.437

Current CPI (Mar. 2026) = 132.2623.

CCL Industries Quarterly Data

Book Value per Share CPI Adj_Book
201606 6.454 102.002 8.369
201609 6.740 101.765 8.760
201612 7.171 101.449 9.349
201703 7.349 102.634 9.471
201706 7.387 103.029 9.483
201709 7.687 103.345 9.838
201712 8.077 103.345 10.337
201803 8.499 105.004 10.705
201806 8.873 105.557 11.118
201809 8.994 105.636 11.261
201812 9.841 105.399 12.349
201903 10.171 106.979 12.575
201906 10.268 107.690 12.611
201909 10.779 107.611 13.248
201912 11.088 107.769 13.608
202003 11.178 107.927 13.698
202006 11.238 108.401 13.712
202009 11.370 108.164 13.903
202012 11.754 108.559 14.320
202103 12.489 110.298 14.976
202106 13.149 111.720 15.567
202109 13.567 112.905 15.893
202112 14.377 113.774 16.713
202203 15.073 117.646 16.946
202206 15.960 120.806 17.474
202209 17.985 120.648 19.716
202212 16.745 120.964 18.309
202303 17.049 122.702 18.377
202306 17.491 124.203 18.626
202309 18.066 125.230 19.080
202312 17.775 125.072 18.797
202403 18.320 126.258 19.191
202406 19.126 127.522 19.837
202409 19.181 127.285 19.931
202412 20.020 127.364 20.790
202503 20.025 129.181 20.503
202506 19.565 129.892 19.922
202509 19.833 130.287 20.134
202512 20.155 130.366 20.448
202603 20.437 132.262 20.437

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 4.10 mean?
CCL Industries (FRA:1C9) has a Cyclically Adjusted PB Ratio of 4.10 as of Aug. 08, 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 CCL Industries and its competitors. This is 20% below median its historical median of 5.15. Over the past decade, CCL Industries' Cyclically Adjusted PB Ratio has ranged from 3.21 to 10.89. According to the industry distribution chart, CCL Industries ranks #276 out of 312 companies in the Packaging & Containers industry, placing it in the top 88.5%.
Is CCL Industries' Cyclically Adjusted PB Ratio too high?
CCL Industries' current Cyclically Adjusted PB Ratio of 4.10 is 20% below median its 10-year median of 5.15. Over the past 10 years, this metric has ranged from a low of 3.21 to a high of 10.89. The Packaging & Containers industry median Cyclically Adjusted PB Ratio is 1.10. CCL Industries' value of 4.10 is 272.7% above this industry median. Based on the distribution chart, CCL Industries ranks #276 out of 312 companies in the Packaging & Containers industry, which is in the bottom quartile relative to peers. Overall, CCL Industries has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CCL Industries' Cyclically Adjusted PB Ratio compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, CCL Industries ranks #276 out of 312 companies for Cyclically Adjusted PB Ratio. This places CCL Industries in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.10. CCL Industries' value of 4.10 is 272.7% above this benchmark. Historically, CCL Industries' own Cyclically Adjusted PB Ratio has ranged from 3.21 to 10.89 over the past decade. While the company's 10-year median is 5.15 vs. the industry median of 1.10, CCL Industries 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 Packaging & Containers company?
The median Cyclically Adjusted PB Ratio among Packaging & Containers companies is 1.10, based on 312 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. CCL Industries's current Cyclically Adjusted PB Ratio of 4.10 is 272.7% 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 CCL Industries and its competitors. For the Packaging & Containers industry, the median Cyclically Adjusted PB Ratio is 1.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CCL Industries's current Cyclically Adjusted PB Ratio is 4.10, which is 20% below median its own 10-year median of 5.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CCL Industries stock overvalued right now?
Based on GuruFocus' analysis, CCL Industries (FRA:1C9) is currently considered Modestly Overvalued. The stock's GF Value™ is €50.92, compared to a current price of €57.50 — trading 12.9% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 4.10, which is 20% below median its 10-year median of 5.15 and 272.7% above the Packaging & Containers industry median of 1.10. CCL Industries' overall GF Score™ is 82/100 with 5 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 CCL Industries (FRA:1C9), the current Cyclically Adjusted PB Ratio is 4.10 as of Aug. 08, 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 CCL Industries (FRA:1C9) Overvalued in 2026?

Based on GuruFocus' analysis, CCL Industries stock appears to be overvalued. The current stock price of €57.50 is trading 12.9% above its estimated GF Value™ of €50.92. GuruFocus considers CCL Industries to be Modestly Overvalued.

Key valuation signals for FRA:1C9:

  • Cyclically Adjusted PB Ratio: 4.10 (20% below median its 10-year median of 5.15)
  • GF Value™: €50.92 vs. price of €57.50 (12.9% above fair value)
  • GF Score™: 82/100 with 5 warning signs
  • Industry Position: 272.7% above the Packaging & Containers median (#276 of 312)

No single metric tells the full story. See the FRA:1C9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CCL Industries Business Description

Address 111 Gordon Baker Road, Suite 801, Toronto, ON, CAN, M2H 3R1
CCL Industries Inc manufactures and sells packaging and packaging-related products. The company operates through various segments, which include The CCL segment, which generates the majority of revenue, and sells pressure-sensitive and extruded film materials used for labels on consumer packaging, healthcare, automotive, and consumer durable products. The Avery segment sells software, labels, tags, dividers, badges, and specialty card products under the Avery brand. The Checkpoint segment includes the manufacturing and selling of technology-driven, inventory management and labeling solutions. Innovia segment manufactures specialty films. Its geographical segments include Canada; USA and Puerto Rico; Mexico, Brazil, Chile, and Argentina; Europe; and Asia, Australia, Africa, and New Zealand.
82GF Score

Get the complete analysis for FRA:1C9

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

€57.50
Price
€50.92
GF Value