BW LPG (FRA:1PE) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

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:1PE BW LPG Ltd FRA:1PE
80 GF Score
Price €22.44
GF Value €12.95
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is BW LPG Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


BW LPG  (FRA:1PE) 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.


BW LPG Cyclically Adjusted PB Ratio Related Terms


BW LPG Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for BW LPG'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.

BW LPG Cyclically Adjusted PB Ratio Chart

BW LPG 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 0.70 0.82 1.39 1.06 1.08

BW LPG 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 1.03 1.21 1.10 1.41 1.46

FRA:1PE vs WMB, EPD, ET: Cyclically Adjusted PB Ratio Comparison

For the Oil & Gas Midstream subindustry, BW LPG'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.


BW LPG Cyclically Adjusted PB Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, BW LPG's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:1PE
80GF Score
BW LPG Ltd FRA:1PE
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BW LPG 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.

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

For example, BW LPG'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)
=11.838/333.9520*333.9520
=11.838

Current CPI (Jun. 2026) = 333.9520.

BW LPG Quarterly Data

Book Value per Share CPI Adj_Book
201609 6.571 241.428 9.089
201612 7.467 241.432 10.328
201703 7.416 243.801 10.158
201706 6.900 244.955 9.407
201709 6.503 246.819 8.799
201712 6.314 246.524 8.553
201803 6.154 249.554 8.235
201806 6.327 251.989 8.385
201809 6.364 252.439 8.419
201812 6.182 251.233 8.217
201903 6.097 254.202 8.010
201906 6.094 256.143 7.945
201909 7.040 256.759 9.157
201912 7.566 256.974 9.832
202003 7.599 258.115 9.832
202006 7.646 257.797 9.905
202009 7.351 260.280 9.432
202012 7.407 260.474 9.496
202103 8.009 264.877 10.098
202106 8.011 271.696 9.847
202109 8.365 274.310 10.184
202112 8.900 278.802 10.661
202203 9.771 287.504 11.350
202206 10.506 296.311 11.841
202209 11.404 296.808 12.831
202212 11.216 296.797 12.620
202303 11.235 301.836 12.430
202306 10.679 305.109 11.689
202309 10.969 307.789 11.901
202312 10.955 306.746 11.927
202403 11.709 312.332 12.520
202406 11.337 314.175 12.051
202409 11.093 315.301 11.749
202412 12.347 315.605 13.065
202503 11.690 319.799 12.207
202506 10.761 322.561 11.141
202509 10.869 324.800 11.175
202512 11.433 324.054 11.782
202603 11.546 330.213 11.677
202606 11.838 333.952 11.838

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 BW LPG (FRA:1PE) Overvalued in 2026?

Based on GuruFocus' analysis, BW LPG stock appears to be overvalued. The current stock price of €22.44 is trading 73.3% above its estimated GF Value™ of €12.95. GuruFocus considers BW LPG to be Significantly Overvalued.

Key valuation signals for FRA:1PE:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €12.95 vs. price of €22.44 (73.3% above fair value)
  • GF Score™: 80/100 with 9 warning signs

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


BW LPG Business Description

Industry EnergyOil & Gas
Address c/o BW LPG Holding Pte Ltd, 10 Pasir Panjang Road, No. 17-02 Mapletree Business City, Singapore, SGP, 117438
BW LPG Ltd is an owner and operator of very large gas carriers. It operates in two segments: the Shipping segment, which includes LPG shipping and the Product Services segment, which includes the core shipping business. The Product Services segment derives the majority of the revenue.
80GF Score

Get the complete analysis for FRA:1PE

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

€22.44
Price
€12.95
GF Value