Pihlajalinna Oyj (FRA:38P) Cyclically Adjusted PB Ratio: 1.52 (As of Jul. 26, 2026) — 13% 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:38P Pihlajalinna Oyj FRA:38P
71 GF Score
Price €9.74
GF Value €8.61
Valuation Modestly Overvalued
! 3 Warning Signs
View Full Analysis

What is Pihlajalinna Oyj Cyclically Adjusted PB Ratio?

Pihlajalinna Oyj FRA:38P +0.21% 71 Cyclically Adjusted PB Ratio is 1.52 as of Jul. 26, 2026, which is 13% below its 10-year median of 1.75. GuruFocus rates FRA:38P with a GF Score™ of 71/100 and a GF Value™ of €8.61 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 356 Healthcare Providers & Services companies, Pihlajalinna Oyj ranks better than 58.71% on this metric.

As of today (2026-07-26), Pihlajalinna Oyj's current share price is €9.74. Pihlajalinna Oyj's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was €6.41. Pihlajalinna Oyj's Cyclically Adjusted PB Ratio for today is 1.52.

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

FRA:38P' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.25   Med: 1.75   Max: 2.73
Current: 1.57

During the past years, Pihlajalinna Oyj's highest Cyclically Adjusted PB Ratio was 2.73. The lowest was 1.25. And the median was 1.75.

FRA:38P's Cyclically Adjusted PB Ratio is ranked better than
58.71% of 356 companies
in the Healthcare Providers & Services industry
Industry Median: 1.83 vs FRA:38P: 1.57

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.

Pihlajalinna Oyj's adjusted book value per share data for the three months ended in Jun. 2026 was €7.359. 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 €6.41 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Pihlajalinna Oyj  (FRA:38P) 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.


Pihlajalinna Oyj Cyclically Adjusted PB Ratio Related Terms


Pihlajalinna Oyj Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Pihlajalinna Oyj'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.

Pihlajalinna Oyj Cyclically Adjusted PB Ratio Chart

Pihlajalinna Oyj 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 1.27 1.79 2.31

Pihlajalinna Oyj 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 2.55 2.55 2.31 1.99 1.60

FRA:38P vs HCA, THC, DVA: Cyclically Adjusted PB Ratio Comparison

For the Medical Care Facilities subindustry, Pihlajalinna Oyj'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.


Pihlajalinna Oyj Cyclically Adjusted PB Ratio vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Pihlajalinna Oyj's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:38P
71GF Score
Pihlajalinna Oyj FRA:38P
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pihlajalinna Oyj 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.

Pihlajalinna Oyj's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=9.74/6.41
=1.52

* 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.

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

For example, Pihlajalinna Oyj'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)
=7.359/125.3800*125.3800
=7.359

Current CPI (Jun. 2026) = 125.3800.

Pihlajalinna Oyj Quarterly Data

Book Value per Share CPI Adj_Book
201609 4.745 100.540 5.917
201612 4.743 101.020 5.887
201703 4.895 100.910 6.082
201706 4.842 101.140 6.002
201709 4.793 101.320 5.931
201712 4.866 101.510 6.010
201803 5.641 101.730 6.952
201806 5.164 102.320 6.328
201809 5.270 102.600 6.440
201812 5.356 102.710 6.538
201903 5.380 102.870 6.557
201906 5.256 103.360 6.376
201909 5.186 103.540 6.280
201912 4.470 103.650 5.407
202003 4.536 103.490 5.495
202006 4.501 103.320 5.462
202009 4.700 103.710 5.682
202012 4.818 103.890 5.815
202103 5.026 104.870 6.009
202106 5.037 105.360 5.994
202109 5.125 106.290 6.045
202112 5.271 107.490 6.148
202203 5.498 110.950 6.213
202206 5.277 113.570 5.826
202209 5.512 114.920 6.014
202212 5.498 117.320 5.876
202303 6.581 119.750 6.890
202306 6.684 120.690 6.944
202309 6.839 121.280 7.070
202312 6.560 121.540 6.767
202403 6.783 122.360 6.950
202406 6.944 122.230 7.123
202409 7.198 122.260 7.382
202412 7.595 122.390 7.781
202503 7.919 123.010 8.072
202506 7.897 122.530 8.081
202509 8.225 122.880 8.392
202512 8.479 122.670 8.666
202603 7.362 124.670 7.404
202606 7.359 125.380 7.359

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 1.52 mean?
Pihlajalinna Oyj (FRA:38P) has a Cyclically Adjusted PB Ratio of 1.52 as of Jul. 26, 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 Pihlajalinna Oyj and its competitors. This is 13% below median its historical median of 1.75. Over the past decade, Pihlajalinna Oyj's Cyclically Adjusted PB Ratio has ranged from 1.25 to 2.73. According to the industry distribution chart, Pihlajalinna Oyj ranks #147 out of 356 companies in the Healthcare Providers & Services industry, placing it in the top 41.3%.
Is Pihlajalinna Oyj's Cyclically Adjusted PB Ratio too high?
Pihlajalinna Oyj's current Cyclically Adjusted PB Ratio of 1.52 is 13% below median its 10-year median of 1.75. Over the past 10 years, this metric has ranged from a low of 1.25 to a high of 2.73. The Healthcare Providers & Services industry median Cyclically Adjusted PB Ratio is 1.83. Pihlajalinna Oyj's value of 1.52 is 16.9% below this industry median. Based on the distribution chart, Pihlajalinna Oyj ranks #147 out of 356 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, Pihlajalinna Oyj has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pihlajalinna Oyj's Cyclically Adjusted PB Ratio compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, Pihlajalinna Oyj ranks #147 out of 356 companies for Cyclically Adjusted PB Ratio. This puts Pihlajalinna Oyj in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.83. Pihlajalinna Oyj's value of 1.52 is 16.9% below this benchmark. Historically, Pihlajalinna Oyj's own Cyclically Adjusted PB Ratio has ranged from 1.25 to 2.73 over the past decade. While the company's 10-year median is 1.75 vs. the industry median of 1.83, Pihlajalinna Oyj has consistently been below 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 Healthcare Providers & Services company?
The median Cyclically Adjusted PB Ratio among Healthcare Providers & Services companies is 1.83, based on 356 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. Pihlajalinna Oyj's current Cyclically Adjusted PB Ratio of 1.52 is 16.9% below 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 Pihlajalinna Oyj and its competitors. For the Healthcare Providers & Services industry, the median Cyclically Adjusted PB Ratio is 1.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pihlajalinna Oyj's current Cyclically Adjusted PB Ratio is 1.52, which is 13% below median its own 10-year median of 1.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pihlajalinna Oyj stock overvalued right now?
Based on GuruFocus' analysis, Pihlajalinna Oyj (FRA:38P) is currently considered Modestly Overvalued. The stock's GF Value™ is €8.61, compared to a current price of €9.74 — trading 13.1% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.52, which is 13% below median its 10-year median of 1.75 and 16.9% below the Healthcare Providers & Services industry median of 1.83. Pihlajalinna Oyj's overall GF Score™ is 71/100 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 Pihlajalinna Oyj (FRA:38P), the current Cyclically Adjusted PB Ratio is 1.52 as of Jul. 26, 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 Pihlajalinna Oyj (FRA:38P) Overvalued in 2026?

Based on GuruFocus' analysis, Pihlajalinna Oyj stock appears to be overvalued. The current stock price of €9.74 is trading 13.1% above its estimated GF Value™ of €8.61. GuruFocus considers Pihlajalinna Oyj to be Modestly Overvalued.

Key valuation signals for FRA:38P:

  • Cyclically Adjusted PB Ratio: 1.52 (13% below median its 10-year median of 1.75)
  • GF Value™: €8.61 vs. price of €9.74 (13.1% above fair value)
  • GF Score™: 71/100 with 3 warning signs
  • Industry Position: 16.9% below the Healthcare Providers & Services median (#147 of 356)

No single metric tells the full story. See the FRA:38P stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pihlajalinna Oyj Business Description

Address Kehrasaari B, Tampere, FIN, FI-33200
Pihlajalinna Oyj is a private social and healthcare service providers in Finland. It provides comprehensive, high-quality services through private clinics, hospitals, remote channels, occupational healthcare, and tailored social and healthcare solutions for the public sector. It has two reportable segments: Private Healthcare Services and Public Services. The Private Healthcare Services operating segment consists of private clinic, diagnostics, hospital, occupational healthcare, remote and fitness center services. The Public Services operating segment consists of social and healthcare services produced for the public sector, which include outsourcing and housing services, mainly remotely produced responsible doctor services, as well as a wide range of staffing and recruitment services.
71GF Score

Get the complete analysis for FRA:38P

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

€9.74
Price
€8.61
GF Value