Stepan Co (FRA:96S) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
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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:96S Stepan Co FRA:96S
80 GF Score
Price €54.50
GF Value €60.30
! 8 Warning Signs
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What is Stepan Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Stepan Co  (FRA:96S) 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.


Stepan Co Cyclically Adjusted PB Ratio Related Terms


Stepan Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Stepan Co'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.

Stepan Co Cyclically Adjusted PB Ratio Chart

Stepan Co 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 3.54 2.81 2.16 1.46 0.88

Stepan Co 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 1.13 0.95 0.93 1.00 1.07

FRA:96S vs ODC, ECVT, KRO: Cyclically Adjusted PB Ratio Comparison

For the Specialty Chemicals subindustry, Stepan Co'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.


Stepan Co Cyclically Adjusted PB Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Stepan Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:96S
80GF Score
Stepan Co FRA:96S
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Stepan Co 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.

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

For example, Stepan Co'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)
=46.635/333.9520*333.9520
=46.635

Current CPI (Jun. 2026) = 333.9520.

Stepan Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 25.410 241.428 35.148
201612 26.886 241.432 37.189
201703 28.070 243.801 38.450
201706 27.573 244.955 37.591
201709 27.654 246.819 37.417
201712 27.412 246.524 37.133
201803 27.842 249.554 37.258
201806 28.979 251.989 38.405
201809 29.769 252.439 39.381
201812 31.414 251.233 41.757
201903 32.775 254.202 43.057
201906 33.418 256.143 43.569
201909 34.844 256.759 45.320
201912 35.316 256.974 45.895
202003 35.191 258.115 45.530
202006 35.696 257.797 46.241
202009 30.094 260.280 38.612
202012 35.945 260.474 46.085
202103 31.962 264.877 40.297
202106 33.113 271.696 40.700
202109 34.156 274.310 41.582
202112 42.132 278.802 50.466
202203 37.432 287.504 43.479
202206 40.141 296.311 45.240
202209 43.002 296.808 48.383
202212 49.138 296.797 55.289
202303 40.627 301.836 44.950
202306 41.283 305.109 45.186
202309 42.092 307.789 45.670
202312 49.212 306.746 53.577
202403 50.039 312.332 53.503
202406 49.472 314.175 52.586
202409 48.571 315.301 51.444
202412 50.213 315.605 53.132
202503 49.227 319.799 51.406
202506 46.772 322.561 48.424
202509 46.911 324.800 48.233
202512 46.818 324.054 48.248
202603 45.591 330.213 46.107
202606 46.635 333.952 46.635

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 Stepan Co (FRA:96S) Overvalued in 2026?

Based on GuruFocus' analysis, Stepan Co stock appears to be undervalued. The current stock price of €54.50 is trading 9.6% below its estimated GF Value™ of €60.30.

Key valuation signals for FRA:96S:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €60.30 vs. price of €54.50 (9.6% below fair value)
  • GF Score™: 80/100 with 8 warning signs

No single metric tells the full story. See the FRA:96S stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Stepan Co Business Description

Other Exchanges SCL:USA
Address 1101 Skokie Boulevard, Suite 500, Northbrook, IL, USA, 60062
Stepan Co manufactures and sells a variety of chemicals and chemical-based products. The company organizes itself into three segments based on product type. The surfactants segment, which generates the majority of revenue, sells cleaning agents used in detergents, shampoos, body wash, fabric softeners, toothpastes, and other personal-care products. The polymers segment sells polyurethane used to manufacture rigid foam for thermal insulation, as well as phthalic anhydride used to make plastic components for the construction, automotive, and boating industries. The specialty products segment sells chemicals used in food and flavoring. The majority of Stepan's revenue comes from the United States, followed by France, Poland, the United Kingdom, Brazil, Mexico, and other countries.
80GF Score

Get the complete analysis for FRA:96S

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

€54.50
Price
€60.30
GF Value