Denny's (FRA:DE8) Cyclically Adjusted PB Ratio: (As of Aug. 29, 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.
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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:DE8 Denny's Corp FRA:DE8
58 GF Score
Price €5.30
GF Value €7.23
! 8 Warning Signs
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What is Denny's Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Denny's  (FRA:DE8) 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.


Denny's Cyclically Adjusted PB Ratio Related Terms


Denny's Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Denny's'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.

Denny's Cyclically Adjusted PB Ratio Chart

Denny's Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Denny's Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25
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 0.00 0.00 0.00 0.00 0.00

FRA:DE8 vs LOCO, BRCB, VENU: Cyclically Adjusted PB Ratio Comparison

For the Restaurants subindustry, Denny's'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.


Denny's Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Denny's's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:DE8
58GF Score
Denny's Corp FRA:DE8
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Denny's 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.

Denny's's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2025 is calculated as:

For example, Denny's's adjusted Book Value per Share data for the three months ended in Sep. 2025 was:

Adj_Book=Book Value per Share/CPI of Sep. 2025 (Change)*Current CPI (Sep. 2025)
=-0.541/324.8000*324.8000
=-0.541

Current CPI (Sep. 2025) = 324.8000.

Denny's Quarterly Data

Book Value per Share CPI Adj_Book
201512 -0.724 236.525 -0.994
201603 -0.671 238.132 -0.915
201606 -0.612 241.018 -0.825
201609 -0.647 241.428 -0.870
201612 -0.945 241.432 -1.271
201703 -0.861 243.801 -1.147
201706 -1.043 244.955 -1.383
201709 -1.247 246.819 -1.641
201712 -1.274 246.524 -1.679
201803 -1.538 249.554 -2.002
201806 -1.590 251.989 -2.049
201809 -1.498 252.439 -1.927
201812 -1.905 251.233 -2.463
201903 -2.033 254.202 -2.598
201906 -2.110 256.143 -2.676
201909 -1.817 256.759 -2.299
201912 -2.176 256.974 -2.750
202003 -3.259 258.115 -4.101
202006 -3.467 257.797 -4.368
202009 -1.842 260.280 -2.299
202012 -1.676 260.474 -2.090
202103 -1.337 264.877 -1.639
202106 -1.285 271.696 -1.536
202109 -1.194 274.310 -1.414
202112 -0.928 278.802 -1.081
202203 -0.673 287.504 -0.760
202206 -0.952 296.311 -1.044
202209 -0.784 296.808 -0.858
202212 -0.618 296.797 -0.676
202303 -0.745 301.836 -0.802
202306 -0.706 305.109 -0.752
202309 -0.621 307.789 -0.655
202312 -1.100 306.746 -1.165
202403 -0.984 312.332 -1.023
202406 -0.959 314.175 -0.991
202409 -0.956 315.301 -0.985
202412 -0.633 315.605 -0.651
202503 -0.655 319.799 -0.665
202506 -0.582 322.561 -0.586
202509 -0.541 324.800 -0.541

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 Denny's (FRA:DE8) Overvalued in 2026?

Based on GuruFocus' analysis, Denny's stock appears to be undervalued. The current stock price of €5.30 is trading 26.7% below its estimated GF Value™ of €7.23.

Key valuation signals for FRA:DE8:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €7.23 vs. price of €5.30 (26.7% below fair value)
  • GF Score™: 58/100 with 8 warning signs

No single metric tells the full story. See the FRA:DE8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Denny's Business Description

Address 203 East Main Street, Spartanburg, SC, USA, 29319-9966
Denny's Corp is America's franchised full-service restaurant chains based on the number of restaurants. The company owns and operates the Denny's brand and the Keke's Breakfast Cafe brand. It provides Pancakes, Appetizers & Soups, Sandwiches & Salads, Breakfast Melts, Omelets, and others. The company generates its revenue from two sources: the sale of food and beverages and the collection of royalties, advertising revenue, initial and other fees, including occupancy revenue, from restaurants operated by their franchisees. Geographically operates in USA states as well as globally like Canada, Mexico, Guatemala, Indonesia, United Kingdom, New Zealand and others. Maximum revenue is from USA and Canada.
58GF Score

Get the complete analysis for FRA:DE8

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

€5.30
Price
€7.23
GF Value