Hudson Pacific Properties (FRA:HP91) Cyclically Adjusted PB Ratio: (As of Aug. 11, 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:HP91 Hudson Pacific Properties Inc FRA:HP91
58 GF Score
Price €11.60
GF Value €7.82
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Hudson Pacific Properties Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Hudson Pacific Properties  (FRA:HP91) 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.


Hudson Pacific Properties Cyclically Adjusted PB Ratio Related Terms


Hudson Pacific Properties Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Hudson Pacific Properties'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.

Hudson Pacific Properties Cyclically Adjusted PB Ratio Chart

Hudson Pacific Properties 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 1.10 0.41 0.38 0.12 0.06

Hudson Pacific Properties 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 0.11 0.11 0.06 0.03 0.00

FRA:HP91 vs PSTL, BDN, DEA: Cyclically Adjusted PB Ratio Comparison

For the REIT - Office subindustry, Hudson Pacific Properties'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.


Hudson Pacific Properties Cyclically Adjusted PB Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Hudson Pacific Properties's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:HP91
58GF Score
Hudson Pacific Properties Inc FRA:HP91
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hudson Pacific Properties 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.

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

For example, Hudson Pacific Properties'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)
=32.167/333.9520*333.9520
=32.167

Current CPI (Jun. 2026) = 333.9520.

Hudson Pacific Properties Quarterly Data

Book Value per Share CPI Adj_Book
201609 133.279 241.428 184.356
201612 150.875 241.432 208.692
201703 156.200 243.801 213.959
201706 146.732 244.955 200.043
201709 137.912 246.819 186.598
201712 138.284 246.524 187.325
201803 133.501 249.554 178.650
201806 140.278 251.989 185.905
201809 139.800 252.439 184.942
201812 141.241 251.233 187.745
201903 138.665 254.202 182.168
201906 137.287 256.143 178.991
201909 141.638 256.759 184.221
201912 139.152 256.974 180.836
202003 137.758 258.115 178.233
202006 133.905 257.797 173.461
202009 125.849 260.280 161.470
202012 131.615 260.474 168.743
202103 133.384 264.877 168.168
202106 130.982 271.696 160.995
202109 132.296 274.310 161.061
202112 135.967 278.802 162.863
202203 134.732 287.504 156.499
202206 139.353 296.311 157.055
202209 146.483 296.808 164.815
202212 134.922 296.797 151.812
202303 131.249 301.836 145.214
202306 127.978 305.109 140.076
202309 128.161 307.789 139.055
202312 120.747 306.746 131.456
202403 125.840 312.332 134.551
202406 124.557 314.175 132.398
202409 116.219 315.301 123.094
202412 115.003 315.605 121.688
202503 107.949 319.799 112.726
202506 47.083 322.561 48.746
202509 44.374 324.800 45.624
202512 40.114 324.054 41.339
202603 39.743 330.213 40.193
202606 32.167 333.952 32.167

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 Hudson Pacific Properties (FRA:HP91) Overvalued in 2026?

Based on GuruFocus' analysis, Hudson Pacific Properties stock appears to be overvalued. The current stock price of €11.60 is trading 48.3% above its estimated GF Value™ of €7.82. GuruFocus considers Hudson Pacific Properties to be Significantly Overvalued.

Key valuation signals for FRA:HP91:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €7.82 vs. price of €11.60 (48.3% above fair value)
  • GF Score™: 58/100 with 5 warning signs

No single metric tells the full story. See the FRA:HP91 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hudson Pacific Properties Business Description

Industry Real EstateREITs
Other Exchanges HPP:USA
Address 11601 Wilshire Boulevard, Ninth Floor, Los Angeles, CA, USA, 90025
Hudson Pacific Properties Inc is a vertically integrated real estate investment trust offering end-to-end real estate solutions for dynamic tenants in the synergistic, converging and secular growth industries of tech and media. It acquires, repositions, develops and operates sustainable high-quality office studio properties in high-barrier-to-entry tech and media epicenters. Its primary investment markets include Los Angeles, the San Francisco Bay Area, Seattle, New York and Vancouver, British Columbia. Its segments include Office properties and related operations and Studio properties and related operations. The majority of the revenue is derived from Office properties and related operations segment.
58GF Score

Get the complete analysis for FRA:HP91

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

€11.60
Price
€7.82
GF Value