Heidrick & Struggles International (FRA:HSI) Cyclically Adjusted PB Ratio: 3.01 (As of Jul. 27, 2026) — 62% Above Median

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FRA:HSI Heidrick & Struggles International Inc FRA:HSI
65 GF Score
Price €50.50
GF Value €32.17
! 8 Warning Signs
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What is Heidrick & Struggles International Cyclically Adjusted PB Ratio?

Heidrick & Struggles International FRA:HSI 65 Cyclically Adjusted PB Ratio is 3.01 as of Jul. 27, 2026, which is 62% above its 10-year median of 1.86. GuruFocus rates FRA:HSI with a GF Score™ of 65/100 and a GF Value™ of €32.17. The stock has 8 warning signs investors should review.

As of today (2026-07-27), Heidrick & Struggles International's current share price is €50.50. Heidrick & Struggles International's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2025 was €16.79. Heidrick & Struggles International's Cyclically Adjusted PB Ratio for today is 3.01.

The historical rank and industry rank for Heidrick & Struggles International's Cyclically Adjusted PB Ratio or its related term are showing as below:

FRA:HSI' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.06   Med: 1.86   Max: 3.15
Current: 2.95

During the past years, Heidrick & Struggles International's highest Cyclically Adjusted PB Ratio was 3.15. The lowest was 1.06. And the median was 1.86.

FRA:HSI's Cyclically Adjusted PB Ratio is not ranked
in the Business Services industry.
Industry Median: 1.56 vs FRA:HSI: 2.95

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.

Heidrick & Struggles International's adjusted book value per share data for the three months ended in Sep. 2025 was €20.867. 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 €16.79 for the trailing ten years ended in Sep. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Heidrick & Struggles International  (FRA:HSI) 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.


Heidrick & Struggles International Cyclically Adjusted PB Ratio Related Terms


Heidrick & Struggles International Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Heidrick & Struggles International'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.

Heidrick & Struggles International Cyclically Adjusted PB Ratio Chart

Heidrick & Struggles International 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 1.94 2.75 1.64 1.64 2.33

Heidrick & Struggles International 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 2.05 2.33 2.21 2.32 2.49

FRA:HSI vs MAN, NSP, BBSI: Cyclically Adjusted PB Ratio Comparison

For the Staffing & Employment Services subindustry, Heidrick & Struggles International'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.


Heidrick & Struggles International Cyclically Adjusted PB Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, Heidrick & Struggles International's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Heidrick & Struggles International's Cyclically Adjusted PB Ratio falls into.


FRA:HSI
65GF Score
Heidrick & Struggles International Inc FRA:HSI
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Heidrick & Struggles International 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.

Heidrick & Struggles International's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=50.50/16.79
=3.01

* 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.

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

For example, Heidrick & Struggles International'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)
=20.867/324.8000*324.8000
=20.867

Current CPI (Sep. 2025) = 324.8000.

Heidrick & Struggles International Quarterly Data

Book Value per Share CPI Adj_Book
201512 12.727 236.525 17.477
201603 12.341 238.132 16.832
201606 12.474 241.018 16.810
201609 12.746 241.428 17.148
201612 13.195 241.432 17.751
201703 12.904 243.801 17.191
201706 11.540 244.955 15.302
201709 11.212 246.819 14.754
201712 9.570 246.524 12.609
201803 9.880 249.554 12.859
201806 10.742 251.989 13.846
201809 11.477 252.439 14.767
201812 12.389 251.233 16.017
201903 12.660 254.202 16.176
201906 13.346 256.143 16.923
201909 14.082 256.759 17.814
201912 14.515 256.974 18.346
202003 14.638 258.115 18.420
202006 13.142 257.797 16.558
202009 11.449 260.280 14.287
202012 11.362 260.474 14.168
202103 12.002 264.877 14.717
202106 12.731 271.696 15.219
202109 14.024 274.310 16.605
202112 15.179 278.802 17.683
202203 16.153 287.504 18.248
202206 17.661 296.311 19.359
202209 19.555 296.808 21.399
202212 19.518 296.797 21.360
202303 19.638 301.836 21.132
202306 19.905 305.109 21.190
202309 20.449 307.789 21.579
202312 21.066 306.746 22.306
202403 21.300 312.332 22.150
202406 21.076 314.175 21.789
202409 21.336 315.301 21.979
202412 21.188 315.605 21.805
202503 20.861 319.799 21.187
202506 20.603 322.561 20.746
202509 20.867 324.800 20.867

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 3.01 mean?
Heidrick & Struggles International (FRA:HSI) has a Cyclically Adjusted PB Ratio of 3.01 as of Jul. 27, 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 Heidrick & Struggles International and its competitors. This is 62% above median its historical median of 1.86. Over the past decade, Heidrick & Struggles International's Cyclically Adjusted PB Ratio has ranged from 1.06 to 3.15.
Is Heidrick & Struggles International's Cyclically Adjusted PB Ratio too high?
Heidrick & Struggles International's current Cyclically Adjusted PB Ratio of 3.01 is 62% above median its 10-year median of 1.86. Over the past 10 years, this metric has ranged from a low of 1.06 to a high of 3.15. The Business Services industry median Cyclically Adjusted PB Ratio is 1.56. Heidrick & Struggles International's value of 3.01 is 92.9% above this industry median. Overall, Heidrick & Struggles International has a GF Score™ of 65/100, reflecting its overall financial health beyond just this single metric.
How does Heidrick & Struggles International's Cyclically Adjusted PB Ratio compare to MAN and NSP?
Heidrick & Struggles International's Cyclically Adjusted PB Ratio of 3.01 can be compared against companies in the Business Services industry. The industry median Cyclically Adjusted PB Ratio is 1.56. Heidrick & Struggles International's value of 3.01 is 92.9% above this benchmark. Historically, Heidrick & Struggles International's own Cyclically Adjusted PB Ratio has ranged from 1.06 to 3.15 over the past decade. While the company's 10-year median is 1.86 vs. the industry median of 1.56, Heidrick & Struggles International has consistently been above 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 Business Services company?
The median Cyclically Adjusted PB Ratio among Business Services companies is 1.56, based on 729 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. Heidrick & Struggles International's current Cyclically Adjusted PB Ratio of 3.01 is 92.9% above 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 Heidrick & Struggles International and its competitors. For the Business Services industry, the median Cyclically Adjusted PB Ratio is 1.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heidrick & Struggles International's current Cyclically Adjusted PB Ratio is 3.01, which is 62% above median its own 10-year median of 1.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heidrick & Struggles International stock overvalued right now?
Heidrick & Struggles International (FRA:HSI) has a current Cyclically Adjusted PB Ratio of 3.01. The stock's GF Value™ is €32.17, compared to a current price of €50.50 — trading 57% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.01, which is 62% above median its 10-year median of 1.86 and 92.9% above the Business Services industry median of 1.56. Heidrick & Struggles International's overall GF Score™ is 65/100 with 8 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 Heidrick & Struggles International (FRA:HSI), the current Cyclically Adjusted PB Ratio is 3.01 as of Jul. 27, 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 Heidrick & Struggles International (FRA:HSI) Overvalued in 2026?

Based on GuruFocus' analysis, Heidrick & Struggles International stock appears to be overvalued. The current stock price of €50.50 is trading 57% above its estimated GF Value™ of €32.17.

Key valuation signals for FRA:HSI:

  • Cyclically Adjusted PB Ratio: 3.01 (62% above median its 10-year median of 1.86)
  • GF Value™: €32.17 vs. price of €50.50 (57% above fair value)
  • GF Score™: 65/100 with 8 warning signs
  • Industry Position: 92.9% above the Business Services median

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


Heidrick & Struggles International Business Description

Address 233 South Wacker Drive, Suite 4900, Chicago, IL, USA, 60606-6303
Heidrick & Struggles International Inc is a leadership advisory firm providing executive search and consulting services to businesses and business leaders world wide. The company's operating segments include the executive search business which operates in the Americas; Europe; Asia Pacific and On-Demand Talent and Heidrick Consulting. It generates maximum revenue from the Americas.
65GF Score

Get the complete analysis for FRA:HSI

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

€50.50
Price
€32.17
GF Value