Industrivarden AB (FRA:IDVA) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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:IDVA Industrivarden AB FRA:IDVA
64 GF Score
Price €48.14
GF Value €55.67
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Industrivarden AB Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Industrivarden AB  (FRA:IDVA) 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.


Industrivarden AB Cyclically Adjusted PB Ratio Related Terms


Industrivarden AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Industrivarden AB'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.

Industrivarden AB Cyclically Adjusted PB Ratio Chart

Industrivarden AB 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 1.24 0.88 1.06 1.02 1.21

Industrivarden AB 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 1.06 1.13 1.26 1.36 1.56

FRA:IDVA vs BLK, BX, KKR: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, Industrivarden AB'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.


Industrivarden AB Cyclically Adjusted PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Industrivarden AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:IDVA
64GF Score
Industrivarden AB FRA:IDVA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Industrivarden AB 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.

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

For example, Industrivarden AB'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)
=46.934/134.6100*134.6100
=46.934

Current CPI (Jun. 2026) = 134.6100.

Industrivarden AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 18.170 101.138 24.184
201612 19.825 102.022 26.158
201703 22.371 102.022 29.517
201706 22.431 102.752 29.386
201709 22.724 103.279 29.618
201712 22.408 103.793 29.061
201803 21.726 103.962 28.131
201806 21.147 104.875 27.143
201809 22.800 105.679 29.042
201812 19.303 105.912 24.533
201903 22.155 105.886 28.165
201906 22.618 106.742 28.523
201909 21.572 107.214 27.084
201912 24.607 107.766 30.737
202003 19.867 106.563 25.096
202006 23.409 107.498 29.313
202009 24.542 107.635 30.693
202012 27.663 108.296 34.385
202103 31.228 108.360 38.793
202106 30.596 108.928 37.810
202109 29.066 110.338 35.460
202112 32.175 112.486 38.503
202203 27.524 114.825 32.266
202206 24.515 118.384 27.875
202209 22.845 122.296 25.145
202212 26.272 126.365 27.986
202303 28.360 127.042 30.050
202306 26.804 129.407 27.882
202309 27.035 130.224 27.946
202312 31.172 131.912 31.810
202403 33.362 132.205 33.969
202406 31.754 132.716 32.207
202409 33.229 132.304 33.808
202412 32.212 132.987 32.605
202503 35.621 132.825 36.100
202506 34.194 133.699 34.427
202509 36.163 133.480 36.469
202512 40.849 133.380 41.226
202603 42.916 133.550 43.257
202606 46.934 134.610 46.934

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 Industrivarden AB (FRA:IDVA) Overvalued in 2026?

Based on GuruFocus' analysis, Industrivarden AB stock appears to be undervalued. The current stock price of €48.14 is trading 13.5% below its estimated GF Value™ of €55.67. GuruFocus considers Industrivarden AB to be Modestly Undervalued.

Key valuation signals for FRA:IDVA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €55.67 vs. price of €48.14 (13.5% below fair value)
  • GF Score™: 64/100 with 4 warning signs

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


Industrivarden AB Business Description

Address Storgatan 10, Stockholm, SWE, 114 51
Industrivarden AB is a holding company that invests in and works long-term to develop and create value in its portfolio companies. Active ownership is exercised through sizable ownership stakes in a selection of listed companies with firm market positions, good cash flows, financial strength, and clear development capacity. Its stock offers exposure to a portfolio of companies with validated business models, a wide breadth of underlying business areas, and good value potential.
64GF Score

Get the complete analysis for FRA:IDVA

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

€48.14
Price
€55.67
GF Value