The Marzetti Co (FRA:LC1) Cyclically Adjusted PB Ratio: 3.15 (As of Jul. 25, 2026) — 52% Below Median

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.
Reviewed by: Charlie Tian Charlie Tian
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:LC1 The Marzetti Co FRA:LC1
69 GF Score
Price €93.50
GF Value €159.85
! 3 Warning Signs
View Full Analysis

What is The Marzetti Co Cyclically Adjusted PB Ratio?

The Marzetti Co FRA:LC1 +0.54% 69 Cyclically Adjusted PB Ratio is 3.15 as of Jul. 25, 2026, which is 52% below its 10-year median of 6.52. GuruFocus rates FRA:LC1 with a GF Score™ of 69/100 and a GF Value™ of €159.85. The stock has 3 warning signs investors should review. Among 1,439 Consumer Packaged Goods companies, The Marzetti Co ranks worse than 80.19% on this metric.

As of today (2026-07-25), The Marzetti Co's current share price is €93.50. The Marzetti Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was €29.67. The Marzetti Co's Cyclically Adjusted PB Ratio for today is 3.15.

The historical rank and industry rank for The Marzetti Co's Cyclically Adjusted PB Ratio or its related term are showing as below:

FRA:LC1' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 3.13   Med: 6.52   Max: 8.96
Current: 3.13

During the past years, The Marzetti Co's highest Cyclically Adjusted PB Ratio was 8.96. The lowest was 3.13. And the median was 6.52.

FRA:LC1's Cyclically Adjusted PB Ratio is ranked worse than
80.19% of 1439 companies
in the Consumer Packaged Goods industry
Industry Median: 1.27 vs FRA:LC1: 3.13

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.

The Marzetti Co's adjusted book value per share data for the three months ended in Mar. 2026 was €32.957. 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 €29.67 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


The Marzetti Co  (FRA:LC1) 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.


The Marzetti Co Cyclically Adjusted PB Ratio Related Terms


The Marzetti Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for The Marzetti 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.

The Marzetti Co Cyclically Adjusted PB Ratio Chart

The Marzetti Co Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.78 4.64 6.86 6.11 5.30

The Marzetti Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 5.45 5.30 5.24 4.95 4.04

FRA:LC1 vs FRPT, CENT, POST: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, The Marzetti 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.


The Marzetti Co Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, The Marzetti Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:LC1
69GF Score
The Marzetti Co FRA:LC1
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

The Marzetti 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.

The Marzetti Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=93.50/29.67
=3.15

* 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.

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

For example, The Marzetti Co's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=32.957/330.2130*330.2130
=32.957

Current CPI (Mar. 2026) = 330.2130.

The Marzetti Co Quarterly Data

Book Value per Share CPI Adj_Book
201606 16.668 241.018 22.836
201609 17.366 241.428 23.752
201612 19.336 241.432 26.446
201703 19.052 243.801 25.805
201706 18.676 244.955 25.176
201709 18.055 246.819 24.155
201712 19.116 246.524 25.605
201803 18.679 249.554 24.716
201806 20.313 251.989 26.619
201809 21.013 252.439 27.487
201812 22.523 251.233 29.604
201903 23.006 254.202 29.885
201906 23.400 256.143 30.167
201909 24.766 256.759 31.851
201912 25.280 256.974 32.485
202003 25.433 258.115 32.537
202006 25.271 257.797 32.370
202009 24.696 260.280 31.331
202012 24.659 260.474 31.261
202103 25.345 264.877 31.597
202106 25.419 271.696 30.894
202109 26.246 274.310 31.595
202112 27.803 278.802 32.930
202203 27.666 287.504 31.776
202206 29.036 296.311 32.358
202209 31.599 296.808 35.155
202212 30.115 296.797 33.506
202303 29.632 301.836 32.418
202306 28.911 305.109 31.290
202309 29.924 307.789 32.104
202312 30.265 306.746 32.580
202403 30.509 312.332 32.256
202406 31.244 314.175 32.839
202409 30.889 315.301 32.350
202412 33.939 315.605 35.510
202503 33.426 319.799 34.514
202506 31.441 322.561 32.187
202509 31.508 324.800 32.033
202512 32.164 324.054 32.775
202603 32.957 330.213 32.957

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 3.15 mean?
The Marzetti Co (FRA:LC1) has a Cyclically Adjusted PB Ratio of 3.15 as of Jul. 25, 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 The Marzetti Co and its competitors. This is 52% below median its historical median of 6.52. Over the past decade, The Marzetti Co's Cyclically Adjusted PB Ratio has ranged from 3.13 to 8.96. According to the industry distribution chart, The Marzetti Co ranks #1154 out of 1439 companies in the Consumer Packaged Goods industry, placing it in the top 80.2%.
Is The Marzetti Co's Cyclically Adjusted PB Ratio too high?
The Marzetti Co's current Cyclically Adjusted PB Ratio of 3.15 is 52% below median its 10-year median of 6.52. Over the past 10 years, this metric has ranged from a low of 3.13 to a high of 8.96. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.27. The Marzetti Co's value of 3.15 is 148% above this industry median. Based on the distribution chart, The Marzetti Co ranks #1154 out of 1439 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, The Marzetti Co has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does The Marzetti Co's Cyclically Adjusted PB Ratio compare to FRPT and CENT?
According to the Consumer Packaged Goods industry distribution chart, The Marzetti Co ranks #1154 out of 1439 companies for Cyclically Adjusted PB Ratio. This places The Marzetti Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.27. The Marzetti Co's value of 3.15 is 148% above this benchmark. Historically, The Marzetti Co's own Cyclically Adjusted PB Ratio has ranged from 3.13 to 8.96 over the past decade. While the company's 10-year median is 6.52 vs. the industry median of 1.27, The Marzetti Co 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 Consumer Packaged Goods company?
The median Cyclically Adjusted PB Ratio among Consumer Packaged Goods companies is 1.27, based on 1,439 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. The Marzetti Co's current Cyclically Adjusted PB Ratio of 3.15 is 148% 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 The Marzetti Co and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The Marzetti Co's current Cyclically Adjusted PB Ratio is 3.15, which is 52% below median its own 10-year median of 6.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Marzetti Co stock overvalued right now?
The Marzetti Co (FRA:LC1) has a current Cyclically Adjusted PB Ratio of 3.15. The stock's GF Value™ is €159.85, compared to a current price of €93.50 — trading 41.5% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.15, which is 52% below median its 10-year median of 6.52 and 148% above the Consumer Packaged Goods industry median of 1.27. The Marzetti Co's overall GF Score™ is 69/100 with 3 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 The Marzetti Co (FRA:LC1), the current Cyclically Adjusted PB Ratio is 3.15 as of Jul. 25, 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 The Marzetti Co (FRA:LC1) Overvalued in 2026?

Based on GuruFocus' analysis, The Marzetti Co stock appears to be undervalued. The current stock price of €93.50 is trading 41.5% below its estimated GF Value™ of €159.85.

Key valuation signals for FRA:LC1:

  • Cyclically Adjusted PB Ratio: 3.15 (52% below median its 10-year median of 6.52)
  • GF Value™: €159.85 vs. price of €93.50 (41.5% below fair value)
  • GF Score™: 69/100 with 3 warning signs
  • Industry Position: 148% above the Consumer Packaged Goods median (#1154 of 1439)

No single metric tells the full story. See the FRA:LC1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


The Marzetti Co Business Description

Other Exchanges MZTI:USA
Address 380 Polaris Parkway, Suite 400, Westerville, OH, USA, 43082
The Marzetti Co manufactures and sells specialty food products. Its retail brands include Marzetti, New York Bakery and Sister Schubert's, in addition to exclusive license agreements for Olive Garden dressings, Chick-fil-A sauces and dressings, Buffalo Wild Wings sauces, Arby's sauces, Subway sauces, and Texas Roadhouse steak sauces and frozen rolls. Its foodservice business supplies many of the top restaurant chains in the United States with dressings, sauces, breads and frozen pastas. The company has two reportable segments: Retail and Foodservice, of which it derives maximum revenue from Retail segment.
69GF Score

Get the complete analysis for FRA:LC1

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

€93.50
Price
€159.85
GF Value