Mandom (FRA:MD9) Cyclically Adjusted PB Ratio: 1.89 (As of Jul. 30, 2026) — 34% Above Median

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FRA:MD9 Mandom Corp FRA:MD9
44 GF Score
Price €16.50
GF Value €7.99
! 6 Warning Signs
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What is Mandom Cyclically Adjusted PB Ratio?

Mandom FRA:MD9 44 Cyclically Adjusted PB Ratio is 1.89 as of Jul. 30, 2026, which is 34% above its 10-year median of 1.41. GuruFocus rates FRA:MD9 with a GF Score™ of 44/100 and a GF Value™ of €7.99. The stock has 6 warning signs investors should review. Among 1,432 Consumer Packaged Goods companies, Mandom ranks worse than 65.15% on this metric.

As of today (2026-07-30), Mandom's current share price is €16.50. Mandom's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 was €8.71. Mandom's Cyclically Adjusted PB Ratio for today is 1.89.

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

FRA:MD9' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.78   Med: 1.41   Max: 3.6
Current: 1.91

During the past years, Mandom's highest Cyclically Adjusted PB Ratio was 3.60. The lowest was 0.78. And the median was 1.41.

FRA:MD9's Cyclically Adjusted PB Ratio is ranked worse than
65.15% of 1432 companies
in the Consumer Packaged Goods industry
Industry Median: 1.25 vs FRA:MD9: 1.91

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.

Mandom's adjusted book value per share data for the three months ended in Dec. 2025 was €8.590. 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 €8.71 for the trailing ten years ended in Dec. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Mandom  (FRA:MD9) 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.


Mandom Cyclically Adjusted PB Ratio Related Terms


Mandom Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Mandom'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.

Mandom Cyclically Adjusted PB Ratio Chart

Mandom Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.62 0.98 1.03 0.90 0.84

Mandom Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 0.82 0.84 0.89 1.40 1.69

FRA:MD9 vs PG, CL, KVUE: Cyclically Adjusted PB Ratio Comparison

For the Household & Personal Products subindustry, Mandom'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.


Mandom Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

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

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


FRA:MD9
44GF Score
Mandom Corp FRA:MD9
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mandom 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.

Mandom's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=16.50/8.71
=1.89

* 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.

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

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

Adj_Book=Book Value per Share/CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=8.59/113.0000*113.0000
=8.590

Current CPI (Dec. 2025) = 113.0000.

Mandom Quarterly Data

Book Value per Share CPI Adj_Book
201603 10.154 97.900 11.720
201606 10.906 98.100 12.562
201609 11.337 98.000 13.072
201612 10.718 98.400 12.308
201703 11.203 98.100 12.905
201706 11.172 98.500 12.817
201709 10.890 98.800 12.455
201712 11.003 99.400 12.508
201803 11.354 99.200 12.933
201806 11.700 99.200 13.328
201809 11.851 99.900 13.405
201812 11.724 99.700 13.288
201903 11.914 99.700 13.503
201906 12.209 99.800 13.824
201909 12.538 100.100 14.154
201912 12.181 100.500 13.696
202003 12.569 100.300 14.160
202006 11.829 99.900 13.380
202009 11.766 99.900 13.309
202012 11.498 99.300 13.084
202103 11.061 99.900 12.511
202106 10.779 99.500 12.241
202109 11.027 100.100 12.448
202112 10.892 100.100 12.296
202203 10.779 101.100 12.048
202206 10.162 101.800 11.280
202209 10.534 103.100 11.546
202212 10.488 104.100 11.385
202303 10.120 104.400 10.954
202306 9.641 105.200 10.356
202309 9.644 106.200 10.262
202312 9.658 106.800 10.219
202403 9.083 107.200 9.574
202406 0.000 108.200 0.000
202409 9.818 108.900 10.188
202412 9.435 110.700 9.631
202503 9.608 111.100 9.772
202506 9.121 111.700 9.227
202509 8.891 112.000 8.970
202512 8.590 113.000 8.590

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 1.89 mean?
Mandom (FRA:MD9) has a Cyclically Adjusted PB Ratio of 1.89 as of Jul. 30, 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 Mandom and its competitors. This is 34% above median its historical median of 1.41. Over the past decade, Mandom's Cyclically Adjusted PB Ratio has ranged from 0.78 to 3.60. According to the industry distribution chart, Mandom ranks #933 out of 1432 companies in the Consumer Packaged Goods industry, placing it in the top 65.2%.
Is Mandom's Cyclically Adjusted PB Ratio too high?
Mandom's current Cyclically Adjusted PB Ratio of 1.89 is 34% above median its 10-year median of 1.41. Over the past 10 years, this metric has ranged from a low of 0.78 to a high of 3.60. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.25. Mandom's value of 1.89 is 51.2% above this industry median. Based on the distribution chart, Mandom ranks #933 out of 1432 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Mandom has a GF Score™ of 44/100, reflecting its overall financial health beyond just this single metric.
How does Mandom's Cyclically Adjusted PB Ratio compare to PG and CL?
According to the Consumer Packaged Goods industry distribution chart, Mandom ranks #933 out of 1432 companies for Cyclically Adjusted PB Ratio. This places Mandom in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.25. Mandom's value of 1.89 is 51.2% above this benchmark. Historically, Mandom's own Cyclically Adjusted PB Ratio has ranged from 0.78 to 3.60 over the past decade. While the company's 10-year median is 1.41 vs. the industry median of 1.25, Mandom 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 1.25, based on 1,432 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. Mandom's current Cyclically Adjusted PB Ratio of 1.89 is 51.2% 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 Mandom and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mandom's current Cyclically Adjusted PB Ratio is 1.89, which is 34% above median its own 10-year median of 1.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mandom stock overvalued right now?
Mandom (FRA:MD9) has a current Cyclically Adjusted PB Ratio of 1.89. The stock's GF Value™ is €7.99, compared to a current price of €16.50 — trading 106.5% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.89, which is 34% above median its 10-year median of 1.41 and 51.2% above the Consumer Packaged Goods industry median of 1.25. Mandom's overall GF Score™ is 44/100 with 6 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 Mandom (FRA:MD9), the current Cyclically Adjusted PB Ratio is 1.89 as of Jul. 30, 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 Mandom (FRA:MD9) Overvalued in 2026?

Based on GuruFocus' analysis, Mandom stock appears to be overvalued. The current stock price of €16.50 is trading 106.5% above its estimated GF Value™ of €7.99.

Key valuation signals for FRA:MD9:

  • Cyclically Adjusted PB Ratio: 1.89 (34% above median its 10-year median of 1.41)
  • GF Value™: €7.99 vs. price of €16.50 (106.5% above fair value)
  • GF Score™: 44/100 with 6 warning signs
  • Industry Position: 51.2% above the Consumer Packaged Goods median (#933 of 1432)

No single metric tells the full story. See the FRA:MD9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Mandom Business Description

Address 5-12 Juniken-cho Chuo-ku, Osaka, JPN, 540-8530
Mandom Corp is a Japan-based company that is principally engaged in producing, marketing, and selling cosmetic products. The company's products are categorized into hair styling, face and body care, skin care, and makeup. Its brands consist of Gatsby, Lucido-L, Lucido, Bifesta, and Pixy. The company focuses on three businesses: men's grooming, offering men's daily grooming products and general fashion items; women's cosmetics, providing women's beauty products; and women's cosmetries, offering women's grooming and fashion products. These three businesses jointly account for the majority of the company's sales. The company focuses its business in Asia, with over half of sales generated in Japan and the rest mainly from other regions across Asia, especially Indonesia.
44GF Score

Get the complete analysis for FRA:MD9

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

€16.50
Price
€7.99
GF Value