Matrix Service Co (FRA:MX2) Cyclically Adjusted PB Ratio: (As of Sep. 03, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:MX2 Matrix Service Co FRA:MX2
63 GF Score
Price €9.00
GF Value €10.63
! 3 Warning Signs
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What is Matrix Service Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Matrix Service Co  (FRA:MX2) 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.


Matrix Service Co Cyclically Adjusted PB Ratio Related Terms


Matrix Service Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Matrix Service 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.

Matrix Service Co Cyclically Adjusted PB Ratio Chart

Matrix Service Co Annual Data
Trend Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.38 0.45 0.77 1.10 0.00

Matrix Service Co 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 1.10 1.08 0.99 0.98 0.00

FRA:MX2 vs ORN, ESOA, SHIM: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Matrix Service 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.


Matrix Service Co Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Matrix Service Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:MX2
63GF Score
Matrix Service Co FRA:MX2
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Matrix Service 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.

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

For example, Matrix Service Co'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)
=4.317/333.9520*333.9520
=4.317

Current CPI (Jun. 2026) = 333.9520.

Matrix Service Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 10.940 241.428 15.133
201612 11.802 241.432 16.325
201703 11.258 243.801 15.421
201706 10.767 244.955 14.679
201709 10.310 246.819 13.950
201712 10.576 246.524 14.327
201803 10.038 249.554 13.433
201806 10.163 251.989 13.469
201809 10.238 252.439 13.544
201812 10.622 251.233 14.119
201903 11.097 254.202 14.578
201906 11.619 256.143 15.149
201909 11.962 256.759 15.558
201912 10.892 256.974 14.155
202003 10.786 258.115 13.955
202006 10.458 257.797 13.547
202009 9.819 260.280 12.598
202012 9.438 260.474 12.100
202103 9.308 264.877 11.735
202106 8.927 271.696 10.973
202109 8.542 274.310 10.399
202112 8.119 278.802 9.725
202203 7.216 287.504 8.382
202206 8.040 296.311 9.061
202209 8.290 296.808 9.327
202212 6.687 296.797 7.524
202303 6.218 301.836 6.880
202306 6.193 305.109 6.778
202309 6.168 307.789 6.692
202312 6.010 306.746 6.543
202403 5.586 312.332 5.973
202406 5.585 314.175 5.937
202409 5.119 315.301 5.422
202412 5.257 315.605 5.563
202503 5.050 319.799 5.273
202506 4.482 322.561 4.640
202509 4.136 324.800 4.253
202512 4.177 324.054 4.305
202603 4.287 330.213 4.336
202606 4.317 333.952 4.317

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 Matrix Service Co (FRA:MX2) Overvalued in 2026?

Based on GuruFocus' analysis, Matrix Service Co stock appears to be undervalued. The current stock price of €9.00 is trading 15.3% below its estimated GF Value™ of €10.63.

Key valuation signals for FRA:MX2:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €10.63 vs. price of €9.00 (15.3% below fair value)
  • GF Score™: 63/100 with 3 warning signs

No single metric tells the full story. See the FRA:MX2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Matrix Service Co Business Description

Other Exchanges MTRX:USA
Address 15 East 5th Street, Suite 1100, Tulsa, OK, USA, 74103
Matrix Service Co provides engineering, fabrication, construction, maintenance, and repair services prominently to the energy and industrial markets. The company operates through three main segments: Storage and Terminal Solutions, Utility and Power Infrastructure, and Process and Industrial Facilities. These segments cover services like building and maintaining storage tanks and terminals, supporting power delivery and new power generation projects including renewables, as well as plant maintenance and turnarounds for refining and petrochemical industries. Matrix generates revenue by delivering these services to clients in oil, gas, power, and petrochemical sectors across North America and internationally.
63GF Score

Get the complete analysis for FRA:MX2

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

€9.00
Price
€10.63
GF Value