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Novonesis (Novozymes) B (FRA:NZM2) 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.
Novonesis (Novozymes) B Cyclically Adjusted PB Ratio Related Terms
Novonesis (Novozymes) B Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Novonesis (Novozymes) B'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.
Novonesis (Novozymes) B Cyclically Adjusted PB Ratio Chart
FRA:NZM2 vs LIN, SHW, ECL: Cyclically Adjusted PB Ratio Comparison
For the Specialty Chemicals subindustry, Novonesis (Novozymes) B'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.
Novonesis (Novozymes) B Cyclically Adjusted PB Ratio vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Novonesis (Novozymes) B's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Novonesis (Novozymes) B's Cyclically Adjusted PB Ratio falls into.
Novonesis (Novozymes) B 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.
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 Novonesis (Novozymes) B (FRA:NZM2) Overvalued in 2026?
Based on GuruFocus' analysis, Novonesis (Novozymes) B stock appears to be undervalued.
The current stock price of €55.28 is trading 4.1% below its estimated GF Value™ of €57.66.
GuruFocus considers Novonesis (Novozymes) B to be Fairly Valued.
Key valuation signals for FRA:NZM2:
Cyclically Adjusted PB Ratio:
GF Value™: €57.66 vs. price of €55.28 (4.1% below fair value)
No single metric tells the full story. See the FRA:NZM2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Novonesis was formed in 2024 through the merger of Novozymes and Chr. Hansen. Following the merger, the company became the world leader in industrial enzymes and microbial solutions, with a nearly 50% market share in both. The firm supplies a wide range of industry groups: household care, food and beverages, bioenergy, agriculture and feed, technical and pharmaceuticals. Its biological solutions create value for its customers by improving yield efficiency and performance, while saving energy and generating less waste. The company is headquartered in Denmark, employs more than 11,000 people, and works across more than 30 research and development and application centers and 23 manufacturing sites.
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