Quad/Graphics (FRA:QGU) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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:QGU Quad/Graphics Inc FRA:QGU
52 GF Score
Price €8.25
GF Value €4.21
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Quad/Graphics Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Quad/Graphics  (FRA:QGU) 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.


Quad/Graphics Cyclically Adjusted PB Ratio Related Terms


Quad/Graphics Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Quad/Graphics'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.

Quad/Graphics Cyclically Adjusted PB Ratio Chart

Quad/Graphics 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 0.30 0.39 0.63 1.17 1.07

Quad/Graphics 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 0.88 0.99 1.03 1.14 1.47

FRA:QGU vs SPIR, BUUU, CASS: Cyclically Adjusted PB Ratio Comparison

For the Specialty Business Services subindustry, Quad/Graphics'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.


Quad/Graphics Cyclically Adjusted PB Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, Quad/Graphics's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:QGU
52GF Score
Quad/Graphics Inc FRA:QGU
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Quad/Graphics 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.

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

For example, Quad/Graphics'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)
=2.118/333.9520*333.9520
=2.118

Current CPI (Jun. 2026) = 333.9520.

Quad/Graphics Quarterly Data

Book Value per Share CPI Adj_Book
201609 6.970 241.428 9.641
201612 8.144 241.432 11.265
201703 8.283 243.801 11.346
201706 7.721 244.955 10.526
201709 7.610 246.819 10.297
201712 8.366 246.524 11.333
201803 8.627 249.554 11.545
201806 8.338 251.989 11.050
201809 8.548 252.439 11.308
201812 7.802 251.233 10.371
201903 7.083 254.202 9.305
201906 6.478 256.143 8.446
201909 4.187 256.759 5.446
201912 4.130 256.974 5.367
202003 3.332 258.115 4.311
202006 2.568 257.797 3.327
202009 2.612 260.280 3.351
202012 1.291 260.474 1.655
202103 1.448 264.877 1.826
202106 2.040 271.696 2.507
202109 2.287 274.310 2.784
202112 2.215 278.802 2.653
202203 2.219 287.504 2.577
202206 2.384 296.311 2.687
202209 2.667 296.808 3.001
202212 3.074 296.797 3.459
202303 2.648 301.836 2.930
202306 2.677 305.109 2.930
202309 2.625 307.789 2.848
202312 2.121 306.746 2.309
202403 1.588 312.332 1.698
202406 1.414 314.175 1.503
202409 0.874 315.301 0.926
202412 0.925 315.605 0.979
202503 1.562 319.799 1.631
202506 1.453 322.561 1.504
202509 1.617 324.800 1.663
202512 2.151 324.054 2.217
202603 2.129 330.213 2.153
202606 2.118 333.952 2.118

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 Quad/Graphics (FRA:QGU) Overvalued in 2026?

Based on GuruFocus' analysis, Quad/Graphics stock appears to be overvalued. The current stock price of €8.25 is trading 96% above its estimated GF Value™ of €4.21. GuruFocus considers Quad/Graphics to be Significantly Overvalued.

Key valuation signals for FRA:QGU:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €4.21 vs. price of €8.25 (96% above fair value)
  • GF Score™: 52/100 with 6 warning signs

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


Quad/Graphics Business Description

Other Exchanges QUAD:USA
Address N61 W23044 Harry\'s Way, Sussex, WI, USA, 53089-3995
Quad/Graphics Inc provides print and marketing services to help customers market their products, services, and contents. The company operates in the commercial segment of the printing industry. It operates through three divisions. The United States print and related services segment consists of the company's American operations. Besides the complete set of print and marketing solutions, this segment also manufactures ink. The international segment includes the company's printing business in Europe and Latin America and others countries. The corporate segment is engaged in the general and administrative activities as well as associated costs. The company almost generates all its revenue from the American domestic market..
52GF Score

Get the complete analysis for FRA:QGU

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

€8.25
Price
€4.21
GF Value