ResMed (FRA:RMEA) Cyclically Adjusted PB Ratio: (As of Aug. 07, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:RMEA ResMed Inc FRA:RMEA
90 GF Score
Price €17.10
GF Value €23.14
! 1 Warning Sign
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What is ResMed Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


ResMed  (FRA:RMEA) 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.


ResMed Cyclically Adjusted PB Ratio Related Terms


ResMed Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for ResMed'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.

ResMed Cyclically Adjusted PB Ratio Chart

ResMed 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 12.32 11.76 9.26 10.99 0.00

ResMed 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 10.99 11.25 9.64 8.58 0.00

FRA:RMEA vs MDLN, WST, COO: Cyclically Adjusted PB Ratio Comparison

For the Medical Instruments & Supplies subindustry, ResMed'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.


ResMed Cyclically Adjusted PB Ratio vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, ResMed's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:RMEA
90GF Score
ResMed Inc FRA:RMEA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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ResMed 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.

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

For example, ResMed'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)
=3.943/333.9520*333.9520
=3.943

Current CPI (Jun. 2026) = 333.9520.

ResMed Quarterly Data

Book Value per Share CPI Adj_Book
201609 1.121 241.428 1.551
201612 1.145 241.432 1.584
201703 1.223 243.801 1.675
201706 1.227 244.955 1.673
201709 1.209 246.819 1.636
201712 1.194 246.524 1.617
201803 1.175 249.554 1.572
201806 1.235 251.989 1.637
201809 1.143 252.439 1.512
201812 1.200 251.233 1.595
201903 1.248 254.202 1.640
201906 1.277 256.143 1.665
201909 1.337 256.759 1.739
201912 1.405 256.974 1.826
202003 1.412 258.115 1.827
202006 1.530 257.797 1.982
202009 1.570 260.280 2.014
202012 1.619 260.474 2.076
202103 1.564 264.877 1.972
202106 1.644 271.696 2.021
202109 1.765 274.310 2.149
202112 1.904 278.802 2.281
202203 2.035 287.504 2.364
202206 2.171 296.311 2.447
202209 2.367 296.808 2.663
202212 2.402 296.797 2.703
202303 2.500 301.836 2.766
202306 2.592 305.109 2.837
202309 2.708 307.789 2.938
202312 2.794 306.746 3.042
202403 2.900 312.332 3.101
202406 3.076 314.175 3.270
202409 3.189 315.301 3.378
202412 3.416 315.605 3.615
202503 3.499 319.799 3.654
202506 3.535 322.561 3.660
202509 3.574 324.800 3.675
202512 3.706 324.054 3.819
202603 3.872 330.213 3.916
202606 3.943 333.952 3.943

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 ResMed (FRA:RMEA) Overvalued in 2026?

Based on GuruFocus' analysis, ResMed stock appears to be undervalued. The current stock price of €17.10 is trading 26.1% below its estimated GF Value™ of €23.14.

Key valuation signals for FRA:RMEA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €23.14 vs. price of €17.10 (26.1% below fair value)
  • GF Score™: 90/100 with 1 warning sign

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


ResMed Business Description

Address 9001 Spectrum Center Boulevard, San Diego, CA, USA, 92123
ResMed is one of the largest respiratory care device companies globally, primarily developing and supplying flow generators, masks, and accessories for the treatment of sleep apnea. Increasing diagnosis of sleep apnea combined with aging populations and increasing prevalence of obesity is resulting in a structurally growing market. The company earns roughly two-thirds of its revenue in the Americas and the balance across other regions dominated by Europe, Japan, and Australia. Recent developments and acquisitions have focused on digital health as ResMed is aiming to differentiate itself through the provision of clinical data for use by the patient, medical care advisor, and payer in the out-of-hospital setting.
90GF Score

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

€17.10
Price
€23.14
GF Value