Bonheur ASA (FRA:V7P) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
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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:V7P Bonheur ASA FRA:V7P
74 GF Score
Price €23.95
GF Value €20.29
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Bonheur ASA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Bonheur ASA  (FRA:V7P) 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.


Bonheur ASA Cyclically Adjusted PB Ratio Related Terms


Bonheur ASA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Bonheur ASA'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.

Bonheur ASA Cyclically Adjusted PB Ratio Chart

Bonheur ASA 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 0.95 0.82 0.71 0.84 0.96

Bonheur ASA 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 0.77 0.78 0.91 0.92 0.92

FRA:V7P vs MMM, HON: Cyclically Adjusted PB Ratio Comparison

For the Conglomerates subindustry, Bonheur ASA'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.


Bonheur ASA Cyclically Adjusted PB Ratio vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Bonheur ASA's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:V7P
74GF Score
Bonheur ASA FRA:V7P
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bonheur ASA 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.

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

For example, Bonheur ASA'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)
=25.213/141.6200*141.6200
=25.213

Current CPI (Jun. 2026) = 141.6200.

Bonheur ASA Quarterly Data

Book Value per Share CPI Adj_Book
201609 33.067 104.200 44.942
201612 33.963 104.400 46.071
201703 33.166 105.000 44.733
201706 29.532 105.800 39.530
201709 28.227 105.900 37.748
201712 26.694 106.100 35.631
201803 25.073 107.300 33.093
201806 23.176 108.500 30.251
201809 21.300 109.500 27.548
201812 17.466 109.800 22.528
201903 15.671 110.400 20.103
201906 14.967 110.600 19.165
201909 14.643 111.100 18.666
201912 14.046 111.300 17.872
202003 13.265 111.200 16.894
202006 12.174 112.100 15.380
202009 11.131 112.900 13.963
202012 10.380 112.900 13.021
202103 10.100 114.600 12.481
202106 9.618 115.300 11.814
202109 9.158 117.500 11.038
202112 10.373 118.900 12.355
202203 11.046 119.800 13.058
202206 10.612 122.600 12.258
202209 13.886 125.600 15.657
202212 15.556 125.900 17.498
202303 15.892 127.600 17.638
202306 16.380 130.400 17.789
202309 15.877 129.800 17.323
202312 16.573 131.900 17.794
202403 16.464 132.600 17.584
202406 17.438 133.800 18.457
202409 17.947 133.700 19.010
202412 18.395 134.800 19.326
202503 19.480 136.100 20.270
202506 19.543 137.800 20.085
202509 21.699 138.500 22.188
202512 22.328 139.140 22.726
202603 25.281 141.060 25.381
202606 25.213 141.620 25.213

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 Bonheur ASA (FRA:V7P) Overvalued in 2026?

Based on GuruFocus' analysis, Bonheur ASA stock appears to be overvalued. The current stock price of €23.95 is trading 18% above its estimated GF Value™ of €20.29. GuruFocus considers Bonheur ASA to be Modestly Overvalued.

Key valuation signals for FRA:V7P:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €20.29 vs. price of €23.95 (18% above fair value)
  • GF Score™: 74/100 with 6 warning signs

No single metric tells the full story. See the FRA:V7P stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Bonheur ASA Business Description

Address Fred Olsens Gate 2, P.O. Box 1159, Sentrum, Oslo, NOR, 0107
Bonheur ASA was initially a Norwegian shipping company. Currently, the company is engaged in several businesses. The company provides services through four segments: Other Investments, Renewable Energy, Cruise, and Wind Services. The renewable energy segment is involved in developing, constructing, and operating wind farms in Scotland, Norway, Sweden, Ireland, Italy, and the USA. The wind Service segment is engaged in logistics and services within the offshore wind industry. Cruise owns and operates four cruise ships and provides a diverse range of cruises, The other investments segment has investments within media, real estate, bonds, and shares.
74GF Score

Get the complete analysis for FRA:V7P

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

€23.95
Price
€20.29
GF Value