SBI HoldingsFRA:ZOF +3.45%73 Cyclically Adjusted PB Ratio is 1.69 as of Jul. 12, 2026, which is 18% above its 10-year median of 1.43. GuruFocus rates FRA:ZOF with a GF Score™ of 73/100 and a GF Value™ of €13.80 (Fairly Valued). The stock has 7 warning signs investors should review. Among 97 Diversified Financial Services companies, SBI Holdings ranks worse than 55.67% on this metric.
The historical rank and industry rank for SBI Holdings's Cyclically Adjusted PB Ratio or its related term are showing as below:
FRA:ZOF'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.74 Med: 1.43 Max: 2.44
Current: 1.75
During the past years, SBI Holdings's highest Cyclically Adjusted PB Ratio was 2.44. The lowest was 0.74. And the median was 1.43.
FRA:ZOF's Cyclically Adjusted PB Ratio is ranked worse than 55.67% of 97
companies
in the Diversified Financial Services industry
Industry Median: 1.52
vs FRA:ZOF: 1.75
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
SBI Holdings's adjusted book value per share data for the three months ended in Mar. 2026 was €15.138. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is €8.77 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
SBI Holdings (FRA:ZOF) 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.
SBI Holdings Cyclically Adjusted PB Ratio Related Terms
SBI Holdings Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for SBI Holdings'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.
FRA:ZOF vs VOYA, FRHC: Cyclically Adjusted PB Ratio Comparison
For the Financial Conglomerates subindustry, SBI Holdings'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.
SBI Holdings Cyclically Adjusted PB Ratio vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, SBI Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where SBI Holdings's Cyclically Adjusted PB Ratio falls into.
SBI Holdings 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.
SBI Holdings's Cyclically Adjusted PB Ratio for today is calculated as
* 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.
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.
What does a Cyclically Adjusted PB Ratio of 1.69 mean?
SBI Holdings (FRA:ZOF) has a Cyclically Adjusted PB Ratio of 1.69 as of Jul. 12, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on SBI Holdings and its competitors. This is 18% above median its historical median of 1.43. Over the past decade, SBI Holdings' Cyclically Adjusted PB Ratio has ranged from 0.74 to 2.44. According to the industry distribution chart, SBI Holdings ranks #54 out of 97 companies in the Diversified Financial Services industry, placing it in the top 55.7%.
Is SBI Holdings' Cyclically Adjusted PB Ratio too high?
SBI Holdings' current Cyclically Adjusted PB Ratio of 1.69 is 18% above median its 10-year median of 1.43. Over the past 10 years, this metric has ranged from a low of 0.74 to a high of 2.44. The Diversified Financial Services industry median Cyclically Adjusted PB Ratio is 1.52. SBI Holdings' value of 1.69 is 11.2% above this industry median. Based on the distribution chart, SBI Holdings ranks #54 out of 97 companies in the Diversified Financial Services industry, which is below the industry midpoint. Overall, SBI Holdings has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SBI Holdings' Cyclically Adjusted PB Ratio compare to VOYA and FRHC?
According to the Diversified Financial Services industry distribution chart, SBI Holdings ranks #54 out of 97 companies for Cyclically Adjusted PB Ratio. This places SBI Holdings in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.52. SBI Holdings' value of 1.69 is 11.2% above this benchmark. Historically, SBI Holdings' own Cyclically Adjusted PB Ratio has ranged from 0.74 to 2.44 over the past decade. While the company's 10-year median is 1.43 vs. the industry median of 1.52, SBI Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Diversified Financial Services company?
The median Cyclically Adjusted PB Ratio among Diversified Financial Services companies is 1.52, based on 97 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SBI Holdings's current Cyclically Adjusted PB Ratio of 1.69 is 11.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on SBI Holdings and its competitors. For the Diversified Financial Services industry, the median Cyclically Adjusted PB Ratio is 1.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SBI Holdings's current Cyclically Adjusted PB Ratio is 1.69, which is 18% above median its own 10-year median of 1.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SBI Holdings stock overvalued right now?
Based on GuruFocus' analysis, SBI Holdings (FRA:ZOF) is currently considered Fairly Valued. The stock's GF Value™ is €13.80, compared to a current price of €14.84 — trading 7.5% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.69, which is 18% above median its 10-year median of 1.43 and 11.2% above the Diversified Financial Services industry median of 1.52. SBI Holdings' overall GF Score™ is 73/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For SBI Holdings (FRA:ZOF), the current Cyclically Adjusted PB Ratio is 1.69 as of Jul. 12, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is SBI Holdings (FRA:ZOF) Overvalued in 2026?
Based on GuruFocus' analysis, SBI Holdings stock appears to be overvalued.
The current stock price of €14.84 is trading 7.5% above its estimated GF Value™ of €13.80.
GuruFocus considers SBI Holdings to be Fairly Valued.
Key valuation signals for FRA:ZOF:
Cyclically Adjusted PB Ratio: 1.69 (18% above median its 10-year median of 1.43)
GF Value™: €13.80 vs. price of €14.84 (7.5% above fair value)
Industry Position: 11.2% above the Diversified Financial Services median (#54 of 97)
No single metric tells the full story. See the FRA:ZOF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SBI Holdings Inc is a financial conglomerate that offers a variety of services in securities, banking, and insurance. The company operates through five segments. The Asset Management segment provides investment management, advice, and financial product information. The Crypto Asset segment offers crypto exchange and trading services. The Financial Services segment covers securities, banking, and insurance activities in Japan and abroad. The Investment segment invests in IT, fintech, blockchain, finance, and biotech ventures. The Next Generation Business develops and sells pharmaceuticals, health foods, and cosmetics, conducts R&D in cancer and immunology, offers digital medical solutions, and engages in medical finance. It generates majority of its revenue from Financial services segment.
73GF 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.
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