GJNSY (Gjensidige Forsikring ASA) 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
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.

GJNSY Gjensidige Forsikring ASA GJNSY
72 GF Score
Price $28.59
GF Value $24.81
Valuation Modestly Overvalued
! 4 Warning Signs
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What is Gjensidige Forsikring ASA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Gjensidige Forsikring ASA  (OTCPK:GJNSY) 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.


Gjensidige Forsikring ASA Cyclically Adjusted PB Ratio Related Terms


Gjensidige Forsikring ASA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Gjensidige Forsikring 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.

Gjensidige Forsikring ASA Cyclically Adjusted PB Ratio Chart

Gjensidige Forsikring 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 3.55 2.88 2.95 3.00 4.95

Gjensidige Forsikring 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 4.30 4.87 5.11 4.63 4.47

GJNSY vs CB, PGR, TRV: Cyclically Adjusted PB Ratio Comparison

For the Insurance - Property & Casualty subindustry, Gjensidige Forsikring 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.


Gjensidige Forsikring ASA Cyclically Adjusted PB Ratio vs Insurance Industry

For the Insurance industry and Financial Services sector, Gjensidige Forsikring ASA's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


GJNSY
72GF Score
Gjensidige Forsikring ASA GJNSY
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Gjensidige Forsikring 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.

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

For example, Gjensidige Forsikring 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)
=4.456/141.6200*141.6200
=4.456

Current CPI (Jun. 2026) = 141.6200.

Gjensidige Forsikring ASA Quarterly Data

Book Value per Share CPI Adj_Book
201609 5.458 104.200 7.418
201612 4.886 104.400 6.628
201703 5.173 105.000 6.977
201706 4.811 105.800 6.440
201709 5.365 105.900 7.175
201712 5.461 106.100 7.289
201803 5.788 107.300 7.639
201806 4.917 108.500 6.418
201809 5.124 109.500 6.627
201812 5.174 109.800 6.673
201903 4.968 110.400 6.373
201906 5.567 110.600 7.128
201909 5.243 111.100 6.683
201912 5.733 111.300 7.295
202003 4.862 111.200 6.192
202006 5.822 112.100 7.355
202009 4.843 112.900 6.075
202012 5.672 112.900 7.115
202103 4.792 114.600 5.922
202106 5.203 115.300 6.391
202109 5.456 117.500 6.576
202112 5.444 118.900 6.484
202203 4.599 119.800 5.437
202206 4.202 122.600 4.854
202209 4.017 125.600 4.529
202212 4.619 125.900 5.196
202303 3.885 127.600 4.312
202306 4.013 130.400 4.358
202309 4.136 129.800 4.513
202312 4.533 131.900 4.867
202403 3.643 132.600 3.891
202406 3.927 133.800 4.157
202409 4.348 133.700 4.606
202412 4.226 134.800 4.440
202503 3.825 136.100 3.980
202506 4.488 137.800 4.612
202509 4.846 138.500 4.955
202512 5.248 139.140 5.342
202603 4.075 141.060 4.091
202606 4.456 141.620 4.456

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 Gjensidige Forsikring ASA (GJNSY) Overvalued in 2026?

Based on GuruFocus' analysis, Gjensidige Forsikring ASA stock appears to be overvalued. The current stock price of $28.59 is trading 15.2% above its estimated GF Value™ of $24.81. GuruFocus considers Gjensidige Forsikring ASA to be Modestly Overvalued.

Key valuation signals for GJNSY:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $24.81 vs. price of $28.59 (15.2% above fair value)
  • GF Score™: 72/100 with 4 warning signs

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


Gjensidige Forsikring ASA Business Description

Address Schweigaardsgate 21, Oslo, NOR, 0191
Gjensidige Forsikring ASA develops and offers insurance covering customers' security needs and related services, including loss prevention and claims processing. It provides general insurance (property and liability) and accident and health insurance, operating in Norway, Denmark, and Sweden. It has four segments: General Insurance Private, serving individuals in Norway and Denmark; General Insurance Commercial, serving commercial, agricultural, and public sector customers in Norway and Denmark, and earning the majority of revenue; General Insurance Sweden, serving private and commercial markets; and Pension, offering occupational and individual pension products in Norway to enhance customer loyalty. It operates in Norway, Denmark, and Sweden, with maximum revenue coming from Norway.
72GF Score

Get the complete analysis for GJNSY

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

$28.59
Price
$24.81
GF Value