HUFAF (Hufvudstaden AB) Cyclically Adjusted PB Ratio: 0.75 (As of Aug. 03, 2026) — 34% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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.
Reviewed by: Charlie Tian Charlie Tian
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.

HUFAF Hufvudstaden AB HUFAF
66 GF Score
Price $12.90
GF Value $13.53
Valuation Fairly Valued
! 6 Warning Signs
View Full Analysis

What is Hufvudstaden AB Cyclically Adjusted PB Ratio?

Hufvudstaden AB HUFAF 66 Cyclically Adjusted PB Ratio is 0.75 as of Aug. 03, 2026, which is 34% below its 10-year median of 1.14. GuruFocus rates HUFAF with a GF Score™ of 66/100 and a GF Value™ of $13.53 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,414 Real Estate companies, Hufvudstaden AB ranks worse than 53.39% on this metric.

As of today (2026-08-03), Hufvudstaden AB's current share price is $12.895. Hufvudstaden AB's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $17.10. Hufvudstaden AB's Cyclically Adjusted PB Ratio for today is 0.75.

The historical rank and industry rank for Hufvudstaden AB's Cyclically Adjusted PB Ratio or its related term are showing as below:

HUFAF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.71   Med: 1.14   Max: 2.18
Current: 0.75

During the past years, Hufvudstaden AB's highest Cyclically Adjusted PB Ratio was 2.18. The lowest was 0.71. And the median was 1.14.

HUFAF's Cyclically Adjusted PB Ratio is ranked worse than
53.39% of 1414 companies
in the Real Estate industry
Industry Median: 0.69 vs HUFAF: 0.75

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.

Hufvudstaden AB's adjusted book value per share data for the three months ended in Mar. 2026 was $15.240. 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 $17.10 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Hufvudstaden AB  (OTCPK:HUFAF) 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.


Hufvudstaden AB Cyclically Adjusted PB Ratio Related Terms


Hufvudstaden AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Hufvudstaden AB'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.

Hufvudstaden AB Cyclically Adjusted PB Ratio Chart

Hufvudstaden AB 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 1.15 1.06 0.94 0.78 0.78

Hufvudstaden AB Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.72 0.78 0.80 0.78 0.75

HUFAF vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio Comparison

For the Real Estate Services subindustry, Hufvudstaden AB'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.


Hufvudstaden AB Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Hufvudstaden AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


HUFAF
66GF Score
Hufvudstaden AB HUFAF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hufvudstaden AB 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.

Hufvudstaden AB's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=12.895/17.10
=0.75

* 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.

Hufvudstaden AB's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Hufvudstaden AB's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=15.24/133.5600*133.5600
=15.240

Current CPI (Mar. 2026) = 133.5600.

Hufvudstaden AB Quarterly Data

Book Value per Share CPI Adj_Book
201606 12.012 101.019 15.881
201609 12.208 101.138 16.122
201612 12.136 102.022 15.888
201703 12.420 102.022 16.259
201706 13.403 102.752 17.422
201709 14.829 103.279 19.177
201712 14.674 103.793 18.882
201803 14.926 103.962 19.175
201806 15.014 104.875 19.121
201809 15.086 105.679 19.066
201812 15.569 105.912 19.633
201903 14.991 105.886 18.909
201906 15.313 106.742 19.160
201909 15.121 107.214 18.837
201912 16.130 107.766 19.991
202003 14.815 106.563 18.568
202006 15.359 107.498 19.083
202009 16.230 107.635 20.139
202012 16.914 108.296 20.860
202103 16.273 108.360 20.058
202106 17.001 108.928 20.846
202109 16.802 110.338 20.338
202112 16.894 112.486 20.059
202203 15.978 114.825 18.585
202206 15.416 118.384 17.392
202209 14.313 122.296 15.631
202212 14.890 126.365 15.738
202303 14.257 127.042 14.989
202306 13.468 129.407 13.900
202309 12.990 130.224 13.323
202312 13.873 131.912 14.046
202403 13.221 132.205 13.356
202406 13.145 132.716 13.229
202409 13.546 132.304 13.675
202412 12.872 132.987 12.927
202503 13.718 132.825 13.794
202506 14.653 133.699 14.638
202509 15.108 133.480 15.117
202512 15.428 133.390 15.448
202603 15.240 133.560 15.240

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.

What does a Cyclically Adjusted PB Ratio of 0.75 mean?
Hufvudstaden AB (HUFAF) has a Cyclically Adjusted PB Ratio of 0.75 as of Aug. 03, 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 Hufvudstaden AB and its competitors. This is 34% below median its historical median of 1.14. Over the past decade, Hufvudstaden AB's Cyclically Adjusted PB Ratio has ranged from 0.71 to 2.18. According to the industry distribution chart, Hufvudstaden AB ranks #755 out of 1414 companies in the Real Estate industry, placing it in the top 53.4%.
Is Hufvudstaden AB's Cyclically Adjusted PB Ratio too high?
Hufvudstaden AB's current Cyclically Adjusted PB Ratio of 0.75 is 34% below median its 10-year median of 1.14. Over the past 10 years, this metric has ranged from a low of 0.71 to a high of 2.18. The Real Estate industry median Cyclically Adjusted PB Ratio is 0.69. Hufvudstaden AB's value of 0.75 is 8.7% above this industry median. Based on the distribution chart, Hufvudstaden AB ranks #755 out of 1414 companies in the Real Estate industry, which is below the industry midpoint. Overall, Hufvudstaden AB has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hufvudstaden AB's Cyclically Adjusted PB Ratio compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Hufvudstaden AB ranks #755 out of 1414 companies for Cyclically Adjusted PB Ratio. This places Hufvudstaden AB in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.69. Hufvudstaden AB's value of 0.75 is 8.7% above this benchmark. Historically, Hufvudstaden AB's own Cyclically Adjusted PB Ratio has ranged from 0.71 to 2.18 over the past decade. While the company's 10-year median is 1.14 vs. the industry median of 0.69, Hufvudstaden AB 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 Real Estate company?
The median Cyclically Adjusted PB Ratio among Real Estate companies is 0.69, based on 1,414 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. Hufvudstaden AB's current Cyclically Adjusted PB Ratio of 0.75 is 8.7% 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 Hufvudstaden AB and its competitors. For the Real Estate industry, the median Cyclically Adjusted PB Ratio is 0.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hufvudstaden AB's current Cyclically Adjusted PB Ratio is 0.75, which is 34% below median its own 10-year median of 1.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hufvudstaden AB stock overvalued right now?
Based on GuruFocus' analysis, Hufvudstaden AB (HUFAF) is currently considered Fairly Valued. The stock's GF Value™ is $13.53, compared to a current price of $12.90 — trading 4.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.75, which is 34% below median its 10-year median of 1.14 and 8.7% above the Real Estate industry median of 0.69. Hufvudstaden AB's overall GF Score™ is 66/100 with 6 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 Hufvudstaden AB (HUFAF), the current Cyclically Adjusted PB Ratio is 0.75 as of Aug. 03, 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 Hufvudstaden AB (HUFAF) Overvalued in 2026?

Based on GuruFocus' analysis, Hufvudstaden AB stock appears to be undervalued. The current stock price of $12.90 is trading 4.7% below its estimated GF Value™ of $13.53. GuruFocus considers Hufvudstaden AB to be Fairly Valued.

Key valuation signals for HUFAF:

  • Cyclically Adjusted PB Ratio: 0.75 (34% below median its 10-year median of 1.14)
  • GF Value™: $13.53 vs. price of $12.90 (4.7% below fair value)
  • GF Score™: 66/100 with 6 warning signs
  • Industry Position: 8.7% above the Real Estate median (#755 of 1414)

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


Hufvudstaden AB Business Description

Address Regeringsgatan 38, Stockholm, SWE, SE-111 77
Hufvudstaden AB A manages and develops commercial properties in Sweden. The company focuses on retail and office properties in the Stockholm and Gothenburg area. The group's operations are divided into three segments: Property Management, NK Retail, and Other Operations. It rents out centrally located residential and commercial properties such as shops, offices, hotels, cinemas, restaurants, warehouses, garages, and apartments. It also owns Nordiska Kompaniet, a department store in Stockholm, Sweden. The company operates through three divisions: Stockholm business area, Gothenburg business area, and Noridska Kompaniet business area. The Stockholm business area contributes the majority of revenue.
66GF Score

Get the complete analysis for HUFAF

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

$12.90
Price
$13.53
GF Value