El.En. SpA (LTS:0RH2) Cyclically Adjusted PB Ratio: (As of Jul. 24, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

LTS:0RH2 El.En. SpA LTS:0RH2
87 GF Score
Price €15.95
GF Value €11.97
Valuation Significantly Overvalued
! 3 Warning Signs
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What is El.En. SpA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation

El.En. SpA  (LTS:0RH2) 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.

El.En. SpA Cyclically Adjusted PB Ratio Related Terms

El.En. SpA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for El.En. SpA'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.

El.En. SpA Cyclically Adjusted PB Ratio Chart

El.En. SpA 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 6.51 4.93 3.11 3.41 3.76

El.En. SpA 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 0.00 3.11 0.00 3.76 0.00

LTS:0RH2 vs ABT, SYK, MDT: Cyclically Adjusted PB Ratio Comparison

For the Medical Devices subindustry, El.En. SpA'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.

El.En. SpA Cyclically Adjusted PB Ratio vs Medical Devices & Instruments Industry

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

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


LTS:0RH2
87GF Score
El.En. SpA LTS:0RH2
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

El.En. SpA 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.

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

For example, El.En. SpA'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)
=0/124.5600*124.5600
=0.000

Current CPI (Mar. 2026) = 124.5600.

El.En. SpA Quarterly Data

Book Value per Share CPI Adj_Book
201606 2.228 99.900 2.778
201609 0.000 100.100 0.000
201612 2.356 100.300 2.926
201703 0.000 101.000 0.000
201706 2.336 101.100 2.878
201709 0.000 101.200 0.000
201712 2.466 101.200 3.035
201803 0.000 101.800 0.000
201806 2.471 102.400 3.006
201809 0.000 102.600 0.000
201812 2.600 102.300 3.166
201903 0.000 102.800 0.000
201906 2.636 103.100 3.185
201909 0.000 102.900 0.000
201912 2.848 102.800 3.451
202003 0.000 102.900 0.000
202006 2.690 102.900 3.256
202009 0.000 102.300 0.000
202012 2.873 102.600 3.488
202103 0.000 103.700 0.000
202106 3.068 104.200 3.667
202109 0.000 104.900 0.000
202112 3.375 106.600 3.944
202203 0.000 110.400 0.000
202206 3.534 112.500 3.913
202209 0.000 114.200 0.000
202212 3.925 119.000 4.108
202303 0.000 118.800 0.000
202306 4.017 119.700 4.180
202309 0.000 120.300 0.000
202312 4.329 119.700 4.505
202403 0.000 120.200 0.000
202406 4.485 120.700 4.628
202409 0.000 121.200 0.000
202412 4.806 121.200 4.939
202503 0.000 122.500 0.000
202506 4.791 122.700 4.864
202509 0.000 123.100 0.000
202512 5.142 122.600 5.224
202603 0.000 124.560 0.000

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 El.En. SpA (LTS:0RH2) Overvalued in 2026?

Based on GuruFocus' analysis, El.En. SpA stock appears to be overvalued. The current stock price of €15.95 is trading 33.2% above its estimated GF Value™ of €11.97. GuruFocus considers El.En. SpA to be Significantly Overvalued.

Key valuation signals for LTS:0RH2:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €11.97 vs. price of €15.95 (33.2% above fair value)
  • GF Score™: 87/100 with 3 warning signs

No single metric tells the full story. See the LTS:0RH2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

El.En. SpA Business Description

Address Via Baldanzese No. 17, Calenzano, Florence, ITA, 50041
El.En. SpA is engaged in the research and development, manufacturing, distribution, and sales of laser systems. The company operates in two divisions: medical and industrial. In the medical division, the application of laser is used as a healing treatment for aesthetic, surgical, physiotherapy and dental. Industrial division develops solutions for laser material processing applications through cutting, marking, laser sources and restoration. The company generates the majority of its revenue from the medical division. Geographically, it derives maximum revenue from the Rest of the World.
87GF Score

Get the complete analysis for LTS:0RH2

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

€15.95
Price
€11.97
GF Value