Holmen AB (LTS:0XS9) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

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.

LTS:0XS9 Holmen AB LTS:0XS9
72 GF Score
Price kr321.40
GF Value kr400.59
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Holmen AB Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Holmen AB  (LTS:0XS9) 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.


Holmen AB Cyclically Adjusted PB Ratio Related Terms


Holmen AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Holmen 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.

Holmen AB Cyclically Adjusted PB Ratio Chart

Holmen 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 2.41 1.88 1.71 1.48 1.20

Holmen AB 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 1.39 1.30 1.27 1.20 1.04

LTS:0XS9 vs SLVM: Cyclically Adjusted PB Ratio Comparison

For the Paper & Paper Products subindustry, Holmen 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.


Holmen AB Cyclically Adjusted PB Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Holmen AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


LTS:0XS9
72GF Score
Holmen AB LTS:0XS9
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Holmen 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.

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

For example, Holmen AB'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)
=360.17/134.6100*134.6100
=360.170

Current CPI (Jun. 2026) = 134.6100.

Holmen AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 122.250 101.138 162.710
201612 126.452 102.022 166.844
201703 123.488 102.022 162.933
201706 125.803 102.752 164.807
201709 128.988 103.279 168.118
201712 131.167 103.793 170.112
201803 133.262 103.962 172.548
201806 132.369 104.875 169.900
201809 135.804 105.679 172.982
201812 139.608 105.912 177.437
201903 142.399 105.886 181.028
201906 137.701 106.742 173.653
201909 136.279 107.214 171.102
201912 247.712 107.766 309.416
202003 247.274 106.563 312.356
202006 251.677 107.498 315.153
202009 251.751 107.635 314.843
202012 262.565 108.296 326.365
202103 266.659 108.360 331.258
202106 261.002 108.928 322.540
202109 266.221 110.338 324.783
202112 290.207 112.486 347.286
202203 292.684 114.825 343.115
202206 316.392 118.384 359.759
202209 336.885 122.296 370.805
202212 351.540 126.365 374.477
202303 330.534 127.042 350.225
202306 332.242 129.407 345.602
202309 333.169 130.224 344.392
202312 357.506 131.912 364.819
202403 357.739 132.205 364.246
202406 352.831 132.716 357.866
202409 358.723 132.304 364.975
202412 363.865 132.987 368.305
202503 358.033 132.825 362.846
202506 361.124 133.699 363.585
202509 368.842 133.480 371.965
202512 361.099 133.380 364.429
202603 356.152 133.550 358.979
202606 360.170 134.610 360.170

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 Holmen AB (LTS:0XS9) Overvalued in 2026?

Based on GuruFocus' analysis, Holmen AB stock appears to be undervalued. The current stock price of kr321.40 is trading 19.8% below its estimated GF Value™ of kr400.59. GuruFocus considers Holmen AB to be Modestly Undervalued.

Key valuation signals for LTS:0XS9:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: kr400.59 vs. price of kr321.40 (19.8% below fair value)
  • GF Score™: 72/100 with 4 warning signs

No single metric tells the full story. See the LTS:0XS9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Holmen AB Business Description

Address Strandvagen 1, P.O. Box 5407, Stockholm, SWE, SE-114 84
Holmen AB produces and sells timber, wood products, a variety of paper products, and electricity generated through renewable energy sources. The company organizes itself into four segments based on product type: Forest, Board and Paper, Wood Products, and Renewable Energy. The company's product portfolio includes logs, biofuel, paperboard for consumer packaging, paper for books, construction timber, and renewable energy from hydro and wind power. The company's customer segment is composed of printing firms, sawmills, pulp mills, paper mills, the construction industry, and the packaging industry, among others. The vast majority of revenue comes from the company's Board and Paper segment.
72GF Score

Get the complete analysis for LTS:0XS9

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

kr321.40
Price
kr400.59
GF Value