Bath & Body Works (MEX:BBWI) Cyclically Adjusted PB Ratio: (As of Jul. 31, 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.

MEX:BBWI Bath & Body Works Inc MEX:BBWI
51 GF Score
Price MXN345.00
GF Value MXN591.40
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is Bath & Body Works Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Bath & Body Works  (MEX:BBWI) 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.


Bath & Body Works Cyclically Adjusted PB Ratio Related Terms


Bath & Body Works Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Bath & Body Works'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.

Bath & Body Works Cyclically Adjusted PB Ratio Chart

Bath & Body Works Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Bath & Body Works Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 0.00 0.00 0.00 0.00

MEX:BBWI vs MNSO, RH, ASO: Cyclically Adjusted PB Ratio Comparison

For the Specialty Retail subindustry, Bath & Body Works'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.


Bath & Body Works Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Bath & Body Works's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Bath & Body Works's Cyclically Adjusted PB Ratio falls into.


MEX:BBWI
51GF Score
Bath & Body Works Inc MEX:BBWI
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bath & Body Works 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.

Bath & Body Works's Cyclically Adjusted Book per Share for the quarter that ended in Apr. 2026 is calculated as:

For example, Bath & Body Works's adjusted Book Value per Share data for the three months ended in Apr. 2026 was:

Adj_Book=Book Value per Share/CPI of Apr. 2026 (Change)*Current CPI (Apr. 2026)
=-98.547/333.0200*333.0200
=-98.547

Current CPI (Apr. 2026) = 333.0200.

Bath & Body Works Quarterly Data

Book Value per Share CPI Adj_Book
201607 -74.126 240.628 -102.588
201610 -78.182 241.729 -107.708
201701 -53.109 242.839 -72.832
201704 -55.346 244.524 -75.376
201707 -57.074 244.786 -77.647
201710 -76.041 246.663 -102.663
201801 -50.079 247.867 -67.283
201804 -65.565 250.546 -87.147
201807 -76.015 252.006 -100.452
201810 -96.782 252.885 -127.451
201901 -60.206 251.712 -79.654
201904 -62.076 255.548 -80.895
201907 -64.205 256.571 -83.336
201910 -86.283 257.346 -111.655
202001 -102.224 257.971 -131.963
202004 -160.521 256.389 -208.498
202007 -152.544 259.101 -196.063
202010 -120.003 260.388 -153.476
202101 -48.233 261.582 -61.405
202104 -38.882 267.054 -48.486
202107 -89.045 273.003 -108.621
202110 -132.475 276.589 -159.503
202201 -123.383 281.148 -146.147
202204 -229.384 289.109 -264.224
202207 -237.836 296.276 -267.332
202210 -227.120 298.012 -253.800
202301 -181.085 299.170 -201.574
202304 -170.528 303.363 -187.199
202307 -158.017 305.691 -172.144
202310 -168.998 307.671 -182.922
202401 -123.686 308.417 -133.553
202404 -128.326 313.548 -136.295
202407 -145.314 314.540 -153.852
202410 -161.451 315.664 -170.328
202501 -132.274 317.671 -138.665
202504 -134.090 320.795 -139.200
202507 -139.893 323.048 -144.211
202510 -144.120 0.000
202601 -110.569 325.252 -113.210
202604 -98.547 333.020 -98.547

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 Bath & Body Works (MEX:BBWI) Overvalued in 2026?

Based on GuruFocus' analysis, Bath & Body Works stock appears to be undervalued. The current stock price of MXN345.00 is trading 41.7% below its estimated GF Value™ of MXN591.40. GuruFocus considers Bath & Body Works to be Significantly Undervalued.

Key valuation signals for MEX:BBWI:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: MXN591.40 vs. price of MXN345.00 (41.7% below fair value)
  • GF Score™: 51/100 with 4 warning signs

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


Bath & Body Works Business Description

Address Three Limited Parkway, Columbus, OH, USA, 43230
Bath & Body Works is a specialty home fragrance and fragrant body care retailer operating under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company generates most of its business in North America, with just 4% of sales from international markets in fiscal 2025. For fiscal 2025, 77% of sales stemmed from the brick-and-mortar network of more than 1,900 retail stores, similar to 2024 levels, as consumer shopping patterns remained normal. Future growth is expected from store upgrades, digital and international channels, as well as adjacent category expansions like men's and lip.
51GF Score

Get the complete analysis for MEX:BBWI

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

MXN345.00
Price
MXN591.40
GF Value