Pegasystems (MIL:1PEGA) 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.

MIL:1PEGA Pegasystems Inc MIL:1PEGA
58 GF Score
Price €30.92
GF Value €36.90
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Pegasystems Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Pegasystems  (MIL:1PEGA) 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.


Pegasystems Cyclically Adjusted PB Ratio Related Terms


Pegasystems Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Pegasystems'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.

Pegasystems Cyclically Adjusted PB Ratio Chart

Pegasystems 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 - - - - 15.72

Pegasystems 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 15.46 17.43 17.11 12.78 8.51

MIL:1PEGA vs RNG, KVYO, NIQ: Cyclically Adjusted PB Ratio Comparison

For the Software - Application subindustry, Pegasystems'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.


Pegasystems Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Pegasystems's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


MIL:1PEGA
58GF Score
Pegasystems Inc MIL:1PEGA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pegasystems 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.

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

For example, Pegasystems'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)
=2.982/333.9520*333.9520
=2.982

Current CPI (Jun. 2026) = 333.9520.

Pegasystems Quarterly Data

Book Value per Share CPI Adj_Book
201609 1.910 241.428 2.642
201612 2.079 241.432 2.876
201703 2.182 243.801 2.989
201706 2.082 244.955 2.838
201709 2.020 246.819 2.733
201712 3.498 246.524 4.739
201803 3.427 249.554 4.586
201806 3.476 251.989 4.607
201809 3.423 252.439 4.528
201812 3.462 251.233 4.602
201903 3.321 254.202 4.363
201906 3.092 256.143 4.031
201909 3.058 256.759 3.977
201912 3.016 256.974 3.919
202003 3.224 258.115 4.171
202006 3.079 257.797 3.989
202009 2.797 260.280 3.589
202012 2.739 260.474 3.512
202103 2.508 264.877 3.162
202106 2.704 271.696 3.324
202109 2.428 274.310 2.956
202112 2.239 278.802 2.682
202203 2.234 287.504 2.595
202206 0.781 296.311 0.880
202209 0.404 296.808 0.455
202212 0.744 296.797 0.837
202303 0.857 301.836 0.948
202306 0.801 305.109 0.877
202309 0.948 307.789 1.029
202312 1.910 306.746 2.079
202403 2.125 312.332 2.272
202406 2.379 314.175 2.529
202409 2.470 315.301 2.616
202412 3.283 315.605 3.474
202503 3.307 319.799 3.453
202506 3.110 322.561 3.220
202509 2.978 324.800 3.062
202512 3.936 324.054 4.056
202603 3.630 330.213 3.671
202606 2.982 333.952 2.982

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 Pegasystems (MIL:1PEGA) Overvalued in 2026?

Based on GuruFocus' analysis, Pegasystems stock appears to be undervalued. The current stock price of €30.92 is trading 16.2% below its estimated GF Value™ of €36.90. GuruFocus considers Pegasystems to be Modestly Undervalued.

Key valuation signals for MIL:1PEGA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €36.90 vs. price of €30.92 (16.2% below fair value)
  • GF Score™: 58/100 with 2 warning signs

No single metric tells the full story. See the MIL:1PEGA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pegasystems Business Description

Address 225 Wyman Street, Waltham, MA, USA, 02451
Founded in 1983, Pegasystems provides a suite of solutions for customer engagement and business process management. The company's key offering is the Pega Infinity platform, which combines business process management with customer relationship management applications. The company focuses on enterprise-size customers in the financial, insurance, and healthcare industries.
58GF Score

Get the complete analysis for MIL:1PEGA

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

€30.92
Price
€36.90
GF Value