FinecoBank SpA (MIL:FBK) Cyclically Adjusted PB Ratio: (As of Aug. 01, 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.
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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:FBK FinecoBank SpA MIL:FBK
78 GF Score
Price €23.69
GF Value €17.15
Valuation Significantly Overvalued
! 7 Warning Signs
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What is FinecoBank SpA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


FinecoBank SpA  (MIL:FBK) 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.


FinecoBank SpA Cyclically Adjusted PB Ratio Related Terms


FinecoBank SpA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for FinecoBank 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.

FinecoBank SpA Cyclically Adjusted PB Ratio Chart

FinecoBank 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 0.00 0.00 6.91 7.43 8.66

FinecoBank SpA Quarterly Data
Mar21 Jun21 Dec21 Mar22 Jun22 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 7.82 7.39 8.66 0.00 0.00

FinecoBank SpA Cyclically Adjusted PB Ratio Competitor Comparison

For the Banks - Regional subindustry, FinecoBank 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.


FinecoBank SpA Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, FinecoBank SpA's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


MIL:FBK
78GF Score
FinecoBank SpA MIL:FBK
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

FinecoBank 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.

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

For example, FinecoBank 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)
=4.416/124.5600*124.5600
=4.416

Current CPI (Mar. 2026) = 124.5600.

FinecoBank SpA Quarterly Data

Book Value per Share CPI Adj_Book
201412 0.911 99.721 1.138
201503 1.006 99.814 1.255
201506 0.876 100.279 1.088
201509 0.962 100.000 1.198
201512 1.046 99.814 1.305
201603 1.143 99.600 1.429
201606 0.996 99.900 1.242
201609 1.082 100.100 1.346
201612 1.124 100.300 1.396
201703 1.207 101.000 1.489
201706 1.023 101.100 1.260
201709 1.105 101.200 1.360
201712 1.204 101.200 1.482
201803 1.631 101.800 1.996
201806 1.437 102.400 1.748
201812 1.607 102.300 1.957
201906 1.527 103.100 1.845
201912 2.273 102.800 2.754
202003 0.000 102.900 0.000
202006 2.555 102.900 3.093
202012 2.768 102.600 3.360
202103 2.926 103.700 3.515
202106 3.110 104.200 3.718
202112 2.832 106.600 3.309
202203 3.041 110.400 3.431
202206 2.802 112.500 3.102
202212 3.132 119.000 3.278
202303 3.371 118.800 3.534
202306 3.131 119.700 3.258
202309 3.368 120.300 3.487
202312 3.595 119.700 3.741
202403 4.370 120.200 4.529
202406 3.625 120.700 3.741
202409 3.886 121.200 3.994
202412 3.911 121.200 4.019
202503 4.158 122.500 4.228
202506 3.670 122.700 3.726
202509 3.915 123.100 3.961
202512 4.176 122.600 4.243
202603 4.416 124.560 4.416

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 FinecoBank SpA (MIL:FBK) Overvalued in 2026?

Based on GuruFocus' analysis, FinecoBank SpA stock appears to be overvalued. The current stock price of €23.69 is trading 38.1% above its estimated GF Value™ of €17.15. GuruFocus considers FinecoBank SpA to be Significantly Overvalued.

Key valuation signals for MIL:FBK:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €17.15 vs. price of €23.69 (38.1% above fair value)
  • GF Score™: 78/100 with 7 warning signs

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


FinecoBank SpA Business Description

Address Piazza Durante, 11, Milan, ITA, 20131
FinecoBank SpA is a FinTech bank based in Italy, offering its services through a network of personal financial advisors and online and mobile channels that operate in an integrated manner. The Group's offerings are divided into three product areas: Banking, Brokerage, and Investing. Maximum revenue is generated from Banking activities, which include current account services, payment services, and the issuance of debit, credit, and prepaid cards, mortgages, overdrafts, and personal loans. The Brokerage category offers order execution services on behalf of the customer, and trading access to CFDs, futures, options, bonds, ETFs, and certificates; and Investing includes the asset management activities of the Group, its investment advisory services, and various investment products offerings.
78GF Score

Get the complete analysis for MIL:FBK

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

€23.69
Price
€17.15
GF Value