EAM Solar AS (OSL:EAM) Cyclically Adjusted PB Ratio: 0.13 (As of Jul. 17, 2026) — 13% Below Median

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.

OSL:EAM EAM Solar AS OSL:EAM
28 GF Score
Price kr0.87
GF Value kr0.53
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is EAM Solar AS Cyclically Adjusted PB Ratio?

EAM Solar AS OSL:EAM -5.22% 28 Cyclically Adjusted PB Ratio is 0.13 as of Jul. 17, 2026, which is 13% below its 10-year median of 0.15. GuruFocus rates OSL:EAM with a GF Score™ of 28/100 and a GF Value™ of kr0.53 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 284 Utilities - Independent Power Producers companies, EAM Solar AS ranks better than 90.49% on this metric.

As of today (2026-07-17), EAM Solar AS's current share price is kr0.872. EAM Solar AS's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was kr6.46. EAM Solar AS's Cyclically Adjusted PB Ratio for today is 0.13.

The historical rank and industry rank for EAM Solar AS's Cyclically Adjusted PB Ratio or its related term are showing as below:

OSL:EAM' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.03   Med: 0.15   Max: 1
Current: 0.17

During the past years, EAM Solar AS's highest Cyclically Adjusted PB Ratio was 1.00. The lowest was 0.03. And the median was 0.15.

OSL:EAM's Cyclically Adjusted PB Ratio is ranked better than
90.49% of 284 companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.13 vs OSL:EAM: 0.17

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

EAM Solar AS's adjusted book value per share data for the three months ended in Mar. 2026 was kr0.688. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is kr6.46 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


EAM Solar AS  (OSL:EAM) 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.


EAM Solar AS Cyclically Adjusted PB Ratio Related Terms


EAM Solar AS Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for EAM Solar AS'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.

EAM Solar AS Cyclically Adjusted PB Ratio Chart

EAM Solar AS 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 0.19 0.12 0.59 0.10 0.07

EAM Solar AS 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 0.55 0.14 0.10 0.07 0.11

EAM Solar AS Cyclically Adjusted PB Ratio Competitor Comparison

For the Utilities - Renewable subindustry, EAM Solar AS'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.


EAM Solar AS Cyclically Adjusted PB Ratio vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, EAM Solar AS's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


OSL:EAM
28GF Score
EAM Solar AS OSL:EAM
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

EAM Solar AS 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.

EAM Solar AS's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.872/6.46
=0.13

* 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.

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

For example, EAM Solar AS'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)
=0.688/141.0300*141.0300
=0.688

Current CPI (Mar. 2026) = 141.0300.

EAM Solar AS Quarterly Data

Book Value per Share CPI Adj_Book
201606 -42.043 103.800 -57.123
201609 15.899 104.200 21.519
201612 14.742 104.400 19.914
201703 12.792 105.000 17.181
201706 14.141 105.800 18.850
201709 10.622 105.900 14.146
201712 11.196 106.100 14.882
201803 10.040 107.300 13.196
201806 9.303 108.500 12.092
201809 9.735 109.500 12.538
201812 9.429 109.800 12.111
201903 8.789 110.400 11.227
201906 8.601 110.600 10.967
201909 9.833 111.100 12.482
201912 9.013 111.300 11.421
202003 8.776 111.200 11.130
202006 8.487 112.100 10.677
202009 9.036 112.900 11.287
202012 8.408 112.900 10.503
202103 7.653 114.600 9.418
202106 7.154 115.300 8.750
202109 6.559 117.500 7.872
202112 5.639 118.900 6.689
202203 5.062 119.800 5.959
202206 4.814 122.600 5.538
202209 4.613 125.600 5.180
202212 3.321 125.900 3.720
202303 3.077 127.600 3.401
202306 2.498 130.400 2.702
202309 2.135 129.800 2.320
202312 1.660 131.900 1.775
202403 1.493 132.600 1.588
202406 1.020 133.800 1.075
202409 0.877 133.700 0.925
202412 0.466 134.800 0.488
202503 0.318 136.100 0.330
202506 0.423 137.800 0.433
202509 0.421 138.500 0.429
202512 0.235 139.100 0.238
202603 0.688 141.030 0.688

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.

What does a Cyclically Adjusted PB Ratio of 0.13 mean?
EAM Solar AS (OSL:EAM) has a Cyclically Adjusted PB Ratio of 0.13 as of Jul. 17, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on EAM Solar AS and its competitors. This is 13% below median its historical median of 0.15. Over the past decade, EAM Solar AS's Cyclically Adjusted PB Ratio has ranged from 0.03 to 1.00. According to the industry distribution chart, EAM Solar AS ranks #27 out of 284 companies in the Utilities - Independent Power Producers industry, placing it in the top 9.5%.
Is EAM Solar AS's Cyclically Adjusted PB Ratio too high?
EAM Solar AS's current Cyclically Adjusted PB Ratio of 0.13 is 13% below median its 10-year median of 0.15. Over the past 10 years, this metric has ranged from a low of 0.03 to a high of 1.00. The Utilities - Independent Power Producers industry median Cyclically Adjusted PB Ratio is 1.13. EAM Solar AS's value of 0.13 is 88.5% below this industry median. Based on the distribution chart, EAM Solar AS ranks #27 out of 284 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, EAM Solar AS has a GF Score™ of 28/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does EAM Solar AS's Cyclically Adjusted PB Ratio compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, EAM Solar AS ranks #27 out of 284 companies for Cyclically Adjusted PB Ratio. This places EAM Solar AS in the top 10% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.13. EAM Solar AS's value of 0.13 is 88.5% below this benchmark. Historically, EAM Solar AS's own Cyclically Adjusted PB Ratio has ranged from 0.03 to 1.00 over the past decade. While the company's 10-year median is 0.15 vs. the industry median of 1.13, EAM Solar AS has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Utilities - Independent Power Producers company?
The median Cyclically Adjusted PB Ratio among Utilities - Independent Power Producers companies is 1.13, based on 284 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. EAM Solar AS's current Cyclically Adjusted PB Ratio of 0.13 is 88.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on EAM Solar AS and its competitors. For the Utilities - Independent Power Producers industry, the median Cyclically Adjusted PB Ratio is 1.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. EAM Solar AS's current Cyclically Adjusted PB Ratio is 0.13, which is 13% below median its own 10-year median of 0.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EAM Solar AS stock overvalued right now?
Based on GuruFocus' analysis, EAM Solar AS (OSL:EAM) is currently considered Significantly Overvalued. The stock's GF Value™ is kr0.53, compared to a current price of kr0.87 — trading 64.5% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.13, which is 13% below median its 10-year median of 0.15 and 88.5% below the Utilities - Independent Power Producers industry median of 1.13. EAM Solar AS's overall GF Score™ is 28/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For EAM Solar AS (OSL:EAM), the current Cyclically Adjusted PB Ratio is 0.13 as of Jul. 17, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is EAM Solar AS (OSL:EAM) Overvalued in 2026?

Based on GuruFocus' analysis, EAM Solar AS stock appears to be overvalued. The current stock price of kr0.87 is trading 64.5% above its estimated GF Value™ of kr0.53. GuruFocus considers EAM Solar AS to be Significantly Overvalued.

Key valuation signals for OSL:EAM:

  • Cyclically Adjusted PB Ratio: 0.13 (13% below median its 10-year median of 0.15)
  • GF Value™: kr0.53 vs. price of kr0.87 (64.5% above fair value)
  • GF Score™: 28/100 with 6 warning signs
  • Industry Position: 88.5% below the Utilities - Independent Power Producers median (#27 of 284)

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


EAM Solar AS Business Description

Other Exchanges 0QDW:UKEA20:Germany
Address Karenslyst Alle 10, Oslo, NOR, 0278
EAM Solar AS primary business is to own solar PV power plants and sell electricity under long-term fixed-price sales contracts, and to pursue legal proceedings to restore company values. The Company's primary assets include four solar PV power plants in Italy, in the regions of Apulia and Basilicata in Southern Italy.
28GF Score

Get the complete analysis for OSL:EAM

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

kr0.87
Price
kr0.53
GF Value