Multiconsult ASA (OSL:MULTI) Cyclically Adjusted PB Ratio: (As of Sep. 20, 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.

OSL:MULTI Multiconsult ASA OSL:MULTI
89 GF Score
Price kr147.00
GF Value kr172.41
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Multiconsult ASA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Multiconsult ASA  (OSL:MULTI) 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.


Multiconsult ASA Cyclically Adjusted PB Ratio Related Terms


Multiconsult ASA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Multiconsult ASA'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.

Multiconsult ASA Cyclically Adjusted PB Ratio Chart

Multiconsult ASA 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 4.94 4.36 3.89 6.27 5.00

Multiconsult ASA 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 6.44 5.25 5.19 4.61 4.00

OSL:MULTI vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Multiconsult ASA'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.


Multiconsult ASA Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Multiconsult ASA's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


OSL:MULTI
89GF Score
Multiconsult ASA OSL:MULTI
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Multiconsult ASA 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.

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

For example, Multiconsult ASA'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)
=45.994/141.6200*141.6200
=45.994

Current CPI (Jun. 2026) = 141.6200.

Multiconsult ASA Quarterly Data

Book Value per Share CPI Adj_Book
201609 13.794 104.200 18.748
201612 19.336 104.400 26.230
201703 22.198 105.000 29.940
201706 19.662 105.800 26.319
201709 21.755 105.900 29.093
201712 21.582 106.100 28.807
201803 22.089 107.300 29.154
201806 21.910 108.500 28.598
201809 21.967 109.500 28.411
201812 21.995 109.800 28.369
201903 23.936 110.400 30.705
201906 21.599 110.600 27.657
201909 21.938 111.100 27.965
201912 21.557 111.300 27.429
202003 25.470 111.200 32.438
202006 27.733 112.100 35.036
202009 29.053 112.900 36.444
202012 28.727 112.900 36.035
202103 30.673 114.600 37.905
202106 25.929 115.300 31.848
202109 29.501 117.500 35.557
202112 31.030 118.900 36.959
202203 35.222 119.800 41.637
202206 31.666 122.600 36.579
202209 33.318 125.600 37.568
202212 36.081 125.900 40.586
202303 41.647 127.600 46.223
202306 35.334 130.400 38.374
202309 35.015 129.800 38.204
202312 39.085 131.900 41.965
202403 42.787 132.600 45.698
202406 39.714 133.800 42.035
202409 41.938 133.700 44.422
202412 46.274 134.800 48.615
202503 50.594 136.100 52.646
202506 42.104 137.800 43.271
202509 41.371 138.500 42.303
202512 44.595 139.140 45.390
202603 47.743 141.060 47.933
202606 45.994 141.620 45.994

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 Multiconsult ASA (OSL:MULTI) Overvalued in 2026?

Based on GuruFocus' analysis, Multiconsult ASA stock appears to be undervalued. The current stock price of kr147.00 is trading 14.7% below its estimated GF Value™ of kr172.41. GuruFocus considers Multiconsult ASA to be Modestly Undervalued.

Key valuation signals for OSL:MULTI:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: kr172.41 vs. price of kr147.00 (14.7% below fair value)
  • GF Score™: 89/100 with 3 warning signs

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


Multiconsult ASA Business Description

Address Nedre Skoyen vei 2, Oslo, NOR, 0276
Multiconsult ASA is a specialist in engineering design, consultancy, and architecture services, providing multidisciplinary consultancy, design, planning, project supervision, project management, geotechnical site surveys, verification, and controls in Norway and abroad, with engineering services in Norway, Sweden, and Poland, and architecture services in Scandinavian countries. The group operates through three segments: Norway, which contributes maximum revenue and provides consulting engineering services; Architecture, comprising LINK Arkitektur and A-lab; and International, comprising Multiconsult Polska and Iterio. Its operations cover four business areas: Building & Properties, Mobility & Transportation, Energy & Industry, and Water & Environment.
89GF Score

Get the complete analysis for OSL:MULTI

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

kr147.00
Price
kr172.41
GF Value