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NorAm Drilling AS (OSL:NORAM) 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.
NorAm Drilling AS Cyclically Adjusted PB Ratio Related Terms
NorAm Drilling AS Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for NorAm Drilling 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.
NorAm Drilling AS Cyclically Adjusted PB Ratio Chart
OSL:NORAM vs SLB, BKR, HAL: Cyclically Adjusted PB Ratio Comparison
For the Oil & Gas Equipment & Services subindustry, NorAm Drilling 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.
NorAm Drilling AS Cyclically Adjusted PB Ratio vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NorAm Drilling AS's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where NorAm Drilling AS's Cyclically Adjusted PB Ratio falls into.
NorAm Drilling 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.
NorAm Drilling AS does not have a history long enough to calculate Cyclically Adjusted Book per Share. Therefore GuruFocus does not calculate Cyclically Adjusted PB Ratio for this company.
What does a Cyclically Adjusted PB Ratio of 1.99 mean?
NorAm Drilling AS (OSL:NORAM) has a Cyclically Adjusted PB Ratio of 1.99 as of Sep. 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 NorAm Drilling AS and its competitors. According to the industry distribution chart, NorAm Drilling AS ranks #999999 out of 754 companies in the Oil & Gas industry.
Is NorAm Drilling AS's Cyclically Adjusted PB Ratio too high?
NorAm Drilling AS's current Cyclically Adjusted PB Ratio is 1.99. The Oil & Gas industry median Cyclically Adjusted PB Ratio is 1.27. NorAm Drilling AS's value of 1.99 is 57.3% above this industry median. Based on the distribution chart, NorAm Drilling AS ranks #999999 out of 754 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, NorAm Drilling AS has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NorAm Drilling AS's Cyclically Adjusted PB Ratio compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, NorAm Drilling AS ranks #999999 out of 754 companies for Cyclically Adjusted PB Ratio. This places NorAm Drilling AS in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.27. NorAm Drilling AS's value of 1.99 is 57.3% above this benchmark. 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 Oil & Gas company?
The median Cyclically Adjusted PB Ratio among Oil & Gas companies is 1.27, based on 754 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. NorAm Drilling AS's current Cyclically Adjusted PB Ratio of 1.99 is 57.3% above 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 NorAm Drilling AS and its competitors. For the Oil & Gas industry, the median Cyclically Adjusted PB Ratio is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NorAm Drilling AS's current Cyclically Adjusted PB Ratio is 1.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NorAm Drilling AS stock overvalued right now?
Based on GuruFocus' analysis, NorAm Drilling AS (OSL:NORAM) is currently considered Significantly Overvalued. The stock's GF Value™ is kr34.23, compared to a current price of kr47.20 — trading 37.9% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.99 and 57.3% above the Oil & Gas industry median of 1.27. NorAm Drilling AS's overall GF Score™ is 85/100 with 3 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 NorAm Drilling AS (OSL:NORAM), the current Cyclically Adjusted PB Ratio is 1.99 as of Sep. 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 NorAm Drilling AS (OSL:NORAM) Overvalued in 2026?
Based on GuruFocus' analysis, NorAm Drilling AS stock appears to be overvalued.
The current stock price of kr47.20 is trading 37.9% above its estimated GF Value™ of kr34.23.
GuruFocus considers NorAm Drilling AS to be Significantly Overvalued.
Key valuation signals for OSL:NORAM:
Cyclically Adjusted PB Ratio: 1.99
GF Value™: kr34.23 vs. price of kr47.20 (37.9% above fair value)
Industry Position: 57.3% above the Oil & Gas median (#999999 of 754)
No single metric tells the full story. See the OSL:NORAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NorAm Drilling AS owns and operates a quality rig portfolio of super spec developed high-end AC driven rigs tailored for the drilling of horizontal wells in the USA land drilling market. These rigs are designed to combine the cost efficiency of a compact rig with the versatility of different rig classes, enabling the rigs to cover a broad range of wells for both liquids and gas. The group's operating segments are NorAm Drilling Company, which derives maximum revenue, and NorAm Drilling AS.
85GF Score
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