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Norske Skog ASAOSL:NSKOG +0.56%69 Cyclically Adjusted PB Ratio is 0.83 as of Sep. 17, 2026, which is 30% below its 10-year median of 1.18. GuruFocus rates OSL:NSKOG with a GF Score™ of 69/100 and a GF Value™ of kr34.11 (Significantly Overvalued). The stock has 13 warning signs investors should review. Among 206 Forest Products companies, Norske Skog ASA ranks worse than 63.59% on this metric.
The historical rank and industry rank for Norske Skog ASA's Cyclically Adjusted PB Ratio or its related term are showing as below:
OSL:NSKOG'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.32 Med: 1.18 Max: 2.88
Current: 1.03
During the past 11 years, Norske Skog ASA's highest Cyclically Adjusted PB Ratio was 2.88. The lowest was 0.32. And the median was 1.18.
OSL:NSKOG's Cyclically Adjusted PB Ratio is ranked worse than 63.59% of 206
companies
in the Forest Products industry
Industry Median: 0.74
vs OSL:NSKOG: 1.03
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.
Norske Skog ASA's adjusted book value per share data of for the fiscal year that ended in Dec25 was kr68.589. 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 kr64.30 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Norske Skog ASA (OSL:NSKOG) 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.
Norske Skog ASA Cyclically Adjusted PB Ratio Related Terms
Norske Skog ASA Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Norske Skog 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.
Norske Skog ASA Cyclically Adjusted PB Ratio Chart
OSL:NSKOG vs SLVM: Cyclically Adjusted PB Ratio Comparison
For the Paper & Paper Products subindustry, Norske Skog 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.
Norske Skog ASA Cyclically Adjusted PB Ratio vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Norske Skog ASA's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Norske Skog ASA's Cyclically Adjusted PB Ratio falls into.
Norske Skog 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.
Norske Skog ASA's Cyclically Adjusted PB Ratio for today is calculated as
* 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.
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 0.83 mean?
Norske Skog ASA (OSL:NSKOG) has a Cyclically Adjusted PB Ratio of 0.83 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 Norske Skog ASA and its competitors. This is 30% below median its historical median of 1.18. Over the past decade, Norske Skog ASA's Cyclically Adjusted PB Ratio has ranged from 0.32 to 2.88. According to the industry distribution chart, Norske Skog ASA ranks #131 out of 206 companies in the Forest Products industry, placing it in the top 63.6%.
Is Norske Skog ASA's Cyclically Adjusted PB Ratio too high?
Norske Skog ASA's current Cyclically Adjusted PB Ratio of 0.83 is 30% below median its 10-year median of 1.18. Over the past 10 years, this metric has ranged from a low of 0.32 to a high of 2.88. The Forest Products industry median Cyclically Adjusted PB Ratio is 0.74. Norske Skog ASA's value of 0.83 is 12.2% above this industry median. Based on the distribution chart, Norske Skog ASA ranks #131 out of 206 companies in the Forest Products industry, which is below the industry midpoint. Overall, Norske Skog ASA has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Norske Skog ASA's Cyclically Adjusted PB Ratio compare to SLVM?
According to the Forest Products industry distribution chart, Norske Skog ASA ranks #131 out of 206 companies for Cyclically Adjusted PB Ratio. This places Norske Skog ASA in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.74. Norske Skog ASA's value of 0.83 is 12.2% above this benchmark. Historically, Norske Skog ASA's own Cyclically Adjusted PB Ratio has ranged from 0.32 to 2.88 over the past decade. While the company's 10-year median is 1.18 vs. the industry median of 0.74, Norske Skog ASA has consistently been above 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 a Forest Products company?
The median Cyclically Adjusted PB Ratio among Forest Products companies is 0.74, based on 206 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. Norske Skog ASA's current Cyclically Adjusted PB Ratio of 0.83 is 12.2% 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 Norske Skog ASA and its competitors. For the Forest Products industry, the median Cyclically Adjusted PB Ratio is 0.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norske Skog ASA's current Cyclically Adjusted PB Ratio is 0.83, which is 30% below median its own 10-year median of 1.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norske Skog ASA stock overvalued right now?
Based on GuruFocus' analysis, Norske Skog ASA (OSL:NSKOG) is currently considered Significantly Overvalued. The stock's GF Value™ is kr34.11, compared to a current price of kr53.40 — trading 56.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.83, which is 30% below median its 10-year median of 1.18 and 12.2% above the Forest Products industry median of 0.74. Norske Skog ASA's overall GF Score™ is 69/100 with 13 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 Norske Skog ASA (OSL:NSKOG), the current Cyclically Adjusted PB Ratio is 0.83 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 Norske Skog ASA (OSL:NSKOG) Overvalued in 2026?
Based on GuruFocus' analysis, Norske Skog ASA stock appears to be overvalued.
The current stock price of kr53.40 is trading 56.6% above its estimated GF Value™ of kr34.11.
GuruFocus considers Norske Skog ASA to be Significantly Overvalued.
Key valuation signals for OSL:NSKOG:
Cyclically Adjusted PB Ratio: 0.83 (30% below median its 10-year median of 1.18)
GF Value™: kr34.11 vs. price of kr53.40 (56.6% above fair value)
Industry Position: 12.2% above the Forest Products median (#131 of 206)
No single metric tells the full story. See the OSL:NSKOG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Norske Skog ASA is a European company focused on the production of publication and packaging paper. The publication paper includes the production and sale of newsprint and magazine paper under the NOR brands. Packaging paper includes the production and sale of recycled containerboard under the Strato brand. Its product portfolio includes publication paper, recycled packaging paper, energy, and bioproducts. The company's core bioproducts are the nanocellulose product CEBINA and the bio-composite product CEBICO. Its reportable segments are Publication paper, Packaging paper, and Other activities. The majority of revenue is derived from the Publication paper segment. Geographically, the company generates the maximum revenue from Europe.
69GF Score
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