Storebrand ASA (OSL:STB) Cyclically Adjusted PB Ratio: (As of Jul. 16, 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:STB Storebrand ASA OSL:STB
59 GF Score
Price kr198.80
GF Value kr170.47
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Storebrand ASA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Storebrand ASA  (OSL:STB) 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.


Storebrand ASA Cyclically Adjusted PB Ratio Related Terms


Storebrand ASA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Storebrand 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.

Storebrand ASA Cyclically Adjusted PB Ratio Chart

Storebrand 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 1.28 1.14 1.15 1.51 2.10

Storebrand 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 1.75 1.86 2.10 2.09 0.00

OSL:STB vs VOYA, FRHC: Cyclically Adjusted PB Ratio Comparison

For the Financial Conglomerates subindustry, Storebrand 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.


Storebrand ASA Cyclically Adjusted PB Ratio vs Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Storebrand ASA's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


OSL:STB
59GF Score
Storebrand ASA OSL:STB
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Storebrand 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.

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

For example, Storebrand 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)
=76.503/141.8500*141.8500
=76.503

Current CPI (Jun. 2026) = 141.8500.

Storebrand ASA Quarterly Data

Book Value per Share CPI Adj_Book
201609 60.061 104.200 81.763
201612 61.531 104.400 83.603
201703 62.802 105.000 84.843
201706 63.486 105.800 85.118
201709 64.671 105.900 86.625
201712 65.832 106.100 88.014
201803 66.492 107.300 87.902
201806 64.544 108.500 84.383
201809 65.661 109.500 85.059
201812 70.212 109.800 90.706
201903 71.019 110.400 91.250
201906 68.952 110.600 88.434
201909 69.894 111.100 89.239
201912 71.424 111.300 91.029
202003 72.877 111.200 92.964
202006 73.592 112.100 93.122
202009 75.263 112.900 94.562
202012 76.857 112.900 96.565
202103 77.471 114.600 95.892
202106 76.880 115.300 94.583
202109 78.137 117.500 94.330
202112 62.976 118.900 75.132
202203 81.721 119.800 96.762
202206 79.186 122.600 91.619
202209 80.288 125.600 90.676
202212 63.590 125.900 71.646
202303 65.244 127.600 72.530
202306 63.012 130.400 68.545
202309 63.974 129.800 69.913
202312 66.018 131.900 70.998
202403 67.565 132.600 72.278
202406 68.145 133.800 72.245
202409 70.307 133.700 74.593
202412 73.072 134.800 76.894
202503 74.812 136.100 77.973
202506 72.827 137.800 74.967
202509 75.388 138.500 77.211
202512 78.339 139.100 79.888
202603 79.728 141.030 80.192
202606 76.503 141.850 76.503

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 Storebrand ASA (OSL:STB) Overvalued in 2026?

Based on GuruFocus' analysis, Storebrand ASA stock appears to be overvalued. The current stock price of kr198.80 is trading 16.6% above its estimated GF Value™ of kr170.47. GuruFocus considers Storebrand ASA to be Modestly Overvalued.

Key valuation signals for OSL:STB:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: kr170.47 vs. price of kr198.80 (16.6% above fair value)
  • GF Score™: 59/100 with 5 warning signs

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


Storebrand ASA Business Description

Address Professor Kohts vei 9, P.O. Box 500, Lysaker, Oslo, NOR, 1327
Storebrand ASA is a Nordic long-term savings and insurance company. The business is divided into four segments Savings, Insurance, Guaranteed Pension, and Others. The Savings segment includes products for retirement savings with no interest rate guarantees which defined contribution pensions in Norway and Sweden, asset management, and retail banking products. The Insurance segment provides risk products in Norway and Sweden, it provides health, property and casualty, personal risk products, and others. The Guaranteed Pension business area encompasses long-term pension savings products that give customers a guaranteed rate of return. Other segment consists of other companies within the Storebrand Group, including smaller subsidiaries of Storebrand Livsforsikring and SPP.
59GF Score

Get the complete analysis for OSL:STB

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

kr198.80
Price
kr170.47
GF Value