Arctic Paper (OSTO:ARP) Cyclically Adjusted PB Ratio: 0.35 (As of Jul. 27, 2026) — 51% 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.

OSTO:ARP Arctic Paper SA OSTO:ARP
54 GF Score
Price kr15.67
GF Value kr35.88
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Arctic Paper Cyclically Adjusted PB Ratio?

Arctic Paper OSTO:ARP +1.53% 54 Cyclically Adjusted PB Ratio is 0.35 as of Jul. 27, 2026, which is 51% below its 10-year median of 0.72. GuruFocus rates OSTO:ARP with a GF Score™ of 54/100 and a GF Value™ of kr35.88 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 244 Forest Products companies, Arctic Paper ranks better than 75.82% on this metric.

As of today (2026-07-27), Arctic Paper's current share price is kr15.668. Arctic Paper's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was kr44.98. Arctic Paper's Cyclically Adjusted PB Ratio for today is 0.35.

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

OSTO:ARP' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.26   Med: 0.72   Max: 1.99
Current: 0.34

During the past years, Arctic Paper's highest Cyclically Adjusted PB Ratio was 1.99. The lowest was 0.26. And the median was 0.72.

OSTO:ARP's Cyclically Adjusted PB Ratio is ranked better than
75.82% of 244 companies
in the Forest Products industry
Industry Median: 0.745 vs OSTO:ARP: 0.34

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.

Arctic Paper's adjusted book value per share data for the three months ended in Mar. 2026 was kr50.089. 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 kr44.98 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Arctic Paper  (OSTO:ARP) 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.


Arctic Paper Cyclically Adjusted PB Ratio Related Terms


Arctic Paper Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Arctic Paper'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.

Arctic Paper Cyclically Adjusted PB Ratio Chart

Arctic Paper 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 0.81 1.57 1.58 0.99 0.48

Arctic Paper 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 0.97 0.66 0.50 0.48 0.44

OSTO:ARP vs SLVM: Cyclically Adjusted PB Ratio Comparison

For the Paper & Paper Products subindustry, Arctic Paper'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.


Arctic Paper Cyclically Adjusted PB Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Arctic Paper's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


OSTO:ARP
54GF Score
Arctic Paper SA OSTO:ARP
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Arctic Paper 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.

Arctic Paper's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=15.668/44.98
=0.35

* 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.

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

For example, Arctic Paper'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)
=50.089/163.0700*163.0700
=50.089

Current CPI (Mar. 2026) = 163.0700.

Arctic Paper Quarterly Data

Book Value per Share CPI Adj_Book
201606 18.024 99.552 29.524
201609 18.853 99.064 31.034
201612 19.730 100.366 32.056
201703 19.279 101.018 31.122
201706 19.425 101.180 31.307
201709 20.675 101.343 33.268
201712 19.944 102.564 31.710
201803 20.708 102.564 32.924
201806 21.276 103.378 33.561
201809 22.018 103.378 34.731
201812 20.932 103.785 32.889
201903 20.430 104.274 31.950
201906 21.274 105.983 32.733
201909 22.421 105.983 34.498
201912 22.030 107.123 33.536
202003 22.039 109.076 32.949
202006 23.698 109.402 35.323
202009 25.606 109.320 38.196
202012 27.224 109.565 40.519
202103 27.953 112.658 40.461
202106 28.158 113.960 40.292
202109 30.574 115.588 43.133
202112 33.110 119.088 45.338
202203 38.807 125.031 50.614
202206 50.481 131.705 62.503
202209 61.979 135.531 74.573
202212 57.630 139.113 67.555
202303 57.663 145.950 64.427
202306 49.084 147.009 54.447
202309 50.927 146.113 56.837
202312 52.396 147.741 57.832
202403 52.997 149.044 57.985
202406 51.654 150.997 55.784
202409 52.741 153.439 56.051
202412 52.826 154.660 55.698
202503 53.252 157.021 55.304
202506 51.418 157.509 53.233
202509 52.059 158.000 53.730
202512 51.382 158.320 52.924
202603 50.089 163.070 50.089

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 0.35 mean?
Arctic Paper (OSTO:ARP) has a Cyclically Adjusted PB Ratio of 0.35 as of Jul. 27, 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 Arctic Paper and its competitors. This is 51% below median its historical median of 0.72. Over the past decade, Arctic Paper's Cyclically Adjusted PB Ratio has ranged from 0.26 to 1.99. According to the industry distribution chart, Arctic Paper ranks #59 out of 244 companies in the Forest Products industry, placing it in the top 24.2%.
Is Arctic Paper's Cyclically Adjusted PB Ratio too high?
Arctic Paper's current Cyclically Adjusted PB Ratio of 0.35 is 51% below median its 10-year median of 0.72. Over the past 10 years, this metric has ranged from a low of 0.26 to a high of 1.99. The Forest Products industry median Cyclically Adjusted PB Ratio is 0.75. Arctic Paper's value of 0.35 is 53% below this industry median. Based on the distribution chart, Arctic Paper ranks #59 out of 244 companies in the Forest Products industry, which is in the top quartile — a strong position relative to peers. Overall, Arctic Paper has a GF Score™ of 54/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Arctic Paper's Cyclically Adjusted PB Ratio compare to SLVM?
According to the Forest Products industry distribution chart, Arctic Paper ranks #59 out of 244 companies for Cyclically Adjusted PB Ratio. This places Arctic Paper in the top 24% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 0.75. Arctic Paper's value of 0.35 is 53% below this benchmark. Historically, Arctic Paper's own Cyclically Adjusted PB Ratio has ranged from 0.26 to 1.99 over the past decade. While the company's 10-year median is 0.72 vs. the industry median of 0.75, Arctic Paper 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 a Forest Products company?
The median Cyclically Adjusted PB Ratio among Forest Products companies is 0.75, based on 244 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. Arctic Paper's current Cyclically Adjusted PB Ratio of 0.35 is 53% 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 Arctic Paper and its competitors. For the Forest Products industry, the median Cyclically Adjusted PB Ratio is 0.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Arctic Paper's current Cyclically Adjusted PB Ratio is 0.35, which is 51% below median its own 10-year median of 0.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arctic Paper stock overvalued right now?
Based on GuruFocus' analysis, Arctic Paper (OSTO:ARP) is currently considered Possible Value Trap. The stock's GF Value™ is kr35.88, compared to a current price of kr15.67 — trading 56.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.35, which is 51% below median its 10-year median of 0.72 and 53% below the Forest Products industry median of 0.75. Arctic Paper's overall GF Score™ is 54/100 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 Arctic Paper (OSTO:ARP), the current Cyclically Adjusted PB Ratio is 0.35 as of Jul. 27, 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 Arctic Paper (OSTO:ARP) Overvalued in 2026?

Based on GuruFocus' analysis, Arctic Paper stock appears to be undervalued. The current stock price of kr15.67 is trading 56.3% below its estimated GF Value™ of kr35.88. GuruFocus considers Arctic Paper to be Possible Value Trap.

Key valuation signals for OSTO:ARP:

  • Cyclically Adjusted PB Ratio: 0.35 (51% below median its 10-year median of 0.72)
  • GF Value™: kr35.88 vs. price of kr15.67 (56.3% below fair value)
  • GF Score™: 54/100 with 6 warning signs
  • Industry Position: 53% below the Forest Products median (#59 of 244)

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


Arctic Paper Business Description

Other Exchanges ATC:PolandA0P:Germany
Address UL. Fabryczna 1, Kostrzyn nad Odra, Lubuskie, POL, 66470
Arctic Paper SA produces a volume of bulky book paper and produces high-quality graphic paper in Europe. The group produces numerous types of uncoated and coated wood-free paper as well as wood-containing uncoated paper for printing houses, paper distributors, book and magazine publishing houses, and the advertising industry. The company's segment includes Paper and Pulp. The firm derives maximum revenue from the Paper segment. The majority of revenue is generated from Uncoated segment. Geographically, the firm derives revenue from Germany, France, the UK, Scandinavia, Western Europe (other countries), Poland, Central and Eastern Europe (other than Poland), and Outside Europe.
54GF Score

Get the complete analysis for OSTO:ARP

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

kr15.67
Price
kr35.88
GF Value