Morrow Bank AB (OSTO:MORROW) 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.

OSTO:MORROW Morrow Bank AB OSTO:MORROW
56 GF Score
Price kr15.90
GF Value kr6.71
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Morrow Bank AB Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Morrow Bank AB  (OSTO:MORROW) 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.


Morrow Bank AB Cyclically Adjusted PB Ratio Related Terms


Morrow Bank AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Morrow Bank AB'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.

Morrow Bank AB Cyclically Adjusted PB Ratio Chart

Morrow Bank AB 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 - - 0.61 0.56 0.53

Morrow Bank AB 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 0.56 0.55 0.54 1.22 1.14

OSTO:MORROW vs USB, PNC: Cyclically Adjusted PB Ratio Comparison

For the Banks - Regional subindustry, Morrow Bank AB'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.


Morrow Bank AB Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Morrow Bank AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Morrow Bank AB's Cyclically Adjusted PB Ratio falls into.


OSTO:MORROW
56GF Score
Morrow Bank AB OSTO:MORROW
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Morrow Bank AB 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.

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

For example, Morrow Bank AB'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)
=10.217/134.6100*134.6100
=10.217

Current CPI (Jun. 2026) = 134.6100.

Morrow Bank AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 4.441 101.138 5.911
201612 4.703 102.022 6.205
201703 4.999 102.022 6.596
201706 5.238 102.752 6.862
201709 5.977 103.279 7.790
201712 7.788 103.793 10.100
201803 8.026 103.962 10.392
201806 8.790 104.875 11.282
201809 9.223 105.679 11.748
201812 9.175 105.912 11.661
201903 9.716 105.886 12.352
201906 10.174 106.742 12.830
201909 10.576 107.214 13.278
201912 10.261 107.766 12.817
202003 9.319 106.563 11.772
202006 9.804 107.498 12.277
202009 10.049 107.635 12.567
202012 10.399 108.296 12.926
202103 11.371 108.360 14.126
202106 10.910 108.928 13.482
202109 9.111 110.338 11.115
202112 9.512 112.486 11.383
202203 10.040 114.825 11.770
202206 9.964 118.384 11.330
202209 9.850 122.296 10.842
202212 9.715 126.365 10.349
202303 8.911 127.042 9.442
202306 8.726 129.407 9.077
202309 8.972 130.224 9.274
202312 8.839 131.912 9.020
202403 8.943 132.205 9.106
202406 9.205 132.716 9.336
202409 9.102 132.304 9.261
202412 9.432 132.987 9.547
202503 9.446 132.825 9.573
202506 9.207 133.699 9.270
202509 9.483 133.480 9.563
202512 9.480 133.380 9.567
202603 9.721 133.550 9.798
202606 10.217 134.610 10.217

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 Morrow Bank AB (OSTO:MORROW) Overvalued in 2026?

Based on GuruFocus' analysis, Morrow Bank AB stock appears to be overvalued. The current stock price of kr15.90 is trading 137% above its estimated GF Value™ of kr6.71. GuruFocus considers Morrow Bank AB to be Significantly Overvalued.

Key valuation signals for OSTO:MORROW:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: kr6.71 vs. price of kr15.90 (137% above fair value)
  • GF Score™: 56/100 with 5 warning signs

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


Morrow Bank AB Business Description

Other Exchanges KBN0:Germany
Address Torsgatan 13, Stockholm, SWE, 111 23
Morrow Bank AB is a Swedish bank offering convenient payment and financing products to consumers. It is a focused Nordic digital niche bank offering personal loans, credit cards, deposit accounts, and online point-of-sales finance products to consumers.
56GF Score

Get the complete analysis for OSTO:MORROW

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

kr15.90
Price
kr6.71
GF Value