Nicoccino Holding AB (OSTO:NICO) Cyclically Adjusted PB Ratio: 0.78 (As of Jul. 27, 2026) — 50% Above 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:NICO Nicoccino Holding AB OSTO:NICO
50 GF Score
Price kr1.17
GF Value kr5.27
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Nicoccino Holding AB Cyclically Adjusted PB Ratio?

Nicoccino Holding AB OSTO:NICO -2.50% 50 Cyclically Adjusted PB Ratio is 0.78 as of Jul. 27, 2026, which is 50% above its 10-year median of 0.52. GuruFocus rates OSTO:NICO with a GF Score™ of 50/100 and a GF Value™ of kr5.27 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 31 Tobacco Products companies, Nicoccino Holding AB ranks better than 83.87% on this metric.

As of today (2026-07-27), Nicoccino Holding AB's current share price is kr1.17. Nicoccino Holding AB's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was kr1.50. Nicoccino Holding AB's Cyclically Adjusted PB Ratio for today is 0.78.

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

OSTO:NICO' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.19   Med: 0.52   Max: 0.93
Current: 0.78

During the past years, Nicoccino Holding AB's highest Cyclically Adjusted PB Ratio was 0.93. The lowest was 0.19. And the median was 0.52.

OSTO:NICO's Cyclically Adjusted PB Ratio is ranked better than
83.87% of 31 companies
in the Tobacco Products industry
Industry Median: 2.69 vs OSTO:NICO: 0.78

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.

Nicoccino Holding AB's adjusted book value per share data for the three months ended in Mar. 2026 was kr0.118. 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 kr1.50 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Nicoccino Holding AB  (OSTO:NICO) 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.


Nicoccino Holding AB Cyclically Adjusted PB Ratio Related Terms


Nicoccino Holding AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Nicoccino Holding 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.

Nicoccino Holding AB Cyclically Adjusted PB Ratio Chart

Nicoccino Holding 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 0.00 0.00 0.63 0.43 0.53

Nicoccino Holding AB 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 0.71 0.49 0.48 0.53 0.67

OSTO:NICO vs PM, MO, TPB: Cyclically Adjusted PB Ratio Comparison

For the Tobacco subindustry, Nicoccino Holding 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.


Nicoccino Holding AB Cyclically Adjusted PB Ratio vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, Nicoccino Holding AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


OSTO:NICO
50GF Score
Nicoccino Holding AB OSTO:NICO
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nicoccino Holding 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.

Nicoccino Holding AB's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=1.17/1.50
=0.78

* 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.

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

For example, Nicoccino Holding AB'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)
=0.118/133.5600*133.5600
=0.118

Current CPI (Mar. 2026) = 133.5600.

Nicoccino Holding AB Quarterly Data

Book Value per Share CPI Adj_Book
201606 9.020 101.019 11.926
201609 8.712 101.138 11.505
201612 1.596 102.022 2.089
201703 1.450 102.022 1.898
201706 1.367 102.752 1.777
201709 1.299 103.279 1.680
201712 1.176 103.793 1.513
201803 1.102 103.962 1.416
201806 0.997 104.875 1.270
201809 0.955 105.679 1.207
201812 0.901 105.912 1.136
201903 0.812 105.886 1.024
201906 0.729 106.742 0.912
201909 0.659 107.214 0.821
201912 0.587 107.766 0.728
202003 0.472 106.563 0.592
202006 0.408 107.498 0.507
202009 0.322 107.635 0.400
202012 1.108 108.296 1.366
202103 1.039 108.360 1.281
202106 0.969 108.928 1.188
202109 0.906 110.338 1.097
202112 0.839 112.486 0.996
202203 0.730 114.825 0.849
202206 1.067 118.384 1.204
202209 1.014 122.296 1.107
202212 0.935 126.365 0.988
202303 0.845 127.042 0.888
202306 0.811 129.407 0.837
202309 0.872 130.224 0.894
202312 0.802 131.912 0.812
202403 0.735 132.205 0.743
202406 0.643 132.716 0.647
202409 0.579 132.304 0.584
202412 0.525 132.987 0.527
202503 0.462 132.825 0.465
202506 0.335 133.699 0.335
202509 0.282 133.480 0.282
202512 0.192 133.390 0.192
202603 0.118 133.560 0.118

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 0.78 mean?
Nicoccino Holding AB (OSTO:NICO) has a Cyclically Adjusted PB Ratio of 0.78 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 Nicoccino Holding AB and its competitors. This is 50% above median its historical median of 0.52. Over the past decade, Nicoccino Holding AB's Cyclically Adjusted PB Ratio has ranged from 0.19 to 0.93. According to the industry distribution chart, Nicoccino Holding AB ranks #5 out of 31 companies in the Tobacco Products industry, placing it in the top 16.1%.
Is Nicoccino Holding AB's Cyclically Adjusted PB Ratio too high?
Nicoccino Holding AB's current Cyclically Adjusted PB Ratio of 0.78 is 50% above median its 10-year median of 0.52. Over the past 10 years, this metric has ranged from a low of 0.19 to a high of 0.93. The Tobacco Products industry median Cyclically Adjusted PB Ratio is 2.69. Nicoccino Holding AB's value of 0.78 is 71% below this industry median. Based on the distribution chart, Nicoccino Holding AB ranks #5 out of 31 companies in the Tobacco Products industry, which is in the top quartile — a strong position relative to peers. Overall, Nicoccino Holding AB has a GF Score™ of 50/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Nicoccino Holding AB's Cyclically Adjusted PB Ratio compare to PM and MO?
According to the Tobacco Products industry distribution chart, Nicoccino Holding AB ranks #5 out of 31 companies for Cyclically Adjusted PB Ratio. This places Nicoccino Holding AB in the top 16% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 2.69. Nicoccino Holding AB's value of 0.78 is 71% below this benchmark. Historically, Nicoccino Holding AB's own Cyclically Adjusted PB Ratio has ranged from 0.19 to 0.93 over the past decade. While the company's 10-year median is 0.52 vs. the industry median of 2.69, Nicoccino Holding AB 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 Tobacco Products company?
The median Cyclically Adjusted PB Ratio among Tobacco Products companies is 2.69, based on 31 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. Nicoccino Holding AB's current Cyclically Adjusted PB Ratio of 0.78 is 71% 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 Nicoccino Holding AB and its competitors. For the Tobacco Products industry, the median Cyclically Adjusted PB Ratio is 2.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nicoccino Holding AB's current Cyclically Adjusted PB Ratio is 0.78, which is 50% above median its own 10-year median of 0.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nicoccino Holding AB stock overvalued right now?
Based on GuruFocus' analysis, Nicoccino Holding AB (OSTO:NICO) is currently considered Possible Value Trap. The stock's GF Value™ is kr5.27, compared to a current price of kr1.17 — trading 77.8% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.78, which is 50% above median its 10-year median of 0.52 and 71% below the Tobacco Products industry median of 2.69. Nicoccino Holding AB's overall GF Score™ is 50/100 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 Nicoccino Holding AB (OSTO:NICO), the current Cyclically Adjusted PB Ratio is 0.78 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 Nicoccino Holding AB (OSTO:NICO) Overvalued in 2026?

Based on GuruFocus' analysis, Nicoccino Holding AB stock appears to be undervalued. The current stock price of kr1.17 is trading 77.8% below its estimated GF Value™ of kr5.27. GuruFocus considers Nicoccino Holding AB to be Possible Value Trap.

Key valuation signals for OSTO:NICO:

  • Cyclically Adjusted PB Ratio: 0.78 (50% above median its 10-year median of 0.52)
  • GF Value™: kr5.27 vs. price of kr1.17 (77.8% below fair value)
  • GF Score™: 50/100 with 6 warning signs
  • Industry Position: 71% below the Tobacco Products median (#5 of 31)

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


Nicoccino Holding AB Business Description

Address Lahallsvagen 48, Taby, SWE, 183 30
Nicoccino Holding AB is a Sweden based company which has developed and patented a nicotine product free from tobacco. It offers a strip that through its delivery method provides the user with nicotine without the side effects of smoking. The product is designed to offer smokers an alternative to quit smoking.
50GF Score

Get the complete analysis for OSTO:NICO

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

kr1.17
Price
kr5.27
GF Value