Nederman Holding AB (OSTO:NMAN) 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.
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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:NMAN Nederman Holding AB OSTO:NMAN
81 GF Score
Price kr128.80
GF Value kr163.45
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Nederman Holding AB Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Nederman Holding AB  (OSTO:NMAN) 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.


Nederman Holding AB Cyclically Adjusted PB Ratio Related Terms


Nederman Holding AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Nederman 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.

Nederman Holding AB Cyclically Adjusted PB Ratio Chart

Nederman 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 6.82 4.32 3.89 4.22 3.05

Nederman Holding 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 3.38 3.02 3.13 2.51 2.31

OSTO:NMAN vs GEV, ETN, PH: Cyclically Adjusted PB Ratio Comparison

For the Specialty Industrial Machinery subindustry, Nederman 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.


Nederman Holding AB Cyclically Adjusted PB Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Nederman Holding AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


OSTO:NMAN
81GF Score
Nederman Holding AB OSTO:NMAN
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Nederman 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.

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

For example, Nederman Holding 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)
=73.303/134.6100*134.6100
=73.303

Current CPI (Jun. 2026) = 134.6100.

Nederman Holding AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 25.770 101.138 34.299
201612 28.002 102.022 36.947
201703 28.863 102.022 38.083
201706 27.834 102.752 36.464
201709 28.384 103.279 36.995
201712 30.659 103.793 39.762
201803 32.592 103.962 42.200
201806 33.093 104.875 42.476
201809 33.552 105.679 42.737
201812 35.194 105.912 44.730
201903 38.177 105.886 48.533
201906 37.711 106.742 47.557
201909 38.136 107.214 47.881
201912 39.381 107.766 49.191
202003 41.692 106.563 52.665
202006 38.230 107.498 47.872
202009 38.409 107.635 48.035
202012 37.067 108.296 46.074
202103 41.242 108.360 51.233
202106 42.644 108.928 52.698
202109 45.228 110.338 55.177
202112 48.938 112.486 58.563
202203 52.415 114.825 61.446
202206 53.991 118.384 61.391
202209 60.271 122.296 66.340
202212 62.306 126.365 66.371
202303 64.206 127.042 68.031
202306 67.844 129.407 70.572
202309 68.562 130.224 70.871
202312 67.568 131.912 68.950
202403 73.558 132.205 74.896
202406 71.678 132.716 72.701
202409 71.385 132.304 72.629
202412 77.419 132.987 78.364
202503 72.669 132.825 73.646
202506 70.292 133.699 70.771
202509 71.348 133.480 71.952
202512 71.627 133.380 72.288
202603 75.001 133.550 75.596
202606 73.303 134.610 73.303

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 Nederman Holding AB (OSTO:NMAN) Overvalued in 2026?

Based on GuruFocus' analysis, Nederman Holding AB stock appears to be undervalued. The current stock price of kr128.80 is trading 21.2% below its estimated GF Value™ of kr163.45. GuruFocus considers Nederman Holding AB to be Modestly Undervalued.

Key valuation signals for OSTO:NMAN:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: kr163.45 vs. price of kr128.80 (21.2% below fair value)
  • GF Score™: 81/100 with 2 warning signs

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


Nederman Holding AB Business Description

Other Exchanges 5QR:Germany
Address Landskronavagen 9A, Helsingborg, SWE, 252 32
Nederman Holding AB is an industrial equipment manufacturer. The company produces and markets products to improve the industrial workplace environment; owns and manages enterprises as well as real estate and personal property, and engages in compatible operations. Its operating segments are, Extraction and Filtration Technology, Process Technology, Duct and Filter Technology, and Monitoring and Control Technology. Key revenue is derived from the Extraction and Filter Technology segment, which develops and sells various filters and monitoring services, capturing devices, fans, high-vacuum products, and reels for the distribution of various liquids and compressed air. Geographically, it derives key revenue from the United States of America and has customers located around the world.
81GF Score

Get the complete analysis for OSTO:NMAN

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

kr128.80
Price
kr163.45
GF Value