Orkla ASA (OSTO:ORKO) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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:ORKO Orkla ASA OSTO:ORKO
84 GF Score
Price kr89.75
GF Value kr106.87
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Orkla ASA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Orkla ASA  (OSTO:ORKo) 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.


Orkla ASA Cyclically Adjusted PB Ratio Related Terms


Orkla ASA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Orkla 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.

Orkla ASA Cyclically Adjusted PB Ratio Chart

Orkla 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 2.31 1.73 1.83 2.20 2.39

Orkla 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 2.38 2.25 2.43 2.52 2.23

OSTO:ORKO vs KHC, GIS, MKC: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, Orkla 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.


Orkla ASA Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Orkla ASA's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


OSTO:ORKO
84GF Score
Orkla ASA OSTO:ORKO
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Orkla 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.

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

For example, Orkla 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)
=47.286/141.6200*141.6200
=47.286

Current CPI (Jun. 2026) = 141.6200.

Orkla ASA Quarterly Data

Book Value per Share CPI Adj_Book
201609 31.968 104.200 43.448
201612 33.286 104.400 45.153
201703 34.541 105.000 46.588
201706 33.444 105.800 44.767
201709 37.342 105.900 49.937
201712 34.197 106.100 45.645
201803 34.180 107.300 45.113
201806 31.766 108.500 41.463
201809 32.328 109.500 41.811
201812 34.096 109.800 43.977
201903 34.154 110.400 43.812
201906 32.496 110.600 41.610
201909 33.811 111.100 43.099
201912 34.901 111.300 44.409
202003 38.586 111.200 49.142
202006 35.906 112.100 45.361
202009 37.540 112.900 47.090
202012 37.669 112.900 47.251
202103 38.013 114.600 46.976
202106 36.743 115.300 45.130
202109 38.288 117.500 46.148
202112 39.486 118.900 47.031
202203 40.035 119.800 47.327
202206 39.784 122.600 45.956
202209 42.124 125.600 47.497
202212 43.280 125.900 48.684
202303 46.644 127.600 51.769
202306 45.460 130.400 49.372
202309 46.094 129.800 50.291
202312 46.857 131.900 50.310
202403 49.401 132.600 52.761
202406 47.389 133.800 50.159
202409 49.423 133.700 52.351
202412 51.427 134.800 54.029
202503 51.633 136.100 53.727
202506 47.861 137.800 49.188
202509 49.187 138.500 50.295
202512 52.683 139.140 53.622
202603 51.365 141.060 51.569
202606 47.286 141.620 47.286

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 Orkla ASA (OSTO:ORKO) Overvalued in 2026?

Based on GuruFocus' analysis, Orkla ASA stock appears to be undervalued. The current stock price of kr89.75 is trading 16% below its estimated GF Value™ of kr106.87. GuruFocus considers Orkla ASA to be Modestly Undervalued.

Key valuation signals for OSTO:ORKO:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: kr106.87 vs. price of kr89.75 (16% below fair value)
  • GF Score™: 84/100 with 2 warning signs

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


Orkla ASA Business Description

Address Drammensveien 149, Oslo, NOR, NO-0277
Orkla ASA is a branded consumer goods company, originally from Norway. Its segments include Orkla Foods, Orkla Food Ingredients, Orkla Snacks, Orkla Health, Orkla India, Orkla Home & Personal Care, The European Pizza, Orkla House Care, Health and Sports Nutrition Group, Pierre Robert Group, and Lilleborg. It generates the majority of its revenue from Norway.
84GF Score

Get the complete analysis for OSTO:ORKO

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

kr89.75
Price
kr106.87
GF Value