SGIOF (Shionogi) Cyclically Adjusted PB Ratio: 2.29 (As of Aug. 15, 2026) — 35% Below Median

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Director of Data and Quant Analytics at GuruFocus
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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.

SGIOF Shionogi & Co Ltd SGIOF
79 GF Score
Price $17.90
GF Value $20.40
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Shionogi Cyclically Adjusted PB Ratio?

Shionogi SGIOF 79 Cyclically Adjusted PB Ratio is 2.29 as of Aug. 15, 2026, which is 35% below its 10-year median of 3.52. GuruFocus rates SGIOF with a GF Score™ of 79/100 and a GF Value™ of $20.40 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 716 Drug Manufacturers companies, Shionogi ranks worse than 61.73% on this metric.

As of today (2026-08-15), Shionogi's current share price is $17.90. Shionogi's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was $7.82. Shionogi's Cyclically Adjusted PB Ratio for today is 2.29.

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

SGIOF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.21   Med: 3.52   Max: 5.58
Current: 2.44

During the past years, Shionogi's highest Cyclically Adjusted PB Ratio was 5.58. The lowest was 2.21. And the median was 3.52.

SGIOF's Cyclically Adjusted PB Ratio is ranked worse than
61.73% of 716 companies
in the Drug Manufacturers industry
Industry Median: 1.76 vs SGIOF: 2.44

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.

Shionogi's adjusted book value per share data for the three months ended in Jun. 2026 was $12.954. 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 $7.82 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Shionogi  (OTCPK:SGIOF) 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.


Shionogi Cyclically Adjusted PB Ratio Related Terms


Shionogi Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Shionogi'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.

Shionogi Cyclically Adjusted PB Ratio Chart

Shionogi Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.86 2.66 3.00 2.30 3.12

Shionogi 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 2.57 2.49 2.63 3.12 2.40

SGIOF vs ZTS: Cyclically Adjusted PB Ratio Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Shionogi'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.


Shionogi Cyclically Adjusted PB Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Shionogi's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


SGIOF
79GF Score
Shionogi & Co Ltd SGIOF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Shionogi 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.

Shionogi's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=17.90/7.82
=2.29

* 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.

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

For example, Shionogi'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)
=12.954/113.6000*113.6000
=12.954

Current CPI (Jun. 2026) = 113.6000.

Shionogi Quarterly Data

Book Value per Share CPI Adj_Book
201609 5.101 98.000 5.913
201612 4.531 98.400 5.231
201703 4.841 98.100 5.606
201706 5.016 98.500 5.785
201709 5.401 98.800 6.210
201712 5.475 99.400 6.257
201803 7.305 99.200 8.365
201806 6.002 99.200 6.873
201809 6.104 99.900 6.941
201812 6.010 99.700 6.848
201903 7.792 99.700 8.878
201906 6.614 99.800 7.529
201909 6.847 100.100 7.770
201912 6.867 100.500 7.762
202003 7.798 100.300 8.832
202006 7.974 99.900 9.068
202009 8.659 99.900 9.846
202012 8.794 99.300 10.060
202103 8.607 99.900 9.787
202106 8.678 99.500 9.908
202109 8.844 100.100 10.037
202112 8.690 100.100 9.862
202203 9.097 101.100 10.222
202206 8.372 101.800 9.342
202209 7.800 103.100 8.594
202212 8.769 104.100 9.569
202303 9.321 104.400 10.142
202306 9.378 105.200 10.127
202309 9.266 106.200 9.912
202312 9.607 106.800 10.219
202403 9.695 107.200 10.274
202406 0.000 108.200 0.000
202409 10.631 108.900 11.090
202412 10.284 110.700 10.553
202503 10.741 111.100 10.983
202506 11.212 111.700 11.403
202509 11.388 112.000 11.551
202512 11.412 113.000 11.473
202603 12.480 112.700 12.580
202606 12.954 113.600 12.954

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 2.29 mean?
Shionogi (SGIOF) has a Cyclically Adjusted PB Ratio of 2.29 as of Aug. 15, 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 Shionogi and its competitors. This is 35% below median its historical median of 3.52. Over the past decade, Shionogi's Cyclically Adjusted PB Ratio has ranged from 2.21 to 5.58. According to the industry distribution chart, Shionogi ranks #442 out of 716 companies in the Drug Manufacturers industry, placing it in the top 61.7%.
Is Shionogi's Cyclically Adjusted PB Ratio too high?
Shionogi's current Cyclically Adjusted PB Ratio of 2.29 is 35% below median its 10-year median of 3.52. Over the past 10 years, this metric has ranged from a low of 2.21 to a high of 5.58. The Drug Manufacturers industry median Cyclically Adjusted PB Ratio is 1.76. Shionogi's value of 2.29 is 30.1% above this industry median. Based on the distribution chart, Shionogi ranks #442 out of 716 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Shionogi has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shionogi's Cyclically Adjusted PB Ratio compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Shionogi ranks #442 out of 716 companies for Cyclically Adjusted PB Ratio. This places Shionogi in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.76. Shionogi's value of 2.29 is 30.1% above this benchmark. Historically, Shionogi's own Cyclically Adjusted PB Ratio has ranged from 2.21 to 5.58 over the past decade. While the company's 10-year median is 3.52 vs. the industry median of 1.76, Shionogi has consistently been above 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 Drug Manufacturers company?
The median Cyclically Adjusted PB Ratio among Drug Manufacturers companies is 1.76, based on 716 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. Shionogi's current Cyclically Adjusted PB Ratio of 2.29 is 30.1% above 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 Shionogi and its competitors. For the Drug Manufacturers industry, the median Cyclically Adjusted PB Ratio is 1.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shionogi's current Cyclically Adjusted PB Ratio is 2.29, which is 35% below median its own 10-year median of 3.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shionogi stock overvalued right now?
Based on GuruFocus' analysis, Shionogi (SGIOF) is currently considered Modestly Undervalued. The stock's GF Value™ is $20.40, compared to a current price of $17.90 — trading 12.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.29, which is 35% below median its 10-year median of 3.52 and 30.1% above the Drug Manufacturers industry median of 1.76. Shionogi's overall GF Score™ is 79/100 with 3 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 Shionogi (SGIOF), the current Cyclically Adjusted PB Ratio is 2.29 as of Aug. 15, 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 Shionogi (SGIOF) Overvalued in 2026?

Based on GuruFocus' analysis, Shionogi stock appears to be undervalued. The current stock price of $17.90 is trading 12.3% below its estimated GF Value™ of $20.40. GuruFocus considers Shionogi to be Modestly Undervalued.

Key valuation signals for SGIOF:

  • Cyclically Adjusted PB Ratio: 2.29 (35% below median its 10-year median of 3.52)
  • GF Value™: $20.40 vs. price of $17.90 (12.3% below fair value)
  • GF Score™: 79/100 with 3 warning signs
  • Industry Position: 30.1% above the Drug Manufacturers median (#442 of 716)

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


Shionogi Business Description

Address 3-1-8 Doshomachi, Chuo-ku, Osaka, JPN, 541-0045
Shionogi & Co Ltd is a specialty and generic drug manufacturing company. The company focuses on the manufacturing and distribution of pharmaceuticals, diagnostic reagents, and medical devices. The company engages in manufacturing, formulation, packaging, and analysis as part of its commercialization research that spans late-stage drug discovery through commercial production. It provides products and services in Japan, Europe, North America, and other regions.
79GF Score

Get the complete analysis for SGIOF

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

$17.90
Price
$20.40
GF Value