Lipocine (STU:2VT0) Cyclically Adjusted PB Ratio: (As of Aug. 05, 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.

STU:2VT0 Lipocine Inc STU:2VT0
52 GF Score
Price €3.94
GF Value €3.57
! 4 Warning Signs
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What is Lipocine Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Lipocine  (STU:2VT0) 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.


Lipocine Cyclically Adjusted PB Ratio Related Terms


Lipocine Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Lipocine'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.

Lipocine Cyclically Adjusted PB Ratio Chart

Lipocine 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 0.79 0.29 0.13 0.29 0.68

Lipocine 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 0.22 0.22 0.68 0.73 0.00

STU:2VT0 vs NXTC, VYNE, QNCX: Cyclically Adjusted PB Ratio Comparison

For the Biotechnology subindustry, Lipocine'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.


Lipocine Cyclically Adjusted PB Ratio vs Biotechnology Industry

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

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


STU:2VT0
52GF Score
Lipocine Inc STU:2VT0
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Lipocine 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.

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

For example, Lipocine'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)
=2.292/333.9520*333.9520
=2.292

Current CPI (Jun. 2026) = 333.9520.

Lipocine Quarterly Data

Book Value per Share CPI Adj_Book
201609 23.214 241.428 32.110
201612 22.711 241.432 31.414
201703 20.530 243.801 28.121
201706 18.482 244.955 25.197
201709 16.006 246.819 21.657
201712 12.820 246.524 17.367
201803 10.808 249.554 14.463
201806 9.496 251.989 12.585
201809 8.032 252.439 10.626
201812 6.488 251.233 8.624
201903 7.683 254.202 10.093
201906 5.995 256.143 7.816
201909 4.630 256.759 6.022
201912 2.555 256.974 3.320
202003 2.107 258.115 2.726
202006 3.219 257.797 4.170
202009 3.188 260.280 4.090
202012 3.061 260.474 3.924
202103 6.856 264.877 8.644
202106 5.712 271.696 7.021
202109 5.369 274.310 6.536
202112 7.765 278.802 9.301
202203 7.397 287.504 8.592
202206 7.249 296.311 8.170
202209 7.303 296.808 8.217
202212 6.460 296.797 7.269
202303 5.733 301.836 6.343
202306 5.034 305.109 5.510
202309 3.963 307.789 4.300
202312 3.514 306.746 3.826
202403 4.146 312.332 4.433
202406 3.684 314.175 3.916
202409 3.221 315.301 3.412
202412 3.750 315.605 3.968
202503 3.320 319.799 3.467
202506 2.763 322.561 2.861
202509 2.223 324.800 2.286
202512 2.008 324.054 2.069
202603 2.642 330.213 2.672
202606 2.292 333.952 2.292

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 Lipocine (STU:2VT0) Overvalued in 2026?

Based on GuruFocus' analysis, Lipocine stock appears to be overvalued. The current stock price of €3.94 is trading 10.5% above its estimated GF Value™ of €3.57.

Key valuation signals for STU:2VT0:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €3.57 vs. price of €3.94 (10.5% above fair value)
  • GF Score™: 52/100 with 4 warning signs

No single metric tells the full story. See the STU:2VT0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Lipocine Business Description

Other Exchanges LPCN:USA
Address 675 Arapeen Drive, Suite 202, Salt Lake City, UT, USA, 84108
Lipocine Inc is a clinical-stage biopharmaceutical company that is engaged in research and development for the delivery of drugs using its proprietary delivery technology. Its principal operation is to provide oral delivery solutions for existing drugs. Lipocine develops its drug candidates, or it develops drug candidates on behalf of or in collaboration with corporate partners. The company's product TLANDO is an oral testosterone replacement therapy (TRT). It also has other products in the pipeline, such as LPCN 1144, TLANDO, TLANDO XR, LPCN 1148, LPCN 1107, LPCN 1154, and LIP RAL7 Technology. The Company has a single reportable segment, research, and development for the delivery of drugs using its proprietary delivery technology.
52GF Score

Get the complete analysis for STU:2VT0

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

€3.94
Price
€3.57
GF Value