Dassault Systemes SE (STU:DSYA) Cyclically Adjusted PB Ratio: (As of Sep. 22, 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:DSYA Dassault Systemes SE STU:DSYA
87 GF Score
Price €20.95
GF Value €34.20
Valuation Significantly Undervalued
! 2 Warning Signs
View Full Analysis

What is Dassault Systemes SE Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Dassault Systemes SE  (STU:DSYA) 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.


Dassault Systemes SE Cyclically Adjusted PB Ratio Related Terms


Dassault Systemes SE Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Dassault Systemes SE'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.

Dassault Systemes SE Cyclically Adjusted PB Ratio Chart

Dassault Systemes SE 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 16.08 8.81 10.23 6.94 4.55

Dassault Systemes SE 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 6.28 5.75 4.69 3.33 3.36

STU:DSYA vs CRM, SHOP, UBER: Cyclically Adjusted PB Ratio Comparison

For the Software - Application subindustry, Dassault Systemes SE'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.


Dassault Systemes SE Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Dassault Systemes SE's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


STU:DSYA
87GF Score
Dassault Systemes SE STU:DSYA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Dassault Systemes SE 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.

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

For example, Dassault Systemes SE'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)
=7.042/123.5000*123.5000
=7.042

Current CPI (Jun. 2026) = 123.5000.

Dassault Systemes SE Quarterly Data

Book Value per Share CPI Adj_Book
201609 2.842 100.340 3.498
201612 3.062 100.650 3.757
201703 3.048 101.170 3.721
201706 2.927 101.320 3.568
201709 2.979 101.330 3.631
201712 3.122 101.850 3.786
201803 3.295 102.750 3.960
201806 3.493 103.370 4.173
201809 3.484 103.560 4.155
201812 3.577 103.470 4.269
201903 3.800 103.890 4.517
201906 3.752 104.580 4.431
201909 4.054 104.500 4.791
201912 4.057 104.980 4.773
202003 4.232 104.590 4.997
202006 4.131 104.790 4.869
202009 4.009 104.550 4.736
202012 3.912 104.960 4.603
202103 4.318 105.750 5.043
202106 4.313 106.340 5.009
202109 4.498 106.810 5.201
202112 4.741 107.850 5.429
202203 5.019 110.490 5.610
202206 5.349 112.550 5.869
202209 5.971 112.740 6.541
202212 5.575 114.160 6.031
202303 5.692 116.790 6.019
202306 5.701 117.650 5.984
202309 5.911 118.260 6.173
202312 5.968 118.390 6.226
202403 6.270 119.470 6.482
202406 6.201 120.200 6.371
202409 6.093 119.560 6.294
202412 6.917 119.950 7.122
202503 6.832 120.380 7.009
202506 6.209 121.360 6.318
202509 6.313 120.950 6.446
202512 6.662 120.890 6.806
202603 6.991 122.410 7.053
202606 7.042 123.500 7.042

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 Dassault Systemes SE (STU:DSYA) Overvalued in 2026?

Based on GuruFocus' analysis, Dassault Systemes SE stock appears to be undervalued. The current stock price of €20.95 is trading 38.7% below its estimated GF Value™ of €34.20. GuruFocus considers Dassault Systemes SE to be Significantly Undervalued.

Key valuation signals for STU:DSYA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €34.20 vs. price of €20.95 (38.7% below fair value)
  • GF Score™: 87/100 with 2 warning signs

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


Dassault Systemes SE Business Description

Address 10, Rue Marcel Dassault, Velizy-Villacoublay, FRA, 78140
Dassault Systèmes is a leading provider of computer-assisted design and product lifecycle management software, serving customers like Boeing and Volkswagen throughout the production process. The company's flagship product, Catia, primarily serves the transportation, industrial equipment, and aerospace and defense industries. In life sciences, Dassault's Medidata cloud platform optimizes clinical trial efficiency and is the leader in electronic data capture.
87GF Score

Get the complete analysis for STU:DSYA

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

€20.95
Price
€34.20
GF Value