Nexi SpA (STU:N0XA) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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:N0XA Nexi SpA STU:N0XA
77 GF Score
Price €4.12
GF Value €4.89
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Nexi SpA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Nexi SpA  (STU:N0XA) 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.


Nexi SpA Cyclically Adjusted PB Ratio Related Terms


Nexi SpA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Nexi SpA'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.

Nexi SpA Cyclically Adjusted PB Ratio Chart

Nexi SpA 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 - - - - 0.59

Nexi SpA Semi-Annual Data
Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 - - - 0.59 0.49

STU:N0XA vs MSFT, PLTR, ORCL: Cyclically Adjusted PB Ratio Comparison

For the Software - Infrastructure subindustry, Nexi SpA'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.


Nexi SpA Cyclically Adjusted PB Ratio vs Software Industry

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

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


STU:N0XA
77GF Score
Nexi SpA STU:N0XA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nexi SpA 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.

Nexi SpA's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 is calculated as:

For example, Nexi SpA's adjusted Book Value per Share data for the fiscal year that ended in Dec25 was:

Adj_Book=Book Value per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=6.042/122.6000*122.6000
=6.042

Current CPI (Dec25) = 122.6000.

Nexi SpA Annual Data

Book Value per Share CPI Adj_Book
201612 8.063 100.300 9.856
201712 8.002 101.200 9.694
201812 0.750 102.300 0.899
201912 2.110 102.800 2.516
202012 2.481 102.600 2.965
202112 9.396 106.600 10.806
202212 9.347 119.000 9.630
202312 8.613 119.700 8.822
202412 8.913 121.200 9.016
202512 6.042 122.600 6.042

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 Nexi SpA (STU:N0XA) Overvalued in 2026?

Based on GuruFocus' analysis, Nexi SpA stock appears to be undervalued. The current stock price of €4.12 is trading 15.7% below its estimated GF Value™ of €4.89. GuruFocus considers Nexi SpA to be Modestly Undervalued.

Key valuation signals for STU:N0XA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €4.89 vs. price of €4.12 (15.7% below fair value)
  • GF Score™: 77/100 with 4 warning signs

No single metric tells the full story. See the STU:N0XA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Nexi SpA Business Description

Address Corso Sempione 55, Milan, ITA, 20149
Nexi is a payment services provider offering merchant acquiring, card issuing, and digital banking services across Europe. Nexi's services cover the entire payment chain excluding the card scheme. It offers its acquiring and issuing services either in partnerships with banks, providing point-of-sale terminals, processing, or issuing services on their behalf or directly to merchants.
77GF Score

Get the complete analysis for STU:N0XA

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

€4.12
Price
€4.89
GF Value