Onex (STU:ONE) 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:ONE Onex Corp STU:ONE
72 GF Score
Price €68.00
GF Value €58.45
! 6 Warning Signs
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What is Onex Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Onex  (STU:ONE) 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.


Onex Cyclically Adjusted PB Ratio Related Terms


Onex Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Onex'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.

Onex Cyclically Adjusted PB Ratio Chart

Onex 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 1.56 0.88 1.05 1.08 0.86

Onex 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 0.97 1.02 0.91 0.79 0.78

STU:ONE vs BLK, BX, KKR: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, Onex'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.


Onex Cyclically Adjusted PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Onex's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


STU:ONE
72GF Score
Onex Corp STU:ONE
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Onex 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.

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

For example, Onex'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)
=111.086/133.5265*133.5265
=111.086

Current CPI (Jun. 2026) = 133.5265.

Onex Quarterly Data

Book Value per Share CPI Adj_Book
201609 14.380 101.765 18.868
201612 12.461 101.449 16.401
201703 10.879 102.634 14.154
201706 35.501 103.029 46.010
201709 38.995 103.345 50.383
201712 41.322 103.345 53.390
201803 40.535 105.004 51.546
201806 37.988 105.557 48.054
201809 34.060 105.636 43.053
201812 49.113 105.399 62.220
201903 57.335 106.979 71.563
201906 58.871 107.690 72.995
201909 62.306 107.611 77.311
201912 62.170 107.769 77.029
202003 54.318 107.927 67.202
202006 59.289 108.401 73.031
202009 62.635 108.164 77.322
202012 65.548 108.559 80.623
202103 72.197 110.298 87.402
202106 73.178 111.720 87.462
202109 80.992 112.905 95.785
202112 84.830 113.774 99.557
202203 88.564 117.646 100.519
202206 92.312 120.806 102.032
202209 97.455 120.648 107.858
202212 95.660 120.964 105.595
202303 91.231 122.702 99.279
202306 92.790 124.203 99.755
202309 99.710 125.230 106.315
202312 100.165 125.072 106.936
202403 102.666 126.258 108.577
202406 105.876 127.522 110.862
202409 104.390 127.285 109.509
202412 113.369 127.364 118.855
202503 111.638 129.181 115.393
202506 106.622 129.892 109.605
202509 106.948 130.287 109.607
202512 108.946 130.366 111.587
202603 108.804 132.262 109.844
202606 111.086 133.527 111.086

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 Onex (STU:ONE) Overvalued in 2026?

Based on GuruFocus' analysis, Onex stock appears to be overvalued. The current stock price of €68.00 is trading 16.3% above its estimated GF Value™ of €58.45.

Key valuation signals for STU:ONE:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €58.45 vs. price of €68.00 (16.3% above fair value)
  • GF Score™: 72/100 with 6 warning signs

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


Onex Business Description

Other Exchanges ONEXF:USAONEX:Canada
Address 161 Bay Street, 49th Floor, P.O. Box 700, Toronto, ON, CAN, M5J 2S1
Onex Corp is a private equity investor and asset management firm. The company operates in two reportable segments: Investing, which comprises the activity of investing Onex's capital, and Asset Management, which comprises the asset management activities provided by Onex to support its private equity and Credit strategies, as well as Onex's corporate functions. The majority of the company's revenue is generated through the Investing segment.
72GF Score

Get the complete analysis for STU:ONE

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

€68.00
Price
€58.45
GF Value