SOL SpA (STU:QOL) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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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.
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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:QOL SOL SpA STU:QOL
92 GF Score
Price €54.70
GF Value €41.50
Valuation Significantly Overvalued
! 1 Warning Sign
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What is SOL SpA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


SOL SpA  (STU:QOL) 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.


SOL SpA Cyclically Adjusted PB Ratio Related Terms


SOL SpA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for SOL 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.

SOL SpA Cyclically Adjusted PB Ratio Chart

SOL 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 3.42 2.53 3.50 4.20 5.05

SOL SpA Semi-Annual Data
Dec16 Jun17 Dec17 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 Premium Member Only Premium Member Only Premium Member Only 4.12 4.32 5.24 5.20 6.06

STU:QOL vs LIN, SHW, ECL: Cyclically Adjusted PB Ratio Comparison

For the Specialty Chemicals subindustry, SOL 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.


SOL SpA Cyclically Adjusted PB Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, SOL SpA's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


STU:QOL
92GF Score
SOL SpA STU:QOL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SOL 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.

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

For example, SOL 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)
=13.108/122.6000*122.6000
=13.108

Current CPI (Dec25) = 122.6000.

SOL SpA Annual Data

Book Value per Share CPI Adj_Book
201612 5.396 100.300 6.596
201712 5.578 101.200 6.758
201812 6.020 102.300 7.215
201912 6.394 102.800 7.626
202012 7.308 102.600 8.733
202112 7.954 106.600 9.148
202212 9.511 119.000 9.799
202312 10.751 119.700 11.011
202412 11.895 121.200 12.032
202512 13.108 122.600 13.108

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 SOL SpA (STU:QOL) Overvalued in 2026?

Based on GuruFocus' analysis, SOL SpA stock appears to be overvalued. The current stock price of €54.70 is trading 31.8% above its estimated GF Value™ of €41.50. GuruFocus considers SOL SpA to be Significantly Overvalued.

Key valuation signals for STU:QOL:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €41.50 vs. price of €54.70 (31.8% above fair value)
  • GF Score™: 92/100 with 1 warning sign

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


SOL SpA Business Description

Other Exchanges SOL:ItalySOLm:UK0NJP:UK
Address Via Borgazzi, 27, Monza, ITA, 20900
SOL SpA manufactures and sells industrial gases and medical equipment. The firm's two segments are based on product type. The home-care segment, which generates the majority of revenue, sells a variety of medicinal gases including oxygen, nitrogen, nitrous oxide, carbon dioxide, synthetic air, and medical air. The segment also provides medical air services for hospitals. The technical gases segment sells gas-based products to the energy, agricultural, food, metalworking, glass, and electronics industries. More of SOL's revenue comes from Italy than any other country.
92GF Score

Get the complete analysis for STU:QOL

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

€54.70
Price
€41.50
GF Value