Ratos AB (STU:RAZB) Cyclically Adjusted PB Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:RAZB Ratos AB STU:RAZB
60 GF Score
Price €3.34
GF Value €2.49
! 3 Warning Signs
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What is Ratos AB Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Ratos AB  (STU:RAZB) 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.


Ratos AB Cyclically Adjusted PB Ratio Related Terms


Ratos AB Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Ratos AB'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.

Ratos AB Cyclically Adjusted PB Ratio Chart

Ratos AB 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 1.21 0.72 0.65 0.58 0.78

Ratos AB 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 0.77 0.72 0.77 0.66 0.67

STU:RAZB vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Ratos AB'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.


Ratos AB Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Ratos AB's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


STU:RAZB
60GF Score
Ratos AB STU:RAZB
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Ratos AB 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.

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

For example, Ratos AB'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)
=4.59/134.6100*134.6100
=4.590

Current CPI (Jun. 2026) = 134.6100.

Ratos AB Quarterly Data

Book Value per Share CPI Adj_Book
201609 4.146 101.138 5.518
201612 4.346 102.022 5.734
201703 4.316 102.022 5.695
201706 3.735 102.752 4.893
201709 3.920 103.279 5.109
201712 3.681 103.793 4.774
201803 3.589 103.962 4.647
201806 3.436 104.875 4.410
201809 3.511 105.679 4.472
201812 3.884 105.912 4.936
201903 3.188 105.886 4.053
201906 3.251 106.742 4.100
201909 3.386 107.214 4.251
201912 3.347 107.766 4.181
202003 3.165 106.563 3.998
202006 3.435 107.498 4.301
202009 3.463 107.635 4.331
202012 3.519 108.296 4.374
202103 3.684 108.360 4.576
202106 3.934 108.928 4.862
202109 3.959 110.338 4.830
202112 3.987 112.486 4.771
202203 3.818 114.825 4.476
202206 3.883 118.384 4.415
202209 3.898 122.296 4.290
202212 3.805 126.365 4.053
202303 3.568 127.042 3.781
202306 3.565 129.407 3.708
202309 3.731 130.224 3.857
202312 3.976 131.912 4.057
202403 3.697 132.205 3.764
202406 4.008 132.716 4.065
202409 3.940 132.304 4.009
202412 3.938 132.987 3.986
202503 3.893 132.825 3.945
202506 4.607 133.699 4.638
202509 4.779 133.480 4.819
202512 4.354 133.380 4.394
202603 4.288 133.550 4.322
202606 4.590 134.610 4.590

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 Ratos AB (STU:RAZB) Overvalued in 2026?

Based on GuruFocus' analysis, Ratos AB stock appears to be overvalued. The current stock price of €3.34 is trading 34.1% above its estimated GF Value™ of €2.49.

Key valuation signals for STU:RAZB:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €2.49 vs. price of €3.34 (34.1% above fair value)
  • GF Score™: 60/100 with 3 warning signs

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


Ratos AB Business Description

Address Sturegatan 10, Box 511, Stockholm, SWE, SE-114 11
Ratos AB is an investment company that owns and develops unlisted medium-and small-sized Nordic companies. The company focuses on technological and infrastructure solutions and comprises two business segment; Construction & Services and Consumer. Majority of the revenue is generated from its Construction & Services segment which predominantly includes maintenance of infrastructure within railway, road, energy solutions, and construction of new critical buildings such as hospitals, schools, police stations and governmental buildings in the Nordics. Geographically, the company generates majority of its revenue from Norway and rest from Sweden and other regions.
60GF Score

Get the complete analysis for STU:RAZB

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

€3.34
Price
€2.49
GF Value