Shionogi (STU:SH0) Cyclically Adjusted PB Ratio: 2.42 (As of Aug. 06, 2026) — 32% Below Median

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Director of Data and Quant Analytics at GuruFocus
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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:SH0 Shionogi & Co Ltd STU:SH0
89 GF Score
Price €15.07
GF Value €17.51
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Shionogi Cyclically Adjusted PB Ratio?

Shionogi STU:SH0 -2.59% 89 Cyclically Adjusted PB Ratio is 2.42 as of Aug. 06, 2026, which is 32% below its 10-year median of 3.57. GuruFocus rates STU:SH0 with a GF Score™ of 89/100 and a GF Value™ of €17.51 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 737 Drug Manufacturers companies, Shionogi ranks worse than 64.04% on this metric.

As of today (2026-08-06), Shionogi's current share price is €15.07. Shionogi's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was €6.24. Shionogi's Cyclically Adjusted PB Ratio for today is 2.42.

The historical rank and industry rank for Shionogi's Cyclically Adjusted PB Ratio or its related term are showing as below:

STU:SH0' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.21   Med: 3.57   Max: 5.58
Current: 2.38

During the past years, Shionogi's highest Cyclically Adjusted PB Ratio was 5.58. The lowest was 2.21. And the median was 3.57.

STU:SH0's Cyclically Adjusted PB Ratio is ranked worse than
64.04% of 737 companies
in the Drug Manufacturers industry
Industry Median: 1.77 vs STU:SH0: 2.38

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Shionogi's adjusted book value per share data for the three months ended in Jun. 2026 was €11.244. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is €6.24 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Shionogi  (STU:SH0) 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.


Shionogi Cyclically Adjusted PB Ratio Related Terms


Shionogi Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Shionogi'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.

Shionogi Cyclically Adjusted PB Ratio Chart

Shionogi Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.86 2.66 3.00 2.30 3.12

Shionogi 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 2.57 2.49 2.63 3.12 2.40

STU:SH0 vs ZTS: Cyclically Adjusted PB Ratio Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Shionogi'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.


Shionogi Cyclically Adjusted PB Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Shionogi's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


STU:SH0
89GF Score
Shionogi & Co Ltd STU:SH0
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Shionogi 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.

Shionogi's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=15.07/6.24
=2.42

* 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.

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

For example, Shionogi'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)
=11.244/113.6000*113.6000
=11.244

Current CPI (Jun. 2026) = 113.6000.

Shionogi Quarterly Data

Book Value per Share CPI Adj_Book
201609 4.545 98.000 5.268
201612 4.296 98.400 4.960
201703 4.526 98.100 5.241
201706 4.464 98.500 5.148
201709 4.531 98.800 5.210
201712 4.627 99.400 5.288
201803 5.924 99.200 6.784
201806 5.137 99.200 5.883
201809 5.231 99.900 5.948
201812 5.283 99.700 6.020
201903 6.896 99.700 7.857
201906 5.854 99.800 6.663
201909 6.217 100.100 7.055
201912 6.180 100.500 6.986
202003 7.057 100.300 7.993
202006 7.081 99.900 8.052
202009 7.352 99.900 8.360
202012 7.228 99.300 8.269
202103 7.230 99.900 8.222
202106 7.203 99.500 8.224
202109 7.517 100.100 8.531
202112 7.691 100.100 8.728
202203 8.260 101.100 9.281
202206 7.920 101.800 8.838
202209 7.878 103.100 8.680
202212 8.278 104.100 9.033
202303 8.706 104.400 9.473
202306 8.656 105.200 9.347
202309 8.682 106.200 9.287
202312 8.810 106.800 9.371
202403 8.920 107.200 9.453
202406 0.000 108.200 0.000
202409 9.578 108.900 9.991
202412 9.821 110.700 10.078
202503 9.935 111.100 10.159
202506 9.721 111.700 9.886
202509 9.702 112.000 9.841
202512 9.746 113.000 9.798
202603 10.795 112.700 10.881
202606 11.244 113.600 11.244

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.

What does a Cyclically Adjusted PB Ratio of 2.42 mean?
Shionogi (STU:SH0) has a Cyclically Adjusted PB Ratio of 2.42 as of Aug. 06, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Shionogi and its competitors. This is 32% below median its historical median of 3.57. Over the past decade, Shionogi's Cyclically Adjusted PB Ratio has ranged from 2.21 to 5.58. According to the industry distribution chart, Shionogi ranks #472 out of 737 companies in the Drug Manufacturers industry, placing it in the top 64%.
Is Shionogi's Cyclically Adjusted PB Ratio too high?
Shionogi's current Cyclically Adjusted PB Ratio of 2.42 is 32% below median its 10-year median of 3.57. Over the past 10 years, this metric has ranged from a low of 2.21 to a high of 5.58. The Drug Manufacturers industry median Cyclically Adjusted PB Ratio is 1.77. Shionogi's value of 2.42 is 36.7% above this industry median. Based on the distribution chart, Shionogi ranks #472 out of 737 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Shionogi has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shionogi's Cyclically Adjusted PB Ratio compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Shionogi ranks #472 out of 737 companies for Cyclically Adjusted PB Ratio. This places Shionogi in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.77. Shionogi's value of 2.42 is 36.7% above this benchmark. Historically, Shionogi's own Cyclically Adjusted PB Ratio has ranged from 2.21 to 5.58 over the past decade. While the company's 10-year median is 3.57 vs. the industry median of 1.77, Shionogi has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Drug Manufacturers company?
The median Cyclically Adjusted PB Ratio among Drug Manufacturers companies is 1.77, based on 737 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Shionogi's current Cyclically Adjusted PB Ratio of 2.42 is 36.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Shionogi and its competitors. For the Drug Manufacturers industry, the median Cyclically Adjusted PB Ratio is 1.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shionogi's current Cyclically Adjusted PB Ratio is 2.42, which is 32% below median its own 10-year median of 3.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shionogi stock overvalued right now?
Based on GuruFocus' analysis, Shionogi (STU:SH0) is currently considered Modestly Undervalued. The stock's GF Value™ is €17.51, compared to a current price of €15.07 — trading 13.9% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.42, which is 32% below median its 10-year median of 3.57 and 36.7% above the Drug Manufacturers industry median of 1.77. Shionogi's overall GF Score™ is 89/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Shionogi (STU:SH0), the current Cyclically Adjusted PB Ratio is 2.42 as of Aug. 06, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Shionogi (STU:SH0) Overvalued in 2026?

Based on GuruFocus' analysis, Shionogi stock appears to be undervalued. The current stock price of €15.07 is trading 13.9% below its estimated GF Value™ of €17.51. GuruFocus considers Shionogi to be Modestly Undervalued.

Key valuation signals for STU:SH0:

  • Cyclically Adjusted PB Ratio: 2.42 (32% below median its 10-year median of 3.57)
  • GF Value™: €17.51 vs. price of €15.07 (13.9% below fair value)
  • GF Score™: 89/100 with 3 warning signs
  • Industry Position: 36.7% above the Drug Manufacturers median (#472 of 737)

No single metric tells the full story. See the STU:SH0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Shionogi Business Description

Address 3-1-8 Doshomachi, Chuo-ku, Osaka, JPN, 541-0045
Shionogi & Co Ltd is a specialty and generic drug manufacturing company. The company focuses on the manufacturing and distribution of pharmaceuticals, diagnostic reagents, and medical devices. The company engages in manufacturing, formulation, packaging, and analysis as part of its commercialization research that spans late-stage drug discovery through commercial production. It provides products and services in Japan, Europe, North America, and other regions.
89GF Score

Get the complete analysis for STU:SH0

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

€15.07
Price
€17.51
GF Value