Barings BDC (STU:TRY) Cyclically Adjusted PB Ratio: (As of Aug. 08, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
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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:TRY Barings BDC Inc STU:TRY
65 GF Score
Price €7.90
GF Value €6.97
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Barings BDC Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Barings BDC  (STU:TRY) 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.


Barings BDC Cyclically Adjusted PB Ratio Related Terms


Barings BDC Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Barings BDC'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.

Barings BDC Cyclically Adjusted PB Ratio Chart

Barings BDC 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 0.70 0.51 0.55 0.64 0.64

Barings BDC 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 0.62 0.60 0.64 0.57 0.60

STU:TRY vs PHK, AWF, PCN: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, Barings BDC'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.


Barings BDC Cyclically Adjusted PB Ratio vs Asset Management Industry

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

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


STU:TRY
65GF Score
Barings BDC Inc STU:TRY
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Barings BDC 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.

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

For example, Barings BDC'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)
=9.499/333.9520*333.9520
=9.499

Current CPI (Jun. 2026) = 333.9520.

Barings BDC Quarterly Data

Book Value per Share CPI Adj_Book
201609 13.658 241.428 18.892
201612 14.341 241.432 19.837
201703 14.299 243.801 19.586
201706 13.196 244.955 17.990
201709 11.079 246.819 14.990
201712 11.350 246.524 15.375
201803 10.833 249.554 14.497
201806 11.727 251.989 15.541
201809 10.210 252.439 13.507
201812 9.649 251.233 12.826
201903 10.199 254.202 13.399
201906 10.256 256.143 13.371
201909 10.518 256.759 13.680
201912 10.496 256.974 13.640
202003 8.354 258.115 10.808
202006 9.081 257.797 11.764
202009 9.311 260.280 11.946
202012 9.034 260.474 11.582
202103 9.361 264.877 11.802
202106 9.456 271.696 11.623
202109 9.693 274.310 11.801
202112 10.053 278.802 12.042
202203 10.769 287.504 12.509
202206 10.796 296.311 12.167
202209 11.392 296.808 12.818
202212 10.430 296.797 11.736
202303 10.429 301.836 11.539
202306 10.464 305.109 11.453
202309 10.541 307.789 11.437
202312 10.345 306.746 11.263
202403 10.523 312.332 11.251
202406 10.558 314.175 11.223
202409 10.195 315.301 10.798
202412 10.785 315.605 11.412
202503 10.447 319.799 10.909
202506 9.694 322.561 10.036
202509 9.453 324.800 9.719
202512 9.467 324.054 9.756
202603 9.529 330.213 9.637
202606 9.499 333.952 9.499

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 Barings BDC (STU:TRY) Overvalued in 2026?

Based on GuruFocus' analysis, Barings BDC stock appears to be overvalued. The current stock price of €7.90 is trading 13.3% above its estimated GF Value™ of €6.97. GuruFocus considers Barings BDC to be Modestly Overvalued.

Key valuation signals for STU:TRY:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €6.97 vs. price of €7.90 (13.3% above fair value)
  • GF Score™: 65/100 with 6 warning signs

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


Barings BDC Business Description

Other Exchanges BBDC:USATRY:Germany
Address 300 South Tryon Street, Suite 2500, Charlotte, NC, USA, 28202
Barings BDC Inc operates as a closed-end, non-diversified investment company and has elected to be treated as a business development company. The company's investment objective is to generate current income by investing directly in privately held middle-market companies to help these companies fund acquisitions, growth, or refinancing. It employs fundamental credit analysis and targets investments in businesses with low levels of cyclicality and operating risk relative to other businesses in this market segment. The holding size of each position will generally be dependent upon a number of factors including total facility size, pricing and structure, and the number of other lenders in the facility.
65GF Score

Get the complete analysis for STU:TRY

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

€7.90
Price
€6.97
GF Value