Bath & Body Works (WBO:LBRA) Cyclically Adjusted PB Ratio: (As of Jul. 27, 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.

WBO:LBRA Bath & Body Works Inc WBO:LBRA
63 GF Score
Price €17.71
GF Value €29.18
Valuation Significantly Undervalued
! 4 Warning Signs
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What is Bath & Body Works Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Bath & Body Works  (WBO:LBRA) 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.


Bath & Body Works Cyclically Adjusted PB Ratio Related Terms


Bath & Body Works Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Bath & Body Works'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.

Bath & Body Works Cyclically Adjusted PB Ratio Chart

Bath & Body Works Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Cyclically Adjusted PB Ratio
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Bath & Body Works Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 0.00 0.00 0.00 0.00 0.00

WBO:LBRA vs MNSO, RH, ASO: Cyclically Adjusted PB Ratio Comparison

For the Specialty Retail subindustry, Bath & Body Works'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.


Bath & Body Works Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Bath & Body Works's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Bath & Body Works's Cyclically Adjusted PB Ratio falls into.


WBO:LBRA
63GF Score
Bath & Body Works Inc WBO:LBRA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Bath & Body Works 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.

Bath & Body Works's Cyclically Adjusted Book per Share for the quarter that ended in Apr. 2026 is calculated as:

For example, Bath & Body Works's adjusted Book Value per Share data for the three months ended in Apr. 2026 was:

Adj_Book=Book Value per Share/CPI of Apr. 2026 (Change)*Current CPI (Apr. 2026)
=-4.81/333.0200*333.0200
=-4.810

Current CPI (Apr. 2026) = 333.0200.

Bath & Body Works Quarterly Data

Book Value per Share CPI Adj_Book
201607 -3.576 240.628 -4.949
201610 -3.778 241.729 -5.205
201701 -2.396 242.839 -3.286
201704 -2.727 244.524 -3.714
201707 -2.771 244.786 -3.770
201710 -3.383 246.663 -4.567
201801 -2.205 247.867 -2.963
201804 -2.847 250.546 -3.784
201807 -3.499 252.006 -4.624
201810 -4.157 252.885 -5.474
201901 -2.768 251.712 -3.662
201904 -2.909 255.548 -3.791
201907 -3.015 256.571 -3.913
201910 -4.068 257.346 -5.264
202001 -4.876 257.971 -6.295
202004 -6.159 256.389 -8.000
202007 -5.971 259.101 -7.674
202010 -4.794 260.388 -6.131
202101 -1.955 261.582 -2.489
202104 -1.612 267.054 -2.010
202107 -3.796 273.003 -4.631
202110 -5.557 276.589 -6.691
202201 -5.285 281.148 -6.260
202204 -10.433 289.109 -12.018
202207 -11.481 296.276 -12.905
202210 -11.615 298.012 -12.979
202301 -8.940 299.170 -9.952
202304 -8.646 303.363 -9.491
202307 -8.544 305.691 -9.308
202310 -8.865 307.671 -9.595
202401 -6.611 308.417 -7.138
202404 -7.009 313.548 -7.444
202407 -7.204 314.540 -7.627
202410 -7.399 315.664 -7.806
202501 -6.194 317.671 -6.493
202504 -6.091 320.795 -6.323
202507 -6.378 323.048 -6.575
202510 -6.675 0.000
202601 -5.424 325.252 -5.554
202604 -4.810 333.020 -4.810

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 Bath & Body Works (WBO:LBRA) Overvalued in 2026?

Based on GuruFocus' analysis, Bath & Body Works stock appears to be undervalued. The current stock price of €17.71 is trading 39.3% below its estimated GF Value™ of €29.18. GuruFocus considers Bath & Body Works to be Significantly Undervalued.

Key valuation signals for WBO:LBRA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €29.18 vs. price of €17.71 (39.3% below fair value)
  • GF Score™: 63/100 with 4 warning signs

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


Bath & Body Works Business Description

Address Three Limited Parkway, Columbus, OH, USA, 43230
Bath & Body Works is a specialty home fragrance and fragrant body care retailer operating under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company generates most of its business in North America, with just 4% of sales from international markets in fiscal 2025. For fiscal 2025, 77% of sales stemmed from the brick-and-mortar network of more than 1,900 retail stores, similar to 2024 levels, as consumer shopping patterns remained normal. Future growth is expected from store upgrades, digital and international channels, as well as adjacent category expansions like men's and lip.
63GF Score

Get the complete analysis for WBO:LBRA

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

€17.71
Price
€29.18
GF Value