Multitude AG (WBO:MULT) Cyclically Adjusted PB Ratio: (As of Aug. 10, 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.

WBO:MULT Multitude AG WBO:MULT
59 GF Score
Price €5.22
GF Value €5.14
Valuation Fairly Valued
! 6 Warning Signs
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What is Multitude AG Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Multitude AG  (WBO:MULT) 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.


Multitude AG Cyclically Adjusted PB Ratio Related Terms


Multitude AG Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Multitude AG'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.

Multitude AG Cyclically Adjusted PB Ratio Chart

Multitude AG 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 0.00 0.00 0.77 0.76 0.86

Multitude AG Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.74 1.10 1.07 0.86 0.86

WBO:MULT vs PNC, USB: Cyclically Adjusted PB Ratio Comparison

For the Banks - Regional subindustry, Multitude AG'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.


Multitude AG Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Multitude AG's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WBO:MULT
59GF Score
Multitude AG WBO:MULT
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Multitude AG 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.

Multitude AG's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Multitude AG's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=11.633/108.0600*108.0600
=11.633

Current CPI (Mar. 2026) = 108.0600.

Multitude AG Quarterly Data

Book Value per Share CPI Adj_Book
201606 3.760 100.088 4.059
201609 3.858 99.604 4.186
201612 4.072 99.380 4.428
201703 4.331 100.040 4.678
201706 4.434 100.285 4.778
201709 4.659 100.254 5.022
201712 4.877 100.213 5.259
201803 4.818 100.836 5.163
201806 4.776 101.435 5.088
201809 5.002 101.246 5.339
201812 4.825 100.906 5.167
201903 5.188 101.571 5.519
201906 5.281 102.044 5.592
201909 5.612 101.396 5.981
201912 5.804 101.063 6.206
202003 5.483 101.048 5.864
202006 5.811 100.743 6.233
202009 5.917 100.585 6.357
202012 6.016 100.241 6.485
202103 5.787 100.800 6.204
202106 5.920 101.352 6.312
202109 8.164 101.533 8.689
202112 8.019 101.776 8.514
202203 7.901 103.205 8.273
202206 7.858 104.783 8.104
202209 8.009 104.835 8.255
202212 8.340 104.666 8.610
202303 8.499 106.245 8.644
202306 8.411 106.576 8.528
202309 8.528 106.570 8.647
202312 8.495 106.461 8.623
202403 8.568 107.355 8.624
202406 8.519 107.991 8.524
202409 8.712 107.468 8.760
202412 8.994 107.128 9.072
202503 9.314 107.722 9.343
202506 9.092 108.075 9.091
202509 9.385 107.710 9.415
202512 9.713 107.200 9.791
202603 11.633 108.060 11.633

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 Multitude AG (WBO:MULT) Overvalued in 2026?

Based on GuruFocus' analysis, Multitude AG stock appears to be overvalued. The current stock price of €5.22 is trading 1.6% above its estimated GF Value™ of €5.14. GuruFocus considers Multitude AG to be Fairly Valued.

Key valuation signals for WBO:MULT:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €5.14 vs. price of €5.22 (1.6% above fair value)
  • GF Score™: 59/100 with 6 warning signs

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


Multitude AG Business Description

Other Exchanges 0R4W:UKMULT:Germany
Address Grafenauweg 8, Zug, CHE, 6300
Multitude AG is a fintech company providing digital financial and banking services to both individuals and businesses. Its reportable and operating segments are: Consumer Banking, SME Banking, and Wholesale Banking. Maximum revenue is derived from the Consumer Banking segment, which is operated under the Ferratum brand and offers digital consumer loans, credit lines, and credit card products. The SME Banking segment, which is operated under the CapitalBox brand, offers working capital and secured and non-secured lending solutions for small businesses, as well as other services such as invoice purchasing, and the Wholesale Banking, operated under the Multitude Bank brand, delivers lending and payment services to institutional clients, FinTechs, and payment service providers across Europe.
59GF Score

Get the complete analysis for WBO:MULT

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

€5.22
Price
€5.14
GF Value