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Kardex Holding AGXSWX:KARN -0.83%95 Cyclically Adjusted PB Ratio is 8.83 as of Jul. 21, 2026, which is 3% below its 10-year median of 9.10. GuruFocus rates XSWX:KARN with a GF Score™ of 95/100 and a GF Value™ of CHF308.60 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 2,286 Industrial Products companies, Kardex Holding AG ranks worse than 90.9% on this metric.
The historical rank and industry rank for Kardex Holding AG's Cyclically Adjusted PB Ratio or its related term are showing as below:
XSWX:KARN'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 4.65 Med: 9.1 Max: 16.44
Current: 8.91
During the past 13 years, Kardex Holding AG's highest Cyclically Adjusted PB Ratio was 16.44. The lowest was 4.65. And the median was 9.10.
XSWX:KARN's Cyclically Adjusted PB Ratio is ranked worse than 90.9% of 2286
companies
in the Industrial Products industry
Industry Median: 2.115
vs XSWX:KARN: 8.91
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.
Kardex Holding AG's adjusted book value per share data of for the fiscal year that ended in Dec25 was CHF32.455. 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 CHF26.94 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Kardex Holding AG (XSWX:KARN) 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.
Kardex Holding AG Cyclically Adjusted PB Ratio Related Terms
Kardex Holding AG Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Kardex Holding 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.
Kardex Holding AG Cyclically Adjusted PB Ratio Chart
XSWX:KARN vs GEV, ETN, PH: Cyclically Adjusted PB Ratio Comparison
For the Specialty Industrial Machinery subindustry, Kardex Holding 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.
Kardex Holding AG Cyclically Adjusted PB Ratio vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Kardex Holding AG's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Kardex Holding AG's Cyclically Adjusted PB Ratio falls into.
Kardex Holding 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.
Kardex Holding AG's Cyclically Adjusted PB Ratio for today is calculated as
* 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.
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 8.83 mean?
Kardex Holding AG (XSWX:KARN) has a Cyclically Adjusted PB Ratio of 8.83 as of Jul. 21, 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 Kardex Holding AG and its competitors. This is near median its historical median of 9.10. Over the past decade, Kardex Holding AG's Cyclically Adjusted PB Ratio has ranged from 4.65 to 16.44. According to the industry distribution chart, Kardex Holding AG ranks #2078 out of 2286 companies in the Industrial Products industry, placing it in the top 90.9%.
Is Kardex Holding AG's Cyclically Adjusted PB Ratio too high?
Kardex Holding AG's current Cyclically Adjusted PB Ratio of 8.83 is near median its 10-year median of 9.10. Over the past 10 years, this metric has ranged from a low of 4.65 to a high of 16.44. The Industrial Products industry median Cyclically Adjusted PB Ratio is 2.12. Kardex Holding AG's value of 8.83 is 317.5% above this industry median. Based on the distribution chart, Kardex Holding AG ranks #2078 out of 2286 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Kardex Holding AG has a GF Score™ of 95/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kardex Holding AG's Cyclically Adjusted PB Ratio compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Kardex Holding AG ranks #2078 out of 2286 companies for Cyclically Adjusted PB Ratio. This places Kardex Holding AG in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.12. Kardex Holding AG's value of 8.83 is 317.5% above this benchmark. Historically, Kardex Holding AG's own Cyclically Adjusted PB Ratio has ranged from 4.65 to 16.44 over the past decade. While the company's 10-year median is 9.10 vs. the industry median of 2.12, Kardex Holding AG 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 an Industrial Products company?
The median Cyclically Adjusted PB Ratio among Industrial Products companies is 2.12, based on 2,286 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. Kardex Holding AG's current Cyclically Adjusted PB Ratio of 8.83 is 317.5% 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 Kardex Holding AG and its competitors. For the Industrial Products industry, the median Cyclically Adjusted PB Ratio is 2.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kardex Holding AG's current Cyclically Adjusted PB Ratio is 8.83, which is near median its own 10-year median of 9.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kardex Holding AG stock overvalued right now?
Based on GuruFocus' analysis, Kardex Holding AG (XSWX:KARN) is currently considered Modestly Undervalued. The stock's GF Value™ is CHF308.60, compared to a current price of CHF238.00 — trading 22.9% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 8.83, which is near median its 10-year median of 9.10 and 317.5% above the Industrial Products industry median of 2.12. Kardex Holding AG's overall GF Score™ is 95/100 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 Kardex Holding AG (XSWX:KARN), the current Cyclically Adjusted PB Ratio is 8.83 as of Jul. 21, 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 Kardex Holding AG (XSWX:KARN) Overvalued in 2026?
Based on GuruFocus' analysis, Kardex Holding AG stock appears to be undervalued.
The current stock price of CHF238.00 is trading 22.9% below its estimated GF Value™ of CHF308.60.
GuruFocus considers Kardex Holding AG to be Modestly Undervalued.
Key valuation signals for XSWX:KARN:
Cyclically Adjusted PB Ratio: 8.83 (near median its 10-year median of 9.10)
GF Value™: CHF308.60 vs. price of CHF238.00 (22.9% below fair value)
Industry Position: 317.5% above the Industrial Products median (#2078 of 2286)
No single metric tells the full story. See the XSWX:KARN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kardex Holding AG is a partner for intralogistics solutions. The Group offers premium automated products, standardized systems, and life cycle services and provides dynamic storage and retrieval systems, integrated material handling systems, small parts storage systems including multi-shuttle technology, automated high-bay warehouses, and flexible and modular storage and order fulfillment solutions as an AutoStore partner. It is organized into two reporting segments: Automated Products, which generates maximum revenue, and Standardized Systems. Automated Products consists of the Business Unit Kardex Remstar, while Standardized Systems includes the Business Units Kardex Mlog, Kardex AS Solutions, and Rocket Solution. The company operates in Europe, the Americas, and Asia-Pacific.
95GF Score
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