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Partners Group Holding AGXSWX:PGHN +1.38%73 Cyclically Adjusted PB Ratio is 8.25 as of Aug. 09, 2026, which is 52% below its 10-year median of 17.05. GuruFocus rates XSWX:PGHN with a GF Score™ of 73/100 and a GF Value™ of CHF1,373.10 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,012 Asset Management companies, Partners Group Holding AG ranks worse than 96.25% on this metric.
The historical rank and industry rank for Partners Group Holding AG's Cyclically Adjusted PB Ratio or its related term are showing as below:
XSWX:PGHN'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 7.34 Med: 17.05 Max: 30.13
Current: 8.25
During the past 13 years, Partners Group Holding AG's highest Cyclically Adjusted PB Ratio was 30.13. The lowest was 7.34. And the median was 17.05.
XSWX:PGHN's Cyclically Adjusted PB Ratio is ranked worse than 96.25% of 1012
companies
in the Asset Management industry
Industry Median: 0.87
vs XSWX:PGHN: 8.25
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.
Partners Group Holding AG's adjusted book value per share data of for the fiscal year that ended in Dec25 was CHF84.831. 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 CHF88.79 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Partners Group Holding AG (XSWX:PGHN) 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.
Partners Group Holding AG Cyclically Adjusted PB Ratio Related Terms
Partners Group Holding AG Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Partners Group 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.
Partners Group Holding AG Cyclically Adjusted PB Ratio Chart
XSWX:PGHN vs BLK, BX, KKR: Cyclically Adjusted PB Ratio Comparison
For the Asset Management subindustry, Partners Group 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.
Partners Group Holding AG Cyclically Adjusted PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Partners Group Holding AG's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Partners Group Holding AG's Cyclically Adjusted PB Ratio falls into.
Partners Group 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.
* 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 8.25 mean?
Partners Group Holding AG (XSWX:PGHN) has a Cyclically Adjusted PB Ratio of 8.25 as of Aug. 09, 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 Partners Group Holding AG and its competitors. This is 52% below median its historical median of 17.05. Over the past decade, Partners Group Holding AG's Cyclically Adjusted PB Ratio has ranged from 7.34 to 30.13. According to the industry distribution chart, Partners Group Holding AG ranks #974 out of 1012 companies in the Asset Management industry, placing it in the top 96.2%.
Is Partners Group Holding AG's Cyclically Adjusted PB Ratio too high?
Partners Group Holding AG's current Cyclically Adjusted PB Ratio of 8.25 is 52% below median its 10-year median of 17.05. Over the past 10 years, this metric has ranged from a low of 7.34 to a high of 30.13. The Asset Management industry median Cyclically Adjusted PB Ratio is 0.87. Partners Group Holding AG's value of 8.25 is 848.3% above this industry median. Based on the distribution chart, Partners Group Holding AG ranks #974 out of 1012 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Partners Group Holding AG has a GF Score™ of 73/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Partners Group Holding AG's Cyclically Adjusted PB Ratio compare to BLK and BX?
According to the Asset Management industry distribution chart, Partners Group Holding AG ranks #974 out of 1012 companies for Cyclically Adjusted PB Ratio. This places Partners Group Holding AG in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.87. Partners Group Holding AG's value of 8.25 is 848.3% above this benchmark. Historically, Partners Group Holding AG's own Cyclically Adjusted PB Ratio has ranged from 7.34 to 30.13 over the past decade. While the company's 10-year median is 17.05 vs. the industry median of 0.87, Partners Group 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 Asset Management company?
The median Cyclically Adjusted PB Ratio among Asset Management companies is 0.87, based on 1,012 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. Partners Group Holding AG's current Cyclically Adjusted PB Ratio of 8.25 is 848.3% 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 Partners Group Holding AG and its competitors. For the Asset Management industry, the median Cyclically Adjusted PB Ratio is 0.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Partners Group Holding AG's current Cyclically Adjusted PB Ratio is 8.25, which is 52% below median its own 10-year median of 17.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Partners Group Holding AG stock overvalued right now?
Based on GuruFocus' analysis, Partners Group Holding AG (XSWX:PGHN) is currently considered Significantly Undervalued. The stock's GF Value™ is CHF1,373.10, compared to a current price of CHF732.40 — trading 46.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 8.25, which is 52% below median its 10-year median of 17.05 and 848.3% above the Asset Management industry median of 0.87. Partners Group Holding AG's overall GF Score™ is 73/100 with 4 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 Partners Group Holding AG (XSWX:PGHN), the current Cyclically Adjusted PB Ratio is 8.25 as of Aug. 09, 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 Partners Group Holding AG (XSWX:PGHN) Overvalued in 2026?
Based on GuruFocus' analysis, Partners Group Holding AG stock appears to be undervalued.
The current stock price of CHF732.40 is trading 46.7% below its estimated GF Value™ of CHF1,373.10.
GuruFocus considers Partners Group Holding AG to be Significantly Undervalued.
Key valuation signals for XSWX:PGHN:
Cyclically Adjusted PB Ratio: 8.25 (52% below median its 10-year median of 17.05)
GF Value™: CHF1,373.10 vs. price of CHF732.40 (46.7% below fair value)
Industry Position: 848.3% above the Asset Management median (#974 of 1012)
No single metric tells the full story. See the XSWX:PGHN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Partners Group is a Swiss-based global alternative asset manager founded in 1996. It manages funds invested in private equity, private credit, real estate, and infrastructure. Most of Partners Group's assets are invested in Europe and the Americas, with a smaller exposure to Asia and the Middle East. Partners Group operates a differentiated business model, offering bespoke client solutions through diversified portfolios tailored to each client individually, semiliquid open-ended funds, alongside traditional closed-end funds.
73GF Score
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