Patrizia SE (XTER:PAT) Cyclically Adjusted PB Ratio: (As of Sep. 20, 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.

XTER:PAT Patrizia SE XTER:PAT
72 GF Score
Price €6.75
GF Value €7.50
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Patrizia SE Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Patrizia SE  (XTER:PAT) 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.


Patrizia SE Cyclically Adjusted PB Ratio Related Terms


Patrizia SE Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Patrizia SE'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.

Patrizia SE Cyclically Adjusted PB Ratio Chart

Patrizia SE 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 2.15 0.91 0.65 0.58 0.56

Patrizia SE 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 0.58 0.49 0.55 0.46 0.51

XTER:PAT vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio Comparison

For the Real Estate Services subindustry, Patrizia SE'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.


Patrizia SE Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Patrizia SE's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


XTER:PAT
72GF Score
Patrizia SE XTER:PAT
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Patrizia SE 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.

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

For example, Patrizia SE'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)
=13.31/131.3638*131.3638
=13.310

Current CPI (Jun. 2026) = 131.3638.

Patrizia SE Quarterly Data

Book Value per Share CPI Adj_Book
201609 8.329 101.017 10.831
201612 8.132 101.217 10.554
201703 8.203 101.417 10.625
201706 8.391 102.117 10.794
201709 8.236 102.717 10.533
201712 8.446 102.617 10.812
201803 12.198 102.917 15.570
201806 12.412 104.017 15.675
201809 12.259 104.718 15.378
201812 12.671 104.217 15.972
201903 12.893 104.217 16.251
201906 13.317 105.718 16.548
201909 13.361 106.018 16.555
201912 13.582 105.818 16.861
202003 13.603 105.718 16.903
202006 14.382 106.618 17.720
202009 13.951 105.818 17.319
202012 14.155 105.518 17.622
202103 14.414 107.518 17.611
202106 14.659 108.486 17.750
202109 14.931 109.435 17.923
202112 14.878 110.384 17.706
202203 15.032 113.968 17.326
202206 14.903 115.760 16.912
202209 15.163 118.818 16.764
202212 15.380 119.345 16.929
202303 15.500 122.402 16.635
202306 14.817 123.140 15.806
202309 14.793 124.195 15.647
202312 13.520 123.773 14.349
202403 14.138 125.038 14.853
202406 13.938 125.882 14.545
202409 13.705 126.198 14.266
202412 12.974 127.041 13.415
202503 13.009 127.779 13.374
202506 12.587 128.412 12.876
202509 129.255 0.000
202512 129.361 0.000
202603 13.572 131.258 13.583
202606 13.310 131.364 13.310

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 Patrizia SE (XTER:PAT) Overvalued in 2026?

Based on GuruFocus' analysis, Patrizia SE stock appears to be undervalued. The current stock price of €6.75 is trading 10% below its estimated GF Value™ of €7.50. GuruFocus considers Patrizia SE to be Modestly Undervalued.

Key valuation signals for XTER:PAT:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €7.50 vs. price of €6.75 (10% below fair value)
  • GF Score™: 72/100 with 6 warning signs

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


Patrizia SE Business Description

Other Exchanges 0FJC:UKP1Z:Austria
Address Fuggerstrasse 20, Augsburg, BY, DEU, 86150
PATRIZIA SE is a European independent real asset investment manager. The company provides investment opportunities in real assets for institutional, semi-professional, and private investors, with a focus on real estate and infrastructure. Its investment activities are aligned with sectors related to digital, urban, energy, and living-related developments and trends.
72GF Score

Get the complete analysis for XTER:PAT

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

€6.75
Price
€7.50
GF Value