Rockwool AS (XTER:R902) Cyclically Adjusted PB Ratio: 0.79 (As of Aug. 29, 2026) — 75% Below Median

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:R902 Rockwool AS XTER:R902
67 GF Score
Price €28.34
GF Value €30.48
Valuation Fairly Valued
! 4 Warning Signs
View Full Analysis

What is Rockwool AS Cyclically Adjusted PB Ratio?

Rockwool AS XTER:R902 67 Cyclically Adjusted PB Ratio is 0.79 as of Aug. 29, 2026, which is 75% below its 10-year median of 3.19. GuruFocus rates XTER:R902 with a GF Score™ of 67/100 and a GF Value™ of €30.48 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,239 Construction companies, Rockwool AS ranks worse than 74.5% on this metric.

As of today (2026-08-29), Rockwool AS's current share price is €28.34. Rockwool AS's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was €36.07. Rockwool AS's Cyclically Adjusted PB Ratio for today is 0.79.

The historical rank and industry rank for Rockwool AS's Cyclically Adjusted PB Ratio or its related term are showing as below:

XTER:R902' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.79   Med: 3.19   Max: 5.35
Current: 2.5

During the past years, Rockwool AS's highest Cyclically Adjusted PB Ratio was 5.35. The lowest was 1.79. And the median was 3.19.

XTER:R902's Cyclically Adjusted PB Ratio is ranked worse than
74.5% of 1239 companies
in the Construction industry
Industry Median: 1.16 vs XTER:R902: 2.50

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.

Rockwool AS's adjusted book value per share data for the three months ended in Jun. 2026 was €13.580. 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 €36.07 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Rockwool AS  (XTER:R902) 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.


Rockwool AS Cyclically Adjusted PB Ratio Related Terms


Rockwool AS Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Rockwool AS'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.

Rockwool AS Cyclically Adjusted PB Ratio Chart

Rockwool AS 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 4.10 2.40 2.72 3.21 2.62

Rockwool AS 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 3.57 2.79 2.62 2.17 2.43

XTER:R902 vs : Cyclically Adjusted PB Ratio Comparison

For the Building Products & Equipment subindustry, Rockwool AS'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.


Rockwool AS Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Rockwool AS's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


XTER:R902
67GF Score
Rockwool AS XTER:R902
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Rockwool AS 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.

Rockwool AS's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=28.34/36.07
=0.79

* 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.

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

For example, Rockwool AS'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)
=13.58/122.9700*122.9700
=13.580

Current CPI (Jun. 2026) = 122.9700.

Rockwool AS Quarterly Data

Book Value per Share CPI Adj_Book
201609 6.777 100.200 8.317
201612 7.061 100.300 8.657
201703 7.270 101.200 8.834
201706 7.048 101.200 8.564
201709 7.206 101.800 8.705
201712 7.704 101.300 9.352
201803 7.893 101.700 9.544
201806 7.939 102.300 9.543
201809 8.299 102.400 9.966
201812 8.553 102.100 10.301
201903 8.968 102.900 10.717
201906 8.927 102.900 10.668
201909 9.374 102.900 11.202
201912 9.652 102.900 11.535
202003 9.568 103.300 11.390
202006 9.327 103.200 11.114
202009 9.388 103.500 11.154
202012 9.679 103.400 11.511
202103 10.115 104.300 11.926
202106 10.106 105.000 11.836
202109 10.536 105.800 12.246
202112 11.102 106.600 12.807
202203 11.384 109.900 12.738
202206 11.932 113.600 12.916
202209 12.187 116.400 12.875
202212 11.959 115.900 12.689
202303 12.126 117.300 12.712
202306 12.094 116.400 12.777
202309 12.506 117.400 13.099
202312 12.999 116.700 13.697
202403 13.428 118.400 13.946
202406 13.562 118.500 14.074
202409 13.946 118.900 14.423
202412 14.593 118.900 15.093
202503 15.209 120.200 15.559
202506 14.464 120.700 14.736
202509 14.738 121.600 14.904
202512 13.238 121.200 13.431
202603 13.680 121.680 13.825
202606 13.580 122.970 13.580

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.

What does a Cyclically Adjusted PB Ratio of 0.79 mean?
Rockwool AS (XTER:R902) has a Cyclically Adjusted PB Ratio of 0.79 as of Aug. 29, 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 Rockwool AS and its competitors. This is 75% below median its historical median of 3.19. Over the past decade, Rockwool AS's Cyclically Adjusted PB Ratio has ranged from 1.79 to 5.35. According to the industry distribution chart, Rockwool AS ranks #923 out of 1239 companies in the Construction industry, placing it in the top 74.5%.
Is Rockwool AS's Cyclically Adjusted PB Ratio too high?
Rockwool AS's current Cyclically Adjusted PB Ratio of 0.79 is 75% below median its 10-year median of 3.19. Over the past 10 years, this metric has ranged from a low of 1.79 to a high of 5.35. The Construction industry median Cyclically Adjusted PB Ratio is 1.16. Rockwool AS's value of 0.79 is 31.9% below this industry median. Based on the distribution chart, Rockwool AS ranks #923 out of 1239 companies in the Construction industry, which is below the industry midpoint. Overall, Rockwool AS has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Rockwool AS's Cyclically Adjusted PB Ratio compare to ?
According to the Construction industry distribution chart, Rockwool AS ranks #923 out of 1239 companies for Cyclically Adjusted PB Ratio. This places Rockwool AS in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.16. Rockwool AS's value of 0.79 is 31.9% below this benchmark. Historically, Rockwool AS's own Cyclically Adjusted PB Ratio has ranged from 1.79 to 5.35 over the past decade. While the company's 10-year median is 3.19 vs. the industry median of 1.16, Rockwool AS has consistently been below 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 a Construction company?
The median Cyclically Adjusted PB Ratio among Construction companies is 1.16, based on 1,239 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. Rockwool AS's current Cyclically Adjusted PB Ratio of 0.79 is 31.9% below 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 Rockwool AS and its competitors. For the Construction industry, the median Cyclically Adjusted PB Ratio is 1.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Rockwool AS's current Cyclically Adjusted PB Ratio is 0.79, which is 75% below median its own 10-year median of 3.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rockwool AS stock overvalued right now?
Based on GuruFocus' analysis, Rockwool AS (XTER:R902) is currently considered Fairly Valued. The stock's GF Value™ is €30.48, compared to a current price of €28.34 — trading 7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.79, which is 75% below median its 10-year median of 3.19 and 31.9% below the Construction industry median of 1.16. Rockwool AS's overall GF Score™ is 67/100 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 Rockwool AS (XTER:R902), the current Cyclically Adjusted PB Ratio is 0.79 as of Aug. 29, 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 Rockwool AS (XTER:R902) Overvalued in 2026?

Based on GuruFocus' analysis, Rockwool AS stock appears to be undervalued. The current stock price of €28.34 is trading 7% below its estimated GF Value™ of €30.48. GuruFocus considers Rockwool AS to be Fairly Valued.

Key valuation signals for XTER:R902:

  • Cyclically Adjusted PB Ratio: 0.79 (75% below median its 10-year median of 3.19)
  • GF Value™: €30.48 vs. price of €28.34 (7% below fair value)
  • GF Score™: 67/100 with 4 warning signs
  • Industry Position: 31.9% below the Construction median (#923 of 1239)

No single metric tells the full story. See the XTER:R902 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Rockwool AS Business Description

Comparable Companies
Address Hovedgaden 584, Hedehusene, DNK, 2640
Rockwool AS manufactures and sells building materials, including insulation and roofing systems. The company organizes itself into two segments based on the product: Insulation and Systems. The Insulation segment, sells building, industrial, and technical insulation and external thermal insulation wall systems to the construction industry. The Systems business sells acoustic ceilings and wall systems, external cladding systems, horticultural substrate solutions, engineered fiber solutions, and noise and vibration control to the construction and automotive industries. The majority of revenue is from the Insulation Segment. The majority of sales come from Europe.
67GF Score

Get the complete analysis for XTER:R902

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

€28.34
Price
€30.48
GF Value