Rational AG (XTER:RAA) 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:RAA Rational AG XTER:RAA
91 GF Score
Price €562.00
GF Value €794.81
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Rational AG Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Rational AG  (XTER:RAA) 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.


Rational AG Cyclically Adjusted PB Ratio Related Terms


Rational AG Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Rational 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.

Rational AG Cyclically Adjusted PB Ratio Chart

Rational 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 23.38 12.32 13.86 14.75 10.83

Rational AG 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 13.00 11.56 11.56 10.51 10.71

XTER:RAA vs GEV, ETN, PH: Cyclically Adjusted PB Ratio Comparison

For the Specialty Industrial Machinery subindustry, Rational 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.


Rational AG Cyclically Adjusted PB Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Rational AG's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


XTER:RAA
91GF Score
Rational AG XTER:RAA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Rational 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.

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

For example, Rational AG'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)
=/131.3638*131.3638
=0.000

Current CPI (Jun. 2026) = 131.3638.

Rational AG Quarterly Data

Book Value per Share CPI Adj_Book
201609 31.596 101.017 41.088
201612 34.913 101.217 45.312
201703 37.894 101.417 49.084
201706 30.489 102.117 39.221
201709 33.694 102.717 43.091
201712 37.337 102.617 47.796
201803 40.022 102.917 51.084
201806 32.357 104.017 40.864
201809 35.754 104.718 44.852
201812 40.063 104.217 50.499
201903 43.231 104.217 54.492
201906 37.297 105.718 46.345
201909 41.383 106.018 51.277
201912 45.503 105.818 56.488
202003 46.992 105.718 58.392
202006 41.466 106.618 51.090
202009 44.035 105.818 54.666
202012 47.062 105.518 58.590
202103 49.114 107.518 60.007
202106 47.829 108.486 57.915
202109 51.122 109.435 61.366
202112 53.063 110.384 63.149
202203 56.249 113.968 64.835
202206 49.254 115.760 55.893
202209 53.930 118.818 59.624
202212 59.476 119.345 65.466
202303 64.053 122.402 68.742
202306 55.347 123.140 59.043
202309 59.903 124.195 63.361
202312 66.912 123.773 71.016
202403 71.813 125.038 75.446
202406 63.708 125.882 66.483
202409 69.190 126.198 72.022
202412 75.365 127.041 77.929
202503 80.399 127.779 82.654
202506 71.038 128.412 72.671
202509 76.575 129.255 77.824
202512 82.743 129.361 84.024
202603 87.933 131.258 88.004
202606 131.364 0.000

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 Rational AG (XTER:RAA) Overvalued in 2026?

Based on GuruFocus' analysis, Rational AG stock appears to be undervalued. The current stock price of €562.00 is trading 29.3% below its estimated GF Value™ of €794.81. GuruFocus considers Rational AG to be Modestly Undervalued.

Key valuation signals for XTER:RAA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €794.81 vs. price of €562.00 (29.3% below fair value)
  • GF Score™: 91/100 with 1 warning sign

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


Rational AG Business Description

Other Exchanges RTLLF:USARATIY:USA0FRJ:UK
Address Siegfried-Meister-Strasse 1, Landsberg am Lech, BY, DEU, 86899
Rational specializes in manufacturing automated multifunctional ovens for professional kitchens that replace conventional cooking appliances such as a stove, grill, and oven. Rational has produced over 1 million combi-steamers since its first combi-steamer in 1976, which are used to prepare 160 million food dishes daily. Approximately 72% of group revenue is generated from the sale of cooking appliances, mostly the iCombi Pro that was launched in May 2020 and its predecessor product. Rational has a presence in over 120 countries. The majority of revenue is earned in Europe, followed by North America and Asia.
91GF Score

Get the complete analysis for XTER:RAA

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

€562.00
Price
€794.81
GF Value