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Roche Holding AGXSWX:RO -1.03%73 Cyclically Adjusted Price-to-FCF is 20.69 as of Sep. 22, 2026, which is 9% above its 10-year median of 18.91. GuruFocus rates XSWX:RO with a GF Score™ of 73/100 and a GF Value™ of CHF274.23 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 328 Drug Manufacturers companies, Roche Holding AG ranks better than 60.67% on this metric.
The historical rank and industry rank for Roche Holding AG's Cyclically Adjusted Price-to-FCF or its related term are showing as below:
XSWX:RO'
s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 13.26 Med: 18.91 Max: 25.53
Current: 20.17
During the past 13 years, Roche Holding AG's highest Cyclically Adjusted Price-to-FCF was 25.53. The lowest was 13.26. And the median was 18.91.
XSWX:RO's Cyclically Adjusted Price-to-FCF is ranked better than 60.67% of 328
companies
in the Drug Manufacturers industry
Industry Median: 27.505
vs XSWX:RO: 20.17
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 Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.
Roche Holding AG's adjusted free cash flow per share data of for the fiscal year that ended in Dec25 was CHF17.537. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is CHF18.04 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Roche Holding AG (XSWX:RO) Cyclically Adjusted Price-to-FCF Explanation
Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow 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 Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.
Roche Holding AG Cyclically Adjusted Price-to-FCF Related Terms
Roche Holding AG Cyclically Adjusted Price-to-FCF Historical Data
* Premium members only.
The historical data trend for Roche Holding AG's Cyclically Adjusted Price-to-FCF 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.
Roche Holding AG Cyclically Adjusted Price-to-FCF Chart
XSWX:RO vs LLY, JNJ, ABBV: Cyclically Adjusted Price-to-FCF Comparison
For the Drug Manufacturers - General subindustry, Roche Holding AG's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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.
Roche Holding AG Cyclically Adjusted Price-to-FCF vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Roche Holding AG's Cyclically Adjusted Price-to-FCF distribution charts can be found below:
* The bar in red indicates where Roche Holding AG's Cyclically Adjusted Price-to-FCF falls into.
Roche Holding AG Cyclically Adjusted Price-to-FCF Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF 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 Price-to-FCF.
Roche Holding AG's Cyclically Adjusted Price-to-FCF 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 Price-to-FCF of 20.69 mean?
Roche Holding AG (XSWX:RO) has a Cyclically Adjusted Price-to-FCF of 20.69 as of Sep. 22, 2026. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF per share over a 10-year period. View historical data on Roche Holding AG and its competitors. This is near median its historical median of 18.91. Over the past decade, Roche Holding AG's Cyclically Adjusted Price-to-FCF has ranged from 13.26 to 25.53. According to the industry distribution chart, Roche Holding AG ranks #129 out of 328 companies in the Drug Manufacturers industry, placing it in the top 39.3%.
Is Roche Holding AG's Cyclically Adjusted Price-to-FCF too high?
Roche Holding AG's current Cyclically Adjusted Price-to-FCF of 20.69 is near median its 10-year median of 18.91. Over the past 10 years, this metric has ranged from a low of 13.26 to a high of 25.53. The Drug Manufacturers industry median Cyclically Adjusted Price-to-FCF is 27.51. Roche Holding AG's value of 20.69 is 24.8% below this industry median. Based on the distribution chart, Roche Holding AG ranks #129 out of 328 companies in the Drug Manufacturers industry, which is above the industry midpoint. Overall, Roche Holding AG has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Roche Holding AG's Cyclically Adjusted Price-to-FCF compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Roche Holding AG ranks #129 out of 328 companies for Cyclically Adjusted Price-to-FCF. This puts Roche Holding AG in the upper half of its industry. The industry median Cyclically Adjusted Price-to-FCF is 27.51. Roche Holding AG's value of 20.69 is 24.8% below this benchmark. Historically, Roche Holding AG's own Cyclically Adjusted Price-to-FCF has ranged from 13.26 to 25.53 over the past decade. While the company's 10-year median is 18.91 vs. the industry median of 27.51, Roche Holding AG 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 Price-to-FCF for a Drug Manufacturers company?
The median Cyclically Adjusted Price-to-FCF among Drug Manufacturers companies is 27.51, based on 328 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted Price-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted Price-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Roche Holding AG's current Cyclically Adjusted Price-to-FCF of 20.69 is 24.8% 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 Price-to-FCF mean?
A high Cyclically Adjusted Price-to-FCF can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF per share over a 10-year period. View historical data on Roche Holding AG and its competitors. For the Drug Manufacturers industry, the median Cyclically Adjusted Price-to-FCF is 27.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Roche Holding AG's current Cyclically Adjusted Price-to-FCF is 20.69, which is near median its own 10-year median of 18.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Roche Holding AG stock overvalued right now?
Based on GuruFocus' analysis, Roche Holding AG (XSWX:RO) is currently considered Significantly Overvalued. The stock's GF Value™ is CHF274.23, compared to a current price of CHF373.20 — trading 36.1% above its estimated fair value. The current Cyclically Adjusted Price-to-FCF is 20.69, which is near median its 10-year median of 18.91 and 24.8% below the Drug Manufacturers industry median of 27.51. Roche Holding AG's overall GF Score™ is 73/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Price-to-FCF calculated?
Cyclically Adjusted Price-to-FCF is calculated from a company's financial statements. For Roche Holding AG (XSWX:RO), the current Cyclically Adjusted Price-to-FCF is 20.69 as of Sep. 22, 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 Roche Holding AG (XSWX:RO) Overvalued in 2026?
Based on GuruFocus' analysis, Roche Holding AG stock appears to be overvalued.
The current stock price of CHF373.20 is trading 36.1% above its estimated GF Value™ of CHF274.23.
GuruFocus considers Roche Holding AG to be Significantly Overvalued.
Key valuation signals for XSWX:RO:
Cyclically Adjusted Price-to-FCF: 20.69 (near median its 10-year median of 18.91)
GF Value™: CHF274.23 vs. price of CHF373.20 (36.1% above fair value)
Industry Position: 24.8% below the Drug Manufacturers median (#129 of 328)
No single metric tells the full story. See the XSWX:RO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Roche is a Swiss biopharmaceutical and diagnostic company. The firm's bestselling pharmaceutical products include a variety of oncology therapies from acquired partner Genentech, and its diagnostics group was bolstered by the acquisition of Ventana in 2008. Oncology products account for 40% of pharmaceutical sales, and centralized and point-of-care diagnostics for two-thirds of diagnostic-related sales.
73GF Score
Get the complete analysis for XSWX:RO
Cyclically Adjusted Price-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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