Arcos Dorados Holdings (MEX:ARCO N) Cyclically Adjusted Book per Share: MXN40.18 (As of Jun. 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.

MEX:ARCO N Arcos Dorados Holdings Inc MEX:ARCO N
84 GF Score
Price MXN139.00
GF Value MXN157.96
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Arcos Dorados Holdings Cyclically Adjusted Book per Share?

Arcos Dorados Holdings MEX:ARCO N +2.96% 84 Cyclically Adjusted Book per Share is MXN40.18 as of Jun. 2026. GuruFocus rates MEX:ARCO N with a GF Score™ of 84/100 and a GF Value™ of MXN157.96 (Modestly Undervalued). The stock has 4 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and 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.

Arcos Dorados Holdings's adjusted book value per share for the three months ended in Jun. 2026 was MXN68.837. 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 MXN40.18 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Arcos Dorados Holdings's average Cyclically Adjusted Book Growth Rate was 12.60% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was -0.30% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was -3.60% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Arcos Dorados Holdings was -0.30% per year. The lowest was -6.90% per year. And the median was -5.90% per year.

As of today (2026-09-03), Arcos Dorados Holdings's current stock price is MXN139.00. Arcos Dorados Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was MXN40.18. Arcos Dorados Holdings's Cyclically Adjusted PB Ratio of today is 3.46.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Arcos Dorados Holdings was 6.58. The lowest was 1.15. And the median was 3.54.


Arcos Dorados Holdings  (MEX:ARCO N) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

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.

Arcos Dorados Holdings's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=139.00/40.18
=3.46

* 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.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Arcos Dorados Holdings was 6.58. The lowest was 1.15. And the median was 3.54.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Arcos Dorados Holdings Cyclically Adjusted Book per Share Related Terms


Arcos Dorados Holdings Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for Arcos Dorados Holdings's Cyclically Adjusted Book per Share 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.

Arcos Dorados Holdings Cyclically Adjusted Book per Share Chart

Arcos Dorados Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 36.76 31.82 32.43 43.48 39.42

Arcos Dorados Holdings Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted Book per Share 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 36.85 37.46 39.42 38.72 40.18

MEX:ARCO N vs WEN, BJRI, CBRL: Cyclically Adjusted Book per Share Comparison

For the Restaurants subindustry, Arcos Dorados Holdings'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.


Arcos Dorados Holdings Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Arcos Dorados Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Arcos Dorados Holdings's Cyclically Adjusted PB Ratio falls into.


MEX:ARCO N
84GF Score
Arcos Dorados Holdings Inc MEX:ARCO N
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Arcos Dorados Holdings Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and 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.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

For example, Arcos Dorados Holdings'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)
=68.837/333.9520*333.9520
=68.837

Current CPI (Jun. 2026) = 333.9520.

Arcos Dorados Holdings Quarterly Data

Book Value per Share CPI Adj_Book
201609 30.117 241.428 41.659
201612 33.413 241.432 46.217
201703 36.390 243.801 49.846
201706 34.292 244.955 46.751
201709 36.334 246.819 49.161
201712 44.871 246.524 60.784
201803 38.825 249.554 51.955
201806 36.321 251.989 48.135
201809 35.652 252.439 47.164
201812 36.524 251.233 48.550
201903 33.829 254.202 44.442
201906 34.787 256.143 45.354
201909 35.138 256.759 45.702
201912 37.868 256.974 49.212
202003 29.182 258.115 37.756
202006 18.267 257.797 23.663
202009 16.315 260.280 20.933
202012 18.692 260.474 23.965
202103 15.742 264.877 19.847
202106 16.590 271.696 20.391
202109 18.177 274.310 22.129
202112 21.484 278.802 25.734
202203 22.589 287.504 26.238
202206 20.418 296.311 23.012
202209 23.075 296.808 25.963
202212 29.960 296.797 33.711
202303 30.332 301.836 33.559
202306 32.849 305.109 35.954
202309 36.529 307.789 39.634
202312 41.521 306.746 45.204
202403 38.191 312.332 40.835
202406 40.816 314.175 43.385
202409 47.875 315.301 50.707
202412 50.300 315.605 53.224
202503 50.037 319.799 52.251
202506 51.862 322.561 53.693
202509 64.856 324.800 66.683
202512 65.855 324.054 67.866
202603 66.377 330.213 67.129
202606 68.837 333.952 68.837

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

What does a Cyclically Adjusted Book per Share of MXN40.18 mean?
Arcos Dorados Holdings (MEX:ARCO N) has a Cyclically Adjusted Book per Share of MXN40.18 as of Jun. 2026. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on Arcos Dorados Holdings and its competitors.
Is Arcos Dorados Holdings' Cyclically Adjusted Book per Share too high?
Arcos Dorados Holdings' current Cyclically Adjusted Book per Share is MXN40.18. Overall, Arcos Dorados Holdings has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Arcos Dorados Holdings' Cyclically Adjusted Book per Share compare to WEN and BJRI?
Arcos Dorados Holdings' Cyclically Adjusted Book per Share of MXN40.18 can be compared against companies in the Restaurants industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Book per Share for a Restaurants company?
A good Cyclically Adjusted Book per Share depends on the Restaurants industry context. However, Cyclically Adjusted Book per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Book per Share mean?
A high Cyclically Adjusted Book per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on Arcos Dorados Holdings and its competitors. Arcos Dorados Holdings's current Cyclically Adjusted Book per Share is MXN40.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arcos Dorados Holdings stock overvalued right now?
Based on GuruFocus' analysis, Arcos Dorados Holdings (MEX:ARCO N) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN157.96, compared to a current price of MXN139.00 — trading 12% below its estimated fair value. The current Cyclically Adjusted Book per Share is MXN40.18. Arcos Dorados Holdings' overall GF Score™ is 84/100 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 Book per Share calculated?
Cyclically Adjusted Book per Share is calculated from a company's financial statements. For Arcos Dorados Holdings (MEX:ARCO N), the current Cyclically Adjusted Book per Share is MXN40.18 as of Jun. 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 Arcos Dorados Holdings (MEX:ARCO N) Overvalued in 2026?

Based on GuruFocus' analysis, Arcos Dorados Holdings stock appears to be undervalued. The current stock price of MXN139.00 is trading 12% below its estimated GF Value™ of MXN157.96. GuruFocus considers Arcos Dorados Holdings to be Modestly Undervalued.

Key valuation signals for MEX:ARCO N:

  • Cyclically Adjusted Book per Share: MXN40.18
  • GF Value™: MXN157.96 vs. price of MXN139.00 (12% below fair value)
  • GF Score™: 84/100 with 4 warning signs

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


Arcos Dorados Holdings Business Description

Address Rio Negro 1338, First Floor, Montevideo, URY, 11100
Arcos Dorados Holdings Inc operates McDonald's branded restaurants in various countries and territories in Latin America and the Caribbean. The Company manages its business as distinct geographic segments and its operations are divided into three geographic divisions, as follows: Brazil, the North Latin American division, or NOLAD, which is comprised of Costa Rica, Mexico, Panama, Puerto Rico, Martinique, Guadeloupe, French Guiana and the U.S. Virgin Islands of St. Croix and St. Thomas and the South Latin American division, or SLAD, which is comprised of Argentina, Chile, Ecuador, Peru, Uruguay, Colombia, Venezuela, Trinidad and Tobago, Aruba and Curacao. Its menu includes hamburgers, McNuggets, salad, sandwiches, French fries, and others. It generates maximum revenue from Brazil.
84GF Score

Get the complete analysis for MEX:ARCO N

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

MXN139.00
Price
MXN157.96
GF Value