ACSAF (ACS Actividades de Construccion y Servicios) Cyclically Adjusted PB Ratio: 6.68 (As of Jul. 08, 2026) — 158% Above Median


ACSAF ACS Actividades de Construccion y Servicios SA ACSAF
70 GF Score
Price $140.55
GF Value $79.82
Valuation Significantly Overvalued
! 4 Warning Signs
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What is ACS Actividades de Construccion y Servicios Cyclically Adjusted PB Ratio?

ACS Actividades de Construccion y Servicios ACSAF 70 Cyclically Adjusted PB Ratio is 6.68 as of Jul. 08, 2026, which is 158% above its 10-year median of 2.59. GuruFocus rates ACSAF with a GF Score™ of 70/100 and a GF Value™ of $79.82 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,357 Construction companies, ACS Actividades de Construccion y Servicios ranks worse than 92.26% on this metric.

As of today (2026-07-08), ACS Actividades de Construccion y Servicios's current share price is $140.55. ACS Actividades de Construccion y Servicios's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $21.03. ACS Actividades de Construccion y Servicios's Cyclically Adjusted PB Ratio for today is 6.68.

The historical rank and industry rank for ACS Actividades de Construccion y Servicios's Cyclically Adjusted PB Ratio or its related term are showing as below:

ACSAF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.11   Med: 2.59   Max: 7.76
Current: 6.81

During the past years, ACS Actividades de Construccion y Servicios's highest Cyclically Adjusted PB Ratio was 7.76. The lowest was 1.11. And the median was 2.59.

ACSAF's Cyclically Adjusted PB Ratio is ranked worse than
92.26% of 1357 companies
in the Construction industry
Industry Median: 1.2 vs ACSAF: 6.81

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.

ACS Actividades de Construccion y Servicios's adjusted book value per share data for the three months ended in Mar. 2026 was $21.678. 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 $21.03 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


ACS Actividades de Construccion y Servicios  (OTCPK:ACSAF) 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.


ACS Actividades de Construccion y Servicios Cyclically Adjusted PB Ratio Related Terms


ACS Actividades de Construccion y Servicios Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for ACS Actividades de Construccion y Servicios'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.

ACS Actividades de Construccion y Servicios Cyclically Adjusted PB Ratio Chart

ACS Actividades de Construccion y Servicios 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 1.87 1.87 2.58 2.92 4.89

ACS Actividades de Construccion y Servicios Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 3.15 3.47 3.99 4.89 5.93

ACSAF vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, ACS Actividades de Construccion y Servicios'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.


ACS Actividades de Construccion y Servicios Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, ACS Actividades de Construccion y Servicios's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where ACS Actividades de Construccion y Servicios's Cyclically Adjusted PB Ratio falls into.


ACSAF
70GF Score
ACS Actividades de Construccion y Servicios SA ACSAF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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ACS Actividades de Construccion y Servicios 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.

ACS Actividades de Construccion y Servicios's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=140.55/21.03
=6.68

* 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.

ACS Actividades de Construccion y Servicios's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, ACS Actividades de Construccion y Servicios's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=21.678/129.8600*129.8600
=21.678

Current CPI (Mar. 2026) = 129.8600.

ACS Actividades de Construccion y Servicios Quarterly Data

Book Value per Share CPI Adj_Book
201606 11.596 100.333 15.009
201609 12.099 99.737 15.753
201612 12.163 101.842 15.509
201703 13.428 100.896 17.283
201706 13.269 101.848 16.918
201709 14.545 101.524 18.605
201712 8.005 102.975 10.095
201803 10.209 102.122 12.982
201806 8.475 104.165 10.566
201809 9.876 103.818 12.353
201812 16.051 104.193 20.005
201903 16.380 103.488 20.554
201906 14.859 104.612 18.445
201909 15.780 103.905 19.722
201912 16.197 105.015 20.029
202003 14.938 103.469 18.748
202006 13.832 104.254 17.229
202009 14.833 103.521 18.607
202012 15.107 104.456 18.781
202103 15.575 104.857 19.289
202106 14.958 107.102 18.136
202109 14.114 107.669 17.023
202112 25.953 111.298 30.281
202203 26.169 115.153 29.511
202206 23.781 118.044 26.161
202209 21.825 117.221 24.178
202212 22.754 117.650 25.115
202303 22.742 118.948 24.828
202306 22.169 120.278 23.935
202309 20.584 121.343 22.029
202312 22.301 121.300 23.875
202403 21.559 122.762 22.806
202406 19.839 124.409 20.708
202409 18.996 123.121 20.036
202412 19.374 124.753 20.167
202503 18.593 125.531 19.234
202506 18.904 127.251 19.292
202509 21.071 126.840 21.573
202512 21.708 128.400 21.955
202603 21.678 129.860 21.678

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 6.68 mean?
ACS Actividades de Construccion y Servicios (ACSAF) has a Cyclically Adjusted PB Ratio of 6.68 as of Jul. 08, 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 ACS Actividades de Construccion y Servicios and its competitors. This is 158% above median its historical median of 2.59. Over the past decade, ACS Actividades de Construccion y Servicios' Cyclically Adjusted PB Ratio has ranged from 1.11 to 7.76. According to the industry distribution chart, ACS Actividades de Construccion y Servicios ranks #1252 out of 1357 companies in the Construction industry, placing it in the top 92.3%.
Is ACS Actividades de Construccion y Servicios' Cyclically Adjusted PB Ratio too high?
ACS Actividades de Construccion y Servicios' current Cyclically Adjusted PB Ratio of 6.68 is 158% above median its 10-year median of 2.59. Over the past 10 years, this metric has ranged from a low of 1.11 to a high of 7.76. The Construction industry median Cyclically Adjusted PB Ratio is 1.20. ACS Actividades de Construccion y Servicios' value of 6.68 is 456.7% above this industry median. Based on the distribution chart, ACS Actividades de Construccion y Servicios ranks #1252 out of 1357 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, ACS Actividades de Construccion y Servicios has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ACS Actividades de Construccion y Servicios' Cyclically Adjusted PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, ACS Actividades de Construccion y Servicios ranks #1252 out of 1357 companies for Cyclically Adjusted PB Ratio. This places ACS Actividades de Construccion y Servicios in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.20. ACS Actividades de Construccion y Servicios' value of 6.68 is 456.7% above this benchmark. Historically, ACS Actividades de Construccion y Servicios' own Cyclically Adjusted PB Ratio has ranged from 1.11 to 7.76 over the past decade. While the company's 10-year median is 2.59 vs. the industry median of 1.20, ACS Actividades de Construccion y Servicios has consistently been above 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 1.20, based on 1,357 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. ACS Actividades de Construccion y Servicios's current Cyclically Adjusted PB Ratio of 6.68 is 456.7% above 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 ACS Actividades de Construccion y Servicios and its competitors. For the Construction industry, the median Cyclically Adjusted PB Ratio is 1.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ACS Actividades de Construccion y Servicios's current Cyclically Adjusted PB Ratio is 6.68, which is 158% above median its own 10-year median of 2.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ACS Actividades de Construccion y Servicios stock overvalued right now?
Based on GuruFocus' analysis, ACS Actividades de Construccion y Servicios (ACSAF) is currently considered Significantly Overvalued. The stock's GF Value™ is $79.82, compared to a current price of $140.55 — trading 76.1% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 6.68, which is 158% above median its 10-year median of 2.59 and 456.7% above the Construction industry median of 1.20. ACS Actividades de Construccion y Servicios' overall GF Score™ is 70/100 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 ACS Actividades de Construccion y Servicios (ACSAF), the current Cyclically Adjusted PB Ratio is 6.68 as of Jul. 08, 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 ACS Actividades de Construccion y Servicios (ACSAF) Overvalued in 2026?

Based on GuruFocus' analysis, ACS Actividades de Construccion y Servicios stock appears to be overvalued. The current stock price of $140.55 is trading 76.1% above its estimated GF Value™ of $79.82. GuruFocus considers ACS Actividades de Construccion y Servicios to be Significantly Overvalued.

Key valuation signals for ACSAF:

  • Cyclically Adjusted PB Ratio: 6.68 (158% above median its 10-year median of 2.59)
  • GF Value™: $79.82 vs. price of $140.55 (76.1% above fair value)
  • GF Score™: 70/100 with 4 warning signs
  • Industry Position: 456.7% above the Construction median (#1252 of 1357)

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


ACS Actividades de Construccion y Servicios Business Description

Address 102, Avenida Pio XII, Madrid, ESP, 28036
ACS Actividades de Construccion y Servicios SA completes construction and service activities for infrastructure and energy projects. In addition to infrastructure-related developments, the company constructs buildings and projects related to the mining sector. It has four operating segments: construction (majority of total revenue), Concessions, Services (which offers comprehensive maintenance services for buildings, public places and organisations) and corporate. Its services revolve around industrial engineering and operating energy, industrial, and mobility infrastructures. Additional sales are generated from aftermarket services and contracts to perform upkeep on existing structures. Approximately half of total revenue derives from the Americas.
70GF Score

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

$140.55
Price
$79.82
GF Value