AMFPY (Amplifon SpA) Cyclically Adjusted PB Ratio: (As of Sep. 22, 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.
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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.

AMFPY Amplifon SpA AMFPY
78 GF Score
Price $46.67
GF Value $95.08
! 6 Warning Signs
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What is Amplifon SpA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Amplifon SpA  (OTCPK:AMFPY) 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.


Amplifon SpA Cyclically Adjusted PB Ratio Related Terms


Amplifon SpA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Amplifon SpA'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.

Amplifon SpA Cyclically Adjusted PB Ratio Chart

Amplifon SpA 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 - - - - 4.80

Amplifon SpA 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 - 5.03 4.99 1.97 2.45

AMFPY vs MCK, COR, CAH: Cyclically Adjusted PB Ratio Comparison

For the Medical Distribution subindustry, Amplifon SpA'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.


Amplifon SpA Cyclically Adjusted PB Ratio vs Medical Distribution Industry

For the Medical Distribution industry and Healthcare sector, Amplifon SpA's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


AMFPY
78GF Score
Amplifon SpA AMFPY
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Amplifon SpA 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.

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

For example, Amplifon SpA'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)
=26.057/126.4000*126.4000
=26.057

Current CPI (Jun. 2026) = 126.4000.

Amplifon SpA Quarterly Data

Book Value per Share CPI Adj_Book
201609 10.809 100.100 13.649
201612 10.731 100.300 13.523
201703 11.338 101.000 14.189
201706 11.667 101.100 14.587
201709 11.862 101.200 14.816
201712 12.895 101.200 16.106
201803 12.060 101.800 14.974
201806 11.690 102.400 14.430
201809 11.810 102.600 14.550
201812 12.354 102.300 15.264
201903 12.788 102.800 15.724
201906 12.814 103.100 15.710
201909 12.465 102.900 15.312
201912 14.008 102.800 17.224
202003 13.101 102.900 16.093
202006 14.066 102.900 17.278
202009 15.188 102.300 18.766
202012 17.459 102.600 21.509
202103 17.415 103.700 21.227
202106 17.571 104.200 21.315
202109 17.284 104.900 20.826
202112 18.748 106.600 22.230
202203 19.444 110.400 22.262
202206 18.282 112.500 20.541
202209 17.883 114.200 19.793
202212 19.778 119.000 21.008
202303 20.266 118.800 21.562
202306 20.158 119.700 21.286
202309 20.108 120.300 21.128
202312 21.563 119.700 22.770
202403 21.746 120.200 22.868
202406 21.580 120.700 22.599
202409 22.138 121.200 23.088
202412 21.144 121.200 22.051
202503 21.917 122.500 22.615
202506 21.361 122.700 22.005
202509 20.730 123.100 21.286
202512 21.328 122.600 21.989
202603 22.563 124.560 22.896
202606 26.057 126.400 26.057

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 Amplifon SpA (AMFPY) Overvalued in 2026?

Based on GuruFocus' analysis, Amplifon SpA stock appears to be undervalued. The current stock price of $46.67 is trading 50.9% below its estimated GF Value™ of $95.08.

Key valuation signals for AMFPY:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $95.08 vs. price of $46.67 (50.9% below fair value)
  • GF Score™: 78/100 with 6 warning signs

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


Amplifon SpA Business Description

Address Via Ripamonti, 133, Milano, ITA, 20141
Amplifon SpA provides customizable hearing solutions and services through a distribution network of network affiliates, corporate shops, franchises, and shop-in-shops. The company operates in three segments based on geography: the Americas; Europe, the Middle East, and Africa; and Asia-Pacific. It generates the majority of its revenue in the EMEA region. It operates under a variety of brands in these regions, including Amplifon, Beter Horen, Maxtone, and Miracle-Ear.
78GF Score

Get the complete analysis for AMFPY

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

$46.67
Price
$95.08
GF Value