AONNF (AEON Co) Cyclically Adjusted PB Ratio: 3.24 (As of Jul. 22, 2026) — 60% Above Median

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Director of Data and Quant Analytics at GuruFocus
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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.

AONNF AEON Co Ltd AONNF
68 GF Score
Price $9.75
GF Value $9.47
! 5 Warning Signs
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What is AEON Co Cyclically Adjusted PB Ratio?

AEON Co AONNF +3.71% 68 Cyclically Adjusted PB Ratio is 3.24 as of Jul. 22, 2026, which is 60% above its 10-year median of 2.02. GuruFocus rates AONNF with a GF Score™ of 68/100 and a GF Value™ of $9.47. The stock has 5 warning signs investors should review. Among 809 Retail - Cyclical companies, AEON Co ranks worse than 78% on this metric.

As of today (2026-07-22), AEON Co's current share price is $9.749. AEON Co's Cyclically Adjusted Book per Share for the quarter that ended in Feb. 2026 was $3.01. AEON Co's Cyclically Adjusted PB Ratio for today is 3.24.

The historical rank and industry rank for AEON Co's Cyclically Adjusted PB Ratio or its related term are showing as below:

AONNF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.23   Med: 2.02   Max: 6.25
Current: 3.02

During the past years, AEON Co's highest Cyclically Adjusted PB Ratio was 6.25. The lowest was 1.23. And the median was 2.02.

AONNF's Cyclically Adjusted PB Ratio is ranked worse than
78% of 809 companies
in the Retail - Cyclical industry
Industry Median: 1.24 vs AONNF: 3.02

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.

AEON Co's adjusted book value per share data for the three months ended in Feb. 2026 was $2.844. 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 $3.01 for the trailing ten years ended in Feb. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


AEON Co  (OTCPK:AONNF) 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.


AEON Co Cyclically Adjusted PB Ratio Related Terms


AEON Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for AEON Co'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.

AEON Co Cyclically Adjusted PB Ratio Chart

AEON Co Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.96 1.88 2.63 2.68 4.92

AEON Co Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 3.22 3.91 6.17 4.92 0.00

AONNF vs DDS, M: Cyclically Adjusted PB Ratio Comparison

For the Department Stores subindustry, AEON Co'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.


AEON Co Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, AEON Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


AONNF
68GF Score
AEON Co Ltd AONNF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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AEON Co 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.

AEON Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=9.749/3.01
=3.24

* 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.

AEON Co's Cyclically Adjusted Book per Share for the quarter that ended in Feb. 2026 is calculated as:

For example, AEON Co's adjusted Book Value per Share data for the three months ended in Feb. 2026 was:

Adj_Book=Book Value per Share/CPI of Feb. 2026 (Change)*Current CPI (Feb. 2026)
=2.844/112.2000*112.2000
=2.844

Current CPI (Feb. 2026) = 112.2000.

AEON Co Quarterly Data

Book Value per Share CPI Adj_Book
201605 4.125 98.200 4.713
201608 4.329 97.900 4.961
201611 3.994 98.600 4.545
201702 3.991 98.100 4.565
201705 3.973 98.600 4.521
201708 4.083 98.500 4.651
201711 3.960 99.100 4.483
201802 4.242 99.500 4.783
201805 4.098 99.300 4.630
201808 4.019 99.800 4.518
201811 3.824 100.000 4.291
201902 3.929 99.700 4.422
201905 3.794 100.000 4.257
201908 3.957 100.000 4.440
201911 3.809 100.500 4.252
202002 3.837 100.300 4.292
202005 3.687 100.100 4.133
202008 3.724 100.100 4.174
202011 3.715 99.500 4.189
202102 3.636 99.800 4.088
202105 3.529 99.400 3.983
202108 3.512 99.700 3.952
202111 3.279 100.100 3.675
202202 3.274 100.700 3.648
202205 2.998 101.800 3.304
202208 2.936 102.700 3.208
202211 2.729 103.900 2.947
202302 2.912 104.000 3.142
202305 2.860 105.100 3.053
202308 2.825 105.900 2.993
202311 2.713 106.900 2.848
202402 2.747 106.900 2.883
202405 2.579 108.100 2.677
202408 2.770 109.100 2.849
202411 2.450 110.000 2.499
202502 2.719 110.800 2.753
202505 2.618 111.800 2.627
202508 2.954 112.100 2.957
202511 2.693 113.200 2.669
202602 2.844 112.200 2.844

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 3.24 mean?
AEON Co (AONNF) has a Cyclically Adjusted PB Ratio of 3.24 as of Jul. 22, 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 AEON Co and its competitors. This is 60% above median its historical median of 2.02. Over the past decade, AEON Co's Cyclically Adjusted PB Ratio has ranged from 1.23 to 6.25. According to the industry distribution chart, AEON Co ranks #631 out of 809 companies in the Retail - Cyclical industry, placing it in the top 78%.
Is AEON Co's Cyclically Adjusted PB Ratio too high?
AEON Co's current Cyclically Adjusted PB Ratio of 3.24 is 60% above median its 10-year median of 2.02. Over the past 10 years, this metric has ranged from a low of 1.23 to a high of 6.25. The Retail - Cyclical industry median Cyclically Adjusted PB Ratio is 1.24. AEON Co's value of 3.24 is 161.3% above this industry median. Based on the distribution chart, AEON Co ranks #631 out of 809 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, AEON Co has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does AEON Co's Cyclically Adjusted PB Ratio compare to DDS and M?
According to the Retail - Cyclical industry distribution chart, AEON Co ranks #631 out of 809 companies for Cyclically Adjusted PB Ratio. This places AEON Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.24. AEON Co's value of 3.24 is 161.3% above this benchmark. Historically, AEON Co's own Cyclically Adjusted PB Ratio has ranged from 1.23 to 6.25 over the past decade. While the company's 10-year median is 2.02 vs. the industry median of 1.24, AEON Co 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 Retail - Cyclical company?
The median Cyclically Adjusted PB Ratio among Retail - Cyclical companies is 1.24, based on 809 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. AEON Co's current Cyclically Adjusted PB Ratio of 3.24 is 161.3% 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 AEON Co and its competitors. For the Retail - Cyclical industry, the median Cyclically Adjusted PB Ratio is 1.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AEON Co's current Cyclically Adjusted PB Ratio is 3.24, which is 60% above median its own 10-year median of 2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AEON Co stock overvalued right now?
AEON Co (AONNF) has a current Cyclically Adjusted PB Ratio of 3.24. The stock's GF Value™ is $9.47, compared to a current price of $9.75 — trading 2.9% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.24, which is 60% above median its 10-year median of 2.02 and 161.3% above the Retail - Cyclical industry median of 1.24. AEON Co's overall GF Score™ is 68/100 with 5 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 AEON Co (AONNF), the current Cyclically Adjusted PB Ratio is 3.24 as of Jul. 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 AEON Co (AONNF) Overvalued in 2026?

Based on GuruFocus' analysis, AEON Co stock appears to be overvalued. The current stock price of $9.75 is trading 2.9% above its estimated GF Value™ of $9.47.

Key valuation signals for AONNF:

  • Cyclically Adjusted PB Ratio: 3.24 (60% above median its 10-year median of 2.02)
  • GF Value™: $9.47 vs. price of $9.75 (2.9% above fair value)
  • GF Score™: 68/100 with 5 warning signs
  • Industry Position: 161.3% above the Retail - Cyclical median (#631 of 809)

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


AEON Co Business Description

Address 1-5-1 Nakase, Minami-ku, Chiba Prefecture, Chiba, JPN, 261-8515
AEON Co Ltd is a holding company engaged in comprehensive finance, development, and services with a focus on retail businesses. The Comprehensive Finance segment covers credit cards, banking, insurance, and related services. The Developer segment handles shopping center development, leasing, facility management, amusement, and restaurants. The Discount Store (DS) segment operates discount stores, while the General Supermarket (GMS) segment includes supermarkets and bento delicatessen specialty stores. The Health & Wellness segment runs drugstores and pharmacies. The International segment focuses on retail in ASEAN and China. Services/Specialty Store includes casual fashion, footwear, and variety goods. Supermarket (SM) operates supermarkets, convenience stores, and small outlets.
68GF 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.

$9.75
Price
$9.47
GF Value