ASCOF (Ascopiave SpA) Cyclically Adjusted PB Ratio: (As of Jul. 31, 2026)

Author: Vera Yuan Vera Yuan
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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.

ASCOF Ascopiave SpA ASCOF
76 GF Score
Price $3.33
GF Value $4.09
! 3 Warning Signs
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What is Ascopiave SpA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Ascopiave SpA  (OTCPK:ASCOF) 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.


Ascopiave SpA Cyclically Adjusted PB Ratio Related Terms


Ascopiave SpA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Ascopiave 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.

Ascopiave SpA Cyclically Adjusted PB Ratio Chart

Ascopiave 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 1.43 0.82 0.72 0.82 0.93

Ascopiave 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 0.88 0.86 0.93 0.92 0.00

ASCOF vs ATO, NI, UGI: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Gas subindustry, Ascopiave 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.


Ascopiave SpA Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Ascopiave SpA's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


ASCOF
76GF Score
Ascopiave SpA ASCOF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Ascopiave 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.

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

For example, Ascopiave 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)
=4.746/126.4000*126.4000
=4.746

Current CPI (Jun. 2026) = 126.4000.

Ascopiave SpA Quarterly Data

Book Value per Share CPI Adj_Book
201609 2.095 100.100 2.645
201612 2.079 100.300 2.620
201703 2.221 101.000 2.780
201706 2.155 101.100 2.694
201709 2.304 101.200 2.878
201712 2.372 101.200 2.963
201803 2.593 101.800 3.220
201806 2.265 102.400 2.796
201809 2.251 102.600 2.773
201812 2.266 102.300 2.800
201903 2.354 102.800 2.894
201906 2.016 103.100 2.472
201909 2.036 102.900 2.501
201912 4.334 102.800 5.329
202003 4.371 102.900 5.369
202006 4.258 102.900 5.230
202009 4.494 102.300 5.553
202012 4.795 102.600 5.907
202103 4.768 103.700 5.812
202106 4.706 104.200 5.709
202109 4.623 104.900 5.571
202112 4.529 106.600 5.370
202203 4.498 110.400 5.150
202206 4.272 112.500 4.800
202209 4.113 114.200 4.552
202212 4.235 119.000 4.498
202303 4.225 118.800 4.495
202306 4.140 119.700 4.372
202309 4.075 120.300 4.282
202312 4.251 119.700 4.489
202403 4.272 120.200 4.492
202406 4.133 120.700 4.328
202409 4.300 121.200 4.484
202412 4.102 121.200 4.278
202503 4.283 122.500 4.419
202506 4.723 122.700 4.865
202509 4.870 123.100 5.001
202512 4.936 122.600 5.089
202603 4.908 124.560 4.981
202606 4.746 126.400 4.746

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 Ascopiave SpA (ASCOF) Overvalued in 2026?

Based on GuruFocus' analysis, Ascopiave SpA stock appears to be undervalued. The current stock price of $3.33 is trading 18.6% below its estimated GF Value™ of $4.09.

Key valuation signals for ASCOF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $4.09 vs. price of $3.33 (18.6% below fair value)
  • GF Score™: 76/100 with 3 warning signs

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


Ascopiave SpA Business Description

Other Exchanges ASC:Italy0DME:UKAVA:Germany
Address Via Verizzo, 1030, Pieve di Soligo, Treviso, ITA, 31053
Ascopiave SpA is an Italy-based company engaged in the utility sector. It operates mainly in the field of natural gas distribution through its natural gas and LPG distribution networks across several towns. The Group is also present in the renewable energy sector, owning hydroelectric and wind power plants. Additionally, it is present in the field of cogeneration and heat management, as well as in the water sector, through its strategic investments. Ascopiave's operating business segments are: Gas Distribution, Renewables energies, and Other. Maximum revenue is generated from its Gas Distribution business. Geographically, the Group operates only in Italy.
76GF Score

Get the complete analysis for ASCOF

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

$3.33
Price
$4.09
GF Value