Australian Ethical InvestmentASX:AEF -1.10%98 Cyclically Adjusted PB Ratio is 19.57 as of Jul. 11, 2026, which is 19% below its 10-year median of 24.24. GuruFocus rates ASX:AEF with a GF Score™ of 98/100 and a GF Value™ of A$6.38 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,005 Asset Management companies, Australian Ethical Investment ranks worse than 99.4% on this metric.
The historical rank and industry rank for Australian Ethical Investment's Cyclically Adjusted PB Ratio or its related term are showing as below:
ASX:AEF'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 8.99 Med: 24.24 Max: 104.86
Current: 19.22
During the past 13 years, Australian Ethical Investment's highest Cyclically Adjusted PB Ratio was 104.86. The lowest was 8.99. And the median was 24.24.
ASX:AEF's Cyclically Adjusted PB Ratio is ranked worse than 99.4% of 1005
companies
in the Asset Management industry
Industry Median: 0.85
vs ASX:AEF: 19.22
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.
Australian Ethical Investment's adjusted book value per share data of for the fiscal year that ended in Jun25 was A$0.357. 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 A$0.23 for the trailing ten years ended in Jun25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Australian Ethical Investment (ASX:AEF) 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.
Australian Ethical Investment Cyclically Adjusted PB Ratio Related Terms
Australian Ethical Investment Cyclically Adjusted PB Ratio Historical Data
* 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.
Australian Ethical Investment Cyclically Adjusted PB Ratio Chart
ASX:AEF vs BLK, BX, KKR: Cyclically Adjusted PB Ratio Comparison
For the Asset Management subindustry, Australian Ethical Investment'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.
Australian Ethical Investment Cyclically Adjusted PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Australian Ethical Investment's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Australian Ethical Investment's Cyclically Adjusted PB Ratio falls into.
Australian Ethical Investment 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.
* 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.
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 19.57 mean?
Australian Ethical Investment (ASX:AEF) has a Cyclically Adjusted PB Ratio of 19.57 as of Jul. 11, 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 Australian Ethical Investment and its competitors. This is 19% below median its historical median of 24.24. Over the past decade, Australian Ethical Investment's Cyclically Adjusted PB Ratio has ranged from 8.99 to 104.86. According to the industry distribution chart, Australian Ethical Investment ranks #999 out of 1005 companies in the Asset Management industry, placing it in the top 99.4%.
Is Australian Ethical Investment's Cyclically Adjusted PB Ratio too high?
Australian Ethical Investment's current Cyclically Adjusted PB Ratio of 19.57 is 19% below median its 10-year median of 24.24. Over the past 10 years, this metric has ranged from a low of 8.99 to a high of 104.86. The Asset Management industry median Cyclically Adjusted PB Ratio is 0.85. Australian Ethical Investment's value of 19.57 is 2202.4% above this industry median. Based on the distribution chart, Australian Ethical Investment ranks #999 out of 1005 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Australian Ethical Investment has a GF Score™ of 98/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Australian Ethical Investment's Cyclically Adjusted PB Ratio compare to BLK and BX?
According to the Asset Management industry distribution chart, Australian Ethical Investment ranks #999 out of 1005 companies for Cyclically Adjusted PB Ratio. This places Australian Ethical Investment in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.85. Australian Ethical Investment's value of 19.57 is 2202.4% above this benchmark. Historically, Australian Ethical Investment's own Cyclically Adjusted PB Ratio has ranged from 8.99 to 104.86 over the past decade. While the company's 10-year median is 24.24 vs. the industry median of 0.85, Australian Ethical Investment 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 an Asset Management company?
The median Cyclically Adjusted PB Ratio among Asset Management companies is 0.85, based on 1,005 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. Australian Ethical Investment's current Cyclically Adjusted PB Ratio of 19.57 is 2202.4% 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 Australian Ethical Investment and its competitors. For the Asset Management industry, the median Cyclically Adjusted PB Ratio is 0.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Australian Ethical Investment's current Cyclically Adjusted PB Ratio is 19.57, which is 19% below median its own 10-year median of 24.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Australian Ethical Investment stock overvalued right now?
Based on GuruFocus' analysis, Australian Ethical Investment (ASX:AEF) is currently considered Modestly Undervalued. The stock's GF Value™ is A$6.38, compared to a current price of A$4.50 — trading 29.5% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 19.57, which is 19% below median its 10-year median of 24.24 and 2202.4% above the Asset Management industry median of 0.85. Australian Ethical Investment's overall GF Score™ is 98/100 with 2 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 Australian Ethical Investment (ASX:AEF), the current Cyclically Adjusted PB Ratio is 19.57 as of Jul. 11, 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 Australian Ethical Investment (ASX:AEF) Overvalued in 2026?
Based on GuruFocus' analysis, Australian Ethical Investment stock appears to be undervalued.
The current stock price of A$4.50 is trading 29.5% below its estimated GF Value™ of A$6.38.
GuruFocus considers Australian Ethical Investment to be Modestly Undervalued.
Key valuation signals for ASX:AEF:
Cyclically Adjusted PB Ratio: 19.57 (19% below median its 10-year median of 24.24)
GF Value™: A$6.38 vs. price of A$4.50 (29.5% below fair value)
Industry Position: 2202.4% above the Asset Management median (#999 of 1005)
No single metric tells the full story. See the ASX:AEF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Australian Ethical Investment Business Description
Australian Ethical Investment Ltd is an Australian-based company engaged in the operating segment of Funds Management. The company is involved in acting as the responsible entity for a range of public offer ethically managed investment schemes and acting as the Trustee of the Australian Ethical Retail Superannuation Fund (Super Fund). The various products offered by the company are Super, Managed funds, ETFs, Insurance, and Pension.
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