AWATY (Air Water) Cyclically Adjusted PB Ratio: (As of Aug. 16, 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.

AWATY Air Water Inc AWATY
63 GF Score
Price $15.94
GF Value $12.88
Valuation Modestly Overvalued
! 11 Warning Signs
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What is Air Water Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Air Water  (OTCPK:AWATY) 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.


Air Water Cyclically Adjusted PB Ratio Related Terms


Air Water Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Air Water'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.

Air Water Cyclically Adjusted PB Ratio Chart

Air Water Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.27 1.12 1.48 1.06 1.16

Air Water Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 1.48 1.21 1.06 1.43 1.16

AWATY vs LIN, SHW, ECL: Cyclically Adjusted PB Ratio Comparison

For the Specialty Chemicals subindustry, Air Water'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.


Air Water Cyclically Adjusted PB Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Air Water's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


AWATY
63GF Score
Air Water Inc AWATY
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Air Water 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.

Air Water's Cyclically Adjusted Book per Share for the fiscal year that ended in Mar26 is calculated as:

For example, Air Water's adjusted Book Value per Share data for the fiscal year that ended in Mar26 was:

Adj_Book=Book Value per Share/CPI of Mar26 (Change)*Current CPI (Mar26)
=10.728/112.7000*112.7000
=10.728

Current CPI (Mar26) = 112.7000.

Air Water Annual Data

Book Value per Share CPI Adj_Book
201703 11.641 98.100 13.374
201803 12.722 99.200 14.453
201903 12.779 99.700 14.445
202003 13.560 100.300 15.236
202103 14.580 99.900 16.448
202203 14.711 101.100 16.399
202303 14.158 104.400 15.284
202403 14.288 107.200 15.021
202503 15.140 111.100 15.358
202603 10.728 112.700 10.728

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 Air Water (AWATY) Overvalued in 2026?

Based on GuruFocus' analysis, Air Water stock appears to be overvalued. The current stock price of $15.94 is trading 23.8% above its estimated GF Value™ of $12.88. GuruFocus considers Air Water to be Modestly Overvalued.

Key valuation signals for AWATY:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $12.88 vs. price of $15.94 (23.8% above fair value)
  • GF Score™: 63/100 with 11 warning signs

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


Air Water Business Description

Address 2-12-8 Minamisenba, Chuo-ku, Osaka, JPN, 542-0081
Air Water Inc is a diversified conglomerate engaged in the supply of industrial gases and various other businesses and services. The company operates through five segments. The Agri & Foods segment covers the processing and distribution of fruits and vegetables, frozen foods, meat products, and contract manufacturing of beverages. The Digital & Industry segment focuses on industrial gases, electrical, and functional materials. The Energy Solutions segment deals with LP gas, kerosene, and related equipment. The Health & Safety segment provides medical gases, dental and protective materials, hospital equipment, and home medical care services. The Other Businesses segment includes logistics, salt production, overseas industrial gas operations, biomass power, and high-output UPS solutions.
63GF Score

Get the complete analysis for AWATY

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

$15.94
Price
$12.88
GF Value