Amazon.com (BKK:AMZN01) Cyclically Adjusted PB Ratio: 16.08 (As of Sep. 06, 2026) — 65% Below Median

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Director of Data and Quant Analytics at GuruFocus
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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.

BKK:AMZN01 Amazon.com Inc BKK:AMZN01
71 GF Score
Price ฿25.25
GF Value ฿24.77
Valuation Fairly Valued
! 5 Warning Signs
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What is Amazon.com Cyclically Adjusted PB Ratio?

Amazon.com BKK:AMZN01 +1.00% 71 Cyclically Adjusted PB Ratio is 16.08 as of Sep. 06, 2026, which is 65% below its 10-year median of 45.73. GuruFocus rates BKK:AMZN01 with a GF Score™ of 71/100 and a GF Value™ of ฿24.77 (Fairly Valued). The stock has 5 warning signs investors should review. Among 756 Retail - Cyclical companies, Amazon.com ranks worse than 97.35% on this metric.

As of today (2026-09-06), Amazon.com's current share price is ฿25.25. Amazon.com's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was ฿1.57. Amazon.com's Cyclically Adjusted PB Ratio for today is 16.08.

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

BKK:AMZN01' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 14.51   Med: 45.73   Max: 76.24
Current: 16.32

During the past years, Amazon.com's highest Cyclically Adjusted PB Ratio was 76.24. The lowest was 14.51. And the median was 45.73.

BKK:AMZN01's Cyclically Adjusted PB Ratio is ranked worse than
97.35% of 756 companies
in the Retail - Cyclical industry
Industry Median: 1.24 vs BKK:AMZN01: 16.32

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.

Amazon.com's adjusted book value per share data for the three months ended in Jun. 2026 was ฿1,682.996. 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 ฿1.57 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Amazon.com  (BKK:AMZN01) 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.


Amazon.com Cyclically Adjusted PB Ratio Related Terms


Amazon.com Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Amazon.com'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.

Amazon.com Cyclically Adjusted PB Ratio Chart

Amazon.com 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 40.90 15.03 20.63 22.36 17.44

Amazon.com 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 19.15 17.77 17.44 14.40 15.05

BKK:AMZN01 vs BABA, PDD, DASH: Cyclically Adjusted PB Ratio Comparison

For the Internet Retail subindustry, Amazon.com'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.


Amazon.com Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

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

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


BKK:AMZN01
71GF Score
Amazon.com Inc BKK:AMZN01
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Amazon.com 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.

Amazon.com's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=25.25/1.57
=16.08

* 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.

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

For example, Amazon.com'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)
=1682.996/333.9520*333.9520
=1,682.996

Current CPI (Jun. 2026) = 333.9520.

Amazon.com Quarterly Data

Book Value per Share CPI Adj_Book
201609 64.976 241.428 89.877
201612 72.324 241.432 100.040
201703 79.067 243.801 108.304
201706 82.190 244.955 112.051
201709 84.764 246.819 114.688
201712 93.365 246.524 126.476
201803 101.384 249.554 135.672
201806 116.722 251.989 154.687
201809 130.330 252.439 172.414
201812 145.050 251.233 192.808
201903 156.128 254.202 205.110
201906 167.029 256.143 217.768
201909 174.421 256.759 226.860
201912 188.147 256.974 244.507
202003 209.907 258.115 271.580
202006 229.148 257.797 296.840
202009 258.650 260.280 331.861
202012 279.288 260.474 358.073
202103 315.899 264.877 398.280
202106 356.691 271.696 438.423
202109 393.557 274.310 479.126
202112 455.754 278.802 545.907
202203 437.595 287.504 508.291
202206 450.672 296.311 507.922
202209 499.725 296.808 562.263
202212 495.766 296.797 557.829
202303 519.162 301.836 574.402
202306 570.742 305.109 624.696
202309 635.623 307.789 689.653
202312 680.130 306.746 740.452
202403 748.733 312.332 800.561
202406 827.441 314.175 879.528
202409 819.885 315.301 868.384
202412 921.737 315.605 975.320
202503 973.391 319.799 1,016.469
202506 1,020.221 322.561 1,056.249
202509 1,105.548 324.800 1,136.699
202512 1,209.522 324.054 1,246.466
202603 1,325.740 330.213 1,340.751
202606 1,682.996 333.952 1,682.996

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 16.08 mean?
Amazon.com (BKK:AMZN01) has a Cyclically Adjusted PB Ratio of 16.08 as of Sep. 06, 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 Amazon.com and its competitors. This is 65% below median its historical median of 45.73. Over the past decade, Amazon.com's Cyclically Adjusted PB Ratio has ranged from 14.51 to 76.24. According to the industry distribution chart, Amazon.com ranks #736 out of 756 companies in the Retail - Cyclical industry, placing it in the top 97.4%.
Is Amazon.com's Cyclically Adjusted PB Ratio too high?
Amazon.com's current Cyclically Adjusted PB Ratio of 16.08 is 65% below median its 10-year median of 45.73. Over the past 10 years, this metric has ranged from a low of 14.51 to a high of 76.24. The Retail - Cyclical industry median Cyclically Adjusted PB Ratio is 1.24. Amazon.com's value of 16.08 is 1196.8% above this industry median. Based on the distribution chart, Amazon.com ranks #736 out of 756 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Amazon.com has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Amazon.com's Cyclically Adjusted PB Ratio compare to BABA and PDD?
According to the Retail - Cyclical industry distribution chart, Amazon.com ranks #736 out of 756 companies for Cyclically Adjusted PB Ratio. This places Amazon.com in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.24. Amazon.com's value of 16.08 is 1196.8% above this benchmark. Historically, Amazon.com's own Cyclically Adjusted PB Ratio has ranged from 14.51 to 76.24 over the past decade. While the company's 10-year median is 45.73 vs. the industry median of 1.24, Amazon.com 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 756 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. Amazon.com's current Cyclically Adjusted PB Ratio of 16.08 is 1196.8% 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 Amazon.com 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. Amazon.com's current Cyclically Adjusted PB Ratio is 16.08, which is 65% below median its own 10-year median of 45.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Amazon.com stock overvalued right now?
Based on GuruFocus' analysis, Amazon.com (BKK:AMZN01) is currently considered Fairly Valued. The stock's GF Value™ is ฿24.77, compared to a current price of ฿25.25 — trading 1.9% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 16.08, which is 65% below median its 10-year median of 45.73 and 1196.8% above the Retail - Cyclical industry median of 1.24. Amazon.com's overall GF Score™ is 71/100 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 Amazon.com (BKK:AMZN01), the current Cyclically Adjusted PB Ratio is 16.08 as of Sep. 06, 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 Amazon.com (BKK:AMZN01) Overvalued in 2026?

Based on GuruFocus' analysis, Amazon.com stock appears to be overvalued. The current stock price of ฿25.25 is trading 1.9% above its estimated GF Value™ of ฿24.77. GuruFocus considers Amazon.com to be Fairly Valued.

Key valuation signals for BKK:AMZN01:

  • Cyclically Adjusted PB Ratio: 16.08 (65% below median its 10-year median of 45.73)
  • GF Value™: ฿24.77 vs. price of ฿25.25 (1.9% above fair value)
  • GF Score™: 71/100 with 5 warning signs
  • Industry Position: 1196.8% above the Retail - Cyclical median (#736 of 756)

No single metric tells the full story. See the BKK:AMZN01 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Amazon.com Business Description

Address 410 Terry Avenue North, Seattle, WA, USA, 98109-5210
Amazon is the leading online retailer and marketplace for third party sellers. Retail related revenue represents approximately 74% of total, followed by Amazon Web Services (17%), and advertising services (9%). International segments constitute 22% of Amazon's total revenue, led by Germany, the United Kingdom, and Japan.
71GF Score

Get the complete analysis for BKK:AMZN01

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

฿25.25
Price
฿24.77
GF Value