Azevedo E Travassos (BSP:AZEV3) Cyclically Adjusted PB Ratio: (As of Aug. 09, 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.

BSP:AZEV3 Azevedo E Travassos SA BSP:AZEV3
32 GF Score
Price R$3.70
GF Value R$7.48
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Azevedo E Travassos Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Azevedo E Travassos  (BSP:AZEV3) 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.


Azevedo E Travassos Cyclically Adjusted PB Ratio Related Terms


Azevedo E Travassos Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Azevedo E Travassos'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.

Azevedo E Travassos Cyclically Adjusted PB Ratio Chart

Azevedo E Travassos Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
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Azevedo E Travassos Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 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 0.00 0.00 0.00 0.00 0.00

BSP:AZEV3 vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Azevedo E Travassos'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.


Azevedo E Travassos Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Azevedo E Travassos's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Azevedo E Travassos's Cyclically Adjusted PB Ratio falls into.


BSP:AZEV3
32GF Score
Azevedo E Travassos SA BSP:AZEV3
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Azevedo E Travassos 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.

Azevedo E Travassos's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Azevedo E Travassos's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=3.801/175.0655*175.0655
=3.801

Current CPI (Mar. 2026) = 175.0655.

Azevedo E Travassos Quarterly Data

Book Value per Share CPI Adj_Book
201606 51.233 108.851 82.399
201609 37.339 109.986 59.433
201612 9.372 110.802 14.808
201703 -8.788 111.869 -13.752
201706 -28.839 112.115 -45.032
201709 -53.120 112.777 -82.459
201712 -125.142 114.068 -192.062
201803 -144.332 114.868 -219.970
201806 -161.885 117.038 -242.148
201809 -308.567 117.881 -458.252
201812 -338.308 118.340 -500.472
201903 -352.198 120.124 -513.286
201906 -360.283 120.977 -521.363
201909 -371.000 121.292 -535.478
201912 -393.562 123.436 -558.176
202003 -397.693 124.092 -561.056
202006 -400.989 123.557 -568.153
202009 -420.593 125.095 -588.603
202012 -166.100 129.012 -225.392
202103 -44.930 131.660 -59.742
202106 -55.328 133.871 -72.354
202109 16.189 137.913 20.550
202112 38.842 141.992 47.889
202203 43.081 146.537 51.468
202206 37.123 149.784 43.389
202209 32.300 147.800 38.259
202212 25.136 150.207 29.296
202303 19.930 153.352 22.752
202306 30.895 154.519 35.003
202309 30.065 155.464 33.856
202312 37.793 157.148 42.102
202403 35.781 159.372 39.304
202406 29.797 161.052 32.390
202409 28.954 162.342 31.223
202412 13.805 164.740 14.670
202503 24.242 168.102 25.246
202506 26.309 169.670 27.146
202509 5.377 170.739 5.513
202512 3.769 171.765 3.841
202603 3.801 175.066 3.801

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 Azevedo E Travassos (BSP:AZEV3) Overvalued in 2026?

Based on GuruFocus' analysis, Azevedo E Travassos stock appears to be undervalued. The current stock price of R$3.70 is trading 50.5% below its estimated GF Value™ of R$7.48. GuruFocus considers Azevedo E Travassos to be Possible Value Trap.

Key valuation signals for BSP:AZEV3:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$7.48 vs. price of R$3.70 (50.5% below fair value)
  • GF Score™: 32/100 with 6 warning signs

No single metric tells the full story. See the BSP:AZEV3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Azevedo E Travassos Business Description

Other Exchanges AZEV4:Brazil
Address Avenida das Nacoes Unidas, 12901, North Tower, 21st floor, Sao Paulo, SP, BRA, 2102
Azevedo E Travassos SA is an engineering and construction contractor. The company's business areas include heavy and civil construction; electromechanical assembly; well drilling and completion; property development and oil exploration and production. It builds highways, roads, bridges, airports, residential, commercial, industrial health care and buildings, and others.
32GF Score

Get the complete analysis for BSP:AZEV3

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

R$3.70
Price
R$7.48
GF Value