Fleury (BSP:FLRY3) Cyclically Adjusted PB Ratio: 2.00 (As of Jul. 17, 2026) — 13% Below Median

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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
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BSP:FLRY3 Fleury SA BSP:FLRY3
90 GF Score
Price R$16.42
GF Value R$17.49
Valuation Fairly Valued
! 5 Warning Signs
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What is Fleury Cyclically Adjusted PB Ratio?

Fleury BSP:FLRY3 -0.55% 90 Cyclically Adjusted PB Ratio is 2.00 as of Jul. 17, 2026, which is 13% below its 10-year median of 2.30. GuruFocus rates BSP:FLRY3 with a GF Score™ of 90/100 and a GF Value™ of R$17.49 (Fairly Valued). The stock has 5 warning signs investors should review. Among 136 Medical Diagnostics & Research companies, Fleury ranks worse than 52.94% on this metric.

As of today (2026-07-17), Fleury's current share price is R$16.42. Fleury's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was R$8.19. Fleury's Cyclically Adjusted PB Ratio for today is 2.00.

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

BSP:FLRY3' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.47   Med: 2.3   Max: 4.84
Current: 2.01

During the past years, Fleury's highest Cyclically Adjusted PB Ratio was 4.84. The lowest was 1.47. And the median was 2.30.

BSP:FLRY3's Cyclically Adjusted PB Ratio is ranked worse than
52.94% of 136 companies
in the Medical Diagnostics & Research industry
Industry Median: 1.915 vs BSP:FLRY3: 2.01

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.

Fleury's adjusted book value per share data for the three months ended in Mar. 2026 was R$9.533. 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 R$8.19 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Fleury  (BSP:FLRY3) 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.


Fleury Cyclically Adjusted PB Ratio Related Terms


Fleury Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Fleury'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.

Fleury Cyclically Adjusted PB Ratio Chart

Fleury 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 2.50 2.15 2.54 1.60 1.87

Fleury 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 1.51 1.66 2.03 1.87 1.95

BSP:FLRY3 vs TMO, DHR, IDXX: Cyclically Adjusted PB Ratio Comparison

For the Diagnostics & Research subindustry, Fleury'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.


Fleury Cyclically Adjusted PB Ratio vs Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Fleury's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BSP:FLRY3
90GF Score
Fleury SA BSP:FLRY3
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fleury 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.

Fleury's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=16.42/8.19
=2.00

* 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.

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

For example, Fleury'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)
=9.533/175.0655*175.0655
=9.533

Current CPI (Mar. 2026) = 175.0655.

Fleury Quarterly Data

Book Value per Share CPI Adj_Book
201606 5.238 108.851 8.424
201609 5.337 109.986 8.495
201612 4.609 110.802 7.282
201703 4.647 111.869 7.272
201706 4.932 112.115 7.701
201709 5.021 112.777 7.794
201712 5.104 114.068 7.833
201803 4.788 114.868 7.297
201806 5.053 117.038 7.558
201809 5.160 117.881 7.663
201812 5.220 118.340 7.722
201903 4.858 120.124 7.080
201906 5.079 120.977 7.350
201909 5.172 121.292 7.465
201912 5.237 123.436 7.427
202003 4.830 124.092 6.814
202006 4.612 123.557 6.535
202009 5.014 125.095 7.017
202012 5.204 129.012 7.062
202103 5.046 131.660 6.710
202106 5.237 133.871 6.849
202109 5.400 137.913 6.855
202112 5.490 141.992 6.769
202203 5.186 146.537 6.196
202206 5.403 149.784 6.315
202209 5.690 147.800 6.740
202212 6.970 150.207 8.124
202303 7.233 153.352 8.257
202306 9.319 154.519 10.558
202309 9.468 155.464 10.662
202312 9.327 157.148 10.390
202403 9.500 159.372 10.435
202406 9.818 161.052 10.672
202409 9.816 162.342 10.585
202412 9.718 164.740 10.327
202503 9.590 168.102 9.987
202506 9.870 169.670 10.184
202509 9.899 170.739 10.150
202512 9.177 171.765 9.353
202603 9.533 175.066 9.533

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 2.00 mean?
Fleury (BSP:FLRY3) has a Cyclically Adjusted PB Ratio of 2.00 as of Jul. 17, 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 Fleury and its competitors. This is 13% below median its historical median of 2.30. Over the past decade, Fleury's Cyclically Adjusted PB Ratio has ranged from 1.47 to 4.84. According to the industry distribution chart, Fleury ranks #72 out of 136 companies in the Medical Diagnostics & Research industry, placing it in the top 52.9%.
Is Fleury's Cyclically Adjusted PB Ratio too high?
Fleury's current Cyclically Adjusted PB Ratio of 2.00 is 13% below median its 10-year median of 2.30. Over the past 10 years, this metric has ranged from a low of 1.47 to a high of 4.84. The Medical Diagnostics & Research industry median Cyclically Adjusted PB Ratio is 1.92. Fleury's value of 2.00 is 4.4% above this industry median. Based on the distribution chart, Fleury ranks #72 out of 136 companies in the Medical Diagnostics & Research industry, which is below the industry midpoint. Overall, Fleury has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Fleury's Cyclically Adjusted PB Ratio compare to TMO and DHR?
According to the Medical Diagnostics & Research industry distribution chart, Fleury ranks #72 out of 136 companies for Cyclically Adjusted PB Ratio. This places Fleury in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.92. Fleury's value of 2.00 is 4.4% above this benchmark. Historically, Fleury's own Cyclically Adjusted PB Ratio has ranged from 1.47 to 4.84 over the past decade. While the company's 10-year median is 2.30 vs. the industry median of 1.92, Fleury 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 Medical Diagnostics & Research company?
The median Cyclically Adjusted PB Ratio among Medical Diagnostics & Research companies is 1.92, based on 136 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. Fleury's current Cyclically Adjusted PB Ratio of 2.00 is 4.4% 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 Fleury and its competitors. For the Medical Diagnostics & Research industry, the median Cyclically Adjusted PB Ratio is 1.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fleury's current Cyclically Adjusted PB Ratio is 2.00, which is 13% below median its own 10-year median of 2.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fleury stock overvalued right now?
Based on GuruFocus' analysis, Fleury (BSP:FLRY3) is currently considered Fairly Valued. The stock's GF Value™ is R$17.49, compared to a current price of R$16.42 — trading 6.1% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.00, which is 13% below median its 10-year median of 2.30 and 4.4% above the Medical Diagnostics & Research industry median of 1.92. Fleury's overall GF Score™ is 90/100 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 Fleury (BSP:FLRY3), the current Cyclically Adjusted PB Ratio is 2.00 as of Jul. 17, 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 Fleury (BSP:FLRY3) Overvalued in 2026?

Based on GuruFocus' analysis, Fleury stock appears to be undervalued. The current stock price of R$16.42 is trading 6.1% below its estimated GF Value™ of R$17.49. GuruFocus considers Fleury to be Fairly Valued.

Key valuation signals for BSP:FLRY3:

  • Cyclically Adjusted PB Ratio: 2.00 (13% below median its 10-year median of 2.30)
  • GF Value™: R$17.49 vs. price of R$16.42 (6.1% below fair value)
  • GF Score™: 90/100 with 5 warning signs
  • Industry Position: 4.4% above the Medical Diagnostics & Research median (#72 of 136)

No single metric tells the full story. See the BSP:FLRY3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fleury Business Description

Address Avenida Morumbi 8.860, 8th floor, Brooklin, Sao Paulo, SP, BRA, 04703-002
Fleury SA is engaged in the provision of medical services in the diagnostic, laboratory support (Lab-to-Lab), infusions, clinical analysis, health management, medical care, orthopedics and ophthalmology, fertility, infusion areas and toxicological exams, among others. The company offers diagnostic medicine through physical service units and mobile diagnostic services for consumers. It also provides diagnostic support services to laboratories and hospitals. In addition, the company operates clinics and services in areas such as infusion therapy, orthopedics, ophthalmology, reproductive medicine, and oncology. It has two reportable business segments: Diagnostic Medicine and Integrated Medicine. The maximum revenue is generated from the Diagnostic Medicine Segment.
90GF Score

Get the complete analysis for BSP:FLRY3

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

R$16.42
Price
R$17.49
GF Value