Companhia Celg de Participacoes (BSP:GPAR3) Cyclically Adjusted PB Ratio: (As of Jul. 22, 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.
Reviewed by: Charlie Tian Charlie Tian
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:GPAR3 Companhia Celg de Participacoes SA BSP:GPAR3
48 GF Score
Price R$10.51
GF Value R$63.70
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is Companhia Celg de Participacoes Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Companhia Celg de Participacoes  (BSP:GPAR3) 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.


Companhia Celg de Participacoes Cyclically Adjusted PB Ratio Related Terms


Companhia Celg de Participacoes Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Companhia Celg de Participacoes'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.

Companhia Celg de Participacoes Cyclically Adjusted PB Ratio Chart

Companhia Celg de Participacoes Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Companhia Celg de Participacoes Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25
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:GPAR3 vs NEE, SO, DUK: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Electric subindustry, Companhia Celg de Participacoes'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.


Companhia Celg de Participacoes Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Companhia Celg de Participacoes's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Companhia Celg de Participacoes's Cyclically Adjusted PB Ratio falls into.


BSP:GPAR3
48GF Score
Companhia Celg de Participacoes SA BSP:GPAR3
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Companhia Celg de Participacoes 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.

Companhia Celg de Participacoes's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2025 is calculated as:

For example, Companhia Celg de Participacoes's adjusted Book Value per Share data for the three months ended in Sep. 2025 was:

Adj_Book=Book Value per Share/CPI of Sep. 2025 (Change)*Current CPI (Sep. 2025)
=9.274/170.7391*170.7391
=9.274

Current CPI (Sep. 2025) = 170.7391.

Companhia Celg de Participacoes Quarterly Data

Book Value per Share CPI Adj_Book
201512 -102.047 104.247 -167.136
201603 -103.544 106.979 -165.257
201606 -100.161 108.851 -157.109
201609 -94.436 109.986 -146.600
201612 -57.992 110.802 -89.362
201703 -56.713 111.869 -86.558
201706 -55.625 112.115 -84.711
201709 -54.667 112.777 -82.763
201712 -54.238 114.068 -81.185
201803 -53.821 114.868 -79.999
201806 -53.349 117.038 -77.828
201809 -52.765 117.881 -76.425
201812 -52.679 118.340 -76.004
201903 -52.260 120.124 -74.280
201906 -51.913 120.977 -73.266
201909 -51.299 121.292 -72.212
201912 -43.503 123.436 -60.174
202003 -49.497 124.092 -68.104
202006 15.141 123.557 20.923
202009 14.614 125.095 19.946
202012 18.673 129.012 24.712
202103 19.230 131.660 24.938
202106 19.722 133.871 25.154
202109 19.758 137.913 24.461
202112 20.044 141.992 24.102
202203 0.000 146.537 0.000
202206 14.835 149.784 16.910
202209 15.013 147.800 17.343
202212 7.925 150.207 9.008
202303 9.090 153.352 10.121
202306 9.247 154.519 10.218
202309 9.125 155.464 10.022
202312 9.364 157.148 10.174
202403 9.501 159.372 10.179
202406 9.618 161.052 10.197
202409 9.645 162.342 10.144
202412 9.834 164.740 10.192
202503 9.914 168.102 10.070
202506 10.097 169.670 10.161
202509 9.274 170.739 9.274

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 Companhia Celg de Participacoes (BSP:GPAR3) Overvalued in 2026?

Based on GuruFocus' analysis, Companhia Celg de Participacoes stock appears to be undervalued. The current stock price of R$10.51 is trading 83.5% below its estimated GF Value™ of R$63.70. GuruFocus considers Companhia Celg de Participacoes to be Possible Value Trap.

Key valuation signals for BSP:GPAR3:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$63.70 vs. price of R$10.51 (83.5% below fair value)
  • GF Score™: 48/100 with 3 warning signs

No single metric tells the full story. See the BSP:GPAR3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Companhia Celg de Participacoes Business Description

Address Rua 2, Quadra A-37, No- 505, Edificio Gileno Godoi, Goiania, BRA, 74805-180
Companhia Celg de Participacoes SA operates as the holding company in electricity sector. The Company generates, distributes, transmits and markets electric energy in Brazil.
48GF Score

Get the complete analysis for BSP:GPAR3

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

R$10.51
Price
R$63.70
GF Value