General Shopping e Outlets do Brasil (BSP:GSHP3) Cyclically Adjusted PB Ratio: (As of Jul. 27, 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:GSHP3 General Shopping e Outlets do Brasil SA BSP:GSHP3
48 GF Score
Price R$3.70
GF Value R$8.62
Valuation Possible Value Trap
! 3 Warning Signs
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What is General Shopping e Outlets do Brasil Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


General Shopping e Outlets do Brasil  (BSP:GSHP3) 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.


General Shopping e Outlets do Brasil Cyclically Adjusted PB Ratio Related Terms


General Shopping e Outlets do Brasil Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for General Shopping e Outlets do Brasil'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.

General Shopping e Outlets do Brasil Cyclically Adjusted PB Ratio Chart

General Shopping e Outlets do Brasil 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 0.09 0.08 0.08 0.08 0.00

General Shopping e Outlets do Brasil 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 0.17 0.00 0.00 0.00 0.00

General Shopping e Outlets do Brasil Cyclically Adjusted PB Ratio Competitor Comparison

For the Real Estate - Diversified subindustry, General Shopping e Outlets do Brasil'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.


General Shopping e Outlets do Brasil Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, General Shopping e Outlets do Brasil's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where General Shopping e Outlets do Brasil's Cyclically Adjusted PB Ratio falls into.


BSP:GSHP3
48GF Score
General Shopping e Outlets do Brasil SA BSP:GSHP3
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

General Shopping e Outlets do Brasil 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.

General Shopping e Outlets do Brasil's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, General Shopping e Outlets do Brasil'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)
=-957.113/175.0655*175.0655
=-957.113

Current CPI (Mar. 2026) = 175.0655.

General Shopping e Outlets do Brasil Quarterly Data

Book Value per Share CPI Adj_Book
201606 506.238 108.851 814.188
201609 514.337 109.986 818.673
201612 519.053 110.802 820.096
201703 521.396 111.869 815.940
201706 482.487 112.115 753.398
201709 497.110 112.777 771.670
201712 653.166 114.068 1,002.446
201803 618.685 114.868 942.911
201806 499.635 117.038 747.357
201809 466.957 117.881 693.477
201812 20.631 118.340 30.520
201903 5.842 120.124 8.514
201906 4.017 120.977 5.813
201909 -24.759 121.292 -35.736
201912 2.331 123.436 3.306
202003 -163.386 124.092 -230.501
202006 -256.615 123.557 -363.592
202009 -312.329 125.095 -437.092
202012 -249.905 129.012 -339.113
202103 -334.812 131.660 -445.191
202106 -265.338 133.871 -346.989
202109 -346.222 137.913 -439.491
202112 -386.689 141.992 -476.757
202203 -299.194 146.537 -357.442
202206 -393.699 149.784 -460.151
202209 -439.311 147.800 -520.355
202212 -432.967 150.207 -504.622
202303 -435.775 153.352 -497.476
202306 -403.616 154.519 -457.285
202309 -448.305 155.464 -504.831
202312 -383.279 157.148 -426.979
202403 -438.901 159.372 -482.119
202406 -567.353 161.052 -616.722
202409 -565.951 162.342 -610.306
202412 -818.089 164.740 -869.364
202503 -751.877 168.102 -783.025
202506 -714.000 169.670 -736.706
202509 -702.983 170.739 -720.796
202512 -806.265 171.765 -821.756
202603 -957.113 175.066 -957.113

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 General Shopping e Outlets do Brasil (BSP:GSHP3) Overvalued in 2026?

Based on GuruFocus' analysis, General Shopping e Outlets do Brasil stock appears to be undervalued. The current stock price of R$3.70 is trading 57.1% below its estimated GF Value™ of R$8.62. GuruFocus considers General Shopping e Outlets do Brasil to be Possible Value Trap.

Key valuation signals for BSP:GSHP3:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$8.62 vs. price of R$3.70 (57.1% below fair value)
  • GF Score™: 48/100 with 3 warning signs

No single metric tells the full story. See the BSP:GSHP3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


General Shopping e Outlets do Brasil Business Description

Address Avenida Angelica 2466, Suite 241, 24th Floor, Sao Paulo, SP, BRA
General Shopping e Outlets do Brasil SA is engaged in the planning and management of shopping centers, leasing commercial stores, leasing advertising and promotional space, managing shopping center and parking lots, and planning and leasing of electrical and water supply equipment at the developments. It operates through two segments. The Rent segment refers to the lease of space to tenants and other commercial spaces such as sales stand for publicity and promotion, exploitation of parking lots, and fees concerning the transfer of rights to use property spaces. The Services segment relates to the management of energy and power supply of shopping malls as well as the exploitation of parking lots. The company makes the majority of its revenue from the Services segment.
48GF Score

Get the complete analysis for BSP:GSHP3

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$8.62
GF Value