Hapvida Participacoes Investimento (BSP:HAPV3) Cyclically Adjusted PB Ratio: (As of Aug. 13, 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:HAPV3 Hapvida Participacoes Investimento SA BSP:HAPV3
67 GF Score
Price R$9.58
GF Value R$54.91
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Hapvida Participacoes Investimento Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Hapvida Participacoes Investimento  (BSP:HAPV3) 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.


Hapvida Participacoes Investimento Cyclically Adjusted PB Ratio Related Terms


Hapvida Participacoes Investimento Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Hapvida Participacoes Investimento'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.

Hapvida Participacoes Investimento Cyclically Adjusted PB Ratio Chart

Hapvida Participacoes Investimento 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 0.00 0.00 0.00 0.00 0.00

Hapvida Participacoes Investimento 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 0.00 0.00 0.00 0.15 0.00

BSP:HAPV3 vs AFL, MET, PRU: Cyclically Adjusted PB Ratio Comparison

For the Insurance - Life subindustry, Hapvida Participacoes Investimento'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.


Hapvida Participacoes Investimento Cyclically Adjusted PB Ratio vs Insurance Industry

For the Insurance industry and Financial Services sector, Hapvida Participacoes Investimento's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BSP:HAPV3
67GF Score
Hapvida Participacoes Investimento SA BSP:HAPV3
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hapvida Participacoes Investimento 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.

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

For example, Hapvida Participacoes Investimento'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)
=100.828/177.5443*177.5443
=100.828

Current CPI (Jun. 2026) = 177.5443.

Hapvida Participacoes Investimento Quarterly Data

Book Value per Share CPI Adj_Book
201512 1.514 104.247 2.579
201612 2.327 110.802 3.729
201703 0.000 111.869 0.000
201706 0.000 112.115 0.000
201709 0.000 112.777 0.000
201712 2.152 114.068 3.350
201803 3.126 114.868 4.832
201806 15.024 117.038 22.791
201809 15.873 117.881 23.907
201812 16.084 118.340 24.131
201903 17.000 120.124 25.126
201906 17.447 120.977 25.605
201909 27.393 121.292 40.097
201912 29.313 123.436 42.162
202003 29.976 124.092 42.888
202006 31.102 123.557 44.692
202009 31.659 125.095 44.933
202012 31.612 129.012 43.504
202103 32.219 131.660 43.447
202106 41.126 133.871 54.543
202109 40.972 137.913 52.746
202112 40.994 141.992 51.258
202203 103.549 146.537 125.460
202206 103.086 149.784 122.192
202209 103.399 147.800 124.208
202212 104.064 150.207 123.004
202303 102.289 153.352 118.425
202306 98.656 154.519 113.357
202309 98.293 155.464 112.254
202312 99.428 157.148 112.333
202403 98.137 159.372 109.327
202406 97.582 161.052 107.575
202409 97.448 162.342 106.573
202412 98.403 164.740 106.051
202503 98.785 168.102 104.334
202506 98.127 169.670 102.681
202509 98.259 170.739 102.175
202512 101.635 171.765 105.054
202603 101.360 175.066 102.795
202606 100.828 177.544 100.828

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 Hapvida Participacoes Investimento (BSP:HAPV3) Overvalued in 2026?

Based on GuruFocus' analysis, Hapvida Participacoes Investimento stock appears to be undervalued. The current stock price of R$9.58 is trading 82.6% below its estimated GF Value™ of R$54.91. GuruFocus considers Hapvida Participacoes Investimento to be Possible Value Trap.

Key valuation signals for BSP:HAPV3:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$54.91 vs. price of R$9.58 (82.6% below fair value)
  • GF Score™: 67/100 with 5 warning signs

No single metric tells the full story. See the BSP:HAPV3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hapvida Participacoes Investimento Business Description

Address No. 406, Avenue Heraclito Graca, Fortaleza, CE, BRA, 60140-061
Hapvida Participacoes Investimento SA is the medical-hospital and dental care company. The company and its subsidiaries are mainly engaged in the sale of health insurance plans and delivering the majority of medical assistance at its own hospitals, clinics, imaging diagnostics and laboratories; and the sale of dental insurance plans for services provided by an accredited network.
67GF Score

Get the complete analysis for BSP:HAPV3

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

R$9.58
Price
R$54.91
GF Value